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2 hours ago
If you used TTO: print the depreciation and amortization report. It will show prior depreciation and current depreciation. Add those numbers together.
If you used TTD: look at your forms.
Your Sc...
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If you used TTO: print the depreciation and amortization report. It will show prior depreciation and current depreciation. Add those numbers together.
If you used TTD: look at your forms.
Your Sch E rental has a depreciation report, Form 4562 which covers this year. In addition, you have a depreciation report worksheet or asset entry worksheet - it is not part of your filed tax return but it is in your paperwork and shows all your items and the accumulated depreciation.
2 hours ago
I will be filing a complaint based on this TurboTax had 1 month to tell me they couldn’t help me with my tax needing a 1040nr and 1040 similar to this how I have to rush my taxes and it was based on ...
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I will be filing a complaint based on this TurboTax had 1 month to tell me they couldn’t help me with my tax needing a 1040nr and 1040 similar to this how I have to rush my taxes and it was based on an offer. I will be filing a complaint with ftc based on feb 2024 filing
2 hours ago
@itsme1 For the income allocation, NC calculates it's final % of taxes as what you actually received those two months. Not as 2/12'ths. (Except for wages of a cross-border worker who might h...
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@itsme1 For the income allocation, NC calculates it's final % of taxes as what you actually received those two months. Not as 2/12'ths. (Except for wages of a cross-border worker who might have worked in NC before actually moving to NC)) So if you get (say) Mutual fund distributions in December...or have W-2 income for a higher paying job, or start having pension income in those final months...then the 2/12'ths is busted (at least for the final total %) ________________ As for line 1 Column B, if the $$ amount in column B should only be the spouse's W-2 income........ ......UNLESS one of you worked in NC while living in the other state (some folks live in one state, work cross border, then move to live in the state they were working in). Those $$ add in. So if spouse worked in NC while living in (say) VA the first 10 months...then their entire wages add into that column B number.
2 hours ago
1 Cheer
This is a known issue in TurboTax and we are working to resolve it as soon as possible. As soon as we have a resolution for you, we will update you in this Community thread.
2 hours ago
The IRS considers a Single Member LLC to be a sole proprietorship that does not file a separate business tax return. Instead, the activity of an SMLLC is reported on the tax return of the single memb...
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The IRS considers a Single Member LLC to be a sole proprietorship that does not file a separate business tax return. Instead, the activity of an SMLLC is reported on the tax return of the single member.
TurboTax Online and TurboTax Business Online are separate products. You would choose and pay for Expert Assist separately for each product. See this website to Compare TurboTax Online Products.
2 hours ago
Delete the Form 1099-R that was imported and re-enter the 1099-R ,manually.
To enter, edit or delete a form 1099-R -
Click on Federal Taxes (Personal using Home and Business) Click on Wages ...
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Delete the Form 1099-R that was imported and re-enter the 1099-R ,manually.
To enter, edit or delete a form 1099-R -
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 IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button
Online editions -
On the screen Did you get a 1099-R in 2025? Click on Yes On the screen Let's import your tax info Click on Change how I enter my form On the screen How would you like to upload your 1099-R? Click on Type it in myself On the screen Who gave you a 1099-R? select the type of 1099-R you received and Continue
2 hours ago
1 Cheer
I also never received notice that IT's deductible was being discontinued, so not sure where you are getting the idea that everyone knew that. Now we have to pay yet another $25 for a comparable pro...
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I also never received notice that IT's deductible was being discontinued, so not sure where you are getting the idea that everyone knew that. Now we have to pay yet another $25 for a comparable program. The fact that people have to pay up to 200 for tax software just so they can pay the Government money is beyond ridiculous. On the plus side, That's a Write-Off is a superior product to It's Deductible. Not sure if it's $25 better, but it definitely was easier to input items.
3 hours ago
I took a taxable distribution of about $400 from my IRA and received a 1099-R with that amount reflected in Box2. I imported the 1099-R, verified all boxes were correctly imported, and double verifi...
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I took a taxable distribution of about $400 from my IRA and received a 1099-R with that amount reflected in Box2. I imported the 1099-R, verified all boxes were correctly imported, and double verified in the Income section that everything showed up correctly. I finished my return and did a live share with a TT Expert who verified everything was correctly. When I saved a PDF version of my return, neither line 4a or 4b was populated (blank). I tried to contact Support and the tax expert was poorly informed and tried all sorts of strange explanations then just dropped the chat entirely and said she could not help. What do I do?
Topics:
3 hours ago
If you made improvements after the property was no longer a Rental, before selling, don't add those as a depreciable asset in the Rental section. They can be added to the remaining undepreciated Cos...
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If you made improvements after the property was no longer a Rental, before selling, don't add those as a depreciable asset in the Rental section. They can be added to the remaining undepreciated Cost Basis or included in Cost of Sale.
After reporting the 'date you stopped renting' in the Rental section, you'll report the sale as a Sale of Business Property under Business Items in the Income section. In that section you can enter your adjusted Cost Basis and Cost of Sale amounts. You'll also need to enter the amount of Depreciation Taken.
