I'm sorry for your loss. You don't give us much to work with here. If your only source of income for both of you in 2018 was SSI, then you are not required to file a return. So do either of you have "ANY" income in 2018 that was not from social security? If so, was any taxes withheld on that amount? ... View more

When you file and when they file really don't have much of a bearing on each other. But it's important that box "e" is checked on the W-2c.   ... View more

In all seriousness, I would highly suggest you take your banking needs elsewhere. Generally, I find credit unions better serve my needs beyond what any bank could even dream off.   ... View more

I own a condo with my husband and 3 kids that we bought when they were in college. So there are 5 owners? Do we depreciate 40 % of the property as if we are renting out our 40% share? If "we" in the above sentence is only you and your husband, and if there are 5 owners, then you only have 40% ownership together and that's the value you depreciate.  How you figure that 40%, depends on who paid what. For example, if you and your husband paid 100% of the price of the house (or are paying 100% of the mortgage on the house) then you will enter the total price of the house while claiming only 40% business use for "your share" of what you own. Yes, you may have paid 100% of the costs. But if there are 5 owners listed on the deed, then each owner owns 20% and each owner can only "control" their 20%. My husband and I have paid the mortgage, taxes and all the expenses and take the rental income from my daughters 2 roommates. So your husband and you will claim 100% of the expenses since you actually paid it. We also replaced all the flooring with carpet and laminate and paid 100% of that cost. How do we treat that expense. New flooring and carpet is not an expense. It's a property improvement that must be entered as such and depreciated over time.  If this was throughout the entire house, then you own 100% of that particular asset. While you will enter the asset cost as 100% of what you paid, you will only depreciate that percentage of it that is actual rental use by claiming only the appropriate percentage of business use for the asset. For example, if you have one daughter living in the house with two others and the two others are renters, then the business use percentage of that asset is 66%.  The other 33% is being used for "personal use" by a property owner (your daughter) for whom do you do not charge rent for the use of the remaining 33%.  I am dreading when you sell this condo and have to report the sale. It can be done with TurboTax. But in your case you will "really" have to pay close attention to detail. ... View more

That generally works just fine. All you do is provide a copy of the current rental contract along with your mortgage application for what would be your primary residence if the loan is approved. The only real thing that would matter to the lender is how much time you have remaining on the current lease, and/or what the early out options/costs are to break the lease early to move into your new residence. The early out options don't really matter all that much though. ... View more

Something to keep in mind too, is that the program is not complete and will not be complete until the IRS releases all the forms that you "may" need, in their electronic format. TurboTax can not include them in the program until the IRS releases them. I just don't see that happening until sometime after the shutdown ends. So depending on the complexity of the return you're dealing with, that could be a contributing issue, when combined with the fact that the SALT deductions are limited. If you're using the desktop version of the program, you can switch to forms mode to see the actual forms and worksheets used by the program and just "follow the numbers" to see what's going on. Additionally, for any calculations where the forms are not yet released by the IRS, the calculation worksheets will usually have something like "Do not File" watermarked across them, or at the top of the form or worksheet.  Now if you're using the online version, then the forms mode just flat out is not an available option. One thing you can do (with desktop or online) is in the search box enter "standard deduction" and click the find or search button. Then give it a minute, and when it appears click the "jump to" link. Work that through at that will at least allow you to see the itemized deductions you have entered in the program thus far and compare it to the standard deduction (also shown). It also allows you to "override" what the program selected, if you want or need to switch the deduction type. Now you keep asking if their are other possible deductions. We really can't know mainly because until the program is complete, it's perfectly possible that due to programming limitations you're not even being offered that possibility. That's why you should wait until "at least" the end of Feb to actually file the return. I myself would not recommend e-filing the return until the middle of March. ... View more

