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10 hours ago
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@bethsol_2000 If you are itemizing deductions you potentially can get a charitable contribution deduction.
You may be able to deduct some expenses of having a student live with you. You can deduct...
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@bethsol_2000 If you are itemizing deductions you potentially can get a charitable contribution deduction.
You may be able to deduct some expenses of having a student live with you. You can deduct qualifying expenses for a foreign or American student who: 1. Lives in your home under a written agreement between you and a qualified organization as part of a program of the organization to provide educational opportunities for the student, 2. Isn’t your relative or dependent, and 3. Is a full-time student in the 12th or any lower grade at a school in the United States.
Tip: You can deduct up to $50 a month for each full calendar month the student lives with you. Any month when conditions (1) through (3) are met for 15 or more days counts as a full month.
For Further details and definitions see IRS Publication 526 link IRS PUBLICATION 526 pages 6-7.
10 hours ago
There is no Line "S" on a 1040 form. Are you referring to a Schedule or State form or ? Please explain further.
10 hours ago
Let me clarify, I did not have to pay back $9263. That is the amount I essentially paid for 2025's marketplace premiums. I still paid premiums during the year that amounted to $3500, then had to pay...
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Let me clarify, I did not have to pay back $9263. That is the amount I essentially paid for 2025's marketplace premiums. I still paid premiums during the year that amounted to $3500, then had to payback some of the subsidy because of inherited money counting as income, I have to pay back $5747. So I paid $9263 in marketplace premiums for the year if you add what was already paid by me plus the part of the subsidy I have to pay back on my 2025 Federal return. That should all be deductible, under the self employed health ins deduction. We also paid January 2026's premium of $2069 in December 2025 so I am claiming that as an expense for my self employed business. Form 7206 shows the $2069 on line 1 and line 14. Line 14 says that number should be on Schedule 1 line 17 and it is not. I am trying to figure out how to adjust schedule 1 line 17 and what that number should be. I think it should be $9263 + $2069 = $11333. I dont know what is generating the number on Schedule 1 line 17, I can not adjust it even if I needed to, that number is a calculation I am trying to figure out. At the bottom of Schedule C their is a Allocable Deductions Smart Worksheet. Line A , I changed to $11332, I am not sure if I should have done that. Thank you in advance for your help.
10 hours ago
TurboTax never tells you that your tax refund was "approved." You receive an email that tells you if the return was "accepted." "Accepted" and "approved" are not the same thing.
TurboTax get...
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TurboTax never tells you that your tax refund was "approved." You receive an email that tells you if the return was "accepted." "Accepted" and "approved" are not the same thing.
TurboTax gets no information from the IRS or your state after you file your tax return, so no one at TT knows what the state is changing on your state return. Only the state can explain it to you.
If you do not understand the letter from the state:
TurboTax does not receive any information from the IRS or your state after your return was filed, so no one at TurboTax knows about a letter you received from the IRS or the state.
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-audit/turbotax-audit-support/L6AcMoNFD_US_en_US?uid=m5z7by9u
https://intuit.taxaudit.com/audit-defense/help/contact
https://ttlc.intuit.com/turbotax-support/en-us/help-article/internal-revenue-service/got-cp2000-notice-irs/L7Da6em2t_US_en_US?uid=m4of6ngd
10 hours ago
In Schedule AI on Form 2210, you enter your adjusted gross income (line 1) and itemized deductions (line 4) for each period.
Are you saying that TurboTax mis-entered one of your inputs, or that...
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In Schedule AI on Form 2210, you enter your adjusted gross income (line 1) and itemized deductions (line 4) for each period.
Are you saying that TurboTax mis-entered one of your inputs, or that it made a calculation error on the form?
If so, on which lines?
10 hours ago
After completing our joint return and filing, I forgot to apply any discount code. Is there a way to do this retroactively?
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10 hours ago
I was not able to schedule an apt with an expert due to IT issues.
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10 hours ago
Thank you. I am bit confused still. For a real estate transaction, do I need to enter sale price or net profit (sale price - buy price - improvements - commissions)?
10 hours ago
For your wife's 1099-R, go back in and edit that 1099-R. When you click Continue on the page Enter your 1099-R details from [custodian name], you get a screen Do any of these situations apply to you...
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For your wife's 1099-R, go back in and edit that 1099-R. When you click Continue on the page Enter your 1099-R details from [custodian name], you get a screen Do any of these situations apply to you? . If "I inherited this IRA" is checked, click a different category or "None of these apply", then Continue.
As for the Canadian Pension, you can click on the Personal Income tab(on TurboTax Desktop) or Income on the left side menu (for TurboTax online) to escape the question asking about the custodian of the Canadian pension.
