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It depends on the specifics of your situation and would require more information than you should be posting on this public forum.  There are benefits to both, and again, what's best depends on your s... See more...
It depends on the specifics of your situation and would require more information than you should be posting on this public forum.  There are benefits to both, and again, what's best depends on your situation.
Thank you. I check the tracker daily and nothing has changed since February 19th, also no notice from the IRS.
If you have met all the rules and still not seeing the reduction: limited losses -up to the amount at risk. If the property is significantly depreciated, your loss might be limited. passive v... See more...
If you have met all the rules and still not seeing the reduction: limited losses -up to the amount at risk. If the property is significantly depreciated, your loss might be limited. passive vs nonpassive. Passive losses offset passive gain. check form 461 -excess business loss limit about $300k/ $600k MFJ check your form 8582 to see if your rentals are showing passive check 6198
Thank you. We e-filed on February 19th, the federal was approved that day but nothing has happened since. I have had to wait in the past, but this seems to be at a standstill. Really hard to talk to ... See more...
Thank you. We e-filed on February 19th, the federal was approved that day but nothing has happened since. I have had to wait in the past, but this seems to be at a standstill. Really hard to talk to someone on the phone, I'm at a loss of what to do? I would think if there was an error I would be notified.
Have just uploaded (or so says my Win-11 based copy of TT 2025 Premier), a diag copy of tax file. Diag file token: [removed]-69994031 (if anyone from Intuit patrols this board). Filing shows penalt... See more...
Have just uploaded (or so says my Win-11 based copy of TT 2025 Premier), a diag copy of tax file. Diag file token: [removed]-69994031 (if anyone from Intuit patrols this board). Filing shows penalty for failing to pay quarterly in 2025 based on 2024 filing.  (This much is correct: my bad, I missed noticing the requirement).  That said, I'm trying to match the TT output and calcs with the FTB form and instructions for 5805. Concession: Calif. has made this massively complicated - not Intuit's fault.  Still, though TT spits out a penalty $ number at bottom of 5805, there are so many blank lines above it (blank for unknown reasons), I cannot figure out how TT arrived at its result.  And I cannot duplicate it when I try to do the calcs by hand using the published 5805 instructions.  I would like to see a 5805 that is actually completed (show-your-work style), with a bottom-line result (whatever it is) that can be reproduced and substantiated. This is for current year (TY2025); I see some threads re 5805 a year that, my case "feels" similar to some. FYI.
It is generally not possible to remove payments from an employer’s private health insurance plan for the current year and then retrospectively declare them for tax purposes next year. Under Canada ... See more...
It is generally not possible to remove payments from an employer’s private health insurance plan for the current year and then retrospectively declare them for tax purposes next year. Under Canada Revenue Agency (CRA) guidelines, private health insurance premiums are typically deducted from your paycheque on a current basis, and the portion you pay is reported on your T4 slip (Box 85) in the year it is paid.   Deducting Premiums Paid for a Private Health Insurance Plan   Thank you for choosing TurboTax.
Did you amend 2024  after you had started 2025?   You can only transfer 2024 into 2025 at the beginning.   So you would need to start 2025 over to transfer from the amended 2024 return.   Otherwise y... See more...
Did you amend 2024  after you had started 2025?   You can only transfer 2024 into 2025 at the beginning.   So you would need to start 2025 over to transfer from the amended 2024 return.   Otherwise you need to manually enter any changes from the amended return.   Enter a Capital Loss Carryover under Federal Taxes or Personal (Home & Business) Wages and Income Then scroll down to Investment Income Capital Loss Carryovers - Click the Start or Update button You enter the full amount that carried over, not just the 3,000
You're welcome! Yes, as my colleague previously stated, you must initiate a new return to get back to the original product, and you can delete this return once you start a new return.
I ended up filing a dispute with my card company after they denied my refund request. I didn’t wait for the fix, but paid for desktop where I could edit the form and add MAGI myself. What a wreck! 
