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Thanks for providing the token.  The line in question on your Colorado Form 104, line 9, is non-Colorado municipal bond interest.   Colorado starts with your Federal taxable income.  Municipal bo... See more...
Thanks for providing the token.  The line in question on your Colorado Form 104, line 9, is non-Colorado municipal bond interest.   Colorado starts with your Federal taxable income.  Municipal bond interest is not taxable at a Federal level so it won't be included in your Federal taxable income.  Municipal bond interest that comes from within a state is typically non-taxable to that state, but municipal bond income that is not from your state is taxable to your state.  This rule does hold for Colorado, so the amount on line 9 of Form 104 is non-Colorado municipal bond interest that was not Federally taxable.   If you go to Other Mod Stmt in Forms mode, and right click on line 3a, then click Data Source, you get this explanation:   "From federal Schedule B, Interest and Dividends, Interest Income Worksheet, Box 8 amounts with a State ID other than CO, GU (Guam), PR (Puerto Rico) and VI (Virgin Islands); from Schedule B, Exempt-Interest Dividends Smart Worksheet, amounts with a State ID other than CO, GU (Guam), PR (Puerto Rico) and VI (Virgin Islands); and from Schedule K-1 Worksheets for Partnerships, S Corporations and Estates, Tax-Exempt Interest Income with a State Name other than CO, GU (Guam), PR (Puerto Rico) and VI (Virgin Islands). This total amount is reduced by related adjustment amounts on the 1099-INT Worksheet which have an adjustment type associated with them."   I did notice that you had a 1099-DIV that had municipal bond interest that was all allocated to Multiple States - if any part of that interest is from Colorado, it will not be taxable in Colorado.   Also, if you received any interest or dividends on any of those forms that are interest income from US debt obligations such as Treasury bills, then that interest, while taxable on your Federal return, is not taxable on your Colorado return.  Fidelity and other mutual fund companies will usually send along a statement in your tax forms that will tell you the % of dividends or interest that is from US debt obligations.  If they don't, you can look up that information online using the ticker symbol.  You can apply that % to the total dividends and interest on that statement to get the US government debt interest.  When you have that, you can go back into each statement in TurboTax and click past that has the $ figures on your form, you'll get a screen "Do these uncommon situations apply?", you can check the box "A portion of these dividends is US Government interest, then click Continue.  On the next screen, you can enter the $ amount of the interest or dividends that are US government interest, then continue.  That will automatically get applied as a subtraction of income for Colorado.
Federal and state refunds come from completely separate entities.  There is no rule as to which one will come in first or how long it will be between their arrival in your account.   TurboTax giv... See more...
Federal and state refunds come from completely separate entities.  There is no rule as to which one will come in first or how long it will be between their arrival in your account.   TurboTax gives you an estimated date for receiving your refund based on a 21 day average from your date of acceptance, but it can take longer.  “21 days”  is not a promise from TurboTax or the IRS.      First, check your e-file status to see if your return was accepted:  https://turbotax.intuit.com/tax-tools/efile-status-lookup/   Once your federal return has been accepted by the IRS, only the IRS has any control.  TurboTax does not receive any updates from the IRS. Your ONLY source of information about your refund now is the IRS.     You need your filing status, your Social Security number and the exact amount  (line 35a of your 2025 Form 1040) of your federal refund to track your Federal refund:    https://www.irs.gov/refunds   To track your state refund:     https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_US_en_US?uid=lt447ebr   If you chose to have your TurboTax fees deducted from your federal refund, that will take some extra time, while the third party bank handles the refund processing     https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/refunds-take-longer-others/L14YlqFrH_US_en_US?uid=lexdr7zh . https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/irs-refund-taking-longer-21-days/L2vRAJbdU_US_en_US?uid=lexe7lst         If you are getting earned income credit on line 27 or additional child tax credit on line 28 You are subject to the delay required by the PATH act.  Do not expect your refund before early March   https://ttlc.intuit.com/turbotax-support/en-us/help-article/internal-revenue-service/federal-refunds-delayed-due-path-act/L5jnQJsBi_US_en_US   Note:  “Accepted” is not the same as “approved”.  TurboTax tells you the e-file was accepted if the IRS deems that there is enough information on the return for them to take it in for processing.   Only the IRS can approve of the refund, which is a later stage of processing.  If the IRS approves your refund they will provide a date for the refund to be issued.   FROM THE IRS WHERE’S MY REFUND SITE: https://www.irs.gov/wheres-my-refund How it works Where's My Refund shows your refund status: Return Received – We received your return and are processing it. Refund Approved – We approved your refund and are preparing to issue it by the date shown. Refund Sent – We sent the refund to your bank or to you in the mail. It may take 5 days for it to show in your bank account or several weeks for your check to arrive in the mail.      
