Schedlue 1 Part 2 line 24z

Forum|Forum|3 years ago
January 31, 2023
16 replies
62 views

I am using TurboTax Premier online and need to enter a dollar amount on Schedule 1 Part 2 Adjustment to Income specifically on line 24z. Where do I go on the menu to be able to enter this dollar amount.

TurboTax Premier Online

PatriciaV

Alumni - Intuit

Please clarify the source of the adjustment you need to report. This will help determine which topic to use to enter the adjustment amount.

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jwingbar Author

Level 2

They are legal fees associated with a Whistleblower settlement that I can deduct on Schedule 1 Part 2 line 24z.

DMarkM1

Alumni - Intuit

Some Whistleblower legal fees such as those related to certain employment cases, such as a claim of unlawful discrimination, a claim against the US government, or a claim made under the Social Security Act, are deducted as an adjustment to income.

In TurboTax that will be a negative entry in the "Other Reportable Income" topic. This will show in line 8z which flows to line 10 on Schedule 1 and line 8 on the form 1040.

Here are the steps in online versions:

Wages and Income left-hand menu
Scroll to "Less Common Income"
"Show More"
"Start/Revisit" Miscellaneous Income
"Start/Revisit" Other Reportable Income
"Yes"
Description "Whistleblower Legal Fees"
Enter the amount as a negative number "-1000"

To see the entries on the forms in online versions:

"Tax Tools" in the left hand menu
"Tools"
"View Tax Summary" in the main screen
"Preview my 1040" in the left hand menu

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DianeW777

Alumni - Intuit

The best way to report this are by using the steps provided by our wonderful Tax Expert @DMarkM1. It will include and subtract the income appropriately as you need. As long as you have your backup documents that's what really matters.

Scroll down the page to the last section titled: Less common Income and click show more;
Select start or update next to the last topic titled Miscellaneous Income, 1099-A, 1099-C;
Scroll down to the last option titled Other reportable income and select start or edit;
When it asks, "Any other reportable income?" say yes then you will make one entry
Enter this description: Discrimination Legal Fees excludable income and enter amount as a Negative (-) number

@jwingbar

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jwingbar Author

Level 2

I will try but I have an experts advice that the amount to be deducted must show on Schedule 1 PART 2 LINE 24 z Adjustment to Income or I will risk being audited. I have already paid 139 dollars and now feel that I cannot use TurboTax. I can't believe you do not have a way or solution so I can enter a dollar amount on line 24z on Schedule 1 Part 2. This seems a little strange to me. The form is there for a reason and you are telling me I cannot use that part of the form. I don't understand.

jwingbar Author

Level 2

Hello

I cannot use a workaround for this item. My question is very basic and direct. How do I access Schedule 1 Adjustment to Income Part 2 line 24z. There is a line 24z. How do input data into line 24z on Schedule 1 Part 2? That's the only way I can report. Please help me without a workaround. Thank you.

AmeliesUncle

Level 15

@MichaelG81 Did you even read what the OP is trying to do? He isn't selling personal items. And even if that was the case (which it isn't), there are other reasons to use 24z, and TurboTax does not allow you to do that

@jwingbar As Fanfare mentioned, it looks like that may go on line 24i. However, I am unsure if TurboTax allows you to enter it there or not.

sean_w

Level 2

Yes, the same here. I have been finding the way to fill in schedule 1 line 24z, until reading this post and realizing that it is not possible now. This should be a easy fix. Hope it can work out asap.

sean_w

Level 2

By the way, my usage is to adjust according to tax treaty.

ErnieS0

Alumni - Intuit

Here’s how to enter an item on Schedule 1, line 24z. You’ll need TurboTax CD/Download.

See How do I switch from TurboTax Online to TurboTax CD/Download?

Once you have your download installed on your computer, tap Forms in the top right corner
In the left column, select 1040/1040SR Wks
Go to Schedule 1, line 24z
Highlight the leftmost line and right-click and select Override or type Ctl-D on your keyboard. Enter your description.
Repeat the procedure for the middle line
Tap Step-by-Step where Forms used to be to return to the interview mode.