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April 28, 2025
9:17 AM
Rental information
April 28, 2025
9:15 AM
Are you entering your 1095-A just as it was reported to you? What sort of problems are you having?
April 28, 2025
9:13 AM
Yes, you will file on the BSA website.
@Kat409
April 28, 2025
9:12 AM
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April 28, 2025
9:08 AM
You will need to download the .tax2023 file and switch to the Desktop program. How to finish a return you started online https://ttlc.intuit.com/community/prior-year-return/help/how-do-i-finish-a-p...
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You will need to download the .tax2023 file and switch to the Desktop program. How to finish a return you started online https://ttlc.intuit.com/community/prior-year-return/help/how-do-i-finish-a-prior-year-return-that-i-started-in-turbotax-online/01/26322 If you can't get the side menus to open up to access the prior year..... You need to start entering some basic Personal Info in 2024 for the side menu to open up. Just continue a little ways into 2024.
April 28, 2025
9:07 AM
Make sure you are in the same account you used when you filed your 2023 Return.
Scroll down to the bottom of the screen and on the section Your tax returns & documents click on Show. Click on ...
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Make sure you are in the same account you used when you filed your 2023 Return.
Scroll down to the bottom of the screen and on the section Your tax returns & documents click on Show. Click on the Year and Select 2023.
April 28, 2025
9:06 AM
Where, on Form 1040 or any schedule, does this show on the income tax return? Thanks.
April 28, 2025
9:04 AM
Topics:
April 28, 2025
9:01 AM
Hello, I recently made wrongly a request for excess contribution removal from my Roth IRA account. I got confused about the Roth IRA and Roth 401k contribution limits, since I thought they share t...
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Hello, I recently made wrongly a request for excess contribution removal from my Roth IRA account. I got confused about the Roth IRA and Roth 401k contribution limits, since I thought they share the same max limit of $6000 (in 2022). Since in 2022 I had contributed in both my Roth IRA and Roth 401k plans, I thought I contributed more than $6000 totally so I requested an excess contribution removal of 1901.81 from my Roth IRA and for that I will receive a 1099-R in 2026. This amount was transfered as in kind shares into my brokerage account (instead of cash) so I received 1.638 shres of VFIAX ($901.80) and 23.414 shares of VTWAX ($1,000.01). When I realized that I had never overcontributed since Roth 401k and Roth IRA are different, I requested for a rollover to my Roth IRA. However the shares transfered were not the same, nor the amount of money. So Vanguard rollover back 1.871 shares of VFIAX ($1,000.42) and 21.35 of VTWAX ($901.82) with a total amount increased $0.43 (they transferred totally $1,902.24 instead $1,901.81). Later when discussing with vanguard agents over phone, they told me that because the previous distribution was an excess contribution, IRS doesnt allow rollover (even if there was really never an excess contribution into my Roth IRA) and I had to remove again the money they rollover. So I did but again they didnt remove exact amount of shares, and they distributed 1.83 shares of VFIAX equally to $889.78 due to market fluctuations (instead of 1.871 they rollover) and 20.833 shares of VTWAX equally to $802.07 (instead of 21.35 share they rollover). They nnumber of shares are close to what they rollover but not exact amount. So how can I treat this all this confusion in the upcoming Tax return considering that I never really overcontributed into my Roth IRA? For the above transactions I will remove a 1099-R for the 2 distributions and the rollover, showing different amounts: a. Should I sell some shares and ask them to remove the exact remainng cash amount of the amount rolled over from my settlement account? b. Since I never over-contributed , should I leave this as it is and the IRS will see 2 distributions and one rollover with extra 0.43$? It seems that Vanguard is doing mistakes for any request I'm doing. c. Any other option?
Topics:
April 28, 2025
8:56 AM
The adjustment is made immediately and rides along with those shares. "If a wash loss sale is triggered by another sale," Can't happen. only a BUY within +/- thirty days can trigger a wash sa...
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The adjustment is made immediately and rides along with those shares. "If a wash loss sale is triggered by another sale," Can't happen. only a BUY within +/- thirty days can trigger a wash sale. those bought shares are the shares adjusted. If you bought N which is fewer than M that you sold then only N sold shares have their loss disallowed., Another purchase 200 days later is not involved. @Bonfirebook
April 28, 2025
8:54 AM
Yes, well so since my information and everything is the same as last years they mention that the forms didn’t get used last year and asked if I wanted to remove or keep them…so I could remove if I wa...
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Yes, well so since my information and everything is the same as last years they mention that the forms didn’t get used last year and asked if I wanted to remove or keep them…so I could remove if I wanted?
