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October 9, 2025
5:06 PM
Will look for another tax program now
October 9, 2025
4:59 PM
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October 9, 2025
4:57 PM
@Mike9241 Then I closed the Antimalware real-protection. I used the cleanup tool and then restarted. The mem could drop from 131MB to 80MB. But it still shows “insufficient space” and “4GB or...
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@Mike9241 Then I closed the Antimalware real-protection. I used the cleanup tool and then restarted. The mem could drop from 131MB to 80MB. But it still shows “insufficient space” and “4GB or more” needed. Which friend knows the solution? Thanks a lot.
October 9, 2025
4:57 PM
I was supposed to get my adjustment letter this week from September 19 but I still haven’t received it yet so I guess maybe I need to call the IRS
October 9, 2025
4:51 PM
"It was the next line that reads "Include any IRA contributions [name] made or will make in 2025 for 2024" that caused me confusion." This is in regard to entering your contributions, not to ente...
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"It was the next line that reads "Include any IRA contributions [name] made or will make in 2025 for 2024" that caused me confusion." This is in regard to entering your contributions, not to entering the FMV. "the FMV (Line 5) is blank" This is presumably indicating that you had no money in this traditional IRA on 12/31/2024. A SEP IRA is a type of traditional IRA, so it's value must be included in the total FMV (and in this case would be the total amount to be entered). The recharacterized contribution reported on the code-R 2024 Form 1099-R should have been reflected on your 2023 tax return. You can enter this form into 2024 TurboTax, but 2024 TurboTax will ignore it other than to remind you that it should have been reflected on your 2023 tax return, with the result being a traditional IRA contribution, presumably nondeductible reported on your 2023 Form 8606.
October 9, 2025
4:48 PM
Greetings, Charles Schwab reported the 2024 maturity of a Treasury security on Form 1099-B. For this question, let's say I purchased it at $900 and it matured at $1,000. I uploaded the 1099 electr...
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Greetings, Charles Schwab reported the 2024 maturity of a Treasury security on Form 1099-B. For this question, let's say I purchased it at $900 and it matured at $1,000. I uploaded the 1099 electronically on TurboTax. TurboTax reflects the proceeds and cost basis on line 1b of Schedule D and the $100 difference they reported as a negative $100 on that same line in column g (so no gain for this item flows from Schedule D to the 1040). TurboTax then placed the $100 on Schedule B as "US Treasury Interest *Matured* Accrued Market Discount" and from there it flows up to the 1040 as taxable interest income. On the California return TurboTax did not include the $100 on the CA Interest and Dividend Adjustment Worksheet, so the amount is being taxed by CA. I am looking for a way to fix this if one exists. Any help with a fix or informing me that the only solution is an override. I already have an amount on the CA Int-Div Adj WS on Line 1 Col B (I think this is the actual interest I received on the bond. Many thanks for any suggestions.
October 9, 2025
4:45 PM
You can still maximize a 401(k) with your W-2 income and then separately contribute to a SEP IRA based on your self-employment (1099) income.
October 9, 2025
4:42 PM
Here is my situation I have changed job during year 2025. I have invested in 401k through both employers. Second employer has better match than first employer. I expect that I will exceed limit...
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Here is my situation I have changed job during year 2025. I have invested in 401k through both employers. Second employer has better match than first employer. I expect that I will exceed limit for 401k contribution for the year. Question Should I just call my previous employer during 2025 itself and return excess contribution that I expect, or can I do that after year 2025 ends? Implications If I can call them after 2025 ends, I can calculate precise amount for my previous employer to exclude from 401k. If I must call them before year ends, I will end up making an educated guess of my total 401k contribution for the year.
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October 9, 2025
4:32 PM
I have W-2 and 1099 income during the year 2025. I am going to maximize my 401k based on my W2 income for the year. Can I additionally invest in SEP IRA as well?
Topics:
October 9, 2025
4:32 PM
Topics:
October 9, 2025
4:15 PM
can you confirm if you are eligible to make the Roth contribution (via recharacterization) as you stated "I am over the income threshold for both Regular and Roth IRA deductible" - deductible contrib...
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can you confirm if you are eligible to make the Roth contribution (via recharacterization) as you stated "I am over the income threshold for both Regular and Roth IRA deductible" - deductible contributions don't apply to Roths, the income limit applies to the ability to contribute if that's what you're referring to for the Roth, which would result in an excess contribution with 6% penalty until it's rectified
October 9, 2025
4:14 PM
1 Cheer
What you did was converted Traditional IRA to Roth IRA. There is no deadline for that action. For 2024 tax return, report a non-deductible Traditional contribution of $8,000 on 2024 Form 8606. T...
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What you did was converted Traditional IRA to Roth IRA. There is no deadline for that action. For 2024 tax return, report a non-deductible Traditional contribution of $8,000 on 2024 Form 8606. That's all. Report conversion on your 2025 tax return. @user17598876232
October 9, 2025
4:13 PM
For the 2025 program that comes out in November click on the 2025 tab at the top. For 2025 Desktop program you will need Windows 11.
October 9, 2025
4:09 PM
What you did, assuming the custodian followed through, is not allowed. For recharacterization, you must use a trustee-to-trustee transfer before the due date April 15,2025 ( or Oct 15, 2025 if 1040 ...
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What you did, assuming the custodian followed through, is not allowed. For recharacterization, you must use a trustee-to-trustee transfer before the due date April 15,2025 ( or Oct 15, 2025 if 1040 was timely filed or extended). You missed the deadline by two weeks. It's not clear what action the custodian actually took based on your instructions. @user17598876232
October 9, 2025
4:00 PM
I had the same issue. What I did (which seemed to work) was to create a separate K-1 entry for each entity (my K-1 also had a supplemental 199A attachment that included two additional entities). ...
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I had the same issue. What I did (which seemed to work) was to create a separate K-1 entry for each entity (my K-1 also had a supplemental 199A attachment that included two additional entities). I created a K-1 entity for each entity to enter the supplemental 199A information which was just the box 20 information. Not sure if this is your fact pattern but, if so, hope it works for you.
October 9, 2025
4:00 PM
Tax years are not combined. The desktop download software for 2025 returns will become available in mid to late November and will require many updates. No one will file a 2025 return until early ...
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Tax years are not combined. The desktop download software for 2025 returns will become available in mid to late November and will require many updates. No one will file a 2025 return until early in 2026.
SYSTEM REQUIREMENTS FOR DESKTOP DOWNLOAD 2025
https://turbotax.intuit.com/personal-taxes/cd-download/tta-system-requirements/
October 9, 2025
3:58 PM
"will my account be in a review status" IRS has already done the review and notified you of same. @Sooners74477
October 9, 2025
3:56 PM
Can I still download turbotax to my pc for 2025-2026 taxes??
October 9, 2025
3:56 PM
It seems you've exhausted the usual options for getting satisfaction from IRS. Your refund is in limbo for an undefined period of time. @JAK1974