All Posts

Your loss deduction is most probably phased out by your MAGI.   Taxpayers who actively participate in a passive rental activity and whose modified adjusted gross income, or MAGI, is less than $100,000 can claim up to $25,000 in rental losses. The $25,000 cap is reduced $1 for every $2 a taxpayer's MAGI exceeds $100,000. For example, a MAGI of $110,000 exceeds $100,000 by $10,000 so the $25,000 limit is reduced to $20,000. The deduction of passive losses is completely phased out at $150,000 of MAGI. These limits apply to both those filing single or married filing jointly.    See this IRS document for more information.

To access your tax returns (current or prior year) you will sign into the TurboTax website with the user ID you used to create the account - https://myturbotax.intuit.com/   Scroll down to the bottom of the screen and on the section Your tax returns & documents click on Show.  Click on the Year and Click on Download/print return (PDF)   As an alternative for current year return, when you sign onto your online account and land on the Tax Home web page, scroll down and click on Add a State (You will not really be adding a state).    This will take you back in to the 2025 online tax return.   Click on Tax Tools on the left side of the online program screen.  Find the Print Center and choose the year you want to print.  If you want your full return including worksheets, choose the option Include government and TurboTax worksheets.   In TurboTax Online, follow these steps to print/view your return and all of the informational worksheets after you have filed:   Sign in to TurboTax Scroll down to Your Tax Returns & Documents Select 2024 and then Add a State (You aren't actually adding a State but this gets you back into the Print Center) From the left panel Select Tax Tools, scroll down a little and select Print Center Select Print, save or preview this year's return Select the 2024 Federal and/or State return box Choose to Include TurboTax and government worksheets Select View or Print Forms

OR does not allow the QBI but it does have an alternative. The Qualified Business Income Reduced Tax Rate. Instead of a deduction from income, this allows certain business owners to pay a lower tax rate - if you meet the requirements.   Reference for the requirements of each type of business return: Qualified business income reduced tax rate (QBIRTR)

@SHMbak Absolutely a horrific problem importing for (1) people that were doing secondary imports from the same brokerage (i.e., the 1099-INT might have been available early, then a 1099-DIV or 1099-B later, and (2) people that had multiple accounts at the same brokerage.  The problem was for many if not all brokers, they would get a popup along the lines of "We see you have already imported from this financial institution.  Please click on 'Delete Old Data' to continue with your import, or click on 'Cancel' to cancel the import."   As you can imagine, it is very typical for joint filers to have individual accounts at the same brokerage.  So not being able to do two imports at that brokerage imposed a severe limitation on use of the software.  As you noted, some users 1099-Bs have hundreds of transactions (and some might have over a thousand -- the limit is 10,000 per import.   Check out this thread if you want a deep dive into the issue, which seems to be resolved for some but not others -- I think the fix is brokerage-specific:   https://ttlc.intuit.com/community/taxes/discussion/import-from-financial-institution-why-does-it-force-me-to-delete-old-data-when-importing-spouse-s/00/3732216  

Sounds like something got stuck. You can try these things:   Log Out Completely: Before doing anything else, click Sign Out in the TurboTax menu. Clear Cache and Cookies: This removes old, "corrupted" data that might be confusing the website. Use an Incognito (Private) Window: This is the most effective "quick fix" because it launches the browser without any saved history or extensions (like AdBlockers) that often interfere with tax forms. Check Pop-up Blockers: TurboTax often opens forms (like the 1099 PDF) or payment windows in a separate pop-up. Look at the right side of your address bar for a small icon with a "red X"—click it and select "Always allow pop-ups from Intuit." Restart the Browser: Close all open windows of your browser entirely and then reopen it.   Most TurboTax errors happen because the browser is trying to use an old "session" from a previous visit. By clearing the cache or using Incognito mode, you force the browser to establish a brand-new, secure connection with the Intuit servers.

