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30m ago
apologies about that, my internet connection kept dropping so I wasn't sure if the question successfully posted or not. i was trying to delete the question but didnt see the option to do so. Are yo...
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apologies about that, my internet connection kept dropping so I wasn't sure if the question successfully posted or not. i was trying to delete the question but didnt see the option to do so. Are you able to help with answering the question?
33m ago
What exactly do you mean by "edit some of the line items"? You generally can't make changes directly on the forms that get filed. You have to go back to the section of the interview where you entered...
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What exactly do you mean by "edit some of the line items"? You generally can't make changes directly on the forms that get filed. You have to go back to the section of the interview where you entered the information that you want to change. Follow the instructions that VolvoGirl gave you. If you are using the desktop TurboTax software you might be able to make some changes in forms mode on worksheets that feed into the tax forms, but again, generally not on the actual IRS forms.
If you need more help, tell us exactly which items you want to change, and whether you are using TurboTax Online or the desktop TurboTax software.
33m ago
I have been using Turbotax for several years and I've always had form 568 for a foreign single member LLC of mine. I am a California resident. But when I print the PDF of my final 2024 tax return I d...
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I have been using Turbotax for several years and I've always had form 568 for a foreign single member LLC of mine. I am a California resident. But when I print the PDF of my final 2024 tax return I don't see form 568 and instructions of mailing anything to the address that I used to mail the form 568 to. What could be the reasons? Thank you!
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an hour ago
Did you get a letter from the IRS or state?
I RECEIVED A LETTER FROM THE IRS/STATE
TurboTax does not receive any information from the IRS or your state after your return was filed...
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Did you get a letter from the IRS or state?
I RECEIVED A LETTER FROM THE IRS/STATE
TurboTax does not receive any information from the IRS or your state after your return was filed, so no one at TurboTax knows about a letter you received from the IRS or the state.
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-audit/turbotax-audit-support/L6AcMoNFD_US_en_US?uid=m5z7by9u
https://ttlc.intuit.com/turbotax-support/en-us/help-article/internal-revenue-service/got-cp2000-notice-irs/L7Da6em2t_US_en_US?uid=m4of6ngd
2 hours ago
Please contact your expert.
2 hours ago
Last year I filed my business tax return via TurboTax on September 12. The same day I received an email saying "Your 2023 Federal S-Corporation filing was accepted by the IRS." and the next day I rec...
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Last year I filed my business tax return via TurboTax on September 12. The same day I received an email saying "Your 2023 Federal S-Corporation filing was accepted by the IRS." and the next day I received an email saying "Your 2023 Delaware S-Corporation filing has been accepted." Do these confirmations need to come in before the tax returns accurately reflect what I input? If so, I am not sure why TurboTax is permitting downloads that are inaccurate and incomplete.
2 hours ago
Trying to look at past year taxes to do some 2025 planning and I had the same error on every version I tried to open - 2023 and 2034. Would download a portion of an update and then stop and then "Upd...
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Trying to look at past year taxes to do some 2025 planning and I had the same error on every version I tried to open - 2023 and 2034. Would download a portion of an update and then stop and then "Update Error try again later. Restart did not help. Workaround was to disconnect from internet (disable wifi and or ethernet connection) . Proceed to open Turbotax. Reconnect to internet, check for updates in Turbo Tax. This downloaded and installed the update without a problem. NO REINSTALL !!!
3 hours ago
Click on Add a State to let you back in. DO NOT CLICK ON AMEND.
3 hours ago
3 hours ago
TO DO 2023 How to prepare a prior year return https://ttlc.intuit.com/community/using-turbotax/help/how-do-i-prepare-a-prior-year-tax-return/00/25984 To do a prior year return you have to buy th...
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TO DO 2023 How to prepare a prior year return https://ttlc.intuit.com/community/using-turbotax/help/how-do-i-prepare-a-prior-year-tax-return/00/25984 To do a prior year return you have to buy the Desktop program here, https://turbotax.intuit.com/personal-taxes/past-years-products You will need a full Windows or Mac to install it on. If you have a simple return and want to file for free you can fill out the forms by hand. Here are some basic forms….. Here is the IRS 2023 Form 1040 https://www.irs.gov/pub/irs-prior/f1040--2023.pdf or if you want bigger type use 1040SR for Seniors, https://www.irs.gov/pub/irs-prior/f1040s--2023.pdf And 2023 Instructions https://www.irs.gov/pub/irs-prior/i1040gi--2023.pdf 2023 Tax and EIC Tables https://www.irs.gov/pub/irs-prior/i1040tt--2023.pdf Sch 1 : https://www.irs.gov/pub/irs-prior/f1040s1--2023.pdf Sch 2 : https://www.irs.gov/pub/irs-prior/f1040s2--2023.pdf Sch 3 : https://www.irs.gov/pub/irs-prior/f1040s3--2023.pdf Then when you do file 2024 enter 0 for the 2023 AGI since you are filing 2023 late. You have to print and mail prior year returns. When you mail a tax return, you need to attach any documents showing tax withheld, such as your W-2’s or any 1099’s. Use a mailing service that will track it, such as UPS or certified mail so you will know the IRS received the return. Don’t forget state. Important! Mail Federal and State in separate envelopes and mail each year in separate envelopes.
