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yesterday
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yesterday
I posted this in another forum but maybe it was the wrong forum so am reposting here. I have an approximately $800 underpayment for California state taxes. Originally it said I had a penalty but th...
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I posted this in another forum but maybe it was the wrong forum so am reposting here. I have an approximately $800 underpayment for California state taxes. Originally it said I had a penalty but then I answered questions about last year's taxes and now there is no penalty. I don't think I meet the safe harbor rules but last year I did get a refund. The 5805 form is not included in the forms that I need to send to the California FTB but I did look at the form and it shows "penalty exception 1 $500/250". However when I manually input my information into the form and do my own calculations I seem to have a very small penalty of about $9 so is this why the form is not included because this is a very small amount or is there a bug of some kind. I revisited the underpayment section, deleted and input the same information few times and still no penalty fee. Would appreciate some guidance with this. Also is tax liability defined as what you owed throughout the year or what you owe after you complete tax forms. I assumed that liability means what you owed throughout the year. The program did create estimated payment vouchers but rather than using these I increased my withholding which I believe is acceptable. I will be earning a lot less this year than last year. Thanks.
yesterday
Since the NYC UBT credit is a state-specific adjustment, it does not typically "flow" automatically from the Federal K-1 entry. You must navigate to the New York state interview:
Start the Ne...
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Since the NYC UBT credit is a state-specific adjustment, it does not typically "flow" automatically from the Federal K-1 entry. You must navigate to the New York state interview:
Start the New York State Return: Go to the State Taxes tab and begin or revisit your New York resident return.
Continue through the interview until you reach the screen titled "Take a Look at New York Credits and Taxes".
Under the "NYC and Metro Commuter Taxes" section, look for "Credit for NYC Unincorporated Business Tax (IT-219)".
Select Start or Revisit. You will need to provide the Partnership Name and EIN from your K-1 and your distributive share of the NYC UBT paid by the partnership. This is often provided in a supplemental statement or "Attachment" to your K-1, rather than a numbered box.
The credit amount depends on your taxable income. If your NYC taxable income is $42,000 or less, the credit is 100% of the UBT paid. It scales down to 23% for incomes of $142,000 or more. This is a non-refundable credit. It can reduce your NYC personal income tax to zero, but any excess cannot be refunded or carried over to future years.
yesterday
What happens when you try to pay for your Michigan Efile? Do you get an error? When entering a payment, you're going to a Billing server, and you may not have a good connection. Try disabling your...
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What happens when you try to pay for your Michigan Efile? Do you get an error? When entering a payment, you're going to a Billing server, and you may not have a good connection. Try disabling your anti-virus software and VPN. Have you tried closing the program, and stepping through the FILE section again?
You can also try clicking on the icon in front of a URL address in a browser window, and choose 'Allow' in Local Network Settings, then return to FILE.
@1JoeParker
yesterday
Hi Patricia, it is definitely in my 2024 taxes filed through turbotax both shown in my Schedule E and form 4562 for depreciable assets. None of that information, or that I had a rental property at al...
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Hi Patricia, it is definitely in my 2024 taxes filed through turbotax both shown in my Schedule E and form 4562 for depreciable assets. None of that information, or that I had a rental property at all, carried forward to 2025. I wonder if there is a bug somewhere, since it sounds like other people have the same issue.
yesterday
With desktop TT 2025, I allowed Intuit to handshake with the investment banks and imported all the tractions' info. To e-file the return, the filing instruction says I have to mail the Form 8453 sep...
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With desktop TT 2025, I allowed Intuit to handshake with the investment banks and imported all the tractions' info. To e-file the return, the filing instruction says I have to mail the Form 8453 separately with all Form 8949s attached (7 pages this time). It's not required, if you just file the return by mail. Of course, a lot more printing would be needed. Not sure why this Form 8453 step is still necessary in this digital age. It could well be a DOGE thing within the IRS turf.
yesterday
MY REFUND WAS LESS THAN I EXPECTED
https://ttlc.intuit.com/community/refunds/help/why-is-my-direct-deposited-refund-or-check-lower-than-the-amount-in-turbotax/00/25594
There can be a numb...
