Great tutorial. For those who mail their tax return, send it certified mail with return receipt. IRS has been known to lose mailed in documents. Yup, happened to me, thankfully I caught it and resent it before the deadline.
How would you catch that they have not received it so quickly.. I know if you have an account with them you can see when they record it but that is usually not shown till after April deadline... Lucky you. If you have a secret to find when the receive it pls share it with us.. Thanks
WELL; FOR 15 YEARS STRAIGHT, no problem. dECEMBER GO TO STOR, BUY DISK, GO HOME PLACE DISK IN COMPUTER, 10-15 MINUTS READY TO GO. tHIS TIME I HAVE LOST $200.XX TRYING TO GET tURBOtAX AND still nothing done!!!! wHAT IN THE HELL WAS WRONG WITH THE THE DISK AS BEFOR???? pERHAPS I SHOULD CHANGE MY NAME TO BIDEN AND NOT WORRY ABOUT MY TAX RETURNS????
@@tomchambers9787 No secret. I had to file an amended return. With an amended return, you can only send it to IRS as a paper return. So I sent it to IRS last year postmarked first class mail by April deadline. So I get "crickets" from IRS /no acknowledgement of the paper return I sent, and it is August and so I called IRS automated system and by the automated message IRS apparently has "no record of my mailed-in return". You can bet I was sure not happy ! Then I read in news reports that IRS just decided to do away with/dispose of 30 million tax returns in 2021/2022. Hmmmmmm, how about that? So I resent the 1040X/amended return again, having to wait in post office line to get certified mail/return receipt to resend the return that I already sent back in April. And not only certified w/return receipt, but I took a pic/smartphone of the USPS green certified mail receipt. So THAT is my "secret" to find out when it was delivered to IRS because it was certified mail return receipt requested and you can track this at usps.com. That is the ONLY way I would send any important mail, especially the IRS, after learning of the 30 million returns they destroyed.
One of the easiest vedio ever found on tax file. It was so easy. This was my first time but vedio was simple and easy which makes no difficult . Any one can do following these steps. Thank you so much.
[11:48 AM PST] @SaintOres.com Thanks Krishna. And I'm glad to know you first time doing taxes went well. TurboTax has a nice program, even with all the ads.
You're welcome. AND... the IRS just announced that you can file starting Jan 29 this year. Good luck and remember to print out a copy for your files....
Thank you so much for this video. I really appreciate your details and help.This video definitely helped me with my taxes this year. Take care and God Bless.
How do I file if I’m in the military. I’m now stationed in Washington State. Last year I was stationed in California. What’s the difference from non-military tax filing? Your assistance would hugely be appreciated. Thank you in advance.
Hello Joey, I'll give you a little info on filing. Luckily the military has a ton of help available. The key for military tax filing is understanding the difference between your home of record (HOR) and your state of legal residence (SLR). HOR: This is the state listed by the military when you enlisted. It typically doesn't change and has no bearing on taxes. SLR: This is the state you consider your permanent home for tax purposes. It's usually the same as your HOR unless you've taken steps to establish residency elsewhere. Here's how this applies to filing taxes: Generally, you file state income taxes in your SLR, not your HOR. Military service allows you to maintain your SLR even when stationed elsewhere. Your Leave and Earnings Statement (LES) will show your SLR. Resources to help you further: Military OneSource MilTax: This free service offers tax preparation software, e-filing, and consultations with tax experts specifically for military members www.militaryonesource.mil/financial-legal/taxes/. IRS Military Tax Information: The IRS website provides a wealth of information on tax filing for service members www.irs.gov/individuals/military. Hope this helps....
Hello Wallet Investor, For your W-2: Import or enter your information under W-2 section. For Uber and Lyft: Enter the income reported on Form 1099-NEC in the self-employment income section (Schedule C). For brokerage account: Schedule D is where you report your capital gains and losses. You'll enter the calculated amounts from your 1099-B based on the asset type and holding period. Whether it's more beneficial than itemizing deductions depends on your specific situation, but yes you can use a standard deduction in your case.
Double incredible such quick responses. I am so used to NEVER getting a response I rarely come back to check.. But just happened to look at all the comments i have written on youtube that are shown in my profile and noticed your response.. Thank you so very much. It was my question on the military survivors benefit plan below.. I have posted a dozen times and NOONE not one single person has responded.. And for all you folks out there if you do not know how to sell all you coments that you have made no matter how many then go to your youtube profile and all 3 million are there.. You may want to review then and see if you made any comments that you would rather not have made as you can then find them all and go delete some if you like... and again another big hug to Katie for making me realize there are still some authors that respect us enough to comment.. Thank You I will be reading many more of your posts and commenting just because you took a minute to help me...
Hello Tom, Thanks for the wonderful comment. I try to answer all the serious questions in the comments because I know preparing taxes can be a little confusing. I see you have other comments and I will take a look at those after lunch, Oregon time.
Hello. I've noticed that there is D type in W2 of 1500 (box 12). It's about 401k contributions. In this case, our answer to the question “Did you contribute to a traditional IRA or Roth IRA?” should be No anyway?
I went thru your playlist, didn’t find any video doing investment taxes (stocks and bonds) please share a link if you have one. I won’t be doing std deductions right if I had income only from selling stocks?
Hello again Vickipedia, I'm sorry but I don't have a video tutorial on doing investment taxes. Just to clarify, the source of your income doesn't affect your eligibility to use the standard deduction. If your income comes solely from selling stocks, you can choose between using the standard deduction or itemizing, depending on which one is more advantageous for you.
@@KatieStOresCFPChFCEA ahhh!! Got it!! Thank you very much!! I am new to it. Stock trading & Investments come easy to me as compared to learning taxes. I have this unnecessary general phobia of taxes. Watching your videos I am glad I am releasing those.
[9:33am PST] @SaintOres.com Taxophobia. Now that would be a good video. Cryptotaxophobia, even better video. Hope you had a lot of shares of Nvidia. Sorry, you said you were a stock trader. So I hope you had a lot of SOX June calls.
Hi Katie, Thanks so much to make this video! In 14:33, I if I own foreign bank accounts and receive foreign interest income, do I fill in "both" 1099-OID (enter financial institution info and interest) and 1099-INT? Thanks so much.
Hello Bobo, Generally, if your foreign bank account pays interest regularly (like a typical savings account), the interest income will likely be reported on a Form 1099-INT by the foreign bank. You wouldn't need to file Form 1099-OID in this case. You may also need to file Form 8938 if the total value of your foreign financial assets exceeds certain thresholds.
@@KatieStOresCFPChFCEA Thanks so much for answering my question, Katie. My foreign financial assets (bank balance) is more than threshold (50K). When I search 8938 in Turbotax, it jumps to "Foreign Financial Assets" page. It seems that this belongs to "1099-OID, Foreign Accounts" under "your income" section in Turbotax. Therefore, I am a little confused.
@@KatieStOresCFPChFCEA Hi Katie, Thanks so much for the reply. I have foreign bank balance more that threshold so I need to report foreign financial account. When I search 8938 form in TurboTax, and filled in all information step by step, the information will be under 1099-OID. In this case, do I leave “interest” info in 1099-OID “blank” and put foreign interest income in 1099-INT instead? Or do I need to fill in foreign interest income in both forms? Thanks so much
Hello Bobo, I feel uncomfortable giving advice without more information. I would recommend using the help line at TurboTax since they are preparing your taxes. They have knowledgeable Enrolled Agents and CPA's there to steer you in the right direction. Good luck.
Great video. I do have one question. If you decide not to efile and do regular mail, does freetaxusa automatically file the claim? It says tax return won’t be mailed to you until they are accepted by the irs
Hello Lion's, I'm not sure what you mean by the word "claim:. Typically, refunds are issued within a few days of being approved, but first, the return has to be accepted. When you paper file, it takes longer than e-file.
How do we file when I received 2 1095 A forms due to two marketplace insurance in a year? My husband has his insurance through his job and we are fill jointly. Only I had marketplace insurance.
Hello Pratisthagurung5880, If your husband's job-based insurance covered you at ANY point during the year, you might not be eligible for the premium tax credit. Double-check the eligibility rules to be sure. Second, as an employee, your husband would receive a Form 1095-C, not 1095-A.
Hi Ms. Ores, thank you for the educational link. One question where do you place the Virginia Taxable Income Subtraction for Military Retired Pay? Thanks again
Hello Ali, To enter your business expenses in TurboTax for a single-owner LLC, you will need to use Schedule C. This form is used to report your business income and expenses to the IRS.
Yes, that's correct. A single-member LLC is typically treated as a "disregarded entity" by the IRS for tax purposes. Which means you file Schedule C just like a sole proprietor would.
Hello Anthony, Identity theft must be the worst.... During the e-filing process in TurboTax, you will be asked to review your tax return for accuracy and completeness. Once you have done so, you will be prompted to electronically sign your tax return using either your Self-Select PIN or your IRS e-file PIN, if applicable. Simply follow the prompts provided by TurboTax to enter your PIN and complete the e-filing process.
The worksheet I always want to print for my records is the “Qualified Dividends and Capital Gain Tax Worksheet”. Does the software allow you to access and print the forms not required to be filed? Thank you.
Hey Kristen, You should be able to... Try this: Sign in to TurboTax Online. Click on the Tax Tools tab. Click on Print Center. Under All Forms, click on Worksheets. Scroll down to the Qualified Dividends and Capital Gain Tax Worksheet and click on the Print button.
If I have my Social Security, small amount of interest from the bank, and my executor compensation, could I use TurboTax ? Would it be best to buy a CD or file online?
Hello Markhorst3628, Yes, you can use TurboTax in your situation. As for whether you should buy a CD or file online, the answer depends on your individual preferences.
Thank you I am confused about wheter to answer yes or no for the question " did you take a disaster distriubition at any time between 2018and 2022? does this include covid stimulate checks?
