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Hello, As an expat living overseas, I can use the double taxation treaty between the US and a foreign Country. My mother had 30 year savings bonds and never paid interest while alive in the US, the... See more...
Hello, As an expat living overseas, I can use the double taxation treaty between the US and a foreign Country. My mother had 30 year savings bonds and never paid interest while alive in the US, the total amount  is taxed, about 75% is interest. The K1 forms are entered and the interest is taxed in the US as ordinary interest income. Germany taxes the total savings bonds capital + interest.   Proportionally to taxes paid, I will enter on 1116 form.   As far as currency exchange loss I found an post between  Olivert08 and DAVEF1006 that is good. Thanks for you answer.
If you are using online TurboTax you must use Premium in order to enter business expenses on a Schedule C.  Are you using Premium?
I have the following (per IRS site) Get a time-of-sale report The dealer should give you a paper copy of a time-of-sale report when you complete your purchase. Keep this copy for your records becaus... See more...
I have the following (per IRS site) Get a time-of-sale report The dealer should give you a paper copy of a time-of-sale report when you complete your purchase. Keep this copy for your records because it affirms that the dealer sent a report to the IRS on the purchase date. If you didn’t receive a copy of the report, follow our step-by-step guide. File Form 8936 with your tax return You must file Form 8936 when you file your tax return for the year in which you take delivery of the vehicle. This is true whether you transferred the credit at the time of sale or you’re waiting to claim the credit when you file.
Thanks for answering. Since Turbotax did not send a confirmation message like they always do normally: Your Returns Have Been Sent. I am not sure the transmission to Turbotax worked.   I read about... See more...
Thanks for answering. Since Turbotax did not send a confirmation message like they always do normally: Your Returns Have Been Sent. I am not sure the transmission to Turbotax worked.   I read about the Transmit Button not working and not receiving a CATPCHA Pop-Up. I think this could be the problem. I also used a VTP and had Pop-ups blocked and didn't clear the Cache and cookies in Firefox-so I am not sure and also I tried again to send and so I am not sure.  I got the error message about more than 5 files -2x,  so I stopped and will call Turbotax tomorrow. It is only a single tax return. Will post solution.  
Say only 15% of my income comes from self employed. Do I only use 15% of my total expenses for the year of auto, restaurants, home expenses etc. or do I put the total number spent in a year and it wil... See more...
Say only 15% of my income comes from self employed. Do I only use 15% of my total expenses for the year of auto, restaurants, home expenses etc. or do I put the total number spent in a year and it will only take the max I can claim?
What state? Every state has different forms and rules, and different software. And what is "it" that says to leave the county blank if you live abroad?  
If you want to make estimated pre payments for next year go to..... Federal Taxes or Personal (Home&Business version) Other Tax Situations Other Tax Forms Form W-4 and Estimated Taxes - Click the... See more...
If you want to make estimated pre payments for next year go to..... Federal Taxes or Personal (Home&Business version) Other Tax Situations Other Tax Forms Form W-4 and Estimated Taxes - Click the Start or Update button If you already filed 2024 be careful not to change anything in your real return.     Say No to W4. When you get to the W4 and Estimated Taxes section, say you want to adjust your income to go though all the screens.   Here are the blank Estimates and instructions….. https://www.irs.gov/pub/irs-pdf/f1040es.pdf Or you can pay on the IRS website. Be sure to pick 2025 1040ES payment https://www.irs.gov/payments  
Are you sure they didn't get  your tax return?  Maybe they just didn't get your tax due payment?  Did you have a tax due?  Or they changed something on your return.     When you efile you get back ... See more...
Are you sure they didn't get  your tax return?  Maybe they just didn't get your tax due payment?  Did you have a tax due?  Or they changed something on your return.     When you efile you get back 2 emails. The first email only confirms the transmission. The second email says if the IRS (or state) Accepted or Rejected your efile.   Can you look back though your emails?   When you log into your account you should also see the status and if it was Accepted or Rejected, Started, Printed, Ready to Mail, etc. What does it say?   Check the printout or PDF of your return; look for the state cover sheet with the Turbo Tax logo. If you owed tax, it will show the payment information and how/when you decided to pay. Read the state payment instructions carefully since most states cannot be paid from within the TT system and requires additional steps.
@diitto wrote: Where would I even look (I'm long since done with 2024's taxes but I do still have the TurboTax Deluxe 2024 software on my Mac) to see how and where TT handles the RMD section on ... See more...
