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When I enter mortgage interest for real estate that was converted from personal use to rental use on the 'Home Interest Worksheet', and I also indicate the days personal vs rental use on Schedule E (... See more...
When I enter mortgage interest for real estate that was converted from personal use to rental use on the 'Home Interest Worksheet', and I also indicate the days personal vs rental use on Schedule E (in my case, it is 155 personal, 210 rental), Schedule E correctly shows the breakdown of interest between rental and personal. However, Schedule A adds the Total Interest reported PLUS the personal use interest. ------- Late entry: I couldn't find a way to delete this post. I addressed this by NOT entering the interest in the Home Interest Worksheet', and only entered it on Schedule E. To me, this wasn't clear in that the worksheet 'Note' did not clarify treatment of property that was converted mid-year.
I’m trying to change my Employer state ID from 6 numbers to 9 numbers like it says I need to by adding three 0 in front. It will not allow me to do that. It says “ Schedule KW-2 (1): State ID number... See more...
I’m trying to change my Employer state ID from 6 numbers to 9 numbers like it says I need to by adding three 0 in front. It will not allow me to do that. It says “ Schedule KW-2 (1): State ID number must consist of 9 numbers, cannot be all zeros, and cannot have preceding spaces. Return to the federal return to where the State ID number was entered and make sure it is 9 digits. If the state ID number is 6 digits long, please add 000 to the beginning of the number to make it 9 digits.” Why am I unable to change it and what am I supposed to do when it continues saying I need 9 numbers.   
Yes, this worked last year (2024) but not this year on Turbotax Deluxe.  And last year, click on names would sort and after you update or add a charity the list displays unsorted so you have to click... See more...
Yes, this worked last year (2024) but not this year on Turbotax Deluxe.  And last year, click on names would sort and after you update or add a charity the list displays unsorted so you have to click names again.  A pain but at least it makes it a little easier to add / update .   This should be a straightforward programming fix.
What a mess! The answer that I posted above worked for 2024. On further investigation, I see that TurboTax for 2025 flags any entry on Schedule 1 line 24z as an error. It essentially says that line 2... See more...
What a mess! The answer that I posted above worked for 2024. On further investigation, I see that TurboTax for 2025 flags any entry on Schedule 1 line 24z as an error. It essentially says that line 24z shouldn't be used at all, except for something called Domestic Production Activities Deduction (DPAD). Even worse, entering miscellaneous other income (which goes on Schedule 1 line 8z) doesn't work. The question-and-answer interview lets you make the entry, and it puts the negative amount on Schedule 1. But it does not put the description that you enter on Schedule 1. It just leaves the description blank. I'm afraid I really don't know what to tell you at this point. Maybe there will be a software update in the next few weeks that fixes the miscellaneous income entry. Otherwise I'm at a loss.  
@eminecgr  Does Turkish-American citizen mean you are a citizen of both countries?   You should describe your citizenship status and situation in more detail to get more comments about your filing s... See more...
@eminecgr  Does Turkish-American citizen mean you are a citizen of both countries?   You should describe your citizenship status and situation in more detail to get more comments about your filing situation.   TurboTax can prepare returns for American citizens or "resident aliens for tax purposes."   That being said, Free Edition cannot prepare Forms 2555 (Foreign Earned Income) or Form 1116 (Foreign Tax Credit.)    If using Online TurboTax, those forms would require Online Deluxe or higher.   I'll also ask Champ @pk who is quite familiar with international filing to review this thread in case there are any special issues you will need to be aware of.
The actual Form 4562 that is filed with your return is just a Summary of the Depreciation for the current year and only lists out the new assets and not the prior the items. You may have a 4562 Depre... See more...
The actual Form 4562 that is filed with your return is just a Summary of the Depreciation for the current year and only lists out the new assets and not the prior the items. You may have a 4562 Depreciation and Amortization Report which does list all the items including fully depreciated items.  If you don't have the 4562 Depreciation and Amortization Report or need more info you need the Asset Life History. The history is only available in the Desktop program not the Online version. If you are using the Online version you would have to download your .tax20yy file and open it in the desktop program.
