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April 22, 2025
2:42 PM
The Premium Bundle Primary includes:
Audit Defence - A tax expert prepares a full response to your review letter and communicates with the CRA on your behalf.
ID Protection - In the event of ...
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The Premium Bundle Primary includes:
Audit Defence - A tax expert prepares a full response to your review letter and communicates with the CRA on your behalf.
ID Protection - In the event of ID fraud, a specialist helps recover your identity.
Priority Customer Care - Jump the line to connect when you need help with your tax return.
April 22, 2025
2:38 PM
Ok, so you do not need to amend but you do not need to enter the 1099-S on your return since the corrected one shows $0.
April 22, 2025
2:37 PM
You may need to transfer the file to the old machine.
April 22, 2025
2:34 PM
1 Cheer
Allocated based on your residency when you made the contribution. From what you said, it sounds like 100% DE.
April 22, 2025
2:34 PM
Bonjour, Je complète l'impôt au père de mes petits enfants. Ma fille et lui se sont séparés en bon terme à la fin de l'année 2023. Ils ont 2 enfants d'âge mineure scolaire. Chacun est admissible au...
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Bonjour, Je complète l'impôt au père de mes petits enfants. Ma fille et lui se sont séparés en bon terme à la fin de l'année 2023. Ils ont 2 enfants d'âge mineure scolaire. Chacun est admissible au crédit d'équivalent de conjoint. Le problème c'est que l'aide gouvernementale aux familles du provincial et l'allocation canadienne pour enfants est demandé seulement par ma fille mais dans l'impôt du père, il y a des versements indiqués également. Comment corriger dans l'impôt du père ? Merci de me venir en aide
April 22, 2025
2:31 PM
Probably wasn't signed in when I submitted. Only signed in when needed to download to another machine. Using downloaded version, NOT online Ttax. Tried signing in but that didn't seem to change an...
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Probably wasn't signed in when I submitted. Only signed in when needed to download to another machine. Using downloaded version, NOT online Ttax. Tried signing in but that didn't seem to change anything.
April 22, 2025
2:28 PM
1 Cheer
If there is no business, you cannot report it on the Schedule C. Since you cashed the checks this would be your income reported by you on your personal return. You cannot claim a deduction for th...
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If there is no business, you cannot report it on the Schedule C. Since you cashed the checks this would be your income reported by you on your personal return. You cannot claim a deduction for the payment to the ERC Specialist company. The ERC is not taxable income so you will not enter that on your return. You will just enter the interest received on the 1099-INT.
April 22, 2025
2:28 PM
You can put in an estimate for now and then enter the correct amount before you file.
April 22, 2025
2:28 PM
Hi everyone! I moved to Delaware last year in June. I contributed 5k to my Traditional IRA in Dec, and 5k is all deductible. When filing the Delaware tax, how do I allocate the Delaware Amount? Shoul...
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Hi everyone! I moved to Delaware last year in June. I contributed 5k to my Traditional IRA in Dec, and 5k is all deductible. When filing the Delaware tax, how do I allocate the Delaware Amount? Should I allocate half based on my DE residency period, or 5k as I contributed in Dec while I was a DE resident.
April 22, 2025
2:27 PM
I filed a Form 941 and later realized the form had incorrect information. So I filed an amendment on Form 941-X. The problem I have is that the Form 941-X also has incorrect information on it. ...
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I filed a Form 941 and later realized the form had incorrect information. So I filed an amendment on Form 941-X. The problem I have is that the Form 941-X also has incorrect information on it. When I file the 2nd Form 941-X, do I list the values in the 1st 941-X in column 2, or do I list the values in the original Form 941 in column 2? If I do not have a copy of the 1st Form 941-X, is there any way to get a copy of it?
April 22, 2025
2:25 PM
1 Cheer
Also After you get the program installed or reinstalled the first thing to do before you open your tax return is to update the program and install any state programs you had. Then open your file. So ...
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Also After you get the program installed or reinstalled the first thing to do before you open your tax return is to update the program and install any state programs you had. Then open your file. So you first might need to start a fake return to be able to download the state program (go to File-New Tax Return). Then go to FILE -Open and find your return.
April 22, 2025
2:25 PM
Un message privé vous sera envoyé. Pour y accéder, veuillez vous connecter sur votre compte dans la communauté TurboImpôt et cliquer sur l'icône de l'enveloppe en haut à droite.
Merci de chois...
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Un message privé vous sera envoyé. Pour y accéder, veuillez vous connecter sur votre compte dans la communauté TurboImpôt et cliquer sur l'icône de l'enveloppe en haut à droite.
Merci de choisir TurboImpôt.
April 22, 2025
2:25 PM
If you enter an amount on Box 85 on the T4, this will automatically be entered in the medical expense section for you.
April 22, 2025
2:24 PM
1 Cheer
@stephenchodgins Some information can be imported from year to year, even if they are at zero, like HBP balance, or CCA in some other situations.
For these specifics elements, in a future year...
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@stephenchodgins Some information can be imported from year to year, even if they are at zero, like HBP balance, or CCA in some other situations.
