All Posts
November 26, 2025
8:03 AM
@jeeppadre89 what do you mean "pay the step up". When you inherited the property, your cost based was determined by the value of the land on the date of the decendent's death. Now that you...
See more...
@jeeppadre89 what do you mean "pay the step up". When you inherited the property, your cost based was determined by the value of the land on the date of the decendent's death. Now that you are the owner, if you sell off some of the land, your capital gains is the selling price less the value on the date of death of the decendent. The estate is no longer involved, so whatever you mean by "does the estate pay the step" is not relevant because the estate is not a participant in this transaction when you sell 10 acres to a third party.
November 26, 2025
7:59 AM
I thought registration fees are only tax deductible if the fee is based on the value of the auto; if it is a flat fee, it is not tax deductible. So the base fee and lisence plate fees are not tax de...
See more...
I thought registration fees are only tax deductible if the fee is based on the value of the auto; if it is a flat fee, it is not tax deductible. So the base fee and lisence plate fees are not tax deductible. But if part of the registration fee is based on the value of the auto, then it is deductible.
November 26, 2025
7:58 AM
If you are purchasing the acreage from the estate, the purchase price would be whatever can be agreed upon by both parties. The basis for the estate, however, in the transaction would be the FMV on t...
See more...
If you are purchasing the acreage from the estate, the purchase price would be whatever can be agreed upon by both parties. The basis for the estate, however, in the transaction would be the FMV on the date of death of the decedent. If you are selling property you inherited, your basis is the FMV on the date of death of the decedent. Subtract that basis from your selling price to arrive at gain or loss on the transaction.
November 26, 2025
7:57 AM
The basis of the property is stepped up to its FMV as of the date of death of the decedent.
November 26, 2025
7:56 AM
1 Cheer
@wkunihiro_Intuit I think you are missing the broader issue..... TT makes a lot more money on a Online User than a Desktop user. They have no incentive to encourage Desktop usage. Example: I do ...
See more...
@wkunihiro_Intuit I think you are missing the broader issue..... TT makes a lot more money on a Online User than a Desktop user. They have no incentive to encourage Desktop usage. Example: I do 4 family tax returns on one $70 Desktop liscense. The same 4 tax returns on Online would be $500-$600. Case in point: when launching Desktop this year, there is a marketing blurb encouraging migration to Online Though this lense, Intuit's decison makes 100% sense.
November 26, 2025
7:55 AM
See https://ttlc.intuit.com/community/tax-credits-deductions/discussion/contractor-bankruptcy-deduct-as-nonbusiness-bad-debt/00/3539276
November 26, 2025
7:55 AM
You did not ask about this ----but.....when it is time to file a tax return:
If you are a non-resident alien, your return must be filed on Form 1040NR, which cannot be prepared using TurboTax. ...
See more...
You did not ask about this ----but.....when it is time to file a tax return:
If you are a non-resident alien, your return must be filed on Form 1040NR, which cannot be prepared using TurboTax. You can use TT’s partner, sprintax:
https://www.sprintax.com/non-resident-alien-tax-1040nr-turbotax.html
IRS —HOW TO DETERMINE RESIDENCY STATUS FOR TAX
https://www.irs.gov/individuals/international-taxpayers/determining-an-individuals-tax-residency-status#:~:text=If you are not a,January 1 – December 31).
November 26, 2025
7:51 AM
@Hhgrant Seek local paid help with your 2018 state return or try going to the state's tax site to see if you can get the forms to prepare by hand. It is too late for you to use TurboTax for a 2018 ...
See more...
@Hhgrant Seek local paid help with your 2018 state return or try going to the state's tax site to see if you can get the forms to prepare by hand. It is too late for you to use TurboTax for a 2018 tax return of any sort. The software for 2018 is no longer available. You will need information from your 2018 federal return when you prepare the state return.
https://ttlc.intuit.com/turbotax-support/en-us/help-article/state-taxes/contact-state-department-revenue/L9qVToi02_US_en_US?uid=m6e06um0
November 26, 2025
7:43 AM
Will your daughter have enough other itemized deductions like mortgage interest or property tax, medical expenses and/or charity donations to enter on her federal tax return that exceed her standard ...
See more...
Will your daughter have enough other itemized deductions like mortgage interest or property tax, medical expenses and/or charity donations to enter on her federal tax return that exceed her standard deduction? Vehicle registration is an itemized deduction, which does not change your federal refund or federal tax due unless you have enough other itemized deductions to exceed your standard deduction. NV has no state income tax, so there is nothing to enter for NV.
