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Sunday
So my situation is that I have a dependent child (who was 20 at the end of 2025 and is a single full-time college student). I make too much to claim any education related tax credits for them on my r...
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So my situation is that I have a dependent child (who was 20 at the end of 2025 and is a single full-time college student). I make too much to claim any education related tax credits for them on my return. They had $740 in earned income (no taxes were ever deducted from this amount) and $2553 in unearned income (interest + dividends - capital losses). I understand that there is no "kiddie tax" since the unearned income is not above $2700. But Turbotax is saying that they owe $0 in federal taxes when I was expecting that they would still owe a small amount. When I go into forms mode, on their 1040, their adjusted gross income on line 11a is $3293 ($740 + $2553). And their standard deduction on lines 12e and 14 is $1350. So their taxable income on line 15 is $1943 ($3293 - $1350). Yet, the tax amounts on lines 16, 18, 22, 23, and 24 are $0. I do not understand why this is so. Shouldn't they owe some taxes on the $1943 amount? According to the 2025 tax table (https://www.irs.gov/publications/p17#d0e49843), I would think that they should owe $194 (10% of $1943). They do need to file a Form 8615, but because their unearned income is not more than $2700, line 3 is negative and the instructions say "If zero or less, stop; do not complete the rest of this form but do attach it to the child’s return". They don't have any other tax credits or deductions (besides the $1350 standard deduction for someone claimed as a dependent) so I don't understand why their federal tax liability is $0. On their 2024 tax return, they did have to pay $1594 in state taxes (2024 state tax paid in 2025). Could that have something to do with this? On the 2025 Deductions and Credits screen, this is the only thing that's not $0, which lists $1594 on the "Other Income Taxes" line in the "Estimates and Other Taxes Paid" section. I'm wondering if there's a Turbotax bug here that's not handling this situation right. Thanks for any ideas.
Sunday
@Aashugpt ,
(a) are you saying that you have been in the USA since Oct. 2024 ? What visa ?
(b) that you have earned income and NOT filed a return for 2024 and 2025 ?
(c) What are you tryin...
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@Aashugpt ,
(a) are you saying that you have been in the USA since Oct. 2024 ? What visa ?
(b) that you have earned income and NOT filed a return for 2024 and 2025 ?
(c) What are you trying to achieve with getting the 6166 certificate of residency ? Reduced tax rate in your "home " country per tax treaty ? Which country ?
Note that NOT having filed 2024 return may expose you to various penalties ( failure to file, failure to pay ) in addition to interest charges on any unpaid liabilities.
You can add your answers to this thread or PM ( NO PII -- Personally Identifiable Information) me , --your in formation/response is then private.
Look forward to hearing from you
Sunday
You can pay your taxes with direct debit, if you are e-filing your return and choose Withdraw the money from my bank account.
If you are printing and mailing your return, you won't see a direct...
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You can pay your taxes with direct debit, if you are e-filing your return and choose Withdraw the money from my bank account.
If you are printing and mailing your return, you won't see a direct debit option, but you can do this instead:
In TurboTax, select Pay by check when asked how you want to pay your taxes.
Follow the instructions to print a paper copy of your return.
Throw out the 1040-V voucher that prints out. You won't need it.
Go to the IRS Direct Pay site and follow the instructions to submit your payment.
Please see this help article for more information.
@user17751614665
Sunday
You can deduct the mortgage interest that you paid while a California resident, regardless of the house's location. So if you made payments on the Oregon house while you were still a California resi...
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You can deduct the mortgage interest that you paid while a California resident, regardless of the house's location. So if you made payments on the Oregon house while you were still a California resident, they are deductible.
Sunday
1 Cheer
If the second 1099-Misc is identical to the first, you should report it only once. Since you've already contacted the Payer and they claimed they only sent one, the duplication error will likely be c...
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If the second 1099-Misc is identical to the first, you should report it only once. Since you've already contacted the Payer and they claimed they only sent one, the duplication error will likely be caught by the IRS's matching system.
However, if you would prefer to report this duplicate, you can do so without paying the additional tax. Simply make an additional 1099-Misc entry, but include a second line item with a negative value equal to the duplicate 1099. This effectively zeros out the duplicate so that your total matches the transcript, while your net income remains correct.
