All Posts
April 15, 2025
11:53 AM
Yes, you enter that in the Deductions and Credits section, then Estimates and Other Taxes Paid, then Sales Tax. Look for the option to enter Major Purchases where you can enter the sales tax on your ...
See more...
Yes, you enter that in the Deductions and Credits section, then Estimates and Other Taxes Paid, then Sales Tax. Look for the option to enter Major Purchases where you can enter the sales tax on your vehicle purchase:
April 15, 2025
11:53 AM
I applied a large enough portion of my 2024 Federal tax overpayment to my 2025 estimated tax to equal my total 2024 tax. Will this satisfy the IRS rule (from Pub. 505) that estimated tax payments ar...
See more...
I applied a large enough portion of my 2024 Federal tax overpayment to my 2025 estimated tax to equal my total 2024 tax. Will this satisfy the IRS rule (from Pub. 505) that estimated tax payments are not required if my "income tax withholding and refundable credits will be at least 100% of the tax shown on the 2024 return"? I anticipate that my 2025 income will be greater than 2024 and need to know if I need to make estimated payments based on the higher income. Obviously, I don't want to if I don't need to.
Topics:
April 15, 2025
11:53 AM
Sign into your federal tax return, scroll down and click on Add a State if you are using TurboTax Online.
In Desktop, open your return, and click on State Taxes at the top.
April 15, 2025
11:53 AM
I see several steps that need to be taken in your situation.
1. File an Identity Theft Affidavit with the IRS as soon as possible. You can do it using this website or by submitting Form 14039....
See more...
I see several steps that need to be taken in your situation.
1. File an Identity Theft Affidavit with the IRS as soon as possible. You can do it using this website or by submitting Form 14039. 2. I suggest that you report the gross proceeds that are reported on Form 1099-B on your tax return and then use the cost basis to match the proceeds to show zero gain/loss. Of course, you need to do that only for the fraudulent transactions. I would also include a statement to the return that explains what happened, as well as the online submitted form or Form 14039 from #1 above. This will mean that you have to print and mail your tax return. 3. You also want to inform your financial institution about the fraudulent transactions if you haven't done that yet. They might send you a corrected 1099-B. 4. As for Medicare, if you do not show gain/loss on your tax return as I am suggesting in #1, there will be no inflated income, and thus no changes for Medicare. However, if that is not the case, you could file Form SSA-44, which requests an adjustment based on a life-changing event.
April 15, 2025
11:53 AM
No i don't want to ask anything politely i want to talk **bleep** and be as disrespectful as possible.
April 15, 2025
11:52 AM
In TurboTax Home & Business, open your return and go to Business >> Business Income and Expenses >> "I'll choose what I work on."
Start/Update Profit or Loss from Business.
Edit the business ...
See more...
In TurboTax Home & Business, open your return and go to Business >> Business Income and Expenses >> "I'll choose what I work on."
Start/Update Profit or Loss from Business.
Edit the business you need to work on.
Under Business Expenses, Start/Update Other Common Business Expenses.
Start/Update Employee Expenses.
Start/Update Pension Plan Startup Costs.
Enter "Pension Plan Startup Costs" in the description box and enter the amount.
On the next page, check the "yes" box under "Did you provide an auto-enrollment option for retirement savings?"
On the page, "Is your pension plan qualified for the Pension Startup Credit?" check the "Yes" button.
The resulting message indicates you must go to Less Common Business Situations >> Business Credits >> Pension Plan Startup Costs to complete this credit.
@MollyShr
April 15, 2025
11:52 AM
Topics:
April 15, 2025
11:52 AM
In state of mn
Topics:
April 15, 2025
11:52 AM
Who does she live with? If she lives with you and you are the custodial parent, you can still claim her on the federal return as well, you just need to mark that the other parent is claiming her. ...
See more...
Who does she live with? If she lives with you and you are the custodial parent, you can still claim her on the federal return as well, you just need to mark that the other parent is claiming her. The only thing the non custodial parent can claim is the child tax credit. The custodial parent gets the rest of the credits. If you do not enter her on your federal return, yes, CA allows you to claim dependents on the state return that you did not on your federal return.
April 15, 2025
11:52 AM
Your Detroit city return should be filed with our Michian state return. Look for the Form 5118 with your Michigan tax return.
April 15, 2025
11:52 AM
The tax deadline is midnight April 15 in the time zone that the tax return is being sent from.
If you owe taxes payment is expected on or before April 15th. Any amount owed that is unpaid af...
See more...
The tax deadline is midnight April 15 in the time zone that the tax return is being sent from.
If you owe taxes payment is expected on or before April 15th. Any amount owed that is unpaid after April 15th is subject to interest and penalties.