@diitto wrote: Where would I even look (I'm long since done with 2024's taxes but I do still have the TurboTax Deluxe 2024 software on my Mac) to see how and where TT handles the RMD section on taxes??? @diitto  There were some changes related to RMDs for 2024. The way TurboTax handled it was kind of a mess, and caused a lot of errors. They know they had a problem, and they are redoing the handling of RMDs for 2025. So I would not rely on the 2024 software as any indication of how TurboTax will handle RMDs for 2025. Looking at the 2024 software might be confusing rather than helpful. Just wait until the 2025 software is available, probably sometime in November.  
I only found out a month ago when I received notice of balance due from my state which included fines and interest adding another $1000 on top of the tax amount. They offset my 2024 refund to apply to... See more...
I only found out a month ago when I received notice of balance due from my state which included fines and interest adding another $1000 on top of the tax amount. They offset my 2024 refund to apply to 2021.
You might have entered the sale in the wrong section of the program or answered a question incorrectly.   There should be a way to indicate in the program that the home was held for personal use.
Or did it transfer 2023 into 2024 when you started?  It would have automatically transferred the $361 but you might have entered it again either as a 1st quarter estimated payment or as Applied from ... See more...
Or did it transfer 2023 into 2024 when you started?  It would have automatically transferred the $361 but you might have entered it again either as a 1st quarter estimated payment or as Applied from last year.  So it could have been entered twice.     
What version did you buy?  There is only a license code for the Federal Desktop program.  In Deluxe and above you get 1 free state program download.   If you need to do a return for a different state... See more...
What version did you buy?  There is only a license code for the Federal Desktop program.  In Deluxe and above you get 1 free state program download.   If you need to do a return for a different state you need to buy the second  state program for $45.  If you buy Deluxe in the stores it comes 2 ways.  Deluxe with a state program and Deluxe without state for states that don't have a state income tax.  If you  have the Desktop Basic program it does not come with a free state.   Are you switching from the Online version to the Desktop program and have the .tax file to upload to Desktop?  Or where did you get the tax file to upload?  Sometimes it does ask you to buy the state program to start which is wrong.  How much is it charging you?  A state program is $45.  But as said above in the Desktop program there is a separate $25 fee to E-EFILE each state return including the first one.  Or you can print and mail state for free.   If you have a .tax file and are trying to open it into a newly installed Desktop program and get an error there is some steps you have to do first.   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). Enter some basic information, then go to the state tab and download the state program. Then try to open your existing return, go to FILE - OPEN   Oh and be careful at the end when you file.  If you pick to have the $25 state efile fee deducted from a federal refund there is an EXTRA $40 (45 in Calif) Pay with Refund processing service charge.  So pay with a credit card to avoid the extra charge.    
Some more info.  IRA and 401K are separate and have different rules.  For IRA accounts you need to figure the RMD from each account but you can take the total RMD out from just 1 account or spread it... See more...
Some more info.  IRA and 401K are separate and have different rules.  For IRA accounts you need to figure the RMD from each account but you can take the total RMD out from just 1 account or spread it around from other IRA accounts.  And as said above you can only take a QCD from IRA accounts (not 401k).   For 401k accounts you need to take out the RMD from each 401k.  IRA accounts go on 1040 line 4 and 401k go on line 5.  Here is IRS pub 590b about taking distributions. https://www.irs.gov/pub/irs-pdf/p590b.pdf    You will get a 1099R  for each account IRA & 401k distributions.  They get entered in the same place.  The IRA accounts will have a X in a little box between boxes 7&8 to tell it that it is from an  IRA.    Here is a 1099R https://www.irs.gov/pub/irs-pdf/f1099r.pdf    Since you have the Desktop program you can copy your return to test and practice in.  Go up to File-Duplicate on Mac and give it another name.    Don't mess around in your real return.   Oh you can still buy Deluxe.  All the Desktop programs have all the same forms.  You just get more help in the higher versions.       Enter a 1099R under Federal Taxes Wages & Income Then scroll way down to Retirement Plans and Social Security Then IRA, 401(k), Pension Plan Withdrawals (1099-R) – Click Start If you are adding another 1099R there might be a Add button at the bottom of the list.        
See if this helps. Post again if you have any questions.  https://turbotax.intuit.com/tax-tips/rental-property/10-tax-tips-for-airbnb-homeaway-vrbo-vacation-rentals/amp/L8CEWgLSP