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yesterday
If you are not showing a loss on Schedule C. Some expenses, such as home office or section 179 depreciation can only be used to reduce your schedule C taxable income to zero, and not to create a los...
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If you are not showing a loss on Schedule C. Some expenses, such as home office or section 179 depreciation can only be used to reduce your schedule C taxable income to zero, and not to create a loss. Excess deductions for these carry over to the next year. And you have to answer yes to both questions about exclusive and regular use, not just one. The area of your home office must be used regularly and exclusively for business to deduct it. Or you checked the box on Schedule C line 32b saying Some Investment is Not at Risk.
yesterday
Yes. You need to use Online Premium or any of the Desktop programs to enter a K-1. To enter a K-1 go to Federal Taxes Tab or Personal (Home & Business version) Wages and Income Then scroll way...
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Yes. You need to use Online Premium or any of the Desktop programs to enter a K-1. To enter a K-1 go to Federal Taxes Tab or Personal (Home & Business version) Wages and Income Then scroll way down to S-Corp, Partnerships and Trusts Schedules K-1 - Click the Start or Update button Be sure to pick the right kind of K-1. There are 3 kinds, 1041, 1065 & 1120S
yesterday
Only the IRS can answer that.
yesterday
One of my parents is the main person and then my other parent and I are also covered by the policy. Need to calculate my portion to claim for taxes.
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yesterday
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yesterday
I filed our taxes and they were accepted on Feb 22nd. We have still not received our refund and my transcript through the IRS says not refund has been filed.
yesterday
It looks like the 1099-R with the full amount ($18125.48) is the total, and the other two have the amounts that you report to the IRS. You should contact the plan administrator and ask if this is th...
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It looks like the 1099-R with the full amount ($18125.48) is the total, and the other two have the amounts that you report to the IRS. You should contact the plan administrator and ask if this is the case, and request that the one with the full amount be corrected (they may or may not do it, but you should ask). For your tax return, you can enter the two 1099-Rs. Please save copies of all three 1099-Rs and any other documentation you have with your tax records in case they do not make the correction and the IRS picks up the underreported income.
yesterday
The Oregon Health Plan insurance premiums are reported on a Form 1099-B. The information on that form is not reportable on your federal tax return, so it will not affect your tax return now or in the...
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The Oregon Health Plan insurance premiums are reported on a Form 1099-B. The information on that form is not reportable on your federal tax return, so it will not affect your tax return now or in the future.
yesterday
My Line 1a is above $0 so I am not sure why TurboTax thinks it is $0, and am not sure how to fix it.
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yesterday
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yesterday
Your estimated tax payments will serve as a credit against your Federal tax liability and have to be entered on your tax return.
In TurboTax Online, you can enter estimated taxes you paid by fo...
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Your estimated tax payments will serve as a credit against your Federal tax liability and have to be entered on your tax return.
In TurboTax Online, you can enter estimated taxes you paid by following these steps:
Open your tax return
Click on Federal in the left-hand column, then Deductions & Credits
Navigate to the list of Deductions and Credits
Locate the section named Estimates and Other Taxes Paid and click on the arrow on the right
Click on Start next to Estimated Tax Payments
On the next page, click Start next to Federal estimated taxes for 2025 (form 1040ES)
yesterday
I check where’s my refund multiple times a day, I have also called the automated line. Says refund has been delayed
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yesterday
@keith-l-bundy wrote: Rental income is $6500 so my understanding is I cannot get a loss that flows to Line 8 of my 1040. It depends. Do you Itemize your personal deductions on Schedule ...
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@keith-l-bundy wrote: Rental income is $6500 so my understanding is I cannot get a loss that flows to Line 8 of my 1040. It depends. Do you Itemize your personal deductions on Schedule A, rather than taking the Standard Deduction? On another note, is the "cleaning and maintenance" all 'shared' things, like maintaining the building? Or is any of that specifically and solely for cleaning after tenants?
yesterday
Estimated payments i paid for 2025, Where do i enter it in tax form?
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yesterday
I’m a landlord I rent my second floor apt to a family of 3. What is the percentage I can claim from my water & Sewer bill?
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yesterday
I'm living out-of-state going to school full time and not sure what I'm supposed to enter?
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yesterday
Thank you very much. One more question: Will the IRS computer system think there is an error in my return if I checked the SEP box on the worksheet, when I have a solo 401(k)? Is there any other w...
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Thank you very much. One more question: Will the IRS computer system think there is an error in my return if I checked the SEP box on the worksheet, when I have a solo 401(k)? Is there any other way to do it that will not look like I checked the wrong box?
yesterday
Everyone on this forum is a human.
What is your question or problem you are having?
yesterday
Are you on Windows or Mac? Did it save your existing return ok? How are you trying to start a new return? Go up to File-New Tax return. Have you updated the program? Did you try reinstalling th...
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Are you on Windows or Mac? Did it save your existing return ok? How are you trying to start a new return? Go up to File-New Tax return. Have you updated the program? Did you try reinstalling the program? If you can’t update your Windows program try doing a Manually update https://ttlc.intuit.com/community/updating/help/manually-update-turbotax-for-windows-software-basic-deluxe-premier-home-business/00/26041 Troubleshooting the Windows updating issues https://ttlc.intuit.com/community/troubleshooting/help/troubleshoot-turbotax-for-windows-updating-issues/00/25885 OR if you can't update it, try reinstalling the program. It will have all the updates to date. Since you now have to log into an Intuit Account when you first install it, all your downloads and licenses are listed there (even if you bought it from somewhere else) so if you need to install it again or install on another computer, even on the other operating system (Windows, Mac) you can download it again. And the download will have all the updates. Sign onto your account here to download the program and to get the license code https://accounts.intuit.com/app/account-manager/productsBilling/turbotax
yesterday
If you are back taxes owed or debt such as a student loan or child support and you file your 2025 tax return with a tax refund, the IRS can seized the refund to pay for the back taxes owed or the debt.