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yesterday
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It depends. If you both owned the home, then yes, you would split the gain/loss 50/50 with your partner. If the home was solely in your name, then you would report it all on your return.
yesterday
You will still get the first original full refund (and keep it) or need to pay the first tax due. You should not amend or change your return until you get the refund from the original return or your ...
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You will still get the first original full refund (and keep it) or need to pay the first tax due. You should not amend or change your return until you get the refund from the original return or your payment has cleared. The amended return will only be the difference you get back or need to pay. You can confirm this by printing your amendment and looking at the 1040X. Line 18 should be your original refund amount and line 21 should be your additional refund. If you paid on your original return it will be on line 16 (but don't include any penalty on 1040 line 38). If there is an amount owed with the amendment, it will be on line 20. Ignore any 1040V voucher that prints out and the new 1040. Those are what your return would have been if you had not needed to amend.
yesterday
I am a full-time resident of "State-A". But I derive rental income from farmland in "State-Z" where I am a full-time NON-resident. In years past I typically filed a non-resident return and paid state...
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I am a full-time resident of "State-A". But I derive rental income from farmland in "State-Z" where I am a full-time NON-resident. In years past I typically filed a non-resident return and paid state income tax in the state where the rental property is located. Then in my resident state, I indicated that taxes were paid to that other state. My resident state has given credit for the amount paid to the other state. TWO QUESTIONS ABOUT PROPERLY ENTERING DATA IN TURBOTAX: 1. Under "Qualifications for Rebates and Credits," TurboTax asks whether we had income from another state. It seems intuitive to answer "YES," but maybe not, considering that I might have to report this income in my resident state. Should I answer YES or NO? (I answered YES for the time being.) 2. Further along, under "Income Allocation," TurboTax asks me to list amounts of income in my resident state ("State-A") by categories, one of which is "Rents and Royalites." Even though the income is derived from my non-resident state, is it proper to include this income as "State-A" (resident state) income? Ahead of time, thanks.
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yesterday
It could be either one depending on the circumstances.
Generally, furniture would be considered to be an asset that must be depreciated. But, there is a choice to use the De Minimis Safe Harbo...
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It could be either one depending on the circumstances.
Generally, furniture would be considered to be an asset that must be depreciated. But, there is a choice to use the De Minimis Safe Harbor Election to claim the full cost of the furniture in the year it was placed in service as long as you qualify to use that election. This can be used for items purchased for $2500 or less.
Take a look at the following TurboTax help article for more details and instructions about how to make the election if you choose to do so:
What can I expense or depreciate with the business safe harbor election?
yesterday
The IRS error code F1040-516-01 means your tax return was rejected because someone else has already claimed you as a dependent on their return for this year. This is most common for students whose pa...
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The IRS error code F1040-516-01 means your tax return was rejected because someone else has already claimed you as a dependent on their return for this year. This is most common for students whose parents claimed them before they filed their own return. See How do I fix e-file reject F1040-516? for troubleshooting steps.
yesterday
One of the most common expense items for clergy is qualified expenses relating to a housing allowance. How you enter the housing allowance depends on whether it was reported to you on Form W-2.
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One of the most common expense items for clergy is qualified expenses relating to a housing allowance. How you enter the housing allowance depends on whether it was reported to you on Form W-2.
If the amount was included in W-2 Box 1 wages, then when you get to Box 14, enter Clergy Housing in the Description box, followed by the amount. (The amount might be reported to you in a letter from the church or in your employment contract if not on your W-2.) If the allowance isn't automatically classified as Other (not classified), select this option from the dropdown menu.
Follow the steps in this help article to make the rest of the necessary entries to classify the allowance correctly on your return. If it's in your W-2, you can subtract it from regular taxable income under Other Reportable Income while leaving it subject to Social Security tax.
To enter minister housing allowance in TurboTax when it is not on a W-2, treat it as self-employment income (Schedule C) using industry code 813000 to trigger clergy tax rules. Input the allowance, calculate qualified expenses, and ensure it is subject to self-employment tax (Schedule SE) while being excluded from income tax.
