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April 15, 2025
9:25 AM
Remember that an extension does not give you more time to pay. You need to pay your tax due by April 15. The extension only gives you more time to prepare and file your tax return forms.
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Remember that an extension does not give you more time to pay. You need to pay your tax due by April 15. The extension only gives you more time to prepare and file your tax return forms.
https://turbotax.intuit.com/irs-tax-extensions/
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-extension/need-file-extension-personal-state-taxes/L32Mt8ZNv_US_en_US?uid=m9a3q808
April 15, 2025
9:25 AM
I am in the same boat. This is annoying. Did yours move?
April 15, 2025
9:24 AM
Since it is a loan, it would be deductible as a bad debt, which gets short-term capital gain treatment. It is deductible against capital gains and up to an additional $3,000 deduction per year. Unuse...
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Since it is a loan, it would be deductible as a bad debt, which gets short-term capital gain treatment. It is deductible against capital gains and up to an additional $3,000 deduction per year. Unused deductions are carried over to the next year. You enter that in the Other Deductions and Credits section of TurboTax, then Nonbusiness Bad Debt. You can learn more in this IRS tax topic 453.
April 15, 2025
9:24 AM
Can I file an extension today?
April 15, 2025
9:24 AM
pdf won't print prior tax return
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April 15, 2025
9:24 AM
Here is a link: How do I request a refund for my TurboTax product?
April 15, 2025
9:23 AM
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April 15, 2025
9:23 AM
Yes. Interest earned on CDs is taxable, even if they are re-invested or not withdrawn.
April 15, 2025
9:23 AM
I paid myself an owner distribution from my pass through S-corp both in 2024 and in 2023. My CPA applied this as a non-taxable distribution so I would pay it under my personal tax. I wanted to do the ...
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I paid myself an owner distribution from my pass through S-corp both in 2024 and in 2023. My CPA applied this as a non-taxable distribution so I would pay it under my personal tax. I wanted to do the same this year but do not know where in turbotax. It was previously noted on my K-1 but I was not finding that option in turbotax. I also paid for my health insurance incorrectly with my business account (did not put it on the W2) so instead of a business deduction I need to pass it to myself so it is deducted from my personal tax return. Should this expense from my business account be under an owner distribution, owner benefit, or somewhere else?
April 15, 2025
9:23 AM
THANK YOU!! I was having issues with this and leaving that field blank fixed it. Woohoo!!
April 15, 2025
9:23 AM
Yes, option 1 is correct. Since you paid the expenses in 2024, you should report those business costs in that tax year. The reimbursement is business income, which you report in the tax year it was r...
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Yes, option 1 is correct. Since you paid the expenses in 2024, you should report those business costs in that tax year. The reimbursement is business income, which you report in the tax year it was received.
April 15, 2025
9:23 AM
There are several options when you have a tax bill that you don't have the money to pay. Refer to the following articles: How to Pay Taxes: 10 Ways to Pay Your Tax Bill, Unable to Pay Your Tax Bill?...
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There are several options when you have a tax bill that you don't have the money to pay. Refer to the following articles: How to Pay Taxes: 10 Ways to Pay Your Tax Bill, Unable to Pay Your Tax Bill? Here’s What To Do, and the IRS article What if I can’t pay my taxes?
April 15, 2025
9:23 AM
Go back and check the 1099R . Delete the 1099R and enter it again Manually. That usually fixes it especially if you imported it. Enter a 1099R under Federal Taxes Wages & Income Then scroll ...
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Go back and check the 1099R . Delete the 1099R and enter it again Manually. That usually fixes it especially if you imported it. Enter a 1099R under Federal Taxes Wages & Income Then scroll way down to Retirement Plans and Social Security Then IRA, 401(k), Pension Plan Withdrawals (1099-R) – Click Start For state boxes, if box 16 is empty or zero then for box 16 State Distribution put the same amount that’s in box 1. If box 14 is blank you can leave boxes 14,15 & 16 blank.
April 15, 2025
9:22 AM
If you go through the interview, you go through every section. But you can click on Deductions & Credits (either up top or to the left) to exit out of any section and skip over it.
April 15, 2025
9:22 AM
If you are using the online version, you will need to create a new account. You can only do one persons return per account.
April 15, 2025
9:22 AM
Thank you for your prompt response MaryK4. But I'm still a bit confused with your reply. So my question still stands, do I need to report the original 1099-S for $55K AND the Corrected 1099-S...
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Thank you for your prompt response MaryK4. But I'm still a bit confused with your reply. So my question still stands, do I need to report the original 1099-S for $55K AND the Corrected 1099-S for $0 on my 1040 Form OR do I have to report JUST the CORRECTED 1099-S for $0?
April 15, 2025
9:22 AM
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April 15, 2025
9:22 AM
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