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April 7, 2025
5:48 PM
No one in the user forum can resolve a billing issue. If you have a question about your TurboTax fees or billing, make sure you use the word “billing” in your request for help. Do not use the word ...
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No one in the user forum can resolve a billing issue. If you have a question about your TurboTax fees or billing, make sure you use the word “billing” in your request for help. Do not use the word “refund.”
https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/contact-turbotax/L2y9ZKpQB_US_en_US?uid=m5s9l2vh
April 7, 2025
5:48 PM
Yes, you can elect to not have an employer plan for your LLC this year. Is it an S-corp where you pay yourself via W-2? If so, you just need to correct that checkbox both in TurboTax and via a corre...
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Yes, you can elect to not have an employer plan for your LLC this year. Is it an S-corp where you pay yourself via W-2? If so, you just need to correct that checkbox both in TurboTax and via a corrected W-2 filing (so it matches IRS databases.) If you don't have a W-2 with this marked, you want to be sure that there are no numbers listed in the "pension plans" section of your expenses for your business and that you've not completed the self-employed retirement worksheets. If you entered that section to test for the potential contribution, you may need to delete the associated worksheet from your forms. In the desktop version of TurboTax you do this by clicking on the Forms icon in the upper right then looking for the form in the column on the left. In TurboTax online follow these steps:
From the left rail menu in TurboTax Online, select Tax Tools (You may have to scroll down on the left rail menu.)
On the drop-down select Tools
On the Pop-Up menu titled “Tools Center,” select Delete a Form
This will show all of the forms in your return
Scroll down to the form you want to delete (SEP Wks)
Select the Form
Click on Delete.
Always use extreme caution when deleting information from your tax return. There could be unintended consequences.
April 7, 2025
5:48 PM
Topics:
April 7, 2025
5:47 PM
Thanks Vanessa. Forgot to mention that business revenue was zero in 2024, since i started working fulltime 1/1/2024. I have a QBI loss carryforward, will it help lower our tax liability? Thanks!
April 7, 2025
5:46 PM
April 7, 2025
5:45 PM
Yes, the information of Form 8949 flows to Schedule D. You do not report any escrow information when reporting the sale of the home. Commissions and other sales expenses are a reduction to sales pr...
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Yes, the information of Form 8949 flows to Schedule D. You do not report any escrow information when reporting the sale of the home. Commissions and other sales expenses are a reduction to sales proceeds, if not already reflected on the 1099-S. If you all the gain from the sale is excluded due to the exception for sale of personal residence you skip the adjustments for sales expenses. Otherwise, after entering the amount on the Form 1099-S, you will enter those as an adjustment.
April 7, 2025
5:45 PM
Hi Kesha, No. I do have a W-2 from my work, but also a W-2 from IHSS for my wife in taking care of her mom in our home. Box 1 actually had a monetary amount, but I believe Box 12 was marked “II” wit...
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Hi Kesha, No. I do have a W-2 from my work, but also a W-2 from IHSS for my wife in taking care of her mom in our home. Box 1 actually had a monetary amount, but I believe Box 12 was marked “II” with an amount. I attempted to look online on how to report this and read I should leave Boxes 1-8 blank but mark 12? Is this why? What do you recommend from here if my Federal was accepted already?
April 7, 2025
5:45 PM
First, delete the contribution you started and then downgrade back to Free edition. Delete the page titled IRA Contributions Worksheet.
How to delete forms in TurboTax Online
How to dele...
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First, delete the contribution you started and then downgrade back to Free edition. Delete the page titled IRA Contributions Worksheet.
How to delete forms in TurboTax Online
How to delete forms in TurboTax Desktop
How to downgrade in TurboTax Online
April 7, 2025
5:44 PM
@ladyswg You appear to be using the desktop version. If so, you can go into Forms Mode and see the calculation TurboTax used on the Qualified Dividends and Capital Gains Tax Worksheet. In Form...
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@ladyswg You appear to be using the desktop version. If so, you can go into Forms Mode and see the calculation TurboTax used on the Qualified Dividends and Capital Gains Tax Worksheet. In Forms Mode when you look at the list of forms in the left column, that worksheet is likely abbreviated as qual div/cap gain (or similar.)
April 7, 2025
5:43 PM
Where to add an IRA distribution 1099-R?
Topics:
April 7, 2025
5:43 PM
To file taxes for your son using TurboTax, you'll need to create a new account for him. TurboTax Online only allows one tax return per account, so you can't use your existing account to file another ...
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To file taxes for your son using TurboTax, you'll need to create a new account for him. TurboTax Online only allows one tax return per account, so you can't use your existing account to file another person's taxes.
Here's what you need to do:
Create a New Account: Go to the TurboTax website and sign up for a new account using a different email address. This will allow you to start a new tax return for your son.
