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You are still selling a business asset and it must be reported as indicated. It's understood there is no depreciation or amortization because you created the book of business. Simply leave that field... See more...
You are still selling a business asset and it must be reported as indicated. It's understood there is no depreciation or amortization because you created the book of business. Simply leave that field blank. Make sure you enter a date acquired when you started the business or a later date if you choose, assuming you had the business long term. Likewise cost would be zero because you created the book and did not buy it.   This will end up on Schedule D after Form 4797 (for sale of business assets).
I also have a big problem getting to an amended 2024 return.  Opening the desktop premier version, the only icon screen option is a "Continue" link where it shows my 2024 return was accepted.  No lin... See more...
I also have a big problem getting to an amended 2024 return.  Opening the desktop premier version, the only icon screen option is a "Continue" link where it shows my 2024 return was accepted.  No link for an amended return.  How can this be resolved quickly?
You have until midnight on April 21st to resubmit your extension. Make sure your name, date of birth and SSN are correct. Most of the times the rejection is due to a mismatch between your name, SSN a... See more...
You have until midnight on April 21st to resubmit your extension. Make sure your name, date of birth and SSN are correct. Most of the times the rejection is due to a mismatch between your name, SSN and date of birth.   What if my federal extension was rejected?
For the 2025 tax year you file form 3115 with your timely filed 2024 tax return.  It's timely filed if it is filed by the due date including extensions.  So you will include 3115 with the return that... See more...
For the 2025 tax year you file form 3115 with your timely filed 2024 tax return.  It's timely filed if it is filed by the due date including extensions.  So you will include 3115 with the return that you file later this year in order to have the new accounting method recognized for 2025.   @sgfreedom 
The IRS has rejected my E-File three times saying my Adjusted Gross Income is incorrect.  I have tried everything and keep getting rejected.  I looked at my previous return from 2023 and am using the... See more...
The IRS has rejected my E-File three times saying my Adjusted Gross Income is incorrect.  I have tried everything and keep getting rejected.  I looked at my previous return from 2023 and am using the correct AGI.  Is there a way to fix this? Or if not can I file a mail in return and us my credit card to pay my tax bill?   Thanks
If you are using TurboTax Desktop, you will need to correct your return and/or update your program by following the on-screen instructions.   If you continue having issues, you can check some of ... See more...
If you are using TurboTax Desktop, you will need to correct your return and/or update your program by following the on-screen instructions.   If you continue having issues, you can check some of our common solutions.  If your tax return can't be e-filed for some reason, TurboTax will let you know.   If your issue continues, contact us again and give us more details.  
Thank you! I have checked the ordinary business income on the K-1s and Statement A and it matches. What am I doing wrong? Also, how/where do I enter the allocations of UBI and Liabilities?
Turbo Tax made a huge mistake and carried forward an overpayment from 2022 to 2024.  In 2023 I used an overpayment of my 2022 taxes as an estimated payment.  Turbo Tax used the SAME amount on my 202... See more...
Turbo Tax made a huge mistake and carried forward an overpayment from 2022 to 2024.  In 2023 I used an overpayment of my 2022 taxes as an estimated payment.  Turbo Tax used the SAME amount on my 2024 return and there seems to be no explanation for why that happened. TurboTax this year has been a huge disappointment.
Scholarships that pay for qualified educational expenses (QEE - tuition, fees, books and other course materials) is tax free.  Scholarship amounts that exceed QEE is taxable income, on the student’s ... See more...
Scholarships that pay for qualified educational expenses (QEE - tuition, fees, books and other course materials) is tax free.  Scholarship amounts that exceed QEE is taxable income, on the student’s tax return. Room & board are not QEE. If box 5 of the 1098-T exceeds box 1, TurboTax (TT) will treat the difference as taxable income, unless you enter additional QEE at books and other expenses.
A blank 1099-NEC is available from the IRS here.   The Missouri DOR may charge a penalty but may not, depending on the folks you issued the 1099s to.   @sjillyc 
I have this problem too. Did you ever get it resolved?
You don’t typically pay taxes with a 1099.   I did not need to pay taxes in New York because I did the job physically in California.
If reimbursement exceeds the total amount of medical expenses paid, then the excess would be taxable income. Instructions for Form 1099-LTC
Same issue here! Prepared all my taxes to go over them yesterday and then. Boom I coudn't file my MD state taxes due to this error. I gave up at 1 am. Knowing I am now too late anyway.    I will he... See more...
