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You'd better get the exact details and understand what is proposed, My brother-in-low was promised tax efficiency on a recommended strategy. He ended up paying an addtional $14,000 to the IRS and State just yesterday. He's not a happy camper.

Many thanks for your prompt reply KrisD. There are other services and repairs done for the whole home, can I list the percentage area on that screen (e.g. electrical work, plumbing, pest control., etc.)

You do not enter $47,223.  Is the trust a simple trust, or a complex trust.  Since you mention a required distribution I am guessing that it is a simple trust.  This means that it is required to distribute all income, and prohibited from distributing principal including capital gains (in most cases).   If you didn't, and aren't planning to distribute any of the capital gains to the beneficiary you do not allocate any portion to the beneficiary.

So which way is Turbo Tax recommending then?   1.  Enter $1 in Box 1 and Box 12 enter the actual wage amount and then efile?  OR 2. Enter Actual Wage amount in Box 1 and then do the uncommon situation and medicaid waiver of payment and then efile?   @SusanY1 @MonikaK1 @

To access your tax return after you've e-filed it or printed it as part of mailing your return to the IRS:   Sign in to TurboTax. Select Tax Home from the menu. Scroll down to Your tax returns & documents. Select 2024, and then select Add a State (you're not actually adding a state, this just gets you back in). You'll now be in your return. See this help article for more information.   If you need to change your return that was already e-filed, you would need to amend it after the IRS had processed it.   See this article and this one for more information on filing an amended return with TurboTax.    

Here's where you enter Form W-2G (Certain Gambling Winnings) in TurboTax:   Open or continue your return. Locate the W-2G section: TurboTax Online/Mobile: Go to W-2G. TurboTax Desktop: Search for W2G (don't include any hyphens) and select the Jump to link. Answer Yes on the Did you win money or other prizes in 2024? screen and follow the instructions to enter your W-2G. After you've finished entering all of your gambling winnings, we'll ask about any losses you may have had.  Losses can be deducted up to the amount you reported winning, but only if you itemize.

If TurboTax is reporting your From 1099-INT total to be $20,000 greater than what they actually total, you can review your 1099-INT entries and you can also delete any incorrect FOrms 1099-INT and re-enter them manually.   To review your 1099-INT entries, you can: Click on the search icon at the top right of your TurboTax screen Type "1099-INT" in the search bar Click on the link "Jump to 1099-INT" Review your TurboTax entry screens To delete a Form 1099-INT For TurboTax Desktop: Open/continue your return Click on "Search"  And in the search bar type"1099-INT" Select "Jump to 1099-INT" It'll take you to a screen that shows your Form(s) 1099-INT that you have entered. Next to the Form 1099-INT you want to delete, click on the (down-Facing) caret Click on the "garbage can" to delete this form To delete a Form 1099-INT for TurboTax Online: Open/continue your return Click on magnifying glass for Search in the top right of your screen And in the search bar type"1099-INT" Select "Jump to 1099-INT" It will take you to a screen that shows your Form(s) 1099-INT that you have entered. Next to the Form 1099-INT you want to delete, click on the (down-Facing) caret Click on the "garbage can" to delete this form You can enter your forms 1099-INT manually using the instructions below: Open your return In the search Bar enter Form 1099-INT Select "Jump to 1099-INT" It will ask, "Did you have investment income in 2024?" Select "Yes" Select "Continue" Select "Skip Import" You will Select your investment type which is "Interest" You will "Continue" Then you will see the screen "Let's get the info from your 1099-INT" You will type in the information from your Form 1099-INT on that page. Answer the follow-up questions. You will be able to select "Add Investments" to add additional Form(s) 1099-INT.   Click here for How Do I View and Delete Forms in TurboTax Online   Click here for "How to Delete Forms in TurboTax Desktop.   Click here for information on entering a Form 1099-INT.

Thanks of the reply. However this does not solve the problem. 1-I'm self employed, there is no work retirement plan. 2- modified AGI will be less than $123,000.00. We are entitled to contribute $8,000 each, but the program isn't allowing it. It says we have to withdraw the excess or face a penalty. What excess???

I would like to take a deeper look at this. However, I need a diagnostic file which is a copy of your tax return that has all of your personal information removed. You can send one to us by following the directions below:   TurboTax Online: Sign into your online account. Locate the Tax Tools on the left-hand side of the screen. A drop-down will appear. Select Tools On the pop-up screen, click on “Share my file with agent.” This will generate a message that a diagnostic file gets sanitized and transmitted to us. Please provide the Token Number that was generated in the response. TurboTax Desktop/Download Versions: Open your return. Click the Online tab in the black bar across the top of TurboTax and select “Send Tax File to Agent” * This will generate a message that a diagnostic copy will be created.  Click on OK and the tax file will be sanitized and transmitted to us. Please provide the Token Number (including the dash) that was generated in the response. *(If using a MAC, go to the menu at the top of the screen, select Help, then, “Send Tax File to Agent”)  

It depends. Is it possible that you entered it in another location, such as Personal Property Taxes?   Also, the deductible amount of vehicle registration fees varies by state. See this TurboTax tips article for more information.   If you are using TurboTax Online, you can preview your return before filing to find out how your taxes were calculated and where your entries appear. See here for details.     

TurboTax transfers data from your federal return to your state return. Before you begin troubleshooting your state return, go back through your federal return and make sure everything is correct.  Make sure you entered your educator expenses on your federal return.     After you review your federal return, select the State Taxes tab and review the state section. Pay close attention to the information, especially if you have made changes to your federal return. There might be new sections that need to be completed.    Troubleshooting common federal to state transfer issues    

You enter the Form 1099-MISC in the Wages and Income section of TurboTax, then Other Common Income, then Income from Form 1099-MISC. To not have the income count as self-employment income, you would have to indicate that the income was only earned in the current year, was not associated with your job and you did not have a profit motive in earning the income.

It depends. It doesn't matter if you paid your mortgage off, if you have enough itemized deductions, you can claim property taxes on Schedule A.  For more information refer to the TurboTax Help articles What Are Personal Property Taxes?, Claiming Property Taxes on Your Tax Return, and Is Your Car Registration Deductible?