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Opus 17

Assuming that you are donating them to a charity that will sell them to raise funds, you can only claim fair market value, or your original cost, whichever is lower--which is why you are being asked....

Assuming that you are donating them to a charity that will sell them to raise funds, you can only claim fair market value, or your original cost, whichever is lower--which is why you are being asked. For purchase date, use the purchase date of the house. For purchase price, you can estimate what their value was at the time. As long as that estimate is reasonable, and is higher than the fair market value when you donated, you should not have any problem. Write down your explanation for how you determined the value, and save it with your tax papers.

TurboImpotLiseD

@user17740182544 Une correction pour le formulaire LE-35 sera effectuée le 2 avril. Vous pouvez contourner le problème en ajoutant 1.00$ dans la case G 2 du Relevé 1 pour que tous les calculs RRQ se...

@user17740182544 Une correction pour le formulaire LE-35 sera effectuée le 2 avril. Vous pouvez contourner le problème en ajoutant 1.00$ dans la case G 2 du Relevé 1 pour que tous les calculs RRQ se fassent correctement. Nous sommes désolés de ce contre-temps. La case G 2 se trouve dans la section Renesignements supplémentaires du RL-1

mj0491789

Yes I never filed

AnnetteB6

This is not something TurboTax can fix. The error message is in place so that your state return will not be rejected when there is no value shown in box 16 and there is a value present in box 14a. ...

This is not something TurboTax can fix. The error message is in place so that your state return will not be rejected when there is no value shown in box 16 and there is a value present in box 14a. The problem is with the financial institutions issuing the Form 1099-R showing state tax withholdings, but not including a value for the state distribution. The state of New York electronic filing, and other states, requires that there be a value in both boxes if there is a value in the withholdings box. Since your Form 1099-R does not have that, the problem lies with the issuer of the Form 1099-R. The inclusion of both state tax withholdings and state distributions on Form 1099-R is not consistent with companies who issue Form 1099-R and the IRS instructions for Form 1099-R do not specifically address this either. @kelvin8888ng

JamesG1

Per @DavidD66 above: Platforms like Robinhood and Kalshi currently are not required to report prediction market transactions on Form 1099-B, or any other tax form. They may issue you a stateme...

Per @DavidD66 above: Platforms like Robinhood and Kalshi currently are not required to report prediction market transactions on Form 1099-B, or any other tax form. They may issue you a statement with all of your prediction market activity, it is up to the taxpayer to track their gains and losses and keep documentation. In TurboTax Online, report as 1256 transaction by following these steps: Down the left side of the screen, click on Federal. Down the left side of the screen, click on Wages & Income. Click the down arrow to the right of Less Common Investments and Savings. Click to the right of Contracts and Straddles. At the screen How to Report Your Transactions, select I'd rather report each transaction separately. See also IRS instructions for Form 6781, Gains and Losses from Section 1256 Contracts and Straddles @Prxdigy13

MaxA1

There are no particular code changes for this, but here's a list of items you can consider when trying to reduce the taxable gain on the sale of land: Selling Expenses: Brokerage fees, commi...

There are no particular code changes for this, but here's a list of items you can consider when trying to reduce the taxable gain on the sale of land: Selling Expenses: Brokerage fees, commission, legal fees, recording fees, title insurance, and advertising costs. Improvements: Costs for permanent improvements, such as clearing, grading, road building, or utility installations. Adjusted Basis: The original purchase price plus buying fees (surveys, legal fees, title insurance) and improvements. Capitalizing Carrying Costs: Instead of deducting them annually, you can elect to add property taxes and mortgage interest paid to your basis, which is useful if you don't itemize. Here are some links that may give you more info: Capital gains, losses, and sale of home Where do I enter the sale of a second home, an inherited home, or land on my 2025 taxes?

carmendeluca

J'ai transmis ma déclaration à Québec sans problème. J'ai eu ma confirmation. Lorsque je tente de transmettre au fédéral, on me dit qu'il y a une erreur concernant le T4 et c'est ce qui bloque. ...

J'ai transmis ma déclaration à Québec sans problème. J'ai eu ma confirmation. Lorsque je tente de transmettre au fédéral, on me dit qu'il y a une erreur concernant le T4 et c'est ce qui bloque. Mon employeur a fait une erreur dans mon dossier de paie en 2025, en me codant comme employée en Ontario, plutôt qu'au Québec. L'erreur a été corrigée au début de 2026 et on m'a donné le T4 amendé. Cependant, à cause de cette erreur, l'employeur n'a pas fait de déduction pour le RQAP et dans mon T4 et mon Relevé 1 il n'y a pas de montant. Ceci ne m'a pas empêché de transmettre ma déclaration au provincial, mais le fédéral indique que c'est une erreur puisqu'il le montant dans le feuillet de renseignement est à 0. J'ai appelé TurboImpôt hier et j'ai passé 1,5 heure avec l'agent qui finalement m'a dit qu'il ne peut pas me débloquer. Est-ce que quelqu'un a eu le même problème et comment ça s'es résolu? Merci.

leonardcantly006

TurboImpotLiseD

Il faut d'abord déterminer le temps passé au Québec selon les instructions de Revenu Québec: Vous avez quitté le Québec Si vous devez faire une déclaration TP-1 au Québec, vous ferez une 2ème décl...