You may qualify for either $500,000 or $250,000, based on who lived in the home as a primary residence. The IRS looks at how the home was used, not just who owns it or your marital status. Since you and your spouse are separated but still filing jointly, the main thing to check is whether both of you meet the use test for the home that was sold. Here are some things to consider.   The IRS explains that for a joint return, either spouse may meet the ownership test, but both must meet the use test individually to qualify for the full $500,000 exclusion.  if only one spouse meets the use test, the couple filing jointly may exclude only that spouse’s $250,000 limit.    IRS Topic no. 701, Sale of your home    

Did you pay them with a W2 or a 1099NEC?  Do you need to prepare the W2s or 1099s to give them to your people?     For W2, If Employee Expenses doesn't show up in the list you need to go back to the Business Profile section and click Edit by Has Employees and change it to yes.   For 1099NEC that is Contract Labor on Schedule C line 11.     Where to enter business expenses https://ttlc.intuit.com/community/entering-importing/help/where-do-i-enter-my-self-employment-business-expenses-like-home-office-vehicle-mileage-and-supplies/01/27109

Special Allocations are not supported in the online version of TurboTax Business due to the lack of access to forms. You would need to install TurboTax Business Desktop in order to specially allocate the loans from partners on Schedule L.    Special Allocations in TurboTax Business Desktop are set up under About Your Business with instructions under Partner/Member Information. First, confirm that "Makes Special Allocations" is listed as Yes under Business Info >> About Your Business. Go to Partner/Member Information and click Done at the bottom of the Member Summary page. Continue to the page "How to Enter Special Allocations" and click "See Demo" at the bottom. Follow the first example for Special Allocation by Amount to enter the specific liability amounts on the Schedule K-1 worksheet for each partner under Special Allocations By Amount Line A. (Skip the entry for Schedule K.) Go to the Partners' Liabilities Smart Worksheet under Schedule L of Form 1065 p4-5. Enter the SA code and the total Liabilities on Line D Recourse (beginning and ending columns). If your beginning and ending liability amounts are different, set up two SA codes in step 4, the first for beginning and the second for ending amounts. Then enter the correct SA codes on the Smart Worksheet in Step 6. To confirm the allocations, review Section K on each Schedule K-1.

 TurboTax never knows about offsets to your refund.   The IRS (or your state) does not share any information with TT after you file your tax return, so no one at TT knows if you owed back taxes or child support.   You will receive a letter about the offset in several weeks.   NOTE: You can contact the IRS Treasury Offset Program Call Center at 1-800-304-3107 to ask if they have an offset for you on file. TurboTax would not have that information.   https://turbotax.intuit.com/tax-tips/tax-payments/who-can-garnish-an-income-tax-refund/L7cPPzDyc     TurboTax does not receive feedback from the IRS regarding money that was offset from your refund.  If you owed back taxes or child support, you will receive a letter of explanation from the IRS in several weeks.  The WMR site will contain a message regarding your offset.  It is also possible that the IRS caught a mistake you made and reduced your refund.   @robertishmell5

You can't do anything at the moment, and TurboTax has no control over the situation.   If a refund is not deposited to a bank, it goes back to the IRS.   It's the IRS that issues the paper checks, and  It will be mailed to the address listed on your tax return. You can check the IRS website Where's My Refund    You'll need Your Social Security or individual taxpayer ID number (ITIN) Your filing status The exact refund amount on your return

Once your return is filed, TurboTax has no control over the processing or the timing when the IRS releases your refund.    Your refund could be offset. The IRS and State Governments have the ability to offset a refund to pay for certain past due debts.  You generally will receive a letter stating what the offset was for.    The IRS provides a toll-free number, (800) 304-3107, to call for information about tax offsets.   Here are a few FAQs to help you track your refund: When will I get my federal tax refund? How do I track my state refund? Why does Where's My Refund say "approved" but TurboTax still says "accepted"? Why do some refunds take longer than others? What if my IRS refund is taking longer than 21 days?