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Company 1a     1b 2a 3   7 USA MF RIC invested in foreign cntry companies Total Ord Div Div Dist Non-qual Div Qual Div Total CG Nondiv dist Tot Foreign Income For Tax TRP ... See more...
Company 1a     1b 2a 3   7 USA MF RIC invested in foreign cntry companies Total Ord Div Div Dist Non-qual Div Qual Div Total CG Nondiv dist Tot Foreign Income For Tax TRP Intl Stock                                  691         160               71           531          290                                           601        202 TRP New Asia                                  736         367             239           368                                             607        323 equals                               1,427         527             310           900          290                                        1,209        525    Div Dist + Qual Div             Non-qual + Qual Divs    Total Ord Div + Total CG = "Gross" Foreign  Income         1427        +     290     =      1,717   FTC section, Foreign Income in the Interview for line 1a on F1116: use Gross Foreign Inc, which includes CG, 1,717, or only the Total Foreign Inc., 1,209, on which Foreign Tax was paid?
Can anyone help me make sense of question 15-17 on form 8828 (revised Nov. 2024). I was told that if MAGI is less than adjusted qualifying income that you do not owe a recapture tax. However, it does... See more...
Can anyone help me make sense of question 15-17 on form 8828 (revised Nov. 2024). I was told that if MAGI is less than adjusted qualifying income that you do not owe a recapture tax. However, it doesnt appear that way on the IRS form. On line 17 they are instructing me to subract the two and if zero or less than you do not owe?? 
Where did you get that code number?   I don’t see it listed on the IRS.  Here are the IRS instructions for Schedule C.  Business codes start on page 19.   If you can't find a code that applies, you c... See more...
Where did you get that code number?   I don’t see it listed on the IRS.  Here are the IRS instructions for Schedule C.  Business codes start on page 19.   If you can't find a code that applies, you can enter 999999.  The code is not used to process your return.    http://www.irs.gov/pub/irs-pdf/i1040sc.pdf
How do I balance or apply retained earnings for a s corp
I haven’t looked at the RMD questions in my program for a while.   I think it’s saying if you did take out from more than 1 IRA not to combine each IRA 1099R in the RMD question.   It doesn’t know or... See more...
I haven’t looked at the RMD questions in my program for a while.   I think it’s saying if you did take out from more than 1 IRA not to combine each IRA 1099R in the RMD question.   It doesn’t know or need to know you have another IRA.  You only have one 1099R.   Just answer yes you took the full RMD and enter the total of the 1099R box 1 even if it’s more than your total combined RMD.    The 1099R RMD questions were fixed on Feb 20, 2025!  If you are using the Desktop program be sure to update your program.  Go back though and revisit your 1099R entries. @dmertz 
I have the same issue, as I have 2 IRA's with RMD's. I usually take all my distributions, including my RMD's out of one account. This means I don't have a distribution AT ALL from one of my IRA's. So... See more...
I have the same issue, as I have 2 IRA's with RMD's. I usually take all my distributions, including my RMD's out of one account. This means I don't have a distribution AT ALL from one of my IRA's. So I'm always in a quandary as to how to report it in Turbo Tax. The directions say NOT to combine the the amounts on multiple RMD's on one 1099-R. But if I have a RMD requirement for an IRA but take my distributions from a different IRA, I don't get a 1099-R for that IRA. So how to report the RMD when there is $0 distribution from one IRA.   Example: I have 2 IRA's that each have an RMD. IRA A has a RMD of $250 and IRA B has a RMD of $400..  I don't take any distribution from IRA A, but I take a $6000 distribution from IRA B. Included in that distribution from IRA B is the $250 RMD for IRA A, $400 RMD for IRA B, some QCD's, and cash distribution.  Where and how do I report the $250 distribution for IRA A that I took as part of my distribution from IRA B? There needs to be some better questions asked within the program to address this type of situation.  I agree that this is a very complicated set of steps for this situation, and I, too, am very frustrated with this.  I have also been using Turbo-Tax for close to a quarter century and have been frustrated when  procedures that I have found very useful and helpful, are changed or completely removed, (with no apparent reason why.)
This is a follow on from my original post , but it took me a while to respond so think it fell off the radar. https://ttlc.intuit.com/community/retirement/discussion/re-what-are-the-correct-steps-to... See more...