@jpmanansala
April 15, 2025
11:52 AM
HOW CAN I E-FILE STATE AFTER ALREADY E-FILING FEDERAL
https://ttlc.intuit.com/turbotax-support/en-us/help-article/state-taxes/e-file-state-already-filed-federal/L1utGncEc_US_en_US?uid=m7xgrjec
April 15, 2025
11:51 AM
April 15, 2025
11:51 AM
I rent my home and do not live in it. Can I deduct medical expenses under my rental business. It is not an LLC
Topics:
April 15, 2025
11:51 AM
I have the 1095-A form but because it is under my moms name and includes my father siblings and myself, I don't know how to properly fill out or find the information after selecting that this is a sha...
See more...
I have the 1095-A form but because it is under my moms name and includes my father siblings and myself, I don't know how to properly fill out or find the information after selecting that this is a shared policy. Specifically the percentages of the policy amounts that I should claim on my return.
Topics:
April 15, 2025
11:51 AM
I don't want to exclude the income but do want to get credit for the tax already paid. Turbo Tax seems to not allow me to take this route.
April 15, 2025
11:51 AM
The IRS uses your prior year AGI to combat fraud.
You can find your 2023 Adjusted Gross Income (AGI) by:
Looking at line 11 on page 1 of your 2023 Form 1040
Requesting a transcript o...
See more...
The IRS uses your prior year AGI to combat fraud.
You can find your 2023 Adjusted Gross Income (AGI) by:
Looking at line 11 on page 1 of your 2023 Form 1040
Requesting a transcript of your 2023 tax return from the IRS. You can request your transcript online at the following link: Get Transcript
Please click on this TurboTax article for more information.
Check these items as well to ensure you have the correct number. If you:
Filed late last year after mid-November or your return was processed after that time—try entering 0.
Amended your return last year—make sure you’re using the AGI from your original return, not the amended one. (If you only have a 1040X form, it’s on line 1, column A).
Rounded your AGI to the nearest dollar—be sure to round up when it’s 50 cents or more and down when it’s 49 cents or less.
Filed with your spouse last year—you and your spouse have the same 2023 AGI. (Don’t split the AGI amount or enter 0 for one of you).
Time-saving Tip: If what you entered is correct and you continue to get a reject, you won't be able to e-file. There's probably a data mismatch at the government, or some other situation beyond your control that prevents your return from being e-filed. In this case, your only option would be to print and mail in your return.
This article will give you instruction on how to print and mail your return.
April 15, 2025
11:51 AM
Total amount in document is 3982.59 and after federal taxes paid are deducted, the new revised amount is 3449.33.
Topics:
April 15, 2025
11:51 AM
It depends. If you are the beneficiary of your mother's portion of the estate (formerly your grandmother's) and this is the reason you received your share of the proceeds of the sale, you should in...
See more...
It depends. If you are the beneficiary of your mother's portion of the estate (formerly your grandmother's) and this is the reason you received your share of the proceeds of the sale, you should include the sale on your individual tax return. See the instructions below and the information about your cost basis.
Do I need to file a state return? (click on Oklahoma)
There would have been a stepped up basis on the home when it was sold so the fact you received $25,000 doesn't provide your with the inherited value on the date of death which would be your cost basis (your beneficiary share of the cost).
Your cost basis is the fair market value on the date of death of the decedent, plus the capital improvements (not repairs but improvements that are capital in nature). The expenses of sale will reduce any gain or increase any loss as well. This is entered as the sale of investment property and can be entered as follows.
Enter the inherited property sale in TurboTax using the steps provided.
Open or continue your return: Choose the Search box and type 'sale of second home' then use the Jump to link to enter your inherited sale) or follow the menu. In TurboTax Online select 'See more' in the FAQ then click 'sold second home'.
Under Wages & Income scroll to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)
Answer Yes on the Did you sell any stocks, mutual funds, bonds, or other investments in 2024? screen
If you land on the Your investment sales summary screen, select Add More Sales
On the OK, let's start with one investment type screen, select Other, then Continue
On the Tell us more about this sale screen, enter the name of the person or institution that brokered the sale
On the next screen, select Other (choose this also for inherited homes) then select I inherited it under How did you receive this investment? (For TurboTax Desktop you can enter a description of 'Inherited Home' and long term holding period).
Estate Return:
It seems there is no reason to file an estate return since there is really no money in the estate based on your comments. As far as Oklahoma is concerned you can click the link below. Most often a nonresident state return is required if you sell property that is situated there. Again, this assumes you must file your individual return since you got your share of the money and it's unclear if an estate return was filed and tax paid already.