Our Turbo blog recently published an article highlighting the top
reasons why people are in debt along with suggested fixes and next
steps. The five categories include: Not using a budget or trying to
track spending Lacking an emergency fund Borrowin...read more
MariPPosted September 6, 2018
| Latest post March 1, 2023 by
MoneyMike
In my K-1, I have a loss from box 2(Net rental real estate income(loss))
and a gain from box 10(Net section 1231 gain). When TurboTax generated
Form 8582, it automatically put my net section 1231 gain into box
1a(Activities with net income). My under...read more
yingmei123Posted January 20, 2024
| Latest post January 24, 2024 by
PatriciaV
took complete 401k of $ 66K Distribution in April 2020.. Rolled over 10K
before 60 days. So i was taxed on entire amount and I claimed 56K on tax
return. I withdrew entire 10K that I had rolled over. Do I have to pay
10% penalty because I am only 59,...read more
robken1145Posted January 22, 2024
| Latest post January 22, 2024 by
MinhT1
Understand Federal deductions have changed, but what about NJ.Especially
commercial parking costs that are not $ supported by employer.Most
information is for self-employed or chair renters.
britgeezerPosted January 19, 2024
| Latest post January 21, 2024 by
xmasbaby0
On the finish and file page you confirm pay with federal return. Then it
confirms elligibility to pay with Federal Return. Then confirm payment
and it goes right back to review. I tried different browser. I cleared
cookies and catch. Also tried from ...read more
I am reviewing old tax records. I assumed entering the information from
the W2 for 401k contributions would be part of its process. I cannot
find how 2020 accounts for catch-up contributions. It keeps telling me I
contributed excess.
majubyPosted January 19, 2024
| Latest post January 19, 2024 by
DoninGA
Can someone please educate me on how to file form 8829? To my knowledge,
it would be filed with my personal tax return. I have a DBA and EIN and
would like to use the home office deduction to set up an office in a new
apartment to establish my busine...read more
Our small business will collect payments from customers in 2024 for
retreats we are hosting in early 2025. The payments collected in 2024
will be significant ($300k+) and our expenses associated with the
retreats in 2025 will be significant ($200k+),...read more
I did a few federal and state e-filing for 10 of my employees, just
found out the state abbreviation I put in box 6 was incorrect for the
majority of them. Since one employee lives in CA and the rest lives in
KS. I switched to CA for that one employe...read more
jazzyj6890Posted January 18, 2024
| Latest post January 18, 2024 by
JamesG1
For 2023 I contributed to a retirement 401k account through work.. with
that in mind I would like to also deposit about 5,000 dollars into an
IRA to lower my taxable income… am I allowed to do that since I’m
contributing to a 401k at work or would I ...read more
Bluelex18Posted January 16, 2024
| Latest post January 16, 2024 by
DoninGA
Does Mint support a Bi-Monthly (Bi-Weekly) Budget? For example, we get
paid twice a month, on the 1st and the 15th. We have 1st-15th bills and
we have 16th-31st bills. It’s not a simple Monthly Budget for us and we
need to know how much we have spent...read more
rmkjnePosted October 5, 2023
| Latest post October 5, 2023 by
tagteam
What is the maximal amount a self employed 1099 contractor can
contribute to retirement accounts?What times of retirement accounts can
1099 self employed contractor contribute to beyond Rollover IRA or Roth
IRA?