Expert Alumni
Member profile
Activity Feed for LindaB1993
- Got Cheered for Re: Problem with Stock Donation Contribution to Charity. a week ago
- Got Cheered for Re: I opened a brokerage account with Fidelity under my S Corp last year and traded stocks and ET.... a week ago
- Got Cheered for Re: The basis of retirement income is reported in Box 9b of F.... a week ago
- Got Cheered for Re: The amount with code "W" in box 12 in your W-2 is the sum.... 3 weeks ago
- Got Cheered for Re: You cannot e-file this tax return because the intuit Electronic Filing Center is not open for.... 3 weeks ago
- Got Cheered for Re: I am a railroad employee and made payments for the year to railroad retirement and need to kn.... a month ago
- Got Cheered for Re: 1041 when to file. October 12, 2020 12:56 PM
- Got Cheered for Re: My state return came before my federal what does that mean? Federal has always come first and.... September 19, 2020 5:31 PM
- Got Cheered for Re: Theoretically, you can. https://ttlc.intuit.com/questions.... August 13, 2020 2:08 PM
- Got Cheered for Re: New Job (independent contractor) as a Restaurant Critic - how to report. July 11, 2020 11:58 PM
- Got Cheered for Re: Reporting covered call option transactions. July 10, 2020 8:47 AM
- Got Cheered for Re: when i tried to save PDF it says I have errors in my return. July 5, 2020 4:00 PM
- Got Cheered for Re: The amount with code "W" in box 12 in your W-2 is the sum.... May 7, 2020 11:22 PM
- Got Cheered for Re: Did the estate sell it or did your wife sell it after she.... April 5, 2020 9:32 AM
- Got Cheered for Re: QBI. April 4, 2020 3:46 PM
- Got Cheered for Re: Why can’t I enter my 1099-R? And do I even have to if there were no taxes withheld?. April 2, 2020 12:00 AM
- Got Cheered for Re: My husband died last year. My return keeps getting rejected with a AGI erro. The amount liste.... March 29, 2020 1:13 PM
- Got Cheered for Re: HEALTH INSURANCE. March 23, 2020 11:01 AM
- Got Cheered for Re: Wisconsin Rent Cert...I quit and saved my progress but when I came back to finish, it never g.... March 22, 2020 1:59 PM
- Got Cheered for Re: I filed an amendment for 2018, do I need to report the Money I get back from 2018, for 2019 t.... March 19, 2020 10:37 AM
February 20, 2020
1:10 PM
To enter form 1099-B for your investment income, follow these steps:
You'll enter this under the Federal Taxes tab (or Personal, if working in TurboTax Self-Employed/Home & Business),
Then select Wages & Income,
Then Investment Income,
Then Stocks, Mutual Funds, Bonds, Other. Follow the prompts to enter the 1099-B information
... View more
February 20, 2020
1:00 PM
You would show this distribution (which was the RMD) as inherited and put in his own IRA account. Although you must withdraw at least a minimum amount from your Inherited IRA assets each year, RMDs are generally based on your age rather than the age of the original IRA owner
... View more
February 20, 2020
12:44 PM
Please follow these steps to report the sale of your rental property. ( There is no "Tab" specifically for the Form 1099-S.
With your return open in TurboTax, search for rentals and then select the Jump to link in the search result.
Answer Yes to the question Did you have any rental or royalty income and expenses in 2019 for property you own?
When you get to Is This a Rental Property or Royalty? select Rental property and fill out the description, address, and owner.
When you hit Do Any of These Situations Apply to This Property? check the Sold box along with any other boxes that may apply.
Continue following the onscreen prompts to enter info about your rental property. Eventually you'll get to the Review Your [Property] Rental Summary screen. You can report the sale in the Sale of Property/Depreciation section, along with any other pertinent info (like income and expenses)
... View more
February 20, 2020
12:10 PM
You can deduct only the Ad Valorem Tax portion of the annual auto registration on your Federal Schedule A. The new Title Ad Valorem Tax (TAVT) does not appear to be deductible for Federal or Georgia purposes. In order to be deductible as a personal property tax, it must be imposed on an annual basis.
... View more
February 20, 2020
12:06 PM
Although the rule is designed for the credits to reflect on one return and the dependent on another, Efiling both returns causes the second one to automatically reject. The mailing option is the alternative for the second return. It will be manually processed by IRS.
... View more
February 20, 2020
11:59 AM
1 Cheer
This benefit is attributable to the Tax Reform Act.
The Tax Cuts and Jobs Act added Section 199A which affords certain individuals a deduction of 20% of qualified REIT dividends subject to certain holding period requirements. The entire portion of our ordinary dividend distribution is considered a "qualified REIT dividend" for purposes of Section 199A.
... View more
February 19, 2020
8:56 PM
If you need your child's Social Security card, visit your local Social Security office. You also can call SSA at 1-800-772-1213 (TTY 1-800-325-0778) between 7 a.m. to 7 p.m., Monday through Friday.
If it is on a prior year's tax return and you used TurboTax to prepare your return, you can download a PDF of the prior year's return to retrieve the number.
... View more
February 19, 2020
8:49 PM
If you return has been filed and accepted by Internal Revenue Service, no further action is necessary.
... View more
February 19, 2020
8:47 PM
You will not be able to file electronically with an inaccurate social security number for your daughter.
... View more
February 19, 2020
12:32 PM
1 Cheer
You may use the 2019 Form 1041 to close out the estate if you opt for a fiscal year end. The executor or trustee can opt to use a fiscal year instead. In this case, the tax year would end on the last day of the month preceding the first anniversary of the decedent's death. In most cases, Form 1041 is due to the Internal Revenue Service within four months of the close of the tax year.
The executor or personal representative of an estate must file Form 1041 when a domestic estate has gross income for the tax year of $600 or more, or when one or more of its beneficiaries are nonresident aliens. In this case, the estate would have to file a return even if it earned less than $600.
An estate or trust can use December 31 as its tax year-end date, or it can use any other month as long as that first year does not cover more than 12 months. Most estates begin their tax years on the date of death and end them on December 31 of that year,
... View more