Yes, both were updated, however it was for depreciation and not for the transfer of your data. This can be caused by many things, as example it can be a browser.  The best thing to do is to enter you... See more...
Yes, both were updated, however it was for depreciation and not for the transfer of your data. This can be caused by many things, as example it can be a browser.  The best thing to do is to enter your rental activity and the assets from your 2024 tax return. The steps below should help you print your forms and worksheets for last year. How do I view, download, or print a prior year tax return? You can print a copy of your return with the schedules and worksheets by following the below steps:   Sign in to your TurboTax Online account  Scroll down and click 'Add a State'  (This is just a way to get you back into your tax return) Next select 'Tax Tools' (left column) and then 'Print Center' Select 'Print, save, or preview this year's return' Check the boxes for your Federal and State returns (this will open further options) Choose to include the government and TurboTax worksheets  Then click 'View or Print Forms' @jummus 
Yes, here is how to add standard depreciation to a rental property? Under Federal Wages & Income Scroll to Rentals, Royalties, and Farm  Select "Edit" next to your property Add/update... See more...
Yes, here is how to add standard depreciation to a rental property? Under Federal Wages & Income Scroll to Rentals, Royalties, and Farm  Select "Edit" next to your property Add/update in the Assets/Depreciation section In this section Record the asset type (residential),  Cost  Purchase date
Whatever happens in an IRA happens in the IRA only.  You took a tax deduction for the contribution so you have no basis.  Whatever you take out is taxable.  This is reported on a 1099-R from the brok... See more...
Whatever happens in an IRA happens in the IRA only.  You took a tax deduction for the contribution so you have no basis.  Whatever you take out is taxable.  This is reported on a 1099-R from the broker.   Then you opened a Roth IRA.  If you did not do a rollover, then this is a regular contribution and your contribution is limited to $7000, or $8000 if over age 50.     If you did a rollover, the amount is not limited, that would also be reported on a 1099-R.   The wash sale rule is never involved if you report it correctly. 
It depends.  If you live in IL, then YES, you will need to pay Illinois state taxes on your income for the rest of the year since Indiana and Illinois do not have a reciprocal agreement.  However, yo... See more...
It depends.  If you live in IL, then YES, you will need to pay Illinois state taxes on your income for the rest of the year since Indiana and Illinois do not have a reciprocal agreement.  However, you may be able to claim a credit for taxes paid to Indiana on your IL return.   In general, your home state will tax all in come from all sources.  What you will do is you will file a nonresident return for the states that you do not reside in, but you visit for work and earn money in.  When you file, you will fille out your nonresident states first.  Then you will fill out your resident state, claiming a credit for taxes paid to the nonresident states on your home state return.  You may or may not still end up owing money to your resident state depending on whether or not their tax rate is higher or lower than your nonresident state.  If the non resident state had a higher tax rate than your resident state, your credit will be limited to the amount of tax you would have paid to your resident state.  They will not give you a refund of the taxes you paid to the nonresident state.    You may want to ask your employer to withhold taxes for IL instead of IN.  If they will not, and if your IL taxes will be higher than what they withhold for IN, it would be a good idea to make estimated tax payments to IL so you do not end up owing a penalty.      Multiple States File Non Resident State Return   If you moved to IN, then you would not need to pay taxes to IL on the income earned after you moved to IN.  You then filing a Part Year Resident return for both IN and IL and allocate the income based on where it was earned. 
TurboTax isn't allowing me to file VA Married Filing Separately although I have already filed my Joint Federal return. How can I resolve this?
I agree TurboTax should develop an option to print or save your returns with the first 7 digits of the SSN X out.  It's a security / privacy risk to have saved printed or digital copies of your retur... See more...
I agree TurboTax should develop an option to print or save your returns with the first 7 digits of the SSN X out.  It's a security / privacy risk to have saved printed or digital copies of your returns. Taxpayers have to retain copies of our returns for a period of time.   It would be a nice benefit for your customers.  Also note that 1099-DIV and INT and other tax documents mailed to taxpayers have first 7 digits of SSN X out.  