If she worked in Canada in January and February, how do we file those taxes? With the CRA or the IRS in the States? Both. Additionally, if the state you two work in taxes personal income, you'll also be filing a state return. As a permanent resident the U.S. will tax your world wide income regardless of where it was earned or came from. But the IRS does have a "credit" for taxes paid to foreign entities, which you will deal with in the "Foreign Income & Exclusion" section when you get to that point in the program. Do I file for head of household?  No. If your status was "married" on Dec 31 of the tax year, then you're only available filing status options are married filing joint, or married filing separate. Do note that for a married couple to file separately, is always more costly tax-wise than filing joint. When you file MFS you *automatically* disqualify yourselves for credits and deductions you'd otherwise qualify for by filing joint. Since kids are involved, you will pay more in taxes if you file separate. let Canada know she is no longer a Canadian resident?  Really can't answer that in this U.S. support forum. I can only suggest you seek help with this one in the TTX Canada support forum. But I can clarify that just because she may not be a CA resident, most likely does not change the fact that she is still a CA citizen.  But again, I'm not knowledgeable on CA laws at all. Doesn't matter if you adopted her son or not really, for taxes. If one of you qualifies to claim him as a dependent, then you will claim him as such on your joint return. I can't answer the healthcare questions myself, because as RET/MIL the ACA laws never really affected me.   ... View more

I know where you're coming from on the TurboTax Business stuff. Particularly when it comes to estates and trusts, moreso than corporations. There are tens of types of estates & trusts, and just as many ways each type can be set up. Combine that with the fact that state laws on estates and trusts vary widely among some states, and it comes down to knowing what you're doing. Now TurboTax Business can handle many types of estates & trusts. But not all, and not all situations. The varying state laws tend to make the program rather complex since it can't be "tailored" to any one state or any one situation within a state. One issue is that with a "living trust" (which is what I think you're dealing with) there are situations where if the trust was not set up correctly to begin with, when the owner of that trust dies, then the trust dies with them - meaning it's no longer a living trust. Then, that may or may not necessitate the formation of a "new" trust for the deceased with a completely new EIN and all assets of the deceased and the "new dead" trust being transferred into it.  Then disposition of assets has to be dealt with from the new trust. Now I've only heard of this particular situation one time in my adult life. That was on a "living trust" originally set up prior to 1985 or so and because of changes in the state law governing such trust, but the time the trust owner died in the 2000's, the only possible way to handle it correctly was for the "living trust" to die and everything be put in a new trust for disposition. Were it me in the position of trustee trying to deal with it, I'm sure to have screwed it up without professional help because I would have never figured out what I needed to do otherwise. Now-a-days I living trust can be set up so that it can be used for final dispositions. But since the one you're dealing was established back in the 90's, I'd not be willing to risk it on my own. ... View more

This is a first for me and I am a bit confused Then you need to STOP! IMMEDIATELY! Your confusion is going to be VERY VERY EXPENSIVE! Now understand I'm not being insultive here in any way. My intent is to help, not to judge. But it's quite apparent to me that you have no idea what you're doing, and probably don't even realize what you have done that very well may not only be wrong, but could possibly not even be legal if you didn't do it right. Heck, even I can figure it out based on the information provided, because you don't even know what information you yourself need, much less what you may need to provide here in order get a "useful" response. sold the home to settle the distribution requirements. Selling the house does not even come anywhere close to satisfying any distribution requirements. But it does create a potential tax liability for the sale, depending on whose name was on the deed prior to the closing on the sale. You need to stop and seek professional help immediately. Doing things wrong as the legally recognized/appointed administrator will cost "YOU PERSONALLY" in the form of fines, late fees, interest on past due tax liabilities and more. All of that adds up fast, and adds up to a very high dollar amount that makes the cost of professional help seem like a pittance in comparison. As the administrator of the estate, mistakes are not paid for by the estate. They are paid by "YOU" out of "YOUR" pocket. So I am urging you for the sake of your own finances, as well as those you may (or may not) inherit from the estate, SEEK PROFESSIONAL HELP IMMEDIATELY! I don't know what you deadline is for filing the estate return in your case, since the living trust was basically "frozen" as a living trust upon the passing of the person who owned it, but the late filing penalties are STEEP and come out of 'YOUR" pocket. So get professional help and get on this right now. If you get professional help, then it is perfectly possible for the trust to pay for that help. But if you do this on your own and screw it up, the trust does NOT pay for that. *YOU* pay for it.     ... View more

The three most common reasons are: 1) You claimed differing days of "personal use" of the property for those years of change. 2) You reported the property rented for less then 365 days of the year. 3) You took the property "out of service" for differing periods of time during those years. My guess in your case would be #2. I see that most often. Periods of vacancy between renters counts as "days rented" provided you did not live in or utilize the property for personal use for one single day during that vacancy.   ... View more