All Posts

The program should allow you to continue to report the 1098-T on the dependent student's return. Did you select continue on the screen that says he is not eligible?  You should be able to continue through that section even when the program says you are not eligible.  You should be able to enter Form 1098-T    Are you able to view the "Your Education Expenses Summary" screen?" This screen lists the student Click EDIT for the student That should take you to the "Here's Your Education Summary" screen Select EDIT for the school to enter the 1098-T  or  Select Scholarships/Grants (for all schools) to only enter the taxable portion of the scholarships he needs to claim   You may need to continue through screens in the  Deductions & Credits Education   to find this   

That form does not get entered on your tax return.   ABLE account contributions are tax deductible in some states, but not on your federal return.   Are you filing a state amendment as well as a federal amendment?

"Attach documents to your Federal return as instructed on the front of the return"   Quick question. I have many receipts, lots of statements related to my home and rentals, and other misc docs. Do I attach all these docs to my federal return ? It's a lot. I also don't want to mail in the original docs. So if I make photocopy of them it's a lot of work too. Thoughts ?   Thanks.

Dear MonikaK1, You have answered this before but you fail to tell us what goes onto the line BEFORE that, namely: "Regulated Investment Company (RIC) Capital Gains Earned (in federal income)" If the capital gains distributions ARE included in Federal income, AND they ARE distributed the SAME YEAR, why does that line exist?  I do have some 2024 RICs which show capital gains distributions on my 1099.  Do I just enter those on that line?  When I try that experimentally, I see a bigger refund from the state of California. Seems good to me, but if I shouldn't do it, please let me know!  Thank you.  

After entering her 1099-R and SSA-1099 in TurboTax, scroll all the way down to Miscellaneous Income, 1099-A, 1099-C.  On the next page, scroll all the way down to Other Reportable Income.  Say yes to 'other taxable income' and on the next page, for Description enter 'Utah Medicaid Waiver Adjustment' and the Amount that she paid out to her long-term care facility as a negative number.   Since they take most of her funds, her return may show $0 tax due, since the Standard Deduction will be subtracted from any amount of income remaining.  Keep program qualifying info for the Medicaid Waiver as documentation, along with a statement of her expenses from the facility with her tax documents.      If that applies, she would not be required to file a return at all, but you could file just for reporting.  Here's info on Filing Requirements.  Utah follows the same as Federal.   @nadude       

In the online version, I am trying to use my email address to create a second account and it says, “That email address is already in use” (or something to that effect).  It won’t allow me to create a new account for a second return.  Please help!  

As Maya noted, form 3514 calculates the Earned Income Credit, a tax credit for low income individuals that is similar (in concept at least) to the federal Earned income Tax Credit.   You apparently have a Schedule C on your federal return. This question about a Business Code is related to knowing more about your business by the State of California.   Perhaps it will help you to understand what the state is looking for by reading the Booklet for the 3514.

After you enter the K-1 reporting the box 1 income, choose the option to enter another K-1. On the second K-1 only enter the income reported in box 2, not any other amounts that you reported on the first K-1 entry. In other words, do not duplicate any numerical entries. Also, if other numerical entries on the schedule are applicable to the box 2 income, only enter those on the second K-1 entry.

Only if the distribution was used for something other than the special needs beneficiary does the 1099-QA need to be reported.    If all or part of the distribution was used for unqualifying purposes, enter only that unqualifying portion in TurboTax.    Enter only the taxable portion under Other Tax Situations  Additional taxes and repayments   OR  Search    1099-qa    and select the   "Jump to 1099-qa"   link    HERE is more information about an ABLE account 

Couldn't agree more with all responses about this horrible new GUI. Very cartoonish format - not appropriate for financial software. Been using for >20 years  - if this is not reverted to older format or improved per this thread comments, I will be switching to a new vendor for future tax years.