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April 17, 2025
6:07 AM
Je n'ai que des achats, pas de vente. j'avais remplis les section requises 1-2-3-7, mais on dirait que le logiciel a fermé le formulaire puisqu'il n'avait pas de montant ni de GC. alors je me demande ...
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Je n'ai que des achats, pas de vente. j'avais remplis les section requises 1-2-3-7, mais on dirait que le logiciel a fermé le formulaire puisqu'il n'avait pas de montant ni de GC. alors je me demande si le logiciel a soumis le formulaire à RQ en même que ma déclaration. ou si je dois poster le formulaire à l'ancienne.
April 17, 2025
6:07 AM
@lishen Yes I have Capital losses from my T5008. If your T936 line 68140 was zero before then check it now and see if it has been populated with the total of all your box 21 T3 entries. Also make s...
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@lishen Yes I have Capital losses from my T5008. If your T936 line 68140 was zero before then check it now and see if it has been populated with the total of all your box 21 T3 entries. Also make sure box 21 equals box 53 and you don’t have anything in box 52.
April 17, 2025
6:07 AM
Hi. I’ve been with TURBO TAX for years and years. Unfortunately, I can’t find my answer anywhere. I’m 67 and retired 2025. Trying to understand how to avoid a huge capital gain tax (CGT) hit this yea...
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Hi. I’ve been with TURBO TAX for years and years. Unfortunately, I can’t find my answer anywhere. I’m 67 and retired 2025. Trying to understand how to avoid a huge capital gain tax (CGT) hit this year if I sell my SECOND home, and don’t want to wait until the end of the year to file with you and get the shock of my life. 🙂 Approximate/simple numbers: For 2025, Social Security income $35,000, plus adjusted SSI from 2024 but paid in 2025, $15,000: TOTAL SSI $50,000 Final job pay for January: $6,000. I plan to sell my house (owned 25 years). It’s a second home, paid $200k. let’s say profit after all deductions is, $500,000. Here are my questions: 1) Is SSI counted toward total income when IRS determines income? It appears this would be a difference in paying 0% CGT or 20%*. If SSI isn’t counted, does that really mean I don’t have to pay ANY CGT AT ALL since my non SSI income under $48,350? 2) Can you confirm that a second home does not have the wonderful $250k deduction/exclusion? 3) If I DO have to pay CGT on the $500,000 profit (whine!), what are my options other than get married, delay the sale, or make the house my primary residence for two years? Can I invest the $500,000 in an IRA and avoid CGT? Then slowly withdraw as I need it and pay regular taxes vs the huge hit?)? Just looking at any options or suggestions. 4) Is CGT based on what I SELL IT FOR, or its market value? 5) Are my monthly SSI checks reduced because of sale of house profits? 6) Right now, I’m not having taxes taken from SSI as I’m confused on what IRS considers taxable. I read that it is only HALF of total SSI, or am I misunderstanding that? I think these are questions that a lot of folks have and will benefit from your answers. lThank you!
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April 17, 2025
6:06 AM
Thank you for answering my question. I do have another question. Since I forgot to include my estimated state quarterly payments to my tax return, the amount that was owed has already been withdrawn ...
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Thank you for answering my question. I do have another question. Since I forgot to include my estimated state quarterly payments to my tax return, the amount that was owed has already been withdrawn from my checking account. How long do I wait to see if my State catches my error and refunds me before I file an amendment?
April 17, 2025
6:03 AM
Latest Turbotax update today corrected the problem with the T936 box 68140 not populating correctly when you have a capital loss on T5008. l was able to successfully Netfile my return. I wish you a...
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Latest Turbotax update today corrected the problem with the T936 box 68140 not populating correctly when you have a capital loss on T5008. l was able to successfully Netfile my return. I wish you all success!
April 17, 2025
6:03 AM
ACCEDEZ A MES DÉCLARATION ANTÉRIEIR
April 17, 2025
6:02 AM
I want to make sure this truly fixes this particular problem I have. I only have one attempt left and I don't want to run into the risk of being locked out :(
April 17, 2025
6:01 AM
Thank you Linda. I did find it and added the data.
April 17, 2025
6:01 AM
@Anne04 Thanks again for the info. Just to confirm, you have a capital losses in your T5008, right?
April 17, 2025
5:58 AM
1 Cheer
You might have answered a follow-up question incorrectly.
