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a few days ago, I received another notification from Intuit that W11 will be needed for 2025 desktop users.  what other desktop vendors will do for 2025 and in the future is unknown. 
Thanks for the clarification! In that case, since my total sales were $7,400 and I did not make a profit overall, is it correct to enter the cost basis equal to the sales price so that the taxable g... See more...
Thanks for the clarification! In that case, since my total sales were $7,400 and I did not make a profit overall, is it correct to enter the cost basis equal to the sales price so that the taxable gain is $0 and I am not claiming any loss? Just want to confirm that this treatment for personal-use items is correct and doesn’t raise any concerns. Really appreciate your help
as to real estate taxes, escrow deposits and payments are not deductible. you get the deduction when money is taken out of escrow to actually pay the taxes.   points are not de8uctible but must b... See more...
as to real estate taxes, escrow deposits and payments are not deductible. you get the deduction when money is taken out of escrow to actually pay the taxes.   points are not de8uctible but must be amortized over the life of the mortgage. interest charges would also be deductible/     other than those items it's unlikely that any charges are currently deductible.  some might add to your basis others are personal expenses which are not deductible or capitalizable.       also, if you refi'd for more than the mortgage balance at that time, interest attributable to the additional borrowing might not be deductible.   
Thanks for the reply, but this doesn't seem possible, because only the top two numbers match boxes on the K-1 form:  the ordinary and qualified dividend income.  The labels of the final four numbers ... See more...
Thanks for the reply, but this doesn't seem possible, because only the top two numbers match boxes on the K-1 form:  the ordinary and qualified dividend income.  The labels of the final four numbers don't match descriptions on any of the other boxes of the K-1 form, so I have no idea how to enter them on a K-1.
the issue is the tax laws say the sale at a loss of personal items is not deductible but the sale of personal items at a profit are taxable
Hi all. I sold about $7,400 worth of personal clothing/items on eBay in 2024. Overall I did not make a profit with most items sold for less than I paid. eBay issued a 1099-K, but I accidentally for... See more...
Hi all. I sold about $7,400 worth of personal clothing/items on eBay in 2024. Overall I did not make a profit with most items sold for less than I paid. eBay issued a 1099-K, but I accidentally forgot to include it when I filed my 2024 taxes so I’m amending now just to report it. I’m entering cost basis equal to the sales price so the result is zero taxable gain. Is this the correct approach for personal items sold at a loss? Any concern about audit risk for amending only to report the 1099-K? Anything else I should do/document? Thanks for any guidance!
The full amount of income is taxed if a hobby or “other income “ but it your aim is to turn a profit it’s a business so you can deduct expenses including the cost of your supplies. 
If I understand correctly, you are the biological parent with whom the child lived all year but the child has parents who had adopted her in your absence. Assuming the other qualifications for depend... See more...
If I understand correctly, you are the biological parent with whom the child lived all year but the child has parents who had adopted her in your absence. Assuming the other qualifications for dependency are met you would have the right to claim her as a dependent since she lived with you. You should discuss this with the other parents since if they also claim the dependency both of your returns will be questioned by the IRS and both will have a mess to deal with. 
So, I had my child and ended up in trouble and lost her. She was adopted since my sentence was way longer than my state could foster a child. Fast forward many years and I now have legal custody of m... See more...
So, I had my child and ended up in trouble and lost her. She was adopted since my sentence was way longer than my state could foster a child. Fast forward many years and I now have legal custody of my child. However, her adoptive parents still have parental rights and are the ones on her birth certificate. A judge ordered she live with me full-time at the beginningof the year. She has been with me all year and does not visit them. I read a little about how it depends on where the child is living but honestly, our case is rare. Who files taxes in this situation? I house her, feed her, clothe her, drive her 4 hours to her dr appts monthly since we have not switched to be closer to where I live. They help here and there but I have taken full responsibility. I have not claimed a dependent on my taxes for work yet because I do not want to get in trouble with this situation. Any advice would be great. 
When I had two homes in two different states. I established my permanent residency based on tax consequences. In the case at the time, it was irrelevant, how much time I spent in each location, under... See more...
When I had two homes in two different states. I established my permanent residency based on tax consequences. In the case at the time, it was irrelevant, how much time I spent in each location, under each state’s rules. One state had a Homestead act, one state had income tax.  By choosing Florida, I eliminated the New Hampshire interest and dividends tax and lowered my Florida property tax. I got my license, registered to vote, registered my cars, etc. in Florida. Keep in mind the current laws may be different, I only have property in one state now. Some states have requirements for number of days of residency. Often, you can make choices based upon your tax consequences in each individual state. Every situation is different, depending on the different states you own homes in. I cannot cover every situation; examine the tax consequences of your preferred primary residence state vs your other states. Some people choose to retire in a specific state to save taxes. Always abide by each state’s regulations and tax law. 
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/m... See more...
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.
If you have a 6 digit PIN issued to you by the IRS you need to enter it in order to e-file.  Go to Federal>Other Tax Situations>Other Return Info>Identity Protection PIN and enter the six-digit PIN. ... See more...
If you have a 6 digit PIN issued to you by the IRS you need to enter it in order to e-file.  Go to Federal>Other Tax Situations>Other Return Info>Identity Protection PIN and enter the six-digit PIN.   https://www.irs.gov/identity-theft-fraud-scams/retrieve-your-ip-pin  
  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.  
You can absolutely keep them in a pdf format. I keep mine for 3 years. 
I'm trying to find my prior year taxes
I filed my 2024 tax return, but I cannot find the report.     User# [phone number removed]   Martha [removed]
The email states that there may have been an error in the imported data and to review the section 12 of my w2. I have reviewed my W2, how do I verify on my documents that turbo tax imported the right ... See more...
The email states that there may have been an error in the imported data and to review the section 12 of my w2. I have reviewed my W2, how do I verify on my documents that turbo tax imported the right numbers and codes? When I log into turbo tax I have no alerts or notifications. I would like to validate this request as the email I received from is the same I get notifications from when I log into and download documents from turbotax.
  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.