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Questions tagged [turbotax]

For questions about using Intuit's TurboTax software

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3 votes
0 answers
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Independent contractor for a Canadian company with no 1099 for 6 months then under US payroll with W-2. What to do?

I am a US permanent resident and I was working for a Canadian company as an independent contractor for the first half of 2015 without any 1099s and they wire transfer my wages directly into my US bank ...
Arin Ghazarian's user avatar
2 votes
0 answers
107 views

Why does Turbotax ask to enter Form 8938: Interest II schedule even when there is no interest?

Does the IRS require me to enter Form 8938: Interest II schedule even when there is no interest, or is that just Turbotax asking for unnecessary information? The same issues arise for all other Form ...
Franck Dernoncourt's user avatar
2 votes
0 answers
90 views

I've made an addition to my home: how to I reflect the adjusted basis for home office deduction purposes?

For some years I have operated a home office, and taken the home office deduction. The home office deduction (at least prior to the introduction of the simplified method) mandates calculating ...
Bryce's user avatar
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1 vote
1 answer
231 views

Why did the IRS refund me the penalty?

Assumptions (Normal w2 job, index fund investments with dividends but no taxes witheld no other weird financial products), For FY23, I had $56,472 owed and $47,392 paid thus requiring having to pay $...
PHV's user avatar
  • 21
1 vote
0 answers
45 views

royalty trusts in TurboTax

Trying to figure out how to get my taxes correct in TurboTax. I have owned shares in several royalty trusts. At the end of the year, they come out with tax information. Here is an example: http://s24....
William Jockusch's user avatar
1 vote
0 answers
31 views

Question regarding reporting medical insurance, interest income and my address because of part-year stay in the US

I am seeking urgent assistance with my US tax filing (with TurboTax) for 2018 concerning part-year residency. I lived in the US between Jan-August and left the country for good thereafter. Keeping ...
Darth Coder's user avatar
1 vote
0 answers
97 views

Corrected 1099 resulted in less income, but now I owe more

I submitted my tax return weeks ago. And it has since been accepted. However, this morning I received an updated 1099 from my brokerage which resulted in a $1 difference (rounded). $1 dollar less ...
Kris Krause's user avatar
1 vote
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44 views

Do I have to report all the assets my s-corp disposed of on my personal taxes?

My s-corp issued me a K-1 with a huge list of assets that were disposed of (not sold). They are reported in box 17 as "K* STMT" (meaning code K, statement attached). TurboTax is prompting me to ...
spockdude's user avatar
1 vote
0 answers
145 views

Tax return rejected, received a check

I filed my tax return in 2015 using TurboTax and received a check from both federal government and state. I am currently applying for a loan. When I downloaded the tax return statement (from ...
Mocking's user avatar
  • 131
0 votes
1 answer
45 views

How to Calculate Excess Real Estate Taxes with two home offices?

My wife and I each have a home office in our home. I am using Turbo Tax to do our taxes, and it seems that our property taxes exceeded the $10,000 deductible limit. We get asked the same question for ...
Barry Chapman's user avatar
0 votes
0 answers
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How should I report a Foreign Financial Account that contains more than one currency on TurboTax?

I use Turbotax to prepare my taxes in the United States. How should I report a Foreign Financial Account that contains more than one currency on TurboTax? All currencies are in the same account number....
Franck Dernoncourt's user avatar
0 votes
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49 views

How do I file an inheritance on my New Jersey tax return?

I inherited a bit of money from a grandparent that passed away last year. New Jersey has an inheritance tax but from what I looked up close family inheritance is not taxable. I want to make sure ...
Chris's user avatar
  • 407
0 votes
1 answer
151 views

Which version of turbo tax has "The cost basis is incorrect or missing on my 1099‑B" in TurboTax in the case of vested RSUs?

The RSU cost basis is incorrect on my 1099-B' and it repost 0. Before the stock was available to me and company sold some of my shares as tax deduction.
 Qing's user avatar
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