Other financial discussions

My boyfriend filled out the new w4 form 2021. we have never had to pay federal before. But currently it is saying he would owe over $1400! And he also has an extra $15 taken out weekly. I ‘think’ the problem is that he is listed as head of household with two exemptions. But I think the deduction portion may have been entered incorrectly. (The office lady does everything without any HR/payroll training ) so I think it is for my daughter plus me. But he cannot claim me. What is the best option to have on the new W 4 to not owe taxes? more is there a way to go back to the old w4.

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I got a message that my social security was on the dark web

I sold some old video games we found  in my parents garage last year online, and accepted payment for the items via paypal on behalf of my parents. I then wrote a check to my dad for the amount, minus expenses I paid to have the games graded/shipped/etc.. Paypal sent me a 1099k, however, I did not actually profit from this sale, just used my account to accept payment then transferred the money to my dad. The games sold for a little more than $30k.  How should I go about reporting this? Do I need to ask for money back from him to pay taxes on it or just make sure he claims it on his tax return? Thanks

Hi turbo tax charged me $78 the other day even if didn’t submit my tax yet now that I’m going to submit it they ask for $49 payment. Again this is rediculous already..I got my receipt number hope someone can help.

Dear Turbo Tax Community: For the past 15 years I’ve used Turbo Tax Premiere because I had a rental property and this product designed for rental property tax accounting. However, in 2020 I sold the rental property (early 2020) and closed out all 2020 taxes due to IRS, etc. in tax year 2020. So, for this tax year 2021, do I need to still use Turbo Tax Premiere or can I use Turbo Tax Deluxe or another version?  Not self employed, no kids or any major write offs - still working, take the standardized tax deduction (not itemized), no longer own rental property or a home.  Married, but that's about it.  Will my 2020 Turbo Tax Premiere tax file transfer to 2021 Turbo Tax Deluxe software (so I don’t have to reenter all my data points by hand)?   Or do I have to use Turbo Tax Premiere for one more year in 2021 to then delete the rental property from record so there’s an accurate capture of this? Not sure which one to buy this year to make

I claimed my disabled adult niece as dependent. I'm i eligible to receive child tax credit?

Earlier today I saw an advertisement for Turbo Tax/ Intuit that I found to be offensive. During the ad one actor is portrayed as being so shocked at the wonderful deal provided that he spews a mouthful of coffee over the other man seated at the table. The man spewed upon doesn’t complain but merely mops the other man’s spittle/coffee from his face. The narrator repeats the “amazing” TurboTax offer and the first man again spews a mouthful of coffee on the second man. Again, the second man makes no complaint, mops his face again and eventually comments on what a great deal TurboTax is offering. I can’t imagine any person being such a spineless doormat that they put up with being vomited upon not once but twice without any complaint or retaliation. I am posting on this site because I have been unable to access a human employee of TurboTax/ Intuit regarding this disgusting, offensive advertisement. 

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How do you account on Profit and Loss sheets as well as Balance Sheets for the granting of $3,000. of vested capital interest in an llc business?

Hello, I am a struggling 19 year old, who has been filing taxes since my first job in 2017-2018. I have not received any of the stimulus checks, and as I said I am struggling, so it’s be very helpful in these trying times per-say. my question is, how do I go about finding out wether I am eligible for the payment or not?my parents are useless with this stuff because they just got theirs deposited to them. I’m confused as to why I haven’t received any payments..

Currently in Initial Enrollment Period for Medicare, I will not start Medicare till 2023 or 2024. I am covered under my wife's health insurance from her work. She has "qualified" insurance, HDHP and HSA. She contributed full amount for the year 2022 as a family.  Can we in the year we decide to turn on Medicare and Social Security for me:Have my wife continue with her HDHP & HSA at the self-contribution level starting Jan 2023 or 2024.I would continue to be covered under her HDHP from Jan till Jun of that year, then turn on Medicare (as Special Enrollment Period) and turn on Social Security July of 2023 or 2024. Will this create a problem for IRS with the "No HSA Contribution" for the 6 months prior to starting Medicare? 

I have lost my previous years returns and now to figure out how to reconstruct my Depreciation and Amortization report. Thank you, Mike

I sold a rental property that had a remaining mortgage that was paid off using the sale proceeds. Is the mortgage balance considered an expense. If the sale was 425000 and mortgage was 125000 is the true sale 300000?

If this is the first year we are filing jointly due to getting married in April 2021 and we both got the $2,800 stimulus for us and our dependents claimed on the tax returns used, do we combine the totals or only put down the $2,800 because that's what we both got?

I just filed my taxes and I wanted to pay for my turbo tax service with my refund, I have done it like that the past 6 years and this year my bank was charged.

If I want to give money to my 3 children, how do I do it within the tax laws?

Achat par erreur impôt de luxe 2020 croyant que c'était 2021 , j'avais déjà acheté impôt de luxe 2020 en décembre 2019 que doit_on faire ? 

We need to figure out the following: We currently have a fair amount of money in cash largely due to the recent sale of our primary home and some from an inheritance. We purchased another primary home in a less expensive region of the country and were looking to use these funds to purchase a duplex as an investment property for cash or at least have a cash offer as a fallback option in todays hyper competitive real estate market.We currently have an LLC set-up to purchase and conduct the day to day business of managing the rental property(s).We also have a family trust set-up (a Revocable Living Trust) in which our primary residence and automobiles are also included (this was largely due to my current health and to make things easier for my family upon my death)We have a son (senior) who is primarily looking at going to a state school for college.My question(s), regarding the FAFSA application, would it be wise to take the cash that we have and payoff our mortgage. Would it increa

I have not received my refund yet 

I have tried for 2 days to get ahold of an actual live person with turbo tax with no success.  My bank account was charged $43.19 in November and we did not authorize that charge.  We only use turbo tax on occasion (this means I use other services some years) only to do our personal taxes.  We do not use turbo tax for any other purposes.  Getting a little tired of the run around.  Of course I have received multiple links with information on how to remove unwanted charges but that if for when one has signed up with turbo tax services of some type.  We do not fall into that category.  This is a fraudulent charge and I want it dealt with!

We have been using TurboTax and Quicken for Windows for decades. We are considering switching to Mac...is this crazy?

Seeking advice on back taxes owed.  Something is very fishy with my ex wife.  We divorced in 2019.  This year, 2021, she told me we owe back taxes from 2016, and she is paying the full $9K herself. I have never been notified of owing, and have seen zero documentation. Fishy thing is, she was evicted in 2020 and her default judgment was $8,860. I stay on top of my taxes, and just today, I received notice I now owe $2,500, and have zero idea why. Any idea what might be going on? 

if i am a consigner for my niece student loan, can the money I pay be deducted

Hello, How is a loan calculated on taxes? Is it considered income and if it is how are the loan payments determined on the taxes?  Thanks for reviewing this message.