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April 7, 2025
12:17 PM
I live in NY. I work in NJ. My New Jersey W-2 has the FLI and UI/WF/SWF in some of the state boxes (17 & 19) where they don't belong. One of the other posts said to move these items to Box 14 O...
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I live in NY. I work in NJ. My New Jersey W-2 has the FLI and UI/WF/SWF in some of the state boxes (17 & 19) where they don't belong. One of the other posts said to move these items to Box 14 Other where my retirement 414H is. I did that and now my New York return can't be filed electronically. What should I do to fix this so both states accept their returns? Or can I leave these 2 items off the W2?
April 7, 2025
12:16 PM
1 Cheer
You built an ADU and are renting it out. You are filling out the Sch E for your rental income and expenses. You built the ADU so all of the expenses to build it are added together to create the basis...
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You built an ADU and are renting it out. You are filling out the Sch E for your rental income and expenses. You built the ADU so all of the expenses to build it are added together to create the basis for your new asset. It won't have a land value. You will just be depreciating the asset with the lower of fair market value or what you paid to build it.
It is a rental unit and will be depreciated over 27.5 years. Enter the ADU as an asset. Enter furnishings as an asset to depreciate as well. Appliances are an asset to be entered. They can be part of the basis but you will replace them sooner so I prefer them as a separate asset from the ADU.
Follow these steps:
Open to federal income
Select rental
Rental and Royalty summary
select the property and Edit
Summary of your rental shows
Locate the asset/ depreciation section
Edit/Update
$2500 of items or less, select no to get to the house and get it added. You can come back later and say yes.
Make improvements- select no for now. Again, you can come back later and say yes.
Select to add an asset
Enter the house as an asset
select add asset
Enter any other assets/ improvements
done
April 7, 2025
12:16 PM
To clarify, what is the code in box 7 of your Form 1099-R?
If you had the Roth IRA for 5 years then your distributions should be Qualified Distributions and tax-free. Your Form 1099-R should ha...
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To clarify, what is the code in box 7 of your Form 1099-R?
If you had the Roth IRA for 5 years then your distributions should be Qualified Distributions and tax-free. Your Form 1099-R should have code T or Q. Please check your Form 1040 line 4b for the taxable amount.
To preview Form 1040 in TurboTax Online:
Click on "Tax Tools" in the left menu
Click "Tools"
Click "View Tax Summary" in the Tool Center window
Click on "Preview my 1040" on the left
April 7, 2025
12:15 PM
It depends. If you do not have any income on your Schedule C for self employment then you may not have a concern. The following questions will come up for a 1099-MISC (not Form 1099-NEC) when it is ...
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It depends. If you do not have any income on your Schedule C for self employment then you may not have a concern. The following questions will come up for a 1099-MISC (not Form 1099-NEC) when it is entered if the income is in Box 3. For Paid Family Leave it's important to answer the question(s) 'No'. It may depend which box the income is in (box 3 would be the normal place for this type of income).
Open your TurboTax Online/Mobile or TurboTax Desktop tax return
Search (upper right) > type 1099misc > click the Jump to... link
Begin your entry of the 1099-MISC.
Be sure to select No this did NOT involve work and No it did not involve an intent to earn money
Continue to complete this section.
@water-fire
April 7, 2025
12:15 PM
We cashed out a Traditional IRA this year. The amount invested was $10,000 post tax, filed form 8606, interest of $976. I am over 65 and Turbo Tax is saying I owe taxes on the full amount. I should o...
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We cashed out a Traditional IRA this year. The amount invested was $10,000 post tax, filed form 8606, interest of $976. I am over 65 and Turbo Tax is saying I owe taxes on the full amount. I should only owe on the interest amount as I paid taxes on the original investment. Plus, it appears to be charging a 30% penalty. Help!
April 7, 2025
12:15 PM
If you are referring to the question in the Review where TurboTax wants to know if you had a Self-only or Family policy, then you can answer "Family" just as a workaround. It won't matter since you a...
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If you are referring to the question in the Review where TurboTax wants to know if you had a Self-only or Family policy, then you can answer "Family" just as a workaround. It won't matter since you already told TurboTax that you did not have any HDHP coverage in 2024, so line 3 and the subsequent lines will be correct.
The only reason you have to attach the 8889 this year is because you spent money out of the HSA in 2024 and got the 1099-SA. For your 2025 return, I don't imagine you will have anything to do with the HSA or form 8889.
April 7, 2025
12:15 PM
2 Cheers
I called about 2 weeks ago and they told me everything looks good no notices or holds and to just wait it out.
