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a month ago
Can you print just the Statement A in Forms Mode? In other words, bring up Statement A and then click the print button?
a month ago
Unemployment compensation is taxable on your federal return.
You will have to enter a 1099G that is issued by your state.
Some states will mail out the 1099G. Or you might need to go to your st...
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Unemployment compensation is taxable on your federal return.
You will have to enter a 1099G that is issued by your state.
Some states will mail out the 1099G. Or you might need to go to your state’s unemployment website and use the password, etc. that you have been using to certify for weekly benefits to get your 1099G from the state’s site.
Enter your 1099G in Federal>Wages & Income>Unemployment
Go through the screens very carefully, making sure to enter any federal/state tax you had withheld from the unemployment.
a month ago
1 Cheer
Responding to my own recent post. I have the Mac TurboTax desktop version. After talking directly to a TurboTax representative I got clarification. (Not to say the software isn't very confusing and m...
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Responding to my own recent post. I have the Mac TurboTax desktop version. After talking directly to a TurboTax representative I got clarification. (Not to say the software isn't very confusing and misleading.) If one pays the State eFiling fee by credit card, there is no Maximum Refund Guarantee fee. I went through the process with the Rep on the phone (to make sure). I only paid $15 for State filing. ($10 Costco credit applied to the normal $25 fee). I filed my taxes successfully. However, I was told if you have TurboTax take the State filing fee out of the Federal refund, they do charge $15. I obviously could not verify that.
a month ago
Please follow the instructions in this TurboTax Help article to enter your form 1099-G in TurboTax.
a month ago
Once your return is filed, TurboTax has no control over the processing or the timing when the IRS/States releases your refund.
Here are a few FAQs to help you track your refund: When will I g...
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Once your return is filed, TurboTax has no control over the processing or the timing when the IRS/States releases your refund.
Here are a few FAQs to help you track your refund: When will I get my federal tax refund? How do I track my state refund? Why does Where's My Refund say "approved" but TurboTax still says "accepted"?
Why do some refunds take longer than others?
What if my IRS refund is taking longer than 21 days?
a month ago
The “senior deduction” is added automatically by the software based on the date of birth and filing status you entered into MY INFO. You do not need to take any extra steps to enter it. (And…the new...
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The “senior deduction” is added automatically by the software based on the date of birth and filing status you entered into MY INFO. You do not need to take any extra steps to enter it. (And…the new senior deduction has nothing to do with whether you are getting Social Security)
The deduction is not on the same line as your standard deduction. It is shown separately on line 13b.
2025 STANDARD DEDUCTION AMOUNTS
SINGLE $15,750 (65 or older/legally blind + $2000)
MARRIED FILING SEPARATELY $15,750 (65 or older/legally blind +1600)
MARRIED FILING JOINTLY $31,500 (65 or older/legally blind + $1600)
HEAD OF HOUSEHOLD $23,625 (65 or older/legally blind + $2000)
For 2025 through 2028 there is an extra deduction amount of up to $6000 per individual 65 or older filing Single, MFJ, or HOH which is phased out for taxpayers with modified adjusted gross income over $75,000 for single filers and $150,000 for joint filers.
(The deduction phases out completely at $175.000 Single or HOH, or $250,000 joint)
The $6,000 senior deduction will be calculated on 1040 Schedule 1-A page 2 Part V Enhanced Deduction for Seniors which goes to 1040 line 13b. It is separate and in addition to the Standard Deduction or your Itemized Deductions on 1040 line 12e. Turbo Tax automatically includes it.
IRS Schedule 1-A https://www.irs.gov/pub/irs-dft/f1040s1a--dft.pdf
Need to see it?
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/preview-turbotax-online-return-filing/L77WCkvnu_US_en_US?uid=m681fkhr
If you are not getting the senior deduction it is because
Your date of birth in MY INFO shows that you were not 65 by the end of 2025
Your income is too high
You are filing married filing separately
a month ago
We are filing jointly and receiving the 31,500 standard deduction plus an additional 1,600 for seniors but we should also be receiving the 6,000 senior deduction from the one big beautiful bill deduct...
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We are filing jointly and receiving the 31,500 standard deduction plus an additional 1,600 for seniors but we should also be receiving the 6,000 senior deduction from the one big beautiful bill deduction?
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a month ago
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a month ago
The $6000 deduction is not listed in the deductions and credits or anywhere else in my Turbotax online account for 2025 tax season. You said I could go to print center to view my return and check for...
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The $6000 deduction is not listed in the deductions and credits or anywhere else in my Turbotax online account for 2025 tax season. You said I could go to print center to view my return and check for Schedule 1-A. I opened print center, but I cannot review my actual return without paying the filing fee first. I can only print previous years.
a month ago
Can I redact account numbers on financial statements mailed to the IRS using Form 8453 to support my tax return that was e-filed
a month ago
1 Cheer
You have allocated your New York Part Year Resident wages correctly. Keep documentation for your records on how you arrived at days worked in NY. However, you will generally need to divide your une...
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You have allocated your New York Part Year Resident wages correctly. Keep documentation for your records on how you arrived at days worked in NY. However, you will generally need to divide your unearned income by the % of time you lived in each state. Items like interest and dividends are considered to be earned throughout the year if the account remains open, so this would need to be allocated between the two states.
A stock sale occurring after leaving the state can be allocated to the state you lived in when the sale occurred.
If you were contributing to an IRA all year, and had an excess contribution, which was withdrawn, you can report the earnings income on the state return you lived in when the distribution occurred, as you mention.
Illinois taxes income received after you became a resident. In the case of interest income earned all year, allocate a % based based on time lived there.
