All Posts
4 weeks ago
How do I enter a Qualified Charitable Contribution?? Prompts do not pop up indicated in program for 1099-R.
Topics:
4 weeks ago
For IRS Schedule K-1 (1065), at the screen Enter Box 20 info, select code Z Section 199A information. A value does not have to be entered.
Then click Continue.
At the screen We need some...
See more...
For IRS Schedule K-1 (1065), at the screen Enter Box 20 info, select code Z Section 199A information. A value does not have to be entered.
Then click Continue.
At the screen We need some information about your 199A income, click the box to the left of the item to be entered. An entry box will open. You may be entering:
Ordinary business income (loss) from the enterprise,
The values to be reported come from Statement A which the preparer of the K-1 would include with your K-1 income materials.
Enter these values for the qualified business income deduction to be calculated.
4 weeks ago
1 Cheer
Or...delete the whole 1099-R form and enter it manually. Lots of folks have been having problems with Picture or PDF uploads....especially with certain form address areas that aren't even needed ...
See more...
Or...delete the whole 1099-R form and enter it manually. Lots of folks have been having problems with Picture or PDF uploads....especially with certain form address areas that aren't even needed by the software. Typing in yourself is safer (yeah, just an opinion). ____________________ <Enter another way<<<Type it in myself
4 weeks ago
The last day to file is April 15th unless you file an extension, then you have until October 15th to file your return, but any tax due is still due by April 15th. No, you cannot direct your refund...
See more...
The last day to file is April 15th unless you file an extension, then you have until October 15th to file your return, but any tax due is still due by April 15th. No, you cannot direct your refund to someone else’s account
4 weeks ago
Form 2024 DR 0104AD Is Subtractions from Income Schedule. Should that income be subtracted from your Federal taxable income? If so you should go back through the state interview to properly identi...
See more...
Form 2024 DR 0104AD Is Subtractions from Income Schedule. Should that income be subtracted from your Federal taxable income? If so you should go back through the state interview to properly identify it.
4 weeks ago
I have started my 2024 tax return and when prompted transferred the info/file from 2023 into the return. Most everything seemed to transfer EXCEPT it is missing the 2023 wage income. So when i look...
See more...
I have started my 2024 tax return and when prompted transferred the info/file from 2023 into the return. Most everything seemed to transfer EXCEPT it is missing the 2023 wage income. So when i look at the Tax Summary YOY comparison, Wage Income shows $0 for 2023. My 2023 tax return is fine. Wage income is included. I have opened 2023 turbotax and updated the program. 2024 is up to date.
4 weeks ago
Using someone else's bank account for your refund is a really bad idea. The bank will refuse the deposit and send it back to the IRS. Then your refund will be delayed for weeks while the IRS issu...
See more...
Using someone else's bank account for your refund is a really bad idea. The bank will refuse the deposit and send it back to the IRS. Then your refund will be delayed for weeks while the IRS issues and mails a check to the address on your tax return.
You would be better off to just choose to have a check mailed to you when you make your choice in the FILE section.
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/deposit-tax-refund-someone-else-account/L3pAkqG74_US_en_US?uid=m6co06vs
4 weeks ago
Part III, Column C of Form 1095-A shows the APTC paid for each month.
4 weeks ago
The amount you select depends entirely on your cash flow situation. April 15 2025 is the first Estimated Payment deadline for 2025 so you applying some refund will simplify your life. @shihchu...
See more...
The amount you select depends entirely on your cash flow situation. April 15 2025 is the first Estimated Payment deadline for 2025 so you applying some refund will simplify your life. @shihchungtsai
4 weeks ago
Thanks DianeW777 for confirming that my entries are correct AmyC . Requesting and just waiting for one last confirmation: I had 2 different employers with one of them being IHSS. So, ple...
See more...
Thanks DianeW777 for confirming that my entries are correct AmyC . Requesting and just waiting for one last confirmation: I had 2 different employers with one of them being IHSS. So, please confirm my understanding if you meant that it is ok to take credit for my IHSS Box 4 (social security tax withheld), box 6 (Medicare tax withheld) and CA-SDI (Box 14) though the IHSS Income is not taxable. Thanks again.
4 weeks ago
Yes. Some users have reported difficulties importing crypto data from Kraken, especially when using API keys or CSV files. First, you may wish to contact Kraken Customer Support to see if you purchas...
See more...
Yes. Some users have reported difficulties importing crypto data from Kraken, especially when using API keys or CSV files. First, you may wish to contact Kraken Customer Support to see if you purchased Crypto through Kraken. If so, here are some possible solutions.
CSV File Upload: If the API connection isn't working, you can try uploading a CSV file of your Kraken transactions. Ensure the file format matches TurboTax's requirements, which typically include columns like purchase date, date sold, proceeds, cost basis, and currency name.
