All Posts

I am royally pissed! @ INTUIT. In TurboTax Deluxe, I put in both IP PINs and YOU did not save my spouse's IP PIN, SO AGAIN, (2nd time) THE RETURNs (Federal and State) were REJECTED, and I had to pay A THIRD $$$25$$$ State filing FEE. I AM FURIOUS !!! WHEN I RAN CHECK STATUS, BEFORE FILING THE SECOND TIME, IT SAID EVERYTHING WAS CORRECT/OK !!! WRONG !!! ONE OF THE IP PINs WAS NOT RECORDED !!! THIS IS INTUIT's ERROR !!! YOUR SOFTWARE NOW COST ME NOT $80, BUT $155 !!! YOU GOUGED ME.   To others, this is a glitch in TurboTax (that existed in, at least back to 2023, in which I also had to refile). If you want to absolutely avoid fees for refiling because of the glitch, DOUBLE-check the entry. The 1st time, I was prompted for the Personal PIN but Not the IP PIN. After running (1st) "Check your Return for Accuracy", it falsely reported everything was OK, even though the IP PIN was Missing. Therefore, Do Not File the 1st run until you double-check it. (#2) Go to menu > View / Forms / Info Wks / Part VII and check the IP PIN for the 6-digit number you received directly from the IRS via mail or from the website. In order to regenerate the accuracy check, you will need to go through menu > Step-by-Step / State Taxes / Work on States / Done with States / Let's make your taxes are correct / Continue. Finish the prompts to "Good news!" and Do Not Continue to File.  Instead, go back through the routine (#2, above) again. Then you should file, unless it was missing. If it was missing, start over from the beginning and run routine #2 twice more. You can now file. Good luck, as I pray this works for everyone else. David

Thank you so much 🙂 Not to mention, so many of their employees were just let go, so not sure they even have the man power to chase my Mom's tiny IRA RMD, lol. Thank you and I guess I'll just have to keep a folder specific to all activity on her/my inherited IRA. Thank you again and wishing you a wonderful rest of the year.

Yes, if  your work as an independent contractor was a business you operated with the primary purpose of profit, and were engaged in regularly, then you have a business and should report the income and related expenses on Schedule C. You don't need an LLC to report business income on Schedule C.   Here's how to report your business in TurboTax Online:   Navigate to Federal > Wages & Income > Self-employment income and expenses > Start Answer "Yes" to the question "Did you have any self-employment income or expenses?" Give a description of the business Continue until the interview asks "how does your  work fit into your big picture?", based on the information you provided, it's a business. Answer all the informational questions until you get to the screen  "Let's enter the income for your work."  Here, enter what you were paid. Once you've entered your income, type in your expenses in the proper categories, TurboTax Online will recommend popular categories, but refer to your records to ensure you are deducting all of your expenses

It's asking how much of the money you used from your refinance to improve your home. You can deduct mortgage interest when the loan proceeds are used to buy, build, or improve your main home and one other home you own and use for personal purposes.   Refer to the TurboTax article Mortgage Interest Deduction: How Does it Work? for additional information.

Amounts for Schedule 1 come from a variety of sources.  Here is what Schedule 1 looks like: https://www.irs.gov/pub/irs-pdf/f1040s1.pdf   You make the entries via the interview screens in the software.  

My dad died late in Nov also. The IRS can see account values at the end of the year for everyone.  As long as you have the paperwork trail that shows you are doing your best to follow the rules, you don't need to worry.  If the IRS didn't have so much data available, it might be different. You are smart to ask questions and know you are doing the right thing.

Schedule 1 numbers come from various places, since there are many different descriptions on Schedule 1.  Can you let us know specifically what line you have information for that you'd like to report?   See: IRS Schedule 1

The deduction is gradually reduced and eventually eliminated by phaseout when your modified adjusted gross income (MAGI) amount reaches the annual limit for your filing status.      For 2024, the amount of your student loan interest deduction is gradually reduced (phased out) if your MAGI is between $80,000 and $95,000 ($165,000 and $195,000 if you file a joint return). You can’t claim the deduction if your MAGI is $95,000 or more ($195,000 or more if you file a joint return).   See Pub 970.

If the deceased person meets the filing requirements, a tax return will need to be filed. Their surviving spouse can file if there is no executor of the estate.  If she wasn't married, as a survivor of the deceased, you can file her tax return and claim her refund if there's one.   You will use the taxpayer's SSN, not yours when you file taxes for a deceased taxpayer.  For more information, refer to the TurboTax article regarding filing a final tax return and the IRS article File the Final Income Tax Returns of a Deceased Person.   Please accept my sincere condolences for your loss.