April 7, 2025
12:15 PM
Hi Dana, I followed your advice and entered the 1099-R I received from broker without changing anything. clicked continued , entered 0 at Roth IRA contribution, then chose "I had conversion ...
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Hi Dana, I followed your advice and entered the 1099-R I received from broker without changing anything. clicked continued , entered 0 at Roth IRA contribution, then chose "I had conversion from Traditional IRA" entered 2020, and 2021 nondeductible contribution $6000 each, and was able to see the tax on $7000 was removed. then the page took me to if I "made excess Roth IRA contribution for Prior Years". Do I enter the 2024 $7000 excess contribution here? Does "Prior Years" include 2024, or the years before 2024? Thank you for your help!
April 7, 2025
12:15 PM
Thanks for replying. The reason is that I am waiting for Voided1095-A and looks like I won't get it before the Tax deadline. Is it still OK not to file for extension?
April 7, 2025
12:14 PM
Topics:
April 7, 2025
12:14 PM
You can deduct your mortgage interest if you itemize deductions, and meet the conditions listed here.
To report mortgage interest on your return:
Type 1098 in the search box, select the Jump ...
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You can deduct your mortgage interest if you itemize deductions, and meet the conditions listed here.
To report mortgage interest on your return:
Type 1098 in the search box, select the Jump to 1098
Answer Yes on the screen Did you pay any home loans in 2024?
April 7, 2025
12:14 PM
When I login there are no options except to start my 2024 tax return. When I go to my intuit account and I look at documents there are no Comp completed 2024 return returns. It is as if I never compl...
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When I login there are no options except to start my 2024 tax return. When I go to my intuit account and I look at documents there are no Comp completed 2024 return returns. It is as if I never completed my tax returns yet I have emails Confirming my completed tax return my payments and everything. It is as if my login is wrong though I’m using the same email address that I have for my 2024 receipts from this February
April 7, 2025
12:12 PM
1 Cheer
If you did not have any type of other income or are not filing a joint return, then you would not need to file a return to report this as you are well under the filing threshold. If you are claiming...
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If you did not have any type of other income or are not filing a joint return, then you would not need to file a return to report this as you are well under the filing threshold. If you are claiming a refund of taxes withheld, then you would need to get the employer EIN and enter this as a W-2 marking the box that says Didn't get a W-2 (manually calculate my earnings)
April 7, 2025
12:12 PM
Did you call them on the phone like other people did? Or you just waited 2.5 months and they finally processed it?
April 7, 2025
12:11 PM
Exit the California return and click on State taxes, and Continue. At the screen Your State Return(s), there should be a button at the bottom, "Get another state". Click on the button and follow the ...
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Exit the California return and click on State taxes, and Continue. At the screen Your State Return(s), there should be a button at the bottom, "Get another state". Click on the button and follow the instructions.
If you use TurboTax Desktop, you can file five federal returns with up to three state returns each. No more than five Intuit accounts and five corresponding federal returns (for example, for a family of five) may be created, purchased, and filed using any one email address.
April 7, 2025
12:11 PM
How do I correct an asset entry worksheet
April 7, 2025
12:11 PM
TT seems to be ignoring safe harbor. I paid over 110% of 23 tax liability amount in 24, between withholding and estimates, and TT 24 is assessing me underpayments, with penalty and interest. how can ...
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TT seems to be ignoring safe harbor. I paid over 110% of 23 tax liability amount in 24, between withholding and estimates, and TT 24 is assessing me underpayments, with penalty and interest. how can i fix this?
April 7, 2025
12:11 PM
The home office has to be associated with a particular business. Is it possible that you have more than one business created in TurboTax, one of which has no profit?
April 7, 2025
12:10 PM
Go to Federal> Deductions and Credits> Your Home to enter mortgage interest, property taxes, and mortgage insurance that you paid in 2024 You should have a 1098 from your mortgage lender that shows...
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Go to Federal> Deductions and Credits> Your Home to enter mortgage interest, property taxes, and mortgage insurance that you paid in 2024 You should have a 1098 from your mortgage lender that shows this information. Lenders send these in January/early February or you may be able to import the 1098 from the lender’s website.
April 7, 2025
12:10 PM
To view what you were charged for:
Gog into TurboTax
On the left sidebar toward the bottom
Click Intuit Account
A screen with boxes will show up
From the left sidebar
Select Pr...
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To view what you were charged for:
Gog into TurboTax
On the left sidebar toward the bottom
Click Intuit Account
A screen with boxes will show up
From the left sidebar
Select Products and Billing
For billing issues you can contact the TurboTax Support Phone Number