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yesterday
If you were insured through one of the State Marketplace Exchanges or through healthcare.gov at any time in 2025, you should be receiving a Form 1095-A for that coverage. The Form 1095-A must be ent...
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If you were insured through one of the State Marketplace Exchanges or through healthcare.gov at any time in 2025, you should be receiving a Form 1095-A for that coverage. The Form 1095-A must be entered on your tax return.
To enter, edit or delete your Form 1095-A -
Click on Federal Taxes (Personal using Home and Business)
Click on Deductions and Credits
Click on I'll choose what I work on (if shown)
Scroll down to Medical
On Affordable Care Act (Form 1095-A), click the start or update button
Or enter 1095-a in the Search box located in the upper right of the program screen. Click on Jump to 1095-a
Social Security Retirement/Disability/Survivors benefits are reported on a form SSA-1099 and the benefits received are to be entered on a federal tax return. The benefits may be taxable depending on the amount of other income you have entered on your tax return.
To enter Social Security benefits reported on form SSA-1099
Click on Federal Taxes (Personal using Home and Business) Click on Wages and Income (Personal Income using Home and Business) Click on I'll choose what I work on (if shown) Scroll down to Retirement Plans and Social Security On Social Security (SSA-1099, RRB-1099), click the start or update button
Or enter ssa-1099 in the Search box located in the upper right of the program screen. Click on Jump to ssa-1099
yesterday
If you had health insurance from the marketplace for any part of 2025, you need to file a tax return and enter your 1095A.
How to find your 1095-A online
Log in to your account.
Under...
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If you had health insurance from the marketplace for any part of 2025, you need to file a tax return and enter your 1095A.
How to find your 1095-A online
Log in to your account.
Under "Your Existing Applications," select your 2025 application — not your 2026 application.
Select “Tax Forms."
Download all 1095-As.
Get screen-by-screen directions, with pictures (PDF, 504 KB).
yesterday
1 Cheer
The 1099R will be ready Jan 21. We don't know why they are sending the email about moving expense. Just a glitch.
yesterday
How do I report on the turbotax Non-Qualified Deferred Compensation from a previous employer. 1099 NEC
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yesterday
And what did you have to do? What did ChatGPT say? It may help someone else.
yesterday
Do I need to file taxes if I was getting disability and also insured through the Marketplace. I'm now getting medicare
yesterday
The 1099-R section is not ready, I ask to be notified. Why do they send an email saying the moving expense section is ready?
In their letter they say,
If you need assistance, please visit o...
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The 1099-R section is not ready, I ask to be notified. Why do they send an email saying the moving expense section is ready?
In their letter they say,
If you need assistance, please visit our support website at http://support.turbotax.com.
Which gives:
Invalid URL
The requested URL "[no URL]", is invalid.
Reference #9.15abce[phone number removed].83d71f4
https://errors.edgesuite.net/9.15abce17.1768407809.83d71f4
This is not giving me much confidence . . .
yesterday
You must have entered at least $2,500 of earned income to be eligible the Child Tax Credit on your tax return.
Go back through the dependent section in My Info. Look at each question carefully...
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You must have entered at least $2,500 of earned income to be eligible the Child Tax Credit on your tax return.
Go back through the dependent section in My Info. Look at each question carefully and make sure you answered each one correctly. Also, when asked for the Social Security of the child make sure that the box that states Not Valid for Employment is NOT checked.
If everything looks correct and you are still getting not qualified for child tax credit, delete them as a dependent and re-enter.
yesterday
1 Cheer
@user17684044706 wrote:
He purchased the property in 1993 for $88,000.00. He did paint the house recently (is the only upgrade done) and paid $4,400.00 for that job.
Yes, he must report t...
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@user17684044706 wrote:
He purchased the property in 1993 for $88,000.00. He did paint the house recently (is the only upgrade done) and paid $4,400.00 for that job.
Yes, he must report the gain and pay capital gains tax. His gain is the difference between his cost basis and the selling price, and may have no relationship to the actual amount of cash.
His cost basis what he originally paid, minus depreciation he took or should have taken while he was renting the property. For 20 years and a purchase price of $88,000, he probably took about $59,000 of depreciation, leaving an adjusted cost basis of around $29,000.
His selling price can be reduced by certain selling expenses such as advertising and real estate commission. Let's say for the sake of argument that his total expenses are 10%, so his net selling price is $288,000 (his real expenses might be more or less).
That means his capital gains is (from these example numbers) $288,000-$29,000=$229,000.
The first part of capital gains that came from depreciation is taxed as depreciation recapture, which is taxed as ordinary income with a maximum of 25%. The rest of the capital gains will be taxed by the IRS as a long term capital gains at 0%, 15% or 20%, depending on your father's other income. California will tax the entire gain as regular income.
yesterday
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yesterday
You wrote that he had rented it for 20 years, so you need to know the fair market value at the time of conversion to rental use for depreciation purposes. His gain, however, appears to be substantial...
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You wrote that he had rented it for 20 years, so you need to know the fair market value at the time of conversion to rental use for depreciation purposes. His gain, however, appears to be substantial based upon the purchase price. Obviously, he has owned it for far longer than the rental period. Regardless, if he started renting it in 2005 or 2006, his accumulated depreciation is substantial, and he will be subject to Section 1250 (i.e., recovery of accumulated depreciation deductions).
yesterday
I upgraded to Windows 11. TT is requesting activation of 2024 Home and Business. When I enter my license code I get an Error 606 message saying it is an invalid code. I have a late filing to make ...
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I upgraded to Windows 11. TT is requesting activation of 2024 Home and Business. When I enter my license code I get an Error 606 message saying it is an invalid code. I have a late filing to make and need to get in ASAP.
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yesterday
I did finally locate where to go to upload last years TurboTax from desktop to this years online version. However, it took 40 minutes of trying to ask the same question 100 different ways. the help...
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I did finally locate where to go to upload last years TurboTax from desktop to this years online version. However, it took 40 minutes of trying to ask the same question 100 different ways. the help & FAQ are horrible! I finally had to go ask ChatGPT and it spelled out exactly how to find where to upload. I don't need anyone to respond to this, but wanted to note the problem that exists.
yesterday
i took all my retirment money and put it all in silver and i want to start getting a payment how can i do this and not loose my silver and pay the least amount in taxes
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yesterday
1 Cheer
Painting would be an expense, not an improvement, and. as such, would not be added to his basis.
yesterday
And here is the Quick Employer Forms FAQ https://quickemployerforms.intuit.com/faq.htm
yesterday
Or if you are referring to the TurboTax 2025 Federal Refund Advance, see this TurboTax support FAQ for information on this program - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-re...
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Or if you are referring to the TurboTax 2025 Federal Refund Advance, see this TurboTax support FAQ for information on this program - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/offer-details-disclosures-refund-advance-program/L4ljXp6TI_US_en_US
The IRS will not be accepting 2025 tax returns until January 26, 2026
When will I get confirmation about my Refund Advance approval?
You will receive a final decision of whether you are approved for a Refund Advance after you file your taxes and the IRS accepts your return. You will receive an email from Credit Karma when your Refund Advance funds are deposited, if you are approved.
The IRS accepts returns starting in late January. The time it takes to accept your return varies, but most customers get approval and can get money within 15 minutes of the IRS accepting your return.
If your Refund Advance is denied, you will receive an email from WebBank (the bank issuing the Refund Advance loans) with the reason for the decline.
yesterday
January 21