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yesterday
Received an IRS letter saying I owe taxes for tax year 2024 on form 1040. I upload all of my files to Turbo Tax from my Fidelity accounts so I don't know how Turbo Tax missed this Dividend and intere...
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Received an IRS letter saying I owe taxes for tax year 2024 on form 1040. I upload all of my files to Turbo Tax from my Fidelity accounts so I don't know how Turbo Tax missed this Dividend and interest paper work. The tax bill is $264 with interest. Is Turbo Tax responsible for this as I depended on your software to do accurate taxes? Thanks,
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yesterday
To check the IRS Refund Tracker, click here.
yesterday
how do I go bac to Federal deductions and credit
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yesterday
You can update the capital loss carryover amounts in the 2025 return. Where do I enter a capital gain or loss?
yesterday
1 Cheer
Federal and state refunds come from completely separate entities. There is no rule as to which one will come in first or how long it will be between their arrival in your account.
TurboTax giv...
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Federal and state refunds come from completely separate entities. There is no rule as to which one will come in first or how long it will be between their arrival in your account.
TurboTax gives you an estimated date for receiving your refund based on a 21 day average from your date of acceptance, but it can take longer. “21 days” is not a promise from TurboTax or the IRS.
First, check your e-file status to see if your return was accepted:
https://turbotax.intuit.com/tax-tools/efile-status-lookup/
Once your federal return has been accepted by the IRS, only the IRS has any control. TurboTax does not receive any updates from the IRS. Your ONLY source of information about your refund now is the IRS.
You need your filing status, your Social Security number and the exact amount (line 35a of your 2025 Form 1040) of your federal refund to track your Federal refund:
https://www.irs.gov/refunds
To track your state refund:
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_US_en_US?uid=lt447ebr
If you chose to have your TurboTax fees deducted from your federal refund, that will take some extra time, while the third party bank handles the refund processing
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/refunds-take-longer-others/L14YlqFrH_US_en_US?uid=lexdr7zh
.
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/irs-refund-taking-longer-21-days/L2vRAJbdU_US_en_US?uid=lexe7lst
If you are getting earned income credit on line 27 or additional child tax credit on line 28 You are subject to the delay required by the PATH act. Do not expect your refund before early March
https://ttlc.intuit.com/turbotax-support/en-us/help-article/internal-revenue-service/federal-refunds-delayed-due-path-act/L5jnQJsBi_US_en_US
Note: “Accepted” is not the same as “approved”. TurboTax tells you the e-file was accepted if the IRS deems that there is enough information on the return for them to take it in for processing. Only the IRS can approve of the refund, which is a later stage of processing. If the IRS approves your refund they will provide a date for the refund to be issued.
FROM THE IRS WHERE’S MY REFUND SITE:
https://www.irs.gov/wheres-my-refund
How it works
Where's My Refund shows your refund status:
Return Received – We received your return and are processing it.
Refund Approved – We approved your refund and are preparing to issue it by the date shown.
Refund Sent – We sent the refund to your bank or to you in the mail. It may take 5 days for it to show in your bank account or several weeks for your check to arrive in the mail.
yesterday
This is a public web site that can be seen by anyone—including scammers and would-be identity thieves who would love to contact you and pretend to be from TurboTax. Please remove the personal inform...
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This is a public web site that can be seen by anyone—including scammers and would-be identity thieves who would love to contact you and pretend to be from TurboTax. Please remove the personal information you posted here ASAP by returning to your post and clicking the three little blue dots on the upper right to edit your post.
What you apparently did not understand is that the tax software only passes your payment information on to the IRS and state----TurboTax does not extract the payments for your tax due. It is up to the IRS and your state to pull out those payments. Since you e-filed on time, your payments are on time even if it takes the IRS and state a week or two to pull out the payments from your account.
yesterday
Did you transfer your 2024 Amended Return to 2025? If not, you can try that, or enter the correct Capital Loss Carryover amount in the interview. under Income > Investment Income > Capital Loss Carr...
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Did you transfer your 2024 Amended Return to 2025? If not, you can try that, or enter the correct Capital Loss Carryover amount in the interview. under Income > Investment Income > Capital Loss Carryover.
@handypfb
yesterday
We received our state return but federal nothing has happened for two months, why?
