If you’re one of the more than 150,000 Americans who has decided to “get your side hustle on” by driving for Uber, this might be the first time you’ve taken on the responsibilities of self-employment, including reporting business earnings on your inc
There are penalties for missing the deadline for the new 1099-NEC form and the updated 1099-MISC for both tax filers and businesses.
If you did a Backdoor Roth, which involves making a non-deductible contribution to a Traditional IRA and then converting from the Traditional IRA to a Roth IRA, you need to report both the contribution and the conversion in the tax software. For more information on Backdoor Roth in general,...
You’ll also be asked to provide information from 1099s, like bank interest or dividends earned. It gets a little more complicated when you have to enter stock transactions. But it’s also possible to import the capital transactions schedule from youronline brokerage account. With that capability...
This year I was so fed up with Quickbooks upgrade fees and intuit in general for not making a better mac product, that I wanted to try something different. The last two years, TurboTax was about 90% ready for mainstream. Maybe the Trump rules goofed them up, but that is no excuse. ...
For example, it will ask you if you have dependents. If you say yes, you’ll be guided to enter their information. If you say no, the software will skip all things related to dependents. If it asks for information that you need to track down, or haven’t received yet, you can skip...
making the process much faster and easier. Plus, you don’t have to worry about making any mistakes when entering the information manually. In addition, TurboTax can help you take advantage of deductions and credits that you may not have been aware of when you filed your prior year taxes. ...
You also don't have to manually enter all of your tax information. TurboTax can import your W-2s and other tax documents from over 3 million companies, making the process easy and accurate. The Taxcaster tool also estimates your possible tax liability or refund amount, which can help you ...
Similar to regular limited partnerships, but MLP shares are traded on the major exchanges, making for a much more liquid investment. Although limited-partnership losses are considered passive, income from an MLP is considered investment income rather than passive income. That means passive losses can...
If you are using TurboTax Premium, check out How do I enter my Lyft tax information? for step-by-step instructions. The Actual Expenses method The Actual Expenses method is based on the expenses you actually incur in the operation of your vehicle. It includes things ...