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IRS requires you to establish your Required Annual Payment for the year and pay as you go. You can base your estimate on prior year's tax , or 90% of this year's tax, whichever is smaller. Each... See more...
IRS requires you to establish your Required Annual Payment for the year and pay as you go. You can base your estimate on prior year's tax , or 90% of this year's tax, whichever is smaller. Each period your withholding and estimated tax paid must be at least 25% of the estimate, even if your income is uneven, [Otherwise, you will be penalized.] This is the simplified method, default.   If your periodic withholding and estimates in 2025 are at least 100% / 4 = 25% ( 110% / 4 for certain high income taxpayers) of your 2024 tax, there will be no penalty on your 2025 tax return, regardless of any jump in income. You are protected from a sudden capital gain or Roth conversion at year end. If your estimate is based on this year's tax and turns out to be wrong you may be penalized. You can compensate by overestimating. If your estimate is based on prior year's tax, you know that when you file by April 15, which is also the first Estimated Tax payment due date.  How convenient.
Today is Easter Sunday.   Try tomorrow if you want Live help.
Is there a way that I can contact someone at TurboTax abou this? I tried clicking on the Live Help for $60.00 button on my return but nothing happened.
To access your prior year online tax returns sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/   Start the 2024 online tax return by ... See more...
To access your prior year online tax returns sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/   Start the 2024 online tax return by entering some personal information then click on Tax Home on the left side of the screen.   On the Tax Home webpage - Scroll down to the section Your tax returns & documents.  Click on the Year 2023 and Click on Download/print return (PDF) or Click on View adjusted gross income (AGI)   If you used the desktop CD/Download editions installed on your computer, the only copy of your tax data file and any PDF's will be on the computer where the return was created.  TurboTax does not store online any returns completed using the desktop editions.   Or go to this IRS website for free federal tax return transcripts - https://www.irs.gov/individuals/get-transcript For a fee of $30 you can get a complete federal tax return from the IRS by completing Form 4506 - http://www.irs.gov/pub/irs-pdf/f4506.pdf
If you received Form 1095A then it needs to be entered into the return. If you did not receive one you should indicate that in the interview.
If you are no longer legally married you need to create a new account with a new User ID when using the TurboTax online editions.  You should be filing as Single and there is no need for your former ... See more...
If you are no longer legally married you need to create a new account with a new User ID when using the TurboTax online editions.  You should be filing as Single and there is no need for your former spouse's SSN.
@MaryK4    Anything to add before I dig deep in this again? Thanks!  
Thank you for your reply. I need to re-read my question, Mary's response, and your clarification carefully and see if I get it. Thanks, again. I will be back!
To enter, change or delete a payment made with an extension request (Federal, State, Local) - Click on Federal Taxes (Personal using Home and Business) Click on Deductions and Credits Click on I'... See more...
To enter, change or delete a payment made with an extension request (Federal, State, Local) - Click on Federal Taxes (Personal using Home and Business) Click on Deductions and Credits Click on I'll choose what I work on (if shown) Scroll down to Estimates and Other Taxes Paid On Income Taxes Paid, click on the start or update button On the next screen select the type of extension payment made and click on the start or update button The federal extension payment will be shown on Schedule 3 Line 10. The amount from Schedule 3 Part II Line 15 flows to Form 1040 Line 31
@VolvoGirl  Thank you for the reply. Surely TurboTax knows that I paid the penalty via direct debit from my bank account the day I e-filed using TT? TT miscalculated the penalty by a factor of 4. ... See more...
@VolvoGirl  Thank you for the reply. Surely TurboTax knows that I paid the penalty via direct debit from my bank account the day I e-filed using TT? TT miscalculated the penalty by a factor of 4. They had me over pay four times the actual penalty which was subsequently refunded by the IRS.  
This did it!!!! Truly a lifesaver, thank you!!!
Thank you very much!!!
I can’t file my taxes. Former spouse refuses to give me her social security number. What can I do?
The IRS doesn't allow you to file an extension after April 15. In your circumstance you don't need one if you file by May 1.
You cannot change the tax year.   The current online program is for 2024 only.   Only a 2024 return can be prepared online and only a 2024 return can be e-filed.   Online preparation and e-filing... See more...
You cannot change the tax year.   The current online program is for 2024 only.   Only a 2024 return can be prepared online and only a 2024 return can be e-filed.   Online preparation and e-filing for 2021, 2022, and  2023 is permanently closed. Note:  The desktop software you need to prepare the prior year return must be installed/downloaded to a full PC or Mac.  It cannot be used on a mobile device.   To file a return for a prior tax year  If you need to prepare a return for 2021, 2022, or 2023  you can purchase and download desktop software to do it, then print, sign,  and mail the return(s) https://turbotax.intuit.com/personal-taxes/past-years-products/ You may also want to explore purchasing the software from various retailers such as Amazon, Costco, Best Buy, Walmart, Sam’s, etc.   Remember to prepare your state return as well—if you live in a state that has a state income tax.   https://ttlc.intuit.com/turbotax-support/en-us/help-article/state-taxes/contact-state-department-revenue/L9qVToi02_US_en_US?uid=m6e06um0   When you mail a tax return, you need to attach any documents showing tax withheld, such as your W-2’s or any 1099’s.  Use a mailing service that will track it, such as certified mail so you will know the IRS/state received the return.   Federal and state returns must be in separate envelopes and they are mailed to different addresses.  Read the mailing instructions that print with your tax return carefully so you mail them to the right addresses.  
ADDENDUM: In addition to the information above, if you owe Federal taxes due, be aware that time is growing short to get this issue worked out before additional penalties.   If you are due a Feder... See more...
ADDENDUM: In addition to the information above, if you owe Federal taxes due, be aware that time is growing short to get this issue worked out before additional penalties.   If you are due a Federal refund, there is not a penalty for a late Federal return.   On the other hand, if you owe Federal taxes due, you could end up with both a late filing penalty and a failure-to-pay penalty if it continues to reject and you go past the date to timely postmark a paper return.   The IRS says:   "To timely file a paper return after an electronic return was rejected, your paper return must be postmarked by the later of the due date of the return (including extensions) or 10 calendar days after the date the IRS gives notification that it has rejected your electronic return."   https://www.irs.gov/faqs/electronic-filing-e-file
I incorrectly entered the amount I pre-paid on the extension... Turbo Tax asked me in the Federal Review. How and where do I correct that?
I have a valid gain deferral on a like kind exchange (all dates are okay, etc)  But when I enter the sale of the asset under the rental and royalty section as a sold asset, it generates a gain.  Ther... See more...
I have a valid gain deferral on a like kind exchange (all dates are okay, etc)  But when I enter the sale of the asset under the rental and royalty section as a sold asset, it generates a gain.  There is no place to tell it it's a like kind exchange in this section of TurboTax.  I understand I have to enter under the sales of business assets to generate the 8824 but how do I enter no gain in the rental section of Turbo Tax?