Same issue here! Prepared all my taxes to go over them yesterday and then. Boom I coudn't file my MD state taxes due to this error. I gave up at 1 am. Knowing I am now too late anyway.    I will held Turbotax responsible, they could like Federal just file it at no cost, but with all there ads in the the software itself, they try to make an extra buck instead of focussing on reliablity.    Now I am might facing a penalty and/or need to file by paper. lets see if they call me back today. The wait times were greater than 1 hour. Godsake I am not the only one.    
 If you started in the Free Edition and entered any data that required any extra forms or schedules, you have to upgrade to a paid version and if you are watching the screens carefully you are alerte... See more...
 If you started in the Free Edition and entered any data that required any extra forms or schedules, you have to upgrade to a paid version and if you are watching the screens carefully you are alerted to the upgrade.       TurboTax Online: Important Details about Filing Simple Form 1040 Returns If you have a simple Form 1040 return only (no forms or schedules except as needed to claim the Earned Income Tax Credit, Child Tax Credit or student loan interest), you can file for free yourself with TurboTax Free Edition, or you can file with TurboTax Live Assisted Basic at the listed price. Roughly 37% of taxpayers are eligible. Examples of situations included in a simple Form 1040 return (assuming no added tax complexity): W-2 income Interest, dividends or original issue discounts (1099-INT/1099-DIV/1099-OID) that don’t require filing a Schedule B IRS standard deduction Earned Income Tax Credit (EITC) Child Tax Credit (CTC) Student loan interest deduction Taxable qualified retirement plan distributions   Examples of situations not included in a simple Form 1040 return: Itemized deductions claimed on Schedule A, like charitable contributions, medical expenses, mortgage interest and state and local tax deductions Unemployment income reported on a 1099-G Business or 1099-NEC income (often reported by those who are self-employed, gig workers or freelancers) Stock sales (including crypto investments) Income from rental property or property sales Credits, deductions and income reported on other forms or schedules  1095A for marketplace health insurance
How can I see my TurboTax  fees?  https://ttlc.intuit.com/turbotax-support/en-us/help-article/intuit-account-billing/review-fees-turbotax-online/L1XnIzgzg_US_en_US?uid=m682vq7k
If you have imported Form W-2 did you try deleting your W-2's and reentering them? Sometimes that clears up issues. Or if you can't import them enter them manually.   Click "Search" at the top... See more...
If you have imported Form W-2 did you try deleting your W-2's and reentering them? Sometimes that clears up issues. Or if you can't import them enter them manually.   Click "Search" at the top right of your screen In the search box, type "W-2" Click on "Jump to W-2"                Click on "Add a W-2" or if you are deleting your Form W-2 you can click on the garbage can icon to delete it  On the next screen click on "Type it Myself"   On the next screens you will be prompted to enter your W-2 information from your form Answer all questions on the follow-up screens If you are using TurboTax Desktop, you can enter your Form W-2 as follows: Open or continue your return Click "Search" at the top right of your screen In the search box, type "W-2" Click on "Jump to W-2"               Your screen will say "We'll start with your W-2", click the box "Work on my W-2" want to file or if you are deleting your W-2 click on the garbage can icon to delete it Your screen will say "Let's Start With a Bit of Info From Your W-2" , enter your Employer ID from Box b of your W-2" Click on "Continue" You can select "Type it myself" The next screens will prompt you for the information you see on your W-2. Answer all questions on the follow-up screens   Click here for additional information on manually entering your W-2.   Click here for additional information regarding editing your Form W-2
You will need to contact the IRS for information. It might be easiest to set up an account with them. Then you can see what the IRS does with your account.   IRS Individual Online Account   ... See more...
You will need to contact the IRS for information. It might be easiest to set up an account with them. Then you can see what the IRS does with your account.   IRS Individual Online Account   Taxpayers with a Social Security number or an Individual Taxpayer Identification Number can create or access their IRS Individual Online Account to get information they need to file their return. With an IRS Individual Online Account, people can: View balance owed, payment history and schedule payments. Cancel scheduled payments. Get transcripts. View or create payment plans. See digital copies of some IRS notices. View key data from their most recently filed tax return, including adjusted gross income. Validate bank accounts and save multiple accounts, eliminating the need to re-enter bank account information every time they make a payment. View, approve and electronically sign power of attorney and tax information authorizations from their tax professional.