All Posts

If you made improvements after the property was no longer a Rental, before selling, don't add those as a depreciable asset in the Rental section.  They can be added to the remaining undepreciated Cost Basis or included in Cost of Sale.     After reporting the 'date you stopped renting' in the Rental section, you'll report the sale as a Sale of Business Property under Business Items in the Income section. In that section you can enter your adjusted Cost Basis and Cost of Sale amounts. You'll also need to enter the amount of Depreciation Taken.   @user17729139211       

En réponse à TurboimpôtLiseD qui rappelle qu'un correctif sera déployé le 17 mars pour corriger le problème de courriel, je m'attends aussi que le problème du formulaire TP-726.7 et ceux relatifs aux formulaires de revenus d'entreprise soient solutionnés en même temps. Il est totalement anormal que nous ayons ces problèmes en date d'aujourd'hui. La version finale logiciel devrait être prête depuis la fin février.   Je veux aussi mentionner que la procédure d'annulation du formulaire TP-726.7 proposée par certains intervenants de Turboimpôt doit être faite avec prudence. Ce formulaire liste aussi les pertes en capital des années précédentes reportées dans le futur. Il ne faut pas perdre ces informations car ces pertes sont reportables à l'infini! Pour ma part, je ne procède pas à l'annulation. Turboimpôt doit donc corriger ce problème et j'exige la correction pour le 17 mars. Nous avons assez attendu!!   Sylbel             Sylbel

Yes, you have to add it to your tax return for sure.   But you can get a copy of the 1099-G or if you know the amount, you can enter it without the 1099-G.   It gets entered in the Unemployment Income section >  make sure you use the correct entry spot, there are several 1099-G entry places in the income section.       How do I report unemployment if I didn't get a 1099-G?   The link above has contact links to each state's unemployment office.  

Ok  I have TT 2025 Desktop Standard working on Windows 10.   I installed TT 2025.   Then i uninstalled and fully reinstalled both the X86 and X64 versions of C++ either of the ones below work: https://learn.microsoft.com/en-us/answers/questions/3847666/looking-for-visual-c-2015-2022-redistributable-14   OR   Latest:  https://learn.microsoft.com/en-us/cpp/windows/latest-supported-vc-redist?view=msvc-170   You need both the X86 and X64.   Because this works, tells me something in the install corrupts the two drivers above.   Then it worked.  I did notice it is not network drive smart any more, sadly, except when importing.  On the open I have to manually go to the network drives.   I have not tried to netfile yet.   That is the next test. Hopefully it helps others on Windows 10 PRO (that is what I run)  

Were these 1099-R forms to report a conversion of a traditional IRA conversion made in 2025 for your 2024 non-deductible traditional IRA contribution?  If so, you would have had a Form 8606 filed in 2024 to report this contribution as non-deductible and you would have a basis in that IRA of the amount of that contribution.  When you enter the 1099-R in TurboTax, you will go through screens after entering the 1099-R data in your return to get to a screen with a heading of Traditional IRAs asking if you had nondeductible IRA contributions to your traditional IRA from 2024 or prior years?  You would answer that question yes.  On the next screen it will ask you for the basis in that IRA, which would be found on your 2024 Form 8606 on Line 14 in Part I - should be $7000.  Enter the amount of your non-deductible contribution from 2024 in that box, then Continue.  Once you do that for both of your 1099-R forms for each of you, then 1040 line 4a will be $14,000 and line 4b will be 0.   Also go back in Deductions and Credits where you entered your 2025 traditional IRA contributions and enter $7,000 for the total basis as of December 31, 2024 in that area also.   Since you made 2025 non-deductible contributions, remember that you will have a 2025 Form 8606 that shows a $7,000 non-deductible traditional IRA contribution for each.  These can be converted as a Backdoor Roth this year and reported on your 2026 taxes.

Enter Form 1098 for a rental property under the Rental Expenses of the Rental Property for Schedule E. The interest on this mortgage is not subject to the interest deduction limitations that exist for Schedule A mortgage interest.

You cannot share CPP using TurboTax or any other tax program. CPP is shared by applying online at My Service Canada Account or completing Form ISP1002, Application for CPP Pension Sharing. Here is the link with full details https://www.canada.ca/en/services/benefits/publicpensions/cpp/share-cpp.html  

Expense vs asset.  Assets: A rental house is depreciated over 27.5 years. Appliances are 5 years. Are you saying depreciation isn't showing when it should for all items or just the new assets you are entering? Expenses like insurance and repairs are not depreciated, they are written off in full.   Be sure you are selecting asset to add items for depreciation. 

@itsme1 Ahhh...Yes, that will do it.  An over-ride of a calculated field on a tax form/schedule/worksheet will negate the ability of e-filing any of the tax returns and it will also void the TurboTax 100% Accurate Calculation Guarantee

I called Merrill and they claim it's a TurboTax issue.  They changed their interface this year vs prior year and is creating chronic issues with the ML website.  Turbotax is supposed to apply a patch but it hasn't happened.  Its kind of ridiculous the old way has worked forever and they now changed it!

Okay, I picked up a new update for the desktop software (Turbotax Deluxe 2025) this afternoon. Part of the issue is fixed, but not all of it. It will now take "Average Share Price" as the valuation method and propagate that into Form 8283 Part I Column i (method used to determine the fair market value). BUT... it still says the stock was "purchased" when I selected "inherited" on the forms pulldown. So I guess it's a partial fix to the problem, but not for those of us entering inherited shares. C'mon, TT, you can do it! Fix Column f (how acquired by donor), too!

Dans TurboImpôt Bureau: cliquez PROVINCIAL dans le menu de gauhce. Cliquez Profil des crédits du Québec. Sur cette page, cochez Crédit d'impôt pour maintien à domicile des aînés.      Cliquez sur CONTINUER et répondez aux questions à partir de la prochaine page.    Merci de choisir TurboImpôt

Yes I do, but why would Box 5 classify that as non passive? Thanks again.  Here's another problem if you have time.  On the bottom of my Wisconsin Forms in the Forms section.  I have the estate activities worsheet,  but nothing is filled out except for the name of the estate.  Am I to fill that out manually?