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Trying to load investment tax forms fron SEI and Schwab
Thank you SteamTrain for your explanation . My specific situation was as follows:  I paid ALL of my “State” estimated tax payments for “2024” (including 2024 4th qtr ) in Dec. 2024. I was trying to ... See more...
Thank you SteamTrain for your explanation . My specific situation was as follows:  I paid ALL of my “State” estimated tax payments for “2024” (including 2024 4th qtr ) in Dec. 2024. I was trying to confirm my responses to two Turbo Tax form questions for “Uncommon Situations”. 1) One TT form said “Select all boxes for State tax payments made in 2025 for 2024”. There was a CHECKED check box that said “2024 4th quarter estimated tax payment during 2025 to a state”. And I UNCHECKED this box since I paid ALL of my 2024 during 2024 – not 2025. 2) The next TT form said “How much of your 2024 estimated state taxes did you pay in 2025”? And I ENTERED “$0” since I paid ALL of my 2024 during 2024 – not 2025. Do you think my entries noted above were correct - including TT form in 2)?
No, this has been on Turbotax for nearly 30 years of commercial building depreciation. Shows as such in the depreciation reports. This is not something new for Turbotax. I looked back at my last depr... See more...
No, this has been on Turbotax for nearly 30 years of commercial building depreciation. Shows as such in the depreciation reports. This is not something new for Turbotax. I looked back at my last depreciable big ticket item in 2017 and some from earlier and the step-by-step questions were about the same. I must have had to  muddle my way through form 4562, guessing on entries and then generally taking Section 179 each time when I could.  I also installed new asphalt in the parking lot in 2025 but that one was easily determined to be Land Improvements and the step-by-step was fine for that.  But TT is really lacking on this HVAC depreciation subject for a commercial property owner. They insist the H & B product is perfect for landlords. Not so.
Go back to the w2 screens in the federal income section and change the state information there to pull over correctly. Move or delete numbers in that area until your NC is correct. Your resident stat... See more...
Go back to the w2 screens in the federal income section and change the state information there to pull over correctly. Move or delete numbers in that area until your NC is correct. Your resident state automatically taxes all income and you need the nonresident correct. Example:  w2 form would look like this in the state section Resident state - total income minus NC income NC nonresident state -NC income
I am glad so many of you have been able to fix this issue, but I have now tried all of the above suggestions to no avail.  I had TT loaded on this Surface previously but due to an oversight on my par... See more...
I am glad so many of you have been able to fix this issue, but I have now tried all of the above suggestions to no avail.  I had TT loaded on this Surface previously but due to an oversight on my part, I had to rebuild the unit from scratch yesterday.  Thus, all files are fresh and fully up to date.  My system is like the others: Win11, ARM chipset, etc.  I also tried loading TT on my wife's exact same PC and it worked perfectly.  I have also run through the suggestions on Google AI and had no luck.     So, if anyone has any further suggestions to move TT beyond the "OK, we know it's taking a bit more than a moment", I would be eternally grateful.
If your lump sum payment is taxable, you should have received a Form 1099-MISC. Check with the company that issued the payment.
Thank you. I do not feel comfortable deleting the vehichle as it has all the history and is protected for four years. The vehicle was sold on Dec 17 so it was 4 years, or does because it was used in ... See more...
Thank you. I do not feel comfortable deleting the vehichle as it has all the history and is protected for four years. The vehicle was sold on Dec 17 so it was 4 years, or does because it was used in 21,22,23,24,25 (sold on dec 17) that counts as 5 years and can be 0?   I have tried to find the override, but doesnt that invalidate the protection? Both of these solutions seem to put me in harms way and how am I supposed to do that?   Is there any other way?
These are personal items sales. 
If your Grant was used to reduce the cost of your home purchase, it can be considered to lower your cost basis in the house rather than be reported as current income in the year it was granted, as ot... See more...
