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The Safe Harbor Election for Small Taxpayers allows you to expense the cost of improvements up to two percent of the basis of your building but no more than $10,000. The balance of the cost for the n... See more...
The Safe Harbor Election for Small Taxpayers allows you to expense the cost of improvements up to two percent of the basis of your building but no more than $10,000. The balance of the cost for the new roof would be depreciated over the same class life as the building itself (27.5 years for residential rental properties).
Dans TurboImpôt en ligne vous n'avez pas accès directement aux formulaires. VOus devez faire les ajustements et corrections dans la section Entrevue appropriée.  Dans TurboImpôt en ligne, vous deve... See more...
Dans TurboImpôt en ligne vous n'avez pas accès directement aux formulaires. VOus devez faire les ajustements et corrections dans la section Entrevue appropriée.  Dans TurboImpôt en ligne, vous devez retourner au début de la demande du crédit et ajuster vos montants. Dans le menu de gauche, cliquez sur Provincial - Crédits du Québec et CONTINUER.      Merci de choisir TurboImpôt
I have never been able to import 1098 or 1095-A. All 1099's can be imported if your institution supports it. Use the same import steps you used for 1099-INT/DIV.  Not all institutions support it, and... See more...
I have never been able to import 1098 or 1095-A. All 1099's can be imported if your institution supports it. Use the same import steps you used for 1099-INT/DIV.  Not all institutions support it, and sometimes you may need to look for your custodian's sign-in instead of, for instance, your direct financial institution.
Dans TurboImpôt en ligne vous n'avez pas accès directement aux formulaires. VOus devez faire les ajustements et corrections dans la section Entrevue appropriée.  Dans TurboImpôt en ligne, vous deve... See more...
Dans TurboImpôt en ligne vous n'avez pas accès directement aux formulaires. VOus devez faire les ajustements et corrections dans la section Entrevue appropriée.  Dans TurboImpôt en ligne, vous devez retourner au début de la demande du crédit et ajuster vos montants. Dans le menu de gauche, cliquez sur Provincial - Crédits du Québec et CONTINUER.      Merci de choisir TurboImpôt
Online instructions from Google search indicate to use "Additional Taxes and Repayments" section to apply 2024 overpayment of taxes to 2025, to reduce taxes in 2025.
Did you e-file your state tax return and was it accepted? Only the IRS and your State control when and if a Federal or State tax refund is Approved and Issued.   You complete your tax return by ... See more...
Did you e-file your state tax return and was it accepted? Only the IRS and your State control when and if a Federal or State tax refund is Approved and Issued.   You complete your tax return by finishing all 3 Steps in the File section. In Step 3, to e-file your tax return, you must click on the large button labeled "Transmit my returns now".   After completing the File section and e-filing your tax return you will receive two emails from TurboTax. The first email when your tax return was transmitted and the second email when the tax return has either been accepted or rejected.   Note - Once a tax return has been Accepted by the IRS or a State, TurboTax receives no further information concerning the tax return or the status of any tax refund.  Only the taxpayer listed on the tax return can obtain the status of a tax refund or a tax return.   To check the status of an e-filed return, open up your desktop product or log into your TurboTax Online Account. You can find your status within the TurboTax product. If accepted by the state use this TurboTax support FAQ to check the state tax refund status - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_...
Yes, if you’re splitting the mortgage interest deduction between two Married Filing Separately returns, you should split the mortgage balance shown in Box 2 the same way for consistency.    Publi... See more...
Yes, if you’re splitting the mortgage interest deduction between two Married Filing Separately returns, you should split the mortgage balance shown in Box 2 the same way for consistency.    Publication 936 (2025), Home Mortgage Interest Deduction
I spent Jan through June of 2025 as a  NY resident.  Employment and NY lease ended on 6/30.  Spent the next three months on an extended vacation, using a friends address in NJ.  I had no W2 related i... See more...
I spent Jan through June of 2025 as a  NY resident.  Employment and NY lease ended on 6/30.  Spent the next three months on an extended vacation, using a friends address in NJ.  I had no W2 related income during that time.   I returned to MD in Sept, started a new job and obtained a lease.   For my 1099int income   Is the right allocation 50% for NY,   25% for NJ (even though no formal residency was established, it was just hanging out), and 25% for MD ?   In other words,  is it OK for 25% of the interest income escape state taxes since its below NJ filing threshold ?  or am I a resident of NY until MD residency is established. 
If you qualify for the Safe Harbor Election for Small Taxpayers, the deduction is limited to two percent of the adjusted basis of your building or $10,000 maximum. Be sure you are selecting the corre... See more...
If you qualify for the Safe Harbor Election for Small Taxpayers, the deduction is limited to two percent of the adjusted basis of your building or $10,000 maximum. Be sure you are selecting the correct election (see more below).   Per the IRS, the requirements of the safe harbor election for small taxpayers are: Average annual gross receipts of $10 million or less; and Owns or leases building property with an unadjusted basis of less than $1 million or less; and The total amount paid during the taxable year for repairs, maintenance, improvements, or similar activities performed on such building property doesn't exceed the lesser of- Two percent of the unadjusted basis of the eligible building property; or $10,000 (for questions about how to calculate the unadjusted basis, refer to "Figuring the Unadjusted Basis of Your Property" in Publication 946. This Safe Harbor Election is separate from the De Minimis Safe Harbor election for assets that lets you deduct the full cost of items worth $2,500 or less, instead of depreciating.    For more info, see What can I expense or depreciate with the new business safe harbor election?
If there is enough of a gain being reported on her tax return that $3000 of the loss is being used, then you most likely need to file the separate return.  Whether or not the unused carryover loss of... See more...
If there is enough of a gain being reported on her tax return that $3000 of the loss is being used, then you most likely need to file the separate return.  Whether or not the unused carryover loss of $500 will be used for the 2026 return will be determined next year.  Either way, if it is not filed for the 2025 return, then the whole loss will be lost and cannot be claimed later.   Take a look at the following TurboTax help article for some advice about whether a return is required to be filed for your daughter:   Do I need to file my own taxes if I'm a dependent?  
Please bring ItsDeductible back! There is no other comprehensive deduction tracking software or application out there. 
In the TT "tax history" form, there is all the data that should feed the tax history graph in the downloaded TT 2025 program. Yet, it doesn't display correctly (see attachment) - it won't show the Ta... See more...
In the TT "tax history" form, there is all the data that should feed the tax history graph in the downloaded TT 2025 program. Yet, it doesn't display correctly (see attachment) - it won't show the Taxable Income line. Is that a bug or what else is causing that?
You can transfer your tax return form TaxACT to TurboTax Desktop. Refer to the TurboTax Help article Transfer last year's return to TurboTax Desktop for instructions.
To remove or delete a form, it's best to do it from within your return.   Open or continue your return. Search for the form name in the search bar  Select the Jump to link in the search ... See more...
To remove or delete a form, it's best to do it from within your return.   Open or continue your return. Search for the form name in the search bar  Select the Jump to link in the search results to get to the summary screen. From here, you can select the trash can icon to delete. How do I view and delete forms in TurboTax Online?