All Posts

My refund calculation from Turbotax is more than $3000 but IRS deposited $585.  Checking my refund status on the Turbotax account I'm told my Social Security was in error and IRS recalculated it, which does not make since as I reported what was on the SSA-1099 for my wife and me.  Are you able to learn more?  I would like to know what the error they are talking about is and how it happen.  Thanks.

I am getting a result of $0 depreciation deductions on rental property that was put into service in 2022. I lived in the property for several years before I moved out and I started renting it full time in 2022. I have the pdf of the previous filings which I used to the previous 2 year's deductions on the rental property. Those years the deduction was about $3500. This year the deduction is $0. This doesn't make sense to me. Can you explain or help me to correct my entries. Here is my entry information . . . Rental Real Estate Property Residential Rental Real Estate Cost = $97373 Cost of Land = 126968 Date Purchased 01/01/1999 I purchased this asset NO, I used this item for personal purposed before . . . . Date put into service =10/01/2022 Percentage of time = 100 Total Depreciation claimed in previous years = $6934 (even if I enter $0 here, I still get $0 expense for 2024)

  I am getting the same error as mentioned in this post with over 4000 crypto transactions. AND because of this, no capital gains/losses from ANY of my crypto transactions are reflected at all on my turbotax. The comments in this post are unorganized and don't make it clear on how to approach it. In particular, there is no detailed solution of HOW to "[replace] by entering a summary and attaching a statement to your return with the individual sale details" in the original error message: "Since you have more than 4000 noncovered sales, you wil need to remove some of the noncovered sales.  They can be replaced by entering a summary and attaching a statement to your return with the individual sale details."   https://ttlc.intuit.com/community/taxes/discussion/error-about-schedule-d-line-16-exceeded-maximum-noncovered-sales/01/3081599/highlight/true#M1125267   There are a couple solutions suggested in the post: 1. File but mail Form 8453 afterwards. The comments in the post don't clearly mention the step by step steps needed to be taken to ensure TurboTax reflects the CORRECT capital gains/losses before submission. Furthermore, what are the step by step actions needed to be taken to be done after that all the way up to the last step of mailing Form 8453? 2. Aggregate transactions. But how does someone do this with thousands (e.g. close to 10,000) transactions? This is a crazy amount to go through. Also, turbotax doesn't have an aggregate feature, and I don't know any other crypto tax platforms that even allows this. (e.g. I know cointracker doesnt allow this)   PS: I have been fighting many days and hours to get this filed and so I am wondering if I just pay for TurboTax Full Service, will they be able to take care of this for me completely? If not completely, what can they help me with on this issue (please be specific so I can set expectations to understand if it is worth it)?   2nd PS: I have Cointracker and they provide 8949 (condensed) which gives summaries of all cryptocurrencies' transactions. BUT turbotax has no way for me to upload this form. Is there a way to use this form as a summary and then attach the detailed transactions (as a CSV) that I get from Cointracker separately to circumvent this 4000 transaction limit issue?