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Yes, the information of Form 8949 flows to Schedule D.  You do not report any escrow information when reporting the sale of the home.  Commissions and other sales expenses are a reduction to sales pr... See more...
Yes, the information of Form 8949 flows to Schedule D.  You do not report any escrow information when reporting the sale of the home.  Commissions and other sales expenses are a reduction to sales proceeds, if not already reflected on the 1099-S.  If you all the gain from the sale is excluded due to the exception for sale of personal residence you skip the adjustments for sales expenses.  Otherwise, after entering the amount on the Form 1099-S, you will enter those as an adjustment.  
Hi Kesha, No. I do have a W-2 from my work, but also a W-2 from IHSS for my wife in taking care of her mom in our home. Box 1 actually had a monetary amount, but I believe Box 12 was marked “II” wit... See more...
Hi Kesha, No. I do have a W-2 from my work, but also a W-2 from IHSS for my wife in taking care of her mom in our home. Box 1 actually had a monetary amount, but I believe Box 12 was marked “II” with an amount. I attempted to look online on how to report this and read I should leave Boxes 1-8 blank but mark 12? Is this why? What do you recommend from here if my Federal was accepted already?
First, delete the contribution you started and then downgrade back to Free edition.  Delete the page titled IRA Contributions Worksheet.   How to delete forms in TurboTax Online   How to dele... See more...
First, delete the contribution you started and then downgrade back to Free edition.  Delete the page titled IRA Contributions Worksheet.   How to delete forms in TurboTax Online   How to delete forms in TurboTax Desktop   How to downgrade in TurboTax Online
@ladyswg  You appear to be using the desktop version.   If so, you can go into Forms Mode and see the calculation TurboTax used on the Qualified Dividends and Capital Gains Tax Worksheet.    In Form... See more...
@ladyswg  You appear to be using the desktop version.   If so, you can go into Forms Mode and see the calculation TurboTax used on the Qualified Dividends and Capital Gains Tax Worksheet.    In Forms Mode when you look at the list of forms in the left column, that worksheet is likely abbreviated as qual div/cap gain (or similar.)
Where to add an IRA distribution 1099-R?
To file taxes for your son using TurboTax, you'll need to create a new account for him. TurboTax Online only allows one tax return per account, so you can't use your existing account to file another ... See more...
To file taxes for your son using TurboTax, you'll need to create a new account for him. TurboTax Online only allows one tax return per account, so you can't use your existing account to file another person's taxes. Here's what you need to do: Create a New Account: Go to the TurboTax website and sign up for a new account using a different email address. This will allow you to start a new tax return for your son. Use TurboTax Desktop: If you prefer, you can use TurboTax Desktop software, which allows you to file multiple returns from one installation. This might be more convenient if you have several returns to file Permissions Needed You will need your son's permission to file his taxes. Ideally, you should have written consent or a Power of Attorney to ensure everything is legally compliant   Original Post 
It is $87,840.46.  However, for purposes of reporting the sale in TurboTax, enter $28,500 (the purchase price), because depreciation can't lower your 'Basis' below zero.
Thanks.  I was entering it in the right place.  But it looks like TT moved it over to the correct box after a few times of me delting and re-entering it.  not sure what changed except for my actual m... See more...
Thanks.  I was entering it in the right place.  But it looks like TT moved it over to the correct box after a few times of me delting and re-entering it.  not sure what changed except for my actual medical dedcutions for treatment etc I lumped them all together instead of breaking out each type. Does not make sense to me why this would fix it but it did.            
If you are using the online account you will need to set up a new account under his name. You cannot use the same online account for more than one person. For the desktop version you can e-file up to... See more...
If you are using the online account you will need to set up a new account under his name. You cannot use the same online account for more than one person. For the desktop version you can e-file up to 5 returns using the same program.
All you need to do is show the ending inventory as $0 in the year you end the business. Your cost of good sold is your beginning inventory, plus purchases, less your ending inventory. So the missing ... See more...
All you need to do is show the ending inventory as $0 in the year you end the business. Your cost of good sold is your beginning inventory, plus purchases, less your ending inventory. So the missing inventory will be entered as cost of goods sold on your final business return. 
If you aren't the deceased's spouse, when you inherit an HSA the value of that HSA at the owner’s death is taxable income that year.  You can offset this tax liability by paying the deceased’s medica... See more...