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yesterday
so whats probably wrong with your entries if your Real Estate losses do not reduce your capital gains?
yesterday
I completed by TurboTax returns (order [PII removed]) on 12th April. I oped for efiling and completed the information necessary to remit the required payments to the IRS and California Franchise Tax...
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I completed by TurboTax returns (order [PII removed]) on 12th April. I oped for efiling and completed the information necessary to remit the required payments to the IRS and California Franchise Tax Board. When I checked my Wells Fargo account on the 15th, the required California payment was debited, but the federal payment had not been. When it was late in the day and the federal payment had still not been debited I tried to check the status on your site using your AI help. That referred me to JustAnswer or something which asked for a $5 payment (credit card information required) which would be refunded. I carried on a chat conversation with someone purporting to be an accountant who was of absolutely no help. Later in the evening our credit card was charged $65 for a total lack of service and contrary to the refundable $5 charge claim.
Because I did not want my payment to be delinquent, I made a debit card payment of the required amount.
I believe TurboTax owes me a refund of whatever charges are made for facilitating efiling and epayment.
I have used TurboTax for 20+ years and have always been pleased with it. This year I am anything but.
Sincerely,
Thomas [PII removed]
yesterday
The cost of improvements is not deductible. Improvements add to the cost basis of the home and may reduce your capital gains when you sell.
If you take out a loan to pay for improvements, the ...
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The cost of improvements is not deductible. Improvements add to the cost basis of the home and may reduce your capital gains when you sell.
If you take out a loan to pay for improvements, the interest is deductible only if the loan is secured by the home. That means the loan is recorded as a lien against the home with the county records office and the lender could foreclose if you stopped making payments. Since a loan from a 401k is not secured by the home, any interest is not deductible.
You can deduct interest on a loan you take out to improve rental property as a rental expense. However, there is a timing issue because you can't deduct rental expenses until the property is placed in service. That means ready to rent and advertised so that it could be occupied. If you needed to make improvements, the property probably wasn't really "in service" so the interest is not a deductible business expense. You can still include the cost of improvements in your basis, which will give you a larger deduction for depreciation. And even if you could deduct interest on a general bank loan used for improvements to the rental property, you can't deduct the interest from a 401k loan, since the interest is being paid to yourself.
yesterday
From 8k to 110k - that sounds like it is missing cost basis or opted out of the installment sale. It has to be in the 4797 / 6252 connection.
Go to "Tax Tools" (left sidebar) > "Tools" > "De...
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From 8k to 110k - that sounds like it is missing cost basis or opted out of the installment sale. It has to be in the 4797 / 6252 connection.
Go to "Tax Tools" (left sidebar) > "Tools" > "Delete a Form."
Delete in this specific order:
Form 6252 (Installment Sale)
Form 4797 (Sales of Business Property)
Asset Entry Worksheet (specifically for the drainage tile/farmland)
Any "Sale of Business Property" Worksheets.
Log out of your return and try one or more of the following:
Don't use Internet Explorer.
Clear cache and cookies,
Sign in using a different browser.
Sign in using a different device.
Log back into your return.
Enter the information again.
Good luck!
yesterday
"5 days early" means you are supposed to receive your federal refund from one to five days sooner than the refund date shown on the IRS refund site. If it does not meet that "at least one day soone...
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"5 days early" means you are supposed to receive your federal refund from one to five days sooner than the refund date shown on the IRS refund site. If it does not meet that "at least one day sooner" date, they are supposed to refund the $35 fee.
You have to pay attention to the date on the IRS refund site.
You need your filing status, your Social Security number and the exact amount (line 35a of your 2025 Form 1040) of your federal refund to track your Federal refund:
https://www.irs.gov/refunds
Federal and state refunds come from completely separate entities. There is no rule as to which one will come in first or how long it will be between their arrival in your account.
TurboTax gives you an estimated date for receiving your refund based on a 21 day average from your date of acceptance, but it can take longer. “21 days” is not a promise from TurboTax or the IRS.
First, check your e-file status to see if your return was accepted:
https://turbotax.intuit.com/tax-tools/efile-status-lookup/
Once your federal return has been accepted by the IRS, only the IRS has any control. TurboTax does not receive any updates from the IRS. Your ONLY source of information about your refund now is the IRS.
