topic Re: Forms in Get your taxes done using TurboTax

If you need to prepare a return for 2016, 2017, or 2018 you can purchase and download desktop software to do it, then print, sign, and mail the return(s)

https://turbotax.intuit.com/personal-taxes/past-years-products/

Remember to prepare your state return as well—if you live in a state that has a state income tax.

When you mail a tax return, you need to attach any documents showing tax withheld, such as your W-2’s or any 1099’s. Use a mailing service that will track it, such as UPS or certified mail so you will know the IRS/state received the return.

Note: The desktop software you need to prepare the prior year return must be installed/downloaded to a full PC or Mac. It cannot be used on a mobile device.

Remember that each year must be mailed in its own separate envelope. Do not put them together or you risk one being overlooked or discarded. And state and federal returns go to different addresses.

Re: Forms sch D-1p1 sale of business

Marigray89 — Tue, 14 Jan 2020 04:59:19 GMT

why do I need to fill out the second form if I haven’t owned a business

Form 540
California Resident Income Tax Return		Ready soon

Sch D-1 p1
Sale of Business Property		01/16/2020

Re: Forms sch D-1p1 sale of business

DawnC — Wed, 15 Jan 2020 20:54:24 GMT

You don't necessarily have to have owned a business to need this form. The purpose of Schedule D-1, to report the sale or exchange of business property when the California basis of the asset(s) is different from the federal basis due to differences between California and federal law.

Use this form to report:

The sale or exchange of:
- Trade or business property
- Depreciable and amortizable property
- Oil, gas, and geothermal property
- IRC Section 126 property
The involuntary conversion (other than casualty or theft) of trade or business property and capital assets held in connection with a trade or business or a transaction entered into for profit.
The disposition of noncapital assets (other than inventory or property held primarily for sale to customers in the ordinary course of your trade or business).
The disposition of capital assets not reported on Form 100 or 100W, Side 6, Schedule D, California Capital Gains and Losses; Schedule D (100S), S Corporation Capital Gains and Losses and Built-In Gains; Schedule D (540 or 540NR), California Capital Gain or Loss Adjustment.
The recapture of IRC Section 179 deductions for partners, members, and S corporation shareholders from property distributions by partnerships, LLCs classified as partnerships, and S corporations, respectively. See Property Subject to IRC Section 179 Expense Deduction Recapture, under General Information B, Special Rules, for the reporting requirements.
The computation of recapture amounts under IRC Sections 179 and 280F(b)(2) when the business use of IRC Section 179 or 280F(b)(2) property drops to 50% or less.

If you don't feel that this applies to you, review your tax return as there is something entered into TurboTax that indicates a need for the form.