All Posts

Here's a tip that might help, especially if you later get an Error Check notice.   Choose the format "type" as @ RobertB4444  mentioned above, but when entering the actual numbers, enter them contiguously without any hyphens or spaces.   TurboTax will take the 9 contiguous digits and should know how to format them as EIN or SSN based on the format "type" you indicate.

@ckuntzman200    Wait a bit though.   Are you under age 24 and considered a dependent of your MI-Parents?   IF so, your time in the College state is considered temporary (and ignores the 183 day stuff), and you are considered a full-year resident of MI.   Then, if you work in that college state, then you only file a non-resident tax return for that working income in the college state.

yes it works best when you're able to use prior year tax for the estimated tax payments rather than 90% of the current year, as everything from prior year is known and it doesn't matter what unexpected income you get or when.   But, IRS allows for uneven income and estimated tax payments instead of even quarterly payments, by allowing you adopt an annualized income method on Form 2210 where you can lay out your AGI vs. the estimated payments to reduce/eliminate the penalty.  You would need to provide cumulative AGI, Long Term Cap Gains/Qualified Dividends thru 3/31, 5/31, 8/31 for this method.   Under Other Tax Situations / Underpayment Penalties, you can go through the interview process to see if it reduces/eliminates the penalty and then adopt this method.

TN does not have income tax.   Enter your w-2 as it appears.   You will be able to adjust/allocate the wages when you prepare the part-year state return for the other state.   If you were a resident of two different states during the tax year, follow these steps.   How do I allocate (split) income for a part-year state return?

I would use eBay, but what matters the most here is that you use something that allows you to be prompted to remember what this transaction refers to in the unlikely event that you are asked to show support for the numbers.

It sounds like you are using TurboTax Online, but purchased a license code for TurboTax Desktop software.   If that is the case, follow the steps in this TurboTax Help Article to switch from TurboTax Online to TurboTax Desktop:   Install and/or open your 2024 TurboTax Desktop. If you have not installed TurboTax Desktop software, select the product you need to complete your return. Important: If your return includes a state, make sure you also install the corresponding state program(s) in order to proceed. Select Continue From TurboTax Online. Sign in to your Intuit Account. Your data will be imported into TurboTax Desktop, and your return will open once data transfer is complete.

The problem seems to be that the partnership return was prepared incorrectly. The property hasn't been sold.  Thus, its cost and probably most other expenses regarding the property should be reflected in the ending inventory.  I think it is crucial that a corrected return and K-1s be filed. Failure could prompt an IRS audit. You can't ignore what is on the K-1. The IRS sure wouldn't.  A tax pro should probably be consulted as to what can be expensed and what must be included in ending inventory costs.

According to the instructions for Form 8962, it only needs to be filed if you have a premium tax credit, which would only occur if you had entries in column C on your Form 1095-A. Since you don't have that, the form would not need to be included with your tax return:  

" You would need to look at your 2023 W-2 and any other income documents to see how much state tax was withheld."   Would this be the same as the amount from Line 5d of Schedule A? Or would it be Line 5e (smaller of the 2 amounts, 5d or 10,000)?   This "Total of all your payments..." question has been confusing me and I'm glad to have found this topic. I would appreciate your response. Thanks!

It varies from state to state.  Some states are fairly quick with refunds, while other states can take a long time processing returns--even several weeks--as they crack down on detecting fraudulent returns.     Here are some things you should check:   First, you need to be sure your state return was successfully filed.   If you efiled, be sure your efiled state return was accepted.  If you used Online TurboTax, you can check by looking at the Tax Home in your Online account.   Or did you choose to file by mail instead?  TurboTax does not mail it for you.  If you chose that method, you have to print, sign, date, and mail it.   The FAQ below tells how to check on a state refund and has a link for your state.  Then you'll see information for your state (which may include info on how long it takes in your state) and a link to go to your state's "Where's My Refund" tool.   Your state may also have a FAQ section at it's "Where's My Refund" site that tells how long to expect in your state.   Choose your state from the table in this FAQ: FAQ:  How do I track my state refund? https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_...1

You can group them all together on the other medical expenses paid screen, but you need to keep records of the detail in case of inquiry.  Do not duplicate anything you include in the total.      The interview goes through each category and those categories are each reported on the Medical Expenses worksheet.   But only the total of that worksheet goes to Schedule A.       You can only deduct the expenses that are in excess of 7.5% of your adjusted gross income (AGI) and you must itemize instead of taking the standard deduction.