TurboChat: Your Tax Questions Answered Live

On our TurboTax Facebook Page this morning, tax expert Bob Meighan solicited tax questions from Twitter and Facebook and answered live via streaming video. We received a ton of great questions, on topics from “when will I get my refund?” to investment handling in TurboTax. Visit this post for a quick overview of what TurboChat is and how to participate.

Tune in for the next TurboChat Feb. 25, 2p.m. PST – 2:30 p.m. PST (5 p.m. EST – 5:30 p.m. EST). Visit our Facebook Page, become a Fan, and chime in with questions of your own so we can get you an expert answer, live.

View today’s TurboChat below:

Comments (35) Leave your comment

  1. My Turbotax was original filed 3/16/2011 and rejected 3 times it was eventually excepted on 5/12/2011 I still have not had my check.

    What should I do?

  2. My 1099-R, box 2b has two options: one is “Taxable amount not determined” and the other is “Total Distribution”. Each option is preceeded by a box and both boxes are blank. Turbotax has asked me to identify which box is marked. What should I do? I checked my 1099 on-line. It is identical to the hard copy. Neither box is checked, X’ed or marked at all in any way.

  3. Surrender cash from life insurance. Do I need to fill up 1099-R form? I couldn’t find what 1099-R category for life inurance contracts in 2011 TurboTax. Does TurboTax copmany or anyone in the community could help on the question?

  4. Hi Guys

    My daughter , who graduated from College last years moved to Colorado to make Phd , so my question is : Can she put the Miles from 2010 into her taxes , even when the car she is driven was bought it for me , but she has been driven since then.

    Thanks

  5. I would like to know why turbo tax has not communicated with me on my refund status. It has changed twice now. I would like to know why I paid 74.95, and not even get an email from turbo tax. It would be nice to know what is going on. My first refund date was 2/11/11, then it was 2/15/11, and now it is 3/01/11. Can someone explain!

  6. I have a question regarding Schedule C and being self employed.

    I filled out all the usual things to do with the schedule C (which I’ve done for years) including the car expenses. Now, in doing my 2010 taxes, I’m being asked to give the info again later on in the process. It’s not that I mind entering the same info again, but it sort of makes me think I’m entering 2 times to get credit for something I’ve already entered. But on the other hand, Turbo Tax is usually pretty good about explaining “if you’ve already entered xxx- don’t enter that here, etc)

    It makes a pretty big difference if I add it- I just don’t want to be told in a few years I was wrong, and have to repay.

    Please help,

    Jeannie

  7. hi eveybody, i m really worried because i dont know what happened with my refund i did this online at MARCH 6Th and untill moment i didnt recibe my refund i dont know what is happening i really would like to chat with someone from turbotax because i payed for this and i recibe anything i would like to know what is happening and if someone can chat with me in spanish please i was trying the chat contact but it is impossible to use i cant please someone from TURBOTAX contact me , Thanks

  8. 3:41 PM 4/12/2010After having difficulting with timing out (via my dialup ISP) on Credit Card payment for E-filing my tax, esp. STATE, OH,!

    vince of turbo tax. process my credit card info and gave me a confirmation number of payment made over the telephone 45min ago.

    NOw i have a new serial number (after going back online with new credit card proceedure) and the confirmation number from vince/turboTax does not work !

    PLEASE help finish up my payment confirmation then i may complete efiling . thanks, jeff (jegall@Juno.com 330-2253734 or better cell if no waiting on either party 216-978-7714)

  9. I have been filling out my small business return with a business vehicle expense that does not get applied even though it is recorded. In other words, the expense is noted on my return but not deducted from my operation expenses. Why is that? and how do I correct it. Thanks

    • A nice cozy chat amognst friends!!They missed the point, of course. The big issue is non-payment of income tax. How to catch the cheats….here lies one of the answers. Many mortgage loans are granted on the strength of both provable income and “soft factors”. The latter include other income, rents etc which the borrower cannot prove (because they are not declared). So here we have taxpayers cheating, banks happy to hear about it but never disclosing it to the APEH (business secret!!). All the APEH needs to do is to open the mortgage files of all borrowers whose initial application failed but who were eventually lent money on appeal (the “soft factors” coming into play). Perhaps once this is exposed people will feel less sympathy for both the borrowers and the banks who have colluded for their mutual gain at the expense of the budget.So simple, it is surprising that our great leader did not think of it himself.

  10. I have had an non related minor living with me since March of 2009

    because her parents kicked her out

    She was 16 at the time

    On May 1 2009 we got her biological parents to sign Notarized papers saying they give me guardianship of their child and made me medically and financially responsible for her in every way, as well as legally responsible for her if she gets in a car crash or breaks a law, and responisble for her education.

    I know that court approved papers are the best but we got papers notarized instead of going to court because it was the fastest way for me to be get permission to sign her school papers and get her medical attention of needed and becaus we were afraid that CPS would take her far away from her school friends and eveything and she would go from foster home to foster home because of her age.

    She Turned 17 on June 4 2009

    and still lives with me to this day

    I know to claim a dependant child they have to live with you over half the year and you need proof of it I have proof she has bee living with me.

    but she is still not related to me

    I claimed her on my taxes

    and found out her parents did too

    Am I allowed to claim her on my taxes?

    Can I take this to court and win?

    And if I have to go to court over this will the Notarized papers stand as proof of my guardianship?

  11. I just submitted my Federal Tax and when I look at my return, it turned out one of my dependent, my wife parent was not added on my dependent, line 6d. So the calculation if off. Then I go back to personal information and update it. Then it calculed correctly adding my mother in law as my dependent. How I am going to correct it since I already submitted my federal return. Thank you

  12. Hi Everyone – Great questions, I recommend becoming a friend of TurboTax on Facebook. Our next TurboChat is this Thursday 2/25…Bob can answer your questions directly during the TurboChat.

    Thanks,

    Ashley

  13. I lost 2 investment property to foreclosure and received a 1099-a. How do I determine if I have a tax liability?

    Property 1

    It stats in box 2 and outstanding balance of $124K

    Box 4 a fair market value of $42K

    Property 2

    Box 2 $159K oustanding balance

    Box 4 $170K fair market value

    Thanks

  14. My mother and I purchased a house together. How do we file our taxes.

    1. My mother is retired and receives under 16,000 a year.

    2. Can I claim her on my taxes?

    3. How should we handle the property taxes?

    4. We recnetly refinance the house How should this be handled?

  15. during the course pof following th eguidelines on Turbotax medicare, I received a statement that my employer had calculqated the rate of medicare payemnt using the wrung formula;that before icontinud,I should request and receive a corrected w-2 form. My employer informed me that indeed their rate is correct;that Turbo is wrong? So what do I do about filing?

  16. last year my wife and i filed jointly for the first time. she owed back taxes from previous marriage and the company that did our taxes said it would not come out of my returns, well it did. Taxesw were paid off but this yr she owes a student loan she has to pay off, should we file married but seperate.

  17. Where do I enter a refund of overpaid interest in the turbotax program? It will only allow me to enter box 1, not box 3.

  18. Where do put utilities for home business? I see the section specifically for home business expenses. Then I also see another section that asks for utilities again. This is found along with advertising, meals, repairs, and other expenses. I’m confused because it asks twice for utilities.

  19. My wife has been unemployed since July. She has recieved unemployment benefits since then. We were advised by a person that filing marries/separate and havubg the two children claimed by her would make help us out. Any truth to this?

    Thank You

  20. I filed on 01/18/10 and was told by Turbo Tax I would get my refund on 01/29/10 and got nothing. Then again to wait until 02/05/10 and got nothing and did not get my refund on 02/12/10. When I log into the WMR… it says they have no information on my refund. Then it asks for the date that I filed and when I add the 01/18/10 date I get a tax code of 1102. I found out that the 1102 code is because it has been over 3 weeks since my refund was filed. I still get no info when I log into the WMR.

    ~I have talked to someone else going through the same thing and that person said that she called the IRS and they were NO HELP…they told her that she had to wait 30 days more and they would give a referral to the processing center. The IRS is of no help….

    ~Talked to Turbo Tax and this is with the IRS and the lady at Turbo Tax said this was the firs tthat they have heard of this..(yeah right) I told her to go onto the live community and see the posts from a lot of different people looking for answers. I checked the WMR site as they usually update on Wednesdays and nothing has changed, I also called the IRS automated system and it has nothing either. I have posted and commented on A LOT of pages and most people who filed with Turbo Tax on Jan. 15-19th is having this problem. The lady at Turbo tax looked into my stuff to the IRS and said everything was accepted OK and I will be getting my refund but could not tell me when as that is an IRS issue. But when you call the IRS they just tell me that my refund is still processing

  21. i filled my standard tax return forms completely last weekend but waited till this weekend to file.

    in these last 5 business days, my tax refund decreased from over 3k to only 1.2k. very sad.

    the only significant change in software that i saw was the addition of the option to select graduate student, sophomore etc under education. can anyone help me understand why would this change result in my tax refund go down by a couple thousand dollars?

    what should i do…should i create a new account and file again?

    please help!

    Shikha

  22. Last year I used Turbo Tax for our Federal & State tax. Then I did my daughters Federal (she pays no state tax).
    Every time I go into Turbo tax I get our return to work with. How do I get my daughters tax downloaded from last year?

  23. i recieved my refund,it was direct deposited into my account.but i got back more than i was supposed to who should i contact? and can i get a real person to talk to?

  24. When you use turbo tax this year…will the refunds be coming through santa barbera bank…as in the past years….Thanks..

  25. Hi..i claim an independent an error; so if i do amendment will that be electronically sent in when i complete the 1040X form and how long will it take to correct?

    Thank you,

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