Hello Haider, This question applies to 1099-R (retirement) payments IF you opted to spread taxes over three years, claiming the Covid option. If you did not opt for such payments last year, answer No.
Hello Esope, If you have both a W-2 and a 1099-NEC form, you will need to report the income from both forms on your tax return. The W-2 will report your wages from your employer, while the 1099-NEC will report any self-employment income you earned as an independent contractor or freelancer. Enter these into TurboTax an the software will guide you through the process of reporting your income and deductions, and will help you determine your tax liability or refund. Make sure to have all necessary documentation, including your W-2 and 1099-NEC forms, any receipts for deductible expenses, and any other relevant tax documents, before you start filing your taxes. It's also a good idea to double-check all of your information for accuracy before submitting your tax return.
I have 2 W2s… do I need to file my taxes twice? I have one for a job I worked at in 2022 and I quit in October. and my job now I just started in December of 2022. What should I do? Please advise🙏🏾😭
Hello Ayari, You file one return, but you'll have to enter your two W-2s into your tax return. To enter two W-2's in TurboTax, please follow these steps: Sign in to your TurboTax account. Select the "Federal" tab from the top of the screen. Under "Income & Expenses", select "Wages & Salaries". Click on "Add a W-2". Enter the information from your first W-2, including the employer's name, address, and Employer Identification Number (EIN), as well as your wages, tips, and other compensation. Click "Continue" and repeat the process for your second W-2. TurboTax will automatically calculate your total income and taxes based on the information you provide from both of your W-2 forms. If you have any additional sources of income or deductions, you can enter them in the appropriate sections to ensure that your taxes are calculated accurately.
at what point does turbo tax ask if you made any payments already for the tax year ? i owe 300$ but i prepaid already 3000 for the entire year so when does turbo tax ask me to enter that info ? in this case i would get a refund of 3000-300 = 2700. Do we enter this info after the payment page ?
Hello Jdoit400, TurboTax does ask about estimated tax payments made throughout the year. If you are already entered a $3,000 prepayment, it should result in a $2,700 refund after considering your $300 tax liability. Look for Estimated Tax input. Good Luck!
@@KatieStOresCFPChFCEA got it. I directly jumped to that section and entered the data and refund now correctly shows up as 2700. Thanks for the pointers 👍
should you add your own contributions to employer ira/roth accounts? 18:33 or does refer to independent ira/roth accounts opened outside of employer investment accounts?
Hello Y, Traditional IRAs.... Retirement plan at work: Your deduction may be limited if you (or your spouse, if you are married) are covered by a retirement plan at work and your income exceeds certain levels. No retirement plan at work: Your deduction is allowed in full if you (and your spouse, if you are married) aren’t covered by a retirement plan at work.
Hi, I am living in California and my work company is in the PA state and withhold PA income tax. How do I file in TurboTax? Can I use my previous PA address to file my tax? if not what should I DO? Thank you.
Hello User lo (you need a new name)…..If you continue to use your previous PA address, all correspondence from the IRS will be sent there. Since you are a resident of CA but have income sourced from PA and state withholding, you will need to file taxes for both states. I hope this helps.
I have a question about healthcare plans on marketplace. What happens if we over-reported our income. Let's say that I and my spouse reported $25,000; however, this year, we did not earn that much or even do not earn anything for the whole year. So how much would we have to repay back to them? (Like my plan is $1700/month, so do we have to pay $1700x12months=$20,400 + the penalty?). Thank you.
Is the "homestead property tax credit" for people who pay rent in a apartment? I'm confused by this. Is this for someone paying rent in a apartment or is this for someone that owns a home? Or does it apply for both. The word "Landowner" in this section is confusing me. Does "Landowner" mean... my landlord?... the apartment management company?... the apartment owner's name? Also... I rent an apartment.
Hello Crazy Family, I submitted the forms both ways and I found it to be quicker to enter one(1) form by hand. I suppose if you had two or more, scanning might be faster. Then again, I'm very fast on a keypad.
Hello Morisventura, Since you have two different income sources, such as a W-2 and independent contractor income, here's what you need to know when filing your taxes. Your wife reports information on Form 1040 as usual with her W-2. You, as dependent contractor should report your income and expenses on Schedule C (Form 1040) and file Schedule SE to calculate and pay self-employment taxes. Remember to keep good records of all income and expenses throughout the year.
Hello Rex, Not necessarily. If you don't have any children or dependents, you may still qualify for the free TurboTax option if your income is below certain limits. For the 2022 tax year, the income limits for the free TurboTax option are as follows: Single filers: $39,000 Married filing jointly: $78,000 Head of household: $52,000 If your income is above these limits, you may still be able to use the free TurboTax option if you meet certain other requirements. For example, you may qualify for the free option if you are: A student, a member of the military, receiving certain government benefits.
Hello dbest, FYI, it takes about 10 days to film, edit, render, and publish a 20 minute video. HR Block is nearing the end, followed by TaxAct. I probably won't do TaxSlayer until after tax season. So I would recommend searching for another TaxAct tutorial video if you're in a hurry. Just doing the best I can during an incredibly busy time of year.
Hello Rose, I don't have access to your personal financial information, so I cannot say for certain whether you need to upgrade to TurboTax Deluxe or not. However, here are a few things to consider: TurboTax offers several different versions of their software, each with different features and capabilities. The Deluxe version may be necessary if you have more complex tax situations, such as investments or rental property income. It's possible that you may have accidentally selected a feature or option that requires the Deluxe version. Double-check your tax return to see if there are any sections that you may have filled out incorrectly or skipped over. TurboTax may offer free or discounted versions of their software for certain users, such as active-duty military members or those with low incomes. Check to see if you qualify for any of these discounts. Ultimately, the decision to upgrade to TurboTax Deluxe is up to you and depends on your individual tax situation. It may be helpful to consult with a tax professional or financial advisor to determine which version of TurboTax is right for you.
@@KatieStOresCFPChFCEA Thank you so much. I do have the Deluxe version, but TurboTax keeps asking me to upgrade for $119. I will take your advice and consult an advisor. I believe it is investment related. Thanks again!
[3:29 PM PST] @SaintOres.com Hello Star Wars Nerd, May the Tax be with You.... If the creator (you donated to on Patreon) is a legally recognized not-for-profit company, and you receive nothing of value in return for your payment to them tax deductible. Otherwise, it is not deductible.
@@KatieStOresCFPChFCEA Haha good one 😂 Also thank you for that! In my case my donations wouldn't be tax refundable since I got something in return. Thanks for clarifying that!
Hello. I really appreciate you video but I have a question and really hope you will answer my question. I was a J1 work and travel student in USA in 2022 and I want to apply for my tax return. I don’t live in USA. Is there any specific for me in my tax return application?
Hello Sand and more, You must file Form 1040-NR U.S. Nonresident Alien Income Tax Return only if you have income that is subject to tax, such as wages, tips, scholarships, and fellowship grants.
Hello Kylin, Try the following. You can always contact their support. There are a few reasons why you might be having trouble adding your school to TurboTax and seeing Suffolk but not being able to click it. 1. TurboTax has a list of pre-loaded schools. Try typing the full name of your school EXACTLY as it appears on your 1098-T form. Use quotation marks around the name if it contains special characters. 2. Verify your tax form information: Ensure the name and ID number of your school listed on your 1098-T form are accurate. If there are any discrepancies, contact your school to get a corrected form. 3. Manually enter your school information: If your school isn't listed and you cannot find it, you can enter it manually. You'll need the following information from your 1098-T form: School name, School ID number, Address, Phone number, Website 4. Contact TurboTax Support: If none of the above solutions work, contact TurboTax customer support for assistance. They can help you troubleshoot the issue and may be able to manually add your school to your return.
Hello Oscah Don, If you have already filed your last year's return and owed taxes, the IRS will automatically apply any current year's refund towards that debt unless you instruct them otherwise.
I don't see why you can't start a business there in India. Just make sure that you comply with the legal and regulatory requirements that you will need. You might want to start here.... Ministry of Corporate Affairs. As to how to get clients. Word of mouth is always the best way. But to get the first clients, you'll probably have to advertise to groups that you want to attract. Maybe find a niche you like and start there.
[9:47 AM PST] @SaintOres.com Hello 김상현 , I can only give you a general answer. If you e-filed your tax return, you can't revert it. You can only amend it if you make a mistake.
Hello Qxika, Sometimes the system will not allow you to e-file your tax returns, and you have to mail them. The reasons could be: your return contain overrides, or a W-2 where box 1 is blank, or the box 16 amount is greater than the box 1 amount, some prior-year, or amended returns.
Hi Katie, thank you for this video. I just finished filing my taxes with TurboTax but it is asking me before it is transmitted an update but there is no option to where to go. Do you know how to do it? thank you for your help.
Hello Galato, I don't have access to your TurboTax account and the exact details of your situation. However, I can provide you with some general guidance on how to update and transmit your tax return using TurboTax. If TurboTax is asking you to update your tax return before transmitting it, it's possible that there is some information that needs to be corrected or updated. You can follow these steps to update your tax return: Log in to your TurboTax account. Click on the "Tax Return" tab to open your return. Review your return and make any necessary updates or corrections. After making changes, be sure to save your work. Once you have finished updating your return, you should see an option to transmit it to the IRS. Follow the prompts to do so. If you're still having trouble finding the update option or transmitting your return, you can try contacting TurboTax support for further assistance. They should be able to help you with any issues you're experiencing.
@@KatieStOresCFPChFCEA Thank you so much! I closed my account and log in again and the system asked me to update, then I went to E-file and it worked very well. Thank you for your response.
It keeps telling me I have to add my email in the personal info section before I can submit. But there is no email section. Do you have any update on this?
Hello Vibes, You can try the following. To add or update your email address in TurboTax, please follow these steps: Sign in to your TurboTax account. Click on your name in the upper right-hand corner of the screen and select "Intuit Account" from the dropdown menu. On the Intuit Account screen, click on the "Edit" button next to the "Email address" field. Enter your email address in the provided field and click "Save." Once you have entered your email address in your Intuit account, it SHOULD be automatically populated in the personal information section of your tax return in TurboTax. If you are still having trouble finding where to enter your email address in TurboTax, you may want to try contacting their customer support team for further assistance. (That's the best I can do since I do not get paid by them or work for them.)