Your itemized deductions have to be more than your standard deduction before you will see a change in your tax owed or tax refund. The deductions you enter do not necessarily count “dollar for dollar;” many of them are subject to meeting tough thresholds—medical expenses, for example, must meet a threshold that is pretty hard to reach. (Only the amount that is MORE than 7.5% of your AGI counts) The software program uses all the IRS rules that apply to the expenses you enter, and it tells you if you have enough to use your itemized deductions or if using the standard deduction is more advantageous for you.
The standard deduction makes some of your income “tax free.” It is not a refund. You will see your standard or itemized deduction amount on line 12 of your 2025 Form 1040.
2025 STANDARD DEDUCTION AMOUNTS
SINGLE $15,750 (65 or older/legally blind + $2000)
MARRIED FILING SEPARATELY $15,750 (65 or older/legally blind +1600)
MARRIED FILING JOINTLY $31,500 (65 or older/legally blind + $1600)
HEAD OF HOUSEHOLD $23,625 (65 or older/legally blind + $2000)
November 26, 2025
7:41 AM
Also see https://ttlc.intuit.com/turbotax-support/en-us/help-article/loans/whats-turbotax-flex-advance/L2Xg6I...
November 26, 2025
7:40 AM
https://turbotax.intuit.com/personal-loan
November 26, 2025
7:39 AM
I need to file 2018 State
November 26, 2025
7:22 AM
It is a horrible user interface (still in 2025) that does not instruct you to double click to enter the line items for property taxes paid!
November 26, 2025
7:22 AM
It is a horrible user interface (still in 2025) that does not instruct you to double click to enter the line items for property taxes paid! I spent half an hour with the telephone robot trying to get...
See more...
It is a horrible user interface (still in 2025) that does not instruct you to double click to enter the line items for property taxes paid! I spent half an hour with the telephone robot trying to get an answer.
November 26, 2025
7:14 AM
5 Cheers
I've been with TT since they were Parsons... I agree, this policy change makes zero sense and speaks zero of backward compatibility. Some the changes I've seen Intuit do to this tax software forced a...
See more...
I've been with TT since they were Parsons... I agree, this policy change makes zero sense and speaks zero of backward compatibility. Some the changes I've seen Intuit do to this tax software forced a migration to H&R Block and some of H&R Block's non-features forced a migration back to TT. but this latest with no backward compatibility is necessitating another move to H&R Block. Yes, sadly, this year i will be a blockhead
November 26, 2025
7:08 AM
In 2021 an EF4 tornado damaged my property and the city it was in was declared a federal disaster by Joe Biden. I paid a contractor to make repairs and the contractor abandoned the project after doin...
See more...
In 2021 an EF4 tornado damaged my property and the city it was in was declared a federal disaster by Joe Biden. I paid a contractor to make repairs and the contractor abandoned the project after doing partial work. I then had to take them to court and won a judgement for $10,000. The legal fees it cost me were close to the same amount and I believe this cannot be deducted. From there I had to hire a collection agency to make a recovery of the awarded judgement. The Discovery letter and Motion to Compel have not been replied to by the contractor. They are ignoring and not going to pay. Since the damage was in a federally declared disaster area, and since I have tried to recover the judgement amount and can not, I am planning to take this as a deduction in 2025 and wanted to know what the correct forms and steps are. Can anyone guide / advise me on this?
November 26, 2025
7:03 AM
Hello- can you tell me if my daughter purchased a 2023 Nissan Rogue, she and I are co-borrowers and have just seen where here in Nevada the DMV is charging us $400 for registration!!!is my daughter a...
See more...
Hello- can you tell me if my daughter purchased a 2023 Nissan Rogue, she and I are co-borrowers and have just seen where here in Nevada the DMV is charging us $400 for registration!!!is my daughter able to claim this on her income tax for 2025?
November 26, 2025
6:57 AM
Thanks for your comments. I am a little skeptical myself as to whether we will be able to import the data like we did with Its Deductible. I have a feeling we will be still during more manual input ...
See more...
Thanks for your comments. I am a little skeptical myself as to whether we will be able to import the data like we did with Its Deductible. I have a feeling we will be still during more manual input than we would like. If nothing else however the app does allow us to keep tract of a lot of contributions during the year. I still wonder why Intuit pulled the plug on Its Deductible. I would suspect it was a widely used feature. ( or maybe not).
November 26, 2025
6:25 AM
Did anyone else from NYS have an error on their 2024 tax return regarding penison entry and charged interest for failure to pay the correct amount to the state. Did you get a refund from Turbo Tax si...
See more...
Did anyone else from NYS have an error on their 2024 tax return regarding penison entry and charged interest for failure to pay the correct amount to the state. Did you get a refund from Turbo Tax since it was their error?
Topics: