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I understand the credit.  What I am looking for is how much can be deducted both on Federal Tax and Virginia? My donation in 2024 was $500.  The VA credit will be $325.  Is the Federal Deduction $500... See more...
I understand the credit.  What I am looking for is how much can be deducted both on Federal Tax and Virginia? My donation in 2024 was $500.  The VA credit will be $325.  Is the Federal Deduction $500? Is there a VA deduction of $175?  
received a new k-1 as a beneficiary
I believe that it must come from various T3 and T5 slips but am not sure.
Dear User eeeeas69,   I completely agree with you.  ItsDeductible is one if the main reasons for our using TurboTax.  I’ve been a user for several decades.   If it’s deleted, I, too will switch.  Y... See more...
Dear User eeeeas69,   I completely agree with you.  ItsDeductible is one if the main reasons for our using TurboTax.  I’ve been a user for several decades.   If it’s deleted, I, too will switch.  You mentioned “competitors' integrated applications that allow tracking of charitable donations.”   Could you share some of them with us as we start looking for alternatives to TT.   Thank you.  
if not a passive activity - as previously stated, you cannot defer using 179 c/o or current year addition if you have basis to deduct it.  you need to complete form 7203 s-corp basis, form 6198 -at r... See more...
if not a passive activity - as previously stated, you cannot defer using 179 c/o or current year addition if you have basis to deduct it.  you need to complete form 7203 s-corp basis, form 6198 -at risk and Turbotax at-risk limitation and allocation worksheet       here's are example basis boy 38 current year loss -40 179 c/o -2 ordinary loss allowed 40/42*38 =36.19 179 allowed 2/42*38=1.81  
LLC with 1 federal and 2 state K1's
Are you  using the Online version?  If you did someone else's return in your account then it overwrote your return and yours is gone.  Does each person have a separate online account and username and... See more...
Are you  using the Online version?  If you did someone else's return in your account then it overwrote your return and yours is gone.  Does each person have a separate online account and username and password?   How to view all your accounts https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/many-intuit-accounts-turbotax/L9aVfKS1Z_US_en_US?uid=ll5g6zcx It's common to end up with multiple accounts. First LOG OUT of whatever TurboTax account you're logged into right now. Then use this TurboTax account recovery website to get a list of user ID's for an email address. Run the tool against any email addresses you may have used https://myturbotax.intuit.com/account-recovery/ If you used the Desktop CD/Download program then the only copy is on your computer and not saved or stored online. You can also request a transcript from the IRS https://www.irs.gov/individuals/get-transcript      
I can sign in to Intuit buy can't pull up my return.
Due to 2024 TurboTax issues,  ( possibly repaired by now ), to avoid wrongful penalty, for each 1099-R, tell TurboTax that the calculated required amount is -0-.   Report distribution(s) in any ye... See more...
Due to 2024 TurboTax issues,  ( possibly repaired by now ), to avoid wrongful penalty, for each 1099-R, tell TurboTax that the calculated required amount is -0-.   Report distribution(s) in any year on the tax return for that year.   If TurboTax tells you otherwise   or implies otherwise because your first 2024 RMD is due by April 1 2025, that's just wrong.   @EC2of5 
Given the changes in your tax situation, it would be best to estimate your income and tax withholding now and not wait until you file your tax return.   It is recommended that you estimate your inc... See more...
Given the changes in your tax situation, it would be best to estimate your income and tax withholding now and not wait until you file your tax return.   It is recommended that you estimate your income and tax withholding throughout the year to avoid a tax due balance.  The tax needs to be paid as the income is earned, rather than at the end of the year or when the tax return is filed.     If the estimates indicate there will be a tax due balance, you can adjust your Form W-4 or make estimated tax payments.   If you choose to adjust your Form W-4 with your employer, you can have an additional amount of tax withheld per pay period.  To calculate the additional tax withholding, divide the amount of the estimated tax due balance by the number of pay periods.  The additional tax withholding is entered on Step 4(c) of the Form W-4.     For example, if you estimate your tax due balance will be $3000 and there are 6 remaining pay periods in the current year, the additional amount per pay period would be $500.   Please note:  This additional amount will continue to be withheld from your future paychecks until you adjust your Form W-4 to stop the additional withholding.   If you choose to make estimated tax payments, you can make those payments online at IRS.gov.  Quarterly estimated tax payments are due:   April 15 for income earned January 1 to March 31 June 15 for income earned April 1 to May 31 September 15 for income earned June 1 to August 31 January 15 of the following year for income earned September 1 to December 31 A few resources: TurboTax and the IRS have withholding calculators available to assist with estimating income and tax withholding.    Estimated Taxes: How to Determine What to Pay and When   @user17581273726 
Box 16 is blank, but your form shows that state tax was withheld in Box 14, your tax software may prompt you to fill it in. In most cases, you should use one of the following amounts:  Use the ... See more...