This is a follow on from my original post , but it took me a while to respond so think it fell off the radar. https://ttlc.intuit.com/community/retirement/discussion/re-what-are-the-correct-steps-to-amend-my-return-to-properly-account-for-backdooring-a-traditional/01/3683614/highlight/false#M250993 To summarize: I suspected we made a mistake when filing our 2023 return as it relates to backdooring our traditional into a Roth IRA, and when I went to try and file an amended return for 2023 I don’t believe the issue was corrected: the full distribution amount from 4a was in 4b, which I believe should have been blank (there were no earning before backdooring). The advice I received was to file a Form 8606 showing a non-deductible contribution unless I took a deduction for the traditional IRA contribution which would offset the tax. I wanted to confirm that we did not take a deduction, so I reviewed my 2023 return on TurboTax and there was no Schedule 1 included, so I believe we did not take a deduction. We’ve also never had a balance in either of our Traditional IRAs. I just want to confirm that I’ve reviewed all the correct steps and now should fill our the Form 8606?
I agree with all the previous posts and I will be looking for a new text software to do my 2025 taxes. If I have to find a new way to keep track of my charitable donations a muzzle start now is wait ... See more...
I agree with all the previous posts and I will be looking for a new text software to do my 2025 taxes. If I have to find a new way to keep track of my charitable donations a muzzle start now is wait till next year.
In general, NRA's are taxed only on US-sourced income, using form 1040-NR.  401(k) withdrawals are considered US-sourced, because you were working in the US when the contributions were made.  That me... See more...
In general, NRA's are taxed only on US-sourced income, using form 1040-NR.  401(k) withdrawals are considered US-sourced, because you were working in the US when the contributions were made.  That means you should expect your withdrawals of Roth-401(k) funds to be non-taxed and withdrawals of pre-tax 401(k) withdrawals will be taxed by the US even if you are an NRA.   Whether any of these withdrawals are taxed in your home country will depend on their laws.    Yes, there is mandatory 30% withholding on your taxable 401k withdrawal if you are an NRA, this is to encourage you to file your tax return, and you will get a refund if the actual tax is less than 30%.    I'm less clear about IRAs, but they seem to be considered taxable as FDAP income (Fixed, determinable, annual, or periodical income).  Same 30% rule applies.   Of course, any tax treaty may modify these general rules, so it is important to know the country you are asking about.  
@user17577099998   What year are you trying to print?  There have been problems with some prior years like 2014.   And this one from April 2020 on printing from Mac https://ttlc.intuit.com/community... See more...
@user17577099998   What year are you trying to print?  There have been problems with some prior years like 2014.   And this one from April 2020 on printing from Mac https://ttlc.intuit.com/community/taxes/discussion/unable-to-print-preview-or-export-to-pdf-from-tt-premier-2019-using-macos-catalina-on-2-computers/00/1092909
Does Turbotax 2025 require the AI chip or will it run with Windows 11 without the AI chip?
Mac computer and message comes up cannot connect to Intuits secure print service
@JohnQT wrote: I'm sure that they would do away with the TT Desktop product altogether if they thought they could.   Yeah, they eventually will. It won't be this year nor next nor the year afte... See more...
@JohnQT wrote: I'm sure that they would do away with the TT Desktop product altogether if they thought they could.   Yeah, they eventually will. It won't be this year nor next nor the year after (probably) but it is going to be a distant memory in future years.   Desktop sales have been declining year-over-year for quite some time and Intuit, IIRC, realizes gross revenue of less than $500 million from desktop sales. That may not sound like chump change initially to most people but then Intuit's revenue was something like $19 billion in the last 12-month reporting period (so it IS sort of chump change when you consider the margin has got to be a lot lower than the online products).    I'm sure upper-level management has this planned out years in advance and may even have some sort of tentative "sunset date" for the desktop products. No idea when but I am 100% certain it will happen.
"In fact, I'm running Windows 10 with a Windows 11 retail key."   I've gone the other way around and applied a Windows 7 Home Premium key to a Windows 10 install (Home, not IoT Enterprise) which wo... See more...
