- Community
- Topics
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Community
- :
- All Posts
All Posts
May 30, 2025
4:40 AM
Can someone please call me?
Topics:
May 30, 2025
4:33 AM
@erik 7 expense reimbursements should not be part of reported wages on a W-2, so there should be nothing to reduce.
May 30, 2025
3:45 AM
I filled on Abril 6th
May 30, 2025
3:30 AM
I got married in October 2024 to a single mother who has a biological child. For the 2024 tax year we filed jointly with me as the primary taxpayer. My spouse did not have any income in 2024. We clai...
See more...
I got married in October 2024 to a single mother who has a biological child. For the 2024 tax year we filed jointly with me as the primary taxpayer. My spouse did not have any income in 2024. We claimed the child as a dependent but I did not claim the Earned Income Credit (EIC) because I believed the child did not live with me for more than half the year. The child has lived with his biological mother who's now my wife his entire life. I recently received IRS notice CP09 which states "You may qualify for a refund of up to $7,830.00. Your 2024 tax return shows that you have kids and might qualify for extra cash through the Earned Income Credit (EIC) but you did not claim the EIC on your return.” The notice instructs me to complete and submit Form 15111. I am seeking expert advice on the following: -Based on the information provided do we actually qualify for the Earned Income Credit under these circumstances -Is it appropriate and advisable to submit Form 15111 as requested by the IRS -Are there any potential risks or important considerations I should be aware of before responding to this notice Thank you for your guidance
May 30, 2025
3:23 AM
I got married in October 2024 to a single mother who has a biological child. For the 2024 tax year we filed jointly with me as the primary taxpayer. My spouse did not have any income in 2024. We clai...
See more...
I got married in October 2024 to a single mother who has a biological child. For the 2024 tax year we filed jointly with me as the primary taxpayer. My spouse did not have any income in 2024. We claimed the child as a dependent but I did not claim the Earned Income Credit (EIC) because I believed the child did not live with me for more than half the year. The child has lived with his biological mother who's now my wife his entire life. I recently received IRS notice CP09 which states "You may qualify for a refund of up to $7,830.00. Your 2024 tax return shows that you have kids and might qualify for extra cash through the Earned Income Credit (EIC) but you did not claim the EIC on your return.” The notice instructs me to complete and submit Form 15111. I am seeking expert advice on the following: -Based on the information provided do we actually qualify for the Earned Income Credit under these circumstances -Is it appropriate and advisable to submit Form 15111 as requested by the IRS -Are there any potential risks or important considerations I should be aware of before responding to this notice Thank you for your guidance
May 30, 2025
3:16 AM
Topics:
May 30, 2025
2:23 AM
@dmertz Okay so just to be sure I understand, invoking section 301.9100-2 would only be done if someone removed 2024 excess contributions after April 15th and before October 15th? Sorry to b...
See more...
@dmertz Okay so just to be sure I understand, invoking section 301.9100-2 would only be done if someone removed 2024 excess contributions after April 15th and before October 15th? Sorry to be so needy. This is quite a complex puzzle. Again grateful for your input!
May 30, 2025
2:10 AM
this is from IRS instructions for K-1
Item L The partnership must report your beginning capital account and ending capital account for the year using the tax-basis method, including the amount of ...
See more...
this is from IRS instructions for K-1
Item L The partnership must report your beginning capital account and ending capital account for the year using the tax-basis method, including the amount of capital you contributed to the partnership during the year, your share of the partnership's current year net income or loss as computed for tax purposes, any withdrawals and distributions made to you by the partnership, and any other increases or decreases to your capital account determined in a manner generally consistent with figuring the partner's adjusted tax basis in its partnership interest (without regard to partnership liabilities), taking into account the rules and principles of sections 705, 722, 733, and 742. See the Instructions for Form 1065 for more details.
overrides will prevent e-filing. the tax consequences of not following the directions are unknown.
By the way tax basis has been the rule since at least 2021
May 30, 2025
1:54 AM
if the partnership didn't terminate, you have a passive loss. passive losses can only be deducted against passive income. one exception to this is for real estate activities in which you actively par...
See more...
if the partnership didn't terminate, you have a passive loss. passive losses can only be deducted against passive income. one exception to this is for real estate activities in which you actively participated, and your adjusted gross income is under $150,000. Then up to $25,000 in losses from real estate activities would be allowed (see form 8582). the other exception is if this was a final k-1 - the partnership terminated
Material participation and active participation are different.
