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No.   If you were to break service and don't pay the loan back, the remaining loan balance will be reported as a distribution at that time. 
My mother deeded her house to me and my two sisters in August 2025 shortly before she passed away. We then sold the house for equal shares a few months later in December 2025. We didn’t own the house... See more...
My mother deeded her house to me and my two sisters in August 2025 shortly before she passed away. We then sold the house for equal shares a few months later in December 2025. We didn’t own the house for very long nor did we reside in it so we are not exempt from paying taxes on the sale. We never received a 1099-S. Based on my research, we are required to report the sale to the IRS and pay capital gains tax on the profit from the house sale, calculated as the difference between the selling price and the home's original purchase price as the house was gifted to us.   First, does this sound accurate based on the circumstances?   Second, as we equally split the sale three ways, we would each only report our portions of the sale. Therefore, when we each list the original value of the house and what we individually made from the sale, a loss would be shown, negating any taxes. This is despite the total sale of the house being for more than the original purchase price. Is this correct?  
i need help delething something
@mattmarshallcycling wrote: I did it this way in the online mode, not the forms mode. It got the deduction in, but it does not add my description next to the negative number. What do you think? ... See more...
@mattmarshallcycling wrote: I did it this way in the online mode, not the forms mode. It got the deduction in, but it does not add my description next to the negative number. What do you think? @mattmarshallcycling    What I think is that I wouldn't use that workaround. It gets the net result that you want, but the tax return is not correct. There is a line on Schedule 1 specifically for the adjustment that you want to claim. It's line 24h. But you're not putting it on that line. With no description on line 8z, the IRS is going to wonder why you are reporting negative other income. You'll probably get an IRS notice about it, or they might even reject your e-file. (The description that you enter appears on the "Other Income Statement." That statement should be included in your tax return, and Schedule 1 line 8z should reference the statement, but apparently TurboTax doesn't do that.)  
@KathyHe , it took me a little time to create your scenario -- what I have done  ( and it works correctly ) using  Windows Home & Business: (a) what needed to be achieved ---  1. step-up value base... See more...
@KathyHe , it took me a little time to create your scenario -- what I have done  ( and it works correctly ) using  Windows Home & Business: (a) what needed to be achieved ---  1. step-up value based on FMV on the date of passing of spouse; 2. recognize  accumulated depreciation claimed/allowable for the period of rental use of the property  for basis adjustment and for recapture ( ordinary gain treatment); 3.Home sale exclusion for both spouses ( section 121 -- spouse passed within the last two years and met all the all the eligibility before passing ). (b)     1. In the personal information area, set up a new return naming the living spouse as primary, decedent as secondar filer, provided date of passing etc. ; 2. Entered   incomes ( under personal income tab and choosing "I will choose what I work on " and then visiting the  appropriate income categories); 3. Under sale of home entered  details  ---  acquisition cost, cost of improvements over the years,  sales price, sales  cost   (-- used a  detail back-up sheet to detail, sales prep. costs, commission, title company / closing costs, transfer tax etc. ) 4. for depreciation --- added all the depreciation amounts allowed  ( from  Schedule-E line # 18 of each year ) and entered these as a back up detailed sheet. When all done, then moved to forms mode  --  In Forms mode  --- from the left side ( list of forms and worksheets being used :(           (A)  Home Adj. Basis --- check/ confirm ( including the details sheets ) for lines  4 ( Cost of Improvements ),  line 7 ( other increase to basis) -- add / confirm statement " Step-up -- passing of spouse" --- use a detail back-up sheet to show how you arrived at the figure,  line 10  ( Depreciation .... ) -- again use a detail back-up sheet to show how you came up with the total figure,  line A1 ( AMT ) --- this should be the same as line 10 -- but check from old Schedule-Es            (B)  Home Sale Wks. ---- this is where all the details of the home sale is shown -- check and make sure all is good.  Line 16 should be checked if the  statement is correct --- decedent spouse's DoD is no more  than two years from the closing of the sale date and was otherwise eligible for the  gain exclusion.  Checking of this box triggers the US$250,000 eligibility for both spouses/owners/users.   If all looks good then go back to step-by-step and allow TurboTax to do all the checks etc.   Hope this  helps in your preparing a correct return. Is there more I can do for you ?            
romad, I originally tried it onMacOS 15.7.3 Sequoia, then after it wouldn't show SSA-1099, I loaded it onto a MBA Tahoe 26.2 with the same issue. Will wait for the next update and see if it works. ... See more...
romad, I originally tried it onMacOS 15.7.3 Sequoia, then after it wouldn't show SSA-1099, I loaded it onto a MBA Tahoe 26.2 with the same issue. Will wait for the next update and see if it works. I may also go back and download the installer again.
