All Posts
Wednesday
It is automatic based on your age. It is not part of your Standard Deduction. The new Senior Deduction is separate and in addition to the Standard Deduction or your Itemized Deductions on 1040 line 1...
See more...
It is automatic based on your age. It is not part of your Standard Deduction. The new Senior Deduction is separate and in addition to the Standard Deduction or your Itemized Deductions on 1040 line 12e. The 6,000/12,000 senior deduction will be calculated on 1040 Schedule 1-A page 2 Part V Enhanced Deduction for Seniors which goes to 1040 line 13b with any other sch 1-A amounts. Turbo Tax automatically includes it if you qualify. If you are married you have to file a Joint return.
For Online version you can preview the 1040
https://ttlc.intuit.com/community/accessing/help/how-do-i-preview-my-turbotax-online-return-before-f... See the 1040…….
Wednesday
The $6,000 Enhanced Deduction for Seniors is reported on IRS Schedule 1-A Part V lines 31 through 37.
The additional deduction is automatically included in your tax return when you complete th...
See more...
The $6,000 Enhanced Deduction for Seniors is reported on IRS Schedule 1-A Part V lines 31 through 37.
The additional deduction is automatically included in your tax return when you complete the personal information section of TurboTax and enter your date of birth and filing status.
The total of IRS Schedule 1-A may be found on line 13b of the IRS form 1040.
In TurboTax Online, you may view the IRS form 1040 by selecting Tax Tools, then Tools, then View Tax Summary down the left side of the screen.
You may also print or view your full tax returns prior to filing after you have paid for the software.
View the entries down the left side of the screen at Tax Tools.
Select Print Center.
Select Print, save or preview this year's return.
In TurboTax Desktop, select FORMS in the upper right hand corner of the screen.
Wednesday
If you are not sure what it is reporting, use "Other".
We cannot give you a definitive answer here since the codes in Box 14 are not yet standardized.
You should check with your employer or Payr...
See more...
If you are not sure what it is reporting, use "Other".
We cannot give you a definitive answer here since the codes in Box 14 are not yet standardized.
You should check with your employer or Payroll department.
Wednesday
We'd love to help you, but need more information. Can you clarify if you have a license code or not? If you are missing the code, you will need to have it to activate and install the software.
...
See more...
We'd love to help you, but need more information. Can you clarify if you have a license code or not? If you are missing the code, you will need to have it to activate and install the software.
If you do have the code and are still running into an error, check out the article below on how to install.
How to Activate the Desktop program
Wednesday
EDUCATION EXPENSES
Education expenses for grades K-12 are not deductible on your Federal return, whether for private, public, or home schooling, nor are the expenses for tutoring, after school less...
See more...
EDUCATION EXPENSES
Education expenses for grades K-12 are not deductible on your Federal return, whether for private, public, or home schooling, nor are the expenses for tutoring, after school lessons or after school activities, such as dance lessons, sports, etc. Some states allow deductions/credits for K-12 education and/or home schooling expenses; if your state has these deductions available, you will be prompted to enter them when you prepare your state return. (As far as I know, the states that offer any sort of K-12 deductions/credits are Arizona, Illinois, Indiana, Iowa, Louisiana, Minnesota, North Carolina, Ohio, and Wisconsin)
Wednesday
I would like a service code for free filing
Wednesday
Topics:
Wednesday
new 6000.00 deduction for 65 and over
Topics:
Wednesday
If you owe the IRS money then they will seize all of your refunds until the amount that you owe has been paid off.
In this case it sounds like you needed to amend a tax return so that you could...
See more...
If you owe the IRS money then they will seize all of your refunds until the amount that you owe has been paid off.
In this case it sounds like you needed to amend a tax return so that you could enter the amount that you won gambling and not owe but that you waited too long? Either way you may want to consider hiring a tax professional to review your situation and then communicate with the IRS on your behalf.
Alternatively you can reach out to the taxpayer advocate's office to get help with your situation. Here is how to contact the Taxpayer Advocate Service.
Wednesday
Line 14 Smart Worksheet Line F..... Turbo Tax indicates it is an error that has to be corrected if I do not enter an amount greater than Line G. What amount should it be? Every amount I enter adds...
See more...
Line 14 Smart Worksheet Line F..... Turbo Tax indicates it is an error that has to be corrected if I do not enter an amount greater than Line G. What amount should it be? Every amount I enter adds line F and G together on the IRS schedule, Line 14A, which is an error. HELP!