I need to double lock to link my K-1 to Schedule E but it doesn’t work. I already paid and now I may be forced to mail returns. Do you know any work arounds?
Hey Karen, I don't work for TurboTax, but here is what I would try to link your K-1 to you Sch E... Try using a different web browser or device to complete the process. Sometimes, technical issues can be browser-specific, so switching to a different browser or device might help. Clear your browser's cache and cookies. Sometimes, clearing your browser's cache and cookies can resolve technical issues. Contact TurboTax customer support. TurboTax has a customer support team that can help you troubleshoot the issue you're experiencing. You can contact them via phone or chat on the TurboTax website. Enter the information manually. If all else fails, you can manually enter the information from your K-1 onto Schedule E. I know you don't want to hear this.... File by mail. If you're unable to link your K-1 to Schedule E electronically, you can still file your return by mail. Make sure to include all necessary forms and documents, and mail them to the appropriate IRS address. I hope one of these solutions helps you resolve the issue and complete your tax return. Deadline is tonight at Midnight....
@@KatieStOresCFPChFCEA thank you. Lol I’ve tried all those things but actually speaking to customer service. I just filed an extension as I want to talk to someone about it. I saw it was an issue with linking another form to schedule C. I’ll probably just end up mailing. I appreciate your ideas. Going to try them all again in a couple days.
I have tried in vain To clear and restart my taxes First, I don't have the black side column on my screen 2nd, I can't find the clear and start over option How do I do this? Thanks
Hello David, Give this a try, If this doen't work, try Turbotax chat. You have until April 18th this year to file. To clear and start over in TurboTax, follow these steps: Log in to your TurboTax account. Click on the "My Account" button located on the top right corner of the screen. Select "Clear and Start Over" from the drop-down menu. You'll be prompted to confirm that you want to clear all of your information and start over. Once you confirm, all of your entered data will be erased, and you can start over with a blank return. Note: If you've already paid for TurboTax, clearing and starting over won't affect your payment. You'll still have access to the paid version of TurboTax.
[9:47 AM PST] @SaintOres.com Hello Ally, Federal Carryovers (worksheets) can be losses, deductions, and other entries carried from last year to be used this year. If you did not have any kind of carryovers from last year to be used against income or deductions for this year, this may not refer to you.
Hi Zhimei, if you've recently moved and need to update your address with the IRS, you can use Form 8822. This is the preferred method for individuals to inform the IRS about their change of address. You can download the form from the IRS website, fill it out online or print it and mail it to the address mentioned in the instructions. To complete the form, you'll need to provide your full name, old and new addresses, as well as your Social Security number or Individual Taxpayer Identification Number (ITIN).
Hi Katie Great video - Is April 15th the deadline for the last day I can upload my stuff to turbotax? In other words, Isn't there any earlier deadline by which Turbotax will need my uploads? Hope that makes sense.
Hello Worthington, The deadline for filing your 2022 federal income tax return using TurboTax is April 15, 2023. This means that you must submit your tax return and any payments due to the IRS by this date to avoid any potential penalties or fees. However, if you need more time to file your return, you can request a six-month extension by filing Form 4868. This will give you until October 17, 2023, to file your tax return, but any taxes owed must still be paid by the April 15th deadline to avoid penalties and interest.
Hello again, This is from the IRS website, NOT TurboTax. The filing deadline to submit 2022 tax returns or an extension to file and pay tax owed is Tuesday, April 18, 2023, for most taxpayers. By law, Washington, D.C., holidays impact tax deadlines for everyone in the same way as federal holidays. The due date is April 18, instead of April 15, because of the weekend and the District of Columbia's Emancipation Day holiday, which falls on Monday, April 17.Taxpayers requesting an extension will have until Monday, October 16, 2023, to file.
@@concepcionvito4287 Hello Concepcion, To file a return for the prior year 2021 in TurboTax, follow these steps: Open TurboTax and sign in to your account. Select the "Prior Year Return" option from the TurboTax home screen. Select the prior year you want to file and click "Continue". Follow the prompts to enter your personal information, income, and deductions for the prior year. Review your information and make any necessary corrections. Once you have completed your return, select the "File" option to submit your return to the IRS. It's important to note that there may be additional fees associated with filing or amending prior year returns in TurboTax.
Hello Green, If you need help from the IRS, it is best to try to get it before November 30, 2023. If you cannot, be prepared for delays and be patient. The tax advocate you spoke to may have been referring to the fact that the IRS is currently operating under a continuing resolution, which expires on November 30, 2023. If Congress does not pass a new funding bill by that date, the IRS will be forced to shut down. It is important to note that this is just a possibility. Congress could pass a new funding bill before November 30, 2023, or they could reach a deal to extend the continuing resolution. However, it is always best to be prepared for the worst-case scenario.
Katie mam, I have a client in India who works as freelancer in usa and after withholding his payment his made.and he also pays income tax in india.asper DTAA he has to pay tax only in india.Mam how can he get back his withheld amount from usa . please advise me.Thank you.
Hello All in, Your client can get back the withheld amount in the US by filing Form 8833 with the IRS. This form is used to claim a foreign tax credit for taxes paid to a foreign country.
Yes, you can claim Form 8833 without a Social Security Number (SSN). However, you will need to provide the following information on the form: Your client's taxpayer identification number (TIN), which is usually their alien identification number (ITIN) or passport number. The name of the tax treaty that you are claiming. The amount of income that you are claiming the treaty benefit for. You can find more information about how to claim Form 8833 without a SSN on the IRS website.
Hello iWander number 2, If you are using TurboTax to file your taxes and have received a Form 1095-C from your employer, you'll need to enter the information from the form in the "Health Insurance" section of TurboTax. Here's how: ---Open your TurboTax return and click on the "Federal" tab on the left-hand side of the screen. ----Scroll down to the "Deductions & Credits" section and select "Health Insurance." ---On the next screen, you'll be asked whether you had health insurance coverage for the entire year. Answer "Yes" or "No" as appropriate. ---If you had health insurance coverage for the entire year, you'll be asked to enter information about your health insurance plan. On this screen, you'll see a question that says, "Did you receive a Form 1095-A, 1095-B, or 1095-C?" Answer "Yes." ---On the next screen, you'll be asked to enter the information from your Form 1095-C, including the employer's name, address, and employer identification number (EIN), as well as the employee's name, Social Security number, and the number of months the employee was enrolled in the health plan. ---Once you've entered all the required information, TurboTax will use it to calculate your premium tax credit (if applicable) and to determine whether you owe a penalty for not having health insurance coverage. ***Note that if you received a Form 1095-B instead of a 1095-C, you'll enter the information from that form in the same "Health Insurance" section of TurboTax, but you'll select "No" when asked whether you received a 1095-A or 1095-C.
Question for the ones who do their own taxes. I've decided to do my own mobile food business taxes this year because many cpa's are backlogged and I don't have time to wait any longer. Most of it was easy because I kept good records all year. I'm just wondering if my food expenses would be considered as supplies or assets? Thank you.
[10:58 AM PST] @SaintOres.com Hello ILC1234, For sole proprietors and single-member LLCs using Schedule C, your Cost of goods sold is calculated in Part III and included in the income section of Part I.
@@KatieStOresCFPChFCEA Thank you! I found everything. I neglected to keep track of my miles and all vehicle expenses for my mobile food business, so I'm not going to write off any vehicle expenses and take it as a lesson learned. I bought a vehicle to specifically use for the business and started keeping records on January, 1st 2023. Is it okay to do this, because I'm not going to just make up log book, plus I don't have gas receipts.
[4:36 PM PST] @SaintOres.com Hello ILC, The best evidence for claiming the deduction for business use of a vehicle is with written records. There must be evidence available, or the deduction is not allowed. If you can't support the deduction with appropriate documentation, leave it off the 2022 tax return.
When doing my MT state taxes they don’t ask if any money was withheld for state taxes on my K-1. So MT thinks I owe but I’m actually due a refund. What do I do?
Hello Joe, I can do a video on tax optimization and tax reduction strategies so that you don't pay more than your fair share. But without taxes, you won't have roads, airports, school teachers, fire departments, the Marines, tornado warnings, etc.
Contact TurboTax directly and ask them the status of e-filing. Let them know the state you are in. E-file will open up again at the end of January, 2024
Hello Matthew, This should get you there.... Sign in to your TurboTax account and open your tax return. Click on "Federal Taxes" in the left menu and then select "Wages & Income" from the dropdown menu. Scroll down to the "Less Common Income" section and click on "Show More." Look for the option "COVID-19 Frontline Worker Pay" and click on "Start" next to it. Follow the prompts to enter your Frontline worker pay information, including the amount received and the employer's name and address. TurboTax will automatically calculate the tax withholding on your Frontline worker pay and add it to your total income for the year. Note that if you received Frontline worker pay from multiple employers, you'll need to enter each one separately in TurboTax.
Hello Pedro, For your tax Filing: Form 1040: When it's tax season, you'll file a regular tax return (typically Form 1040) to report your income and any deductions you qualify for. Schedule C: You'll likely need to file Schedule C along with your Form 1040. This schedule details your income and expenses related to your self-employment activity. Tax Payment: If you haven't paid enough in estimated taxes throughout the year, you'll need to submit the remaining balance with your tax return.
Hello Michelle, To enter a second W-2 form in TurboTax, you can follow these steps: Open your TurboTax account and select the federal return you're working on. On the "Welcome back to TurboTax" screen, click "Continue." In the "My Info" section, select "Edit" next to "Work on my W-2 and other common forms." Click "Add Another W-2" and enter the information from your second W-2. Follow the prompts to enter the rest of your tax information. Repeat these steps for any additional W-2 forms you need to enter. Once you've entered all of your W-2 information, be sure to review your return carefully to make sure everything is accurate and complete. If you have any questions or concerns, TurboTax has a team of experts available to help you navigate the tax preparation process.
Hello Willie, If you did not file taxes for the year 2021, you will need to file your tax return as soon as possible. You can use TurboTax to prepare and file your taxes. Here are the steps you can follow: Sign in to your TurboTax account or create a new one if you don't have an account yet. Select the tax year you want to file, which in this case is 2021. Enter your personal information, including your name, Social Security number, and filing status. Enter your income information, including W-2s, 1099s, and any other sources of income you received in 2021. Enter your deductions and credits, including any expenses or credits you may be eligible for. Review your tax return for accuracy, and then e-file your return to the IRS. It's important to note that if you owe taxes for the year 2021, you will need to pay them as soon as possible to avoid penalties and interest charges. If you can't pay the full amount owed, you can still file your tax return and arrange a payment plan with the IRS. Also, you have until April 18th to file your 2022 taxes, or you can file an extension.
[11:35 AM PST] @SaintOres.com Hello David, For example, if you need to edit your wages. Open or continue your return. From the menu, select Federal. Then, choose Wages & Income. On the Wages and income screen, select the Edit button next to the item you would like to update or delete.
Hello Marie, Even if your income from Poshmark does not exceed the threshold for filing taxes, you are still required to report all income earned to the IRS. Failing to report income could result in penalties, fines, or even legal consequences. It's always best to consult with a licensed tax professional or accountant for specific advice related to your individual tax situation.
Hello Marie, TurboTax offers guidance on reporting income from Poshmark sales. To find information about it on TurboTax, you can follow these steps: Log in to your TurboTax account... Select the option to start a new tax return or continue an existing one... In the search bar, type "Poshmark" or "selling online".... Select the option that best fits your situation... Follow the prompts to enter your Poshmark income and any related expenses.... Note* If you are unsure about how to report your Poshmark income on your tax return, it may be a good idea to consult a tax professional.
Hello Tony, I am assuming you want to add a second w-2 to your tax return... Per Turbotax instructions, open (continue) your return if you don't already have it open. Search for W-2 and select the Jump to link in the search results. On the Your W-2 info so far screen, select Add another W-2. Enter the information from the new W-2 on the following screens.
Hello Tony, First off, I don't get paid anything from TurboTax... But here's what I can tell you about your extra W-2. The cost to add another W-2 form to your tax return using TurboTax will depend on the specific TurboTax product you are using and the time at which you purchase it. TurboTax offers several different products with different pricing structures. Some products, such as the Free Edition, allow you to file a federal tax return with ONE W-2 for free, but may charge additional fees for state returns and other forms. Other products, such as the Deluxe Edition or Premier Edition, may include additional features and support for MULTIPLE W-2 forms, but may also come with a higher price tag. To get a precise quote for adding another W-2 form using TurboTax, I recommend visiting their website and selecting the product that best fits your needs. The cost will be displayed before you complete your purchase. Additionally, TurboTax may offer discounts or promotions during certain times of the year, so it's always a good idea to check for these before making a purchase.
[09:35 AM PST] @SaintOres.com Hello Lucero, Per Turbotax instructions, open (continue) your return if you don't already have it open. Search for W-2 and select the Jump to link in the search results. On the Your W-2 info so far screen, select Add another W-2. Enter the information from the new W-2 on the following screens.
[11:44 AM pst] @SaintOres.com Hello Yadeesh1, Form 8949 is used to report sales and exchanges of capital assets. Form 8949 allows you and the IRS to reconcile amounts reported to you and the IRS on Forms 1099-B or 1099-S (or substitute statements) with the amounts you report on your return.
@KatieStOresCFPChFCEA thank you! I have consolidated tax form from Ameritrade. It lists short trades and long ones. My question is that when I checked sold stocks, TurboTax opened another sheet. I don't know what that sheet is and how to fill it out
Hello Yadeesh, It's impossible for me to give you professional advice in this setting. You might think about paying extra and get some professional help at TurboTax. They'll have all your info there to look at.
The IRS doesn't accept tax returns via email. Your choices are... Electronic Filing (e-filing): It's generally faster, more accurate, and allows you to receive your refund quicker. There are two main options for e-filing: Free File: The IRS offers a program called Free File where you can use tax preparation software from participating companies for free if your Adjusted Gross Income (AGI) falls below a certain limit (apps.irs.gov/app/freeFile) Paid Tax Software: TurboTax, FreeTaxUSA, etc. Or you can Mail your return.
![Chino Pacas - Modo Capone (with Drake & Fuerza Regida) [Video Oficial]](http://i.ytimg.com/vi/zjv8TQ0gBkg/mqdefault.jpg)
Great tutorial. For those who mail their tax return, send it certified mail with return receipt. IRS has been known to lose mailed in documents. Yup, happened to me, thankfully I caught it and resent it before the deadline.
Thanks Sunlight. I should have mentioned that in the video.
How would you catch that they have not received it so quickly.. I know if you have an account with them you can see when they record it but that is usually not shown till after April deadline... Lucky you. If you have a secret to find when the receive it pls share it with us.. Thanks
WELL; FOR 15 YEARS STRAIGHT, no problem. dECEMBER GO TO STOR, BUY DISK, GO HOME PLACE DISK IN COMPUTER, 10-15 MINUTS READY TO GO. tHIS TIME I HAVE LOST $200.XX TRYING TO GET tURBOtAX AND still nothing done!!!! wHAT IN THE HELL WAS WRONG WITH THE THE DISK AS BEFOR???? pERHAPS I SHOULD CHANGE MY NAME TO BIDEN AND NOT WORRY ABOUT MY TAX RETURNS????
@@tomchambers9787 No secret. I had to file an amended return. With an amended return, you can only send it to IRS as a paper return. So I sent it to IRS last year postmarked first class mail by April deadline. So I get "crickets" from IRS /no acknowledgement of the paper return I sent, and it is August and so I called IRS automated system and by the automated message IRS apparently has "no record of my mailed-in return". You can bet I was sure not happy ! Then I read in news reports that IRS just decided to do away with/dispose of 30 million tax returns in 2021/2022. Hmmmmmm, how about that? So I resent the 1040X/amended return again, having to wait in post office line to get certified mail/return receipt to resend the return that I already sent back in April. And not only certified w/return receipt, but I took a pic/smartphone of the USPS green certified mail receipt. So THAT is my "secret" to find out when it was delivered to IRS because it was certified mail return receipt requested and you can track this at usps.com. That is the ONLY way I would send any important mail, especially the IRS, after learning of the 30 million returns they destroyed.
One of the easiest vedio ever found on tax file. It was so easy. This was my first time but vedio was simple and easy which makes no difficult . Any one can do following these steps. Thank you so much.
[11:48 AM PST] @SaintOres.com
Thanks Krishna. And I'm glad to know you first time doing taxes went well. TurboTax has a nice program, even with all the ads.
😅Incredible step-by-step instructions on taxes! 😅
Thanks for the tutorial. 🙏🏽
Thanks Peter, Glad it was helpful! I especially like the word "Incredible".
I am so surprised, that you actually answered my question, thanks indeed.
You're welcome. AND... the IRS just announced that you can file starting Jan 29 this year. Good luck and remember to print out a copy for your files....
Thank you so much for this video. I really appreciate your details and help.This video definitely helped me with my taxes this year. Take care and God Bless.
Thanks G in South Cal, Glad it was helpful! And it's TAXDAY today.
This video answered all of my questions, thank you
Thanks. But I thought a Random Person would have a random question....
Really really really awesome video!! This is what I needed to learn.
[10:33am PST] @SaintOres.com
Thanks Vikipedia, and say hi to your brother Wiki for me.
@@KatieStOresCFPChFCEA ha ha ha.. my brother Wiki 😂
Excellent video A+
Thanks Medzit, That's my first A+ since 8th grade.
Mam, i forgot to mention one thing that is i watch all of your videos with gtreat attention which are really very helpful, thank you
Hello Amitava, I'm glad they are helpful.
How do I file if I’m in the military. I’m now stationed in Washington State. Last year I was stationed in California. What’s the difference from non-military tax filing? Your assistance would hugely be appreciated. Thank you in advance.
Hello Joey, I'll give you a little info on filing. Luckily the military has a ton of help available. The key for military tax filing is understanding the difference between your home of record (HOR) and your state of legal residence (SLR).
HOR: This is the state listed by the military when you enlisted. It typically doesn't change and has no bearing on taxes.
SLR: This is the state you consider your permanent home for tax purposes. It's usually the same as your HOR unless you've taken steps to establish residency elsewhere.
Here's how this applies to filing taxes:
Generally, you file state income taxes in your SLR, not your HOR. Military service allows you to maintain your SLR even when stationed elsewhere.
Your Leave and Earnings Statement (LES) will show your SLR.
Resources to help you further:
Military OneSource MilTax: This free service offers tax preparation software, e-filing, and consultations with tax experts specifically for military members www.militaryonesource.mil/financial-legal/taxes/.
IRS Military Tax Information: The IRS website provides a wealth of information on tax filing for service members www.irs.gov/individuals/military. Hope this helps....
Thank you and much appreciated. It’s bountifully helpful. 😊
Hi katie,
Thank you so much for making this video....
Thanks Vishal....Glad it was helpful!
Great video, and very educational. Thank you!
[1:16 PM PST] @SaintOres.com
Thanks Francesco, I appreciate the "Great Video" comment. Glad it was helpful!
That’s insane video. Thank you!
You're welcome. You have to be insane to do taxes for a living...
Thanks so much! I really appreciate it!
Always good to provide assistance to a doctor. Glad I could help!
thank you for your explanation!
[10:09am PST] @SaintOres.com
Thanks Bay Custom, Glad it was helpful!
Thank you!
Thanks Sonny....
