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June 28, 2025
10:01 AM
I'm still confused about whether TurboTax is working correctly. While it is apparently true (if I'm understanding your situation accurately) that in many cases the limitation on the MN Standard Dedu...
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I'm still confused about whether TurboTax is working correctly. While it is apparently true (if I'm understanding your situation accurately) that in many cases the limitation on the MN Standard Deduction is lower than the Itemized Deductions, that doesn't seem to me to be end of the story. Isn't it true that you still want to take the Minnesota Standard Deduction because although it will be slightly lower than your Itemized Deduction, you can then take 50% of your charitable deductions on your MN return and, thus, your overall taxable income for MN will be lower? Am I misunderstanding the situation? Which I believe is my situation.
June 28, 2025
9:58 AM
What do you report to the IRS if the care giver spends 2 hours on covered health care, 1 hour on non-covered duties, and 5 hours on standby (watching TV, phone, etc.)?
June 28, 2025
9:55 AM
1 Cheer
@AmeliesUncle wrote: Sorry, this STUPID forum isn't allowing the link I provided. The Moderators REALLY need to fix that for those of us that post regularly. I'm going to try and post the sa...
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@AmeliesUncle wrote: Sorry, this STUPID forum isn't allowing the link I provided. The Moderators REALLY need to fix that for those of us that post regularly. I'm going to try and post the same link (see what happens). Tangible property final regulations | Internal Revenue Service
June 28, 2025
9:55 AM
1 Cheer
@AmeliesUncle Which one did you want? This one? https://www.irs.gov/businesses/small-businesses-self-employed/tangible-property-final-regulations
June 28, 2025
9:51 AM
I'm late filing (but getting a refund so not concerned) with my federal and state (Minnesota) tax returns with TurboTax Premium. I itemize on my federal return (despite the SALT cap) due to high a l...
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I'm late filing (but getting a refund so not concerned) with my federal and state (Minnesota) tax returns with TurboTax Premium. I itemize on my federal return (despite the SALT cap) due to high a level of charitable deductions. For the same reason, I believe it will be favorable for me to take the Standard Deduction in Minnesota (although it will be somewhat reduced by the Standard Deduction Limitation imposed by MN) and then take additional (partial) deductions for charitable deductions via filing M1M. This is what I've done in prior years via TurboTax. However, when I file through TurboTax (Premium) and elect (which it even recommends) taking the Standard Deduction, the actual tax return generated by TurboTax for MN is the itemized MN return (with M1SA) rather than showing the Standard Deduction and M1M. I'm not sure why this is happening. I even deleted the entire MN state return and started again but it is producing the same effect. I don't have the "live tax advice" feature of TurboTax because I haven't paid for it (and would prefer not to) since I view this merely as a technical problem. Does anyone have any advice on how I can "force" TurboTax to actually take the "Standard Deduction" on my MN return? If not, any advice on how I might get TurboTax to address this issue.?
June 28, 2025
9:46 AM
2 Cheers
I think this is not a good for Turbo Tax they will lose customers. I will not use turbotax for 2025. There are competitors software that will work with Windows 10 like H&R Block.
June 28, 2025
9:44 AM
What Desktop program are you using first 2024? Online is for personal returns. You can transfer 2023 into 2024 personal Desktop program but not into Turbo Tax Business. For a Business return you ...
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What Desktop program are you using first 2024? Online is for personal returns. You can transfer 2023 into 2024 personal Desktop program but not into Turbo Tax Business. For a Business return you need to manually add the Assets as new. How to transfer into Windows Desktop https://ttlc.intuit.com/community/entering-importing/help/transfer-last-year-s-return-to-turbotax-for-windows/00/26145 If you used the Online version last year you can Transfer it into the Desktop installed personal program. Starting in 2023 there are new buttons when you start a new Desktop return. You can Import from Online or Continue from Online depending if you are signed in or not. So look for those.
June 28, 2025
9:34 AM
1 Cheer
Sorry, this STUPID forum isn't allowing the link I provided. The Moderators REALLY need to fix that for those of us that post regularly.
June 28, 2025
9:33 AM
1 Cheer
Is this for a business?
If so, items over $200 are generally depreciated as "assets". But there are several elections that if you qualify for that election and actually make that election, you...
