Investors &amp; landlords

seedpearlsLevel 2

Do I have to complete a Form 1099-NEC for independent contractors who worked on my ex-rental house before I put it for sale?

I have a house that's been rented for 10 years. I decided to sell the house after my last tenant destroyed it. I had to do all kinds of repairs and renovations for at least 5 months before I put the house for sale. Do I have to complete Form 1099-NEC for those independent contractors who did the work in the house before I sold it? In theory, I was not in the business of renting the house in those 5 months, was I? Thank you for your help!

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sharlyaLevel 1

I was able to edit 3 of 5 RSU cost basis needing review. The last two still show need review with no edit option. How to edit cost basis needing review if no edit opt?

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Xin123Level 2

foreign rental property depreciation 30 yrs vs 40 yrs

Hi, I would like get some advice on foreign rental depreciation. I have a foreign rental property purchased in 2017 and made some renovation before I put in rental in 2017. The house itself and renovation cost have been depreciated by 40 yrs ADS during the past few tax season using turbo tax. In 2021, I made some other renovation and incurred some cost that I need to start depreciating in 2021. when I started file my 2021 tax, turbo tax uses 30yrs depreciation life for the renovation costs incurred in 2021. I am wondering if the renovation cost incurred in 2021 should be depreciated with 40 yrs or 30 yrs life? even the house itself will still be depreciated with 40yrs life. Any help is very appreciated  

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patriciatalarico0525Level 1

I live in a mobile home community. Can i deduct part of the rent i pay?

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astrikovskiLevel 1

how to edit 8960 to include investment expenses - advisory fee?

8960 change

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GoRangersLevel 2

When I enter Put or Call options written in 1099-B section (Type of investment=Options) there is no box for proceeds. How would I enter it?

Under Short-term basis reported to IRS (covered)

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babyrd55Level 4

Capital Asset Sales Entry Worksheet - not calculating long/short term correctly?

I have a simple entry on the Capital Asset Sales Entry Worksheet. Mutual fund dividend shares acquired 12/13/24 were sold on 10/7/25 - less than 10 months later. The worksheet is calculating this as long-term. Since I've fiddled around with that entry a lot I decided to re-enter it; but when I did TT again said it was long-term. I can override to short-term and TT does not flag it as an error, but: Will TT allow me to file a return with an override on it?; andWhy is this occurring? Is there some weird provision being triggered that I'm not aware of (I am a retired CPA), or is this just a flat-out form error?Using Windows desktop version of TT, v2025.47.23.38. Thanks. Brent

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sfsneuroLevel 1

Filing a UTMA custodial trust account for my son's child. What tax forms do I need to use to complete the filing of my's grandsons tax return. He does have capital gains taxes without personal income

Tax return for my grandson who has a UTMA custodial trust account, I need to know how to proceed filling out his tax return. I have been told that I need to fill out a business tax trust filing. Do I need to do this or do need  I fill out a form on my sons account to place into his for sent all tax filing for finding out his tax Account. I need to understand the process. I was told that I needed to fill out a business trust account for my grandson, but is asking for any EIN number and there is no such thing for an UGMA account

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07katie--Level 1

How do I add capital loss carryover tommy schedule D when it did not carry over from 2024?

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magnoliamoonriseLevel 1

I've entered my stock sales and reviewed it and it still says "needs review"

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mgchLevel 1

I donated $xx,000 of stock to a donor advised fund. When I enter Cost basis should the entry be per share or total cost basis value (# of shares x Basis/share)?

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twin-yolo-beastLevel 1

How do I fill out the depreciation for a rental property (form 4562)? I've heard different things on using the value of the home and not the land

Do I use the purchase as the value of the asset? Do I include renovations in the value?

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smitahomeLevel 1

ENTER RENTAL EXPENSES, BUT STILL SAYS NOT STARTED

enter info into TT for rental expenses under rental income, but still shows not started even though cost is entered

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bri7childersLevel 1

How can I remove the Certificate of Rent paid from my return that was automatically added from last years return?

When beginning filing my CRP from last year was automatically entered into my return from last year. I can't remove it and it keeps asking me to change the business number for it but will not allow me to change any other details.

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Rob_DogLevel 4

LLC member not Transferring

I have been using TT Business for 6 years.  For some reason when I opened TT Business 2025, my Members did not transfer??When I try to add my wife TT says that I must have had a change in ownership.  I can't seem to get around this. Any help is appreciated!! Rob

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jmacjem818Level 1

For the CA renters credit: Does it apply to land I pay rent on (space rent) for my manufactured home?

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KDP2Level 2

I accidentally deleted a property and all its depreciation history in TurboTax online

I am using the online version.   Does it have a Forms mode, so I can see if there is still a record of that history of depreciation from that property?  If not, is there any solution to my problem?

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mark121281Level 2

My 1099 lists "Gross proceeds investment expense" and this is being listed as sales profits. How can this be fixed?

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MY2KLevel 2

Unable to add inheritance date when clicking "I inherited it" drop down box on Form 8949 for non 1099 asset sale

1. Unable to add inheritance date when clicking "I inherited it" drop down box on Form 8949 for non 1099 asset sale.  I can put the inheritance date for long term capital gain if I select "Something else" in drop down box.  Is it clearer or recommended to select "I inherited it" drop down rather than select "Something else"  but will not give an inheritance date?2. Also, there is no reporting financial institution and no 1099 involved in the private sale but the 8949 worksheet requires the name of "financial institution".  Do I type None?  

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rddavis2Level 1

Can a new asphalt roof be filed

roof

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MFD83Level 1

where to input short term stock information

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wms52Level 2

sale of rental property

We sold our rental property on Jan. 15, 2025. The property (a 2-family residence) was purchased on Oct. 8, 2013 for $350,000,  required about $150,000 in renovations, and was sold for $850,000. We used TurboTax for most of those ten years. We are using the TurboTax program which we purchased at Sam's Club (I am not sure if that is referred to a TurboTax ONLINE or TurboTax DESKTOP). We are unable to follow TurboTax 2025 for the capital gains. There is no direction under RENTAL PROPERTIES AND ROYALTIES. I have tried multiple times....but cannot find SALE INFORMATION. What are we doing wrong? 

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lechLevel 2

Populate Code L at Column f on Form 8949 - TurboTax online

Hello, I am looking for help on how to populate code L at column f on Form 8949 using Turbotax online as there’s a disallowed loss from a sale to family member. 

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brianchase1Level 1

do I have to give the address of where the oil is pumped from?

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user17735421728Level 1

Why TT ask me to “Need to Review” on digital assets. When I click on it, it reset my digital assets name from ETH to N/A. And my unit sold to 0

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