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Sunday
how do i find what is another account
Topics:
Sunday
how do i find what is another account
Topics:
Sunday
No, that was the only item I received from the IRS so far. Thank you for your help and confirming!
Sunday
It's not clear whether you gave the gift or received the gift. You do not pay income tax on a gift that you received, and you do not report it on your tax return, as long as it's a true gift with no ...
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It's not clear whether you gave the gift or received the gift. You do not pay income tax on a gift that you received, and you do not report it on your tax return, as long as it's a true gift with no strings attached.
Your basis for a gift that you received will affect your tax if and when you dispose of the asset. To determine your basis you need to know the donor's basis, the fair market value at the time it was given to you, and how much, if any, gift tax was paid on it. If you gave the gift, the person you gave it to will need this information. For details see "Property Received as a Gift" in IRS Publication 551, Basis of Assets.
Sunday
Even though my tax status "Resident Alien" for the calendar year 2024, I received four 1042-S with the income codes 29 and 06, two of each. Going through the forum posts, it seems like I can report t...
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Even though my tax status "Resident Alien" for the calendar year 2024, I received four 1042-S with the income codes 29 and 06, two of each. Going through the forum posts, it seems like I can report the forms with income code 29 under 1099-INT and 06 under 1099-DIV. I couldn't find exactly which fields to use in the 1099 forms. For 1042-S forms with income code 06, I entered the gross income (box 2) from 1042-S in box 1a of 1099-DIV. entered the total withholding credit (box 10) from 1042-S into box 4 of 1099-DIV. For 1042-S forms with income code 29, I entered the gross income (box 2) from 1042-S in box 1 of 1099-DIV and ignored rest of the boxes. Details of my 1042-S forms: All of my 1042-S forms have a positive gross income in box 2. Both of my 1042-S forms with income code 06 have tax withheld (box 7a = box 10) Neither of my 1042-S forms with income code 29 have any tax withheld. Boxes 5--11 are all $0. It would be very helpful if someone could confirm this is the right way to enter the 1042-S forms. Thank you!
Sunday
1 Cheer
Yes, I still say not to amend. Letter 6174-A does not require a response. It's just "educational." The IRS sends it to anyone who has crypto transactions, or who they think had crypto transactions an...
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Yes, I still say not to amend. Letter 6174-A does not require a response. It's just "educational." The IRS sends it to anyone who has crypto transactions, or who they think had crypto transactions and might not have reported them. It doesn't mean that they found anything wrong with your tax return. When the letter talks about reporting your transactions accurately, it means reporting all of your transactions, with the correct dollar amounts. The IRS is mainly interested in going after people who don't report their crypto transactions at all. So don't worry about it unless you get another letter. And don't amend.
Is there anything else you forgot to tell us that might change the picture? Did you get any other IRS letters?
Sunday
As a single person you can give up to $19,000 to as many individuals as you want in 2025 without having to report it to the IRS or pay any gift tax. Anything over that requires Form 709 but you won’...
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As a single person you can give up to $19,000 to as many individuals as you want in 2025 without having to report it to the IRS or pay any gift tax. Anything over that requires Form 709 but you won’t have to pay any tax due to the large gift/estate tax exemption.
Sunday
Thanks for replying! I forgot to mention in my original post that I received Letter 6174-A, hence I checked my previous tax records. Would still say to not amend despite receiving that letter?
Sunday
I'm seeking support with this issue right now. And to further complicate my situation, I recently closed my Health Equity HSA and shifted my funds to my employer's new HSA provider. I don't have acce...
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I'm seeking support with this issue right now. And to further complicate my situation, I recently closed my Health Equity HSA and shifted my funds to my employer's new HSA provider. I don't have access to Health Equity investment tool, and Health Equity customer service representatives apparently don't have access to my investment history. I only have access to my year-end statement and monthly statements - none of which include the dividends or net capital gains. (Year-end statement only includes interest.) The year-end statement does say that my "net funds invested" is in the negative. So I'm hoping this means I actually didn't earn any dividends or capital gains...? Any insight would be tremendously helpful!