Do I need to claim a 1095-A if im an dependent on someone else taxes
Thx - will do
All I got is a letter saying to apply by January 29 2025 but I never did
I am just confused because i keep seeing my estimated returns to be $1800 but when I add this insurance info it drops to 60 federal. On top of this am I suppose to include the $1500 in benefits from s... See more...
I am just confused because i keep seeing my estimated returns to be $1800 but when I add this insurance info it drops to 60 federal. On top of this am I suppose to include the $1500 in benefits from self-insured medical plans for the state?
You probably answered something incorrectly in MY INFO.   Go back to MY INFO, click the child’s name  and go through all of the interview questions carefully and slowly.  Read every screen top to bot... See more...
You probably answered something incorrectly in MY INFO.   Go back to MY INFO, click the child’s name  and go through all of the interview questions carefully and slowly.  Read every screen top to bottom.     Make sure you have entered your child as a dependent in My Info, and that you have entered the child's Social Security number.    Careful— do not say that your child’s SSN is not valid for employment.  If your child was born in 2025 make sure you said he lived with you the whole year.  There is an oddly worded question that asks if the child paid over half their own support.  Say NO to that question.   If your dependent was a full-time college student, make sure you were careful on the MY INFO screen for “Uncommon situations” and that you indicated there that they were a student.
I had to turn off my Bite Defender (anti virus, firewall, etc). Then Turbo Tax would continue to load. 
ENTER 1095A  TT FAQ https://ttlc.intuit.com/turbotax-support/en-us/help-article/insurance-medical-benefits/enter-1095/L6CLFzhri_US_en_US?uid=m62itugr   How to find your 1095-A online Log in... See more...
ENTER 1095A  TT FAQ https://ttlc.intuit.com/turbotax-support/en-us/help-article/insurance-medical-benefits/enter-1095/L6CLFzhri_US_en_US?uid=m62itugr   How to find your 1095-A online Log in to your account. Under "Your Existing Applications," select your 2025 application — not your 2026 application. Select “Tax Forms." Download all 1095-As. Get screen-by-screen directions, with pictures (PDF, 504 KB).    
You can get live help doing your return by clicking the button inside your return to ask for help.  You'll have the option to ask an expert by text or have them take over doing your return.   You... See more...
You can get live help doing your return by clicking the button inside your return to ask for help.  You'll have the option to ask an expert by text or have them take over doing your return.   You can also come back here with more information and the community will be happy to help!
@oaklander  #1  We need more info on your dependent.   Where is it not showing up?   On the first page of the 1040?   What boxes are checked for them under Dependents?   Maybe they don’t qualify for... See more...
@oaklander  #1  We need more info on your dependent.   Where is it not showing up?   On the first page of the 1040?   What boxes are checked for them under Dependents?   Maybe they don’t qualify for the EIC or Child Tax Credit or the Additional Credit?  What’s their age and did they have any income?     There are a couple questions you could have answered wrong under My Info.  Click on My Info then click Edit by Dependents, then click Edit by their name and go though all the screens again.  First of all check their date of birth.  Also you need to enter a ssn for them.  And say their ssn is valid for employment.   #2  Efile 1099NEC.   Are you using the Desktop Windows program?   If you use the Desktop Create Forms you can only print and mail the 1099NEC and 1096.   #3  Where does Turbo Tax say you need a 1099NEC for $10?   Are you receiving the income or paying it?   A 1099NEC is only needed for $600 or more.   1099s for interest and dividends are issued for $10 or more.   BUT you must report all your income no matter how small even if you don’t get a 1099NEC or 1099 INT or 1099DIV.