To enter the Form 1099-Misc and also the duplicate, do the following:
Go to Wages & Income, select Add more income and scroll down to Other Common Income
Click the down arrow and select Form 1099-Misc, click Start or Revisit
Enter your 1099-Misc exactly as it appears on the original Form 1099, click Continue
In the "Describe the reason for this 1099-Misc", write a description in the box, such as "1099-Misc for royalties" (Remember the description for later)
Select "None of these apply" on the next screen and click Continue
Answer the additional questions and click Continue
Note: Since they are identical, you will likely receive a "You might have duplicate Form 1099-Miscs"
Next, you will need to make the offsetting entry:
Scroll down, but this time, go to Less Common Income Home sale, canceled debt...etc (Found near the bottom of the options)
Click the down arrow to the right and click Add to the right of Miscellaneous Income, 1099-A, 1099-C
Scroll down to the bottom and select Start to the right of Other reportable income (found near the bottom)
Click Yes when you reach, Any other taxable income?
Click Add and here you will enter, "1099-Misc for royalties - duplicate", along with a negative, Continue
Sunday
Where you report your CRP income depends on the purpose of the planting activity. Reforestation refers to the replanting of trees in areas where forests have been cut down or degraded. This is separa...
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Where you report your CRP income depends on the purpose of the planting activity. Reforestation refers to the replanting of trees in areas where forests have been cut down or degraded. This is separate from planting trees on land that has not been previously forested.
Since you already report farm rental income, it's logical to include the CRP income with that activity, especially if the CRP covered most of the costs of planting the trees.
You may wish to consult a forestry expert in your area for more specific guidance.
Sunday
Hi ... I have a beneficiary 1041 Schedule K-1 which I've entered in the Federal interview. Dividends and capital gains/losses have flowed to Federal Schedules B and D as expected. I also have a MA...
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Hi ... I have a beneficiary 1041 Schedule K-1 which I've entered in the Federal interview. Dividends and capital gains/losses have flowed to Federal Schedules B and D as expected. I also have a MA Schedule 2-K1 with only interest & dividend income (Line 8). Based on other guidance, I've entered the appropriate MA adjustment in the MA Estate/Trust portion of the interview. This caused TT to generate a MA Schedule E with the appropriate adjustment. My issue is that the Schedule E result is not flowing into the return to be filed. I thought I would see it on MA Form 1. When I generate the filed return for review, MA Schedule E is not included. In case it's significant, the MA estate interview states: You reported income or loss from this estate/trust of $0 on your federal return. I believe this is correct as all the K-1 dividends/gains have been reported on other forms in the Federal return. Thanks in advance for any guidance.
Sunday
To determine the MAGI or Modified Adjusted Gross Income for your household premium tax credit, you will add you and your spouse's Adjusted Gross Income (line 11 of your tax return Form 1040) to the ...
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To determine the MAGI or Modified Adjusted Gross Income for your household premium tax credit, you will add you and your spouse's Adjusted Gross Income (line 11 of your tax return Form 1040) to the Modified Adjusted Gross Income of your dependent, who is required to file their own tax return.
This is per the instructions for Form 8962. See this link as he instructions provide a little worksheet to determine the MAGI on page 8 under Line 2a and 2b Instructions Form 8962.
Generally, a dependent must file if their earned income is greater than $15,750, and their income is only included if they are required to file.
See also:
When should I include Form 8962 with my tax return?
What is the Premium Tax Credit (PTC) and What is Tax Form 8962?
Please return to Community if you have any additional information or questions and we would be happy to help.
Sunday
It depends on the numbers. The fact that your parents paid the balance of the tuition, means it goes on their return (assuming you are their dependent).
It needs to also go on your return only...
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It depends on the numbers. The fact that your parents paid the balance of the tuition, means it goes on their return (assuming you are their dependent).
It needs to also go on your return only if some of the scholarship is taxable.
For details, see this post on the five main points on the 1098-T:
https://ttlc.intuit.com/community/college-education/discussion/re-what-do-i-do-with-form-1098t/01/3760212#M63114
Sunday
I would enter it under Less Common Income -> Miscellaneous Income, 1099-A, 1099-C -> Other reportable income. If this is to be reported on a Form 1099-R, I would expect the form to have code E in...
