All Business & farm posts

Re: Car & Truck Worksheet for Form 4562

PatriciaV — Mon, 13 Apr 2026 17:22:01 GMT

Yes, September through December is 4 months out of 12, which is 33.33%. This percentage is used to calculate the depreciation deduction for the year (you claim depreciation only for the months you used the vehicle).

However, this is not the business use percentage. As long as you enter the same mileage for both total miles and miles for business, the business use should be 100%. If the vehicle was used 50% or more, you should be able to claim Section 179 and/or Special Depreciation.

You may wish to review your entries to be sure they are as expected.

Re: New business user - can't buy software - we are having trouble authorizing your credit card

CatinaT1 — Mon, 13 Apr 2026 17:12:58 GMT

Try using 123 Main St for the address. Keep your city, state and zip the same.

If that doesn't work, call Customer Service and tell them you have a "block payment issues, possibly due to billing or an invalid license" and the agent should be able to help you. Here is how you reach customer service: Turbo Tax Customer Service

Re: I had a business loss of -43,888 in 2024 and in 202 I have a positive net income of 11.680, w...

MaryK4 — Mon, 13 Apr 2026 17:12:20 GMT

TurboTax often does not calculate Net Operating Loss (NOL) carryforwards automatically because the IRS rules for determining an NOL are complex and differ from a simple "negative income" figure. To use your prior losses, you typically must manually calculate the NOL and enter it on TurboTax.

Re: How to Add Schedule 1-A part V (Enhanced Deduction for Seniors) to my Federal Taxes?

MinhT1 — Mon, 13 Apr 2026 17:10:12 GMT

You do not fill out Schedule 1-A.

The senior deduction of $6,000 is automatically calculated by TurboTax based on the dates of birth you entered for each spouse.

Married couples filing separately are not eligible for the senior deduction.

The senior additional deduction is not included in the standard deduction but appears on line 37 of Schedule 1-A of your form 1040, with that amount flowing to line 13b of your form 1040.

In TurboTax Online, you can only view Schedule 1-A after registering and paying the TurboTax fee.

But you can preview your form 1040 and check line 13b of your form 1040 which includes the senior deduction among other deductions if applicable, such as the tip deduction, the overtime or the car loan interest deduction.

To preview your form 1040 in TurboTax Online, follow these steps:

Open your return
In the left-hand column, locate Tax Tools, click on the drop-down arrow then click on Tools
On the Tools Center page, click on View Tax Summary
In the left-hand column, click on Preview my 1040
Your form 1040 will display.
Scroll down to line 13b and you should see the amount of this deduction included in this line.

How to Add Schedule 1-A part V (Enhanced Deduction for Seniors) to my Federal Taxes?

mschwab147 — Mon, 13 Apr 2026 17:07:43 GMT

schedule 1-A Form 1040

I had a business loss of -43,888 in 2024 and in 202 I have a positive net income of 11.680, why would turbo tax calculate that automatically?

cornelltransportation — Mon, 13 Apr 2026 16:54:59 GMT

in 2023 I have a loss of -9,825

Re: What to Do About Form 8594?

DianeW777 — Mon, 13 Apr 2026 16:44:20 GMT

No, if you mail your federal return, you generally cannot e-file your state return. Print and mail your California (CA) as well.

@kangawoos

Re: how do i clear zero out of line 27a sch c

MaryK4 — Mon, 13 Apr 2026 16:41:32 GMT

Follow these steps to clear the zero:

.Go to Federal > Wages & Income > Self-Employment Income and Expenses.
Click Edit next to your business name.
Scroll down to the Business Expenses section and select Other Common Business Expenses.
Look for All other expenses or Energy Efficient Buildings.
If you see a $0 entered, highlight it and press Backspace or Delete. It must be blank, not "0" or "0.00".
Continue through the screens until you reach the Business Summary to save the change.

How do I know if I can do the Trust beneficiary accumulation distro? I have a k-1 from my Dad's Trust

chapman-janineproperties — Mon, 13 Apr 2026 16:35:22 GMT

Why, when I'm entering my driver's license info, am I getting an error that says that the document number's first 3 characters must be entered. I entered the entire thing

juliesunshine43 — Mon, 13 Apr 2026 16:31:48 GMT

how do i clear zero out of line 27a sch c

rlcobb1069 — Mon, 13 Apr 2026 16:31:05 GMT

Re: How do I enter a final K-1 if my S-Corp (Form 1120S) shares were redeemed,

Mike9241 — Mon, 13 Apr 2026 16:29:32 GMT

enter the K-1 as normal and check final K-1. Enter or quickzoom to enter disposal. in the disposal subsection enter the data. such as dates, redemption price, and tax basis.

Re: Can I file my Schedule C expenses with the free version of Turbotax

DoninGA — Mon, 13 Apr 2026 16:28:35 GMT

No. The Free online edition does not support Schedule C.

You would need to use the TurboTax Premium online edition for the Schedule C - https://turbotax.intuit.com/personal-taxes/online/premium/

Re: Eligibility to take self-employment health insurance deduction in 2025 as a federal retiree w...

ThomasM125 — Mon, 13 Apr 2026 16:27:56 GMT

Correct, since you have a plan that is subsidized by your employer, you do not qualify for the self-employed health insurance deduction.

Can I file my Schedule C expenses with the free version of Turbotax

kf — Mon, 13 Apr 2026 16:27:14 GMT

How do I enter a final K-1 if my S-Corp (Form 1120S) shares were redeemed,

sean — Mon, 13 Apr 2026 16:24:35 GMT

Re: Hobby

Mike9241 — Mon, 13 Apr 2026 16:24:01 GMT

The good news is that since it's not a hobby, the expenses are deductible. Hobby income is taxable, but expenses are not deductible. As earned income, you can't avoid the SE tax, but if you don't want to pay income taxes, we might have suggested contributing to a retirement account or even an HSA. any of these would have to be done by 4/15

Re: What to Do About Form 8594?

kangawoos — Mon, 13 Apr 2026 15:59:40 GMT

If I enter the sale of my business into TT and use it to calculate and print out my return, then manually attach form 8594 and mail it in, do I also need to mail in my California state return or can I still e-file my California return using TT? Thanks again in advance!

Re: I have a Trust for which I received a 1041 (West Virginia), how do I document this? I live in...

ThomasM125 — Mon, 13 Apr 2026 15:57:26 GMT

You enter the trust K-1 schedule in the Wages and Income section, then Business Investment and Estate/Trust Income. Choose the option that says Schedule K-1. The next screen will say Tell us about your Schedule K-1 and you will see an option to choose Estates or Trusts (1041). The interest income should be listed in box 1.

Re: What to Do About Form 8594?

DaveF1006 — Mon, 13 Apr 2026 15:44:19 GMT

No, sending your return twice (once via e-file and once via mail) is not a good idea. Doing so can trigger a "duplicate return" error in the IRS system, which often leads to significant processing delays or manual reviews of your account.

Here is the breakdown of your options and the best way to handle this.

Since TurboTax cannot generate and include Form 8594 in the e-file transmission, the safest route is to print and mail your entire return. Since Form 8594 is required to be "attached" to your return, the IRS expects all parts of a return to arrive together.

While mailing is slower than e-filing, a single, complete paper return is processed much faster than a "messy" account that requires matching up an e-filed return with a stray form sent later.