I analyzed this for a taxpayer so I decided to post it here. Revisions
to section 25C ENERGY EFFICIENT HOME IMPROVEMENT CREDIT Changes the name
of the credit from Nonbusiness Energy Property Credit to Energy
Efficient Home Improvement Credit. Extends...read more
Today the President signed the Inflation Reduction Act of 2022 into law,
which includes new tax provisions, extensions, and expansions of tax
benefits related to energy efficiency and healthcare. Here are some
resources to help you understand the pro...read more
Decided to suss this one out too. Revisions to section 25D Residential
Clean Energy Credit Changes the name of the credit from Residential
Energy Efficient Property Credit to the Residential Clean Energy Credit.
The credit is extended through Decembe...read more
All of the below happened in the past week: 1. I bought shares of a
company over a couple of days without selling any in between.2. I sold a
few of its shares at a loss. 3. I bought a put contract of the same
company yesterday and sold it to close to...read more
Hello Friends-I sold a house in 2021. In the past the TT H&B had
generated the Form 8582 for the rental activities (Passive Loss
Limitations)But it is not generating 8582 this year 2021.Going through
the IRS instructions, there are 6+ conditions to b...read more
I have looked for how to change filing method and can only find an
answer for Turbotax Online. I have Turbotax Busines 2021 CD/Download
version.I originally selected to efile an estate 1041, never was able to
file it due to additional requirements, a...read more
When I add it to Turbo Tax my tax liability does not change. Do I need
to file an amended return? If so can it be electronically submitted? I
am using the desktop version of TurboTax.
My wife and I live in IllinoisMy wife works in Missouri and pays
Missouri taxesI work remotely and pay Illinois taxesWhen we filed
Missouri taxes, we correctly provided the income allocations (100% for
my wife, 0% for me)Today, we received a tax bill...read more
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