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I would enter it under Less Common Income -> Miscellaneous Income, 1099-A, 1099-C -> Other reportable income. If this is to be reported on a Form 1099-R, I would expect the form to have code E in box 7. This was a corrective distribution due to the employer not following the terms of the plan when they allowed a contribution before eligibility requirements were met. If you receive and enter a code-E 2025 Form 1099-R, you would not enter it as Other income. You aren't changing this to be an ordinary contribution, it already is an ordinary contribution because it's a failed rollover. What would be changed is how the deposit is reported on the 2025 Form 5498 for the IRA that received the deposit.
Sunday
Turbotax doesn't know what you did other than what you carried over from 2024 or entered in 2025. If it's showing you had prior year non-deductible contributions / basis in your Trad IRAs then check...
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Turbotax doesn't know what you did other than what you carried over from 2024 or entered in 2025. If it's showing you had prior year non-deductible contributions / basis in your Trad IRAs then check your last filed Form 8606 Line 14 which is what Turbotax will carry forward to your 2025 8606 Line 2 if you have new activity in 2025. folks have posted similarly then remember a contribution from years past so be sure that your basis is 0 before overriding this number as it came from somewhere in your tax history, and you may miss out on tax free distribution of that money. If you think your basis is wrong and should be 0 then why "taxable IRA number is wrong"? if you explain more maybe someone can help further.
Sunday
It is possible. The Washington State Department of Revenue website here states: The State of Washington does not have a personal or corporate Income Tax.
Sunday
The IRS is no longer sending checks with the exception on some situations. The IRS is encouraging people to have direct deposits, there are some resources that they are recommending, where you might...
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The IRS is no longer sending checks with the exception on some situations. The IRS is encouraging people to have direct deposits, there are some resources that they are recommending, where you might be able to open an account online.
FDIC.gov/GetBanked
MyCreditUnion.gov
VA.gov Veterans Benefits Banking Program
Modernizing payments to and from America’s bank account
Sunday
If Turbo Tax calculates a penalty on 1040 line 38…..You might be able to eliminate it or at least reduce it. You can go to Federal Taxes tab or Personal tab, under Other Tax Situations and select St...
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If Turbo Tax calculates a penalty on 1040 line 38…..You might be able to eliminate it or at least reduce it. You can go to Federal Taxes tab or Personal tab, under Other Tax Situations and select Start by the Underpayment Penalties. You will answer a series of questions that may reduce or eliminate the penalty. Or you can elect to have the IRS figure the penalty for you. It's form 2210. It's under Federal or Personal (for Home & Business Desktop) Other Tax Situations Additional Tax Payments Underpayment Penalties - Click the Start or update button
Sunday
@scouse_91942 TTX seems to be calling most/many 1099-R forms "Annuities" this year....even if they are regular pensions. In a way, even regular pensions are "annuitized" but yeah, using that te...
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@scouse_91942 TTX seems to be calling most/many 1099-R forms "Annuities" this year....even if they are regular pensions. In a way, even regular pensions are "annuitized" but yeah, using that term generically to most everything is causing some unnecessary concern. There are even several pages that seem to call it an Annuity for my once-a-year 401k RMD withdrawal, that is no way annuitized. I just ignore the term and answer as if it is asking about my "1099-R" in place of the word "Annuity"
Sunday
1 Cheer
Are you using a Mac version of the Desktop program?
The Mac version doesn't display the Delete button at the bottom of the form you are looking at in Forms mode as the Windows version does. Ins...
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Are you using a Mac version of the Desktop program?
The Mac version doesn't display the Delete button at the bottom of the form you are looking at in Forms mode as the Windows version does. Instead, if you select Forms from the very top bar menu, and the Open a Form, the drop-down menu includes a choice to "Remove Form xxxx" (the one that is displaying).
You can also choose the option to use the Forms menu at the top bar in the Windows version (though it says Delete xxxx) versus selecting Delete Form at the bottom of the display.
@jeff_elbel
Sunday
and yet...USAA logo is still proudly displayed inside the turbotax import screen. Brought this up last year...but still not corrected.
Sunday
The Intuit Password is not accepted to open TurboTax Software
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