I have W2, Uber, Lyft and Brokerage account documents. How to fill all of that through Turbo Taxes? Can I use the standard deduction in that case?
Hello Wallet Investor, For your W-2: Import or enter your information under W-2 section. For Uber and Lyft: Enter the income reported on Form 1099-NEC in the self-employment income section (Schedule C). For brokerage account: Schedule D is where you report your capital gains and losses. You'll enter the calculated amounts from your 1099-B based on the asset type and holding period. Whether it's more beneficial than itemizing deductions depends on your specific situation, but yes you can use a standard deduction in your case.
Great video and Thanks very much
Thanks TerryE, You're very welcome. I especially like the "Great" adjective. Puts my right up there with The Godfather video.
Double incredible such quick responses. I am so used to NEVER getting a response I rarely come back to check.. But just happened to look at all the comments i have written on youtube that are shown in my profile and noticed your response.. Thank you so very much. It was my question on the military survivors benefit plan below.. I have posted a dozen times and NOONE not one single person has responded.. And for all you folks out there if you do not know how to sell all you coments that you have made no matter how many then go to your youtube profile and all 3 million are there.. You may want to review then and see if you made any comments that you would rather not have made as you can then find them all and go delete some if you like... and again another big hug to Katie for making me realize there are still some authors that respect us enough to comment.. Thank You I will be reading many more of your posts and commenting just because you took a minute to help me...
Hello Tom, Thanks for the wonderful comment. I try to answer all the serious questions in the comments because I know preparing taxes can be a little confusing. I see you have other comments and I will take a look at those after lunch, Oregon time.
Hello. I've noticed that there is D type in W2 of 1500 (box 12). It's about 401k contributions. In this case, our answer to the question “Did you contribute to a traditional IRA or Roth IRA?” should be No anyway?
Hello Pavel, The D code specifically relates to 401(k) contributions, not IRAs. So that would be no.
@@KatieStOresCFPChFCEA Thank you so much. I like your videos.
Thanks ! I will do mine tomorrow after work
I went thru your playlist, didn’t find any video doing investment taxes (stocks and bonds) please share a link if you have one. I won’t be doing std deductions right if I had income only from selling stocks?
Hello again Vickipedia, I'm sorry but I don't have a video tutorial on doing investment taxes. Just to clarify, the source of your income doesn't affect your eligibility to use the standard deduction. If your income comes solely from selling stocks, you can choose between using the standard deduction or itemizing, depending on which one is more advantageous for you.
@@KatieStOresCFPChFCEA ahhh!! Got it!! Thank you very much!! I am new to it. Stock trading & Investments come easy to me as compared to learning taxes. I have this unnecessary general phobia of taxes. Watching your videos I am glad I am releasing those.
[9:33am PST] @SaintOres.com
Taxophobia. Now that would be a good video. Cryptotaxophobia, even better video. Hope you had a lot of shares of Nvidia. Sorry, you said you were a stock trader. So I hope you had a lot of SOX June calls.
Awesome info. Thank you. I think I miss the last parts so I can submit e files for free, or i still pay for e filing.
Hi Katie,
Thanks so much to make this video!
In 14:33, I if I own foreign bank accounts and receive foreign interest income, do I fill in "both" 1099-OID (enter financial institution info and interest) and 1099-INT?
Thanks so much.
Hello Bobo, Generally, if your foreign bank account pays interest regularly (like a typical savings account), the interest income will likely be reported on a Form 1099-INT by the foreign bank. You wouldn't need to file Form 1099-OID in this case. You may also need to file Form 8938 if the total value of your foreign financial assets exceeds certain thresholds.
@@KatieStOresCFPChFCEA
Thanks so much for answering my question, Katie. My foreign financial assets (bank balance) is more than threshold (50K).
When I search 8938 in Turbotax, it jumps to "Foreign Financial Assets" page. It seems that this belongs to "1099-OID, Foreign Accounts" under "your income" section in Turbotax. Therefore, I am a little confused.
@@KatieStOresCFPChFCEA
Hi Katie, Thanks so much for the reply. I have foreign bank balance more that threshold so I need to report foreign financial account.
When I search 8938 form in TurboTax, and filled in all information step by step, the information will be under 1099-OID.
In this case, do I leave “interest” info in 1099-OID “blank” and put foreign interest income in 1099-INT instead? Or do I need to fill in foreign interest income in both forms?
Thanks so much
Hello Bobo, I feel uncomfortable giving advice without more information. I would recommend using the help line at TurboTax since they are preparing your taxes. They have knowledgeable Enrolled Agents and CPA's there to steer you in the right direction. Good luck.
Great video. I do have one question. If you decide not to efile and do regular mail, does freetaxusa automatically file the claim? It says tax return won’t be mailed to you until they are accepted by the irs
Hello Lion's, I'm not sure what you mean by the word "claim:. Typically, refunds are issued within a few days of being approved, but first, the return has to be accepted. When you paper file, it takes longer than e-file.
How do we file when I received 2 1095 A forms due to two marketplace insurance in a year? My husband has his insurance through his job and we are fill jointly. Only I had marketplace insurance.
Hello Pratisthagurung5880, If your husband's job-based insurance covered you at ANY point during the year, you might not be eligible for the premium tax credit. Double-check the eligibility rules to be sure. Second, as an employee, your husband would receive a Form 1095-C, not 1095-A.
Hi Ms. Ores, thank you for the educational link. One question where do you place the Virginia Taxable Income Subtraction for Military Retired Pay? Thanks again
[3:43 PM PST]
Hello Pam, Virginia Taxable Income Subtraction for Military Retired Pay goes to Schedule ADJ on your Virginia Tax return.
Hi Katie,
You doing great job ❤️... please let me know I have my single own LLC where I can put my business expenses in turbo tax.
Hello Ali, To enter your business expenses in TurboTax for a single-owner LLC, you will need to use Schedule C. This form is used to report your business income and expenses to the IRS.
Great Video! Do you have a video outlining how use turbo tax for LLC's?
Hello Chris, Not for last season, but I plan to do one when the new version is released in early 2024.
Thank you for getting back to me. I saw a video explaining that single member LLC's still use the "self employed" version?@@KatieStOresCFPChFCEA
Yes, that's correct. A single-member LLC is typically treated as a "disregarded entity" by the IRS for tax purposes. Which means you file Schedule C just like a sole proprietor would.
Ok, thank you!! @@KatieStOresCFPChFCEA
You're welcome.....
You Rock!!
[2:39pm PST] @SaintOres.com
Thanks Craftwork. I believe that's my first 'You Rock' comment.
I really mean it! Your information was so helpful
[10:06am PST] @SaintOres.com
Thanks again Craftwork. I'm glad it was helpful. And only 257 days until your taxes are due again.
Nice typing speed !
Thanks Betsy, That's my first 'nice typing speed' comment. I speeded it up by 300% so as not to bore everyone.
Thank you
You're welcome Lydia.
But what if you’re a victim of identity Theft..The IRS gives us a special pin number that TurboTax doesn’t have an option for us to put in
Hello Anthony, Identity theft must be the worst.... During the e-filing process in TurboTax, you will be asked to review your tax return for accuracy and completeness. Once you have done so, you will be prompted to electronically sign your tax return using either your Self-Select PIN or your IRS e-file PIN, if applicable. Simply follow the prompts provided by TurboTax to enter your PIN and complete the e-filing process.
Thank you so much this was very helpful & you are a wonderful person much Blessings!
Thanks Isaiah... Glad it was helpful! Now get back to doing your taxes....
The worksheet I always want to print for my records is the “Qualified Dividends and Capital Gain Tax Worksheet”. Does the software allow you to access and print the forms not required to be filed? Thank you.
Hey Kristen, You should be able to... Try this:
Sign in to TurboTax Online.
Click on the Tax Tools tab.
Click on Print Center.
Under All Forms, click on Worksheets.
Scroll down to the Qualified Dividends and Capital Gain Tax Worksheet and click on the Print button.
If I have my Social Security, small amount of interest from the bank, and my executor compensation, could I use TurboTax ? Would it be best to buy a CD or file online?
Hello Markhorst3628, Yes, you can use TurboTax in your situation. As for whether you should buy a CD or file online, the answer depends on your individual preferences.
Thank you
I am confused about wheter to answer yes or no for the question " did you take a disaster distriubition at any time between 2018and 2022?
does this include covid stimulate checks?
Hello Haider, This question applies to 1099-R (retirement) payments IF you opted to spread taxes over three years, claiming the Covid option. If you did not opt for such payments last year, answer No.
@@KatieStOresCFPChFCEA thank you Katie
"That's it!"👏👏
[09:45 AM PST] @SaintOres.com
Thanks Behailu, That's my first two hands clapping.
Thanks babe ❤
Thank u for your awesome tutorial. I have a question, if Ihave both W2 and 1099NEC. How can I file my tax,
Hello Esope, If you have both a W-2 and a 1099-NEC form, you will need to report the income from both forms on your tax return. The W-2 will report your wages from your employer, while the 1099-NEC will report any self-employment income you earned as an independent contractor or freelancer. Enter these into TurboTax an the software will guide you through the process of reporting your income and deductions, and will help you determine your tax liability or refund.
Make sure to have all necessary documentation, including your W-2 and 1099-NEC forms, any receipts for deductible expenses, and any other relevant tax documents, before you start filing your taxes. It's also a good idea to double-check all of your information for accuracy before submitting your tax return.
Thank u so much Katie .
You're welcome Esope..... Have fun during tax season.
Could you please make video on form 1065 partnership also.
It's more helpful for us.
Hello Vishal, Thanks for the suggestion. I will try and make that video for those people with partnerships.
I have 2 W2s… do I need to file my taxes twice? I have one for a job I worked at in 2022 and I quit in October. and my job now I just started in December of 2022. What should I do? Please advise🙏🏾😭
Hello Ayari, You file one return, but you'll have to enter your two W-2s into your tax return.
To enter two W-2's in TurboTax, please follow these steps:
Sign in to your TurboTax account.
