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April 19, 2025
2:03 PM
@abhi1024 , you have to look at your agreement with your employer. I know for a fact when I was in a similar situation , my US employer used my US income and my foreign income to create a Gross-u...
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@abhi1024 , you have to look at your agreement with your employer. I know for a fact when I was in a similar situation , my US employer used my US income and my foreign income to create a Gross-up and on top the of agreement to keep my hypothetical US taxes the same, created more complex issues. Companies do this all the time. So I would suspect that the your Indian Employer is on correct legal grounds. I would suspect that you are getting paid both in India and the USA. and paying taxes in both India and the USA.
IMHO, they are probably correct -- depends on what the actual agreement calls for. I would not rock the boat without clear understanding of the agreements for the deputation.
Is there more can do for you ?
April 19, 2025
1:58 PM
Turbotax Premier asking for total amount of IRAs as of 12/31/2024 during interview. Why? Have Never been asked this question during 15+ years of Turbotax. How do you get values without just adding u...
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Turbotax Premier asking for total amount of IRAs as of 12/31/2024 during interview. Why? Have Never been asked this question during 15+ years of Turbotax. How do you get values without just adding up in your log ons with financial institutions? More overreach and data Mining !
April 19, 2025
1:57 PM
last year , Aug 09, 2024, I withdrew $10065.89 CAD (equal $6998.22USD) from OPTIONAL RRIF (Account number 50013616 RRIF), withholding Taxes,$2516.47CAD (equal $1.749 USD), Net Amount:$10065.89-2516.47...
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last year , Aug 09, 2024, I withdrew $10065.89 CAD (equal $6998.22USD) from OPTIONAL RRIF (Account number 50013616 RRIF), withholding Taxes,$2516.47CAD (equal $1.749 USD), Net Amount:$10065.89-2516.47=$7,549.42 (equal $7549.42/1.43835=$5,248.67USD) .
Summary: 1.Our SSA-1099 shall include two parts :First part,US part; (24236.40 -2096.40)+(12118.40-2096.40). Second part, Canada part;$5248.67. Our SSA total:$3,2162.00 +5248.67=37410.67USD.
2. Our total income: $37410.67+6356.00 (1099-INT)+6520.00(1099-R)=$50286.00
3.. Waived Taxes in 2024: $32162.00.
So, we our total income Taxble in 2024 is $50286—32162.00=$17986.00USD
After I fill up 1040-x, I will get how much I need to pay tax in 2024 income tax.return.
April 19, 2025
1:53 PM
Topics:
April 19, 2025
1:53 PM
Topics:
April 19, 2025
1:48 PM
Try using zero
April 19, 2025
1:38 PM
Grateful for your assistance. Thank you!
April 19, 2025
1:35 PM
Topics:
April 19, 2025
1:24 PM
I received a notification in the Mail stating my electronic payment could not be processed due to insufficient funds in my account. How ever the entire amount was indeed withdrawn.
April 19, 2025
1:24 PM
Hi Kristina, Box 14 had a negative amount in it, so that's what I put on the k-1 box 14. But with code "A" in box 14 selected, the amount in box 14 doesn't matter, positive or negative. It seems ...
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Hi Kristina, Box 14 had a negative amount in it, so that's what I put on the k-1 box 14. But with code "A" in box 14 selected, the amount in box 14 doesn't matter, positive or negative. It seems to assume that all capital losses as well as ordinary income losses are due to self employment (not actually true here), and get added back into 8960 4b (disallowed). So taxes go up. Thanks!
April 19, 2025
1:23 PM
This is very frustrating. California Amended returns can be e-filed, but Turbo Tax is not giving an option to mail the Amended return in. I have used all my allowed e-files for family, and I do not w...
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This is very frustrating. California Amended returns can be e-filed, but Turbo Tax is not giving an option to mail the Amended return in. I have used all my allowed e-files for family, and I do not want to purchase the professional edition just for this one return.
April 19, 2025
1:19 PM
We have been renting a building for business purposes for 17 years but renovated before moving in, and therefore lots of leasehold improvements that we have depreciated over the years. Just before ...
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We have been renting a building for business purposes for 17 years but renovated before moving in, and therefore lots of leasehold improvements that we have depreciated over the years. Just before our lease ended last summer, we had to do a bunch more renovating/repairs (due to aging, not misuse) that we agreed to with the owner. Do we add that amount to the leasehold improvements or simple contribute it to repairs.
April 19, 2025
1:12 PM
1 Cheer
@rmeades Go to this IRS website for information on using an IP PIN when duplicate SSN have been used on e-filed tax returns - https://www.irs.gov/newsroom/irs-takes-steps-to-help-prevent-refund-delay...
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@rmeades Go to this IRS website for information on using an IP PIN when duplicate SSN have been used on e-filed tax returns - https://www.irs.gov/newsroom/irs-takes-steps-to-help-prevent-refund-delays-by-accepting-duplicate-dependent-returns-with-an-ip-pin-for-2025-filing-season-taxpayers-encouraged-to-sign-up-soon-for-ip-pin-online-account
April 19, 2025
1:05 PM
1 Cheer
For real estate, you don't divide the percentage like you referred to; you report 100%. However, TurboTax is not set up to automatically report this situation (and in prior years directly told you t...
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For real estate, you don't divide the percentage like you referred to; you report 100%. However, TurboTax is not set up to automatically report this situation (and in prior years directly told you to report it incorrectly and pay WAY more tax than you should). It isn't easy to report it, so you may consider a tax professional this year. If you try it in TurboTax, you need to know: How much depreciation was taken. Exact purchase price (including closing costs that add to the Basis). Exact selling price (after subtracting pertinent selling fees). Without knowing the exact numbers, my first guess is that you have no gain and no loss. But if you have a 1099-S, it needs to be reported.
April 19, 2025
12:59 PM
To change your 2023 AGI, click on File on the left side of the online program screen. On Step 3 click on Revisit. Change the AGI in Step 3
April 19, 2025
12:53 PM
April 19, 2025
12:48 PM
every year I prepare form 1116 for foreign tax credit and the desktop generate an equivalent form for AMT calculation. This year (2024) the forms are created but no data carries over.
April 19, 2025
12:44 PM
How do I wire Oklahoma NR form 500-B if none of your associates/experts I spoke with know what it is, and it is not in your data base? I need to wire this verification of withholding form to get my ...
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How do I wire Oklahoma NR form 500-B if none of your associates/experts I spoke with know what it is, and it is not in your data base? I need to wire this verification of withholding form to get my refund!
April 19, 2025
12:44 PM
In reddit, there is some evidence that people tried the identity protection PIN route, but ended up still having to submit by mail instead of electronically. Plus, since it wasn't fraud, I'm worried...
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In reddit, there is some evidence that people tried the identity protection PIN route, but ended up still having to submit by mail instead of electronically. Plus, since it wasn't fraud, I'm worried that requesting the ID protection PIN will throw a bad light on my dependent's return event though she successfully corrected it, or on us for all future returns. But I also worry that just filing by mail will delay the IRS receiving our payment now that it is April 19! (I just kept clicking resubmit since April 15.)