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April 15, 2025
3:30 PM
When you have a loss on a Schedule C, the loss isn't deductible unless you have checked a box on the form to indicate that your investment is at risk. Go back through the questions for your business...
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When you have a loss on a Schedule C, the loss isn't deductible unless you have checked a box on the form to indicate that your investment is at risk. Go back through the questions for your business and make sure you have checked the box, or answered the question yes, to indicate that All Investment is at Risk. Once checked, your loss will then flow to your Form 1040 and offset other income.
April 15, 2025
3:30 PM
At this time, we are not sure.
April 15, 2025
3:29 PM
Wow, I love using TurboTax Premium to review everything, and the extra help along the way is perfect. This year it was great to learn that auto insurance medical cost could be added to health care p...
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Wow, I love using TurboTax Premium to review everything, and the extra help along the way is perfect. This year it was great to learn that auto insurance medical cost could be added to health care premiums.
April 15, 2025
3:29 PM
Please see Error 1603 for additional steps that might help resolve this issue. There are additional troubleshooting steps included in this link that relate directly to Microsoft and Windows.
@...
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Please see Error 1603 for additional steps that might help resolve this issue. There are additional troubleshooting steps included in this link that relate directly to Microsoft and Windows.
@Millannacellrose
April 15, 2025
3:29 PM
Para hacer tus impuestos ve a TurboTax en español, las preguntas y la información van a estar en español. El programa está diseñado para guiarte durante el proceso y pedir más información si es nece...
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Para hacer tus impuestos ve a TurboTax en español, las preguntas y la información van a estar en español. El programa está diseñado para guiarte durante el proceso y pedir más información si es necesaria y completar todas las formas que necesites. Al final de tu declaracion, el programa te dara opciones para enviar tus impuestos.
También tienes la opción de pedir que un experto en impuestos bilingüe revise tu declaración y la termine por ti usando TurboTax Live.
También si tienes más preguntas las puedes hacer aquí en español.
¿Qué es la Garantía de cálculos 100 % precisos de TurboTax?
¿Qué sucede si necesito que mi declaración se revise por completo?
April 15, 2025
3:29 PM
Thank you @MarilynG1 . I have no 1099-SA for this tax year as I didn’t take a distribution from my HSA but I did include medical expenses on NJ only that I plan to take a distribution in a future...
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Thank you @MarilynG1 . I have no 1099-SA for this tax year as I didn’t take a distribution from my HSA but I did include medical expenses on NJ only that I plan to take a distribution in a future year. Hope this was allowed. In the year that I take the HSA distribution for these expenses, I will get a 1099-SA and report as you have described.
April 15, 2025
3:29 PM
No. Only taxes paid in 2024 and assessed prior to 2025 can be deducted for 2024. If paid in 2025, you can deduct the personal property tax on your 2025 tax return.
April 15, 2025
3:28 PM
Here is a link to the ID.ME help Center.
April 15, 2025
3:28 PM
There is a credit for the elderly and disabled using Schedule R but most taxpayers do not qualify since the maximum income limits are so low.
Click on Federal Taxes (Personal using Home & Busin...
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There is a credit for the elderly and disabled using Schedule R but most taxpayers do not qualify since the maximum income limits are so low.
Click on Federal Taxes (Personal using Home & Business)
Click on Deductions & Credits
Click on I'll choose what I work on (if shown)
Scroll down to Other Deductions and Credits
On Elderly or Disabled credit, click on the start button
If you are age 65 or older you get an increase in the Standard Deduction
Standard deductions for 2024
Single - $14,600 add $1,950 if age 65 or older Married Filing Separately - $14,600 add $1,550 if age 65 or older Married Filing Jointly - $29,200 add $1,550 for each spouse age 65 or older Head of Household - $21,900 add $1,950 if age 65 or older
April 15, 2025
3:28 PM
Do you know if someone already has installment agreement with IRS if they have to submit a new agreement again if they have to pay again this year? I was trying to help someone submit their taxes th...
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Do you know if someone already has installment agreement with IRS if they have to submit a new agreement again if they have to pay again this year? I was trying to help someone submit their taxes they are still paying the agreement they made on last years taxes. They were asking me if the existing payment agreement would just include what they owe this year and would continue until both years are paid.
April 15, 2025
3:28 PM
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April 15, 2025
3:27 PM
Delete the incorrect 1099:
Windows instructions
Open or continue your return.
Switch to Forms Mode by selecting the Forms icon.
From the menu, select the form you want to remove.
...