Select the "Federal" tab from the top of the screen.
Under "Income & Expenses", select "Wages & Salaries".
Click on "Add a W-2".
Enter the information from your first W-2, including the employer's name, address, and Employer Identification Number (EIN), as well as your wages, tips, and other compensation.
Click "Continue" and repeat the process for your second W-2.
TurboTax will automatically calculate your total income and taxes based on the information you provide from both of your W-2 forms. If you have any additional sources of income or deductions, you can enter them in the appropriate sections to ensure that your taxes are calculated accurately.
at what point does turbo tax ask if you made any payments already for the tax year ? i owe 300$ but i prepaid already 3000 for the entire year so when does turbo tax ask me to enter that info ? in this case i would get a refund of 3000-300 = 2700. Do we enter this info after the payment page ?
Hello Jdoit400, TurboTax does ask about estimated tax payments made throughout the year. If you are already entered a $3,000 prepayment, it should result in a $2,700 refund after considering your $300 tax liability. Look for Estimated Tax input. Good Luck!
@@KatieStOresCFPChFCEA got it. I directly jumped to that section and entered the data and refund now correctly shows up as 2700. Thanks for the pointers 👍
Great.... I'm glad it worked out. And don't spend the $2,700 all in one place.
should you add your own contributions to employer ira/roth accounts? 18:33
or does refer to independent ira/roth accounts opened outside of employer investment accounts?
Hello Y, Traditional IRAs....
Retirement plan at work: Your deduction may be limited if you (or your spouse, if you are married) are covered by a retirement plan at work and your income exceeds certain levels.
No retirement plan at work: Your deduction is allowed in full if you (and your spouse, if you are married) aren’t covered by a retirement plan at work.
Hi, I am living in California and my work company is in the PA state and withhold PA income tax. How do I file in TurboTax? Can I use my previous PA address to file my tax? if not what should I DO? Thank you.
Hello User lo (you need a new name)…..If you continue to use your previous PA address, all correspondence from the IRS will be sent there. Since you are a resident of CA but have income sourced from PA and state withholding, you will need to file taxes for both states. I hope this helps.
I have a question about healthcare plans on marketplace. What happens if we over-reported our income. Let's say that I and my spouse reported $25,000; however, this year, we did not earn that much or even do not earn anything for the whole year. So how much would we have to repay back to them? (Like my plan is $1700/month, so do we have to pay $1700x12months=$20,400 + the penalty?). Thank you.
Is the "homestead property tax credit" for people who pay rent in a apartment? I'm confused by this. Is this for someone paying rent in a apartment or is this for someone that owns a home? Or does it apply for both. The word "Landowner" in this section is confusing me. Does "Landowner" mean... my landlord?... the apartment management company?... the apartment owner's name? Also... I rent an apartment.
hi Katie what about the tax break 12.500 dollars is IRS will send it as well?
Hello Ernsie, I don't know what tax break you are referring to.
Hi, how do I do individual tax return for Texas state return file
9:46am PST SaintOres.com
Hello Mohammad, There is no state tax in Texas.. unless you have a Texas Franchise Report.
in this video, it's not shown that I am able to print it to have a copy for my record. am I able to print a copy of my tax file for my record?
Yes. At the end, you'll will be able to print a paper copy or a digital copy of your 1040 for your records.
Is there a reason why you choice to enter the information manual vs upload file automatic . For example w-2 form wages ect
Hello Crazy Family, I submitted the forms both ways and I found it to be quicker to enter one(1) form by hand. I suppose if you had two or more, scanning might be faster. Then again, I'm very fast on a keypad.
I just received my W-2
[1:55pm PST] @SaintOres.com
Great, now you can start doing your taxes...
My wife uses a w2 and iam an independent contractor?
Hello Morisventura, Since you have two different income sources, such as a W-2 and independent contractor income, here's what you need to know when filing your taxes. Your wife reports information on Form 1040 as usual with her W-2. You, as dependent contractor should report your income and expenses on Schedule C (Form 1040) and file Schedule SE to calculate and pay self-employment taxes. Remember to keep good records of all income and expenses throughout the year.
I don’t not have children or dependents does this mean I do not qualify for the free option?
Hello Rex, Not necessarily. If you don't have any children or dependents, you may still qualify for the free TurboTax option if your income is below certain limits. For the 2022 tax year, the income limits for the free TurboTax option are as follows:
Single filers: $39,000
Married filing jointly: $78,000
Head of household: $52,000
If your income is above these limits, you may still be able to use the free TurboTax option if you meet certain other requirements. For example, you may qualify for the free option if you are:
A student, a member of the military, receiving certain government benefits.
Katie, need TAXACT Tutorial !
I agree dBest... I'm working on TaxAct and TaxSlayer.... Then I am TaxDone for tax videos.
@@KatieStOresCFPChFCEA oki doki
Katie - Where's TAX ACT Tutorial ? U promised...
Hello dbest, FYI, it takes about 10 days to film, edit, render, and publish a 20 minute video. HR Block is nearing the end, followed by TaxAct. I probably won't do TaxSlayer until after tax season. So I would recommend searching for another TaxAct tutorial video if you're in a hurry. Just doing the best I can during an incredibly busy time of year.
@@KatieStOresCFPChFCEA ok thanks
Thank you for this great Video! TurboTax Deluxe keeps telling me I need to upgrade and pay $119 fee. Is this really necessary?
Hello Rose, I don't have access to your personal financial information, so I cannot say for certain whether you need to upgrade to TurboTax Deluxe or not. However, here are a few things to consider:
TurboTax offers several different versions of their software, each with different features and capabilities. The Deluxe version may be necessary if you have more complex tax situations, such as investments or rental property income.
It's possible that you may have accidentally selected a feature or option that requires the Deluxe version. Double-check your tax return to see if there are any sections that you may have filled out incorrectly or skipped over.
TurboTax may offer free or discounted versions of their software for certain users, such as active-duty military members or those with low incomes. Check to see if you qualify for any of these discounts.
Ultimately, the decision to upgrade to TurboTax Deluxe is up to you and depends on your individual tax situation. It may be helpful to consult with a tax professional or financial advisor to determine which version of TurboTax is right for you.
@@KatieStOresCFPChFCEA Thank you so much. I do have the Deluxe version, but TurboTax keeps asking me to upgrade for $119. I will take your advice and consult an advisor. I believe it is investment related. Thanks again!
Yes, you might have a complicated tax return. The example I did for the video was very simple.
It’s asking me to upgrade to TurboTax Deluxe? Should I do this?
Hello Kunta, you would want to upgrade to TurboTax Deluxe if you need specific tax forms, audit support or if you have a lot of itemized deductions.
Hello mam,
i m from india and i want to learn us taxation and accounting .with the help of you.
Hello Roshan, I plan to put out a few more tax and accounting videos so I hope they help you out.
if i subscribe to a website like patreon does it count as a donation? I'd also like to ask what amount is the minimum to qualify as making a donation
[3:29 PM PST] @SaintOres.com
Hello Star Wars Nerd, May the Tax be with You.... If the creator (you donated to on Patreon) is a legally recognized not-for-profit company, and you receive nothing of value in return for your payment to them tax deductible. Otherwise, it is not deductible.
@@KatieStOresCFPChFCEA Haha good one 😂 Also thank you for that! In my case my donations wouldn't be tax refundable since I got something in return. Thanks for clarifying that!
Hello. I really appreciate you video but I have a question and really hope you will answer my question. I was a J1 work and travel student in USA in 2022 and I want to apply for my tax return. I don’t live in USA. Is there any specific for me in my tax return application?
Hello Sand and more, You must file Form 1040-NR U.S. Nonresident Alien Income Tax Return only if you have income that is subject to tax, such as wages, tips, scholarships, and fellowship grants.
It won’t let me add my school I went to on there I see Suffolk but cannot click it and can’t even move forward
Hello Kylin, Try the following. You can always contact their support.
There are a few reasons why you might be having trouble adding your school to TurboTax and seeing Suffolk but not being able to click it.
1. TurboTax has a list of pre-loaded schools.
Try typing the full name of your school EXACTLY as it appears on your 1098-T form.
Use quotation marks around the name if it contains special characters.
2. Verify your tax form information: Ensure the name and ID number of your school listed on your 1098-T form are accurate.
If there are any discrepancies, contact your school to get a corrected form.
3. Manually enter your school information: If your school isn't listed and you cannot find it, you can enter it manually. You'll need the following information from your 1098-T form: School name, School ID number, Address, Phone number, Website
4. Contact TurboTax Support: If none of the above solutions work, contact TurboTax customer support for assistance. They can help you troubleshoot the issue and may be able to manually add your school to your return.
I’m trying to do my income the first time. I’m still thinking of calling my tax man
Hello Eve, It goes quick. TurboTax walks you through it. Just double check everything before you hit send.
If I owe taxes last year, can I pay it this year with their refund if I get any
Hello Oscah Don, If you have already filed your last year's return and owed taxes, the IRS will automatically apply any current year's refund towards that debt unless you instruct them otherwise.
Katie mam, can i start tax business in usa from india?if yes, how can i get clients? Thanks
I don't see why you can't start a business there in India. Just make sure that you comply with the legal and regulatory requirements that you will need. You might want to start here.... Ministry of Corporate Affairs. As to how to get clients. Word of mouth is always the best way. But to get the first clients, you'll probably have to advertise to groups that you want to attract. Maybe find a niche you like and start there.
Hi, I checked up YES, for Need to make electronic payment on prior year question. I think I made mistake. How do I do that? I already sent my file.
[9:47 AM PST] @SaintOres.com
Hello 김상현 , I can only give you a general answer. If you e-filed your tax return, you can't revert it. You can only amend it if you make a mistake.
I dont get ittt. Why do they ask at the end if you wanna e file im so confusedddd please helpp i did everything and its telling me to file by mail
Hello Qxika, Sometimes the system will not allow you to e-file your tax returns, and you have to mail them. The reasons could be: your return contain overrides, or a W-2 where box 1 is blank, or the box 16 amount is greater than the box 1 amount, some prior-year, or amended returns.
