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@ginnyub42 wrote: Can I buy an amazing gift card How can I do that right now How is "amazing" being used?  Is the word "amazing" a typo for "Amazon?"  Or does it literally mean "awe inspiring?"... See more...
@ginnyub42 wrote: Can I buy an amazing gift card How can I do that right now How is "amazing" being used?  Is the word "amazing" a typo for "Amazon?"  Or does it literally mean "awe inspiring?"    Are you wanting to buy an Amazon giftcard?   If so, why are you asking about it in this tax forum for users of TurboTax?
How can I do that right now
can't tell you or even estimate your taxes since we don't know your tax basis and depreciation taken. in addition, there are other things we would need to know. you can search the web for tax calcu... See more...
can't tell you or even estimate your taxes since we don't know your tax basis and depreciation taken. in addition, there are other things we would need to know. you can search the web for tax calculators for 2025, but I doubt any have incorporated all the tax law changes made.   
if the LLC filed form 8832 it would be taxed as a C corporation which would require filing form 1120. if it filed form 2553, once approved, it would be taxed as an S-corporation and file form 1120-S.... See more...
if the LLC filed form 8832 it would be taxed as a C corporation which would require filing form 1120. if it filed form 2553, once approved, it would be taxed as an S-corporation and file form 1120-S. it is not necessary, if S-corp status is desired to file form 8832. if neither form was filed it is taxed as a partnership filing form 1065.  
I meant my taxes return
Hi everyone, I’d appreciate any input on a mistake I made when filing my 2024 California state return using TurboTax. My wife is a sole proprietor, but I mistakenly included Form 568 when filing th... See more...
Hi everyone, I’d appreciate any input on a mistake I made when filing my 2024 California state return using TurboTax. My wife is a sole proprietor, but I mistakenly included Form 568 when filing through TurboTax, which led the Franchise Tax Board (FTB) to treat her as a single-member LLC. We have confirmed that she is not registered as an LLC in California — her name and business do not appear in the Secretary of State’s BizFileOnline search tool. We recently received a notice of balance due and penalties related to the erroneous LLC filing. On the letter it says additional paneities will be added if payment is not received after August 15th.   Based on my research and guidance I’ve received, here’s my current plan for correction: File an amended California state return via TurboTax, removing Form 568 and correcting the filing to reflect sole proprietorship. Pay the requested amount shown in the notice now to avoid further interest and penalties while the amendment is pending. Create a MyFTB account at www.ftb.ca.gov/myftb/ . Since TurboTax does not allow me to attach a letter of explanation with the amendment, I plan to upload a separate letter to the newly created MyFTB account explaining that Form 568 was filed in error, that no LLC exists, and requesting abatement of penalties and a refund of the $800 LLC tax and any associated charges. I will monitor the status from the MyFTB account. Optionally, follow up with a phone call to the FTB in a few weeks to confirm receipt and check if a temporary hold can be placed on collection activity during review. Does this sound like the right path? Has anyone had success getting a full refund (including penalties) in a similar situation? Appreciate any thoughts or suggestions — thanks in advance!
If you are an employee (you get a W-2) you cannot claim a deduction for your licensing and certification expenses on your federal tax return. There is no federal tax deduction for employee business e... See more...
If you are an employee (you get a W-2) you cannot claim a deduction for your licensing and certification expenses on your federal tax return. There is no federal tax deduction for employee business expenses. A few states allow a deduction for employee business expenses, even though federal tax does not allow it. I believe the states that allow a deduction are Alabama, Arkansas, California, Hawaii, Minnesota, New York, and Pennsylvania. If you are in a state that allows the deduction, enter the job-related expenses in the federal section of TurboTax. The expenses will flow to the state tax return, subject to any limitations that the state might impose. If you are self-employed (you get a 1099-NEC or no tax form) and report your self-employment income as business income on Schedule C you can deduct the licensing and certification expenses as business expenses. You enter the expenses when you enter your business income in the federal section of TurboTax, and it will flow to the state tax return as well, for any state.  
A multi-member LLC is treated as a partnership for income tax purposes. That means that the LLC has to file it's own Form 1065 partnership tax return, separate from your personal Form 1040 tax return... See more...
A multi-member LLC is treated as a partnership for income tax purposes. That means that the LLC has to file it's own Form 1065 partnership tax return, separate from your personal Form 1040 tax return. The partnership return will include a Schedule K-1 for each partner. You have to enter the information from your Schedule K-1 in your personal tax return, so the Form 1065 partnership return for the LLC has to be completed before you can file your personal Form 1040 tax return. Your share of the income from the LLC will be included in your personal tax return when you enter your Schedule K-1. Are you the person who is responsible for filing the return for the LLC, or do you just have to file your own personal return? To prepare the Form 1065 partnership return for the LLC you have to use TurboTax Business (which is not the same as TurboTax Home & Business). TurboTax Business is available only as download software that you install on your Windows computer. The filing deadline for partnership returns is March 15, not April 15, and late-filing penalties are high. If the LLC has not yet filed its 2024 tax return, it should be filed as soon as possible to avoid even higher penalties. To prepare your personal Form 1040 tax return you need one of the personal TurboTax editions. You can use TurboTax Online Premium, or any edition of the TurboTax download software. TurboTax Business cannot prepare your personal Form 1040 tax return, and none of the personal editions of TurboTax can prepare a Form 1065 partnership return.  
