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a week ago
Agree with you 100%. That said, the upcharge for migrating to the online pricing model for desktop Win 10 would still cost far less than the cost of purchasing a new Win 11 compatible PC for those of...
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Agree with you 100%. That said, the upcharge for migrating to the online pricing model for desktop Win 10 would still cost far less than the cost of purchasing a new Win 11 compatible PC for those of us running PCs that cannot accept Win 11 -- or without taking on additional risk to attempt any complex technical workarounds that are way beyond our capability in order to install Win 11 and run TT for Win 11 on our existing machines.
a week ago
if the $10K is on the 5329 is a penalty. not an income tax payment probably 10% of the missed RMD.
you took the 2023 RMD distribution in 2024 during the correction period, so you should report it o...
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if the $10K is on the 5329 is a penalty. not an income tax payment probably 10% of the missed RMD.
you took the 2023 RMD distribution in 2024 during the correction period, so you should report it on your 2024 tax return. The RMD is considered a distribution from the previous year, so it should be reported in the year it was taken. This is important to ensure that you are accurately reflecting your income and any applicable penalties or interest on the RMD.
the IRS can waive the entire penalty but that requires a statement as to the reasonable cause for the failure and only the amount of penalty you are not waiving would be on the 5329. It's probably best at this point to consult with a tax pro.
a week ago
How do I ensure that that the Safe Harbor Election for Small Taxpayers is attached to my 2024 1065 in Turbotax Online Business Assisted? I am expensing a $2,400 refrigerator for a residential rent...
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How do I ensure that that the Safe Harbor Election for Small Taxpayers is attached to my 2024 1065 in Turbotax Online Business Assisted? I am expensing a $2,400 refrigerator for a residential rental unit and meet the threshold criteria. I can't find where I go to complete the safe harbor form in TT. I have included the $2,400 in the expenses for the residential rental property. I did not set up the refrigerator as an asset. Thank you
a week ago
The CD loadable desktop version is already expensive enough. Decidedly so for those of us fully retired on fixed incomes. I have no doubt that unless they've added software specific to check the v...
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The CD loadable desktop version is already expensive enough. Decidedly so for those of us fully retired on fixed incomes. I have no doubt that unless they've added software specific to check the version of Windows that the 64 bit version of Turbo Tax will run equally well on both Win 10 and Win 11 machines. But, lack of support is the issue. You have a Tax problem using it on a Win 10 machine and then it's hands off, you are on your own. They could provide recommended AV information. Like Malwarebytes and one additional AV app. And, premium pricing should you need support having used a Win 10 machine.
a week ago
@reza_mr29 ,
(a) what is your tax/immigration status now and in 2023 ? US person ( citizen/GreenCard/Resident for tax purposes )? I ask because from your post it sounds like you were a NRA duri...
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@reza_mr29 ,
(a) what is your tax/immigration status now and in 2023 ? US person ( citizen/GreenCard/Resident for tax purposes )? I ask because from your post it sounds like you were a NRA during 2023 and also unsure of 2024 status.
(b) Did you have income during 2023 calendar year ? What kind of income ?
(c) Did you have a tax ID for the year 2023?
(d) Which country are you from ( in case there is a tax treaty consideration )?
(e) How / which forms did you file for 2024?
As you can see from the questions above, we have very little information ( in your post ) help you .
Please answer my questions. I will circle back once I hear from you --yes ?
a week ago
Yes, Windows 11 will need updates, too. And, Windows 11 machines will be actively receiving them. After October Windows 10 machines will no longer be getting security updates, hence Intuit's panic...
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Yes, Windows 11 will need updates, too. And, Windows 11 machines will be actively receiving them. After October Windows 10 machines will no longer be getting security updates, hence Intuit's panic. Not everyone that uses Intuit's software can be trusted to use adequate additional aids to protect their data. Can you imagine the outcry and damage to Intuit's reputation if half their customer base starts crying about getting their tax information hacked?
a week ago
Another option for Intuit: If the issue is really the profit earned on an online version vs desktop version, increase the revenue stream (pricing model) of the desktop Win 10 version to equate to the...
