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a month ago
i DID NOT USE TURBO TAX LAST YEAR AND I NEED TO MANUALLY ADD A CAPITAL LOSS CARRYOVER FROM 2024 TO THIS YEAR'S RETURN. HOW DO I DO THAT IN TURBO TAX?
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a month ago
How do I get to the W-4 section?
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a month ago
Yes. The credit reduces taxable income so it does matter where it is listed and how much. Since you are filing a joint return, you want to allocate the money to be most beneficial for you. If only on...
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Yes. The credit reduces taxable income so it does matter where it is listed and how much. Since you are filing a joint return, you want to allocate the money to be most beneficial for you. If only one of you works creating a high tax liability, put it all on that person. If you both work, you want to reduce each person's tax liability. The credit is only good up to the tax liability.
For example:
Taxpayer has $500 liability Spouse has $400 liability and you have a credit of $700.
You could put $500 on taxpayer and $200 on spouse.
You can arrange the number to a max of $400 on spouse and $500 on taxpayer in this scenario.
You would lose money if you put $700 on taxpayer.
a month ago
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a month ago
Original returns were accepted but payment due is not set to be paid until 4/1
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a month ago
How do I proceed so I can receive my refund
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a month ago
Is refunds from overpaid taxes taxed the following year
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a month ago
1 Cheer
That is correct. It is taxable to the extent that you received a tax benefit from the deduction. So last year the SALT limit was $10,000 so if you had state and local income taxes in excess of $10,...
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That is correct. It is taxable to the extent that you received a tax benefit from the deduction. So last year the SALT limit was $10,000 so if you had state and local income taxes in excess of $10,000, you would not have benefited from the entire amount you paid in. That excess would not be taxable if it was refunded since there was no deduction for it. If it is listed, then there is nothing more that you need to do as TurboTax has already calculated that it is not taxable.
a month ago
I'm finishing up my 2025 taxes. When I look at the 2 year comparison summary worksheet, I note that the numbers for 2024 are inaccurate by a significant amount when compared to my Turbotax filed 202...
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I'm finishing up my 2025 taxes. When I look at the 2 year comparison summary worksheet, I note that the numbers for 2024 are inaccurate by a significant amount when compared to my Turbotax filed 2024 return. Most of the difference seems to be in Rental Income, which shows far less in the comparison worksheet than on my as filed taxes. Any idea why this might occur? Anything I need to double check in 2025 tax prep to make sure 2024 numbers are being pulled correctly as they impact 2025 taxes? Thanks.
a month ago
You are being asked to enter your 2024 AGI in order to e-file 2025. If you filed a 2024 tax return you have an amount on line 11 of your 2024 Form 1040.
Where do I find my AGI?
https://t...
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You are being asked to enter your 2024 AGI in order to e-file 2025. If you filed a 2024 tax return you have an amount on line 11 of your 2024 Form 1040.
Where do I find my AGI?
https://ttlc.intuit.com/community/agi/help/how-do-i-find-last-year-s-agi/01/25947
Your 2024 tax return shows your 2024 Adjusted Gross Income (AGI) If you filed a joint return then the AGI is the same for each of you.
Form 1040 line 11
If entering the amount from your 2024 tax return does not work, then try entering “0” instead. If that does not work and you still cannot e-file, then print, sign, and mail your tax return.
You can get a free transcript of your past return from the IRS:
https://www.irs.gov/individuals/get-transcript
Note: If you filed late or amended your return, your correct 2024 AGI may not be in the system.
https://ttlc.intuit.com/questions/1944348-how-do-i-print-and-mail-my-return-in-turbotax-online
Note: If you mail your federal return, you will also need to mail your state return. You will not be able to e-file your state return.
a month ago
@Manilagal See this for installing the TurboTax software using the license code - https://ttlc.intuit.com/turbotax-support/en-us/help-article/license-information/install-turbotax-cd-download-software...
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@Manilagal See this for installing the TurboTax software using the license code - https://ttlc.intuit.com/turbotax-support/en-us/help-article/license-information/install-turbotax-cd-download-software-license-code/L1wFOSXur_US_en_US
a month ago
You may have entered the sale of the house in the wrong section. It should be entered in the Wages and Income section, then Less Common Income, then Sale of Home (gain or loss.) I think you may have ...
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You may have entered the sale of the house in the wrong section. It should be entered in the Wages and Income section, then Less Common Income, then Sale of Home (gain or loss.) I think you may have entered it in the Investment Income section.
a month ago
You can follow the instructions in this TurboTax Help article to enter your tips on your tax return.
The tips deduction is reported on line 13 of Schedule 1-A. Then the total deductions on line...
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You can follow the instructions in this TurboTax Help article to enter your tips on your tax return.
The tips deduction is reported on line 13 of Schedule 1-A. Then the total deductions on line 38 of Schedule 1-A is transferred to line 13b of your form 1040.
a month ago
California trust tax forms (FTB Form 541) are often delayed in tax software, showing as "not finalized" or "pending" early in the season. If e-filing fails, trustees may need to file by mail. Key dea...
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California trust tax forms (FTB Form 541) are often delayed in tax software, showing as "not finalized" or "pending" early in the season. If e-filing fails, trustees may need to file by mail. Key deadlines can be met by filing an extension (FTB 3563) to avoid late penalties if a payment is needed. Yes you can choose not to efile CA and file Fed only, then file the CA by mail unless you want to wait till 541 is finalized to efile.
a month ago
Do not click anything that says amend. Click on Add a State---you do not really have to add a state return but that trick will let you back in to the return to make changes to it before you file.
a month ago
Error F7004-011-03 indicates the IRS rejected a Form 7004 extension because one was already accepted for the same Employer Identification Number (EIN) and tax period. To correct it, confirm if you or...
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Error F7004-011-03 indicates the IRS rejected a Form 7004 extension because one was already accepted for the same Employer Identification Number (EIN) and tax period. To correct it, confirm if you or your accountant already filed an extension, as it is likely a duplicate filing. If already filed, no action is needed.
a month ago
So I start with the Amendment and enter everything from there?
a month ago
See this when your spouse is a nonresident alien - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-credits-deductions/file-taxes-spouse-nonresident-alien/L4AuRKrMd_US_en_US
a month ago
Try doing the amended return over. Go to Forms mode and delete the 1040X. Then go back to the step by step interview mode and delete the new 1099INT and put your return back to the way it was...
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Try doing the amended return over. Go to Forms mode and delete the 1040X. Then go back to the step by step interview mode and delete the new 1099INT and put your return back to the way it was originally filed. Be s ure to check it matches the filed return. Then start the amended return again. Don't enter the 1099 until after you amend. It sounds like you entered the new 1099 before you started amending the first time.