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an hour ago
@rjs - Thank you for your reply! The amount is $2,006. And yes, he's under 18 - he was 13 in 2025.
an hour ago
DD—Cost of employer-sponsored health coverage. The amount reported with code DD is not taxable.
an hour ago
If the 24-character Tracking ID for Merrill Lynch isn't on the bottom of page one of the paper copy,
Log in to your Merrill account online,
Scroll to the Tax Documents section,
Open the ...
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If the 24-character Tracking ID for Merrill Lynch isn't on the bottom of page one of the paper copy,
Log in to your Merrill account online,
Scroll to the Tax Documents section,
Open the PDF,
The ID is provided for importing.
an hour ago
If you only have one business, or line of work, you can enter both 1099s as your income, summed together in your Schedule C. If they are separate businesses, you can add the second 1099-NEC, and cho...
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If you only have one business, or line of work, you can enter both 1099s as your income, summed together in your Schedule C. If they are separate businesses, you can add the second 1099-NEC, and choose to create a second business.
Here is how to enter the 1099-NEC in TurboTax Online: 1. Navigate to Federal > Income > Wages & Income Summary 2. Locate Other Common Income and select to expand 3. Select Start (or Revisit) to the right of 1099-NEC 4. Answer Yes, you got a 1099-NEC 5. Complete the interview to report the income
an hour ago
It has a monetary amount. What does that mean?
Topics:
an hour ago
@veenajay51 If you used the Desktop program last year here’s How to transfer into the Online version. You need to have the prior year .tax2024 file on your computer. Expand the link if you used the...
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@veenajay51 If you used the Desktop program last year here’s How to transfer into the Online version. You need to have the prior year .tax2024 file on your computer. Expand the link if you used the CD/download last year........ https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/transfer-last-year-return-turbotax-online/L279eUvY2_US_en_US?uid=l8w7nlbv Or here’s How to switch and transfer from the Desktop program into the Online version........ https://ttlc.intuit.com/community/tax-topics/help/how-do-i-switch-from-turbotax-cd-download-to-turbotax-online/00/859756 If you already started an online return you will have to clear it and start over to transfer. How to clear and start over https://ttlc.intuit.com/community/using-turbotax/help/how-do-i-clear-and-start-over-in-turbotax-online/00/26444 If you used the Desktop program before you may notice several differences and not like the online version. It has less features and no Forms Mode. The Online versions don't have all the same forms so you might have to upgrade to a higher Online version. You can only do 1 return per account. Your return is only saved online so be sure to save both the .tax2025 data file and the pdf file to your computer when you are done. In case you need to amend in the future or if you need a copy to get a loan or something. You might not be able to access your online return when you need a copy.
an hour ago
You don't need a form 1099-B to enter gain/loss income from investments; just follow the steps to manually type in 1099-B details, and then enter your transaction details (cost, proceeds, dates, etc....
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You don't need a form 1099-B to enter gain/loss income from investments; just follow the steps to manually type in 1099-B details, and then enter your transaction details (cost, proceeds, dates, etc.) by hand. Pick your software program below and then follow the navigation-
Manually enter your 1099-B in TurboTax Online by following these navigational steps:
Tax Home
Federal
Income
Investment and savings
Select Start next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other
Select (+) Add investments
Select Enter a different way
Select Type it in myself
Select Stocks, Bonds, Mutual Funds, select Continue
Proceed through the question screens to enter all your 1099-B info.
Manually enter your 1099-B in TurboTax Desktop by following these navigational steps:
Federal
Wages & Income
Select I'll choose what I work on
Investment Income
Select Start next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other
Select (+) Add investments
Select Skip Import
Select Stocks, Bonds, Mutual Funds, select Continue
Proceed through the question screens to enter all your 1099-B info.
Learn more: 2025 IRS Pub. 550 Investment Income and Expenses
an hour ago
Turbo Tax is not giving me an option now to select between Credit or Selection. It's now defaulting to Subtractions.
Topics:
an hour ago
Yes, this experience has been reported to our tech support team. For tax year 2025, FTE for Michigan is not supported in any version of TurboTax. Changes in Michigan tax law may explain this change. ...