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Delete the incorrect 1099:
Windows instructions
Open or continue your return.
Switch to Forms Mode by selecting the Forms icon.
From the menu, select the form you want to remove.
After the form is generated in the right pane, select the Delete Form button.
Follow any onscreen instructions to remove the form or forms.
Mac instructions
Open or continue your return.
Switch to Forms Mode by selecting the Forms icon.
From the menu, select the form you want to remove (if you don't see it, select Open Form at the top).
From the Forms menu, select Remove [form name].
Follow any onscreen instructions to remove the form or forms.
April 15, 2025
3:27 PM
It's impossible to tell without seeing your return, but it does take a few moments sometimes for the refund meter to react to something you entered into it. Do you have an underpayment penalty?
...
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It's impossible to tell without seeing your return, but it does take a few moments sometimes for the refund meter to react to something you entered into it. Do you have an underpayment penalty?
You can preview your tax return to make sure everything is accurate. You can do this by following the instructions below.
Try previewing your actual return as it is a more accurate reflection of your refund amount or tax-due amount.
You can get to your tax return in TurboTax desktop as follows:
Switch to Forms Mode, and then (see screenshots below for additional guidance)
Scroll through your forms in the left panel and
Click on the form you want to preview (Example Form 1040)
You can get to your Tax Return in TurboTax Online as follows:
Go to "Tax Tools" in your left panel,
Select "Tools" and then
Select "View Tax Summary" and
Select "Preview Form 1040"
Click here for "How do I update and print a new W-4?"
Click here for "Why do I owe taxes?"
Click here for "Video: Why Would I Owe Federal Taxes?
April 15, 2025
3:26 PM
If you are referring to the personal income tax return for WI line 13 is for the total of certain federal itemized deductions exceeds your Wisconsin standard deduction, you may be able to claim the i...
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If you are referring to the personal income tax return for WI line 13 is for the total of certain federal itemized deductions exceeds your Wisconsin standard deduction, you may be able to claim the itemized deduction credit. If you did not itemize or if it is lower than the Wisconsin standard deduction the amount would be $0.
April 15, 2025
3:26 PM
Sorry for your frustration. Here's what I found on Finding a Tax File on MAC.
@silverbay19
April 15, 2025
3:26 PM
If you want to calculate cost of goods sold using inventory, in TurboTax Home & Business, enter your beginning and ending inventory using these steps:
Click the Business tab
Click Busines...
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If you want to calculate cost of goods sold using inventory, in TurboTax Home & Business, enter your beginning and ending inventory using these steps:
Click the Business tab
Click Business Income and Expenses at the top
Click I'll choose what I work on
The screen "Let's gather your business info" appears.
Click Start or Update next to Profit or Loss from Business
Click Edit next to the name of your business
Click Start or Update next to Inventory and Cost of Goods Sold
Click Yes for Do you have inventory to report?
Click Yes for Cost method or check the box for another valuation method
The next screen is where you enter your inventory. See screenshot below:
If you are not using inventory, you would just enter the cost items as expenses.
April 15, 2025
3:26 PM
f4562 is Depreciation and Amoritization. Its located in the menu just under Schedule E. line 11 is the Business Income Limitation. While in 'Forms' and not 'Step-by-Step', if you mouse click on thi...
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f4562 is Depreciation and Amoritization. Its located in the menu just under Schedule E. line 11 is the Business Income Limitation. While in 'Forms' and not 'Step-by-Step', if you mouse click on this line, then click the magnifying glass that pops up, then the worksheet that feeds this line opens up. That worksheet is called Depr Options. Line 3 of that worksheet has the business income, or should have. My point being that TurboTax incorrectly excludes business rental income on this line.
April 15, 2025
3:26 PM
I'm in the same situation! I don't owe any money in back taxes, child support, etc. and I got $0. It even said in Turbo Tax something to the effect of this doesn't happen often then told me I get $0 ...
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I'm in the same situation! I don't owe any money in back taxes, child support, etc. and I got $0. It even said in Turbo Tax something to the effect of this doesn't happen often then told me I get $0 back. The odds of me getting the exact amount as what I paid during the year to the penny seems odd. Good thing I didn't hire someone to do my taxes since I'd then be out that amount. Now since I chose to pay gor e-filing with my refund amount do I have to pay for that $25?
April 15, 2025
3:25 PM
If it's efiled with the return, the IRS will accept the signed signatures in the return thus this does not need to be signed separately.
April 15, 2025
3:25 PM
why is there a payment
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