The rental property may be depreciated under the rental property activity and reported on IRS Schedule E Supplemental Income and Loss.
In TurboTax Premier Online, follow these steps:
D...
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The rental property may be depreciated under the rental property activity and reported on IRS Schedule E Supplemental Income and Loss.
In TurboTax Premier Online, follow these steps:
Down the left side of the screen, click on Federal.
Down the left side of the screen, click on Wages & income.
Click to the right of Rentals, Royalties, and Farm.
Click to the right of Rental Properties and Royalties.
At the screen Your 2024 rentals and royalties summary, click the pencil icon to the right.
Select Add expense or asset to establish the rental property asset.
Answer the questions to establish the rental property asset and compute depreciation on the rental property asset.
If you are using the desktop software you can switch to Forms mode. If you are using the online version, it depends on what you need. Some parts flow from the federal while others are entered in the ...
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If you are using the desktop software you can switch to Forms mode. If you are using the online version, it depends on what you need. Some parts flow from the federal while others are entered in the state section.
Reference: 2024 M1MB, Business Income Additions and Subtractions
One problem may be your carryover capital losses. They would only be allowable against your net capital gain in the current year. I suggest you look at your Form 1040 to see what investment income is...
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One problem may be your carryover capital losses. They would only be allowable against your net capital gain in the current year. I suggest you look at your Form 1040 to see what investment income is showing on lines 2, 3 and 7 to see if your interest, dividends and capital gains are property stated on your tax return.
To view your form 1040 and schedule 1 to 3:
Choose Tax Tools from your left menu bar in TurboTax Online while working in your program
Choose Tools
Choose View Tax Summary
See the Preview my 1040 option in the left menu bar and click on it
Choose the Back option in the left menu bar when you are done
I am certainly no expert, but I think it may be that over time wages are tax exempt in Alabama? In such case this box would not affect your federal, but may be circle back to when filing state.
It will generally show the gross distribution in the summary, but this isn't the amount that is taxed. You can verify this by looking at the 1040 and compare lines 4a and 4B if an IRA or 5A and 5B if...
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It will generally show the gross distribution in the summary, but this isn't the amount that is taxed. You can verify this by looking at the 1040 and compare lines 4a and 4B if an IRA or 5A and 5B if a 401K. The A amounts represent the gross distribution and the B amounts are the taxable distributions.
To access the 1040 and if you are working a TurboTax Online, go to;
tax tools
tools
preview my 1040
If you are working in the software, go to 1040 in the forms mode.
Remember that an extension does not give you more time to pay. You need to pay your tax due by April 15. The extension only gives you more time to prepare and file your tax return forms.
ht...
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Remember that an extension does not give you more time to pay. You need to pay your tax due by April 15. The extension only gives you more time to prepare and file your tax return forms.
https://turbotax.intuit.com/irs-tax-extensions/
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-extension/need-file-extension-personal-state-taxes/L32Mt8ZNv_US_en_US?uid=m9a3q808
Yes, follow these steps:
Windows instructions
Open or continue your return.
Switch to Forms Mode by selecting the Forms icon.
From the menu, select the form you want to remove.
Af...
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Yes, follow these steps:
Windows instructions
Open or continue your return.
Switch to Forms Mode by selecting the Forms icon.
From the menu, select the form you want to remove.
After the form is generated in the right pane, select the Delete Form button.
Follow any onscreen instructions to remove the form or forms.
Mac instructions
Open or continue your return.
Switch to Forms Mode by selecting the Forms icon.
From the menu, select the form you want to remove (if you don't see it, select Open Form at the top).
From the Forms menu, select Remove [form name].
Follow any onscreen instructions to remove the form or forms.
My husband is Full time clergy and we live in the church parsonage. His w-2 provides for the Housing Allowance, however, where do I account for additional housing allowance expenses above and beyond ...
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My husband is Full time clergy and we live in the church parsonage. His w-2 provides for the Housing Allowance, however, where do I account for additional housing allowance expenses above and beyond this? For example, new appliances, landscaping, an above ground pool, new furniture, etc.
No one else can see your tax return. Have you printed them to look at them? What does it say in your account? What do you see on your Form 1040 If you preview it?
PREVIEW 1040
https://tt...
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No one else can see your tax return. Have you printed them to look at them? What does it say in your account? What do you see on your Form 1040 If you preview it?
PREVIEW 1040
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/preview-turbotax-online-return-filing/L77WCkvnu_US_en_US?uid=m681fkhr
