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April 15, 2025
5:51 AM
“Today” as in April 15
April 15, 2025
5:50 AM
Topics:
April 15, 2025
5:50 AM
Everyone prepares an individual income tax return using Form 1040. Or if you are 65 or older it will print on 1040SR, which is identical except it has bigger print.
A 1040 is the tax return fo...
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Everyone prepares an individual income tax return using Form 1040. Or if you are 65 or older it will print on 1040SR, which is identical except it has bigger print.
A 1040 is the tax return form you prepare here to send to the IRS. If you start entering data in this software you are preparing a Form 1040. Please look at it so you will know what you are sending to the IRS:
PREVIEW 1040
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/preview-turbotax-online-return-filing/L77WCkvnu_US_en_US?uid=m681fkhr
To enter your retirement income, Go to Federal> Wages and Income>Retirement Plans and Social Security>IRA 401 k) Pension Plan Withdrawals to enter your 1099R.
April 15, 2025
5:49 AM
Turbo Tax does not have a copy of your W-2, but your employer may provide it.
If the W-2 is not available, here are the steps to take to get your W-2.
You can try to import it on TurboTax....
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Turbo Tax does not have a copy of your W-2, but your employer may provide it.
If the W-2 is not available, here are the steps to take to get your W-2.
You can try to import it on TurboTax. (See the process below).
Contact your employer Contact your employer to see if the W-2 has ben sent, and request a duplicate.
Go online, many employers have an online service to provide document like W-2's.
Contact the IRS: If you could not get it from your employer you can contact the IRS.
You can call toll-free at 1-800-829-1040
You can request a transcript
You must provide your
name,
address, city and state (including zip code),
Social Security Number,
phone number,
Employer’s name,
address, city and state (including zip code), and
employer's phone number
As a last resort, if you have a pay stub you ban complete a for 4852 Substitute for Form W-2
To import your W-2 you will have to have some confirming information.
How do I import or enter my W-2?
April 15, 2025
5:49 AM
I am sorry for your loss.
Yes you can and must file a 1040 if you meet the filing requirements. https://www.irs.gov/newsroom/who-needs-to-file-a-tax-return
Turbotax will walk you through ...
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I am sorry for your loss.
Yes you can and must file a 1040 if you meet the filing requirements. https://www.irs.gov/newsroom/who-needs-to-file-a-tax-return
Turbotax will walk you through it and tell you if you don't need to file or it doesn't matter. Some 1099-r are not taxable or are partially taxable (e.g. from Roth IRAs). TT will figure that out when you tell it about the distribution codes (or it will automatically know that if you import the form).
April 15, 2025
5:49 AM
In October 2023 I returned to work and told Social Security to stop sending me monthly SS Disability Insurance checks, but they didn't stop until March 2025. They then did request a refund which was...
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In October 2023 I returned to work and told Social Security to stop sending me monthly SS Disability Insurance checks, but they didn't stop until March 2025. They then did request a refund which was sent last week (early April 2025), but the check hasn't been cashed yet. For 2023 there weren't taxes due on the SSDI due to my low salary of three months (and disability payments). For 2024, with the combination of my salary and SSDI, Turbo Tax calculated I owe taxes on the SSDI. (Without including SSDI I would get a small refund.) The SS-1099-SM indicates I did receive these funds. It is too early for a corrected SS-1099-SM. I don't want to pay about $2,500 in taxes for 2024 on money I've returned. When filing for 2024, do I include the SSDI funds? A volunteer tax preparer said not to, but to later expect a letter from the IRS pointing out the discrepancy. At that time I'd have to mail back a copy of my cancelled check repaying the money to (from October 2023 to March 2025) to SS, and maybe the corrected SS-1099-SM if I am able to get one by then. Is that the right thing to do, or do I have to pay the $2,500 now and file an amended 2024 tax return with the corrected SS-1099-SM once I can get the form? (I don't know how long that might take.) (I live in a state where the tax filing deadline was extended till May 1 this year.)
Topics:
April 15, 2025
5:49 AM
TurboTax may prompt you to upgrade to Deluxe if it detects that you need forms or features not included in the Free Edition. However, if your return is simple, you should be able to use the Free Edit...
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TurboTax may prompt you to upgrade to Deluxe if it detects that you need forms or features not included in the Free Edition. However, if your return is simple, you should be able to use the Free Edition. Here’s how to downgrade:
Why TurboTax Might Charge for Deluxe
TurboTax Free Edition covers simple tax situations, such as:
W-2 income
Standard deduction
Earned Income Tax Credit (EITC)
Child Tax Credit (CTC)
Student loan interest deduction
If any forms or features that require an upgrade were inadvertently triggered., TurboTax will prompt you to switch to Deluxe.
However, you can go back before you file and downgrade:
Steps to Downgrade to TurboTax Free Edition
Open Your Return: Log into your TurboTax account and open your return.
Switch Products: In the left menu, select "Switch Products."
Select Downgrade: Choose "Downgrade" and select the Free Edition
If you have already entered information that requires Deluxe, you might need to clear and start over:
Clear and Start Over: Go to "Tax Tools" in the left menu.
Select Clear & Start Over: This will erase your current return and allow you to start fresh with the Free Edition
For more detailed guidance, you can refer to TurboTax's help article here.