To enter a conversion in TurboTax Online:
Click on "Search" on the top right and type “1099-R”
Click on “Jump to 1099-R”...
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You might have answered a follow-up question incorrectly.
To enter a conversion in TurboTax Online:
Click on "Search" on the top right and type “1099-R”
Click on “Jump to 1099-R”
Click "Continue" and enter the information from your 1099-R
Answer questions until you get to “Tell us if you moved the money through a rollover or conversion" screen and choose “I converted some or all of it to a Roth IRA”
On the "Here's your 1099-R info" screen click "Continue"
Answer "Yes" to "Any nondeductible Contributions to your IRA?" if you had any nondeductible contributions in prior years.
Answer the questions about the basis from line 14 of your last filed Form 8606 and the value of all traditional, SEP, and SIMPLE IRAs
To enter a conversion in TurboTax Desktop:
Click "Federal Taxes" on the top and select "Wages & Income"
Click "I'll choose what to work on"
Scroll down and click "Start" next to "IRA, 401(k), Pension Plan (1099-R)"
Answer "Yes" to the question "Did You Have Any of These Types of Income?"
Click "I'll Type it Myself"
Choose "Form 1099-R, Withdrawal of Money from 401(k) Retirement Plans, Pensions, IRAs, etc."
Click "Continue" and enter the information from your 1099-R
Answer questions until you get to “What Did You Do With The Money” and choose “I moved it to another retirement account”
Then choose “I did a combination of rolling over, converting, or cashing out money.” and enter the amount next to "Amount converted to a Roth IRA account"
On the "Your 1099-R Entries" screen click "continue"
Answer "yes" to "Any nondeductible Contribution to your IRA?" if you had any nondeductible contributions in prior years.
Answer the questions about the basis from line 14 of your last filed Form 8606 and the value of all traditional, SEP, and SIMPLE IRAs
Please see How do I amend my federal tax return for this year? Generally, it is best to wait until your original return has been processed before sending Form 1040-X.
April 17, 2025
5:57 AM
Yes, I just successfully netfiled! I first checked the calculation and it matched my calculations. And I also undid the rounding TT told me to do when I was on the phone with them. But I kept the ch...
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Yes, I just successfully netfiled! I first checked the calculation and it matched my calculations. And I also undid the rounding TT told me to do when I was on the phone with them. But I kept the change to blank out box 52 and add to box 53 (made sure it equals box 21). I had done this already before my initial Netfile attempt last week and believe this still necessary according to CRA.
April 17, 2025
5:57 AM
Je croirais que oui, mais j'ai transmis hier en effaçant les gains en capitaux sur le T3 et j'attends quelques jours avant de retransmettre.
April 17, 2025
5:56 AM
Q. At what point in the Easy Step "walk me through everything" will Form 8615 pop up?
Trying to find it in the Easy Step table of contents.
A. It does not come up in "Easy Step". It's a backgr...
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Q. At what point in the Easy Step "walk me through everything" will Form 8615 pop up?
Trying to find it in the Easy Step table of contents.
A. It does not come up in "Easy Step". It's a background thing, depending on where the unearned income is entered. If the parent's info is needed, TurboTax will generate new interview questions.
April 17, 2025
5:56 AM
I completed and E filed my taxes on 4/14/25. I just checked and found out they were not submitted. Why?
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April 17, 2025
5:54 AM
what if I don't want to write off the cost?
April 17, 2025
5:53 AM
Hallelujah!! Update this morning worked and like so many of you I had capital gains on a T3 and net capital loss on T5008. It now works and I've netfiled
April 17, 2025
5:53 AM
This AC unit was purchased because the original unit failed and renters were suffering. I was restoring property to original condition, not trying to make upgrade or improvement. I consider this to...
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This AC unit was purchased because the original unit failed and renters were suffering. I was restoring property to original condition, not trying to make upgrade or improvement. I consider this to be a repair and want to expense it that way. Additionally, I am retired and have had no tax liability for 2 years now. Nothing changes on my return but now I have to pay someone to do my taxes b/c I do not know how to do this.
April 17, 2025
5:51 AM
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April 17, 2025
5:51 AM
If your spouse does not have income, then she would not need to file a return. NC is not a community property state so your income is not her income when it comes to taxes.