Use TurboTax Desktop: If you prefer, you can use TurboTax Desktop software, which allows you to file multiple returns from one installation. This might be more convenient if you have several returns to file
Permissions Needed
You will need your son's permission to file his taxes. Ideally, you should have written consent or a Power of Attorney to ensure everything is legally compliant
Original Post
April 7, 2025
5:42 PM
It is $87,840.46. However, for purposes of reporting the sale in TurboTax, enter $28,500 (the purchase price), because depreciation can't lower your 'Basis' below zero.
April 7, 2025
5:42 PM
Thanks. I was entering it in the right place. But it looks like TT moved it over to the correct box after a few times of me delting and re-entering it. not sure what changed except for my actual m...
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Thanks. I was entering it in the right place. But it looks like TT moved it over to the correct box after a few times of me delting and re-entering it. not sure what changed except for my actual medical dedcutions for treatment etc I lumped them all together instead of breaking out each type. Does not make sense to me why this would fix it but it did.
April 7, 2025
5:41 PM
If you are using the online account you will need to set up a new account under his name. You cannot use the same online account for more than one person. For the desktop version you can e-file up to...
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If you are using the online account you will need to set up a new account under his name. You cannot use the same online account for more than one person. For the desktop version you can e-file up to 5 returns using the same program.
April 7, 2025
5:38 PM
All you need to do is show the ending inventory as $0 in the year you end the business. Your cost of good sold is your beginning inventory, plus purchases, less your ending inventory. So the missing ...
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All you need to do is show the ending inventory as $0 in the year you end the business. Your cost of good sold is your beginning inventory, plus purchases, less your ending inventory. So the missing inventory will be entered as cost of goods sold on your final business return.
April 7, 2025
5:38 PM
1 Cheer
If you aren't the deceased's spouse, when you inherit an HSA the value of that HSA at the owner’s death is taxable income that year. You can offset this tax liability by paying the deceased’s medica...
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If you aren't the deceased's spouse, when you inherit an HSA the value of that HSA at the owner’s death is taxable income that year. You can offset this tax liability by paying the deceased’s medical bills within a year of death. You are not taxed on any inherited HSA money you use to pay the deceased medical bills, as long as you do it within 12 months. If you didn't/don't pay the medical expenses of the deceased, your inherited HSA is taxable. The taxable amount would be the amount in Box 1, that should have been distributed to you.
The fact that the Health Savings Account did not earn any income is not unusual. Many, if not most employer HSA plans do not pay any interest and offer no investment options for the funds in the HSA.
When you enter your Form 1099-SA, answer the question "Did you spend your HSA money on medical expenses only, answer "No, I didn't." and then indicate you didn't spend any of it on medical expenses.
After entering that question, you'll land on the "Here's what we have so far" screen. Click on Done
Next screen should be "Now let's work on [your] HSA" click on Continue
Answer "Yes" when asked if you inherited the HSA
If you didn't pay any medical bills for the deceased, enter zero, and enter zero for the HSA account value on December 31, 2024.
Answer No, when asked if you put money in an HSA
Answer the Medicare question
For "Report Death or Disability Exception" enter the total amount of your HSA distribution
The amount you received from your inherited HSA will appear as taxable income on Schedule I of Form 1040 on line 8.f.
April 7, 2025
5:38 PM
1 Cheer
When you complete the income section, select done at the bottom and it asks a series of questions, including the foreign assets question.
@Clem5
April 7, 2025
5:38 PM
Hi, I have a 12 year old child who participates in 4-H stock show every year. This year when he sold his animal at auction they sent him a 1099 MISC for $8,550. Should I create an account for him w...
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Hi, I have a 12 year old child who participates in 4-H stock show every year. This year when he sold his animal at auction they sent him a 1099 MISC for $8,550. Should I create an account for him with intuit to file this or can I file it in my intuit account since he is still my dependent?
April 7, 2025
5:38 PM
Assuming you're referring to the control number (box D) on your W-2, you don't need to enter it (unless you may be trying to import it). If you get errors when attempting to import your W-2, you ...
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Assuming you're referring to the control number (box D) on your W-2, you don't need to enter it (unless you may be trying to import it). If you get errors when attempting to import your W-2, you may need To type it in yourself (download/print a copy and then manually enter your W-2 information).
April 7, 2025
5:38 PM
Good information - thank you for the help. If I dont have a CDHP, it sound like this $509 carry over every year on my taxes like this - is that correct? Most importantly - I am still not clear on...
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Good information - thank you for the help. If I dont have a CDHP, it sound like this $509 carry over every year on my taxes like this - is that correct? Most importantly - I am still not clear on how to proceed with the tax filing - the Federal "smart check" in Turbo-Tax is giving a validation error on form 8889 box 1 to indicate CDHP coverage during 2024 for myself or family, but I don't have a CDHP; should I leave it blank?