All Posts

@RobertB4444  Thank you Robert for the details about the rental losses and reporting! I've a follow up on the foreign tax claim. You said "If you have no income for the year you can still claim the foreign taxes paid but they are carried forward into the next year." So, did you meant that taxes paid are carried forward into the next year, so that when there's an income or when we sell the property, it can be used to offset against the income or the capital gain?

Generally, the answer is no, a loss on the sale of a country club membership is not tax deductible. This is because the membership is considered a personal item, and losses on the sale of personal items are not tax deductible. What do you mean by they took it away. That sounds like a legal issue,

Military discount is valid for active duty and reservists of an enlisted rank (E-1 through E-9) with a military W2.   Excludes National Guard members Excludes TurboTax Live products In TurboTax Online, review the questions in My Info in the upper left hand corner of the screen.   Make sure that the questions have been correctly answered at the screen Let's check for some other situations.  Make sure that you report a military W-2.

This response it incorrect.  The question does appear even if you have never checked a box for "THIS PERSON is a non-resident alien or dual-status alien spouse".  I have never checked that box now or ever in the past, and the software asked me this question anyway.  It asks this question before you get to the part of entering information for your spouse.  One of the other posts is correct that the questions are inherently out of order.  If anyone from Turbo Tax happens to read this, you need to fix your software.  When it asks questions like this out of order it makes me wonder how many other mistakes are in this software that I never become aware of.  Every mistake you make causes your customers to doubt your competence and doubt the quality of your software.  This question being out of order should have been caught in your testing.  If it wasn't, then your testing is also inadequate, and that is another reason that I should doubt that your product is doing my taxes correctly.

One issue could be a carryover QBI loss from the previous year. That would reduce you current year QBI income by losses sustained in previous years.   Another issue could be if you reported dividends or capital losses in your business entries that would limit your QBI income.   Also, you need to subtract from your business income any self-employment tax deduction, self-employed health insurance or self-employed retirement plan contributions to arrive at your QBI income on which the 20% is applied.     @RKG2 

You may tell the software that you were a full-time student.   In TurboTax Online, the Saver's Credit or Retirement tax credit may be accessed as follows:   Down the left side of the screen, click Federal. Down the left side of the screen, click Deductions & Credits. Click the down arrow to the right of Retirement and Investments. Click to the right of Retirement Savings Contribution Credit.

I realize that I was a little cryptic in posing my question.   My specific issue was in determining the prior year's tax liability (for purposes of determining required estimated payments and withholding for the current year) for each spouse when they filed single in 2023.  I was unable to find anything specific in the Community or TurboTax help, but I believe that it is as simple as just adding the two prior year taxable incomes together.  TurboTax is pretty oblique on this -- the input of the prior year's actual tax liability is a manual entry in the Federal Carryover Worksheet, P2, Line 6.  In transferring this amount to Form 2210, TurboTax applies the 110% "safe harbor" in the background.  Everything then flowed correctly through the Form 2210.   Thanks for responding, but I believe that my question has been answered.  Maybe this will save time for someone else.