If you aren't the deceased's spouse, when you inherit an HSA the value of that HSA at the owner’s death is taxable income that year.  You can offset this tax liability by paying the deceased’s medical bills within a year of death.  You are not taxed on any inherited HSA money you use to pay the deceased medical bills, as long as you do it within 12 months.  If you didn't/don't pay the medical expenses of the deceased, your inherited HSA is taxable.  The taxable amount would be the amount in Box 1, that should have been distributed to you.     The fact that the Health Savings Account did not earn any income is not unusual.  Many, if not most employer HSA plans do not pay any interest and offer no investment options for the funds in the HSA.      When you enter your Form 1099-SA, answer the question "Did you spend your HSA money on medical expenses only, answer "No, I didn't." and then indicate you didn't spend any of it on medical expenses.   After entering that question, you'll land on the "Here's what we have so far" screen.  Click on Done Next screen should be "Now let's work on [your] HSA"  click on Continue Answer "Yes" when asked if you inherited the HSA If you didn't pay any medical bills for the deceased, enter zero, and enter zero for the HSA account value on December 31, 2024. Answer No, when asked if you put money in an HSA Answer the Medicare question For "Report Death or Disability Exception" enter the total amount of your HSA distribution The amount you received from your inherited HSA will appear as taxable income on Schedule I of Form 1040 on line 8.f.
When you complete the income section, select done at the bottom and it asks a series of questions, including the foreign assets question. @Clem5 
Hi,  I have a 12 year old child who participates in 4-H stock show every year. This year when he sold his animal at auction they sent him a 1099 MISC for $8,550. Should I create an account for him w... See more...
Hi,  I have a 12 year old child who participates in 4-H stock show every year. This year when he sold his animal at auction they sent him a 1099 MISC for $8,550. Should I create an account for him with intuit to file this or can I file it in my intuit account since he is still my dependent? 
Assuming you're referring to the control number (box D) on your W-2, you don't need to enter it (unless you may be trying to import it).   If you get errors when attempting to import your W-2, you ... See more...
Assuming you're referring to the control number (box D) on your W-2, you don't need to enter it (unless you may be trying to import it).   If you get errors when attempting to import your W-2, you may need To type it in yourself (download/print a copy and then manually enter your W-2 information).
Good information - thank you for the help.   If I dont have a CDHP, it sound like this $509 carry over every year on my taxes like this - is that correct? Most importantly - I am still not clear on... See more...
Good information - thank you for the help.   If I dont have a CDHP, it sound like this $509 carry over every year on my taxes like this - is that correct? Most importantly - I am still not clear on how to proceed with the tax filing - the Federal "smart check" in Turbo-Tax is giving a validation error on form 8889 box 1 to indicate CDHP coverage during 2024 for myself or family, but I don't have a CDHP; should I leave it blank?    
Thanks for reporting back.   Sounds like something needed to be "reset".   In a similar vein deleting a form and re-entering it sometimes resolves an issue.   We're glad you can proceed.
Sometimes you need to clear your cache (that is, remove these temporary files) because a full or corrupted cache can cause problems in TurboTax.  You can try these steps if you are using the online v... See more...
Sometimes you need to clear your cache (that is, remove these temporary files) because a full or corrupted cache can cause problems in TurboTax.  You can try these steps if you are using the online version:   Clearing your Cache and Cookies Using a different browser Opening an Incognito Window Please reach out again if your problem persists.
I've owned an investment property since 2020 but and only switching to Turbotax this year. How do I enter my depreciation and rental information from previous years?
What TurboTax program are you using? Online or Desktop?   I suggest you return to  Deductions & Credits Your Home Mortgage Interest, Points, Refinancing, and Insurance       Select "Y... See more...
What TurboTax program are you using? Online or Desktop?   I suggest you return to  Deductions & Credits Your Home Mortgage Interest, Points, Refinancing, and Insurance       Select "Yes' on the first screen asking "Did you pay any home loans in 2024?' On the next screen if the lender is listed, delete it if the screen is asking "Who's your mortgage lender?' leave that blank and click continue  the screen may then insist in the name of the lender, select Back and Select Back again  Now, again select "Mortgage Interest, Points, Refinancing, and Insurance" the next screen should show "Home loan deduction summary" screen make sure that list is empty             Look in that section for any entries that should not be there