Manual Entry: If the import feature continues to fail, you might need to manually enter the transactions into TurboTax. This can be time-consuming but ensures accuracy.
Third-Party Tools: Consider using crypto tax software like TaxBit or CoinTracking to calculate gains and losses. These tools can generate reports compatible with TurboTax.
Browser Compatibility: Some users have found that switching browsers (e.g., from Edge to Chrome) resolves issues with TurboTax's import feature.
4 weeks ago
Follow the status of your MN refund in the Where's My Refund? system
Be sure to use the same information from your return:
Social Security number
Date of birth
Exact refund amount
4 weeks ago
Yes, if you received a distribution that was more than your adjusted basis, you have taxable income. In most cases, this is a long-term capital gain, which is reported on Schedule D (as a sale with n...
See more...
Yes, if you received a distribution that was more than your adjusted basis, you have taxable income. In most cases, this is a long-term capital gain, which is reported on Schedule D (as a sale with no basis).
To enter this, open your return and search on "investment sales," then use the jump-to link to go to the start of this section.
Choose "Other" and follow the prompts to enter a description (ie: Distribution in Excess of Basis), the amount and the date you received the distribution. Note the excess is calculated as of the end of the year, which would the amount from Line 16(D) less your beginning capital balance plus the loss for the year.
Continue to enter a Cost Basis of zero (because you have no remaining basis) and the date you first invested in the company.
TurboTax will show a summary page that shows how this will be reported on your return.
See IRS Pub 541 Partnership Distributions and Partnership Adjusted Basis
The loss from Box 1 is a passive loss. Any unused loss would carry forward until you have passive income to offset the loss carryover.
4 weeks ago
@jeankreisher On a 1099-INT. On all of my 1099-INT forms, box 14 it is blank (entriely blank...no spaces...just empty), and I e-filed just fine, and received my Refund in 10 days. ________...
See more...
@jeankreisher On a 1099-INT. On all of my 1099-INT forms, box 14 it is blank (entriely blank...no spaces...just empty), and I e-filed just fine, and received my Refund in 10 days. ___________ IF it continues to give you trouble...delete the entire form and enter it manually...Do Not upload a Picture or PDF....enter it all manually....<<<"Enter Another Way<<"Type it in myself"
4 weeks ago
Thank you for the information.
4 weeks ago
Federal and state refunds come from completely separate entities, There is no rule as to which one will come first or how much time there will be between their arrivals. Some states process returns...
See more...
Federal and state refunds come from completely separate entities, There is no rule as to which one will come first or how much time there will be between their arrivals. Some states process returns quickly and some are very slow.
STATE RETURN
Make sure your state return was accepted: https://turbotax.intuit.com/tax-tools/efile-status-lookup/
To track your state refund:
ttps://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_US_en_US?uid=lt447ebr
https://ttlc.intuit.com/turbotax-support/en-us/help-article/state-taxes/contact-state-department-revenue/L9qVToi02_US_en_US?uid=m6e06um0
4 weeks ago
You can delete her and then re-add her. It sounds like the box for "She is a full-time student" was not checked. Possible, the checkmark was put in the wrong box and she was marked as married inste...
See more...
You can delete her and then re-add her. It sounds like the box for "She is a full-time student" was not checked. Possible, the checkmark was put in the wrong box and she was marked as married instead of a student.
As you walk through pay close attention for the question asking if she was a full-time student. Then also be sure that you say NO she did NOT pay more than half of her own support.
4 weeks ago
You'll report this as the sale of an investment, as though you had received a 1099-B for it.
In the wages and income section of your federal return scroll down to 'Investment Income' and click...
See more...
You'll report this as the sale of an investment, as though you had received a 1099-B for it.
In the wages and income section of your federal return scroll down to 'Investment Income' and click start next to 'Stocks, Bonds, Cryptocurrency, Other' (you're the other).
Enter the sale as sale date of the date that you received the check and purchase date as the date that you were gifted the interest. Sale price is the amount that you received. Basis, or purchase price, is tricky.
If the interest was gifted to you and not purchased in any way then the basis would have transferred from the gift-giver. So whatever basis they had in the property at the time that they gave it to you transferred with the gift.
If you can't figure out what that was then you may have to go with zero.
@jmk1979
4 weeks ago
For whatever reason, TurboTax thinks that you need to file that state, even if you did not enter anything on it.
You need to delete the state, if you don't want to file it.
First make sur...
See more...
For whatever reason, TurboTax thinks that you need to file that state, even if you did not enter anything on it.
You need to delete the state, if you don't want to file it.
First make sure that the state you want to delete is not your resident state - you can't delete your state of residence. Yes, I know it sounds silly, but...
In the CD/download version of TurboTax, go to the upper left to FILE. Click on FILE and go down to Remove State Return. Click on that and remove the state you want to remove.
In the Online version of TurboTax, please see this TurboTax FAQ for instructions.
4 weeks ago
Topics: