That was established two days ago. ... View more

If you have an RMD from an IRA, you will encounter the screen as you go through the interview process. See the screenshot below. A QCD is a direct transfer of funds from your IRA custodian, payable to a qualified charity. QCDs can be counted toward satisfying your minimum required distributions (MRDs) for the year, as long as certain rules are met. In addition to the benefits of giving to charity, a QCD excludes the amount donated from taxable income, which is unlike regular withdrawals from an IRA. Keeping your taxable income lower may reduce the impact to certain tax credits and deductions, including Social Security and Medicare. ... View more

Here are the steps for deleting unwanted forms in TurboTax Online: Open your return in TurboTax. (To do this, sign in to TurboTax, and select the Take me to my return button.) In the left side bar, select Tax Tools> Tools. In the pop-up window Tool Center, choose Delete a form. Select Delete next to the form/schedule/worksheet and follow the onscreen instructions ... View more

That you pay others? Enter it under wages. ... View more

Wages are reported on your W-2 and are not entered on Schedule C. Income that is reported can be called several thing; self-employment, independent contractor, or non-employee compensation. There are two ways to enter your income on Schedule C, depending on whether or not you had a 1099-Misc. HOW TO ENTER without a 1099-MIsc  You can enter the words, "self employed income" in the search bar and click FIND. When asked "Did you have any self-employment income or expenses?" select Yes You'll see the screen titled "Tell us the type of self-employment work you do." Enter your description, then Continue On the next screen "Let's get income for [description]" select the button Additional income. Includes 1099-K, check/cash payments and Continue  The next screen will say "Tell us about additional income for your [description] work." List descriptions and amounts on this screen ... View more

You can print the entire return, once it is paid for. To view all forms, schedules, and worksheets in your return: 1.       From the My Account drop-down at the top, select Print Center. 2.       In the pop-up, click the first option (Print, save, or preview this year's return). If you haven't paid or registered yet, you'll be prompted to do so before you can view your full return ... View more

If you amend, no numbers will change on your return, so the 1040x will be meaningless. Wait to see if you hear from the IRS and then explain what happened. It may not even be an. Had you gotten a K-1, they would have received a copy. ... View more

A K-1 is issued by an S-Corp or a Partnership. If you do not have one of these or another business did not issue your LLC one, then you made an incorrect entry somewhere. If you have a sole proprpietorship, that would not issue you a K-1. You would enter all income and deductions on your Schedule C. Please see the screen shot below. QBI is calculated automatically based on your answers for your Schedule C. Q1. What is the Qualified Business Income Deduction? A1. Section 199A of the Internal Revenue Code provides many taxpayers a deduction for qualified business income from a qualified trade or business operated directly or through a pass-through entity. The deduction has two components. Eligible taxpayers may be entitled to a deduction of up to 20 percent of qualified business income (QBI) from a domestic business operated as a sole proprietorship or through a partnership, S corporation, trust or estate. For taxpayers with taxable income that exceeds $315,000 for a married couple filing a joint return, or $157,500 for all other taxpayers, the deduction is subject to limitations such as the type of trade or business, the taxpayer’s taxable income, the amount of W-2 wages paid by the qualified trade or business and the unadjusted basis immediately after acquisition (UBIA) of qualified property held by the trade or business. Income earned through a C corporation or by providing services as an employee is not eligible for the deduction. ... View more

Form 8879 is an electronic signature document that is used to authorize e-filing. It is generated by the software using both the taxpayer's self-selected PIN and the Electronic Return Originator's (ERO's) Practitioner PIN.  Purpose of Form Form 8879 is the declaration document and signature authorization for an e-filed return filed by an electronic return originator (ERO). Complete Form 8879 when the Practitioner PIN method is used or when the taxpayer authorizes the ERO to enter or generate the taxpayer’s personal identification number (PIN) on his  on his or her e-filed individual income tax return. https://www.irs.gov/pub/irs-pdf/f8879.pdf ... View more

Yes. 21 Payments received during year. There is no formal closure. The fact that it is paid off and there will be no more Forms 6252 does that. ... View more