"In fact, I'm running Windows 10 with a Windows 11 retail key."   I've gone the other way around and applied a Windows 7 Home Premium key to a Windows 10 install (Home, not IoT Enterprise) which worked just fine.  You'd think that M$ would expect you to pay for such an upgrade, but at this point I think they are happy to just retain customers...   The whole point of me moving my Intuit apps to a Windows 10 VM is to prepare for eventually wiping my physical OS disk and installing a Linux distro.  That will happen if/when M$ somehow forces me to "upgrade" my PC itself to Windows 11.  AIN'T GONNA HAPPEN.
Since the California State form update has already been forcibly applied to TurboTax in my VM, I figured that I might as well let the Updater have its way with the program itself.  As long as I don't... See more...
Since the California State form update has already been forcibly applied to TurboTax in my VM, I figured that I might as well let the Updater have its way with the program itself.  As long as I don't Open or Save any of my previously filed returns they "should be" safe from unwanted changes...   So after letting the Updater complete it's "critical" Program Update, lo and behold, I'm presented with this dialog warning me that "Windows 10 support ends in October" (see attached screenshot below).   Why does Intuit assume that anyone would open last year's program for any reason except maybe to amend a return (or just geeky curiosity like me)?  Seems like a lot of effort just to post a sign where most folks won't see it.  I hope they didn't pay their programmers too much for this "feature"...   IMHO the chances of Intuit's programmers putting in any effort to remove this dialog are just about zero.  Anyone here waiting for Intuit to rollback this no-Windows-10-support policy might as well take a deep breath and stop hoping.  😢  
Hi, I have a question about a new business client who is a 50% partner in two different partnerships, and one of the partnerships transferred ownership of a property to the other partnership in 2024.... See more...
Hi, I have a question about a new business client who is a 50% partner in two different partnerships, and one of the partnerships transferred ownership of a property to the other partnership in 2024.   We are working on filing his returns, and the client is hoping to minimize any capital gains tax or other taxes that would have to be paid in the transfer. I am unsure what is the best way to show this transfer, which the client described as a sale (although the partnerships did not exchange any money), on these partnerships' tax returns, as well as how the depreciation on the property should work, which has already depreciated for 9 years under the initial partnership.
@user17577068217  No one can send you it.  You have to log into your account and download it again.  Save the PDF https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files... See more...
@user17577068217  No one can send you it.  You have to log into your account and download it again.  Save the PDF https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US   If you used the Desktop CD/Download the only copy is on that computer.   If you used the Online version and can’t find your account you may have another account.   How to view all your accounts https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/many-intuit-accounts-turbotax/L9aVfKS1Z_US_en_US?uid=ll5g6zcx
Excellent points. If you're right and someone finds out what needs to change in the registry, I'll be fine. My computer itself is fully capable of running Windows 11 (though I'm not -- I hate it).   ... See more...
Excellent points. If you're right and someone finds out what needs to change in the registry, I'll be fine. My computer itself is fully capable of running Windows 11 (though I'm not -- I hate it).    In fact, it's possible that TT means to say that you must have a computer that's able to run Windows 11, but not actually running it. That would be the best-case scenario for me. In fact, I'm running Windows 10 with a Windows 11 retail key. I just pulled the disk on my old Windows 10 computer, plugged it into  the new computer. It booted right up with all my icons, programs, and data intact. I bought the Windows 11 Key to make sure Microsoft didn't come after me for transferring an OEM Windows license. 
I remembered that I can disconnect the virtual Ethernet cable on the virtual machine.  So I did that and tried opening TurboTax again.  It then presented a new dialog telling me that "To get software... See more...
I remembered that I can disconnect the virtual Ethernet cable on the virtual machine.  So I did that and tried opening TurboTax again.  It then presented a new dialog telling me that "To get software updates, you need to connect to the Internet," with buttons that say "OK, I Am Connected" and "Cancel".  Clicking Cancel takes me to the previous dialog that shows with the virtual Ethernet cable connected.  So instead of closing that dialog (which terminates TurboTax completely) I chose "Continue Updating TurboTax".   Unfortunately the updater had already downloaded the available updates.  It went ahead and applied the California State form update, but the Program Update requires elevated privileges.  I canceled that UAC dialog when it appeared, TurboTax put up a failure dialog, and I was finally able to get into the program and change the Update Preferences back to "Ask me before getting updates".   "Spaghetti code"  🍝