Hi Katie, thank you for this video. I just finished filing my taxes with TurboTax but it is asking me before it is transmitted an update but there is no option to where to go. Do you know how to do it? thank you for your help.
Hello Galato, I don't have access to your TurboTax account and the exact details of your situation. However, I can provide you with some general guidance on how to update and transmit your tax return using TurboTax.
If TurboTax is asking you to update your tax return before transmitting it, it's possible that there is some information that needs to be corrected or updated. You can follow these steps to update your tax return:
Log in to your TurboTax account.
Click on the "Tax Return" tab to open your return.
Review your return and make any necessary updates or corrections.
After making changes, be sure to save your work.
Once you have finished updating your return, you should see an option to transmit it to the IRS. Follow the prompts to do so.
If you're still having trouble finding the update option or transmitting your return, you can try contacting TurboTax support for further assistance. They should be able to help you with any issues you're experiencing.
@@KatieStOresCFPChFCEA Thank you so much! I closed my account and log in again and the system asked me to update, then I went to E-file and it worked very well. Thank you for your response.
@@galato4234 Great... At least you got it figured out
It keeps telling me I have to add my email in the personal info section before I can submit. But there is no email section. Do you have any update on this?
Hello Vibes, You can try the following.
To add or update your email address in TurboTax, please follow these steps:
Sign in to your TurboTax account.
Click on your name in the upper right-hand corner of the screen and select "Intuit Account" from the dropdown menu.
On the Intuit Account screen, click on the "Edit" button next to the "Email address" field.
Enter your email address in the provided field and click "Save."
Once you have entered your email address in your Intuit account, it SHOULD be automatically populated in the personal information section of your tax return in TurboTax.
If you are still having trouble finding where to enter your email address in TurboTax, you may want to try contacting their customer support team for further assistance. (That's the best I can do since I do not get paid by them or work for them.)
I need to double lock to link my K-1 to Schedule E but it doesn’t work. I already paid and now I may be forced to mail returns. Do you know any work arounds?
Hey Karen, I don't work for TurboTax, but here is what I would try to link your K-1 to you Sch E...
Try using a different web browser or device to complete the process. Sometimes, technical issues can be browser-specific, so switching to a different browser or device might help.
Clear your browser's cache and cookies. Sometimes, clearing your browser's cache and cookies can resolve technical issues.
Contact TurboTax customer support. TurboTax has a customer support team that can help you troubleshoot the issue you're experiencing. You can contact them via phone or chat on the TurboTax website.
Enter the information manually. If all else fails, you can manually enter the information from your K-1 onto Schedule E.
I know you don't want to hear this.... File by mail. If you're unable to link your K-1 to Schedule E electronically, you can still file your return by mail. Make sure to include all necessary forms and documents, and mail them to the appropriate IRS address.
I hope one of these solutions helps you resolve the issue and complete your tax return. Deadline is tonight at Midnight....
@@KatieStOresCFPChFCEA thank you. Lol I’ve tried all those things but actually speaking to customer service. I just filed an extension as I want to talk to someone about it. I saw it was an issue with linking another form to schedule C. I’ll probably just end up mailing. I appreciate your ideas. Going to try them all again in a couple days.
An extension is a good idea. It's probably crazy at TurboTax today.
Good shit 👍🏻
Thanks... that's my first 'Good Shit' comment.... I'll see if I can pin it to the top.
I have tried in vain
To clear and restart my taxes
First, I don't have the black side column on my screen
2nd, I can't find the clear and start over option
How do I do this?
Thanks
Hello David, Give this a try, If this doen't work, try Turbotax chat. You have until April 18th this year to file.
To clear and start over in TurboTax, follow these steps:
Log in to your TurboTax account.
Click on the "My Account" button located on the top right corner of the screen.
Select "Clear and Start Over" from the drop-down menu.
You'll be prompted to confirm that you want to clear all of your information and start over.
Once you confirm, all of your entered data will be erased, and you can start over with a blank return.
Note: If you've already paid for TurboTax, clearing and starting over won't affect your payment. You'll still have access to the paid version of TurboTax.
What is the “check this entry” carryover worksheet all about? Wasn’t there last year.
[9:47 AM PST] @SaintOres.com
Hello Ally, Federal Carryovers (worksheets) can be losses, deductions, and other entries carried from last year to be used this year. If you did not have any kind of carryovers from last year to be used against income or deductions for this year, this may not refer to you.
Hi, if my address has been changed, how do I notify IRS about change of address?
Hi Zhimei, if you've recently moved and need to update your address with the IRS, you can use Form 8822. This is the preferred method for individuals to inform the IRS about their change of address. You can download the form from the IRS website, fill it out online or print it and mail it to the address mentioned in the instructions. To complete the form, you'll need to provide your full name, old and new addresses, as well as your Social Security number or Individual Taxpayer Identification Number (ITIN).
@@KatieStOresCFPChFCEA thank you
Hi Katie Great video - Is April 15th the deadline for the last day I can upload my stuff to turbotax?
In other words, Isn't there any earlier deadline by which Turbotax will need my uploads?
Hope that makes sense.
Hello Worthington, The deadline for filing your 2022 federal income tax return using TurboTax is April 15, 2023. This means that you must submit your tax return and any payments due to the IRS by this date to avoid any potential penalties or fees. However, if you need more time to file your return, you can request a six-month extension by filing Form 4868. This will give you until October 17, 2023, to file your tax return, but any taxes owed must still be paid by the April 15th deadline to avoid penalties and interest.
Hello again, This is from the IRS website, NOT TurboTax. The filing deadline to submit 2022 tax returns or an extension to file and pay tax owed is Tuesday, April 18, 2023, for most taxpayers. By law, Washington, D.C., holidays impact tax deadlines for everyone in the same way as federal holidays. The due date is April 18, instead of April 15, because of the weekend and the District of Columbia's Emancipation Day holiday, which falls on Monday, April 17.Taxpayers requesting an extension will have until Monday, October 16, 2023, to file.
How do you file for a return from prior year 2021 ? No taxes owed but now realized my daughter could have refund she could have received.
@@concepcionvito4287 Hello Concepcion, To file a return for the prior year 2021 in TurboTax, follow these steps:
Open TurboTax and sign in to your account.
Select the "Prior Year Return" option from the TurboTax home screen.
Select the prior year you want to file and click "Continue".
Follow the prompts to enter your personal information, income, and deductions for the prior year.
Review your information and make any necessary corrections.
Once you have completed your return, select the "File" option to submit your return to the IRS.
It's important to note that there may be additional fees associated with filing or amending prior year returns in TurboTax.
@@KatieStOresCFPChFCEA thanks for the prompt response. Can you still e file it even if it was prior year?
Hi Katie,
What do I do if I'm getting a dependent deduction when I am filed as independent?
Tax Avocate told me IRS isn't helping no one till after November 30th 2023
Hello Green, If you need help from the IRS, it is best to try to get it before November 30, 2023. If you cannot, be prepared for delays and be patient.
The tax advocate you spoke to may have been referring to the fact that the IRS is currently operating under a continuing resolution, which expires on November 30, 2023. If Congress does not pass a new funding bill by that date, the IRS will be forced to shut down.
It is important to note that this is just a possibility. Congress could pass a new funding bill before November 30, 2023, or they could reach a deal to extend the continuing resolution. However, it is always best to be prepared for the worst-case scenario.
Katie mam, I have a client in India who works as freelancer in usa and after withholding his payment his made.and he also pays income tax in india.asper DTAA he has to pay tax only in india.Mam how can he get back his withheld amount from usa . please advise me.Thank you.
Hello All in, Your client can get back the withheld amount in the US by filing Form 8833 with the IRS. This form is used to claim a foreign tax credit for taxes paid to a foreign country.
Mam, my client and myself both live in India and he does not have social security number then how he can claim in form no.8833.
Yes, you can claim Form 8833 without a Social Security Number (SSN). However, you will need to provide the following information on the form:
Your client's taxpayer identification number (TIN), which is usually their alien identification number (ITIN) or passport number.
The name of the tax treaty that you are claiming.
The amount of income that you are claiming the treaty benefit for.
You can find more information about how to claim Form 8833 without a SSN on the IRS website.
What happens when your Federal e-file is accepted and your state e-file get rejected ???😢
Hello Philip, Correct the error on your state return and re-efile
Where do you list a 1095 c form for employer paid health insurance?
Hello iWander number 2, If you are using TurboTax to file your taxes and have received a Form 1095-C from your employer, you'll need to enter the information from the form in the "Health Insurance" section of TurboTax. Here's how:
---Open your TurboTax return and click on the "Federal" tab on the left-hand side of the screen.
----Scroll down to the "Deductions & Credits" section and select "Health Insurance."
---On the next screen, you'll be asked whether you had health insurance coverage for the entire year. Answer "Yes" or "No" as appropriate.
---If you had health insurance coverage for the entire year, you'll be asked to enter information about your health insurance plan. On this screen, you'll see a question that says, "Did you receive a Form 1095-A, 1095-B, or 1095-C?" Answer "Yes."
---On the next screen, you'll be asked to enter the information from your Form 1095-C, including the employer's name, address, and employer identification number (EIN), as well as the employee's name, Social Security number, and the number of months the employee was enrolled in the health plan.
---Once you've entered all the required information, TurboTax will use it to calculate your premium tax credit (if applicable) and to determine whether you owe a penalty for not having health insurance coverage.
***Note that if you received a Form 1095-B instead of a 1095-C, you'll enter the information from that form in the same "Health Insurance" section of TurboTax, but you'll select "No" when asked whether you received a 1095-A or 1095-C.
Question for the ones who do their own taxes. I've decided to do my own mobile food business taxes this year because many cpa's are backlogged and I don't have time to wait any longer. Most of it was easy because I kept good records all year. I'm just wondering if my food expenses would be considered as supplies or assets? Thank you.