You need your filing status, your Social Security number and the exact amount (line 35a of your 2025 Form 1040) of your federal refund to track your Federal refund:
https://www.irs.gov/refunds
To track your state refund:
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_US_en_US?uid=lt447ebr
If you chose to have your TurboTax fees deducted from your federal refund, that will take some extra time, while the third party bank handles the refund processing
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/refunds-take-longer-others/L14YlqFrH_US_en_US?uid=lexdr7zh
.
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/irs-refund-taking-longer-21-days/L2vRAJbdU_US_en_US?uid=lexe7lst
If you are getting earned income credit on line 27 or additional child tax credit on line 28 You are subject to the delay required by the PATH act. Do not expect your refund before early March
https://ttlc.intuit.com/turbotax-support/en-us/help-article/internal-revenue-service/federal-refunds-delayed-due-path-act/L5jnQJsBi_US_en_US
Note: “Accepted” is not the same as “approved”. TurboTax tells you the e-file was accepted if the IRS deems that there is enough information on the return for them to take it in for processing. Only the IRS can approve of the refund, which is a later stage of processing. If the IRS approves your refund they will provide a date for the refund to be issued.
FROM THE IRS WHERE’S MY REFUND SITE:
https://www.irs.gov/wheres-my-refund
How it works
Where's My Refund shows your refund status:
Return Received – We received your return and are processing it.
Refund Approved – We approved your refund and are preparing to issue it by the date shown.
Refund Sent – We sent the refund to your bank or to you in the mail. It may take 5 days for it to show in your bank account or several weeks for your check to arrive in the mail.
yesterday
When you Download a PDF copy of your return from the Home page, open it in Adobe Reader. The first page will be 'Filing Instructions' that gives the selected payment option you chose for filing.
...
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When you Download a PDF copy of your return from the Home page, open it in Adobe Reader. The first page will be 'Filing Instructions' that gives the selected payment option you chose for filing.
@feist
yesterday
@Bwana_Jones wrote: ....your knee-jerk responses have been consistently prosy, critical of folks asking honest questions, and largely unhelpful. Try harder. How's the one below (just recentl...
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@Bwana_Jones wrote: ....your knee-jerk responses have been consistently prosy, critical of folks asking honest questions, and largely unhelpful. Try harder. How's the one below (just recently posted as one of thousands)?: filing as real estate professional with 10 properties. my capital gains are not being reduced by my real estate losses. why? How many have you answered? Oh, none! Once again, you're useless. Time to run along.
yesterday
Is this for business? Because if this is a personal car, it doesn't matter unless you sold the car for more than you paid.
Selling expenses could include the cost of placing an ad on an app or...
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Is this for business? Because if this is a personal car, it doesn't matter unless you sold the car for more than you paid.
Selling expenses could include the cost of placing an ad on an app or web site, if you selected the paid option instead of a free option. If you agreed to pay for an inspection for the buyer, or if you paid for an appraisal, that would be another cost of selling. Detailing the car could be another cost. (However, repairs are not a cost of selling. You are expected to keep your property in good repair, and you don't get a tax benefit if you defer your repairs until you are trying to sell the car.)
yesterday
I even paid extra to receive 5 days early.Where is my refund?
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yesterday
I believe you, but something (too many attempts??) has moved you out of the normal processing loop. Maybe they are issuing you an IP PIN, or maybe they are in a sense, forcing you to set up the Onli...
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I believe you, but something (too many attempts??) has moved you out of the normal processing loop. Maybe they are issuing you an IP PIN, or maybe they are in a sense, forcing you to set up the Online Account. You have to have them verify your identity, but you will have full access to all of your information instantly once it is created.
yesterday
If the IRS continues to reject your return for the correct IP PIN (verified at their site) and you've manually entered it (without any extra spaces), if you're using TurboTax Online, I'd recommend cl...
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If the IRS continues to reject your return for the correct IP PIN (verified at their site) and you've manually entered it (without any extra spaces), if you're using TurboTax Online, I'd recommend closing the program, clear your Cache and Cookies, and re-open TurboTax in an 'incognito' browser window and try efiling again.
If you're still rejected for the IP PIN, call the IRS at 800-908-4490 (from the IP PIN site) or the main number 800-829-1040, or Contact TurboTax Support. This is definitely an IRS issue; we definitely don't want you to have to mail your return.
@turbotaxisterrible
yesterday
How do you get a 2024 figure to
transfer to 2025?
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