10 hours ago
you need to check. It may be that it's missing rather than zero. It's unlikely that the premiunm for SLCSP would be zero.
https://www.healthcare.gov/tax-tool/#/
10 hours ago
I did. All three agents I spoke to referred me back to Turbo Tax. They said the problem is with Turbo not Quickbook. My book keeping is clean and ready, but the option to file tax on Quickbook takes ...
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I did. All three agents I spoke to referred me back to Turbo Tax. They said the problem is with Turbo not Quickbook. My book keeping is clean and ready, but the option to file tax on Quickbook takes me back to Turbo Tax live and none of my expenses are transferred or mapped. I have been trying to figure this out since last month, but looks like no body has an answer.
10 hours ago
I turned 73 in 2024 and took my distribution in 2025 before Apr 1st. I also took my distribution in 2025 and paid taxes before Apr 1st. Basically same time I did the 2024 distribution. Do I put...
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I turned 73 in 2024 and took my distribution in 2025 before Apr 1st. I also took my distribution in 2025 and paid taxes before Apr 1st. Basically same time I did the 2024 distribution. Do I put in the combined total amount distributed in 2025 as stated on 1099 (by the way is the total for 2024 and 2025) or do I just put in 2025 amount. If I do what happens to the taxes I over paid for 2024 that is included in the federal tax paid of the 1099 ( which includes 2024 and 2025 amounts combine)
10 hours ago
The IRS (and TurboTax) actually treats boats with sleeping, cooking, and toilet facilities very similarly to a vacation house.
Because you used the boat for personal reasons for more than 14 da...
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The IRS (and TurboTax) actually treats boats with sleeping, cooking, and toilet facilities very similarly to a vacation house.
Because you used the boat for personal reasons for more than 14 days (and more than 10% of the rental days), the IRS considers this a "dwelling unit used as a home." You cannot simply deduct 50% of everything.
You must divide expenses into two categories (for a dual-use residence):
Direct Rental Expenses: Expenses that only apply to the rental (e.g., a commission paid to a charter agent or extra insurance for the rental period). These are 100% deductible against rental income.
Allocated Indirect Expenses: These are your "50/50" expenses (maintenance, slip fees, cleaning, fuel, etc.). You can only deduct these expenses up to the amount of rental income you earned (the "Hobby Loss" Limit);.
You must deduct interest and taxes first, then operating expenses, then depreciation (only until your rental income hits zero);.
Most boat owners should use Schedule E ("passive" rental activity)... you provide the boat and basic services (e.g., cleaning between rentals, maintenance). There is no self-employment tax.
Divide your shared expenses (maintenance, dockage) by the total days of use to find the rental portion, but don't expect to claim a net loss on your 1040.
You should use Schedule C (Profit or Loss from Business)... if you run a "charter business" or "hotel on water" (e.g. you provide substantial services primarily for the guest's convenience -- you act as the captain/crew, provide meals, or offer daily maid service).
You might be able to deduct a loss against your other income (if you "materially participate"), but you must pay the 15.3% self-employment tax on your profits.
10 hours ago
Terrible. I filed with bbb also.
10 hours ago
Enter Social Security Income (SSA-1099): Open or continue your return. Under Federal tab, Click on Wages & Income, and then Scroll down to Retirement Plans and Social Security. Click Start/Update...
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Enter Social Security Income (SSA-1099): Open or continue your return. Under Federal tab, Click on Wages & Income, and then Scroll down to Retirement Plans and Social Security. Click Start/Update next to Social Security (SSA-1099, RRB-1099). Answer YES to the question "Did you receive Social Security or Railroad Retirement benefits?" and follow the prompts to enter your amounts. If you and your spouse both have forms, you'll enter them on separate screens during this interview. You can also search for "SSA-1099" (Search Bar/Box), and then Click on the "Jump to...." link that appears.
10 hours ago
I performed a RMD for an inherited IRA in early 2026. I did not receive form 1099-R because the withdrawal did not take place in 2025. I need to enter form 5329 using the online version but can't f...
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I performed a RMD for an inherited IRA in early 2026. I did not receive form 1099-R because the withdrawal did not take place in 2025. I need to enter form 5329 using the online version but can't find that option. It appears that the form for entering the information is triggered by the entry on a 1099-R. Is there a way to enter the information, or upload the form?
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10 hours ago
You can only claim a tuition credit for yourself, your spouse or your dependent.
10 hours ago
@DaveF1006 not if they're paid 1.5 for overtime. Base $10/hour Overtime $5/hour. Total $15/hour. so overtine pay is only 1/3 not 1/2
10 hours ago
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