Box 16 is blank, but your form shows that state tax was withheld in Box 14, your tax software may prompt you to fill it in. In most cases, you should use one of the following amounts:  Use the taxable amount: If Box 16 is blank, you can often enter the amount from Box 2a. This is the most common approach. Use the gross distribution amount: If Box 2a is also blank, and you did not make any after-tax contributions to the account, you may use the amount from Box 1.
If the estate has an EIN and sold the property, then you will have to file a 1041 for the estate and will likely need the services of a tax pro (the estate also might be required to file a return for... See more...
If the estate has an EIN and sold the property, then you will have to file a 1041 for the estate and will likely need the services of a tax pro (the estate also might be required to file a return for the State of Minnesota).   The estate can deduct all of the probate expenses, legal and accounting fees on its federal income tax return.   Sorry for your loss.
From the IRS standpoint, there's no difference between payroll tax withholding and withholding from an IRA withdrawal, or withholding from bank savings accounts, or withholding from social security c... See more...
From the IRS standpoint, there's no difference between payroll tax withholding and withholding from an IRA withdrawal, or withholding from bank savings accounts, or withholding from social security checks.  All withholdings are generally considered being withheld evenly throughout the year.   So at this juncture, with April 15th behind us, the best way to make up for tax payment shortfall is via withholding.
The words are tricky here for sure. I have been withdrawing money from an IRA account and the bank allows you to “withhold” taxes.  So I did not mean a payroll withholding.  I have chosen to use your... See more...
The words are tricky here for sure. I have been withdrawing money from an IRA account and the bank allows you to “withhold” taxes.  So I did not mean a payroll withholding.  I have chosen to use your second suggestion of loading those amounts in payment 3.  I think turbo tax should create another entry line for payments  after 9/15 but made before 1/15.  You answered my question. 
  You have to access your own account and/or  print it for yourself using exactly the same account and user ID that you used when you prepared the return.    https://myturbotax.intuit.com/   ... See more...
  You have to access your own account and/or  print it for yourself using exactly the same account and user ID that you used when you prepared the return.    https://myturbotax.intuit.com/   Start a 2024 return online and enter some personal information  so that the menu on the left opens up and lets you access your past year returns.   https://ttlc.intuit.com/community/prior-year-return/help/how-do-i-access-my-prior-year-return/01/27010     https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US?uid=m5y4ch1y   Many people have multiple TT accounts and forget how to access them.  Log out of the account you are in now.     https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/many-intuit-accounts-turbotax/L9aVfKS1Z_US_en_US?uid=ll5g6zcx Account Recovery     Or did you use the desktop version of TurboTax?  If so, the files are on your own hard drive or any backup device you used like a flash drive.     https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/find-last-year-tax-data-file-tax-file-computer/L0XJvPaJr_US_en_US?uid=m6gufxei     https://ttlc.intuit.com/turbotax-support/en-us/help-article/data-systems/find-tax-data-file-mac/L4VNGm33S_US_en_US?uid=m6guhab0 You can get a free transcript from the IRS or for a fee of $30, an actual copy of your tax return. https://www.irs.gov/individuals/get-transcript https://www.irs.gov/pub/irs-pdf/f4506.pdf       SAVE YOUR TAX RETURNS ! EVERY year before mid-October you should save a copy of your tax return as a pdf and print a copy of it for your records.  That way you will not be searching online frantically when you need it for a lender, FAFSA forms, your next tax return, etc.    https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US?uid=m6guj526   https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US?uid=m78eb8pc In order to transfer a past year return to the new return you need the tax file   https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-turbotax-online-return-tax-data-file/L4xwOG3LF_US_en_US?uid=m6guk3xl   NOTE:  TurboTax and the IRS save returns for seven years.  Returns older than seven years are purged.    
Would like to see documents 1040x please
@user17592014175 wrote:   Also, the home was bought in 2011 (not 2021). We lived in it till 2021 and then converted to rental.   Ah, I seem to have missed 10 years.  LOL.  Sorry for my misrea... See more...
@user17592014175 wrote:   Also, the home was bought in 2011 (not 2021). We lived in it till 2021 and then converted to rental.   Ah, I seem to have missed 10 years.  LOL.  Sorry for my misreading.
@Mamaze wrote: but I can't claim any child tax credit if they don't have SSN (they can't claim it with ITIN).      That isn't true in most cases.  Assuming they are your "Qualifying Childre... See more...
@Mamaze wrote: but I can't claim any child tax credit if they don't have SSN (they can't claim it with ITIN).      That isn't true in most cases.  Assuming they are your "Qualifying Children" (most young children are, assuming they live with you), the lack of a SSN means you can't claim the full $2000 "Child Tax Credit", but they still qualify for the $500 "Other Dependent Credit" (although that is non-refundable).   Being eligible for the Other Dependent Credit would qualify them for an ITIN.
@Philleann wondering if you were able to figure this out? Can I e-file my tax return and then separately mail form 7217 and if so what is the correct process for that?   Thanks