FROM IRS PUB 925
Active participation depends on all the facts and circumstances. Factors that indicate active participation include making decisions involving the operation or management of the activity, performing services for the activity, and hiring and discharging employees. Factors that indicate a lack of active participation include lack of control in managing and operating the activity, having authority only to discharge the manager of the activity, and having a manager of the activity who is an independent contractor rather than an employee.
May 30, 2025
1:29 AM
Alaska, California, Colorado, Hawaii, Idaho, Kansas, Michigan, Montana, Nebraska, Nevada, North Dakota, Ohio, Oregon, South Dakota, Utah, Washington, Wyoming
recommended to use a tracking ser...
See more...
Alaska, California, Colorado, Hawaii, Idaho, Kansas, Michigan, Montana, Nebraska, Nevada, North Dakota, Ohio, Oregon, South Dakota, Utah, Washington, Wyoming
recommended to use a tracking service so you know that the IRS gets it. items do get lost in the mails and with mailing the IRS does not acknowledge receipt. it could sit in a mailbag for a month or more before it gets processed.
Department of the Treasury Internal Revenue Service Ogden, UT 84201-0002
May 30, 2025
12:24 AM
May 29, 2025
11:57 PM
i live in alaska and want to mail ( through the postal service ) my fereral tax return for 2024
Topics:
May 29, 2025
11:45 PM
should the income on the w2 be reduced by expenses i'm being reimbursed for
May 29, 2025
11:19 PM
I received my State refund to my bank account but have not received my Federal refund in 2025 for 2024. When I go to Where's My Refund is shows that the IRS received my tax form but it stops there a...
See more...
I received my State refund to my bank account but have not received my Federal refund in 2025 for 2024. When I go to Where's My Refund is shows that the IRS received my tax form but it stops there and never shows refund was approved or sent. So, after a little research, I see that I need to complete form 3911, which I have printed and completed, but I cannot find where to mail it if you're from Oklahoma. I read horror story comments of people saying that the IRS will often claim that they never received your form 3911. After I filed my taxes the IRS sent me a letter telling me I needed to verify my identity and provided a link to do so, which I did, and it was accepted through their website. There is a website for Where's my Refund to check its status and there is a website to verify your identity, so why is there no website to submit a form 3911? Most of the questions I read on here are old, outdated or incomplete (no information on Oklahoma and I'm pretty sure for a few other states). I gave them my routing and bank account info for my refund, so this is not a matter of a lost refund check. Again, my state refund came into that bank account, so I know the info I provided for that was correct. Please advise.
Topics:
May 29, 2025
10:36 PM
Any income under $600 annually does not have to be reported to the IRS. Even if a 1099 NEC was sent to the IRS for you, if it's under $600, you won't get in any trouble with Uncle Sam if you don't f...
See more...
Any income under $600 annually does not have to be reported to the IRS. Even if a 1099 NEC was sent to the IRS for you, if it's under $600, you won't get in any trouble with Uncle Sam if you don't file. Now if it's like $595, or pretty close to that $600 mark, I personally would go ahead and file. But, it's not legally required. I hope this helps answer your question.
May 29, 2025
10:32 PM
How do I document the value of inventory that I inherited on the Schedule C? I run a small business (a single member LLC) that resells used merchandise online and at flea markets/craft fairs/antique ...
See more...
How do I document the value of inventory that I inherited on the Schedule C? I run a small business (a single member LLC) that resells used merchandise online and at flea markets/craft fairs/antique malls. My grandparents and my mother in-law both passed away and since I sell “junk” my family gave me a very large amount of stuff to resell. I don’t know how to document the value of this acquired inventory. As of right now my schedule C looks like I generated $100k in revenue from a previously nonexistent inventory of products.
May 29, 2025
10:01 PM
May 29, 2025
9:52 PM
There is no voucher to mail with your check to pay your taxes. I believe you mailed a voucher that is used to make a payment towards your 2025 taxes. Call the IRS to resolve this.
May 29, 2025
9:52 PM
@KateZod
In TurboTax Online you can print or save a PDF of your tax return with all the worksheets by going to the Print Center and selecting the option to "Include government and TurboTax workshe...
See more...
@KateZod
In TurboTax Online you can print or save a PDF of your tax return with all the worksheets by going to the Print Center and selecting the option to "Include government and TurboTax worksheets."
