All Posts

@martin-spencer27    Which State?   Utah has issues where the first three letters need to be lower case/...like "wth" and never "WTH"   Ky has some issues an I think some folks there needed to add zeros in front of the ID#   (not sure of this though)  

The form 1116 generated by TT doesn't make any sense. For entry 1a, it put some arbitrary number. It is not the Total Foreign Income I entered in the TT questionnaire. 3d has the right "Gross foreign source income". Shouldn't 1a be same as 3d? Is line 1a incorrect and if so, how do I fix it?  Even for line 2e "Gross income from all sources (see instructions)", TT has some weirdly high number that is 4x my gross income.

Yes, there is.   In TurboTax Online, to remove a vehicle from business use, follow these steps.    Down the left side of the screen, click on Federal. Across the top of the screen, click on Wages and Income. Under Your income, scroll down to Self-employment.  Click to the right. Click on Start / Edit/Add to the right of Self-employment income and expenses. At the screen Your self-employed work summary, click the pencil to the right of the activity. At the screen Here's your XXX info, scroll down the expenses and click the pencil to the right of Vehicle. At the screen Vehicle Summary, click the pencil to the right of the vehicle. At the screen Let's get some info about this vehicle, select I stopped using this vehicle. Continue to the screen Do any of these apply to the vehicle. Select You started using it as a personal vehicle 100% of the time at any point in 2025.  Click Continue. At the screen Conversion to nonbusiness use, select Yes.  In some cases, you could be required to recapture excess depreciation if you drove this vehicle for business use 50% or less.  See the Recapture rule under Learn more at the screen Conversion to nonbusiness use.  

Thank you for your answer.  Unfortunately, Turbo tax home and business 2025 has slightly different steps to follow but I was able to enter all the information in forms mode.   I do wish Turbotax would provide a statement page that could be included when efiling!   And it would be helpful if they would clearly indicate that line 11 code O on the K1 is not carried forward into the program .

I’m guessing it’s because the capital gains and qualified dividends aren’t taxed because the taxable income is so low and the earned income is not taxed because it is lower than the standard deduction. 

@PatriciaV to clarify before I start the additional work of this process, both the Form 3468 Part VI 30% tax credit calculation, and the Form 7220 issue of incorrectly being required for <1mW systems, are now corrected in the Desktop version (but not the Online version)?  I have already paid for the Online version (so that I could review the actual forms), so I would need to purchase the Desktop version and obtain a refund for the online version. I'm expecting quite a large refund, so I'd prefer not to keep waiting. Thanks

Yes, you can get a tax deduction for damage to real property (such as your home or roof) from a natural disaster, provided that it occurred in a federally declared disaster area.   TurboTax does ask about personal property first, but the casualty loss section covers real estate damage as well.   To get to these screens in TurboTax you can: Click on Search at the top right of your TurboTax screen Type casualty loss in the search box and Enter Click on the link that says Jump to casualty loss Answer all follow-up questions regarding your casualty loss Your screen will say Did you have anything damaged or stolen in 2025?  Answer Yes and Continue Answer all follow-up questions about your casualty loss See also:  About Casualty Deduction for Federal Income Tax   What if I have property that was lost or damaged (a casualty loss)? Please return to Community if you have any additional information or questions and we would be happy to help.