April 15, 2025
5:49 AM
I am using the loophole. I reported it under the "Did my child pay for room and board with a scholarship or grant?" question. So in this situation, they made $5665 in W2 income from a summer job an...
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I am using the loophole. I reported it under the "Did my child pay for room and board with a scholarship or grant?" question. So in this situation, they made $5665 in W2 income from a summer job and $7990 was paid from a scholarship to pay off room and board. Would they need to file a federal return?
April 15, 2025
5:48 AM
disappointed that TT couldnt be filed electronically. It would not acept my wifes income for last year but did accept mine. It is a stupid question because I file as married filing joint so are incom...
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disappointed that TT couldnt be filed electronically. It would not acept my wifes income for last year but did accept mine. It is a stupid question because I file as married filing joint so are income is one and the same. Is there a fix for this or do I need to file by mail?
April 15, 2025
5:48 AM
The deadline to file a 2021 return for a refund is today, April 15, 2025. The due date for filing an original return to claim a refund is three years from the return's original due date. Filing a...
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The deadline to file a 2021 return for a refund is today, April 15, 2025. The due date for filing an original return to claim a refund is three years from the return's original due date. Filing an automatic 6-month extension does not extend the refund expiration date. The reference to "3 years before you filed the claim plus any extension of time you had to file you return" above is related to the amount of refund you can claim, not the deadline to claim the refund. You and the IRS can agree in writing to extend the deadline, but this usually happens if you're being audited for a return you actually filed and the IRS needs more time to complete the audit.
April 15, 2025
5:48 AM
If you're using Turbo Tax software. This video helps you find the form you need to fill out. I googled it for you: https://ttlc.intuit.com/turbotax-support/en-us/help-article/internal-revenue-serv...
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If you're using Turbo Tax software. This video helps you find the form you need to fill out. I googled it for you: https://ttlc.intuit.com/turbotax-support/en-us/help-article/internal-revenue-service/file-irs-extension-form-4868-turbotax-online/L2rDBZJtx_US_en_US?uid=m9ihu2xi
April 15, 2025
5:48 AM
MY DEPENDENT HAD A JOB
If your dependent has a W-2 for his after-school job, summer job, etc. you do not include the information on your own return. You can still claim your child as a dependent on...
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MY DEPENDENT HAD A JOB
If your dependent has a W-2 for his after-school job, summer job, etc. you do not include the information on your own return. You can still claim your child as a dependent on your own return. He/she can file his own return for a refund of some of his withheld wages from boxes 2 or 17 (he won’t get back anything for Social Security or Medicare), but MUST indicate on it that he can be claimed as a dependent on someone else’s return. (Supervise this closely or prepare it for him!)
If your dependent’s earnings were over $400 and were reported on a 1099Misc or 1099NEC then he must file a return and pay self-employment tax for Social Security and Medicare.
You might also want to use free software from the IRS Free File versions:
https://apps.irs.gov/app/freeFile/
April 15, 2025
5:48 AM
1 Cheer
For future reference - You can get an automatic extension from the IRS if you make an extension payment on the IRS website for Direct Pay on or before the due date of the federal tax return - https:/...
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For future reference - You can get an automatic extension from the IRS if you make an extension payment on the IRS website for Direct Pay on or before the due date of the federal tax return - https://directpay.irs.gov/directpay/payment?execution=e1s1
April 15, 2025
5:47 AM
It’s not letting me continue even though everything you said is blank
April 15, 2025
5:47 AM
When you use online TurboTax software you get one return per fee.
Each return needs its own account and user ID. If you use the same account and user ID for a second return, the second one ov...
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When you use online TurboTax software you get one return per fee.
Each return needs its own account and user ID. If you use the same account and user ID for a second return, the second one overwrites the first return and it is lost forever.
https://ttlc.intuit.com/community/using-turbotax/help/how-do-i-start-another-return-in-turbotax-online/00/25596
April 15, 2025
5:47 AM
1 Cheer
This is a user-entered value that is added to the net profit calculated on Schedule C. It seems the when asked for any adjustments that you entered your actual net profit. Delete the entry.
April 15, 2025
5:47 AM
I suggest you run Federal Review
Located under Federal on the left sidebar.
This will review what you've posted so far, and identify problem areas.
You can enter corrections directly from...
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I suggest you run Federal Review
Located under Federal on the left sidebar.
This will review what you've posted so far, and identify problem areas.
You can enter corrections directly from fere.
April 15, 2025
5:46 AM
If you never issue stock, then check your Articles of Incorporation. I think corporations have to issue stock (like LLCs issue "units") when created. It may not change and may not really matter, but ...
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If you never issue stock, then check your Articles of Incorporation. I think corporations have to issue stock (like LLCs issue "units") when created. It may not change and may not really matter, but the incorporators should own a share or a million shares or something.
April 15, 2025
5:46 AM
The only delivery date that would be posted on turbo tax. Literally the end of the timeline where it shows the date for your funds to be delivered. There is no date but rather it just says “delivery ...
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The only delivery date that would be posted on turbo tax. Literally the end of the timeline where it shows the date for your funds to be delivered. There is no date but rather it just says “delivery date” not an actual date like everyone else.
April 15, 2025
5:46 AM
Thx ok so I see now how 60% can arise. So what if the spouse filing separately enters the same numbers? Does that lead to another 60%, yielding 120% of mortgage interest getting used?