Business & farm

I can't file, it just keeps sending me through a loop of checking.

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Desktop vs web based for S-corp filing

Schedule K-3 questions? What do I enter on my tax return?

My LLC is an S-corp status, but I am the only shareholder and employee.

is it a deduction?

i am wanting to do my 2023 taxes how do i do this please help me

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MY DAUGHTER HAD STUDENT LOANS DISCHARGED. wHERE IN tURBO tAX DO i ENTER THIS INFORMATION

I just received my 2024 limited partner Final K-1 showing a Box 1 Ordinary Business Loss of $3,483.  Same amount is in Box 20, Code Z and Code AJ. I don't know why the loss isn't showing up in my desktop TurboTax 1040 calculations. There was no loss carryover from 2023. Any recommendations?

I AM LOOKING FOR THE 6 DIGIT BUSINESS CODE FOR DRAFT KINGS. IT IS NOT ON THE 1099-MISC 

I HAVE A SUBSTANTIAL ASSET THAT QUALIFIES FOR SECT 179 ON SCHEDULE E BUT THE FORM ONLY LETS ME SELECT SPECIAL BONUS DEPRECIATION.   I HAVE ENOUGH RENTAL INCOME PLUS A SECT 179 CARRYFORWARD TO ALLOW ME TO TAKE 100% SECT 179 DEDUCTION FOR THIS 2024 PURCHASED ASSET.   I'M SEEING SOME COMMENTS ABOUT THERE BEING SOME TYPE OF BUG IN TURBO TAX AND THAT IS WHY I CAN'T DO IT.  IS THAT TRUE?  IF SO, WHAT IS THE WORK AROUND?  MOVE MY ENTIRE SCHEDULE E OVER TO SCHEDULE C?

The Expenses that disappears and replaces your values with "NOT STARTED" are Other taxes, Insurance Premiums, Cleaning/maintenance, Utilities, and Other interest. The Real estate taxes, Mortgage interest, and Vehicle are still showing up.

Trust owns a seller financed receivable on which payments were received in 2024 related to sales of rental property in 2021.  Trying to figure out how to enter this in Turbo Tax Business and Trust version on the trust tax return.  First year filing the trust tax return.  I entered the sale in the rental property asset and disposal fields of the tax return but since the sale date was 2021 the software was giving me an message stating sale date must be  in same filing tax year (2024).  Also it doesn't ask me if the sale was seller financed loan.  How do I enter the income received in 2024 related to seller financed income in the Turbo tax  trust software?  Thanks.  

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When I entered the address, city and state I entered vt (vermont) instead of ut for (Utah). schedule E will not accept the zip code and it won't change the state on the work sheet. How do I change that?

My son is a full time college student. He earned $2000 income in 2024 from a college job. He has no other job and no other income (no interests, dividents, etc). He received a 1099-NEC for those $2000. Does he need to file taxes? And if so, can I include his income on my tax forms? I thought that one needs to file taxes if one makes above a certain amount (~$14000 in 2025), which he clearly did not. I tried inputting the form on my taxes, but Turbo Tax says he is ineligible as the income was earned, as opposed to unearned.Any clarity will be of great help!  Thank you in advance.

It would be so easy if the software allowed me to enter the expenses in the right column. So much frustration when there is no way to enter the expenses in the right place. Any advice?

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On Business Income and Expense page, for Self Empl Health Insurance, there is a value of $9633 in the summary which I did not directly enter.  On the next page, it says "we have deducted $547 of allowable health ins attributable to Schedule C.   The $547 is dental and health premiums that I paid.I have a 1095-A with a Col. A total of $9084.57.  Col C $8179.38. I saw in Turbo Tax that I have to repay $8184 (it definitely shows 8179 for 1095 entry but repayment screen added $5).   My income was higher than anticipated due to a K-1 Estate check I received. 1.  I think the repayment should be treated as a medical expense on federal (if it weren't for the std deduction) and on state and hopefully reduce the tax I owe.    Would this show on my 2024 taxes or would I enter it next year?  What form can I see it on? 2.  None of the numbers add to the $9633 value shown.  9084 + 527 gets close at 9611.Does the program work

Can a partial section 179 deduction on Schedule C be used for a new car that is used 50% for business. Can I also take the standard mileage deduction for business travel. If I can't take the standard mileage deduction in the same year that I use the 179 deduction, can I still use the standard mileage deduction in future years for the same vehicle?

I live in Cambria county PA and work in Somerset County PA. My office address is [PII removed]  My employer sent me a W-2 with two different locations in Somerset County. Both have different amounts but they add up to the TOTAL CITY local income tax on page one. Locations are 56093(Somerset Boro) and 56094(Somerset TWP). Which is correct and how do I enter this?

I have an LLC partnership consisting of my Wife and me.    I deduct the health insurance premiums paid by the LLC on Schedule A.   I forgot to put the amount on Line 13 code M.    I do not know if I am understanding this properly, but IF the LLC pays the health premiums and deducts from the gross, does it count as a personal deduction?  If I enter the amount on line 13 code M,   ir REDUCES my taxes.   This doesn't make sense. 

I am actually working on my 2023 return.I closed one of my businesses in 2023 summer. I selected the option in Turbo Tax that I closed the business followed with another question in that regard. Now, when I review my return, there is no mention on Sch C that this was a final retun. How to report to IRS that this business in no longer in existence since mid 2023?Please help!Thank you in advance!