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Yes, this experience has been reported to our tech support team. For tax year 2025, FTE for Michigan is not supported in any version of TurboTax. Changes in Michigan tax law may explain this change. We have not been given any information about future tax years. But the software team is aware of your concerns.
an hour ago
The "here" that I'm referring to is the 1099-OID summary page in the software package (Turbo Tax)
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an hour ago
To clarify, if your son is not required to file a tax return, the income will not be reported anywhere.
an hour ago
1 Cheer
You cannot report your son's prize income on your tax return. If it has to be reported at all, it would have to be on his own tax return. The first question is whether he is required to file at all. ...
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You cannot report your son's prize income on your tax return. If it has to be reported at all, it would have to be on his own tax return. The first question is whether he is required to file at all. If he his, the next question would be whether he is subject to kiddie tax. To answer these questions we need to know the exact amount of the prize on the 1099-MISC.
You will still be able to claim him as a dependent as long as he did not provide more than half of his own support for the year. It seems unlikely that he did that.
Since you call him a minor, I am assuming that he is under 18 years old.
an hour ago
As other users have mentioned, you will need to complete the related forms manually then file your Michigan State tax return by mail. If a form states that a line is "not supported," any number you e...
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As other users have mentioned, you will need to complete the related forms manually then file your Michigan State tax return by mail. If a form states that a line is "not supported," any number you enter for that field will not be used in the form calculations. This may explain why you are unable to override a blank field.
@yourstruly47
@cl85
an hour ago
As a guideline, items should be valued at roughly 30% of their original cost, or by using thrift store guides from organizations like Goodwill NNE or Planet Aid.
an hour ago
AnnetteB6 These posts are about excess contributions, not early distributions as Form 5329 would report it if follow your instructions. The Form 5329 instructions clearly state that it should not be ...
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AnnetteB6 These posts are about excess contributions, not early distributions as Form 5329 would report it if follow your instructions. The Form 5329 instructions clearly state that it should not be filed if the excess contributions were withdrawn. On page 7, line 23, it says: “Enter the excess of your contributions to Roth IRAs for 2025 (unless withdrawn—discussed below).” It then explains: “You can withdraw some or all of your excess contributions for 2025, and they will be treated as not having been contributed if you withdraw any earnings on the withdrawn contributions and include the earnings in gross income (see the Instructions for Form 8606 for details).” The Form 8606 instructions on page 7 provide a simple way to handle this: “You must include the amount of the distribution of the returned contributions you made in 2025 and any related earnings on your 2025 Form 1040, line 4a. Also include the related earnings on your 2025 Form 1040, line 4b. Attach a statement explaining the distribution.” To avoid 10% tax just don’t report return excess contributions as early distribution. Could you please provide any IRS reference showing that excess contributions that were withdrawn still require filing Form 5329, or that EXCESS contribution and earning that return have to be reported as return EARLY distributions on Lines 1 and 2 of Form5329? P.S. All of this discussion exists only because TurboTax, after more than 20 years of Roth IRAs and tens of thousands of taxpayers withdrawing excess contributions, still cannot provide a trivial pass-through to fill in two numbers.
an hour ago
I believe my property got deleted because it was rented for 0 days. But I will try both 1 day and 1 dollar and report back here. Thanks!
an hour ago
I work part time with two employers
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an hour ago
Please clarify your question by adding some additional information so we may better help you. Such as: What is your spouse trying to qualify for? (Caregiver for Long term care insurance?) Is your sp...
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Please clarify your question by adding some additional information so we may better help you. Such as: What is your spouse trying to qualify for? (Caregiver for Long term care insurance?) Is your spouse a self-employed caregiver? Did they receive a W-2? What are you trying to enter in TurboTax? What screen are you on and what does is say?
an hour ago
Can you clarify your situation?
Are you trying to file your return?
Did You get an error message?
What was the message, What errors do you have?
Did you run a Final Review and correct a...
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Can you clarify your situation?
Are you trying to file your return?
Did You get an error message?
What was the message, What errors do you have?
Did you run a Final Review and correct all of the errors that were listed?
an hour ago
El problema es que mi declaracion inicial no es con Turbotax, sino con otra empresa web. Ellos no me pueden ayudar con la forma 1042-S (no la soportan). TurboTax dice que la soporta, pero como ya ten...
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El problema es que mi declaracion inicial no es con Turbotax, sino con otra empresa web. Ellos no me pueden ayudar con la forma 1042-S (no la soportan). TurboTax dice que la soporta, pero como ya tengo la forma 1042 aprobada e impuestos pagados, quiero saber si con TurboTax puedo hacer la correcion y como? gracias