Yes, since the 1042-S income is not included in Box 5 Scholarships on your 1098-T, you are reporting correctly by entering the 1098-T (which will add taxable scholarship income), and entering the 104... See more...
Yes, since the 1042-S income is not included in Box 5 Scholarships on your 1098-T, you are reporting correctly by entering the 1098-T (which will add taxable scholarship income), and entering the 1042-S income/tax treaty offset in Miscellaneous Income.   @Climate_aug 
In the email that you should have received is an activation link, some accounts aren’t fully activated until that link is used.  It could be that your account never activated.  You can request a new ... See more...
In the email that you should have received is an activation link, some accounts aren’t fully activated until that link is used.  It could be that your account never activated.  You can request a new activation email from IDNotify support.  To contact IDNotify Customer Support directly so they can verify the account and reset access:   US phone: 1-877-343-6569 (IDNotify by Experian)
Sitting on the phone, waiting for someone to ask this question, can be hours long. Please help me.
My Fees for early return and Turbo Tax were taken from my FEDERAL RETURN.  The State of CA released my refund to Cross River bank on 4/14/26 and I DON'T OWE anymore fees.  Who is this Cross River ban... See more...
My Fees for early return and Turbo Tax were taken from my FEDERAL RETURN.  The State of CA released my refund to Cross River bank on 4/14/26 and I DON'T OWE anymore fees.  Who is this Cross River bank and why are they sitting on MY MONEY? (yes, I'm mad - but not at you all.)
None of which can happen because I can't even complete the process with them continually redirecting me to a "site unavailable" method. I'm not going to spend endless days struggling to just find a s... See more...
None of which can happen because I can't even complete the process with them continually redirecting me to a "site unavailable" method. I'm not going to spend endless days struggling to just find a simple answer so a phone call will have to do.
There's a problem with this mechanism.  when entering the data associated with the foreign rental tax, you are asked to pick a category. The only category fitting rental income is "passive" category.... See more...
There's a problem with this mechanism.  when entering the data associated with the foreign rental tax, you are asked to pick a category. The only category fitting rental income is "passive" category. Unfortunately, someone in their infinite wisdom decided that foreign financial assets belong in the same category, AND therefore they also decided in their infinite wisdom to pull in completely unrelated domestic investment interest expenses from Schedule A as "definitely related".   Generally, the 1116 worksheet is challenging, i get that. It pulls all income and expenses in the entire TR to figure out the ratio of US tax to foreign tax, to figure out how to limit the foreign tax credit. However, the domestic investment interest expense is pulled in as "definitely related" at 100% impact, without giving you an opportunity to object. You are notified that this is happening, and if you have an issue you can go back to "deductions", but there's really nothing you can do in the "deductions".   In addition, during smartcheck i got asked to fill in a basis for the non-existent financial asset for this item. some people say to enter 0 or 1 as the basis but that makes no sense. I shouldn't have to enter any basis whats o ever for non-existent items...   I tried to remove the domestic investment interest expense manually from the 1116 worksheet itself in "forms mode", but the software doesn't allow me to erase the number. It also doesn't allow me to change the ratio of its impact from 100% to whatever % was calculated for non-related expenses. Perhaps the workaround is to do the entire 1116 worksheet in forms mode, although the code might try to still force the investment interest expense into the form when i get back to step-by-step mode.    Appreciate any thoughts about a workaround until this is fixed.  
Unfortunately, while the advanced premium tax credit is based on your situation at the time it is received, the actual credit is reconciled based on the full-year tax situation.  Marriage is one o... See more...
Unfortunately, while the advanced premium tax credit is based on your situation at the time it is received, the actual credit is reconciled based on the full-year tax situation.  Marriage is one of many things that can adversely impact the credit calculation as the tax return treats you as married for the entire year for all purposes, including calculation of the credit.   Congratulations and best wishes on your marriage!   
I need to make sure I did it right, for them to take out money, but I can't find it on my taxes saying I am paying through my bank account