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April 19, 2025
9:24 AM
9 Cheers
I am outraged as well but do they care?
April 19, 2025
9:22 AM
I am done
April 19, 2025
9:19 AM
I received a 1099-K for 2024 from the software we use to collect rent. As a property management company, we typically issue 1099-MISCs to the property owners for their rental income, since the money ...
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I received a 1099-K for 2024 from the software we use to collect rent. As a property management company, we typically issue 1099-MISCs to the property owners for their rental income, since the money we collect isn’t ours—it goes into a trust account on their behalf. Because of that, we usually exclude that income from our gross revenues. Now that I’ve entered the 1099-K into TurboTax, it’s showing the full amount of rent collected (including what we collected on behalf of the owners) as income, which inflates our revenue. I understand I need to report the 1099-K, but how do I properly offset the amounts we disbursed to the owners—those which we’ve already reported on the 1099-MISCs we sent them?
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April 19, 2025
9:16 AM
April 19, 2025
9:14 AM
the amount I paid was higher than the new amount, will they refund the difference?
April 19, 2025
9:11 AM
No don't amend since the IRS already corrected your return and you paid the tax due. Or until you figure out what other income the IRS changed or you left out. I would double check all your 1099R ...
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No don't amend since the IRS already corrected your return and you paid the tax due. Or until you figure out what other income the IRS changed or you left out. I would double check all your 1099R forms, that they are on the right line 4 or 5 and you got the right taxable amount on 4b and 5b. No, Turbo Tax has not been making any calculation errors on SS.
April 19, 2025
9:09 AM
unlike before and after age 59 1/2, there is no special rule for withdrawal after age 72 and before age 73.
April 19, 2025
9:07 AM
How to mail a return from the Online version https://ttlc.intuit.com/community/printing/help/how-do-i-print-and-mail-my-return-in-turbotax-online/01/26258
April 19, 2025
9:05 AM
The notice from the IRS lowered my taxes, I'm thinking I'll need to file a amended return, however if TT is making a error in calculation my SS income, I would not be able to file using TT.
April 19, 2025
9:01 AM
Ok I tested it. You get 0 on 6b if you didn't answer the Foreign question right. But since you have an amount on 6b then it not for the Foreign question. So the IRS must have increased some other...
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Ok I tested it. You get 0 on 6b if you didn't answer the Foreign question right. But since you have an amount on 6b then it not for the Foreign question. So the IRS must have increased some other of your income. As I said.....Like the taxable amount of a 1099R you got or you missed entering some income. Like if a 1099R got entered on the wrong line 1040 line 4 or 5, the IRS would miss it and think you didn’t report it. By increasing your other income it made more of your SS taxable. Oh, is the full amount of your SSA-1099 in box 6a?
April 19, 2025
8:55 AM
What did you use on 8995A to figure the percentage of loss carryforward?
April 19, 2025
8:55 AM
Hello, I owed around 200$ in taxes and scheduled an e-check to automatically take it out. When I look at my Bank account that 200$ was refunded.
April 19, 2025
8:54 AM
Agreed. Having same issue. Didn't autopopulate for 2024 tax year; did beforehand. Substantial loss carryforward, not sure if this line 31 percentage figure affects that carryforward. TT can be pr...
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Agreed. Having same issue. Didn't autopopulate for 2024 tax year; did beforehand. Substantial loss carryforward, not sure if this line 31 percentage figure affects that carryforward. TT can be pretty useless for some of this more arcane stuff. My accountant says it should autopopulate as well.
April 19, 2025
8:50 AM
yes there is an amount on 6b
April 19, 2025
8:49 AM
Remover Box 53 gains and add them to Box 52. That is, make sure Box 52 ends up the same value as Box 21 and Box 53 is zero.
April 19, 2025
8:49 AM
My return was accepted, but it has been a week, and the funds have still not been taken out of my bank account.
April 19, 2025
8:49 AM
Did you have an amount on line 6b or 0? How to contact Turbo Tax https://ttlc.intuit.com/community/using-turbotax/help/how-do-i-contact-turbotax/00/26991
April 19, 2025
8:47 AM
It's more accurate to say that you own 0%. Your son owns 100%. He should claim the income and expenses from the property on his taxes. The money you receive is a GIFT from him, and subject to gift...
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It's more accurate to say that you own 0%. Your son owns 100%. He should claim the income and expenses from the property on his taxes. The money you receive is a GIFT from him, and subject to gift tax exclusion (I think $17,000 this year but you'll have to verify). You don't own the property; you can't claim expenses on it (I'm sure he's claiming the expenses if you are not), nor should you be responsible for claiming the income on something you don't own. The income was passed on to you via private exchange.
April 19, 2025
8:47 AM
I verified the question about a living in foreign countries, they are no to all
