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yesterday
Partnership. Box 20 has code Z (Section 199A information) checked, with remark to see statement. The statement does not include any amount for Section199A. Entering nothing as an amount, or zero, for...
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Partnership. Box 20 has code Z (Section 199A information) checked, with remark to see statement. The statement does not include any amount for Section199A. Entering nothing as an amount, or zero, for Section 199A is generating an error. How do I resolve?
yesterday
Paperwork or copies or wat??
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yesterday
In TurboTax 2025 Desktop for Mac, the usual way to access Forms Mode is by selecting View from the menu, then choosing Go to Forms. If the All forms menu is greyed out, it may be due to your current ...
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In TurboTax 2025 Desktop for Mac, the usual way to access Forms Mode is by selecting View from the menu, then choosing Go to Forms. If the All forms menu is greyed out, it may be due to your current screen context or an unfinished step in your tax return. Try these steps: 1. Ensure you have started or opened a tax return file. 2. Click View in the top menu. 3. Select Go to Forms again. 4. If still greyed out, complete any required data entry prompts first since certain software areas may lock form access until minimum info is entered. If this persists, the software may restrict form editing at this stage, which is typical to prevent errors when the return is incomplete.
yesterday
Thank you so much, Diane W777. I decided to go through my own notes on assets for the last five years and re-enter them, although the program would not let me choose whether to depreciate for 5 or 7...
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Thank you so much, Diane W777. I decided to go through my own notes on assets for the last five years and re-enter them, although the program would not let me choose whether to depreciate for 5 or 7 years—it just chose 7 years, and I know that until now they were on a 5 year recovery period. Regarding the advice that I should be able to go to my 2024 returned and see a list of all depreciable assets (from form 4562), I don’t think that is true. If an item (such as a sofa) was put into service that year, it will list it, but any items that may be on their 2nd, 3rd, etc., year of depreciation are not listed, including, of course, what year they are on or what the method is. The program probably keeps track of it internally and adds it in, but the user cannot see it. I used to get a worksheet (not a form) that listed everything that had ever been depreciated, with dates, convention, and method. No more. If that doesn’t seem right to you, please let me know. I am grateful for your help.
yesterday
You can use the amount your employer listed in Box 12 to enter the information after entering your W-2 by following these steps:
1. Complete entering the W-2, choose continue, then select that y...
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You can use the amount your employer listed in Box 12 to enter the information after entering your W-2 by following these steps:
1. Complete entering the W-2, choose continue, then select that you have overtime on the screen Let's check for other situations. 2. On the "Let's check if we can deduct your overtime" screen choose Help me calculate my overtime premium or No help needed, I know what to enter. 3. Enter the requested information.
The requirements for entering and claiming this deduction are:
*You must be a non-exempt (hourly) employee.
You can only deduct the "premium" portion of your pay, which is usually one-third of your total time-and-a-half earnings or one-fourth of double-time earnings.
Your filing status cannot be Married Filing Separately.
Your modified adjusted gross income must be $150,000 or less ($300,000 for joint filers) to receive the maximum deduction of $12,500 ($25,000 for joint filers).
You must have a valid Social Security number.
yesterday
There is a bug in Turbotax Delux 2025 sch K partnership dividends calculation that was completely wrong.. In Form K1 input Part III item 6 (A), there was an input of Ordinary Dividends amount. In 6...
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There is a bug in Turbotax Delux 2025 sch K partnership dividends calculation that was completely wrong.. In Form K1 input Part III item 6 (A), there was an input of Ordinary Dividends amount. In 6(B), the amount of qualified dividends to be entered. General speaking, the 6(A) should be the total dividends reported. the 6(B) should be the total qualified dividends reported within the 6(A).. As a result, when the amount of the 6(B) increases, the % of the dividends received as qualified dividends received increases, therefore the tax due should be reduced instead of increases. However, for turbotax delux 2025, when the 6(b) increases, the tax due would be increases. It was clear that turbotax tax treated the total dividends received as 6(A) + 6(B) therefore the total dividends received would be greater than 6 (A). That is completely wrong calculation. I urge turbotax to consult an experienced accountant to fix this errors.. I usually trust turbotax 100%, now I am really concerned the accuracy of the software. Please fix this error! Thanks.
yesterday
That’s probably right. It wasn’t a rollover but a conversion.
yesterday
Federal and state refunds come from completely separate entities, There is no rule as to which one will come first or how much time there will be between their arrivals. Some states process returns...
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Federal and state refunds come from completely separate entities, There is no rule as to which one will come first or how much time there will be between their arrivals. Some states process returns quickly and some are very slow.
STATE RETURN
Make sure your state return was accepted: https://turbotax.intuit.com/tax-tools/efile-status-lookup/
To track your state refund:
ttps://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_US_en_US?uid=lt447ebr
https://ttlc.intuit.com/turbotax-support/en-us/help-article/state-taxes/contact-state-department-revenue/L9qVToi02_US_en_US?uid=m6e06um0
yesterday
Based on business miles divided by total miles the depreciation will change each year. The business cost basis changes each year and the business use percentage changes each year.
