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April 1, 2025
4:30 PM
It looks like you have one more step to take with MD. Verify with the business office listed. MD Tax ID Number states:... step in the necessary filings process is to file a “Combined Central Registra...
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It looks like you have one more step to take with MD. Verify with the business office listed. MD Tax ID Number states:... step in the necessary filings process is to file a “Combined Central Registration” with the Maryland Comptroller’s Office. This form from the Comptroller’s Office will ask the filer to list both the FEIN number and this Department’s internal entity filing number. This Central Registration Form of the Comptroller’s Office deals with Maryland taxes owed, including employee withholding taxes. Comptroller of the Treasury's website: http://taxes.marylandtaxes.com/Business_Taxes/New_Businesses/
April 1, 2025
4:29 PM
I’m having this issue…any luck getting it resolved I could sure use some help
April 1, 2025
4:29 PM
Your total basis in traditional IRA's for 2024 and earlier years may be found on IRS form 8606 Nondeductible IRAs Part I line 14.
Is this the dollar value that you are asking about?
See...
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Your total basis in traditional IRA's for 2024 and earlier years may be found on IRS form 8606 Nondeductible IRAs Part I line 14.
Is this the dollar value that you are asking about?
See also this TurboTax Help.
April 1, 2025
4:29 PM
Hello, No there are no values (other than my name etc. at the top) on the first page. But still it should be included when I print, especially if I have to send it mailed to the IRS, right? ...
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Hello, No there are no values (other than my name etc. at the top) on the first page. But still it should be included when I print, especially if I have to send it mailed to the IRS, right? Thanks,
April 1, 2025
4:29 PM
I was told how much I would received when I quit several years ago...nothing mentioned about RMD and nothing has changed except COLA increases
Topics:
April 1, 2025
4:28 PM
Job related expenses are no longer deductible for W-2 employees. The Tax Cuts and Jobs Act of 2018 suspended the deductions for most workers from 2018 to 2025. Certain workers can file Form 2106 to c...
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Job related expenses are no longer deductible for W-2 employees. The Tax Cuts and Jobs Act of 2018 suspended the deductions for most workers from 2018 to 2025. Certain workers can file Form 2106 to calculate deductible unreimbursed expenses. Review the TurboTax article Are Unreimbursed Employee Expenses Deductible? for more information.
If you are a worker who meets the exception or your state allows you to deduct unreimbursed employee business expenses, review the TurboTax article Where do I enter job-related employee expenses? (Form 2106) for navigation instructions.
April 1, 2025
4:28 PM
1 Cheer
Try going to IRA contributions under Federal On left Deductions and Credits Then scroll down to Retirement and Investments Traditional and ROTH IRA Contributions - Click the Start or Update button
April 1, 2025
4:28 PM
Thanks, that worked! The software did keep asking for the correction, but I was able to still e-file. Will wait to see whether it is accepted now.
April 1, 2025
4:27 PM
Hello!
Can you please help me with that moment?
@DianeW777 mentioned that TurboTax may allow filling one state as an e-file in my case. As I understand, I need to file MFJ Federal and MFS N...
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Hello!
Can you please help me with that moment?
@DianeW777 mentioned that TurboTax may allow filling one state as an e-file in my case. As I understand, I need to file MFJ Federal and MFS NC. But I don't see how it is possible simultaneously because TurboTax keeps me as MFJ in that NC return.
If I follow that guide - Link to TurboTax Page - it is said that I can file MFS state returns only via mail.
So I am a bit confused.
Would appreciate any help with that
Thank you in advance
April 1, 2025
4:27 PM
Thank you for this. The reason I hesitated was bc part III of my K-1 letter is blank. Technically, this is a page attached to the K-1, named "form 1041" . Although it doesn't have the dividends and ...
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Thank you for this. The reason I hesitated was bc part III of my K-1 letter is blank. Technically, this is a page attached to the K-1, named "form 1041" . Although it doesn't have the dividends and qualified dividends in boxes labeled 2a and 2b, I did input them in those boxes on the K-1 in Turbotax. The other reason for my hesitation was when I called Turbotax and spoke with the rep (not tax advisor), she told me to input info from a 1041, I would have to upgrade from Deluxe to Turbotax Business, and oh BTW, since you have a Mac, you can't upgrade, ugh. Does it really matter? I hope not bc I just filed! I sincerely appreciate your response to my question. Thank You!
April 1, 2025
4:27 PM
To go back to Form 1310:
Open the return
Go to the Personal Profile section
Edit the name in your Info
Continue to the Let's check for some other situations screen
Select I am p...
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To go back to Form 1310:
Open the return
Go to the Personal Profile section
Edit the name in your Info
Continue to the Let's check for some other situations screen
Select I am preparing this return for [name], who has passed away
Provide the date passed away
Then go to Form 1310
On the Complete a claim for refund screen, select Yes
Continue through the screens. We'll give you the option of paper-filing the form by itself or including it with the decedent's return when filed
Can I file Form 1310 in TurboTax?
April 1, 2025
4:27 PM
You have to ask yourself, "is it likely that I will have HDHP coverage in the near future?" Because every year that you do not do anything about the carryover, you will be dinged 6% of the lessor of ...
