skycamper
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Activity Feed for skycamper
- Posted Re: Rental Refinance Fees not added to depreciation schedule on Investors & landlords. April 18, 2022 7:55 PM
- Posted Re: Can I still efile my 2020 return if I dont owe anything as of today 11/9/2021 ? on Get your taxes done using TurboTax. November 9, 2021 10:28 AM
- Posted Can I still efile my 2020 return if I dont owe anything as of today 11/9/2021 ? on Get your taxes done using TurboTax. November 9, 2021 10:23 AM
- Got Cheered for Re: Creating a 1040 from a 1040x. January 5, 2021 3:01 PM
- Posted Re: Creating a 1040 from a 1040x on After you file. January 5, 2021 1:33 PM
- Posted Creating a 1040 from a 1040x on After you file. January 5, 2021 8:26 AM
- Posted Re: What kind of education credit or student loan interest can we deduct? Im going in circles!! on Education. February 5, 2020 8:26 PM
- Cheered Re: What kind of education credit or student loan interest can we deduct? Im going in circles!! for Hal_Al. February 5, 2020 6:54 PM
- Cheered Re: What kind of education credit or student loan interest can we deduct? Im going in circles!! for DMarkM1. February 5, 2020 6:54 PM
- Cheered Re: What kind of education credit or student loan interest can we deduct? Im going in circles!! for Hal_Al. February 5, 2020 6:54 PM
- Cheered Re: I received a 2017 state refund in 2019 so I have a 1099-G for that , now TT is asking if I ma... for AmyC. February 5, 2020 6:36 PM
- Posted What kind of education credit or student loan interest can we deduct? Im going in circles!! on Education. February 4, 2020 10:06 PM
- Posted Re: I received a 2017 state refund in 2019 so I have a 1099-G for that , now TT is asking if I ma... on State tax filing. January 28, 2020 4:11 PM
- Cheered Re: I received a 2017 state refund in 2019 so I have a 1099-G for that , now TT is asking if I ma... for AmyC. January 28, 2020 4:11 PM
- Posted Re: What do I do if I don't know my landlords address? on State tax filing. January 27, 2020 10:10 PM
- Posted I received a 2017 state refund in 2019 so I have a 1099-G for that , now TT is asking if I made any payments. Why doesn't TT just take the info automatically from my 2017 return?? on State tax filing. January 27, 2020 9:38 PM
- Posted Re: When would I file a 2nd state return? on Get your taxes done using TurboTax. January 26, 2019 8:44 PM
- Posted Re: home mortgage and home equity loan on Get your taxes done using TurboTax. January 26, 2019 1:30 PM
- Posted Re: rental repair deduction question on Get your taxes done using TurboTax. January 26, 2019 1:22 PM
- Posted When would I file a 2nd state return? on Get your taxes done using TurboTax. January 26, 2019 1:15 PM
April 18, 2022
7:55 PM
I have this same exact problem. I refinanced my rental home in 2016 and have costs associated with that. Then I refinanced again in Oct 2021. I never deducted anything or thought of it until doing my 2021 taxes and TT asked me to basically to get rid of the amortized costs from the old loan. I wish I had screen shot what it said but I didnt. I tried making in an asset to expenses those costs to get the entire deduction but Im not sure where that goes. How do I do that without amortizing them at this point?
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November 9, 2021
10:28 AM
Shoot! Do you know when it closed and where that info is usually found? Why does turbo tax not warn us?? Seems like that would be a handy function! Thanks
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November 9, 2021
10:23 AM
Just been lazy and have not done this. Did 2020 federal efile close yet? We dont owe anything. Amazingly I cant find this info anywhere. Just alot of posts about when taxes are due. Not sure why Im having a hard time finding out if I can still efile 2020 taxes. Help!
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January 5, 2021
1:33 PM
1 Cheer
That's a good idea to modify the original return and or use the printed 1040. Unfortunately, the OR-40 still says amended and I cant uncheck the box. No matter, modifying the originals with updated numbers seems best. Thank you!
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January 5, 2021
8:26 AM
Hi there, Im helping my dad file his 2017 and 2018 back taxes with the state of OR. He did file these with the IRS. Both files at the IRS have been ammended with 1040x. I called the Oregon Dept of Revenue and they told me they dont want copies of the amended 1040x and to file the oregon standard form OR-40 with the most current amended numbers from the 1040 but dont make it in the form of a 1040x. Use those numbers to calculate the OR-40 as well. I used Turbo Tax Home and Business since my dad has a schedule C and E. How can I get a 1040 from the current 1040x. How do I convert the 1040x to a 1040 with the current numbers without starting from scratch?
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Ok your answer makes sense to me. Yes she is by all definitions a dependent for this last transition year on our parents return. Shes 22, was a full time student for half the year, and lived at home. Parents AIG runs around $80K to $90K. So they do have tax liability. I was able to delete her as a student and re-enter the 1098T and we claimed the LLC. Thank you!!
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Im the sucker who does my families taxes such as parents, sister, brother, etc.... I have a situation, My sister has been in college full time since fall 2015 and as a dependent on our parents taxes since that time. So 2015, 2016, 2017, and 2018 we have claimed the American Opportunity Tax Credit (AOTC). Now here we are in 2019 and she was full time in the winter to spring 2018-2019 and graduated in June 2019. She lived mostly at home for 10 months of 2019 got a job and moved out, income of $12600 on her 2019 W2. Ok so far so good, she has almost no federal tax liability and is going to give Oregon a few hundred bucks. She paid $612 in student loan interest, had $8600 in tuition payments and $1682 in grants for 2019. I plug this info into my parents taxes and the deduction is $0 So I understand there is no more AOTC deduction since she has used up the 4 years. Ok. Turbo tax doesn't even bring up the Lifetime Learning tax credit or even any other education deduction after running through the entire education section. In addition, turbo tax says the $612 in student loan interest paid in my sisters name cannot be claimed and must be claimed on my sisters tax return. Ok go to my sisters tax return and plug it in and guess what?? Says no deduction can be had since she is a dependent claimed on my parents tax return. What?? This is the circle I was talking about. Why no lifetime learning tax credit or Hope tax credit and where can this student loan interest be deducted? It gets better, On my parents tax return it says my sisters $1682 in grants has to be counted as income on my parents taxes since tuition claimed of $8600 is not qualified. Any help appreciated! Thanks
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January 28, 2020
4:11 PM
Ok makes sense! None of those things applied to me so I just entered into "payments" my total state taxes withheld plus my refundable credits. Was this correct? Thank you!
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January 27, 2020
10:10 PM
Call and ask him, kindly text him or one of his relatives using a google search, use his last name to look up a county tax record, find him on facebook or similar, read lease agreement, ask property manager, ask neighbors to the house your leasing, ..........hope that helps..im probably missing a few more things...im a landlord and I would make certain you have it. Sorry thats happened to you.
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