Did you e-file your tax return and was it accepted? Only the IRS and your State control when and if a Federal or State tax refund is Approved and Issued.   You complete your tax return by finish... See more...
Did you e-file your tax return and was it accepted? Only the IRS and your State control when and if a Federal or State tax refund is Approved and Issued.   You complete your tax return by finishing all 3 Steps in the File section. In Step 3, to e-file your tax return, you must click on the large button labeled "Transmit my returns now".   After completing the File section and e-filing your tax return you will receive two emails from TurboTax. The first email when your tax return was transmitted and the second email when the tax return has either been accepted or rejected.   Note - Once a tax return has been Accepted by the IRS or a State, TurboTax receives no further information concerning the tax return or the status of any tax refund.  Only the taxpayer listed on the tax return can obtain the status of a tax refund or a tax return.   To check the status of an e-filed return, open up your desktop product or log into your TurboTax Online Account. You can find your status within the TurboTax product. If accepted by the IRS use the federal tax refund website to check the refund status - https://www.irs.gov/refunds If accepted by the state use this TurboTax support FAQ to check the state tax refund status - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_...   After the tax return has been Accepted by the IRS (meaning only that they received the return) it will be in the Processing mode until the tax refund has been Approved and then an Issue Date will be available on the IRS website.
It depends. If you haven't added your property to your rental activity that is the first step. Add your property as an asset on your rental activity. Be sure to use the information from your amended ... See more...
It depends. If you haven't added your property to your rental activity that is the first step. Add your property as an asset on your rental activity. Be sure to use the information from your amended return for last year.   The steps for entering the asset property will display and carry the amount to your Schedule E. Select Rental Properties and Royalties > Update/Edit > Select 'None of the above' for Real Estate Pro Select Edit/Pencil beside Property one > Select Update/Revisit/Add another asset beside Assets > Continue > Continue Enter the Name, Date Purchased/Acquired, Date Placed in Service, Cost > Select asset category Rental Real Estate Property Description is Residential Real Estate > Land value (can be found by using your tax assessment) > Continue to finish Select Done with Rental Property > Continue until you reach Rental and Royalty Summary Please update if you have more questions or need additional assistance.
@NickNYC  @daccitl  The page I read yesterday is not from NYS, it's a law firm and their advice is different than the NY page you cite so I would say the NY page is correct. 
Tik Tok income is considered self-employment income and will be shown on your tax return on Schedule C.   To enter your Tik Tok income and related expenses in TurboTax Online:   1. Go to Inco... See more...
Tik Tok income is considered self-employment income and will be shown on your tax return on Schedule C.   To enter your Tik Tok income and related expenses in TurboTax Online:   1. Go to Income>Self Employment>Self Employment Income and Expenses and select Start   2. Enter your income as Other self-employed income   3. Enter any related expenses such as computer equipment, software subscriptions, and marketing.   Here is a TurboTax article on reporting self-employment business income and deductions for more information.
TurboTax doesn't handle Form 8621 for section1291Tax.    Because this form isn't included in the software, you can't file a return online. You must prepare the return, print it, and mail it to th... See more...
TurboTax doesn't handle Form 8621 for section1291Tax.    Because this form isn't included in the software, you can't file a return online. You must prepare the return, print it, and mail it to the IRS, attaching your completed Form 8621.   See instructions in the link below: Instructions for Form 8621  
Call Customer Service and tell them you have a "block payment issues, possibly due to billing or an invalid license" and the agent should be able to help you. Here is how you reach customer service: ... See more...
Call Customer Service and tell them you have a "block payment issues, possibly due to billing or an invalid license" and the agent should be able to help you. Here is how you reach customer service:  Turbo Tax Customer Service 
TurboTax will not progress to the payment screen - I continue to receive the following message popup: I've confirmed that my desktop software is up to date, and that my payment method in my Intu... See more...
TurboTax will not progress to the payment screen - I continue to receive the following message popup: I've confirmed that my desktop software is up to date, and that my payment method in my Intuit account is also valid.  I've logged off from my Inuit account in Turbotax and logged back in successfully when progressing through the filing process in the software, but this popup continues to appear.  
@LeticiaF1  I still don't have an answer to what I think is a TurboTax desktop bug. Maybe it's somehow unique to my current tax return, but it's not because my tax return is long. We could set up a s... See more...
@LeticiaF1  I still don't have an answer to what I think is a TurboTax desktop bug. Maybe it's somehow unique to my current tax return, but it's not because my tax return is long. We could set up a screen share so you could see it.