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Thursday
If your 1099-R box 2a has a specific, non-zero amount and "taxable amount not determined" is not checked, your annuity is likely 100% taxable, and you usually do not need to use the Simplified Method...
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If your 1099-R box 2a has a specific, non-zero amount and "taxable amount not determined" is not checked, your annuity is likely 100% taxable, and you usually do not need to use the Simplified Method. Enter the 1099-R as it appears.
IRS Topic no. 411, Pensions – The general rule and the simplified method
Refer to the TurboTax article Where do I enter my 1099-R? for more details.
Thursday
1 Cheer
And a lot of people will be unhappy when they find out at some point they will no longer be able to pay the IRS by check either--either for taxes due, quarterly estimated taxes, extension requests, e...
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And a lot of people will be unhappy when they find out at some point they will no longer be able to pay the IRS by check either--either for taxes due, quarterly estimated taxes, extension requests, etc. I don't know when the IRS plans to start phasing that in. I actually find it easier to pay electronically using the IRS website or inside my online IRS account. And safer (I hope) than sending a paper check, and then worrying about whether it was received, etc.
Thursday
Para ver el estado de envío de tu declaración en TurboTax Online en español, sigue estos pasos: 1. Accede a tu cuenta de TurboTax y abre tu declaración. 2. Ve a la pantalla llamada Inicio de impu...
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Para ver el estado de envío de tu declaración en TurboTax Online en español, sigue estos pasos: 1. Accede a tu cuenta de TurboTax y abre tu declaración. 2. Ve a la pantalla llamada Inicio de impuestos o Tax Home. 3. Ahí podrás ver el estado de tu presentación, que puede ser Pendiente, Aceptada o Rechazada. TurboTax también envía correos electrónicos con actualizaciones cuando cambia el estado de tu declaración. El IRS generalmente demora 24 a 48 horas en aceptar o rechazar declaraciones electrónicas. Si el estado está en Pendiente, espera la aceptación antes de hacer un seguimiento de tu reembolso.
Thursday
Once you establish an account with TurboTax, it can't be deleted but you can delete your data by using the Clear and Start Over function if you haven't paid for your return. Refer to the TurboTax art...
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Once you establish an account with TurboTax, it can't be deleted but you can delete your data by using the Clear and Start Over function if you haven't paid for your return. Refer to the TurboTax article How do I clear and start over?
Thursday
even with the correct routing and account numbers, it can take up to 5 days after the date you specified fr the actual withdrawal.
Thursday
@taxmodern has a good approach to address your tax question. However, if you rent your home for less than 15 days in the year, rental income from that short-term rental is generally not taxable and d...
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@taxmodern has a good approach to address your tax question. However, if you rent your home for less than 15 days in the year, rental income from that short-term rental is generally not taxable and doesn't have to be reported. This means you don't need to enter the 1099-K income related to this simple rental use in TurboTax as rental income. Property management companies sometimes use payment settlement entities to issue 1099-K forms even when your rental income doesn't meet the $20,000 or 200 transaction reporting threshold. Despite receiving such a form, IRS (Pub.527) clearly says you don't have to report rental income when it's from rentals under 15 days. You can also call the property management company to ask for a correction of the 1099-K. Tell them to look at this IRS link as the reason for the correction. @liberwatt
Thursday
Part of the frustration with this issue is that Taxpayers are only told they are receiving a letter. There is nothing to say when the letter was sent. There is nothing explaining what the letter is a...
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Part of the frustration with this issue is that Taxpayers are only told they are receiving a letter. There is nothing to say when the letter was sent. There is nothing explaining what the letter is about. The only thing Taxpayers know is that receipt of the letter is in 2-3 weeks, whatever that means. When 2-3 weeks had passed I phoned IRS and a very helpful Staffer checked, told me our letter was sent April 2. She informed me our QMINs were incomplete or missing which perplexed me at the time as I knew I included same, double- and triple-checked before filing. The letter, however, would appear to throw a Taxpayer in an endless loop. It says to send in a Form 5695 with QMINs. The Workaround is found in the IRS Publication "TY2025 Known Issues and Solutions". Please see my earlier post above with information excerpted from that publication.
Thursday
Hi, I feel your pain; however in the future we may not be able to request paper at all!!! If you feel this is unfair, I would suggest you voice your concerns to the IRS and your legislative body. ...
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Hi, I feel your pain; however in the future we may not be able to request paper at all!!! If you feel this is unfair, I would suggest you voice your concerns to the IRS and your legislative body. FYI, I have used my routing number and account number to receive and/or pay city, state, and federal governments, I hope this information helps.
Thursday
Yes, the IRS is probably correct. Your taxable social security will be calculated incorrectly if you indicate that you are a U.S. citizen living abroad in one of the countries listed. You can’t skip...
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Yes, the IRS is probably correct. Your taxable social security will be calculated incorrectly if you indicate that you are a U.S. citizen living abroad in one of the countries listed. You can’t skip this question. You must answer NO if you lived in the United States as xmasbaby0 indicated above.
There is no need to file an amendment as the IRS has made the adjustment on your return.
Thursday
The rules are the same so the questions are the same for US and foreign rental property. The major difference lies in the building's depreciable life.
Thursday
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 differe...
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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.
Thursday
Read my earlier post. It explains what to file. It appears to have worked as my IRS account info changed to show our filing is now being processed.
Thursday
if you e-filed in TurboTax Online, you'll see its status on the Tax Home screen of your account. We'll also send you emails letting you know when your e-file status changes.
Thursday
Thanks!
Thursday
you took the time to write that I should contact the members of Congress from 2010? how thoughtful
Thursday
Using all nines won't go through e-file, but using 99-0099999 will work for a foreign pension.
The best way to enter foreign interest is in Other Reportable Income. You can delete the 1099-...
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Using all nines won't go through e-file, but using 99-0099999 will work for a foreign pension.
The best way to enter foreign interest is in Other Reportable Income. You can delete the 1099-INT entry and replace it with the following:
Delete the 1099-INT entry you currently have (use the "trash can" icon).
Go to Wages & Income -> Less Common Income.
Select Miscellaneous Income, 1099-A, 1099-C.
Select Other reportable income (at the bottom of the list).
Description: Enter "Foreign Bank Interest (Turkey)" and the bank name.
Amount: Enter the USD equivalent
No EIN needed
Thursday
@pdussias If it's asking for an EIN number you are entering it in the wrong place. There is no EIN on social security SSA-1099. Delete it and enter it here, Enter a SSA-1099, SSA-1099-SM or RRB-...
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@pdussias If it's asking for an EIN number you are entering it in the wrong place. There is no EIN on social security SSA-1099. Delete it and enter it here, Enter a SSA-1099, SSA-1099-SM or RRB-1099 under Federal Taxes (Personal for Home&Business) Wages and Income Then scroll down to Retirement Plans and Social Security Then the second line - Social Security (SSA-1099. RRB-1099) - click the Start or Revisit button Then keep going, on the next screen be sure to answer Did you live in a Foreign Country? NO. If you are married you need to say No for each spouse.
Thursday
No problem,