If your Grant was used to reduce the cost of your home purchase, it can be considered to lower your cost basis in the house rather than be reported as current income in the year it was granted, as other users in this thread had noted years ago.   Bank of America's website states "Down Payment Grant program may be considered taxable income, a 1099-MISC will be issued, consult with your tax advisor".   Always respond promptly and directly to an IRS Notice. If you file an amended return in response to a notice but don't directly notify the sender of the Notice, they may not get the information in time to stop the next step in the correspondence audit process. In addition, the agency is currently understaffed, which adds to the delays on their side.   Follow the instructions in the Notice to respond to it as soon as possible.   @ldiaz92   
You will enter as an Investment.  The IRS treats precious metal are as Collectibles, so they do not get a favorable capital gain tax treatment.  See Precious Metals and Stones, Stamps, and Coins.  ... See more...
You will enter as an Investment.  The IRS treats precious metal are as Collectibles, so they do not get a favorable capital gain tax treatment.  See Precious Metals and Stones, Stamps, and Coins.   To enter PRECIOUS METALS as investment sales in TurboTax Premier desktop:   Under FEDERAL TAXES tab,  Wages& Income, select Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B) under Investments and Savings. Did you have investment income in 2025? YES On the Let's finish pulling in your investment income- click on the Add Investment button On the Let Us Enter Your Bank and Brokerage Tax Documents, click on Skip Import OK, let's start with one investment type- choose Other then Continue On the “Tell us more about this sale  Precious Metals” Continue Now, enter one sale for PRECIOUS METALS  (using Collectible under What type of investment did you sell?)   To enter PRECIOUS METALS as investment sales in TurboTax Premium online:   From the Federal section, under Wages & Income, Select Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B, 1099-DA) under Investments and Savings On the Let’s finish pulling in your investment income page, click on Add investments. On the Save time and connect your financial accounts click on Enter a different way On the “How do you want to add your docs?” click on Type it in myself On the OK, let's start with one investment type, click on Other and Continue On the Tell us more about this sale, type Precious Metals On the Now enter one sale for Precious Metals, complete the information using Collectible under What type of investment did you sell?    
Do I have to pay taxes on a lump sum from critical illness insurance that my company paid for? It was a free benefit from my work
TurboTax is asking for a transaction that happened 20 years ago. Brokerage doesn't have a record and neither do I. What am I supposed to do?
The TurboTax Free online edition is for very simple tax returns that do not require any other form or schedule other than the Form 1040.  If your tax data requires entry on any other form or schedule... See more...
The TurboTax Free online edition is for very simple tax returns that do not require any other form or schedule other than the Form 1040.  If your tax data requires entry on any other form or schedule then you must upgrade to the Deluxe edition or higher.   The Deluxe online edition is $49.  Adding a state tax return is an additional $39.   The TurboTax account fees are not based on the amount of the tax refund or the amount of taxes owed.
The senior deduction is an additional deduction, but it is not included with your standard or itemized deductions. It's calculated on Schedule 1-A, and the amount, along with any others on that sched... See more...
The senior deduction is an additional deduction, but it is not included with your standard or itemized deductions. It's calculated on Schedule 1-A, and the amount, along with any others on that schedule flows to line 13b of your 1040   The QBID deduction is also not included in either your standard or itemized deductions. It's computed on Form 8995 and flows to line 13a of the 1040
To handle this solo 401(k) withdrawal where you control the bank account, you will need to issue a Form 1099-R yourself.     As the Plan Administrator, your business (or the Trust) is the "Paye... See more...
To handle this solo 401(k) withdrawal where you control the bank account, you will need to issue a Form 1099-R yourself.     As the Plan Administrator, your business (or the Trust) is the "Payer," and you are the "Recipient".     You will need Form 1099-R to report the distribution, as well as Form 1096, which is the summary transmittal form used when mailing paper forms to the IRS.     Use the name and EIN of your Solo 401(k) Trust (not your personal SSN or your business EIN), as the Payer.     Use your personal name, address, and SSN, as the Recipient.     Distribution Codes for Box 7:   Code 7: If you are over age 59½ (Normal distribution).   Code 1: If you are under age 59½ (Early distribution, likely subject to a 10% penalty).   Code G: If you rolled the money over to an IRA or another 401(k)     Here is a helpful link to What do all the codes in Box 7 of the 1099-R mean?   To obtain the above Forms, you will need to either go to an online service, or download them directly from the IRS.  
Thanks for your reply.  I prefer not to identify the fund in fairness to my broker and the fund.  I can tell you that it is with a fairly prominent investment management firm.