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Rental Vehicle Expense

My car broke down and I had to rent a van for a few months instead of a car because I work on my rental properties myself. It would really help if I could deduct the actual expense of the rental van rather than claim mileage. Also, should I just spre... read more
centaur1905
centaur1905 ‎Posted Thursday | Latest post yesterday by AmeliesUncle
0
1

Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee Is there an Also Known As section for a Name Change

In the past, there has been a space for "also known as" next to name. I am not able to find that. The reason, I ask is the SSA has my new name on file after a name change, yet some 1099's have come in with my prior name. Is there an "also known as" s... read more
myamica03
myamica03 ‎Posted yesterday | Latest post yesterday by DoninGA
0
1

Is there a cap on Carry Over Loss that can be applied to Capital Gain in MA?

Regarding the State Tax Portion: In the state of Massachusetts (MA), I have a carry over short term capital gain (not from interests/dividends), and in the current tax year, I have a short term capital gain (not from interests/dividends), my question... read more
myamica03
myamica03 ‎Posted yesterday
0
0

How Does The Wash Sale Rule Apply For A Cover Called Assigned For A Gain & Loss On The Same Day

Hello, Today (12/20/24) covered calls for a stock I purchased last year were assigned (I sold the covered calls in November 2024). My current average cost price for the underlying stock is $6.32. Subsequently, 3 contracts of the underlying stock were... read more
TaxInTaxOut
TaxInTaxOut ‎Posted yesterday
0
0

Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee Passive Activity Loss Carryover and Stepped-up in basis

I understand the depreciation calculation starts over when a stepped-up in basis occur due to death inheritance. I also understand the depreciation recapture at that point will get wiped out.My question is what happens to the passive active loss carr... read more
sd847
sd847 ‎Posted yesterday | Latest post yesterday by sd847
0
3

limit of 45 entries on Schedule E

I have more than 45 entries for Schedule E
Sanger_Joe
Sanger_Joe ‎Posted February 14, 2020 | Latest post yesterday by PurrfectTaxes
0
5

Why does the summary show a line 12701 Capital gains reduction?

I've entered capital gains income and that shows as expected on line 12700. How is line 12701 calculated. It is not expected.
kryan0241
kryan0241 ‎Posted yesterday
0
0

Switching Versions carry forward Desktop

I am thinking about switching to Premier instead of Home and Business. Will my 2023 Home and business file carry forward in Premier 2024?
hamiltontait
hamiltontait ‎Posted yesterday | Latest post yesterday by xmasbaby0
0
1

WHICH TURBOTAX SOFTWARE DO I NEED TO GET

WHICH TURBOTAX SOFTWARE DO I NEED TO GET TO REPORT RENTAL INCOME & EXPENSES ON NEW HOME I BOUGHT?
johnvassil
johnvassil ‎Posted Thursday | Latest post Thursday by DoninGA
0
2

Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee Tax loss harvesting: 30 day rule

Hello, I am new to this tax loss harvesting strategy as we approach the end of the year. I understand how it works, but I am having trouble with the gray area of the wash-sale rule. For example: I first purchased stock A back in September 18 of this ... read more
bt_21
bt_21 ‎Posted Tuesday | Latest post Thursday by fanfare
0
6

Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee Capital Gains Partial Exclusion

IRS Pub 523 lists five unforeseeable events and then leaves the the door open for more by saying "An event is determined to be an unforeseeable event in IRS published guidance." Where can I find this guidance? We bought a house in Florida and moved f... read more
runrunhans
runrunhans ‎Posted Wednesday | Latest post Wednesday by rjs
0
2

In 2016 I was given stock options by my employer. This year, my employer sold the company. All my options were converted to shares and sold as part of the deal. LT gain?

jim-sobczak
jim-sobczak ‎Posted a week ago | Latest post Wednesday by jim-sobczak
0
2

How to enter Capital Gains in Business & Home 2024 to figure out loss harvesting?

Want to enter my current Stock Capital Gains to figure out whether to loss harvest before year is out. Business and Home 2024 doesn't have forms available yet, tried to find Schedule D manually don't see, so wondering how/where to enter to simulate t... read more
psyadam
psyadam ‎Posted Monday | Latest post Wednesday by Mike9241
0
9

new rental property can I deduct insurance paid prior to closing

I purchased a new rental property in fall 2021. I had to provide proof of insurance prior to closing, so it was paid before I owned the house. We spent a few days cleaning, etc. prior to offering it for rent (if that makes a difference?). Can I deduc... read more
saltydogflorida
saltydogflorida ‎Posted February 14, 2022 | Latest post Tuesday by phillip-laroche
0
3

How do I change the amount of rent I claimed on my form

How do I go back and change the amount I claimed on my form
frances2590
frances2590 ‎Posted Tuesday | Latest post Tuesday by xmasbaby0
0
1
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