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2 hours ago
Thanks very much for responding. To add further detail, I can make a $7500 catchup contribution. My Schedule C net profits minus 1/2 social security tax paid looks like it will be $39,188. W2 ...
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Thanks very much for responding. To add further detail, I can make a $7500 catchup contribution. My Schedule C net profits minus 1/2 social security tax paid looks like it will be $39,188. W2 line 12 code D is $2348. As a result - if I have this right - there is the catchup contribution of $7500, plus the maximum employee contribution of $23,500-$2348=$21,152, plus the maximum employer contribution of .20 x $39,188 = $7838. This is a total of $36,490, which matches the result from this calculator: Solo 401(k) Contribution Calculator — Oblivious Investor. When I followed the guidance of checking the SEP IRA checkbox (but no other checkbox in the worksheet), the TurboTax worksheet knew my age and added a $7500 catchup contribution in step 17. It correctly calculated $7838 in step 7. I had inputted an employee contribution of $21,152 in step 6(a). However, the amount the last line of the worksheet wants to transfer to Schedule 1, line 16 is $28,990, not $36,490. How did TurbuTax arrive at $28,990? Shouldn't it be $36,490? If it is calculating the correct amount, can you explain what it is based on? Thanks again.
2 hours ago
Yes, there is way to efile without form 3520. Since form 3520 is a stand-alone form, you may mail this separately to the IRS just as long as it is mailed in a timely manner.
The IRS allows you...
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Yes, there is way to efile without form 3520. Since form 3520 is a stand-alone form, you may mail this separately to the IRS just as long as it is mailed in a timely manner.
The IRS allows you to report the same asset on both forms. If you do this, you no longer have to "check the box" that says it was reported elsewhere.
Go back to Form 8938 in TurboTax.
Part IV (Excepted Assets): Change the number of Forms 3520 from "1" to "0" (or leave it blank).
Part V or VI: Manually enter the details of the foreign account/asset that you were originally going to hide.
Result: TurboTax now sees a "standard" 8938 with no missing pieces. It will allow you to e-file your 1040.
Or you can report it as Option B: The "Empty Box" Method
Go to Form 8938, Part IV and remove the "1" from the Form 3520 line.
Leave that asset off Form 8938 entirely (this is technically what the IRS instructions say to do if you are filing 3520.
Here is a link for the download for Form 3520. Once it's filled out, you can mail it to: Internal Revenue Service Center, P.O. Box 409101, Ogden, UT 84409.
Instructions for filling out Form 3520
2 hours ago
Sorry for your loss. On your return, report it as interest income from bank x on Form 1099-INT. The IRS should not care that the SSN's don't match because you are reporting income.
some may argue t...
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Sorry for your loss. On your return, report it as interest income from bank x on Form 1099-INT. The IRS should not care that the SSN's don't match because you are reporting income.
some may argue the interest should be reported on form for your dad's estate and a K-1 issued to you for the interest you received. (It's technically Income in respect of a decedent - IRD) There is a general exception for the 1041 if the gross income is under $600.
from the iRS
Income in respect of a decedent (IRD). When completing Form 1041, you must take into account any items that are IRD. In general, IRD is income that a decedent was entitled to receive but that was not properly includible in the decedent’s final income tax return under the decedent’s method of accounting.
IRD includes:
All accrued income of a decedent who reported their income on the cash method of accounting, The IRD has the same character it would have had if the decedent had lived and received such amount.
2 hours ago
Here is a link to contact Turbo Tax Customer Service.
2 hours ago
@stepenbarczy
Go to this TurboTax website for the 2025 online editions - https://turbotax.intuit.com/personal-taxes/online/file-your-own-taxes/
Go to this TurboTax website to purchase and do...
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@stepenbarczy
Go to this TurboTax website for the 2025 online editions - https://turbotax.intuit.com/personal-taxes/online/file-your-own-taxes/
Go to this TurboTax website to purchase and download one of the 2025 desktop editions - https://turbotax.intuit.com/personal-taxes/cd-download/
2 hours ago
I'd done all the recommended things to do. When I verify the information "looks good" for the general information, it bounces me right back to the "... self employed work summary'. I successfully adde...
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I'd done all the recommended things to do. When I verify the information "looks good" for the general information, it bounces me right back to the "... self employed work summary'. I successfully added deductions for another 1099 I received. But the Food Delivery won't allow me to add deductions. help!
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2 hours ago
1 Cheer
Yes, enter the full amount that should be only the amount in 2025 that was earned in UT as the income in the box for UT. I hope this clarifies it for you.
@anonymous2
2 hours ago
1 Cheer
No. Real estate taxes paid on foreign property are not deductible per IRS Publication 530.
2 hours ago
What do you think is being calculated incorrectly? Can you give us more details?
2 hours ago
Thank you for the information. Do I have to wait until the IRS "processes" my business's return? Currently Turbotax status states "accepted", but it's not clear if that will change to "processed". ...
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Thank you for the information. Do I have to wait until the IRS "processes" my business's return? Currently Turbotax status states "accepted", but it's not clear if that will change to "processed". My urgency is getting corrected K-1's for myself and the other owners - is that something I can do prior to submitting the amendment?
2 hours ago
If you paid estimated taxes, you have to enter these payments in TurboTax.
In TurboTax Online, you can enter estimated taxes you paid by following these steps:
Open your tax return
Clic...
