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a month ago
Yes,. If you did not claim the Overtime deduction and you qualify for the deduction, then you can Amend Your Return to claim it. The amended forms are not quite ready yet, but you can use this tool ...
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Yes,. If you did not claim the Overtime deduction and you qualify for the deduction, then you can Amend Your Return to claim it. The amended forms are not quite ready yet, but you can use this tool to see when they become available. Since this is an above the line deduction, depending on your tax situation, you may or may not see a difference in your refund. If you do not, then you would not need to amend the return. You can then go to the delete a form section and delete the 1040X.
To qualify the following must apply:
You must be a non-exempt employee eligible for Overtime under the federal Fair Labor Standards Act
The Overtime must be on hours worked OVER 40 hours. (if you live in a state where OT pay is required after 8 hours, this does not apply)
Only the premium or .5 over your hourly rate is deductible.
Overtime must be paid at more than your regular hourly rate.
Your filing status cannot be Married Filing Separately
Your income must be less than $150,000 if you are single or $300,000 if Married Filing Jointly.
A few notes amount amending
You will have to use the same TurboTax account that you used for the original tax return.
The refund calculator will start new at $0. The new number you see will be the number you now owe or the extra you will get back. This number takes into consideration the amount of your refund or payment in the original return.
Select your product below and follow the instructions.
Amend TurboTax Online
Amend TurboTax CD/Download
a month ago
dont have either of those and the manufacture of my solar panels is not listed on the IRS web site. So need other alternatives to find the QMIN
The info I find on the internet does say it can be deducted even with taking the standard? Yes, you can use Form 1098-VLI to claim a deduction for interest paid on a qualified new-vehicle loan, e...
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The info I find on the internet does say it can be deducted even with taking the standard? Yes, you can use Form 1098-VLI to claim a deduction for interest paid on a qualified new-vehicle loan, even if you are taking the standard deduction, because this, (often referred to as part of the One Big Beautiful Bill Act (OBBBA)) allows for a below-the-line deduction. It is designed as a temporary incentive to deduct up to of interest paid on qualified vehicle loans, independent of itemizing.
a month ago
Are you unable to e-file because of not knowing your AGI? If you have last year's tax return available, you can look up your AGI, which will be the number on line 11 of the Form 1040 that you would ...
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Are you unable to e-file because of not knowing your AGI? If you have last year's tax return available, you can look up your AGI, which will be the number on line 11 of the Form 1040 that you would have filed last year with the IRS.
You can also look up your AGI in your IRS account online - it would be in the tax records section of your account.
If the issue is with working in TurboTax and having problems with your residency dates in each state, would you be able to provide more information about the issue you're having with those dates so that we can better assist you.
a month ago
Supposedly coming this Thursday night or Friday.
a month ago
The ROTH owner also had to have the income to cover the contribution. You should not have a tax liability. The concern is the IRS asking questions later vs waiting on the fix. It is your choice. The ...
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The ROTH owner also had to have the income to cover the contribution. You should not have a tax liability. The concern is the IRS asking questions later vs waiting on the fix. It is your choice. The IRS is getting quite sophisticated and knows account balances and socials so they may not even ask. Either way, keep good records, just in case. Well done with the rules!
a month ago
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a month ago
Yes!! you did it. Thank you so much. Where/How to do I indicate how satisfied I am with your assistance?
a month ago
By February means by Feb 1st, so w here is "depreciation"?
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a month ago
I got through to Tech Support and there is an open ticket on this issue and "... a team is working on correcting this known problem".
a month ago
2 Cheers
We've identified this as an issue in TurboTax, and are currently working to resolve it as soon as possible. As soon as we have a resolution for this, we will update you in this Community thread. Than...
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We've identified this as an issue in TurboTax, and are currently working to resolve it as soon as possible. As soon as we have a resolution for this, we will update you in this Community thread. Thank you all for sharing your experience.
a month ago
I am having the same issue. I enter the login credentials for Schwab when prompted. After I answer the questions from Schwab, I see a screen that says "Success! We got your tax data. You can now r...
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I am having the same issue. I enter the login credentials for Schwab when prompted. After I answer the questions from Schwab, I see a screen that says "Success! We got your tax data. You can now return to TurboTax." When I return to TurboTax, I am at the screen that says, "click on Continue to start import". If I click Continue, it takes me through the whole process again. I don't see any tax data from Schwab in TurboTax. I am using the Deluxe Desktop edition.
a month ago
Do you have health insurance through the marketplace? Healthcare.gov? "Obamacare" ? "Affordable Care Act"? If you have that kind of insurance you get a 1095A. If you have some other kind o...
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Do you have health insurance through the marketplace? Healthcare.gov? "Obamacare" ? "Affordable Care Act"? If you have that kind of insurance you get a 1095A. If you have some other kind of health insurance that is paid for by your employer (or through your employer) you might have a 1095B or 1095C. You do not enter anything about that. You only enter a 1095A if you have one. If you do not have a 1095A you say NO the question about it and move on.
a month ago
Unless this is a rental property that you are going to be leasing out to someone then this won't go on your tax return until you sell it. Right now this is either your primary residence or a second ...
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Unless this is a rental property that you are going to be leasing out to someone then this won't go on your tax return until you sell it. Right now this is either your primary residence or a second home.
In either case the costs of financing are not deductible, only mortgage interest and property taxes are. So you won't need to worry about including it at this point.
a month ago
@taylorda603 Hah! Did you find it? Keep going. I see that page on entering/ typing in a new 1099-R form. YOU just fill in the information for the provider on that page THEN..."Continue"...
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@taylorda603 Hah! Did you find it? Keep going. I see that page on entering/ typing in a new 1099-R form. YOU just fill in the information for the provider on that page THEN..."Continue" ......and the next page shows you ALL the boxes you fill in with any $$ values you have on your paper 10999-R form. ....it's there in box 4 for Fed withholding and box 14 for state withholding, but you need a bunch of other boxes too...not all of them but many.
a month ago
how do I determine if I'm a stautory employee?
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a month ago
Yes. Enter one 1098-T and combine box 1 for a total amount paid. Continue combining boxes as needed. Scholarship income can cover both forms. The IRS receives both forms and knows what they say so th...
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Yes. Enter one 1098-T and combine box 1 for a total amount paid. Continue combining boxes as needed. Scholarship income can cover both forms. The IRS receives both forms and knows what they say so there are no issues combining these 2 informational forms for one correct tax form.
a month ago
I work remotely 40% of the time, so income should be reduced by 40% when I go to the allocation of working days, but my Federal Wages and Detroit Wages remain exactly the same. The adjustment is not a...
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I work remotely 40% of the time, so income should be reduced by 40% when I go to the allocation of working days, but my Federal Wages and Detroit Wages remain exactly the same. The adjustment is not adjusting.
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a month ago
1 Cheer
It may not be lost. However, it takes the IRS time to process amendments once received. The transcript of your original return will never be replaced if you happen to be checking that. The process ca...
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It may not be lost. However, it takes the IRS time to process amendments once received. The transcript of your original return will never be replaced if you happen to be checking that. The process can be as little as six weeks and as along as six months. With a deadline getting close, it's important to mail certified or priority so that you have a receipt of delivery. It's still not a guarantee, but it's something to use if necessary.
It's frustrating but it will be a waiting game.
@parcar5