Quick question about missed RMD's Elderly parent passed away Jan 2024,
having taken RMD's since 2019 but not having taken RMD's for 2023
(illness) or 2024 (death). I understand that the RMD for 2024 should be
taken by me, the non-eligible designated ...read more
I filed taxes through a filing agent till 2018 and I used to have form
4562 for depreciation for rental property. But after switching over to
turbo tax I do not see 4452 for last 3 years and I thoght I will correct
that issue this year. I added depre...read more
ChandranPosted 2 weeks ago
| Latest post a week ago by
JulieS
I have been investing small amounts in the stock market for the past few
years and in the 2023 tax year I had realized losses. They only equal
about 300$. Should I include it in my tax return? In the past I have had
realized gains but as my income ha...read more
When entering a 1099-MISC from robinhood, it tries to create a new
business for me when it was just $9.00 worth. I have no idea why they
sent it via a 1099-misc instead of a 1099-DIV or other form. How do I
enter this without it saying I need to ente...read more
Shaned71Posted 2 weeks ago
| Latest post 2 weeks ago by
Shaned71
If I take the standard deduction, does investment interest expense
increase my basis because I was unable to take the deduction? Also,
under code AE the K-1 detail shows "Management Fees" and "Portfolio
Deductions", which I don't think are deductible...read more
jftaxusaPosted 2 weeks ago
| Latest post 2 weeks ago by
maglib
If my K-1 does not provide additional detail for code A "other portfolio
income (loss)", do I enter it under Schedule K-1 Additional Infromation
as line 4 "other portfolio income (loss) to be reported on Schedule E,
page 2" or line 5 "Other"? Thank y...read more
I need help in figuring out how to enter income received from a real
estate investment. I entered into a contract with a home builder in
which I up fronted capital to purchase land and build a new home. My
only involvement was up fronting the money. ...read more
Sal221Posted 2 weeks ago
| Latest post 2 weeks ago by
MonikaK1
I do not see where to enter the gain to recapture as ordinary income
from the sales schedule of public partnerships, so I entered it manually
by overriding it. The column g did not change. Gain subject to recapture
as ordinary income: 1000Part II, Li...read more
Form 4797 shows no detail from sales of partnership interests, such as
proceeds, cost, (columns b-f). It has only "From K-1s" and an amount in
column G. The sales schedule with the K-1 shows an amount going on Form
4797 as "gain subject to recapture ...read more
My 1040 Schedule E income is in NY, and 1040 Schedule C income is in HI,
TT posted the income to the wrong state tax form. Any suggestion how to
fix it?I tried to erase and re-do Schedule E and Schedule C; it did not
help.
I have a lot of ZZ codes in Box 20 that will have no impact on my return
as I live in a state that does not have a state income tax and this is
not in a IRA/Roth or Tax Exempt ownership. These are Box 20 ZZ1, ZZ2,
ZZ3, ZZ4 ($0 on all 3), ZZ5, ZZ6 and...read more
Hello, I thought I saw a calculator in Turbo Tax for estimated tax
payments for 2024. 2024 is the first year that I have to make estimated
tax payments since I'm no longer working. All of my income this year
will be made as Capital Gains, both short ...read more
Hello, I donated a stock with loss to charity but hold it for less than
one year.What value I can deduct from my taxes and is that good or bad?
For Example, the stock cost basis was 150 and I hold it for less than a
year and donated it while the valu...read more
T KPosted 2 weeks ago
| Latest post 2 weeks ago by
Bsch4477
In 2021, I sold my shares in a publicly traded LP. On my return, I
didn’t think the “This partnership ended in 2021” option applied since
the LP continued and I just sold my shares. I selected “Disposed of a
portion of my interest in 2021” & paid the...read more