All Posts
April 8, 2025
10:34 AM
Here are a few solutions from other users:
I finally discovered what was going on with mine. When I originally installed Turbotax, it picked up my previous file from my Windows File backup loc...
See more...
Here are a few solutions from other users:
I finally discovered what was going on with mine. When I originally installed Turbotax, it picked up my previous file from my Windows File backup location, so it continued to save everything in that location, not the actual active file location. I just have to remember to check that next year.
https://ttlc.intuit.com/community/taxes/discussion/re-tax2023-file-disappeared/01/3315626#M1220196
https://ttlc.intuit.com/community/taxes/discussion/re-2023-tax-file-missing-after-extended-search-through-hard-drive/01/3632186#M1341337
April 8, 2025
10:34 AM
Here is my token number 1301613.
April 8, 2025
10:33 AM
If you're using TurboTax Online, clear your Cache and Cookies. Then in the left-side menu, go to Tax Tools > Tools and select View Tax Summary from the pop-up menu. Back at the left-side menu, choo...
See more...
If you're using TurboTax Online, clear your Cache and Cookies. Then in the left-side menu, go to Tax Tools > Tools and select View Tax Summary from the pop-up menu. Back at the left-side menu, choose Preview My 1040. You can scroll through your return to see if the Safe Harbor form is included.
If you're using TurboTax Desktop, try a Manual Update and then check your list of forms in FORMS mode again.
@sunshine39
April 8, 2025
10:33 AM
After rereading my question, I realized I had inadvertently removed the part about my question being related to payment to an illustrator for their services. I presume the answer is still the same, ...
See more...
After rereading my question, I realized I had inadvertently removed the part about my question being related to payment to an illustrator for their services. I presume the answer is still the same, however?
April 8, 2025
10:33 AM
I am puzzled. The IRS, in your transcript, seems to have applied the 60% limit on the total of your contributions, which is not the same method described in Pub 526.
Your transcript states "tot...
See more...
I am puzzled. The IRS, in your transcript, seems to have applied the 60% limit on the total of your contributions, which is not the same method described in Pub 526.
Your transcript states "total contributions per computer" equals $51,022. This is exactly 60% of the return's AGI of $85,037. But this is NOT how charitable contributions are limited.
In Pub 526, The calculations for limits is applied first to cash, then to non-cash, then to other categories (which don't apply here), then finally to carryovers.
TurboTax enters $2,435 for current year cash contributions on line 11, then $9,305 for current year non-cash contributions on line 12, then on line 13, it enters $48,587 as the limited cash carryovers. This number is calculated on "Charity Limit 2" which can be found in Forms mode on your return. It is the amount of the carryover which can be used in 2024, allowing for the current year cash contributions.
So, ($2,435 plus $48,587) times 60% equals $51,022.
THEN, the noncash contributions get to be added from line 12.
So the total deductible amount as limited, is $60,327, not the $51,022 that the IRS calculated.
Please tell me if you disagree.
April 8, 2025
10:33 AM
1 Cheer
What sort of error are you getting? What does it say and where is it appearing?
April 8, 2025
10:33 AM
Turbo tax is not asking me if I itemized or not. I have entered it under state and local tax refund and it still doesn't ask if I itemized or not. I'm also stuck in a loop where it says i have alread...
See more...
Turbo tax is not asking me if I itemized or not. I have entered it under state and local tax refund and it still doesn't ask if I itemized or not. I'm also stuck in a loop where it says i have already entered this info for this state yet again it doesn't show up on schedule 1.
April 8, 2025
10:33 AM
1 Cheer
Unfortunately, the deadline to correct a 2023 excess was April 15, 2024 (or in some cases, October 15, 2024). It is too late to use this procedure to remove the excess contribution.
For 2023, ...
See more...
Unfortunately, the deadline to correct a 2023 excess was April 15, 2024 (or in some cases, October 15, 2024). It is too late to use this procedure to remove the excess contribution.
For 2023, you need to report the excess contribution and pay a 6% penalty. Why was this not done on your 2023 return, what software did you use and how was this missed? (Are you sure you even have an excess contribution?)
For 2024, you file a normal return and report the excess carryover of the $1035 excess from 2023. What happens next depends on whether or not you were eligible to make contributions in 2024, and how much you contributed.
If you are not eligible to contribute in 2024, then you pay another 6% penalty on the excess that was carried forward.
If you were eligible to make contributions in 2024, you can "use up" the 2023 excess by applying it to your 2024 limit. For example, if you are covered by a single HDHP and are under age 55, your limit for 2024 would be $4150. That means you can contribute up to $3115, and the $1035 excess from 2023 will be considered a 2024 contribution and that will remove the excess (but it needs to be properly reported.
If you already contributed the full amount of $4150 for 2024, then you can remove $1035 of excess 2024 contributions before the April 15, 2025. (This is an important difference. You can remove 2024 contributions before April 15, 2025, if you made any. But you can't remove 2023 contributions because its too late.)
If you remove 2024 contributions before April 15, 2025 so that your excess from 2023 will be rolled into 2024, you also need to report any earnings (interest) that are attributed to the excess contribution (the bank will calculate the amount for you). This is reported as bank interest not reported on a 1099-INT in the Interest Income section. If you contributed by payroll deduction, the excess contribution is added back to your taxable income and this is done automatically by Turbotax.
For 2025, it depends on what you can do for 2024. We can talk about that after you tell us about your 2024 contributions.
Your 2023 return will show a 5329 for the penalty and an 8889 that calculates the excess.
