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If you no longer have a like-kind exchange, you will be able to remove Form 3840 as follows:
This should remove the state form and the like-kind exchange information linked to it.
If this information is pulling from your federal tax return, please see the following help article to help you remove the input there. Your state form is typically populated from your input on the federal section so checking this area may also be needed to remove Form 3840 if the input is in another area of the program.
Like-kind exchange information entered in the Federal section
Thanks for your answer. However, I could not find the Tax tools. Is it because I am using iPhone? TurboTax App?
Also, I hope you can help me with this inquiry:
I have a family of 4, I am the only one working at home. During the first stimulus check, I received money for myself, my wife and my daughter, but my young son was not included. Furthermore, he was excluded on the second stimulus check too. Can I report that on my 2020 tax? if yes, what form can I use?
Note: He was born on 10.25.2019 -- He was included in my 2019 tax return.
Thanks.
Instead of using the TurboTax App on your phone, open a browser on your phone and sign in to TurboTax there. Then you will find the menu @JotikaT2 mentions.
Yes, Include all dependents that you have on your 2020 return. The total Recovery Rebate Credit that you are eligible for will be added to your tax return. Any dependent age 16 or under that qualifies for the Child Tax Credit on your tax return will also qualify for the child stimulus payments.
Once you have completed entries for your federal return you will arrive at the "Federal Review" tab. There you will enter any stimulus payments you already received in rounds one and/or two. Your credit will be reduced by those amounts. What will remain will be any payments that you did not receive already.
Here is a link with more information on the Recovery Rebate Credit.
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