AmeliesUncle
Level 15
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1) That can only be corrected by amending. Using an incorrect Basis is NOT a Method of Accounting that qualifies for Form 3115, so amending is the only way to c...
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Is that LLC taxed as a corporation?You are right; TurboTax phrases it incorrectly. If you have an ownership interest of the PAYER of the tip you don't qualify f...
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@HikingTaxGuywrote:If you are doing a backdoor ROTH don't use TurboTax online, you have to use the Desktop version.buy the Desktop and don't fool around with th...
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TurboTax does not use the depreciation "tables" for depreciation (unless you go into the "Forms" and specifically tell it to use the "tables"). It uses a mathem...
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@RETIREDGRANDDADwrote:I was wondering if it would simplify things if I were to attach the 1009S to my return with an explanationThe IRS will not look at anythin...
Activity Feed for AmeliesUncle
- Got Cheered for Re: How to report rental property that belong to the Single Member LLC. 5 hours ago
- Got Cheered for Re: Asset value Depreciation started in 2021was incorrect, do I amend returns 2021-2025 or fill out form 3115?. 9 hours ago
- Posted Re: Asset value Depreciation started in 2021was incorrect, do I amend returns 2021-2025 or fill out form 3115? on Get your taxes done using TurboTax. yesterday
- Cheered Re: Turo Rental - Was vehicle primarily use by someone who owns more than 5%... for AnnetteB6. yesterday
- Got Cheered for Re: Why is it saying 0 current depreciation for my listed property (vehicle used 50% or less in a qualified business use)? Basis is greater than prior depreciation.. yesterday
- Got Cheered for Re: I amW2 of LLC I own. My tip income is reported to LLC. Turbo Tax is saying since I own the LLC I don't qualify for no tax on tips. IRS say otherwise. Now What?. Saturday
- Cheered Re: Why are my deductible losses from rental income still capped at $25,000 even though I am a real estate professional and an active participant? for M-MTax. Saturday
- Posted Re: I amW2 of LLC I own. My tip income is reported to LLC. Turbo Tax is saying since I own the LLC I don't qualify for no tax on tips. IRS say otherwise. Now What? on Business & farm. Saturday
- Got Cheered for Re: Passive Activity Loss Carryforward. Saturday
- Got Cheered for Re: Sale of IRA held real estate.. Friday
- Posted Re: If you do backdoor ROTH, DONT use Online version on Get your taxes done using TurboTax. Friday
- Cheered Re: I am 17 but was told i could no longer be filed as a dependent, how do i file my taxes? for Vanessa A. Friday
- Posted Re: Current Depreciation Calculation for Year 2 5YR property with a change in Business Use % on Get your taxes done using TurboTax. Friday
- Posted Re: Sale of IRA held real estate. on Investors & landlords. Friday
- Got Cheered for Re: Sale of IRA held real estate.. Friday
- Posted Re: Is it possible to get my taxes back from H&R block and let u all do them. Because no one there seems to know what they are doing on Get your taxes done using TurboTax. Friday
- Posted Re: TurboTax is not calculating 0% LT Capital Gains for my total earnings of less than $40,000 on Get your taxes done using TurboTax. Friday
- Posted Re: Why is it saying 0 current depreciation for my listed property (vehicle used 50% or less in a qualified business use)? Basis is greater than prior depreciation. on Deductions & credits. Friday
- Cheered Re: Why is it saying 0 current depreciation for my listed property (vehicle used 50% or less in a qualified business use)? Basis is greater than prior depreciation. for user17731142590. Friday
- Posted Re: Tip Deductions on Get your taxes done using TurboTax. Friday