Only the current year's depreciation appears on your Schedule E.  The total accumulated depreciation doesn't appear on the tax forms that are filed with the IRS, but if you export your return in Turb... See more...
Only the current year's depreciation appears on your Schedule E.  The total accumulated depreciation doesn't appear on the tax forms that are filed with the IRS, but if you export your return in TurboTax "with worksheets", it will include a "Depreciation and Amortization Report" page.  Check that report for the "prior depreciation" amount.  Note that it doesn't include the depreciation from that year in the prior depreciation, so you have to add the "current depreciation" amount to it.
just to add, once you do all the basis math on Form 8606 I think you'll find you've already converted most of the $2700 in 2024-2025 due to the pro rata rule and paid tax on it.  I think most of the ... See more...
just to add, once you do all the basis math on Form 8606 I think you'll find you've already converted most of the $2700 in 2024-2025 due to the pro rata rule and paid tax on it.  I think most of the $2700 balance is now in your basis (401k reverse rollover doesn't help you at this point), if my math is correct:   For 2024, 7000/9700=72.165% tax free conversion; $5051 tax free, $1949 taxable, basis carried fwd is $1949   For 2025 (assuming still 2700 but probably higher due to earnings), basis after the contribution is now 7000+1949 =8,949 so 8949/9700=92.257% tax free conversion; $6458 tax free, $542 taxable, basis carry fwd is 8949-6458=$2491   For 2026 you can convert everything to Roth and only owe tax on a $209 left plus earnings.     When you do your 2025 return the question about "made and tracked nondeductible contributions to IRA" will be Yes, and it will show the basis carried over from your (amended) 2024 return or you can you amend it if any issue.   Once you're completed the contribution and 1099-R conversion input, check the outcome on Form 8606 either in forms mode on desktop or in the PDF output to see the above calcs.   This article may also be helpful https://ttlc.intuit.com/turbotax-support/en-us/help-article/retirement-benefits/enter-backdoor-roth-ira-conversion/L7gGPjKVY_US_en_US  
Thank you for all your help! FWIW, I'm not afraid of circular calculations.  As you know, the IRS instructions have some of that; they end up computing that a 25% maximum contribution by the emplo... See more...
Thank you for all your help! FWIW, I'm not afraid of circular calculations.  As you know, the IRS instructions have some of that; they end up computing that a 25% maximum contribution by the employer is 20% of the net earnings. My calculation gives that a 25% contribution is instead 3,717,409/19,717,409 (approximately 18.8534%) of the Schedule C net-profit (as determined before subtracting for the Employer contribution that we are currently computing). With that value then subtracted as a Line 19 expense, then subtracting half of the then computed self-employment tax, and then taking 25% of that ... you get the same Line 19 value back again -- so it is within the 25% limit exactly.  (Well, rounding to nearest dollar at various steps might introduce noise.  Also, if you max out on FICA or max out on the Employer contribution, those too will change the calculation.)
Thank you. With your input and online search, guess I got what went wrong. 1. For IRA question: What did you do with money from xyz: I need to select 'did a combination of rollover, converting or ca... See more...
Thank you. With your input and online search, guess I got what went wrong. 1. For IRA question: What did you do with money from xyz: I need to select 'did a combination of rollover, converting or cashing' (Instead I did 'rolled over' to another traditional IRA or qualified retirement Account). 2.Missed Traditional IRA entry.   With these corrections, TT generated 1040-X with $22 interest and 8606 that matches the form I manually did with taxable amount $22. Status as of now,   1.1040-ES payment voucher: ignore. 2. Federal 1040-X: I owe $5. (I owe and paid $2200 while filing Taxes) 3. This changed State filing/tax information as well and I owe $1 to State (I got refund $400+while filing). 4. Reason for 1040-X: I converted all of it to Roth IRA (I think I need to elaborate this). -------------------------- 1.For Federal: 1040-X wit signature + 8606 is sufficient (along with check) with a cover letter or any additional forms to attach? I noticed schedule 8812 -child tax credit form Lain13 went up by $5 (not sure why).   2. For State: I think I have an option to submit electronically, but If I do by mail just 4 pages of CT state (CT-1040X) without 1040V voucher with cover letter is fine?
