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Hello, I need some help about my NY state tax return. I already reviewed the TurboTax Link but I still cannot understand my tax return.    Context: In 2024 Jan - Aug, I lived in WA and worked in ... See more...
Hello, I need some help about my NY state tax return. I already reviewed the TurboTax Link but I still cannot understand my tax return.    Context: In 2024 Jan - Aug, I lived in WA and worked in WA. I moved to NJ at Sep, and started working in NY at that time. My wife lives and works in NJ all the time. On my W-2 Box 16, it shows 100% income for NY and ~30% income for NJ.  Other than my W-2, I also have other income from WA and NJ. I want to file tax with my wife's NJ income together (she only has NJ income).   I did 2 allocations for my NY tax: 1. State wage allocation. 2. Nonresident other allocation.   1 & 2 covers all income we have in 2024, but my taxable income shows in "New York tax return summary" looks wrong. It is our total income minus a small deduction.    My questions: 1. I only worked in NY for ~4 months, why taxable income is almost all of our income? This looks wrong to me because my wife never live or work in NY, why we also need to pay NY state tax for her income? 2. The extra tax I paid to NY will be returned as credit by NJ. Does that mean even if my NY tax is wrong, I can just ignore it because the total tax I will pay should be the same?   Thank you in advance!
As an isolation test, I went back to TT2023 and deleted the deductions. Then invoked ItsDeductible Import. The Import for 2023 worked. Because it worked for 2023, the problem for 2024 is NOT caused ... See more...
As an isolation test, I went back to TT2023 and deleted the deductions. Then invoked ItsDeductible Import. The Import for 2023 worked. Because it worked for 2023, the problem for 2024 is NOT caused by WindowsOS. The Import failure with TT2024 desktop is with the 2024 TT software and how it doesn't work with ItsDeductible Online.
@fanfare  I have a couple hundred $ showing up on my Robinhood 1099-B under "Short B (basis not reported to the IRS)". TurboTax Deluxe on PC/Mac is telling me to "You'll need to mail a paper copy t... See more...
@fanfare  I have a couple hundred $ showing up on my Robinhood 1099-B under "Short B (basis not reported to the IRS)". TurboTax Deluxe on PC/Mac is telling me to "You'll need to mail a paper copy to the IRS. If you're e-filing your tax return, then mail your statements along with Form 8453 to: Internal Revenue Service Attn: Shipping and Receiving, 0254 Receipt and Control Branch Austin, TX"   I see that Turbotax has generated a filled out form 8453 for me, as well as form 8949 and Schedule D. Do I now physically mail these three form AND my 1099-B from Robinhood? Why wouldn't TurboTax e-file it? I am e-filing all of my taxes. I see that TurboTax will e-file just form 8949 and Schedule D (it gets generated for the final package ready to be e-filed), and form 8949 says "see attached statement". I am confused now. so this form will get e-filed without the statement?... And then I should mail it to IRS AGAIN with my 1099-B attached?   Any input is appreciated. Thank you  
My mother-in-law passed last year, so we're filing her PA-40 state income tax for Pennsylvania. She is owed a refund. How do we make sure the check comes made out to my wife (the executrix) rather th... See more...
My mother-in-law passed last year, so we're filing her PA-40 state income tax for Pennsylvania. She is owed a refund. How do we make sure the check comes made out to my wife (the executrix) rather than to my late MIL? The Feds have a form for this, but what about Pennsylvania?
As an isolation test, I went back to TT2023 and deleted the deductions. Then invoked ItsDeductible Import. The Import for 2023 worked. Because it worked for 2023, the problem for 2024 is NOT caused ... See more...
As an isolation test, I went back to TT2023 and deleted the deductions. Then invoked ItsDeductible Import. The Import for 2023 worked. Because it worked for 2023, the problem for 2024 is NOT caused by WindowsOS. The Import failure with TT2024 desktop is with the 2024 TT software and how it doesn't work with ItsDeductible Online.
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 ... See more...
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
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... See more...
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.   
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!
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... See more...
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.  
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... See more...
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?
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... See more...
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
@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... See more...
@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.)
Where to add an IRA distribution 1099-R?
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 ... See more...
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 
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.
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... See more...
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.            
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... See more...
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.
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 ... See more...
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.