Here's more info on Allocating Income for a Part-Year Resident and IRA Allocations.
@jackkgan
a month ago
On the screen that says Traditional IRA's, you need to enter the contribution in both boxes, not just the the second one that is for contributions in 2026.
a month ago
Token number 1341346 I am not sure what to put in the columns. Got married and wife moved in with me in NJ 8/27. She works as a teacher in NYC. Could really use the help! Thank You
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a month ago
I have profit from business past 8 years, this year none, can I deduct expenses? Turbo tax online will not let be do that.
a month ago
The dropdown only allows for taxpayer, spouse or other. The help (?) indicates Joint should be an option
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a month ago
If you created the wrong tax year W-2s, you must correct them immediately to avoid penalties. The process involves filing Form W-2c (Corrected Wage and Tax Statement) and Form W-3c (Transmittal of Co...
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If you created the wrong tax year W-2s, you must correct them immediately to avoid penalties. The process involves filing Form W-2c (Corrected Wage and Tax Statement) and Form W-3c (Transmittal of Corrected Wage and Tax Statement) with the Social Security Administration (SSA) and providing corrected copies to employees. The .pdf copies are linked below and the mailing address is on Form W-3c.
W-2c Forms
W-3c Form
General Instructions
You can try using Quick Employer Forms (QEFs) using the link below and checking the appropriate tax year.
What is QEFs?
@elegantrep
a month ago
2 Cheers
It is possible with a few extra steps - you don't need to spend extra on crypto tax software. Of course, you may still want to use the software for calculations, unless you have only a small amount o...
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It is possible with a few extra steps - you don't need to spend extra on crypto tax software. Of course, you may still want to use the software for calculations, unless you have only a small amount of transactions. Step 1 - create crypto CSV Create a CSV or spreadsheet with the following column headers. The exact column names and order are important: Name of digital asset - this will be the symbol, e.g. BTC, ETH Received date - date you purchased the asset Cost or other basis - how much you originally paid for it in USD Date sold - the date you sold the asset Proceeds - how much you received after selling in USD Number of units - how many units of that asset you sold Applicable checkbox on Form 8949 - look on your 1099-DA for this one-letter code. For 2025, it will either be short-term (H) or long-term (K). If these transactions are not reported on a 1099-DA, use I for short-term and L for long term. In the end, it should look something like this (e.g. sold 0.00055 BTC for $50.11 that was purchased in 2021 for $23.34): Step 2 - convert to PDF I was testing this on a Mac using Numbers, but the process should be similar in Excel or other spreadsheet software. Go to Print and make sure the option "Repeat table headers" (or similar) is checked. This will ensure it prints the column headers on every page of the PDF. If you don't do this and have more than one page, some of the import may get screwed up. Use the Print to PDF option in your software. Step 3 - upload into TurboTax online Go to Income > Investments and Savings Click on "Add investments" Click on "Enter a different way" Click on "Upload files from this device" Find and upload the PDF you created in the prior step Click "Continue" You should now see it show up, it will likely say "NEEDS REVIEW" Review any items marked needing review. Typically it does this if the cost basis is $0 or you used VARIOUS instead of the date on your CSV. You may need to fix these manually by selecting "Something other than a date" and then selecting "Various". NOTE: you do not need to pay for TurboTax online at this point if you already purchased TurboTax desktop. See below. If you do wish to use TurboTax online, you can stop here and finish filing taxes. Step 4 - import into TurboTax desktop (optional) If you wish to use TurboTax desktop instead, you can select "Continue From TurboTax Online" on the main screen. You can then import the data from TurboTax Online into the Desktop version. You can delete the data from the online version once you're done.
a month ago
Product: TurboTax Premier - Desktop
Version: 025.000.0279
Form 5329 Part IX shows an "Undistributed RMD" of $1.00. The distribution amount is $xx944.40 from the 1099-R. The Form 5329 shows an...
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Product: TurboTax Premier - Desktop
Version: 025.000.0279
Form 5329 Part IX shows an "Undistributed RMD" of $1.00. The distribution amount is $xx944.40 from the 1099-R. The Form 5329 shows and RMD amount $xx945.00. Appears to be a rounding error somewhere. If I change the Wage and Income section to show $xx945 for the 1099-R the problem goes away
a month ago
Every year this stumps me! Entering it is easy, it's the "gross income sourced at beneficiary level" section that gives me pause. I have a few post bookmarked that refresh my memory and I figure it...
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Every year this stumps me! Entering it is easy, it's the "gross income sourced at beneficiary level" section that gives me pause. I have a few post bookmarked that refresh my memory and I figure it out. This year my K-1 has a few additional boxes so I just want to make sure I'm entering it correctly. The K-1 is a Trust form 1041 2a ordinary div $11,976 2b qualified div $10,159 12 Alternative Min Tax Adjustment Code A & J both $1646 14 Code A tax exempt interest $7822 Code B foreign taxes $407 Code I* STMT = section 199A reit div $67 So for gross income sourced at beneficiary level I add 2a ordinary div, 14a tax exempt interest, and 14i reit div for a total of $19,865? gross income sourced at beneficiary level Foreign Source $5350 gross income sourced at beneficiary level US source is the difference at $14515? Next screen I select Passive Next screen "deductions allocated and apportioned at beneficiary level". I have the following on my K-1, do I list those on this screen? State Income Taxes $1,333 Fiduciary Fees $4,179 Atty, Acct, and Return Preparer Fees $350 Total Deductions $5,862 Rest of the screens blank exempt for 199A reit div question?
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