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You have to ask yourself, "is it likely that I will have HDHP coverage in the near future?" Because every year that you do not do anything about the carryover, you will be dinged 6% of the lessor of the carryover amount OR the value in your HSA at the end of the year.
As you can see, it is 6% of the carryover amount or 6% of what is left in your HSA (which, if the HSA goes to zero, the penalty will go to zero).
If you have a lot of money in the HSA and want to stop the 6% per year bleed, then to stop the carryover for good, you do the following.
1. Take a distribution of the excess (i.e., call the HSA custodian and ask for them to send you some money).
2. When you get the 1099-SA, enter it into TurboTax and say that it is NOT for medical expenses.
3. This will add the excess to Other Income, and you will be penalized 20% in addition BUT at least the carryover will be gone.
So, as you can see this stop the carryover process is expensive, so you need to count on your fingers to decide which path is best for you.
@John hates taxes
April 1, 2025
4:27 PM
In your Federal return, check your entry for the document that reported the State Tax paid, to verify that you included the state tax amount.
Or, if this was Estimated State Tax you paid, go t...
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In your Federal return, check your entry for the document that reported the State Tax paid, to verify that you included the state tax amount.
Or, if this was Estimated State Tax you paid, go to Deductions & Credits > Estimates and Other Taxes Paid > Estimates.
If this was not Estimated Tax you paid, but State Tax also not on a W-2 or 1099 form, choose 'Other Income Taxes' in the same section.
This will then flow into your state return correctly.
@vancy
April 1, 2025
4:25 PM
If you made a typo, go back an edit the tax form with the withholding on it. Search for the form and use the jump to link to be taken to the summary screen. You can edit the form by clicking on Ed...
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If you made a typo, go back an edit the tax form with the withholding on it. Search for the form and use the jump to link to be taken to the summary screen. You can edit the form by clicking on Edit or the pencil icon.
What tax form are you needing to correct? Do I have to file tax returns in more than one state?
April 1, 2025
4:25 PM
It is not entered on a US Form 1040.
It is not entered into TurboTax.
It is reported on a Form 1040 Guam Individual Income tax Return
April 1, 2025
4:25 PM
I do mean that I do not want the CR, and want to complete the return without it. When I fill out the MO return currently, the step-by-step prompts for the CR (but not NRI) and forces me to complete t...
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I do mean that I do not want the CR, and want to complete the return without it. When I fill out the MO return currently, the step-by-step prompts for the CR (but not NRI) and forces me to complete the form before verifying the return even if I delete it. I could be wrong, but I don't think it makes sense for the spouse who lived in MO the whole year (with no out of state income, and cannot claim a credit) to fill out the CR, and it also asks for both individuals' incomes. There's a flowsheet on which form to fill out on the MO websites, and if we follow that diagram it says to fill out one or the other. The CR gives worse outcome on return than NRI and so I'm trying to do the latter. Thanks for your response!
April 1, 2025
4:25 PM
This is working correctly for me now as of April 1, 2025. Thanks for the fix!
April 1, 2025
4:24 PM
You would say you purchased it, as you had pay for the shares.
April 1, 2025
4:23 PM
There are four accounts: Employer Traditional IRA (Rollover from 401k) Employer Roth IRA (Rollover from 401k) Personal Traditional IRA Personal Roth IRA -----------------------------------------...
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There are four accounts: Employer Traditional IRA (Rollover from 401k) Employer Roth IRA (Rollover from 401k) Personal Traditional IRA Personal Roth IRA ------------------------------------------------------------------------------------ So here is what I did: Tax Year 2023: Contributed $6500 to my Personal Roth and realized it needed to be a backdoor contribution. So I recharacterized it as a traditional contribution in 2024, to my Personal Traditional IRA, and then converted it to my Personal Roth ($7005.53 was converted amount of contribution plus earnings). Tax Year 2024: Contributed $7000 to my Personal Roth ($3054.03 direct to the Personal Roth and $3948.82 via backdoor through my Personal Traditional IRA) and realized it was ALL excess contributions as I had no earned income for the year. I had all $7000 in contributions and earnings returned by my brokerage company to my non-retirement account in early 2025. I also converted $31,159.85 from my Employer's Traditional IRA (from my 401k originally) to my Employer Roth IRA for 2024. This amount should be taxable as income. -------------------------------------------------------------------------- I have three 1099-R's for listed for tax year 2024: Employer Traditional IRA: $31,159.85 all taxable (box 7 is 2) Personal Traditional IRA: $10,954.41 all taxable (box 7 is 2) Personal Roth IRA: $7,005.53 none taxable (box 7 is R) --------------------------------------------------------------------------- So what I'm expecting is $31,159.85 in taxable distributions. However, TurboTax is telling me I have $42,114 in Traditional and Roth distributions (which is $31,159.85 + $10,954.41) of which it says $36,022 is taxable. I have no idea how it calculated $36,022 and it should be $31,159.85 right? How do I tell TurboTax that the $10,954.41 in Personal Traditional IRA distributions are non-taxable backdoor conversions? I already inputted that I returned the excess contributions for 2024 into TurboTax ($3054.03 direct to the Personal Roth and $3948.82 via backdoor through my Personal Traditional IRA).