[11:59 AM PST] @SaintOres.com
Hello ILC, That would go under COGS (Cost of Goods Sold).
@@KatieStOresCFPChFCEA I didn't see a cost of goods choice, so would that be under inventory for the year?
[10:58 AM PST] @SaintOres.com
Hello ILC1234, For sole proprietors and single-member LLCs using Schedule C, your Cost of goods sold is calculated in Part III and included in the income section of Part I.
@@KatieStOresCFPChFCEA Thank you! I found everything. I neglected to keep track of my miles and all vehicle expenses for my mobile food business, so I'm not going to write off any vehicle expenses and take it as a lesson learned. I bought a vehicle to specifically use for the business and started keeping records on January, 1st 2023. Is it okay to do this, because I'm not going to just make up log book, plus I don't have gas receipts.
[4:36 PM PST] @SaintOres.com
Hello ILC, The best evidence for claiming the deduction for business use of a vehicle is with written records. There must be evidence available, or the deduction is not allowed. If you can't support the deduction with appropriate documentation, leave it off the 2022 tax return.
can you please make a video on how to enter numbers for nonresident form ?
Hello Md, Thanks for the suggestion. I won't be able to do it until next tax season since all the tax videos are finished for this year.
When doing my MT state taxes they don’t ask if any money was withheld for state taxes on my K-1. So MT thinks I owe but I’m actually due a refund. What do I do?
Well since I’ll probably end up mailing my returns I’m just going to print this one then do and amendment and mail it to.
Can you do a video on how to get away with tax evasion??
Hello Joe, I can do a video on tax optimization and tax reduction strategies so that you don't pay more than your fair share. But without taxes, you won't have roads, airports, school teachers, fire departments, the Marines, tornado warnings, etc.
What will you do , if you file and you have not received it ?
it's december 2023...can i still e-file?
Contact TurboTax directly and ask them the status of e-filing. Let them know the state you are in. E-file will open up again at the end of January, 2024
What if I have 3 -W2s I only see 2 spots.
Hello James, For extra W-2's (or anything for that matter), TurboTax has a "Add another" button. Sometimes it's hard to find on the page.
@KatieStOresCFPChFCEA ok thanks
You're welcome.
I am not understanding where to put in Frontline worker pay for MN
Hello Matthew, This should get you there....
Sign in to your TurboTax account and open your tax return.
Click on "Federal Taxes" in the left menu and then select "Wages & Income" from the dropdown menu.
Scroll down to the "Less Common Income" section and click on "Show More."
Look for the option "COVID-19 Frontline Worker Pay" and click on "Start" next to it.
Follow the prompts to enter your Frontline worker pay information, including the amount received and the employer's name and address.
TurboTax will automatically calculate the tax withholding on your Frontline worker pay and add it to your total income for the year.
Note that if you received Frontline worker pay from multiple employers, you'll need to enter each one separately in TurboTax.
@@KatieStOresCFPChFCEA thank you so much
How about 1099 tax
Hello Pedro, For your tax Filing:
Form 1040: When it's tax season, you'll file a regular tax return (typically Form 1040) to report your income and any deductions you qualify for.
Schedule C: You'll likely need to file Schedule C along with your Form 1040. This schedule details your income and expenses related to your self-employment activity.
Tax Payment: If you haven't paid enough in estimated taxes throughout the year, you'll need to submit the remaining balance with your tax return.
Tax season already!!!!
Yes... it's that time of year.
is there a section if i have 2 w2 forms ?
Hello Michelle, To enter a second W-2 form in TurboTax, you can follow these steps:
Open your TurboTax account and select the federal return you're working on.
On the "Welcome back to TurboTax" screen, click "Continue."
In the "My Info" section, select "Edit" next to "Work on my W-2 and other common forms."
Click "Add Another W-2" and enter the information from your second W-2.
Follow the prompts to enter the rest of your tax information.
Repeat these steps for any additional W-2 forms you need to enter.
Once you've entered all of your W-2 information, be sure to review your return carefully to make sure everything is accurate and complete. If you have any questions or concerns, TurboTax has a team of experts available to help you navigate the tax preparation process.
@@KatieStOresCFPChFCEA Many thanks !!
You're welcome....
Biggest thing is setting birth date
Yes, It's a good idea to check and recheck everything before submitting.
I did not file taxes in 2021 wat should I do
Hello Willie, If you did not file taxes for the year 2021, you will need to file your tax return as soon as possible. You can use TurboTax to prepare and file your taxes. Here are the steps you can follow:
Sign in to your TurboTax account or create a new one if you don't have an account yet.
Select the tax year you want to file, which in this case is 2021.
Enter your personal information, including your name, Social Security number, and filing status.
Enter your income information, including W-2s, 1099s, and any other sources of income you received in 2021.
Enter your deductions and credits, including any expenses or credits you may be eligible for.
Review your tax return for accuracy, and then e-file your return to the IRS.
It's important to note that if you owe taxes for the year 2021, you will need to pay them as soon as possible to avoid penalties and interest charges. If you can't pay the full amount owed, you can still file your tax return and arrange a payment plan with the IRS. Also, you have until April 18th to file your 2022 taxes, or you can file an extension.
Wat about W-2 and 1098-t
Hello Big Cammmmmb, I talked a few minutes on the W-2 starting at 7:12 of the video and a very little about 1098's at 18:30. Hope this helps...
how does one edit entries in turbo tax?
[11:35 AM PST] @SaintOres.com
Hello David, For example, if you need to edit your wages. Open or continue your return. From the menu, select Federal. Then, choose Wages & Income. On the Wages and income screen, select the Edit button next to the item you would like to update or delete.
Can I use 2021 income for 2022 ?
Hello Chanél, 2021 income goes on your 2021 tax return.
Hey if I made money from poshmark but you didn’t get over the income amount to file tax for it does it matter if I don’t report it
Hello Marie, Even if your income from Poshmark does not exceed the threshold for filing taxes, you are still required to report all income earned to the IRS. Failing to report income could result in penalties, fines, or even legal consequences. It's always best to consult with a licensed tax professional or accountant for specific advice related to your individual tax situation.
@@KatieStOresCFPChFCEA is there a page I can find this information in their website?
Hello Marie, TurboTax offers guidance on reporting income from Poshmark sales. To find information about it on TurboTax, you can follow these steps:
Log in to your TurboTax account...
Select the option to start a new tax return or continue an existing one...
In the search bar, type "Poshmark" or "selling online"....
Select the option that best fits your situation...
Follow the prompts to enter your Poshmark income and any related expenses.... Note* If you are unsure about how to report your Poshmark income on your tax return, it may be a good idea to consult a tax professional.
@@KatieStOresCFPChFCEA thanks so much hun, I will. I really appreciate you answering
You're welcome. And remember tax day is on April 18th this year. After that I'm sleeping for a week.
How you file a new claim onto the next W2?
Hello Tony, I am assuming you want to add a second w-2 to your tax return...
Per Turbotax instructions, open (continue) your return if you don't already have it open. Search for W-2 and select the Jump to link in the search results. On the Your W-2 info so far screen, select Add another W-2. Enter the information from the new W-2 on the following screens.
@@KatieStOresCFPChFCEA I just found out how to do it adding a second W2 thank you 😊
Great... You're welcome. And just keep telling yourself how much fun doing taxes is....
@@KatieStOresCFPChFCEA To add another W2 forms is charging me $59. It took me to the deluxe page. Do they charge for limits?
Hello Tony, First off, I don't get paid anything from TurboTax... But here's what I can tell you about your extra W-2. The cost to add another W-2 form to your tax return using TurboTax will depend on the specific TurboTax product you are using and the time at which you purchase it.
TurboTax offers several different products with different pricing structures. Some products, such as the Free Edition, allow you to file a federal tax return with ONE W-2 for free, but may charge additional fees for state returns and other forms. Other products, such as the Deluxe Edition or Premier Edition, may include additional features and support for MULTIPLE W-2 forms, but may also come with a higher price tag.
To get a precise quote for adding another W-2 form using TurboTax, I recommend visiting their website and selecting the product that best fits your needs. The cost will be displayed before you complete your purchase. Additionally, TurboTax may offer discounts or promotions during certain times of the year, so it's always a good idea to check for these before making a purchase.
How could you add more W-2 on turbotax??
[09:35 AM PST] @SaintOres.com
Hello Lucero, Per Turbotax instructions, open (continue) your return if you don't already have it open. Search for W-2 and select the Jump to link in the search results. On the Your W-2 info so far screen, select Add another W-2. Enter the information from the new W-2 on the following screens.
😊
😊😊😊
+P
@@KatieStOresCFPChFCEA 😊
I'm stuck on a section with form 4989. Not sure what it wants
[11:44 AM pst] @SaintOres.com
Hello Yadeesh1, Form 8949 is used to report sales and exchanges of capital assets. Form 8949 allows you and the IRS to reconcile amounts reported to you and the IRS on Forms 1099-B or 1099-S (or substitute statements) with the amounts you report on your return.
@KatieStOresCFPChFCEA thank you! I have consolidated tax form from Ameritrade. It lists short trades and long ones. My question is that when I checked sold stocks, TurboTax opened another sheet. I don't know what that sheet is and how to fill it out
Hello Yadeesh, It's impossible for me to give you professional advice in this setting. You might think about paying extra and get some professional help at TurboTax. They'll have all your info there to look at.
Hey .I chose to file my tax by email put I don't know how any one could help
The IRS doesn't accept tax returns via email. Your choices are... Electronic Filing (e-filing): It's generally faster, more accurate, and allows you to receive your refund quicker. There are two main options for e-filing:
Free File: The IRS offers a program called Free File where you can use tax preparation software from participating companies for free if your Adjusted Gross Income (AGI) falls below a certain limit (apps.irs.gov/app/freeFile)
Paid Tax Software: TurboTax, FreeTaxUSA, etc.
Or you can Mail your return.