All Posts

My refund has been sitting in a account with cross river bank since feb 20th, they claim they have to get the “ ok” to release my funds from turbo tax but turbo tax is saying something else, turbo tax sent an email showing that fees was taken outta my refund as well so what is the hold up , I am a customer of turbo tax , not cross river, therefore , when your customers have an issue with your business partners , partners you introduced to YOUR customers, u should make sure things go smoothly,be the first and only resource to fixing any issues, u offered a service to your customers, and it wasnt delivered, I shouldn’t have to go on a duck hunt to look for my money and then when I find it, it’s just sitting an account with a bank I don’t know or don’t do business with , all of this for a 5 day early option , 5 days turned into to 3 weeks ongoing ,been a loyal customer for almost 10 yrs , this right here , I am never ever filing with turbo tax again, I am pissed 

Bonjour Lise, merci du retour. J'utilise la version "desktop" de Turboimpot. La feuille de travail "Crypto" n'est pas à jour et ne contient que les "types de cryptoactif" de l'année dernière:     Ensuite dans la section de revenus d'entreprise, on doit ventiler par "type" pour être en règle avec le TP-21.4.39, ça donne ceci:   Les totaux sont bien rapportés dans l'annexe L pour le Québec, mais pour le fédéral ça créer un T2125 par ligne plutôt que de reprendre le total. Ici donc ça créer 3 T2125. Je ne peux pas venir "consolider" le total des revenus d'entreprise sur un même T2125, parce que ça me dit que je ne pourrai alors pas transmettre par ImpotNet. Chaque T2125 reprend le revenu bruts d'une ligne de la feuille de travail crypto, plutôt que d'utiliser le total du revenu brut sur une feuille.

I am running the Mac version. The Flags box appears to only hold a single flag. If I edit it it replaces the current one. Or I can delete the flag. Sure would be nice to flag all the issues the first time through to be able to fix them all at once.

@Alycaria    Answers to Q1 & Part of Q2   What kind of income (Dividends, CG or ordinary income) are the gains from your Ponzi scheme investment is actually not relevant. Here is what happens to the numbers (in my case on 2017 4684 and schedule A, 2025 Schedule A line numbers are different than 2017 but 4684 seems to match closely if not exact)   Assuming it's a net loss (income can't cover the losses) The key is to calculate the net loss (investment principle - gain). Net loss then offsets your AGI through schedule A.   4684 is filled out in the following order    1. Section C Part I if using safe harbor rules. This part will calculate the net loss which subtract your historical gains. Then decide claiming 75% or 95% of the loss on tax return (on line 51)   2. Line 51 then forward to Section B Part I line 28.   3. Line 28 then forward to Section B Part II either < 1 year or > 1 year section before transferring to Schedule A   4. Forward to Schedule line 28 (of 2017 forms) which is "Other Itemized Deductions". Step 3 says where on Sched A to transfer to. 2025 4684 says to transfer to Schedule A line 16 on either line 32 or 38b. Loss is reported on Schedule A as "Other Itemized Deductions" (add the note "FROM FORM 4684, SECTION B" on this line) rather than Casualty and Theft loss line (2025 line 15) on Schedule A.   So follow this calculation sequence you can see it's not counting the income as CG or ordinary income. Its just deducted from the total investments to calculate the net loss which offsets your AGI through Sched A.   In my case, my incomes were phantom income. Income from investment in prior years just went back into the investment and I never received the $ but paid taxes on it (1099 was issued) So phantom income (line 42 of 2025 4684) adds to the original principle to calculate the total loss.   Note Section C Part II also need to be filled out to describe the person/entity that committed the fraud.   Not sure Turbotax simple interview process can do all the properly. Turbotax interview process handle more rare cases poorly and incorrectly in several of my experiences. May have to manually enter it in forms.   My taxes was done by a CPA so just noting what they did for me and how the numbers flowed.   2025 2017 4684   https://www.irs.gov/pub/irs-pdf/f4684.pdf https://www.irs.gov/pub/irs-prior/f4684--2017.pdf   2025 2017 Sched A   https://www.irs.gov/pub/irs-pdf/f1040sa.pdf https://www.irs.gov/pub/irs-prior/f1040sa--2017.pdf   Answers to Q2 NOL   On NOL, I don't have experience so probably best to ask someone that knows how to spread out the losses over multiple years. I knew other Ponzi victims that did NOL as its quite common to exceed the AGI. Furthermore, since losses offset AGI, one might consider spreading it out with NOL to only offset the higher tax brackets each year.

It is true that investment expenses per se are not deductible. But the dollars listed under the heading "UNDETERMINED TERM TRANSACTIONS FOR NONCOVERED TAX LOTS" on 1099-B are not "expenses" for tax reporting purposes.  Those dollars derive from SALES OF GOLD TO PAY FUND EXPENSES, not the expenses themselves.  Since they are bona fide sales for each GLD shareholder (on a pro rata basis), they get reported to IRS on 1099-B.  And this unusual reporting is why we have to go through this nightmare, as opposed to other fund types that pay their expenses without separately reporting sales of shares or whatever underlying asset they hold to the IRS.   If I'm understanding correctly, then no one should skip step 2 on the State Street document I reference because in step 2 you calculate your pro rata share of the gold (in ounces) sold to pay expenses.  The amount in sold in ounces will need to be deducted from the amount of ounces originally purchased to provide an accurate basis in ounces of gold that have been sold when GLD shares are finally disposed of.   As for the result of step 5, that number should exactly equal the total reported for the year on Schedule 1099-B under the heading "UNDETERMINED TERM TRANSACTIONS FOR NONCOVERED TAX LOTS" -- and as such it is one of the numbers you must report, along with the result of step 3, the total cost of gold sold.   In essence, for each year a person owns GLD, they must report the result of step 5 (which equals 1099-B) as the sales proceeds and the result of step 3 as the "cost basis" for the sales proceeds.  The difference between sales proceeds and "cost basis" equals the gain or loss for that year for tax reporting purposes.   This, at least, is my best understanding of it.  

For individual funds within the brokerage account they do provide details of different types of dividends and capital gain, such as: Dividends:  nonqualified, qualified, section 199a, another qualified, another section 199a, nonqualified, long term capital gain, etc., etc.  They do not provide an amount for Box 1a - Total Ordinary Dividends.

@ eznoh  wrote: The rejection message says:  IND-181-01 - The Identity Protection PIN (IP PIN) for the first taxpayer on your return is missing.  Did you enter the 6-digit IP PIN in the correct place I mentioned above using the steps I provided earlier today?  Did you find that category OK;  i.e., in "Other Tax Situations>Other Return Info>IP PIN?"?  I can make a screen image if needed.   Did you enter it for the "first taxpayer" on the return?    If so, are you sure it is the correct IP PIN?  You have to get a new IP PIN every calendar year. Did you get and use your new IP PIN for this year?    Some people get their new IP PIN each year in a letter from the IRS usually each January, while others (mainly those who opted in) do not get letters but can retrieve their new IP PIN each year in their online IRS account.   How did you receive your new IP PIN to use for calendar year 2026--in an IRS letter or in your online IRS account?

  You guys keep insisting that I was only charged once, but according to my bank account, the payment was actually withdrawn twice. I have attached a photo showing the two transactions. Please review this carefully and let me know how you will resolve this issue, as I expect a prompt correction and refund.

I even looked at the big beautiful bill and didn't find any language which changed the courts ruling.  How do I do the return in Turbotax, since the limit of $750,000 is applied in every case?  Do I just divide the mortgage by each persons contribution?