Other Expenses related to your salary income—For tax years prior to 2018, report the expenses as miscellaneous deductions subject to the 2% limit of adjusted gross income on Form 1040, Schedule A. The expenses must be prorated between your W-2 income and your housing allowance, making a portion of them nondeductible. Beginning in 2018, unreimbursed employee expenses are no longer deductible for federal taxes but some states, such as California, still allow this deduction for state income tax.
Expenses related to your self-employment income—Deduct these expenses on Schedule C. Examples of these costs include travel, office expenses, subscriptions, books and computers.
Ministers should make sure they don't fail to claim two key tax write-offs:
The self-employment tax deduction—You can deduct half of your self-employment tax on Form 1040 as an adjustment to income.
Health insurance costs—You can deduct the amount you paid for medical and dental insurance and qualified long-term care insurance for you, your spouse and your dependents. The deduction does not reduce your net earnings for self-employment tax purposes, and thus does not reduce your self-employment tax liability.
See this TurboTax tips article for more information on ministers and taxes.
yesterday
I've already tried the "Check the box to force file 1116" suggestion from other posts I've read. It did not work, still won't file 1116. All prior years worked fine. This year is weird. Thanks anyway...
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I've already tried the "Check the box to force file 1116" suggestion from other posts I've read. It did not work, still won't file 1116. All prior years worked fine. This year is weird. Thanks anyway, hopefully it will work for somebody.
yesterday
what does Url stand for
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yesterday
The rules for Form 1040-SR state "Form 1040-SR is available to you if you were born before January 2, 1961." E.g., if you were born in 1960 or 1959 and so on. If you were born in 1976, you will not b...
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The rules for Form 1040-SR state "Form 1040-SR is available to you if you were born before January 2, 1961." E.g., if you were born in 1960 or 1959 and so on. If you were born in 1976, you will not be able to elect to use this version of the form.
TurboTax automatically populates the 1040/1040-SR version given the date of birth you've entered, along with all applicable senior tax incentives, for those who qualify.
yesterday
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yesterday
You can try these steps to correct this:
Go out of your program, close your browser and go back in.
Clear your cache and cookies. Click here for How to clear your cache. Click here for How d...
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You can try these steps to correct this:
Go out of your program, close your browser and go back in.
Clear your cache and cookies. Click here for How to clear your cache. Click here for How do I delete cookies?
Try a different Web browser, such as Chrome or Firefox.
Make sure you have allowed local network access by clicking the lock/info icon next to the URL.
If you are using a VPN, disable it.
Make sure your internet connection is strong and stable
Try using incognito mode
Disable all browser extensions
Temporarily disable antivirus or firewall software that might be blocking data transmission
If you are using TurboTax Desktop, you can manually check for updates for your TurboTax program by clicking on "Online" in the black bar near the top of your screen and selecting "Check for Updates."
It may be a temporary server issue. This requires you to wait and try again later.
Please return to Community if you have any additional information or questions and we would be happy to help.
yesterday
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yesterday
This is bullshit - I didn't know it was an added on fee. I thought that was the cost of filing being deducted from my refund
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yesterday
How do I enter into Turbo Tax IRC 170(f)(8) expenditures for meals while living away from home performing charitable donated services?
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yesterday
how to enter
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yesterday
Can you just Continue past that screen? Once you know that you have no errors in your return, you could skip the Review and go directly to File.
@walkertd44
yesterday
the numbers are not the same
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yesterday
TurboTax may reject driver's license numbers because of formatting issues. Remove any dashes, hyphens, or spaces. If you have a NY license, Do not include "IDUSA" Only post the 8-10 character ...
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TurboTax may reject driver's license numbers because of formatting issues. Remove any dashes, hyphens, or spaces. If you have a NY license, Do not include "IDUSA" Only post the 8-10 character Document Number. Some fields may only require the first few characters or have specific length constraints. You may be able to leave this section blank. A driver’s license is generally not required for federal e-filing, It may be required by states like Alabama or Illinois.