(Solution found) A sales tax is a direct tax on consumption that many states and local governments impose when you purchase goods and services. The amount of tax you pay is typically figured as a percentage of the sale price. As of 2021, 45 states and an array of counties and cities charge a sales tax.
Social Security will be providing your information to the IRS to issue the stimulus payment. If you selected the mail option in Turbo. Tax, your return does not get efiled with the IRS and Turbo. Tax does not transmit the information to the IRS for you.
But if you file electronically, the IRS notifies you by email within 48 hours that it has received your return. And if the IRS detects any errors, it will send an error code that Turbo. Tax will translate into a text message telling you what the problem is, how to fix it, and how to retransmit your return.
While we were reading we ran into the question “What happens if TurboTax sends you an error code?”.
And if the IRS detects any errors, it will send an error code that Turbo. Tax will translate into a text message telling you what the problem is, how to fix it, and how to retransmit your return. Can I avoid having to file anything on paper?
How can TurboTax help you with sales tax?
, turbo Tax can help you with determining your eligibility, calculating the deduction and reporting it on all the correct forms. If you receive any sales tax refunds during the year, be sure to reduce your deductible sales tax payments if not using the optional sales tax tables to calculate your deduction.
Fewer mistakes Using tax software such as Turbo. Tax substantially reduces errors. According to the IRS, 20 percent of income tax returns prepared on paper have mistakes, such as missing information or taxes calculated using the wrong tax tables; half of those errors cause folks to overpay their taxes.
Where does turbotax store tax files?
If you are using the Turbo. Tax desktop CD/Download editions, any tax data files or saved PDF’s are normally stored in Documents and in the Turbo, and tax folder.
By default, Turbo. Tax saves tax files in the My Documents Turbo, and tax folder. After locating the path to the tax file on your computer, open your tax return using the same version of Turbo. Tax for that year. For example, open your 2020 return in the Turbo. Tax 2020 program and your 2019 return in Turbo, and tax 2019. Lost or misplaced your CD or download?
My answer was If you use the CD or download Turbo. Tax software, your tax files are stored wherever you save them on the computer that you use. In Windows the default location is the My Documents\Turbo. Tax folder, but you could have saved them somewhere else.
What version of TurboTax do I need to open my taxes?
Important: To open your tax file in Turbo. Tax, you’ll need the the same version of Turbo. Tax as the tax file’s year. For example, you’ll need to open your 2021 tax return in Turbo, and tax 2021 .
The next thing we wondered was: do I have to pay to use TurboTax online?
You may use Turbo. Tax Online without charge up to the point you decide to print or electronically file your tax return. Printing or electronically filing your return reflects your satisfaction with Turbo. Tax Online, at which time you will be required to pay or register for the product .
What is sales tax and how does it work?
A sales tax is a direct tax on consumption that many states and local governments impose when you purchase goods and services. The amount of tax you pay is typically figured as a percentage of the sale price. As of 2020, 45 states and an array of counties and cities charge a sales tax.
Report your sales tax deduction on Schedule A. In the section entitled “Taxes You Paid” be sure to check the box indicating your choice to deduct state sales tax instead of state income tax and enter the amount of your deduction.
Most states charge a sales tax on the purchase of goods sold within their jurisdictions. However, there are several tax-free states in which you can shop that do not impose a sales tax on retail purchases. But, regardless of whether you shop in a tax-free state or not, sales taxes can impact your federal tax return.