Your 2024 return will have an 8889 that either calculates the new excess, or calculates the resolution of the excess, and a 5329 that either pays a new penalty or reconciles the excess and shows no further penalty owed.
April 8, 2025
10:32 AM
For some reason this year is the first time I am seeing the question about the Z in Box 20 of the K1. I did my 1065 and K1s but did not put the Z. My LLC is just my wife and me and we make less t...
See more...
For some reason this year is the first time I am seeing the question about the Z in Box 20 of the K1. I did my 1065 and K1s but did not put the Z. My LLC is just my wife and me and we make less than the 383K threshold, How can I figure out how to claim the QBI deduction?
Topics:
April 8, 2025
10:32 AM
April 8, 2025
10:32 AM
Yes, I am using TurboTax Online. I think the error is solved now. Deleted the 1099s. Cleared cache and cookies. Re-entered the 1099s. (The wizard for the inherited Roth IRA does not ask for t...
See more...
Yes, I am using TurboTax Online. I think the error is solved now. Deleted the 1099s. Cleared cache and cookies. Re-entered the 1099s. (The wizard for the inherited Roth IRA does not ask for the required RMD amount). Completed the 1099 entry. (skipped review return). Viewed 1040 and there was no penalty. Did review return, error found with RMDs - required RMD amount missing. This time, entered the required RMD for that specific distribution only (the inherited Roth-IRA) (Initially didn't recognize that the error checking/correction wizard was referring to only the inherited Roth IRA - both sources of distribution have same name - but clarified by looking at further details of the form which shows the distribution amount, which matched the inherited Roth IRA) Now on view return, no penalty Thanks again @DanaB27 p.s. good to know that it's possible to switch to Desktop from Online if need be
April 8, 2025
10:32 AM
I think when I tried to change my email during the final stages of the return I wasn’t able to finish
Topics:
April 8, 2025
10:31 AM
1 Cheer
Please call TurboTax Customer service. Here is a link: Turbo Tax Customer Service
April 8, 2025
10:31 AM
You need to click "Continue" after you entered all Form 1099-R to get to the 10% early withdrawal exception screen:
Click on “Jump to 1099-R” and enter your 1099-R
Click "Continue" after...
See more...
You need to click "Continue" after you entered all Form 1099-R to get to the 10% early withdrawal exception screen:
Click on “Jump to 1099-R” and enter your 1099-R
Click "Continue" after all 1099-R are entered and answer all the questions.
Continue until "Did you use your IRA to pay for any of these expenses?" screen and enter the amount of higher education expenses.
Note, if this was from a Roth IRA and you only withdrew contributions then your distribution isn't taxable and not subject to the 10% early withdrawal penalty. Then you will not get the "Did you use your IRA to pay for any of these expenses?" screen.
April 8, 2025
10:31 AM
Yes, even if you don’t receive the appropriate forms, you’re still responsible for paying taxes on all of your taxable income. If you didn't make more than $5,000, PayPal doesn't send you a form. If ...
See more...
Yes, even if you don’t receive the appropriate forms, you’re still responsible for paying taxes on all of your taxable income. If you didn't make more than $5,000, PayPal doesn't send you a form. If you didn’t receive a 1099 form, you still need to report the amount of income on your tax return.
Refer to the TurboTax article What is Form 1099-K? for more information and instructions to enter your income.
April 8, 2025
10:31 AM
You don't need to change the returns. Since you were married before the end of the year, and your spouse has lived in California since the latter part of the year, you can file a joint Nonresident re...
See more...
You don't need to change the returns. Since you were married before the end of the year, and your spouse has lived in California since the latter part of the year, you can file a joint Nonresident return for New York and joint Resident return for California.
New York has one form, Form IT-203, Nonresident and Part-Year Resident Income Tax Return, that covers taxpayers who were nonresidents either part or all of the year. See this New York webpage for more information.
April 8, 2025
10:31 AM
Thanks. So the funds were for Preschool. The Preschool charged a penalty for paying monthly. So if you made two lump sum payments, you dont have the penalty. Thats what we did. The 23-24 school y...
See more...
Thanks. So the funds were for Preschool. The Preschool charged a penalty for paying monthly. So if you made two lump sum payments, you dont have the penalty. Thats what we did. The 23-24 school year, one payment was made in July 2023 and another in December 2023. I was advised to put it on the 2023 returns since payments were made in 2023. The dependent care funds, via a FSA, had no choice but to take out evenly (26 payments) from July 1-2023, June 30 2024. Therefore, the 2024 return shows half of dependent funds (Jan 1-June 30 2024). Any advice as to what to do, moving forward? I did pay a total of $25 in 2024, due to fees. Thank you
April 8, 2025
10:31 AM
To look at this in detail and to report a possible product defect, we would like to see a diagnostic copy of your return. The information in this file is a sanitized copy meaning there is no personal...
See more...
To look at this in detail and to report a possible product defect, we would like to see a diagnostic copy of your return. The information in this file is a sanitized copy meaning there is no personal information, only numbers so that we can troubleshoot in depth, check for calculation issues, and to see how certain items are applied. Here is how to order.
For Turbo Tax online, go to tax tools>tools>share my file with agent. When this is selected, you will receive a token number. Respond back in this thread and tell us what that token number is.
If you use the desktop version, go to the black stripe at the top of the program, click on online, and then select send tax file to agent. Let us know what the token number is.
April 8, 2025
10:31 AM
Thank you. I did that and all the entries appear to be correct but it still keeps giving me an error. I suspect some kind of software glitch.
April 8, 2025
10:31 AM
You would have to deduct the cost in the year you incurred it.