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Another option for Intuit: If the issue is really the profit earned on an online version vs desktop version, increase the revenue stream (pricing model) of the desktop Win 10 version to equate to the revenue stream (pricing model) of the desktop version and do so for both Win 10 and Win 11. The impact of the marginal price increase for desktop users would pale in comparison to the impact both financial and otherwise from being "forced" by Intuit to purchase a Win 11 compatible machine and effect the transition.
a week ago
I plan on an IRA to Roth conversion at the end of 2025. This conversion will significantly increase my income and my income taxes for the year. Do I need to increase my regular monthly Fed tax dedu...
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I plan on an IRA to Roth conversion at the end of 2025. This conversion will significantly increase my income and my income taxes for the year. Do I need to increase my regular monthly Fed tax deductions now to account for the anticipated increase in taxes for the year? Thanks, DR
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a week ago
@3ddoran considering government agencies, hospitals, schools and even megacorporations have been hacked, all probably using security measures greater that what yours provide, there's no guarantee you...
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@3ddoran considering government agencies, hospitals, schools and even megacorporations have been hacked, all probably using security measures greater that what yours provide, there's no guarantee you won't be hacked. but then again hackers may switch their focus from W10 to W11 and W11 is not a finished operating system. It may be more secure, but it is not hackproof.
a week ago
I don't buy Intuits security concerns. W11 will also need security updates.
a week ago
Thank you. The persons are not related at all.
a week ago
You will receive a 1099-misc which you report in the TurboTax program. You might consider making estimated federal and state tax payments to cover your unexpected tax liability.
a week ago
I received a letter requesting that I complete and send a Schedule SE to determine the tax about owed.
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a week ago
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a week ago
What was needed for W11 support? The on-chip TPM support? or does the kernel used one of the newer x86 ISA additions and instructions? [I'm a compiler developer so I keep up with these things] Giv...
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What was needed for W11 support? The on-chip TPM support? or does the kernel used one of the newer x86 ISA additions and instructions? [I'm a compiler developer so I keep up with these things] Given that people are running W11 on these "older" systems using rufus or something else, I don't think they are building the EXE file with the additional instructions. There might be errata on older chips that could open up exploitations they have no OS-level workaround. However, I've never seen such a list [and I doubt that would be public knowledge]
a week ago
I won a 1967 Ford Mustanf Fastback Shelby GT500 Restomod car this year. I am wondering how I will have to account for the win in this years taxes.
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a week ago
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a week ago
Thank you dmertz 🙂
a week ago
Be prepared and plan ahead for differences in your tax refund or balance due - hopefully in a good “more money in your pocket” kind of way! Let’s clear up the confusion about major changes in tax ...
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Be prepared and plan ahead for differences in your tax refund or balance due - hopefully in a good “more money in your pocket” kind of way! Let’s clear up the confusion about major changes in tax deductions such as no tax on tips, Social Security, and overtime. Or maybe your concerns are around the changes to the Child Tax Credit or energy credits. Rest assured - TurboTax is there to help you maximize your refund!
Taxes 2025-2026: One Big Beautiful Bill Tax Law Changes and How That Impacts You - A nice overview of the common changes!
Trump's Tax Proposals: One Big Beautiful Bill Summary & Tax Changes - Similar to the above, but with a Q&A style to help easily guide you.
Navigating Tax Reform: One Big Beautiful Bill Tax Changes - Are you more visual? This one has graphics that summarize major changes.
Child Tax Credit for 2024-2025 - There’s a little increase for 2025 and changes to who qualifies.
2024-025 Energy Tax Credit: Which Home Improvements Qualify - Hurry! Get your energy improvements done now - the credits expire after December 31, 2025..
Free Tax Reform Calculator - Pick a scenario and go from there! How great is that?!
BONUS - Here are direct links to certain tax provisions - especially for those who like to go directly to the source - the H.R.1 - One Big Beautiful Bill Act. Bill text on qualified tip income Bill text on qualified overtime compensation Bill text on employer credit for child care expenses to employees Bill text on child tax credit increase to $2,200 per child in 2025 Bill text on personal exemption tax deduction for individuals 65 years and older Bill text on termination of residential energy credits
If you need tax advice or have questions that aren't answered in the links above, please ask in our Taxes forum that best fits your needs!
a week ago
This should be easy, I've done it before, but this year I'm seeing something about converting my CSV file...