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MY REFUND WAS LESS THAN I EXPECTED
https://ttlc.intuit.com/community/refunds/help/why-is-my-direct-deposited-refund-or-check-lower-than-the-amount-in-turbotax/00/25594
There can be a number of reasons why your refund was less than the amount you expected. First of all, look carefully at your actual tax returns. Next——check the IRS refund site https://www.irs.gov/refunds to see what the IRS says they issued for your refund. Sometimes the IRS reduces your refund. If the IRS reduced your refund they will send you a letter in several weeks.
There is sometimes confusion about the amount of refund to expect when users misinterpret the “summary” they saw in TurboTax. The amount of your refund is on your tax return. Federal refund is on line 35a on Form 1040 State tax forms are all different so we cannot tell you what line to look at on your state form. BUT it is important to actually LOOK at your tax return forms yourself and see the amounts of your tax refunds and/or tax due. A lot of confusion would be avoided by doing that.
Be aware also that your Federal refund and state refund do NOT come together. Federal and state tax returns are processed by two completely separate entities. There is no rule as to which one will come first,
It is also possible that your state reduced your refund for debts owed in your state—if the state reduced your state refund you will receive a letter from the state.
Did you choose to have TT fees deducted from your Federal refund? (Remember that if you did that, you also agreed to an extra refund processing fee of $40 or $45 in CA)
How can I see my TurboTax fees?
https://ttlc.intuit.com/turbotax-support/en-us/help-article/intuit-account-billing/review-fees-turbotax-online/L1XnIzgzg_US_en_US?uid=m682vq7k
refund offset.
https://www.irs.gov/uac/tax-refund-offsets-pay-unpaid-debts
IRS Treasury Offset Program Call Center at 1-800-304-3107
https://www.irs.gov/uac/tax-refund-offsets-pay-unpaid-debts
https://ttlc.intuit.com/community/refunds/help/what-is-a-refund-offset/00/26301
Reduced Refund https://www.irs.gov/taxtopics/tc203
NOTE: You can contact the IRS Treasury Offset Program Call Center at 1-800-304-3107 to ask if they have an offset for you on file. TurboTax would not have that information.
https://turbotax.intuit.com/tax-tips/tax-payments/who-can-garnish-an-income-tax-refund/L7cPPzDyc
yesterday
Yes. Well done!
I don't know if you are a part-year GA resident or nonresident. Grad school - school usually implies parents are home base and you are temporarily in the state for an education...
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Yes. Well done!
I don't know if you are a part-year GA resident or nonresident. Grad school - school usually implies parents are home base and you are temporarily in the state for an education. Unless you changed license, voting, car, etc then you are a nonresident of GA.
yesterday
The Federal and state refunds come from 2 different places normally on different dates. Some states are fairly quick with refunds, while other states can take a long time processing returns--even...
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The Federal and state refunds come from 2 different places normally on different dates. Some states are fairly quick with refunds, while other states can take a long time processing returns--even several weeks--as they crack down on detecting fraudulent returns. Here are some things you should check: First, you need to be sure your state return was successfully filed. If you efiled, be sure your efiled state return was accepted. If you used Online TurboTax, you can check by looking at the Tax Home in your Online account. Or did you choose to file by mail instead? TurboTax does not mail it for you. If you chose that method, you have to print, sign, date, and mail it. The FAQ below tells how to check on a state refund. When you scroll down further there, you will see a link for your state. FAQ: How do I track my state refund? https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_...
yesterday
Federal and state refunds come from completely separate entities, There is no rule as to which one will come first or how much time there will be between their arrivals. Some states process returns...
