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4 weeks ago
The additional senior deduction enacted due to the One Big Beautiful Bill Act (OBBBA) is not reported as part of the standard deduction on your tax return. Instead, you will see it included on Form ...
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The additional senior deduction enacted due to the One Big Beautiful Bill Act (OBBBA) is not reported as part of the standard deduction on your tax return. Instead, you will see it included on Form 1040 line 13b. Amounts shown on line 13b can be traced back to Schedule 1-A line 38 where the total Enhanced Deduction for Seniors is calculated.
4 weeks ago
Yes, provided you haven't already filed the return and you've paid the TurboTax fees.
You will have to pay all of the TurboTax fees
You will have to use a credit card, debit card, or prep...
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Yes, provided you haven't already filed the return and you've paid the TurboTax fees.
You will have to pay all of the TurboTax fees
You will have to use a credit card, debit card, or prepaid card.
You can't deduct fees from your refund if you choose a paper check.
To select the paper check option
Go to Review and File
Select the paper check option instead of direct deposit.
4 weeks ago
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4 weeks ago
I am running on a MacBook. TurboTax worked fine last year. How do I cancel the survey or make it accept my response so I can start the return? Nobody answers the phone support line.
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4 weeks ago
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4 weeks ago
Yes, Form 1099-R box 9b represents the amount that you contributed to the retirement plan, or your 'plan cost'.
This number is used to reduce the taxable portion of each distribution that you...
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Yes, Form 1099-R box 9b represents the amount that you contributed to the retirement plan, or your 'plan cost'.
This number is used to reduce the taxable portion of each distribution that you receive from the plan. Each distribution is a combination of returning some of that cost to you and the rest is from earnings or contributions made by the employer. The portion of the distribution coming from your plan cost is not taxable to you.
Typically, box 9b may only be included on Form 1099-R for the first year distributions are received, so it is important to keep up with that amount in the event it is needed on future tax returns.
4 weeks ago
It finally worked. Thanks!
4 weeks ago
I purchased a turbo tax from sams club. Finished my taxes with turbo tax and was not able to use what i purchased for 45 dollars code did not work> can i please get a refund because sams club will no...
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I purchased a turbo tax from sams club. Finished my taxes with turbo tax and was not able to use what i purchased for 45 dollars code did not work> can i please get a refund because sams club will not refund this. Thank you
4 weeks ago
I don't participate in either of these.
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4 weeks ago
My standard deduction is $17,750. That is $15,750 + the senior bonus of $2,000. Isn't there another bonus of $6,000? Shouldn't it be $23,750?
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4 weeks ago
As per Pub519 a dual-status alien couple can choose to be full tax year resident and do MFJ, the doc explicitly states of attaching election document, how can i do that with TurboTax?
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4 weeks ago
A new, temporary additional deduction of $6,000 for those aged 65 and older (or $12,000 for a married couple if both qualify) is available for tax years 2025 through 2028. The deduction begins to pha...
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A new, temporary additional deduction of $6,000 for those aged 65 and older (or $12,000 for a married couple if both qualify) is available for tax years 2025 through 2028. The deduction begins to phase out at income greater than $75,000 and $150,000 if you’re married filing jointly. This is in addition to the standard deduction or itemized deductions.
The senior deduction is automatically calculated by TurboTax based on the dates of birth you entered for each spouse.
The senior additional deduction appears on line 37 of Schedule 1-A of your form 1040, with that amount flowing to line 13b of your form 1040.
In TurboTax Online, you can only view Schedule 1-A after registering and paying the TurboTax fee.
But you can preview your form 1040 and check line 13b of your form 1040 which includes the senior deduction among other deductions if applicable, such as the tip deduction, the overtime or the car loan interest deduction.
to preview your form 1040 in TurboTax Online, follow these steps:
Open your return
In the left-hand column, locate Tax Tools, click on the drop-down arrow then click on Tools
On the Tools Center page, click on View Tax Summary
In the left-hand column, click on Preview my 1040
Your form 1040 will display.
Scroll down to line 13b and you should see the amount of this deduction included in this line.
4 weeks ago
I believe using a dummy EIN will cause issues with e-filing. It has been suggested on several occasions that foreign pension distributions should simply be reported in the Other Income section, since...
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I believe using a dummy EIN will cause issues with e-filing. It has been suggested on several occasions that foreign pension distributions should simply be reported in the Other Income section, since the pension is not subject to, or related to, any US pension laws and is therefore simply other reportable income and is not considered a pension by the IRS. If any tax was withheld at source by HMRC, this can be entered in the Foreign Tax Credit section as a credit or a deduction.
4 weeks ago
To enter Form 1099-S, please follow the instructions in this TurboTax Help article.
4 weeks ago
Mine corrected but I do have some concerns. Its showing the fees being taken out of federal. They already took the fees out of my state during this mix up?? I hope it doesnt charge me again.. @Catina...
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Mine corrected but I do have some concerns. Its showing the fees being taken out of federal. They already took the fees out of my state during this mix up?? I hope it doesnt charge me again.. @CatinaT1
4 weeks ago
How can you deduct the cost of goods sold on a 1099-K received by eBay commerce?
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4 weeks ago
No, you don't have to use a deduction even if it's available, but the overtime is included in Box 1 of your W-2. You'll end up paying the tax on it.
As a note, TurboTax free edition does suppo...
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No, you don't have to use a deduction even if it's available, but the overtime is included in Box 1 of your W-2. You'll end up paying the tax on it.
As a note, TurboTax free edition does support Form 1A that includes the No Tax on Tips feature.
It's easy to calculate:
Take your hourly wage X 9 Fours X 0.50 = Your overtime pay.
The straight time portion is not deductible.
Log into TurboTax
Click on Tax Home on the left sidebar.
Select Wages & Income.
Review/Edit or select W-2.
Enter your Employer ID.
The options for Snap a picture and Upload have step-by-step directions.
You can also select [Type it Myself] at the bottom of the screen.
Enter your employer's information.
Post the information from the W-2.
You may be prompted to double check certain information.
A sample of your tax due or refund will be posted for the data you have entered so far.
A Let's check for uncommon situations that'll come up.
This is where you will post Tips and other uncommon situations.
Continue through the interview if any of these apply.
This will bring you back to the summary page.