Il faut d'abord déterminer le temps passé au Québec selon les instructions de Revenu Québec: Vous avez quitté le Québec Si vous devez faire une déclaration TP-1 au Québec, vous ferez une 2ème déclaration avec votre adresse du Québec et en indiquant dans la section Introduction que vous avez déménagée durant l'année et indiquer la date. Vous aurez accès au Relevé 1 pour le remplir et l'envoyer. Vous avez peut-être droit à certains crédits pour le temps passé au Québec. Donc, vous faites une déclaration avec votre adresse en Ontario au 31 décembre 2025. Vous envoyer votre décalration au fédéral. Ensuite, déterminez si vous devez en produire une pour le Québec. Merci de choisir TurboImpôt

user17741887275

With respect, that's not a helpful response; we understand the purpose of warnings. However there must be a specific criteria triggering that specific warning; there are which a whole bunch of people...

With respect, that's not a helpful response; we understand the purpose of warnings. However there must be a specific criteria triggering that specific warning; there are which a whole bunch of people, including myself, who don't believe applies to them and cannot take any corrective action to clear the warning unless we get more details or Intuit releases a fix. And yes, my version of TT is up to date. Warnings that are false alarms diminish their usefulness.

CesarJ

If your allowed foreign tax credit is $0 for the year but you have foreign tax credit carryovers, filing Form 1116 is generally required to preserve those carryovers for future use. Form 1116 must be...

If your allowed foreign tax credit is $0 for the year but you have foreign tax credit carryovers, filing Form 1116 is generally required to preserve those carryovers for future use. Form 1116 must be attached to your tax return when you want to claim or carry forward foreign tax credits. Even if the current year credit is zero, filing Form 1116 helps maintain your carryover balance with the IRS. The carryover amounts from previous years can be used in future years only if you properly report them on Form 1116, including attaching Schedule B (Form 1116) when required. Failure to file may affect your ability to use the carryovers later. This means that to ensure your $344 from 2024 and $345 from 2025 carryovers remain valid, filing Form 1116 this year is important, even with a zero current-year credit. To enter your foreign tax credit carryover in TurboTax Online and ensure Form 1116 is filed: 1. Go to the Wages & Income section and enter all your foreign income if you haven't already. 2. Navigate to Deductions & Credits and find the Foreign Taxes section. 3. Select Start or Update next to Foreign Taxes. 4. When asked if you want the deduction or the credit, choose Take a Credit. 5. Continue through the screens and TurboTax will prompt you to enter any carryover amounts from previous years. 6. Enter your carryover amounts accurately when prompted. 7. TurboTax will prepare and attach Form 1116 as required to preserve carryovers. Following these steps helps ensure your carryovers are properly reported and preserved for future use.

LeticiaF1

Try the following before you open your tax return and print it: Go out of your program and go back in. Clear your cache and cookies. Try a different Web Browser. If you are using TurboTax Des...

Try the following before you open your tax return and print it: Go out of your program and go back in. Clear your cache and cookies. Try a different Web Browser. If you are using TurboTax Desktop make sure all updates have been run on your program. You can do this by clicking on "Online" in the black bar across the top of your TurboTax screen. And then select "Check for Updates". If you have any additional questions or information regarding this please return to TurboTax Community and we would be glad to help. How do I get a PDF of my return? @llusignan

Gaian

Hello, This summer I worked in NY. When I was hired I lived in Massachusetts, so they used my Massachusetts address for my W2. This is why I have 2 states in w2. When I input the file on Turbotax, i...

Hello, This summer I worked in NY. When I was hired I lived in Massachusetts, so they used my Massachusetts address for my W2. This is why I have 2 states in w2. When I input the file on Turbotax, it include only the Massachusetts state ( I earned nothing in Massachusetts, but it inputs the amount I gained in NY) . I don't understand if I should also include in the income section the NY part and what I should input; should I change 0 in MA? Box 16 - state tax is what I am referring to!

Karis_F

When entering information for Form 1120S K-1 Box 17, Code V, leave the amount blank and select Continue to get to a screen that says We see you have Section 199A income. The following screen will ask...

When entering information for Form 1120S K-1 Box 17, Code V, leave the amount blank and select Continue to get to a screen that says We see you have Section 199A income. The following screen will ask for information related to Sec 199A income that is reported on your K-1's supplemental Statement A.

MindyB

Yes, for that specific line, you should use the amount you made in Missouri. Use the amount found in Box 16 of your W-2 (State wages) for Missouri rather than Box 1, though for many taxpayers, these ...

