Also put mine in in February...still no refund and the same crap when you go to IRS website (working on it). And now Turbo tax wants to be paid for the free tax preparation...free free free bull**bleep**! ... View more

Also see: IRS says stimulus check mistakes are among reasons for tax refund delays (msn.com) ... View more

Thank you. That's what the issue is then. I only received the letter and not my wife. I guess the IRS is right. I was hoping it was a computer mistake on their end. :( While it's not the outcome I wanted it's closure to an issue that was annoying me and I can rest now. ... View more

You will add it to the basis of the stock WHEN IT IS SOLD.   ... View more

No.    When dependent care expenses are paid by FSA funds they cannot be claimed.  Only the amount above the FSA may be claimed.  When entering your dependent care expenses the total amount of dependent care should be entered as TurboTax will deduct the FSA amount.      The idea behind the American Rescue Plan Act of 2021, enacted March 11, 2021, made the credit substantially more generous (up to $4,000 for one qualifying person and $8,000 for two or more qualifying persons) and potentially refundable, so you might not have to owe taxes to claim the credit (so long as you meet the other requirements).  This means that more taxpayers will be eligible for the credit for the first time and that, for many taxpayers, the amount of the credit will be larger than in prior years.    The amount of FSA you paid does not come into the calculation of the dependent care credit other than it is a deduction from the total dependent care expenses since you already received credit by the means of a reduction in your reportable income.       In answer to your question, you did not miss a step because the two amounts would not equal.   FSA amount is one piece and you receive 100% of that amount as a credit on your W-2 in Box 1.  The other piece is the additional dependent care expense on the amount over the FSA amount.  The calculation is based on the excess dependent care only.  That amount is what falls under the American Rescue Plan Act of 2021.  The FSA amount has nothing to do with the American Rescue Plan Act of 20201.         ... View more

To check this, go into your bank records and see when your tax refund posted.  You can most likely do this online. If your refund posted to your account after April 15th, then the IRS would’ve paid you interest on a late-processed return, and that’s why you’re getting the form.  And, if you’ll compare the posted amount to the amount of the refund you claimed on your return, your actual posted refund amount should be higher than what you claimed on your return. See the IRS's Interest on Underpayments and Overpayments page for more information. ... View more

@kemo1a wrote: I understand your generic answer that release said it would be paid out by June it is now August I am looking for a more updated response unless there is none. @kemo1a  The more recent IRS news releases say that they would start to send out the unemployment refunds in May, and continue through the summer. Summer ends September 22. Of course, that's just an estimate. It could end up taking longer than they expect.   ... View more

Yes, you can use the 1099B section to enter your cryptocurrency sale (see below). Repurchase is not part of the equation except when the repurchased items are sold at which time the cost basis is needed.  Any gain or loss from actual transfers/sales is reported regardless of what the funds were used for. In TurboTax Online you will find Cryptocurrency as a selection under Investment Income In TurboTax Desktop you will enter Cryptocurrency as a Stock, Mutual Funds, Bonds, Other, under Investment Income Be prepared with the following information: Service name (examples: Coinbase) Asset name (examples: Bitcoin, Ethereum) Date of purchase Cost basis Date of sale Sale proceeds You can do a summary of long term and then short term combinations (long term holding is more than one year, short term holding is one year or less).   Make one entry for each. You can then send the worksheets or statement with Form 8949 after your return is accepted, attached to Form 8453. Sale date can be the last date a sale occurred or 12/31/2020 Purchase date can be 'Various'   If you are e-filing your tax return, then mail your statements along with Form 8453 to:    Internal Revenue Service Attn: Shipping and Receiving, 0254  Receipt and Control Branch  Austin, TX 73344-0254   If you need a blank Form 8453, you can download this pdf, enter your address information and check the box for Form 8949 (this form is really just a cover sheet). ... View more

If your 1099-B and form 8949 look the same then you did it correctly.  ... View more