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12 hours ago
Hello - I'm a little confused how TT (Deluxe desktop) handles the sales tax deduction. I've included some screen shots to help with my questions. I am given the option to deduct either state and lo...
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Hello - I'm a little confused how TT (Deluxe desktop) handles the sales tax deduction. I've included some screen shots to help with my questions. I am given the option to deduct either state and local income taxes OR the sales tax I paid during the year--but not both. As you can see in picture, I selected "the larger deduction (Recommended" option which appears to be the state and local income tax deduction ($9,220). When I get to the summary page (picture attached), I see the Sales Tax amount of $885. Is TT using the sales tax of $885 instead of the state and local income tax deduction of $9,220?
12 hours ago
When you are in the vehicle section you can select that the car as been removed from service ('This item was sold……. ') then do not enter a sale date, instead indicate it was removed from service con...
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When you are in the vehicle section you can select that the car as been removed from service ('This item was sold……. ') then do not enter a sale date, instead indicate it was removed from service converted to personal use. Enter the date of conversion and TurboTax will calculate some depreciation (if you used that on this vehicle) or a standard mileage rate for 2025 for the period of use).
12 hours ago
What is your question?
12 hours ago
So, just to make sure I understand, if I claim the home office expense, I can not operate my side business at a loss, correct?
12 hours ago
Was the refund amount entered on the Form 1040-X on Line 18? If so, is the amount owed on Line 20 correct?
Look at your Form 1040-X -
Click on Tax Tools on the left side of the online progra...
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Was the refund amount entered on the Form 1040-X on Line 18? If so, is the amount owed on Line 20 correct?
Look at your Form 1040-X -
Click on Tax Tools on the left side of the online program screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.
12 hours ago
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12 hours ago
Waste of time
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12 hours ago
We incurred substantial unreimbursed damage to our home in 2023/4 from Hurricane Helene. We took a casualty loss for the cost of the repairs less any reimbursement. My question is these items are a...
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We incurred substantial unreimbursed damage to our home in 2023/4 from Hurricane Helene. We took a casualty loss for the cost of the repairs less any reimbursement. My question is these items are additions to the value of our home that we paid for. So, when I am tracking the cost of our home and additions, do I add those items to the cost for consideration value if/when we sell the home or do I just note the additions made and not increase the cost for those items? We purchased a new roof, gutters and a back door.
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12 hours ago
How did you go into "Sch A and manually entered a zero into Sch A, line 7 "? I don't know how to get into a tax form and manually change a number and have other forms change calculation automatically...
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How did you go into "Sch A and manually entered a zero into Sch A, line 7 "? I don't know how to get into a tax form and manually change a number and have other forms change calculation automatically. I am paying for the DIY version. Do I need to pay for the full service version to get that capability? Really need this as 4/15 is getting close. Thanks!!
12 hours ago
It depends. If you no longer operate your business then the only thing to do is to remove the Schedule C. If you were an actively seeking business income then you can enter your expenses you had to ...
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It depends. If you no longer operate your business then the only thing to do is to remove the Schedule C. If you were an actively seeking business income then you can enter your expenses you had to achieve this, under the Schedule C.
If you are using TurboTax Desktop or TurboTax Online you can use the steps below:
Search function in the upper right and type Schedule C. Click on the Jump to.. link
This will bring you to the screen 'Here's the business info we have so far'.
Select Edit beside your business and then scroll to Business Expenses, Assets, etc. to begin your entry.
How do I report self employment income?
Where do I enter my self employment business expenses
Note: You can decide if it is hobby or business income. This IRS link will help you: Business or Hobby?
Key elements:
A hobby requires you to report the income you received and under the current tax law, Tax Cuts and Jobs Act (TCJA), no expenses are allowed to be used to reduce the money collected even if you itemize deductions.
A business allows you to deduct the costs necessary to obtain the income. The law explains that 'you must be engaged in the activity to produce a profit'. The test under IRS tax law is that you must show a profit three out of every five consecutive years to be considered a business.
12 hours ago
How do you e-file an extension for Missouri?
12 hours ago
To enter, edit or delete estimated taxes paid (Federal, State, Local) -
Click on Federal Taxes (Personal using Home and Business) Click on Deductions and Credits Click on I'll choose what I work ...
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To enter, edit or delete estimated taxes paid (Federal, State, Local) -
Click on Federal Taxes (Personal using Home and Business) Click on Deductions and Credits Click on I'll choose what I work on (if shown) Scroll down to Estimates and Other Taxes Paid On Estimated Tax Payments, click on the start or update button
On Federal estimated taxes for 2025 (Form 1040-ES), click the start button
Federal estimated taxes paid are entered on Form 1040 Line 26
12 hours ago
En Massachusetts, es posible pagar impuestos estatales mediante un acuerdo de pago con el estado. Para ello, puedes usar el portal en línea MassTaxConnect que permite realizar pagos electrónicos de i...
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En Massachusetts, es posible pagar impuestos estatales mediante un acuerdo de pago con el estado. Para ello, puedes usar el portal en línea MassTaxConnect que permite realizar pagos electrónicos de impuestos. También es importante saber que el acuerdo es para facilitar el pago del impuesto adeudado y no extiende el plazo para presentar la declaración o evitar multas si no se cumple con los pagos acordados. Si estás en TurboTax, puedes utilizarlo para preparar tu declaración y luego realizar el pago a través del sistema mencionado o mediante el enlace dedicado que te facilita el proceso.
12 hours ago
Thank you. I did 'stumble' across the Multiple States option. It made sense for me, so that's what I went with. Thanks again.
12 hours ago
Yes, psychiatric care can qualify as an Impairment-Related Work Expense (IRWE) if it is "ordinary and necessary" for you to perform your job. While most employee expense deductions were suspended by ...
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Yes, psychiatric care can qualify as an Impairment-Related Work Expense (IRWE) if it is "ordinary and necessary" for you to perform your job. While most employee expense deductions were suspended by the Tax Cuts and Jobs Act through 2025, disabled employees remain a specific exception. To enter in TurboTax Online: Go to Federal > Deductions & Credits. Under Employment Expenses, Start or revisit Job Expenses for W2 Income. Enter the "Tell us about the occupation you have expenses for" Indicate on the "Does your work involve any of these professions or situations?" that I’m disabled and have impairment-related expenses
12 hours ago
I paid 2025 Estimated taxes using Form 1040-ES Payment Vouchers. I can't add to my federal tax return.
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12 hours ago
Missouri
12 hours ago
I live in Michigan (full-time) and have W-2 wages in Michigan. My spouse lives in Michigan (full-time) and has W-2 wages in Ohio. Her Ohio wages are taxed in Michigan. We are filing jointly for 20...
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I live in Michigan (full-time) and have W-2 wages in Michigan. My spouse lives in Michigan (full-time) and has W-2 wages in Ohio. Her Ohio wages are taxed in Michigan. We are filing jointly for 2025. Why are my W-2 wages and retirement income included in the income for Ohio state taxes?
13 hours ago
The amendment was to add a 1099R
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13 hours ago
@xiongb1 It is called Payment Processor Fee when using a debit/credit card. The fee goes to the payment processor not TurboTax.
Even paying by debit/credit card on the IRS website, there are Payme...
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@xiongb1 It is called Payment Processor Fee when using a debit/credit card. The fee goes to the payment processor not TurboTax.
Even paying by debit/credit card on the IRS website, there are Payment Processor Fees - https://www.irs.gov/payments/pay-your-taxes-by-debit-or-credit-card