Nine years as Tax Expert with TurboTax; Certified Public Accountant (Texas, retired) since 1998; 20+ years of tax accounting, specializing in small businesses and partnerships
We have tested QBI for Schedule C but are unable to reproduce the experience you have seen.It would be helpful to have a TurboTax ".tax2025" file to test this i...
You can report interest on your tax return even if you didn't receive Form 1099-INT. If you are splitting the amount with another person, enter only the portion...
Please clarify the exact issue you are having with passive operating losses. If you see an error message within TurboTax, please provide a screenshot.
@cmthomp...
Because the boat was owned by the LLC, the conversion to personal use is actually a property distribution to the members who received the asset. This is recorde...
You can report all taxes you paid before you file under Deductions & Credits >> Estimates and Other Taxes Paid >> Estimated Tax Payments >> Federal estimated ta...