This means t...
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Based on business miles divided by total miles the depreciation will change each year. The business cost basis changes each year and the business use percentage changes each year.
This means the depreciation allowed each year is based on the straight line half year convention using the the lower rates or ADS (alternative depreciation system) when the business use is 50% or less. Here is what should have been the rate each year if the business use was lower than 51%
2022 Year 1 - NA due to standard mileage rate possibly?
2023 Year 2- 20% x business cost basis
2024 Year 3 -20% x business cost basis
2025 Year 4 -20% x business cost basis
2026 Year 5 -20% x business cost basis
2027 Year 6 -10% x business cost basis
Table 8A - IRS Publication 946
The miles are key to determining the depreciation each year. Based on what I can see it was purchased in 2022, not 2021. It appears the vehicle is used in both business and rental activity which does create more difficulty for the software. Currently and at the point of sale or trade due to calculating the appropriate deduction in each separate activity it's more challenging when actual expenses are used instead of the standard mileage rate (SMR).
Be sure to check out both the sections to review all the detail about each vehicle. If you don't have TurboTax Desktop, it may be a good idea to switch but it appears you are using that to view the worksheets.
I am reviewing the Depreciation and Amortization Report for 2025 under Schedule E and there is a separate one under Schedule C which is what you may be looking at because that one does not have all the data.
Please review the information provided and then update with your additional questions and we will help.
@firedrake123
yesterday
It was simply reviewing my information. I don't receive any railroad benefits.
yesterday
1 Cheer
Attach the schedule or form(s), if any, that you used to figure your revised tax (Line 6). Don’t attach worksheets. If any forms specify an attachment, put all those attachments at the end in the ...
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Attach the schedule or form(s), if any, that you used to figure your revised tax (Line 6). Don’t attach worksheets. If any forms specify an attachment, put all those attachments at the end in the same order as the forms they go with. Include any new/corrected tax document only if it shows federal tax withheld, Do not include your old 1040, nor your revised 1040 because the Form 1040-X reflects any changes there and becomes your new tax return. @panamax
yesterday
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yesterday
Also cannot delete duplicate entries of 1099-Div
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yesterday
@timmichelle We cannot be sure what answer you are asking about as the "same" since multiple users have posted to this thread, but if you are asking if a 23 year old full-time student can be a qualif...
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@timmichelle We cannot be sure what answer you are asking about as the "same" since multiple users have posted to this thread, but if you are asking if a 23 year old full-time student can be a qualifying child dependent, the answer is yes whether the student is an undergrad or a graduate student.
You can claim a child, relative, friend, or fiancé (etc.) as a dependent on your 2025 taxes as long as they meet the following requirements:
Qualifying child
They're related to you.
They aren't claimed as a dependent by someone else.
They're a U.S. citizen, resident alien, national, or a Canadian or Mexican resident.
They aren’t filing a joint return with their spouse.
They're under the age of 19 (or 24 for full-time students).
No age limit for permanently and totally disabled children.
They lived with you for more than half the year (exceptions apply).
They didn't provide more than half of their own support for the year.
yesterday
I have a broker 1099-DA that lists noncovered digital transactions. It shows proceeds and cost for each transaction, but not the gain. It then adds all the proceeds and costs, and reports the total s...
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I have a broker 1099-DA that lists noncovered digital transactions. It shows proceeds and cost for each transaction, but not the gain. It then adds all the proceeds and costs, and reports the total short and long term gains. But the TT instructions for mailing the 1099-DA say I must report "gain or loss for EACH SALE". If the 1099 already shows the proceeds and cost for each sale, what am I supposed to do, use a hand calculator for each of hundreds of transactions and then hand-write the results on the pdf 1099-DA from the broker?
yesterday
looks like many people reporting this and now me as well. This has been going on for quite a while. I even started a new return and it is still going on. Will this get fixed?
yesterday
When I went to uninstall Turbotax Business... it was not there. know I downloaded it but the install must have failed. I went out to the downloads and it would not download it again. I had the pu...
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When I went to uninstall Turbotax Business... it was not there. know I downloaded it but the install must have failed. I went out to the downloads and it would not download it again. I had the purchase information and download code but it simply said nothing there to download. So, I am stuck.
yesterday
Do you receive railroad retirement benefits? Or....what were you trying to enter when you ended up on that screen?
yesterday
To qualify for the $1,000 government deposit into a Trump Account, your child must be a United States citizen and have been born between January 1, 2025, and December 31, 2028. The child must also ha...
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To qualify for the $1,000 government deposit into a Trump Account, your child must be a United States citizen and have been born between January 1, 2025, and December 31, 2028. The child must also have a valid Social Security Number to be eligible for this one-time seed contribution.
The box will appear for children who are eligible, so double check the birthdate and Social Security Number entered for your child in the "My Info" section to the left of your screen.