Yes, for that specific line, you should use the amount you made in Missouri. Use the amount found in Box 16 of your W-2 (State wages) for Missouri rather than Box 1, though for many taxpayers, these numbers are identical. This figure represents the income Kansas is currently "including" in your total taxable pool that was actually earned across the state lines. Because Kansas taxes its residents on all income regardless of location, you are providing this number so Kansas can calculate a Credit for Taxes Paid to Other States. This ensures that the money you earned in Missouri isn't fully taxed a second time by Kansas, effectively preventing double taxation on those specific earnings.

LaShaunA3

Thank you for providing the diagnostic for review. You entered the W-2 withholding amounts, but NJ is asking for the actual NY tax owed. Go to your NY return (IT-203), find Line 50 (NY tax) and...

Thank you for providing the diagnostic for review. You entered the W-2 withholding amounts, but NJ is asking for the actual NY tax owed. Go to your NY return (IT-203), find Line 50 (NY tax) and Line 51 (NYC tax), then multiply each by about 31% (the portion of income taxed by both NJ and NY). Replace the withholding numbers with those calculated amounts so NJ gives you the correct credit and avoids double taxation. [Edited 3/25/26 | 7:13 am PST] @davidjedz314

38WWDr

I'm using TurboxKnowing now that TurboTax 2025. I'm filing tax return with my wife together Knowing now that Turbotax cannot automatically split the rental income & expenses. I have manually entered...

I'm using TurboxKnowing now that TurboTax 2025. I'm filing tax return with my wife together Knowing now that Turbotax cannot automatically split the rental income & expenses. I have manually entered the rental income and expenses 50% on each of our return and indicate it as 100%. I KEPT the "Co-Owner" box checked as co-owned property. However, after saving the return, close it. When I reload the return, the 100% was NOT saved and shows as .000% Question#1: Why the 100% was NOT saved ? However, since my wife and I co-owning the property. Question#2: Should I still check the box as "Co-Owner" or I should check "Sole Propertior" box for 100% owner ship for BOT of our return in spite of the fact that my wife share half of the owner ship ? if yes, I tried to add my wife's name on my return and vice versa on my wife on the form. After saving the return, close it. I then reload it. I found that the co-owner name WAS NOT saved. Question#3: How & where can I enter co-owner info ? PS: I've been using TurboTax for many years but this is my FIRST time to use TurboTax for filing rental property income & expenses. Any help will greatly be appreciated.

julienbimpot

MaxA1

Leaving the TIN field blank should work, and is the most correct solution. But if you're still getting issues, just report it as other income. You can enter it in the Miscellaneous Income section un...

Leaving the TIN field blank should work, and is the most correct solution. But if you're still getting issues, just report it as other income. You can enter it in the Miscellaneous Income section under Other income not already reported on a W2 or Form 1099. @user17741068363

Bsch4477

Be aware that the most you can contribute is $7,000 in 2025. See this post to correct your excess contribution. https://ttlc.intuit.com/community/tax-credits-deductions/discussion/how-to-report-rem...

Be aware that the most you can contribute is $7,000 in 2025. See this post to correct your excess contribution. https://ttlc.intuit.com/community/tax-credits-deductions/discussion/how-to-report-removal-of-excess-roth-ira-contribution/00/3683903#:~:text=If%20you%20have%20already%20removed,removed%20the%20contribution%20and%20earnings.

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Re: I've donated cabinets during a remodel. TurboTax is asking when it was purchased and the amount. The items came with the purchase of the home. What do I do?

Re: Problème avec le formulaire LE-35

Need help amending my 2023 tax return

Re: Box 14A New York State withholdings can no be greater than or equal Gross Distribution or Sta...

Re: Capital Gain and loss, Robinhood and Kalshi

Re: Minimizing liability on Capital Gains from a land sale

Impossible de transmettre ma déclaration au fédéral

Line 11 has non-qualified plan

Re: J'ai recu recu un R1 pour la partie de l'année 2025. Je demeure maintenant en Ontario et je n...

Re: Strange warning on non-capital loss and T691

Re: Do I need to file Form 1116 if foreign tax credit is $0 but I have carryovers?

Re: I filed my 2025 1040X amendment already, it's accepted by the IRS. The PDF copy shows blank 1...

Multiple States in W2

Re: Not letting me file my federal taxes.

Re: Not sure how to answer K-40 question as a resident of KS but working in MO

Re: Allocate New York State Adjustments HELP!

How to enter Co-Owner info knowing TurboTax cannot split Rental Income & Expense ?

À la fin de ma demande, on me demande de payer 60$ pour les logiciels utilisés. Je n'ai pas utilisé de service payant, comment je fais pour procéder ?

Re: Does anyone have a 1099DIV from Nokia? The Payer's Federal ID Number is all Zeros and it keep...

Re: 1099-NEC and contributed more to roth ira, now what?

Do you have a TurboTax Online account?

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