Sunday
1 Cheer
Do not amend your tax return, since the amendment would not change the amount of your income or your tax. There is no specific penalty for omitting the quantity information. If the IRS wants the info...
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Do not amend your tax return, since the amendment would not change the amount of your income or your tax. There is no specific penalty for omitting the quantity information. If the IRS wants the information they will send you a notice asking for it. They are not likely to do that.
Sunday
I use a crypto tracking software that tracks my crypto transactions and generates a tax report, which can be exported to TurboTax... or so I thought. I saw on my 2023 tax return that the tracking sof...
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I use a crypto tracking software that tracks my crypto transactions and generates a tax report, which can be exported to TurboTax... or so I thought. I saw on my 2023 tax return that the tracking software omitted the quantity of my crypto sales from the description column of Form 8949, but uploaded everything else, such as dates, cost basis, and proceeds, correctly. For instance, instead of showing that I sold "0.001 BTC" it only shows "BTC" in the description column. I made over 100 crypto transactions for tax year 2023, so this isn't a one-off. Would the IRS assess any penalties, fees, or other punitive action for not amending to include the quantity of each sale? To be clear, doing so won't change the gain/loss of each sale, so my tax liability will be unchanged, since everything else was uploaded and flowed through correctly. Edit: Forgot to mention, I received Letter 6174-A, which prompted me to check my tax records.
Sunday
Thanks... IRS rules say IF you recieved 1099 B, I never received one, I am filing under Box F, coinbase does not provide 1099 B, also the partnership already filed 2024 tax and distributed K1, inclu...
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Thanks... IRS rules say IF you recieved 1099 B, I never received one, I am filing under Box F, coinbase does not provide 1099 B, also the partnership already filed 2024 tax and distributed K1, including to me with portion of the gain.
Sunday
We each report our share of income and expenses on our individual tax returns (Form 1040) using Schedule E. I'm the only one that uses Turbotax. The rest of my family file with accountants and do th...
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We each report our share of income and expenses on our individual tax returns (Form 1040) using Schedule E. I'm the only one that uses Turbotax. The rest of my family file with accountants and do the same and have been doing so for years. I'm not sure why the tax year of 2024 would be relevant to my question as this activity of me leasing it and renting it out as an Airbnb is beginning in tax year 2025.
Sunday
Oh I do see on 540 Schedule CA under Other Itemized Deductions line 20 is tax preparation fees. You would first have to enter them on the federal side to flow over to California.
Sunday
No one in the user forum can tell if anything from your 2023 return transferred over. We cannot see your tax return or any of your information. If you are using online TurboTax and you are in th...
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No one in the user forum can tell if anything from your 2023 return transferred over. We cannot see your tax return or any of your information. If you are using online TurboTax and you are in the same account with the same user ID, then your 2023 tax file should have transferred over. If you are in a different account, nothing would transfer over unless you make that happen. Or if you are using desktop, when you begin the return you are given the chance to transfer the 2023 tax file from your own hard drive or from whatever back up device you have it on, or even from your online account if you used online for 2023 and switched to desktop for 2024.
The transfer of 2023 to 2024 has to be done at the very beginning before you enter any new 2024 data.
https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/transfer-last-year-return-turbotax-online/L279eUvY2_US_en_US?uid=m6ayqk1s
Sunday
This is a public web site that can be seen by anyone—including scammers and would-be identity thieves who would love to contact you and pretend to be from TurboTax. Please remove the personal inform...
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This is a public web site that can be seen by anyone—including scammers and would-be identity thieves who would love to contact you and pretend to be from TurboTax. Please remove the personal information you posted here ASAP by returning to your post and clicking the three little blue dots on the upper right to edit your post.
If you need help from customer support, then during business hours Monday - Friday, 5 a.m. to 5 p.m Pacific time--contact support.
To call TurboTax customer support
https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/contact-turbotax/L2y9ZKpQB_US_en_US?uid=m5s9l2vh
Or--post a clearly worded complete question here in the user forum and someone will try to help.
Sunday
I am on version 2024.r43.056 which was installed on 8/10/2025. I'm on a MAC and I'm having the same print issues. I've tried saving the file to a PDF, but the viewers report that the PDF is corrupt.