Today the President signed the Inflation Reduction Act of 2022 into law,
which includes new tax provisions, extensions, and expansions of tax
benefits related to energy efficiency and healthcare. Here are some
resources to help you understand the pro...read more
There is an additional standard deduction for taxpayers age 65 and over,
which was $1,550 each for married filing joint (MFJ) on the 2024 federal
Form 1040, which I believe is $1,600 per person MFJ on the 2025 return
(to be filed in 2026). The recent...read more
afletchertfcPosted a week ago
| Latest post yesterday by
rjs
Will overtime deduction reduce my adjusted gross income or only my
taxable income? For example, our adjusted gross income $136000 (married,
filed joint return) and my qualified overtime is $5000. What will be our
IRA contribution limit? With $136K it...read more
ir63Posted Saturday
| Latest post Saturday by
NCperson
I made a deal with my kids that I would match their earned income (up to
the maximum) until they reach age 21 to put into a Roth IRA. I figured
it would give them a good start when they get out of college. One of my
kids just finished his Freshman ye...read more
jimshanePosted 2 weeks ago
| Latest post 2 weeks ago by
NCperson
Will there be an update for 2024 TurboTax Deluxe with the new tax
regulations due to the New One Big Beautiful Tax Bill so that we can
properly calculate 2025 estimated Taxes? If so when might that update be
available? Thanks
SCswedePosted 2 weeks ago
| Latest post 2 weeks ago by
NCperson
0
2
This answer has been verified for accuracy by an Intuit expert employee
RMD
Does the entire amount of my RMD count towards my AGI?
I am 72 yr. old single male,, with SS income yearly @ $20.076,, and
income from CD's yearly @ $6,400,,,,,If take 50% of $20,076 =
$10,038.... and add $6,400 from CD's = $16,438,,,, So,,, can I still
make $8,562 before I have to file federal taxes?? t...read more
Russ11Posted 4 weeks ago
| Latest post 3 weeks ago by
NCperson
Hello,Why doesn't claiming zero seem to help? My wife and I are
teachers, and each year, our tax situation seems to get worse and worse,
and we still owe more taxes. Any suggestions are welcome.Chip
chipc0310Posted May 21, 2025
| Latest post May 22, 2025 by
NCperson
Hi, I have a few questions regarding the MTM accounting.Q1. Do I have to
contact the IRS and get their approval first before making changes to my
account?Q2. Do I have to file anything like form 475f or 3115?Q3. How do
know if I'm a qualify trader? T...read more
Hello all…As the subject states, since the time to file and pay in
Florida has been extended to May 1st due to the hurricanes, is the time
to contribute to an IRA also extended to May 1st? I’m seeing mixed
answers…Any help would be appreciated.
While the message has be reposted to a more appropriate board, I'd still
appreciate help on this board :I have a similar question as
https://ttlc.intuit.com/community/taxes/discussion/reporting-capital-gains-on-sale-of-land-in-india-...It
was a diffe...read more
mjlsPosted April 13, 2025
| Latest post April 25, 2025 by
RobertB4444
I have 0 income on 1040 and it wont let me e-file because of this. I
have a 0 there because my 1099nec income was less than my expenses, thus
making the 0 on 1040. how can I fix so I can e-file?
DGO-wellPosted April 12, 2025
| Latest post April 12, 2025 by
KeshaH
I have a final schedule K-1 with box L showing Box 11.ZZ amount + STCG +
LTCG - Investment interest expenseBox 11.S is set STCG + LTCG.Box 11.ZZ
is DIVIDEND INCOME + INTEREST INCOME - MANAGEMENT FEES - OTHER
DEDUCTIONS + OTHER INCOMEI am unable to en...read more
My divorce was finalized 10/2024, but my ex-spouse was still on my
insurance until 12/2024. How do I calculate my percentage of the SLCSP?
I was the primary person paying for the premiums every month. My spouse
had no income for 2024