@user17729139211
3 hours ago
The Big Beautiful Bill provides for deductions up to $2000 in 2025 for charitable contributions (cash). Why doesn't the software take this into account?
3 hours ago
Yes, you have to add it to your tax return for sure. But you can get a copy of the 1099-G or if you know the amount, you can enter it without the 1099-G. It gets entered in the Unemployment Incom...
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Yes, you have to add it to your tax return for sure. But you can get a copy of the 1099-G or if you know the amount, you can enter it without the 1099-G. It gets entered in the Unemployment Income section > make sure you use the correct entry spot, there are several 1099-G entry places in the income section.
How do I report unemployment if I didn't get a 1099-G?
The link above has contact links to each state's unemployment office.
3 hours ago
Unemployment compensation has to be entered on a tax return,
Go to your state unemployment division website for a contact to get you another Form 1099-G.
3 hours ago
1 Cheer
It is still not fixed - I got the same issue today (March 12). I am using TurboTax Premier desktop version and it does not recognize GO Zone 50% Special Depreciation Allowance.
3 hours ago
Were these 1099-R forms to report a conversion of a traditional IRA conversion made in 2025 for your 2024 non-deductible traditional IRA contribution? If so, you would have had a Form 8606 filed in ...
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Were these 1099-R forms to report a conversion of a traditional IRA conversion made in 2025 for your 2024 non-deductible traditional IRA contribution? If so, you would have had a Form 8606 filed in 2024 to report this contribution as non-deductible and you would have a basis in that IRA of the amount of that contribution. When you enter the 1099-R in TurboTax, you will go through screens after entering the 1099-R data in your return to get to a screen with a heading of Traditional IRAs asking if you had nondeductible IRA contributions to your traditional IRA from 2024 or prior years? You would answer that question yes. On the next screen it will ask you for the basis in that IRA, which would be found on your 2024 Form 8606 on Line 14 in Part I - should be $7000. Enter the amount of your non-deductible contribution from 2024 in that box, then Continue. Once you do that for both of your 1099-R forms for each of you, then 1040 line 4a will be $14,000 and line 4b will be 0.
Also go back in Deductions and Credits where you entered your 2025 traditional IRA contributions and enter $7,000 for the total basis as of December 31, 2024 in that area also.
Since you made 2025 non-deductible contributions, remember that you will have a 2025 Form 8606 that shows a $7,000 non-deductible traditional IRA contribution for each. These can be converted as a Backdoor Roth this year and reported on your 2026 taxes.
3 hours ago
Enter Form 1098 for a rental property under the Rental Expenses of the Rental Property for Schedule E. The interest on this mortgage is not subject to the interest deduction limitations that exist fo...
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Enter Form 1098 for a rental property under the Rental Expenses of the Rental Property for Schedule E. The interest on this mortgage is not subject to the interest deduction limitations that exist for Schedule A mortgage interest.
3 hours ago
Just checking. Did you see my reply from yesterday?
3 hours ago
Expense vs asset.
Assets: A rental house is depreciated over 27.5 years. Appliances are 5 years. Are you saying depreciation isn't showing when it should for all items or just the new assets yo...
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Expense vs asset.
Assets: A rental house is depreciated over 27.5 years. Appliances are 5 years. Are you saying depreciation isn't showing when it should for all items or just the new assets you are entering?
Expenses like insurance and repairs are not depreciated, they are written off in full.
Be sure you are selecting asset to add items for depreciation.
3 hours ago
@itsme1 Ahhh...Yes, that will do it. An over-ride of a calculated field on a tax form/schedule/worksheet will negate the ability of e-filing any of the tax returns and it will also void the TurboTax...
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@itsme1 Ahhh...Yes, that will do it. An over-ride of a calculated field on a tax form/schedule/worksheet will negate the ability of e-filing any of the tax returns and it will also void the TurboTax 100% Accurate Calculation Guarantee
3 hours ago
I called Merrill and they claim it's a TurboTax issue. They changed their interface this year vs prior year and is creating chronic issues with the ML website. Turbotax is supposed to apply a patch...
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I called Merrill and they claim it's a TurboTax issue. They changed their interface this year vs prior year and is creating chronic issues with the ML website. Turbotax is supposed to apply a patch but it hasn't happened. Its kind of ridiculous the old way has worked forever and they now changed it!
3 hours ago
Okay, I picked up a new update for the desktop software (Turbotax Deluxe 2025) this afternoon. Part of the issue is fixed, but not all of it. It will now take "Average Share Price" as the valuation m...
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Okay, I picked up a new update for the desktop software (Turbotax Deluxe 2025) this afternoon. Part of the issue is fixed, but not all of it. It will now take "Average Share Price" as the valuation method and propagate that into Form 8283 Part I Column i (method used to determine the fair market value). BUT... it still says the stock was "purchased" when I selected "inherited" on the forms pulldown. So I guess it's a partial fix to the problem, but not for those of us entering inherited shares. C'mon, TT, you can do it! Fix Column f (how acquired by donor), too!