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On my amended 2018 state tax return TT provided a cover page indicating I had a $24 refund due. I spent a lot of time and effort dealing with the state tax people trying to get my refund. It turns out that the actual return did NOT show a refund but a penalty (it was $24). I don't expect TT to pay the $24 as I should have double checked the return, but there should be an easy way to inform TT of their erroneous cover sheet summary so that this does not happen again or to anyone else. The TT program, in effect, showed the $24 penalty on the return as a tax refund on the cover sheet. A lot of wasted effort on my part and on the part of my state's tax officials.
2019 Turbo Tax "Arkansas state" software not calculating return. Entered $0 state withholding owe $0. Entered $9,000 withholding $0 refund
Withdrew some funds from a life insurance policy. Distribution code 7D on the 1099R is being treated by Turbo Tax as a death instead of Normal Distribution - Annuity payments from nonqualified annuities that may be subject to tax under section 1411. Using Turbo Tax Premiere 2019.
Please disregard - was able to correct.
I believe I've detected a software error. I have a capital loss carryforward. The program uses my past year's information and, correctly, calculates that I have a capital loss carry forward of 2740. I get the "Good News!" message and the detail of the calculation. Then I hit continue, but the 1040 schedule line for capital loss carry forward remains at 0. No update is made by the software to the actual return.
Have you entered any capital gains / losses into the software in addition to the capital loss carryforward? Has the capital loss carryforward offset net gains on Schedule D resulting in a net of zero?
Where are you looking in the 1040? Do you have access to any forms other than the forms you can see here?
Can you view Schedule D Capital Gains and Losses lines 6 or 14? The capital loss carryforward may also be reported on a Capital Loss Carryover Worksheet. See here, page D-12.
My estimated taxes paid went to (2) two areas, one in estimated tax, where they are suppose to go and another, to wages and income. Your taxes paid are not earned income. Please advise. Joanne
My wife passed away Feb 12, 2019.
I filled my 2018 return after her death and stated that on the return.
I started my 2019 return and imported 2018 data.
I selected "filing separate" and then added my new wife (married 12/31/19)
Now Turbo Tax says that it needs my new wife's date of death.
Using Turbotax Premier 2019 Mac Download
For a Residential Rental Capital Improvement/ Flooring Depreciation
I entered it as a Real Estate Property/Appliance, Carpet
cost = 5557. In Service Date 7/25/2019. I chose to spread the deduction over 5 years. TT used % year/HY/200DB and calculated 2019 Expense of 1115.
It appears that TT depreciated the flooring over 5 years equally ( 1115/yr) and did not prorate the first year (2019) based on when the Flooring was installed ( In service Date - 7/25/2019). Is TT correct? or should the first year Depr amount be prorated based on the In Service Date
If you had placed more assets into service than just the flooring, then a different convention (other than half-year) may have been used. For the depreciation details you shared, using 20% of the basis for the first year is correct. It is the subsequent years that will be different amounts.
For property with a 5-year recovery period, being depreciated using MACRS, half-year convention/200DB, 20% of the basis is calculated for the first year the property is in service. Subsequent years will be 32%, 19.2%, 11.52%, 11.52%, and 5.76%.
See the following excerpt from the IRS Publication 946 How to Depreciate Property:
Here is what I consider an error. When entering my information for my mortgage, my 1098 has $0.00 for property tax (box 10 on 1098) because we pay our prpty taxes directly to the county. However, on the next entry page in TTAX, the field for "Additional Property Taxes" is un-fillable. Therefore the only way to enter my prpty tax is to "fib" and enter it on the 1098 field. NOT GOOD!!!
Please contact us here at the link:
https://support.turbotax.intuit.com/contact/
Trying to pay for standard tax, but won't take my bank card number. Netfile not activated till 24th??? How do I file then.
Teresa Weir
Are you getting that message when you try to pay with your Netfile card? We do accept prepaid cards.
Here's a list of the forms of payments that TurboTax accepts.
What forms of payment does TurboTax Online accept?
This help article will show you how to pay fees within TurboTax.
How can I pay my TurboTax Online fees? - Community
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