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Federal and state refunds come from completely separate entities, There is no rule as to which one will come first or how much time there will be between their arrivals. Some states process returns quickly and some are very slow.
STATE RETURN
Make sure your state return was accepted: https://turbotax.intuit.com/tax-tools/efile-status-lookup/
To track your state refund:
ttps://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_US_en_US?uid=lt447ebr
https://ttlc.intuit.com/turbotax-support/en-us/help-article/state-taxes/contact-state-department-revenue/L9qVToi02_US_en_US?uid=m6e06um0
yesterday
I've asked a Moderator to see what they can find out from TurboTax Tech to see if they are even aware and working on this.
yesterday
Hi everyone, I've been here before, received some valuable feedback but fell short of what I was looking for (totally a "me" problem in how I ask my questions). The proposed strategy is below...
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Hi everyone, I've been here before, received some valuable feedback but fell short of what I was looking for (totally a "me" problem in how I ask my questions). The proposed strategy is below and my question is fly or no-fly? For the 2026 tax year, the 0% long-term capital gains (LTCG) rate applies to taxable income up to $49,450 for single filers. Suppose one has zero ordinary income, no job, no nothing, but one has portfolio loaded with LTCG. Could an annual sale transaction of LTCG-loaded assets, properly crafted NOT to exceed $49,450 in gains result in 0% tax? Thank you PS. The obvious answer of how can one live on $49,450 would be that the proceeds of the sale includes cost basis plus gains so an illustration of 100% asset appreciation would mean something north of 100k total sale proceeds.
yesterday
Hi @gflynn1184 We've researched your case. You should receive a message from an expert very soon to schedule an appointment (if you haven't already). Please respond if you have any feedback or upda...
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Hi @gflynn1184 We've researched your case. You should receive a message from an expert very soon to schedule an appointment (if you haven't already). Please respond if you have any feedback or updates for us.
yesterday
Topics:
yesterday
In the FILE section interview, you should get a screen with 'Three Steps to Filing'. Click 'Start' and the next page will have your Order Summary, where you can indicate payment by credit/debit card...
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In the FILE section interview, you should get a screen with 'Three Steps to Filing'. Click 'Start' and the next page will have your Order Summary, where you can indicate payment by credit/debit card.
At the bottom of the page, click 'Confirm Payment.' If you're not seeing these screens, close TurboTax, clear your Cache and Cookies and retry.
Here's more info on Filing Federal and State Returns Separately.
@Coleyman52
yesterday
I am still confused about something, before adding the 1099-NEC for the tips, TT was showing a Fed refund of 997 and state refund of 324. After adding the 1099-NEC info (2968.41) it is now showing F...
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I am still confused about something, before adding the 1099-NEC for the tips, TT was showing a Fed refund of 997 and state refund of 324. After adding the 1099-NEC info (2968.41) it is now showing Fed refund of 578 and stat refund of 206. If there is no tax on tips, that doesn't sound right that the refund would be lowered. Not sure if this is related, but at one point it said "We weren't able to deduct all of your tips because the deduction can't be more than your self-employment income" It listed the deduction for tips as 2758.00
yesterday
Thanks, I had posted in another post what I did to fix some issues and there is still one issue. When you import from Deductible Duck using TXF, the worksheet/form is not complete and needs review. ...
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Thanks, I had posted in another post what I did to fix some issues and there is still one issue. When you import from Deductible Duck using TXF, the worksheet/form is not complete and needs review. You can walk through the Step-by-Step to fix some of the missing information but then Cost Basis is still required for a one donation, Household items, multi-item entry, acquired over multiple dates/years. I think it is still a form issue, have not tried to redo e-file with this one issue.
yesterday
1 Cheer
Yes that’s ok. You can even enter bank interest without a tin number. I manually enter all my interest without it.
yesterday
I definitely would not worry about this. Property taxes on your primary and secondary residences are deductible and reported on the same line on Schedule A, subject to the cap on Schedule A taxes.