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a month ago
My spouse and I are filing MFS this year. On the 1098 Mortgage Interest, our Mortgage interest in Box 1 is $10,246 which we are splitting 50/50 on each of our taxes (as $5,123 each) because we're fi...
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My spouse and I are filing MFS this year. On the 1098 Mortgage Interest, our Mortgage interest in Box 1 is $10,246 which we are splitting 50/50 on each of our taxes (as $5,123 each) because we're filing MFS and we pay our mortgage from a joint account. Turbotax is saying my interest is being limited. Box 1: $10,246 mortgage interest Box 2: $380,000 outstanding mortgage principle Whats going on here? Is this a red flag for an audit? I did everything as instructed, don't own a second home, or sold a home. Dont even know what 'limited' means. Thank you
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a month ago
Hi @Dman , I see this same problem in 2026: TT Business for MA state tax does not recognize that income was distributed to the beneficiary. As a result the trust has a state tax bill, and the 2K-1 i...
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Hi @Dman , I see this same problem in 2026: TT Business for MA state tax does not recognize that income was distributed to the beneficiary. As a result the trust has a state tax bill, and the 2K-1 is filled with zeros. I have to manually edit Schedule IDD (in Forms mode) to make lines 2, 7, 12, and 17 match their respective prior lines. Also, the "percentage of total income" has to be entered as 100, but later changed to 1.
a month ago
Should i put 1.00 in january and put 0 in box a and b and leave February blank?
a month ago
Yes, you must report the interest you made in 2025. U.S. taxpayers are taxed on worldwide income, even if the interest is compounding and not paid out. If the foreign bank didn't issue a statement or...
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Yes, you must report the interest you made in 2025. U.S. taxpayers are taxed on worldwide income, even if the interest is compounding and not paid out. If the foreign bank didn't issue a statement or tax form, you are still required to report the interest that accrued from April–December 2025 as foreign interest income.
Depending on the account balance, you may also have FBAR (FinCEN 114) and Form 8938 filing requirements.
Because your 2025 return is already filed, you would file an amendment to add the missed interest.
Amend TurboTax Online
Amend TurboTax CD/Download
a month ago
Okay but my January and February are empty because i didn't have anything for those months. So i start off in march. But when i try to put 1.00 in my column c it won't allow me to just do that do u h...
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Okay but my January and February are empty because i didn't have anything for those months. So i start off in march. But when i try to put 1.00 in my column c it won't allow me to just do that do u happen to know what to do then?
a month ago
You can clear your return and start over as long as you haven't:
Submitted payment
Deducted the TurboTax fee from your refund or
Registered your product.
If you've done any of...
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You can clear your return and start over as long as you haven't:
Submitted payment
Deducted the TurboTax fee from your refund or
Registered your product.
If you've done any of these things, you'll need to manually edit your return. You can also downgrade your product without erasing all your info.
For more information see How do I clear and start over?
a month ago
If you input $1.00 in column C, for January only, that should solve it!
a month ago
The "reality" is that it is 5 Feb, and it is still not working online. As others have stated, this is unacceptable.
a month ago
1 Cheer
Unfortunately, it is unknown when a fair market value calculator will be available.
In the meantime, I suggest using these resources:
The Salvation Army Donation Value Guide
TurboTa...
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Unfortunately, it is unknown when a fair market value calculator will be available.
In the meantime, I suggest using these resources:
The Salvation Army Donation Value Guide
TurboTax Tax Tips Guide & Video: Charitable Contributions. There is a video within this guide about estimating the value of clothing donations.
IRS Publication 561: Determining the Value of Donated Property
a month ago
1 Cheer
With desktop you go up to your toolbar and click on File and then New Tax Return to start a new return. When it asks if you want to transfer a 2024 return into the new return--say no.
a month ago
The app should update to match the website, but you may need to fix your rejected return on the app so you can still file free if it does not. If you signed in/out on the app, it should sync with th...
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The app should update to match the website, but you may need to fix your rejected return on the app so you can still file free if it does not. If you signed in/out on the app, it should sync with the app, but you could try clearing your cache/cookies in the app,
@Johnrmclin
a month ago
According to the TurboTax Help Article How do I clear and start over?
To erase your return and start over:
TurboTax Online
Select Tax Tools from the left menu, then Tools.
Select...
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According to the TurboTax Help Article How do I clear and start over?
To erase your return and start over:
TurboTax Online
Select Tax Tools from the left menu, then Tools.
Select Clear & Start Over.
Select Yes to confirm.
You can also access it from Switch Products in the left menu.
TurboTax Mobile App
From the home screen, select More from the bottom menu.
Select Clear and Start Over.
Select I want to clear my tax data to confirm.
Note - You can also downgrade your product without erasing all your info.
a month ago
The panel was made by Eaton/ Cutler Hammer. I have had direct contact with Eaton and the comment is they are working on it. Note also that if you try for a QMID for other panel manufactures like GE, ...
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The panel was made by Eaton/ Cutler Hammer. I have had direct contact with Eaton and the comment is they are working on it. Note also that if you try for a QMID for other panel manufactures like GE, Siemens, Square D. They all dropped the ball. The real problem with TurboTax, outside of the enabling section was that I had to run through the IRS form and manually input things in a number of places, some of which were a kluge, in order to even get the heat pump (which had a QMID) to provide a credit.
a month ago
1 Cheer
Dawn, I wish it worked that way. If you X out of the "Assistant," it takes you out of Search on the desktop. I found the SEP-IRA worksheet on my own, by nosing around, but please tell somebo...
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Dawn, I wish it worked that way. If you X out of the "Assistant," it takes you out of Search on the desktop. I found the SEP-IRA worksheet on my own, by nosing around, but please tell somebody: The "Assistant" is terrible and a search function needs to be added back to the desktop.
a month ago
1 Cheer
@p4quilts So sorry----but you cannot move any of that information into a new 2025 return. You will need to start over.
a month ago
How do I start a new account? I'm using the desktop (Windows) version.
a month ago
To list your donations, go to Deductions and Credits, and select Donations to Charity. There you can list your donations by item.
To select whether you want to itemize or take the standard ded...
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To list your donations, go to Deductions and Credits, and select Donations to Charity. There you can list your donations by item.
To select whether you want to itemize or take the standard deduction, go to Deductions and Credits, and click Continue (or Finish this later) and go through the questions until you get to the screen that shows you your total Itemized deductions vs. the Standard deduction and that's where you can manually select what deduction method you want to use on your tax return.
a month ago
I am going through this same problem with no solution! Not sure what to do now!
a month ago
Well, I guess I can start a new account. But I've just spent hours putting this year's data into the old account. Do I need to do it all over again, or can export/import some of it over or something?
a month ago
1 Cheer
Thank you SteamTrain...your fix worked perfectly! Very much appreciated as it seems quite difficult to get phone support...you are a lifesaver! FYI: I am using a MacBook Air laptop w TurboTax (...
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Thank you SteamTrain...your fix worked perfectly! Very much appreciated as it seems quite difficult to get phone support...you are a lifesaver! FYI: I am using a MacBook Air laptop w TurboTax (TT) Premier I did have an earlier crash when opening TT...unclear why...may somehow have corrupted the SS Benefits Worksheet??