For these specifics elements, in a future year, it is appropriate to avoid the import date from a previous year, and start fresh.
Because it's only a warning, you can still ignore, as my colleague explained previously.
Thank you for choosing TurboTax.
April 22, 2025
2:23 PM
1 Cheer
Deluxe will do everything that Home & Business will do, so that will work. But try Support again first as you may be able to bypass Ebay entirely. @noc168
April 22, 2025
2:22 PM
1 Cheer
Yes! You can buy a lower version. All the Desktop programs have the same forms. You just get more help and guidance in the higher versions.
April 22, 2025
2:21 PM
I am self employed and am registered and am paying gst/hst quarterly.
April 22, 2025
2:20 PM
Non, le probleme n'est pas resolu. Je ne peux envoyer le rapport d'impot par impotnet parce que j'ai forcé un montant à la ligne 31 de l'annexe U avec F2 et les autres clients de turboimpot qui utili...
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Non, le probleme n'est pas resolu. Je ne peux envoyer le rapport d'impot par impotnet parce que j'ai forcé un montant à la ligne 31 de l'annexe U avec F2 et les autres clients de turboimpot qui utiliseront l'annexe U comme moi auront le même probleme. Je veux que vous corrigiez l'annexe U et envoyé une mise-à-jour de Turboimpot.
April 22, 2025
2:19 PM
cool thanks!
April 22, 2025
2:17 PM
Dear TurboTax, I over-contributed $7000 to ROTH IRA in 2024 because my income went up. I want to recharacterize that $7000 and I filed extension to get this done now. Brokerage A does not provide ear...
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Dear TurboTax, I over-contributed $7000 to ROTH IRA in 2024 because my income went up. I want to recharacterize that $7000 and I filed extension to get this done now. Brokerage A does not provide earn/loss calculation so I would really appreciate if you can point out my mistakes: Here's my situation: Timeline January 2024: I contributed $7,000 to my Brokerage B's Roth IRA June 2024: I opened brokerage A Roth IRA and transferred $22,048 from Brokerage B's ROTH IRA (which included my $7,000 contribution) July 2024: The closing balance was $21,928 in brokerage A Roth IRA December 2024: The closing balance was $22,724.47 in brokerage A Roth IRA January 2025: I contributed an additional $7,000 for tax year 2025 (not 2024), bringing the balance to $30,673 inbrokerage A Roth IRA March 2025: The closing balance was $28,059 in brokerage A Roth IRA April 22, 2025 (today): The current balance is $26,604 in brokerage A Roth IRA All funds in my brokerage A Roth IRA have been invested in stocks and ETFs throughout this period. I do not wish to recharacterize that ROTH IRA contribution of $7000 that I made in Jan 2025. Questions: If I were to recharacterize the original $7,000 contribution from my Brokerage A's Roth IRA, is the following the right way to calculate my earnings or loss and Net Income Attributable (NIA)? Step 1: Calculate the proportion of the 2024 contribution relative to the total transfer Proportion of 2024 contribution = 2024 Contribution / Total Transferred = $7,000 / $22,048 = 0.3175 or 31.75% This means that 31.75% of the total transferred amount was your 2024 contribution. Step 2: Calculate the value of the 2024 contribution as of December 2024 Since all funds are commingled in investments, we use the proportional method to determine how much of the December 2024 balance represents the original $7,000 contribution. Value of 2024 contribution as of Dec 2024 = Closing Dec 2024 × Proportion = $22,724.47 × 0.3175 = $7,214.77 Step 3: Calculate the earnings/loss on the 2024 contribution as of December 2024 Earnings/Loss as of Dec 2024 = Dec 2024 Value - Original Contribution = $7,214.77 - $7,000 = $214.77 This represents a gain of $214.77 by December 2024. Step 4: Calculate performance ratio after January 2025 contribution We need to determine how the account performed after the January 2025 contribution to apply this performance to the 2024 contribution's December value. Performance Ratio = Current Value / (Dec 2024 Value + Jan 2025 Contribution) = $26,098 / ($22,724.47 + $7,000) = $26,098 / $29,724.47 = 0.8780 This means the account value declined to about 87.80% of what it would have been if there had been no change in value after the new contribution. Step 5: Apply this performance ratio to the December 2024 value of the 2024 contribution Current Value of 2024 Contribution = Dec 2024 Value of Contribution × Performance Ratio = $7,214.77 × 0.8780 = $6,334.55 Step 6: Calculate the final earnings/loss for the 2024 contribution Total Earnings/Loss = Current Value of 2024 Contribution - Original Contribution = $6,334.55 - $7,000 = -$665.45 Step 7: Calculate percentage return Percentage Return = (Total Earnings/Loss / Original Contribution) × 100% = (-$665.45 / $7,000) × 100% = -9.51% If these are correct, then my 2024 contribution of $7,000 has experienced a loss of $665.45, which represents a -9.51% return. When recharacterizing the 2024 contribution, I should report this number indicating that the current value of that contribution is $6,334.55? Thank you so very much for your help! I do intent to backdoor this amount back to Roth IRA too.
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