I found this on IRS.  Will it help?  Since it  doesn’t break out ER part vs EE part it must be for both https://www.irs.gov/publications/p560   Deduct the contributions you make for your common-la... See more...
I found this on IRS.  Will it help?  Since it  doesn’t break out ER part vs EE part it must be for both https://www.irs.gov/publications/p560   Deduct the contributions you make for your common-law employees on your tax return. For example, sole proprietors deduct them on Schedule C (Form 1040) or Schedule F (Form 1040), partnerships deduct them on Form 1065, and corporations deduct them on Form 1120 or 1120-S.   Sole proprietors and partners deduct contributions for themselves on line 16 of Schedule 1 (Form 1040). (If you are a partner, contributions for yourself are shown on the Schedule K-1 (Form 1065) you get from the partnership.)  
Increase your 2025 income by the amount of earnings you anticipate (eg 1099-INT)  and that should give you your new permitted contribution. You still need a fudge factor because the custodian calcul... See more...
Increase your 2025 income by the amount of earnings you anticipate (eg 1099-INT)  and that should give you your new permitted contribution. You still need a fudge factor because the custodian calculates earning as of the date your form request is processed.   @shugu88 
I think the reporting method derives from the definition of net earnings from self-employment in the tax code and in the Social Security code.  As you found, the instructions for line 19 of Schedule ... See more...
I think the reporting method derives from the definition of net earnings from self-employment in the tax code and in the Social Security code.  As you found, the instructions for line 19 of Schedule C clearly indicate that the self-employed individual's retirement deduction must be reported on Schedule 1, not on line 19.   Entering any part of the self-employed individual's retirement deduction on line 19 would change net earnings which would change the permissible employer contribution which would change the amount on line 19, a circular calculation.
To complete and file a 2024 tax return, started with the online editions, you will need to download the 2024 tax data file.  Then you will need to purchase, download and install on a personal compute... See more...
To complete and file a 2024 tax return, started with the online editions, you will need to download the 2024 tax data file.  Then you will need to purchase, download and install on a personal computer, Windows or Mac, one of the 2024 desktop editions.  Once installed you need to open the 2024 tax data file you downloaded by clicking on File and then on Open Tax Return.   To access your current or prior year online tax returns sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/ Scroll down to the bottom of the screen and on the section Your tax returns & documents.  Click on the Year and Click on Download .tax file   To complete and file a 2024 tax return using TurboTax you would need to purchase, download and install on a personal computer one of the 2024 desktop editions from this website - https://turbotax.intuit.com/personal-taxes/past-years-products/   A 2024 tax return can only be printed and mailed, it cannot be e-filed using TurboTax.
@stab1940    TurboTax contact info:   https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/turbotax-phone-number/L0Od33nMQ_US_en_US
I started my return last year but did not file. Why won't the incomplete file show up now
@stab1940    You should remove your PII (phone number) from your post.    Click on the 3 DOTS (upper right side of the dialog box) and select Edit Reply.
I have been trying to get some help with my payment for turbo tax advantage that it was paid out on my credit card on 11/06/2025. I talk to a person on line but he counting fine nothing. My e-mail [e... See more...
I have been trying to get some help with my payment for turbo tax advantage that it was paid out on my credit card on 11/06/2025. I talk to a person on line but he counting fine nothing. My e-mail [email address removed] or [removed phone number] Thanks
Thanks so much for this clear explanation! Feel very comfortable now trying online version for one year, then switching back to my familiar desktop version after I upgrade Windows.