Wednesday
I'm trying to file my CA state return and TT just keeps going in circles back to the same screen. It says I have money coming from CA but won't let me actually file
Topics:
Wednesday
You may need to choose a correct response on your Pennsylvania return on the screen that says What kind of retirement income do you have from Pennsylvania? IRA distributions are not taxable in Pennsy...
See more...
You may need to choose a correct response on your Pennsylvania return on the screen that says What kind of retirement income do you have from Pennsylvania? IRA distributions are not taxable in Pennsylvania if you are over 59 1/2. If they were shown as taxable on your state return, it is possible the state will correct your return when they process it. Otherwise, you will see an option when you log into TurboTax in the coming days to prepare an amended return to correct it.
Wednesday
I just attempted to import the Vanguard 1099 information. I input the account and document number, and the program told me the import was successful--but no actual dollar information shows up in my ...
See more...
I just attempted to import the Vanguard 1099 information. I input the account and document number, and the program told me the import was successful--but no actual dollar information shows up in my tax return file, and Vanguard 1099s are not in the list of imported documents. I tried again and it said it was successful again, but there is still nothing there. I will wait a few days and try again.
Wednesday
It might be Tips or Overtime,
Do you usually work overtime?
If you are unsure, ask your employer or payroll.
There are no set codes for Box 14 this year, so we cannot give you a definitive a...
See more...
It might be Tips or Overtime,
Do you usually work overtime?
If you are unsure, ask your employer or payroll.
There are no set codes for Box 14 this year, so we cannot give you a definitive answer.
Wednesday
Still won’t work in the California information worksheet
Topics:
Wednesday
@KrisD15 This does not work as it requires a negative number. Max value is 0 there has been no solution given that has worked. I am still having the same issues
Wednesday
@Mike9241 The same thing the original poster is trying to do. Trying to get the Second Lowest Cost Silver Plan price to put in column B. Some of us pay full price, and collect our tax credit upon fi...
See more...
@Mike9241 The same thing the original poster is trying to do. Trying to get the Second Lowest Cost Silver Plan price to put in column B. Some of us pay full price, and collect our tax credit upon filing. (I am a retiree but not 65, so by getting the credits, I don't have to pay estimated taxes throughout the year on dividend income). We need the output of this tax tool to fill in column B, which is blank, on the Form 1095-A
Wednesday
Same issue as before. I7Q6 is not being accepted. Spoke with a TurboTax expert as I am a premium member and was advised that the issue is with Daiken and they are routing it up to product support.
Wednesday
If you are being prompted to make an RMD entry, it may mean that you are required to take a distribution due to your age.
Required Minimum Distributions (RMDs) are mandatory withdrawals from re...
See more...
If you are being prompted to make an RMD entry, it may mean that you are required to take a distribution due to your age.
Required Minimum Distributions (RMDs) are mandatory withdrawals from retirement accounts starting at the age of 73.
If you are now at the age, but did not take the distribution, here are a few things to know:
You must immediately take the distribution to minimize penalties, which are 25% of the shortfall, or 10% if corrected within two years
The first RMD must be taken by April 1 of the year following the year you reach age 73
Subsequent RMDs are required by Dec 31 annually
When in TurboTax and you see, "Let's get more information about your RMD", follow these steps:
If you do not know what your RMD is, contact your financial advisor to assist you
Don't enter an amount if this is your first year and you will be taking the distribution by April 1, enter "0" instead
If this is not your first year and the software informs you of a penalty, you may request a waiver by completing Form 5329.
TurboTax will automatically generate a Form 5329 when it determines you owe penalties.
Click the following links for more information, What are required minimum distributions (RMD)? and What is Form 5329?
Wednesday
The $6,000 Enhanced Deduction for Seniors is reported on IRS Schedule 1-A Part V lines 31 through 37. The deduction is added automatically based upon your age and filing status.
The total of I...
See more...
The $6,000 Enhanced Deduction for Seniors is reported on IRS Schedule 1-A Part V lines 31 through 37. The deduction is added automatically based upon your age and filing status.
The total of IRS Schedule 1-A may be found on line 13b of the IRS form 1040.
In TurboTax Online, you may print or view your full tax returns prior to filing after you have paid for the software.
View the entries down the left side of the screen at Tax Tools.
Select Print Center.
Select Print, save or preview this year's return.
@2bjames83