3 hours ago
Thanks for helping @Opus 17. I'll withdraw the excess $1000 in 2025 so I won't have to face future penalty.
3 hours ago
You can't change the year. You have to start your 2023 tax return over from scratch in the 2023 software. Separately, as DoninGA said, you have to file an amended return for 2024 to remove the 2023 i...
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You can't change the year. You have to start your 2023 tax return over from scratch in the 2023 software. Separately, as DoninGA said, you have to file an amended return for 2024 to remove the 2023 information that you entered and include only 2024 information.
The tag below your question says that you are using TurboTax Free Edition. There is no free filing for past years.
3 hours ago
@rjs Thanks for the explanation.
3 hours ago
1 Cheer
As far as income tax is concerned, if you form a partnership, the partnership has to file its own Form 1065 partnership tax return, separate from your Form 1040 personal tax return. The partnership t...
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As far as income tax is concerned, if you form a partnership, the partnership has to file its own Form 1065 partnership tax return, separate from your Form 1040 personal tax return. The partnership tax return includes a Schedule K-1 for each partner. Each partner has to enter information from his Schedule K-1 in his personal tax return.
You might be subject to other business taxes, besides your regular income tax, in New York. This would be true whether it's a partnership or some other form of ownership. If you hire someone as an employee you would have to deal with New York employment taxes. For at least the first year you should have a tax professional, preferably in New York, show you how to handle the taxes and prepare the tax returns for the business.
There are other considerations that you have to pay attention to besides taxes. You should consult a small-business lawyer in New York for advice on how to set up the business. And consult an accountant (who might also be your tax expert) to show you how to keep financial records for the business.
3 hours ago
We cannot tell you how much the tax will be. It depends on your other income and many other factors.
You could prepare a dummy tax return will all of your other income, deductions, and credits, t...
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We cannot tell you how much the tax will be. It depends on your other income and many other factors.
You could prepare a dummy tax return will all of your other income, deductions, and credits, then add the gambling income and see how much the tax increases. If you do that, do not use the same TurboTax Online account that you use for your actual tax return. You do not want to modify your actual tax return. If you create a separate account for the dummy tax return, be sure to keep track of which account you are using for your actual tax return and which account is the dummy.
4 hours ago
@rjs What do I need to pay attention if it is partnership with someone else (relative, or my brother who lives in NYC). I could either hire someone there or partnership (both sides invest some money,...
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@rjs What do I need to pay attention if it is partnership with someone else (relative, or my brother who lives in NYC). I could either hire someone there or partnership (both sides invest some money, I will put majority of money, while the other party actually runs it most of time).
4 hours ago
I understand need to report the full gains on form 8949 and adjust with Code N, to zero, is that it ? or additional forms need to be filed. Some online say I need to file form 1099 B to partnership, ...
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I understand need to report the full gains on form 8949 and adjust with Code N, to zero, is that it ? or additional forms need to be filed. Some online say I need to file form 1099 B to partnership, but they already filed the return and distributed K1, also not seeing anything in IRS rule about 1099 B or other forms needed to file with adjustment on form 8949 with Code N. Wonder if I am doing the wrong thing.
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4 hours ago
Yes, you have to file your federal tax return, a New York nonresident tax return, and a Virginia resident tax return.
4 hours ago
@rjs Thanks. so I do need to file with IRS, NY, and VA.
4 hours ago
When you prepare your New York nonresident tax return in TurboTax, it will ask you to identify which income is from New York.
All of your income is subject to tax by Virginia, the state that you ...
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When you prepare your New York nonresident tax return in TurboTax, it will ask you to identify which income is from New York.
All of your income is subject to tax by Virginia, the state that you live in, no matter where the income is from. You will get a credit on your Virginia tax return for part or all of the tax that you pay to New York. Prepare your New York nonresident tax return first, then your Virginia resident tax return, so that it can correctly calculate the credit.
@VAer wrote:
I post here because it is great public forum.
Well, that's a good reason to use TurboTax, isn't it?