The draft 2025 Instructions for Form 1099-R introduce a new code Y for
IRA custodians to report distributions made directly to a charity that
are intended to be QCDs. This means that 2025 TurboTax will need to make
changes to accommodate this new cod...read more
dmertzPosted 4 weeks ago
| Latest post 2 weeks ago by
dmertz
The two most common reasons to amend your tax return are that you
realized you made a mistake or you received a new tax form after you
filed. Other common reasons are using the wrong filing status or
claiming/not claiming a dependent. Whatever your r...read more
My mom has a rental property in her trust, she passed away in 2024. The
rental is still in her estate, not yet transferred to me yet. The rental
was appraised at $500,000. 1. If we keep it in the estate and sell for
$500,000, will there be any capita...read more
s d lPosted a week ago
| Latest post a week ago by
Hi Palms
I don't have an account with Cross River Bank, they weren't able to tell
me anything. Also IRS informed that I don't owe ANY debt and should've
received my refund by now. Im ready to get legal counsel regarding the
situation.
TurboTax Tax Payment Worksheet double counted federal tax payments on
line 1 and again on line 6. TurboTax applied a 2023 tax (refund)
over-payment as the first (04/15/24) estimated tax payment on line 1.
TurboTax again applied the same amount as "Ov...read more
I can't order my free Audit Defense despite reaching out for customer
service support multiple times ,4/25/2025 I became a Turbo Tax Advantage
Member in 2024 but I have been a turbo Tax customer since 2009 . The
problem is I am unable to claim the Au...read more
Federal Taxes: on a recent Return, I had underpaid my taxes by $150 and
was charged a PENALTY of $60.Yet IRS website states that usually no
penalties if you owe less than $1500. Please explain why Turbo Tax
calculated this penalty. Thx.
I received an email from Turbo Tax instructing me to activate my Free
Audit Defense benefit by April 30. However, when I follow the
instructions in the email try to activate the Free Audit Defense
benefit, it asks me to pay $60 instead of free. I thi...read more
Turbotax says:Sign and date Form 8453-OL within 1 day of acceptance. The
official CA FTB instructions
https://www.ftb.ca.gov/forms/2024/2024-8453-ol-instructions.pdf say:Sign
form FTB 8453-OL after you prepare the return, but before youtransmit
it.
px1Posted 3 weeks ago
| Latest post 3 weeks ago by
px1
I'M THE OWNER OF 2 SMLLC WHICH ARE SUBSIDIARIES OF A HOLDING COMPANY
(MMLLC) THAT I ALSO OWN. EACH SMLLC PURCHASED A PROPERTY, ONE IN CT AND
THE OTHER IL. THE HOLDING COMPANY OWNS BOTH SMLLC. I'M ABOT TO START
RENTING BOTH PROPERTIES, BUT IS UNSURE H...read more