@skydiver  wrote:  "I’m trying to find a return from 2019 and I’m having trouble finding it."   This answer assumes your 2019 return was prepared in Online TurboTax.  TurboTax supposedly keeps retu... See more...
@skydiver  wrote:  "I’m trying to find a return from 2019 and I’m having trouble finding it."   This answer assumes your 2019 return was prepared in Online TurboTax.  TurboTax supposedly keeps returns for 7 years.   Any return prepared in desktop TurboTax will not be in an Online account.  Here's how one would normally find past-year online returns and how to troubleshoot for multiple accounts (User IDs) if necessary.  Many people end up with more than 1 account.  The pathway to download the PDF or tax data file depends on whether or not you have started an online 2024 return.  I provide both scenarios below, so choose which one is appropriate for your situation.   If you have not yet started a 2024 online return: Sign in to your account.   What you see next depends on whether or not you have already started a 2024 return in that account.   If your left column menu is minimal, and does not have a Tax Home tab displayed, that would imply you have not started preparing a 2024 return in that account.  If you haven't yet started a return, it will start asking you some questions.  Answer those preliminary questions (you don't actually have to prepare a return), and then when you are far enough into the process the left menu column will change, and you'll then see a Tax Home option.  Do not click the Documents tab.  Instead, click on Tax Home.  Then on the Tax Home screen, scroll way down to the bottom to "Your Tax Returns & Documents".  Expand that section and choose the past year you want.   If your past returns are not shown there, then you likely have multiple accounts and signed into the wrong one.  I'll tell you below how to troubleshoot.   If you have already started or finished a 2024 online return: Log in, and if you've already started a 2024 return in that account, then it may already open at the Tax Home.  If not, click the Tax Home tab in the left column menu.  Do not use the Documents tab.  At the Tax Home scroll down and expand "Your Tax Returns & Documents."   If the past returns are not there, see the steps below.   If you do all that and can't find the past return, here's how to look for multiple accounts: You can have up to 5 accounts that use the same email address for notification purposes.  A User ID may be an email address, but it doesn't have to be.  It might be only part of an email address, or it can be anything at all.   To get a list of your User IDs, reset password, and recover account access, etc., you can use the tool at the link below.  When using the Account Recovery tool, try using your phone number first if you can still access it.   After that, if necessary, then run the tool on your email address(es) you can access. NOTE: Before running the account recovery tool below, log out of all Intuit accounts including this user forum, or you might end up in a loop.  Then clear your browser Internet cache, close your browser, then reopen it, and go to the link below.  You may wish to copy this link so you can paste it into the new browser session. https://myturbotax.intuit.com/account-recovery If still no luck after running that on your phone number you can still access and email address(es) that you can access,  here's another method:          Go back to the tool again, but this time leave the data field blank, scroll down a bit, then choose the small blue link that says "Try something else", and it will look you up by other parameters.   Other options include requesting a copy of the 2019 return from the IRS (costs $30) or getting an IRS return transcript for free.    However, transcripts in the online IRS account only go back 5 years, so an older transcript would have to be ordered to come in the mail (transcripts can be ordered at IRS website at https://www.irs.gov/individuals/get-transcript or with Form 4506-T ).  An actual copy of a tax return can be ordered using Form 4506.  https://www.irs.gov/forms-pubs/about-form-4506
Multi member LLC and not married
What type of organization is your business: a sole proprietorship, qualified joint venture, single-member LLC, multi-member LLC, partnership, S corp, or C corp? If you are married, is your spouse... See more...
What type of organization is your business: a sole proprietorship, qualified joint venture, single-member LLC, multi-member LLC, partnership, S corp, or C corp? If you are married, is your spouse involved in the business in any way? If so, what is your spouse's involvement, and what state do you live in?  
You can’t prepare a 2023 return on line. You have to download or buy the program for your computer and mail the return. 
How do I file 2023 taxes now?
Yep, I'm in the correct account, all the other data I input is there  (I hope/believe, but I really cant trust TT it seems so will need to double check everything ). In fact these nine 1099-B seem to... See more...
Yep, I'm in the correct account, all the other data I input is there  (I hope/believe, but I really cant trust TT it seems so will need to double check everything ). In fact these nine 1099-B seem to be there too, except that they are blank. I see the nine entries I input but all the data is blank.