I am using the TurboTax Business version for the first time and need help with asset depreciation schedules. Specifically, I am trying to match my previous years' calculations, where an asset was depreciated using the General Depreciation System, HY, 200DB. However, TurboTax does not list General Depreciation System as a valid depreciation type and keeps selecting MACRS, which shows the asset's depreciation under MACRS on Form 4562, unlike my previous year's return. How can I manipulate the asset worksheets in TurboTax to match my previous calculations?

February 6th, 2024

My husband had a credit card that I was unaware of. The balance was cancelled after he died and I found out about it. My tax person asked me to check if a 1099C form will be sent out. The agent I spoke with last year said he didn't think that would happen. Which tax year are you filing for? Anything else you want the Accountant to know before I connect you?

July 20th, 2024

I became the administrator of my mother's estate in 2020 after she passed away in November 2019. I need to file her 2019 taxes as well as my own 2020 taxes, for which I received money from her 401k, 457k, pension, and Roth IRA. How should I handle filing these taxes, and what impact will the inherited funds have on my income tax?

July 25th, 2024

I am 43 years old with dependents and have not received any stimulus checks despite owing child support. I need to know if I qualify for those checks and require assistance with filing my taxes.

February 17th, 2023

I received a letter about my stimulus check. How old are you, do you have any minor dependents, and what is your typical filing status? Do you know roughly what you made this year?

November 27th, 2024