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Education
There is a lot of informational data on various 1099s. Many of us use TT for the program to decide what needs to be included in taxable income or not. For example, we enter tax-exempt interest from Form 1099-B, and TT does not add it to taxable income. I personally think the programming and the reliance on the user to determine taxability, and then not to enter a 1099-Q, is lazy. That is part of the reason people use TT. TT could ask questions regarding the circumstances and handle appropriately on the tax forms.
2 weeks ago