All Posts

Form 3115 and attachments have to be sent in separately ahead of filing (preferably quite a ways ahead).  The rules for that are in the Form 3115 IRS instructions....   And Form 3115 also has to be part of the tax filing itself (an unsigned copy). IF I e-file, I know that I have to mail in 8453 separately and I'm sure it needs to include the separate documentation that I attached to the original Form 3115.    What I'm confused by is whether Turbo Tax efile submits Form 3115 (it is in TurboTax and I can fill it out there) or whether I send it along with 8453.     IF I don't have a clear answer, I will send it in with 8453 (can't hurt, I assume).    

Funds are usually withdrawn on the payment date you specify in TurboTax, assuming your e-filed return has already been accepted (received) by the IRS. If that date falls on a weekend or federal holiday, the funds are typically withdrawn the next business day. If you file right before (or on) the April 15, 2025, deadline, the IRS may not be able to debit your payment until after the deadline due to high e-filing volume. Also, it can take your bank another few days to post the debit to your account. As long as you file your return or extension on or before April 15, 2025, and you select April 15, 2025, or earlier as your payment date, you won't get penalized for late payment. If you don't see the debit in your bank account 7–10 days after your return has been accepted, call IRS e-file Payment Services at 888-353-4537 or contact your state tax agency.

@classicore7 , there is NO tax implications when you move  monies between  Foreign and domestic accounts that you own.  While the money is abroad FBAR and FATCA  forms are the only ones  that come to mind.    If the monies are from  foreign trust / estate / person then there may be  a requirement to file form 3520.   But  all these are informational  forms.   Is there more I can do for you ?

According to the IRS:   The final tangibles regulations synthesize existing case law and prior administrative rules into a framework to help you determine whether a cost is deductible as a repair and maintenance expense or must be capitalized because it's an improvement. If the amounts are not paid or incurred for an improvement to tangible property as determined under the final tangibles regulations, then the amounts generally are deductible as repairs and maintenance. A unit of tangible property is improved only if the amounts paid are: For a betterment to the unit of property; or To restore the unit of property; or To adapt the unit of property to a new or different use. The safe harbor elections mean you don't have to determine if the cost is for a repair or an improvement.  That doesn't mean you have to capitalize the cost of a repair because it exceeds the safe harbor amount.  If it doesn't qualify as an improvement, it is a repair and maintenance expense.  It does require an analysis of the facts and circumstances.      

Schedule X is available within TurboTax for electronic filing per this Hawaii Individual Form Availability list.  If you have already run the manual update and the state forms are still having an error message upon e-filing, then we can try one more thing.   An option available is for you to provide a TurboTax ".tax2024" file to us that is experiencing this issue so we can take a look at your return.  This will help determine what the issue is and provide you with a solution.    If this is something you'd like to do, and you are using TurboTax Desktop, on your menu bar at the very top, click Online and then Send Tax File to Agent. When you click to send, you will get a pop-up asking you if you want to send a diagnostic copy for an agent.  Select send and then you will get another popup with a token number.   If you are using TurboTax Online, select an income section on your return to pull up the Tax Tools option on the left side of the screen.  When you see Tax Tools, click on it.  You will then select Tools.  This will pull up a pop up box titled Tools Center.  In this box, select Share my file with Agent.  Click okay on the pop up informing you of what a diagnostic copy is.  You will then get a pop up box with a token number.      Reply with the token number and we’ll be able to open a TurboTax file with your numbers but not your personal information.