April 28, 2025
8:44 AM
@newelll21 Did you have 0 taxable social security on 1040 line 6b? Did you get a letter from the IRS? The IRS has been catching that and sending out bills so you shouldn't need to amend. I wo...
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@newelll21 Did you have 0 taxable social security on 1040 line 6b? Did you get a letter from the IRS? The IRS has been catching that and sending out bills so you shouldn't need to amend. I would wait to hear from the IRS. There is a new question this year asking if you lived in a foreign place. People have been answering it wrong or skipping it. Go back through the Social Security entries.
April 28, 2025
8:44 AM
Correct. If you are paying 73.22% and the employer is paying 26.78%, then 26.78% would be taxable. The percentage that you contribute is not taxable.
April 28, 2025
8:25 AM
yes not futures but some brokers designate certain option spreads as Section 1256 contracts - but the statement should show that clearly; so if they're just included as sales under regular 1099B sect...
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yes not futures but some brokers designate certain option spreads as Section 1256 contracts - but the statement should show that clearly; so if they're just included as sales under regular 1099B sections, what's the issue, are they just missing cost basis? Generally you would input each leg as tho they are separate and will get to the net gain/loss on Schedule D. The short leg may have zero for the cost basis and falling under the "cost basis not reported to the IRS" i.e. non-covered category. You may want to input these as "one by one" with the details rather than as a sales summary, that should help avoid having to mail more details to the IRS. TT also doesn't handle short options well they provide all these drop downs and buttons, but if you select expired it doesn't allow you to input proceeds, so say they were sold either way, this doesn't matter as long as you get the right outcome on Form 8949 / Schedule D, and you have to input that leg was 'sold' on open date and 'acquired' on the close date etc. Hope this helps. If some other issue pls do post further.
April 28, 2025
8:23 AM
TurboTax gives you an estimated date for receiving your refund based on a 21 day average from your date of acceptance, but it can take longer. “21 days” is not a promise from TurboTax or the IRS. ...
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TurboTax gives you an estimated date for receiving your refund based on a 21 day average from your date of acceptance, but it can take longer. “21 days” is not a promise from TurboTax or the IRS.
First, check your e-file status to see if your return was accepted:
https://turbotax.intuit.com/tax-tools/efile-status-lookup/
Once your federal return has been accepted by the IRS, only the IRS has any control. TurboTax does not receive any updates from the IRS. Your ONLY source of information about your refund now is the IRS.
You need your filing status, your Social Security number and the exact amount (line 35a of your 2024 Form 1040) of your federal refund to track your Federal refund:
https://www.irs.gov/refunds
To track your state refund:
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_US_en_US?uid=lt447ebr
If you chose to have your TurboTax fees deducted from your federal refund, that will take some extra time, while the third party bank handles the refund processing
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/refunds-take-longer-others/L14YlqFrH_US_en_US?uid=lexdr7zh
.
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/irs-refund-taking-longer-21-days/L2vRAJbdU_US_en_US?uid=lexe7lst
April 28, 2025
8:23 AM
Once your return is filed, TurboTax has no control over the processing of your return or the release of your refund.
Here are a couple FAQs to track your refund: When will I get my federal tax...
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Once your return is filed, TurboTax has no control over the processing of your return or the release of your refund.
Here are a couple FAQs to track your refund: When will I get my federal tax refund? How do I track my state refund? Why does Where's My Refund say "approved" but TurboTax still says "accepted"?
Why do some refunds take longer than others?
What if my IRS refund is taking longer than 21 days?
You will need to contact the IRS for information. It might be easiest to set up an account with them.
IRS Individual Online Account
Taxpayers with a Social Security number or an Individual Taxpayer Identification Number can create or access their IRS Individual Online Account to get information they need to file their return.
With an IRS Individual Online Account, people can:
View balance owed, payment history and schedule payments.
Cancel scheduled payments.
Get transcripts.
View or create payment plans.
See digital copies of some IRS notices.
View key data from their most recently filed tax return, including adjusted gross income.
Validate bank accounts and save multiple accounts, eliminating the need to re-enter bank account information every time they make a payment.
View, approve and electronically sign power of attorney and tax information authorizations from their tax professional.
April 28, 2025
8:21 AM
Tax return has been accepted by IRS but not yet approved. Filed 3/23/2025
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April 28, 2025
8:20 AM
For your 2023 return I suppose you will need to make sure that an 8959 is generated by switching to forms view and adding it. That should get your return ready to be amended.
I am not sure wha...
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For your 2023 return I suppose you will need to make sure that an 8959 is generated by switching to forms view and adding it. That should get your return ready to be amended.
I am not sure what is happening with this issue as I was unable to get my program to duplicate the error. But we are continuing to look into the problem.
@Samhome