Cindy0H
New Member
Member profile
Activity Feed for Cindy0H
- Got Cheered for You can have no income and still file as a self-employed.... August 29, 2020 1:56 PM
- Got Cheered for You will enter the 1099R in TurboTax on your 2018 tax ret.... August 12, 2020 11:37 AM
- Got Cheered for Since you are not 70 1/2, the RMD does not apply to you..... July 11, 2020 12:55 PM
- Got Cheered for There is an option to choose "no expiration date" for you.... April 22, 2020 2:28 PM
- Got Cheered for You do need to report the exercise of ISO stock if you di.... April 11, 2020 8:50 AM
- Got Cheered for Form 8332 is handled separately from the e-file. It cann.... April 7, 2020 1:48 PM
- Got Cheered for Since you are not 70 1/2, the RMD does not apply to you..... April 1, 2020 12:43 PM
- Got Cheered for You cannot change from standard to itemized deductions on.... March 7, 2020 2:35 PM
- Got Cheered for This is not self-employment income nor does it involve an.... February 29, 2020 12:23 AM
- Got Cheered for When going into the California Interview process, go to t.... February 22, 2020 11:55 AM
- Got Cheered for Property Index Number for Illinois is located on your cou.... February 20, 2020 5:11 PM
- Got Cheered for Unfortunately, income from Schedule E does not qualify fo.... February 16, 2020 10:42 AM
- Got Cheered for Go back into the interview process: Federal Other Tax Si.... February 15, 2020 4:27 PM
- Got Cheered for Since you are not 70 1/2, the RMD does not apply to you..... February 10, 2020 10:15 AM
- Got Cheered for Yes, you can deduct a supplemental insurance drug plan as.... February 6, 2020 5:37 PM
- Got Cheered for No, it does not. The form 1065 can be generated in TurboT.... February 3, 2020 6:26 PM
- Got Cheered for This is not self-employment income nor does it involve an.... January 30, 2020 6:09 PM
- Got Cheered for Yes, add them together. Renters: You must file Form M1PR.... January 30, 2020 5:17 PM
- Got Cheered for Yes, you can, but it is wise to go through your state one.... January 29, 2020 1:31 PM
- Got Cheered for There are two ways to delete it. If you delete just the S.... October 7, 2019 5:25 PM
June 7, 2019
5:44 PM
This is how you can retrieve old tax returns: You can access the returns filed using TurboTax Online for 7 years.
https://ttlc.intuit.com/replies/5574744
... View more
June 7, 2019
5:42 PM
The IRS requires you to amortize this initial franchise fee over 15 years, rather than all at once. The good news is that for the next 15 years, you’ll have that as a tax deduction! This will be entered as a business asset. Here's how:
Business Assets...start
Describe Asset....Intangibles
Amortizable intangibles
Describe... franchise fee...cost $49,500...date
None of the above
I used 100% for business...date you started using it
Code 197
The amortization amount is computed as if the asset will be held for 15 years. If it is not renewed at the end of the ten years, the remaining balance can be deducted in the 10th year.
If you have other questions about this, ask in the comment section below.
... View more
June 7, 2019
5:27 PM
Here's how:
https://ttlc.intuit.com/replies/3301977
... View more
June 7, 2019
5:25 PM
No, they are not. Schedule K1 is for partnerships, S-corporations, estates, and trusts. Schedule Q is for Real Estate Mortgage Investment Conduits. They are all potential sources of income. An IRA is a retirement plan, actually an Individual Retirement Arrangement.
... View more
June 7, 2019
5:23 PM
Medicare is not considered Obamacare. When going through the Health Insurance section, all you have to do is indicate that you have health insurance coverage all year (if applicable) and that you were not enrolled in other plans (such us Obamacare of Healthcare.gov plan).
... View more
June 7, 2019
5:17 PM
If your return will not change with the addition of the W2 (nontaxable) you will not need to amend. However, you can try amending and see if anything changes. If it does, amend it. If not, do not amend. Instructions for amending are not quite ready. Here is how to amend:
https://ttlc.intuit.com/replies/3288565
... View more
June 7, 2019
5:00 PM
You complete the information for this in the Michigan State Tax Return. Under the section "Michigan Credits & Taxes" you will start Home Heating Credit. There will be several questions about your situation. In case you don't know, here are the qualifications for this credit:
You can claim this credit if your household income is low, depending on the number of exemptions you claim on your return, and you paid home heating bills between November, 2017, and October, 2018. The maximum eligible household income is: $13,357 if you claim none or one exemption on your tax return $18,129 if you claim two exemptions $22,871 if you claim three exemptions $27.614 if you claim four exemptions $32,386 if you claim five exemptions $37,129 if you claim six exemptions The maximum household income of $37,129 increases by $4,743 for each exemption you claim over six. You may qualify for an alternate credit if your household income isn't over $14,472 and you claim none or one exemption if your household income isn't over $19,475 and you claim two exemptions or if your household income isn't over $24,483 if you claim 3 exemptions or if your household income isn't over $24,918 and you claim 4 or more exemptions.
... View more
June 7, 2019
4:58 PM
Here's how:
Sign in.
Scroll below and find "Add a State"
Pick up where you left off
Make your corrections
... View more
June 7, 2019
4:55 PM
Is there any way this could this be you? For tax years beginning on or after January 1, 2017, the Illinois Property Tax Credit is not allowed if a taxpayer’s federal Adjusted Gross Income (AGI) exceeds $500,000 for returns with a federal filing status of married filing jointly, or $250,000 for all other returns. If not, go back through the interview and make sure you have entered the PIN. During this process, TurboTax will tell you if you get the credit. If that is not the case, you can try to delete the state and try again.
https://ttlc.intuit.com/replies/3450510
... View more