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If you paid estimated taxes, you have to enter these payments in TurboTax.
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)
You can pay estimated taxes and still owe a penalty for underpayment of estimated taxes if the payments are insufficient.
The tax laws say that you avoid a penalty for underpayment if you paid withholding and estimated tax of at least 90% of the tax for the current year or 100% (110% if your AGI is over $150,000 or $75,000 if MFS) of the tax shown on the return for the prior year, whichever is smaller.
Please read this IRS document.
2 hours ago
How do I access Form 6252 to correctd?
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2 hours ago
Each tax year is a separate TurboTax program.
Go to this TurboTax website to purchase and download one of the 2025 desktop editions - https://turbotax.intuit.com/personal-taxes/cd-download/
...
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Each tax year is a separate TurboTax program.
Go to this TurboTax website to purchase and download one of the 2025 desktop editions - https://turbotax.intuit.com/personal-taxes/cd-download/
See this website for minimum system requirements - https://turbotax.intuit.com/personal-taxes/cd-download/tta-system-requirements/
2 hours ago
@DianeW777 in my example 10000 is the amount i earned while in ut, not the entire year. the concern is that not entire earned income had taxes withheld while in ut. so its not clear if i should enter...
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@DianeW777 in my example 10000 is the amount i earned while in ut, not the entire year. the concern is that not entire earned income had taxes withheld while in ut. so its not clear if i should enter only the portion that wasnt taxed by ut. in this example 10000(total earned while in ut)-8000(that did get taxed by ut). or if TT knows from box 17 of w2 that Ive already paid some ut tax and so entering 10000 wont get me double taxed by utah
2 hours ago
1 Cheer
You established a "California-source" business activity (purchased and listed the property in 2025 as a rental).
Even though the tenant didn't move in until 2026, the IRS and the California Fra...
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You established a "California-source" business activity (purchased and listed the property in 2025 as a rental).
Even though the tenant didn't move in until 2026, the IRS and the California Franchise Tax Board (FTB) consider a property "placed in service" the moment it is available and listed for rent (December 14, 2025).
Thus, you can begin claiming pro-rated expenses for 2025 (depreciation for the last 17 days of the year, property management fees, advertising, etc.).
You generally must file a Form 540NR if:
You have any California-source income (even $1 of gross rent) .OR
your worldwide gross income exceeds CA’s filing threshold (for 2025... $22,941 for a single filer under 65).
Filing a 2025 return allows you to "document" any start-up costs. California allows you to carry-over passive rental losses to future years to offset future rental profits.
Open or continue your return.
In the "Personal Info" section, set your Resident State to your actual home state.
Select California (when the program asks if you "earned money in another state", This will generate Schedule CA (540NR), which separates your total income from your CA-source income.
2 hours ago
The appliances will be placed in service the day the house was made available for rent which would be your listing date. If you choose you can use one of the following choices:
Section 179 and d...
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The appliances will be placed in service the day the house was made available for rent which would be your listing date. If you choose you can use one of the following choices:
Section 179 and deduct 100% of the cost in 2025; or
Special Depreciation of 100% in tax year 2025 (after January 19th), or
Depreciate the appliances over a 5 year period (in your case you would use the mid-quarter convention vs the half-year convention).
This simply means an amount allowed for depreciation of a half quarter of the year because of the placed in service date vs half-year had it been placed in service any time before the last quarter.
When you enter your assets be sure to select and enter the following:
Tell us about this asset
Name your appliances
Date Acquired
Date Placed In Service
Cost
Asset Category = Rental Real Estate Property
How would you further describe this? - Rental Property Furnishings
On the next screen Continue until you can select: How would you like to deduct this asset?
2 hours ago
No surprise lol. I just went through it this tax year so I assure you, this is the only answer. I was rejected because she claimed herself as a dependent, or more accurately, stated no one could clai...
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No surprise lol. I just went through it this tax year so I assure you, this is the only answer. I was rejected because she claimed herself as a dependent, or more accurately, stated no one could claim her. After her return was processed, she amended and refiled using an IP PIN. Once the amendment was accepted, which was within hours, I refiled using my own IP PIN. Again, rejected. Then I refiled citing both my IP PIN and hers. Return Approved. My direct deposit is scheduled for Wednesday. Good Luck!
2 hours ago
If your 2025 TurboTax return disappeared after an update and you are using a TurboTax Desktop program, it may be a file path error. Try searching your computer for files ending in .tax2025. Open you...
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If your 2025 TurboTax return disappeared after an update and you are using a TurboTax Desktop program, it may be a file path error. Try searching your computer for files ending in .tax2025. Open your TurboTax program and click on the blue button that says Find a Tax File. This should bring up a list of ALL of your tax files. If you are using the 2025 TurboTax Online version, first try clearing your cache and cookies. Please click here for instructions on how to clear your cache. Please click here for instructions on clearing your cookies. Also, try using incognito mode. And make sure you are using the exact same User ID for you Online account as some people have multiples. You could also try clicking on Add a State to try to force the tax return to open. If you still can not locate your tax return, you can use this link to Contact TurboTax. If you have any additional questions or information, please return to TurboTax Community and we would be glad to help you.
2 hours ago
How can i enter wash sale amount from a 1099-B when i try to enter my sales section by section? Entering them 1 by 1 is not an option for me as i have a large # of option trades.
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