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Is this for a business?
If so, items over $200 are generally depreciated as "assets". But there are several elections that if you qualify for that election and actually make that election, you might be able to deduct it as a "supply". See the IRS link below for information about some of those elections.
Items $200 or less, or items that qualify for an election and you actually make the election, you would enter it as a "supply".
https://www.irs.gov/businesses/small-businesses-self-employed/tangible-property-final-regulations
June 28, 2025
9:30 AM
Need to change my banking informatio
June 28, 2025
9:29 AM
Can I transfer Depreciation schedules from online 2023 to Desktop 2024?
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June 28, 2025
9:26 AM
1 Cheer
Whose money was deposited into the CD, and who will be receiving the money after the CD is withdrawn? The answer to that is the same answer to who reports the interest.
June 28, 2025
9:18 AM
TurboTax indicates I should enter two separate K-1 entries to split the business vs. rental income. I did that initially and included all values on both, but reviewing my draft return, on Form 8995, i...
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TurboTax indicates I should enter two separate K-1 entries to split the business vs. rental income. I did that initially and included all values on both, but reviewing my draft return, on Form 8995, it seems to be showing the same qualified business income(loss) on both lines. This leads me to believe that perhaps I shouldn't enter duplicate info in both entries??
June 28, 2025
9:00 AM
I don’t understand your question. What are you trying to do? Are you asking about 2025 returns we file next year in 2026? Online is currently only for 2024 until Oct 15,2025 then it will close....
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I don’t understand your question. What are you trying to do? Are you asking about 2025 returns we file next year in 2026? Online is currently only for 2024 until Oct 15,2025 then it will close. Then in November or early December Online will open for 2025. Do you want to estimate 2025 taxes? The Desktop download program is only good for one year. You have to buy a new separate program for each year. Turbo Tax only supports and sells the last 3 years, so back to 2021.
June 28, 2025
8:44 AM
wow
June 28, 2025
8:37 AM
The 2024 tax return that I filed for my son was reassessed and sent back to him because Turbo Tax had missed the CPP payable on his self-employment income. I updated Turbo Tax yesterday (2025-06-27)...
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The 2024 tax return that I filed for my son was reassessed and sent back to him because Turbo Tax had missed the CPP payable on his self-employment income. I updated Turbo Tax yesterday (2025-06-27) and I was pleased to see an update for Schedule 8. Schedule 8 is where the CPP is calculated on self-employment income. Sadly, this update did not resolve the issue of CPP not being calculated on self-employment income. The problem is that the self-employment income being reported in line 29 of the T1 General Return is not being populated into Schedule 8 / Part 5 / Line 1. The work around is to use the F2 key to override Schedule 8 / Part 5 / Line 1 and then manually enter the amount from line 29 of the T1 General Return into Schedule 8 / Part 5 / Line1. Once I over-rode this field as described above, Turbo Tax calculated an amount owing that was close to what the CRA had calculated (there was a difference of about a $1). BTW, I am using Turbo Tax 2024 Standard Hope this helps.
June 28, 2025
8:34 AM
The program for each year is specific to that year only.
June 28, 2025
8:22 AM
Hi, Something went sideways with an TT Desktop 2023 update for MacOS Sequoia 15.5 today 2025-06-28. Sadly, I was in the middle of amending my 2023 return when this happened -- the app was alr...
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Hi, Something went sideways with an TT Desktop 2023 update for MacOS Sequoia 15.5 today 2025-06-28. Sadly, I was in the middle of amending my 2023 return when this happened -- the app was already open from the last time I had time to work on my ammendmet. Now I'm stuck in a 'Install Update' -> 'Downloading Update' -> 'Install & Relaunch' -> 'Update Error An error occurred while relaunching TurboTax 2023, but the new version will be available next time you run TurboTax 2023.' -> 'Cancel Update' loop. When I 'Relaunch', the process starts over. Of course, it's the weekend and there is no support. Any ideas on workarounds? I can only work on this on the weekend... Thanks Chris
June 28, 2025
8:22 AM
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June 28, 2025
7:58 AM
@Mike9241 I was looking for K1 for KKR INfrastructure Conglomerate LLC which is a partnership. They still issue K1
