All Posts

@joetai0013  in the search section type 1099-B and then JUMP to link follow the onscreen instructions.  You can choose to import or manually enter.  I would manually enter as often errant data flows from brokers.

@yatoshura You could enter 10.35%.  Highest in nation...  you only get the benefit if you can itemize. Washington state is 6.5%, then local tax rate is 3.85%  there can even be another special sales tax on top of that of .9%.  

Hi @pk, Thanks for your help as a volunteer answering so many questions.    Question: I paid my taxes on property sales in India. Where should I be putting that tax paid in India in Turbo Tax? I am assuming TDS in India, etc., is not relevant, and the only thing that matters in USA, is the Final Taxes that my CA paid to Income Tax India. Please let me know if this above is correct. I called 2-3 experts in Turbo tax but am not getting a clear answer. Thanks -S

I see you had several issues that were resolved but I could use some help!! Sorry if I missed these answers in your thread. I, too, have 1099NEC only income, as I did for last year as well. I am not getting my QBID calculated at all (which I should more than qualify for) nor am I getting ANY questions, or pages, to inquire about my home office expense, car/travel expense, or any expense!   I even *upgraded* to the Business version today as TT suggested because I had the 1099NEC,,,, thing is, I did it last year with TT  Deluxe, same as I was trying to use this year! I am not a stupid person, and I am also not a patient person 🙂  ANY help would be appreciated!

did you do a direct rollover or transfer from your IRA to the two HSA accounts, or did you get a cash distribution for which you put the money as indicated into each account? You cannot rollover or transfer an IRA account balance to another person's HSA. This would result in a taxable distribution (i.e., a distribution that was not used for a qualified medical expense).

I second that, this bug NEEDS TO BE FIXED ASAP.  Not being able to e-file the full 1040, simply because of the 3520 is being filed, when IRS allows you to file the 3520 separately.  This is a significant bug, that I hope TT prioritized to resolve, before starting to lose customers.

@anders650   sorry for your loss. You have a few questions: 1. The value of the assets is the FMV of the property at date of death.  Question were there securities or assets sold or was it just foreign currency in the estate. You need to distinguish. 2. as a US citizen you must report foreign assets inherited or gifted on IRS Form 3520. In your case, the value is under the 100k threshold.  (I state this as others may read the comments). 3. If you had an interest in a fgn bank account, you must file FBAR if the value exceeded $10k which it did.  you also must file form 8938.  on the 8938 you report value over the threshold, you also report dividends and interest 4.  Did you transfer the assets to a US account or did you keep them overseas? 5. so yes you need to report the interest income. 6. I believe the assets were already sold, I'm not sure. If they were then you report the gain/loss from date of death to sale of the assets you had interest in.  7.If it is just fgn currency,  that falls under IRC Section 988 https://www.law.cornell.edu/uscode/text/26/988 it would be a personal gain/loss not to be recognized if it is just fgn ccy gains/losses normally unless the gain exceeds $200.  I gave you the link for all the details. Good luck.