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April 8, 2025
8:40 AM
DMERTZ : That was not my contribution nor income but the previous persons info. I was simply acknowledging the exact same experience. Noted as to the Solo 401k contributions not being a business ex...
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DMERTZ : That was not my contribution nor income but the previous persons info. I was simply acknowledging the exact same experience. Noted as to the Solo 401k contributions not being a business expense. However can you explain why when walking through step by step in Turbo Tax and entering Solo 401k plan contributions, exactly as you have indicated; the QBI deduction goes down and there is NO reduction in tax liability in the TT counter at the top of the program?
April 8, 2025
8:40 AM
If you are using the online version, then you will just need to log back into your account.
If you are using the desktop version, you will need to launch TurboTax again and then open the file t...
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If you are using the online version, then you will just need to log back into your account.
If you are using the desktop version, you will need to launch TurboTax again and then open the file that you were working on.
April 8, 2025
8:40 AM
Found the fix to remove the 0 in the box for Form 7205 in Home and Business Desktop. Form 7205 is under "Any Energy Efficient Commercial Buildings?" within Vehicle Summary. Ensure you DO NOT choose S...
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Found the fix to remove the 0 in the box for Form 7205 in Home and Business Desktop. Form 7205 is under "Any Energy Efficient Commercial Buildings?" within Vehicle Summary. Ensure you DO NOT choose Standard Deduction but Do it myself within Business and Income.
April 8, 2025
8:39 AM
First, the only thing that matters is the coverage you had on the first day of the month, no matter what you did later in the month.
So, when you made contributions to your HSA in 2023, you wer...
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First, the only thing that matters is the coverage you had on the first day of the month, no matter what you did later in the month.
So, when you made contributions to your HSA in 2023, you were entitled to use the full annual HSA contribution limit, even if a few days later, you changed coverage.
Since I don't know how much you contributed in 2023 nor what your HDHP coverage was in 2023, I can't tell you why you have a 5329. The 5329 reports penalties on a variety of things, not just on HSAs.
You used the "last-month" rule in 2023. This rules stipulates that whatever coverage you have on December 1, 202x, if the coverage for the whole year, without regard to how many months you actually had coverage.
If you don't recall choosing to use the "last-month" rule, it's because TurboTax does it for everyone automatically. The catch is that when you use the "last-month" rule, you have to maintain HDHP coverage for the next year. You obviously did not.
So TurboTax is going to ask a series of questions that most taxpayers never see, because it needs to calculate what your allowed contribution limit would have been if you had not used the "last-month" rule. For many taxpayers (and I suspect for you), the result will be no extra tax.
It is true that you should not be receiving credit for the contributions in 2024, but I don't know enough about your situation to know why you think you are getting credit in 2024.
To know better, tell me:
1. How much did you contribute (you and your employer anyone else) in 2024?
2. What type of HDHP coverage did you have on December 1, 2023?
3. Why do you think you are getting "credit" for your 2023 contributions in 2024?
4. Please do not remove any HSA stuff from your 2024 return until we understand your situation better.
April 8, 2025
8:39 AM
The post above suggest that you post it in the city field. Will this all fit in that field? "If you reside in a foreign country at the time of filing, enter the city, province or state, and country...
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The post above suggest that you post it in the city field. Will this all fit in that field? "If you reside in a foreign country at the time of filing, enter the city, province or state, and country in the city field."
April 8, 2025
8:39 AM
As you walk through the vehicle expense section, you will be asked if you own the car, lease the car or if the vehicle is not yours. Select the vehicle is not yours. This will allow you to claim ex...
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As you walk through the vehicle expense section, you will be asked if you own the car, lease the car or if the vehicle is not yours. Select the vehicle is not yours. This will allow you to claim expenses you actually incurred for the vehicle. Then if you are paying rental costs for the vehicle, you can select Rental Expenses under Other Common Business Expenses to enter the amount you are paying to rent the vehicle.
April 8, 2025
8:38 AM
April 8, 2025
8:38 AM
You may have inadvertently indicated that you have a foreign account while proceeding through the program. Add/Delete Foreign Income: Open your return (if not already open). Enter "foreign inc...
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You may have inadvertently indicated that you have a foreign account while proceeding through the program. Add/Delete Foreign Income: Open your return (if not already open). Enter "foreign income" in the Search box. Click on "jump to foreign income" link. On the "Did You Make Any Money Outside the United States?" landing page, Answer "Yes" if you did or "No" if you did not. Here's the general procedure for viewing a list of all the forms in your return and deleting unwanted forms, schedules, and worksheets in TurboTax Online: Open or continue your return. On Tax Home, select Start, Continue, or Pick up where you left off to enter your return. In the left menu, select Tax Tools and then Tools. In the pop-up window Tool Center, choose Delete a form. Select Delete next to the form, schedule, and worksheet in the list and follow the instructions TurboTax FAQ: How do I view and delete forms in TurboTax Online? TurboTax FAQ: How do I delete a tax form in TurboTax Desktop?
April 8, 2025
8:38 AM
Turbo shows taxes paid as $19,906 and actual taxes paid is $26,202
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April 8, 2025
8:36 AM
computer power went off now is back on..
need to continue my turbotax 2024
how to get back to the session?
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April 8, 2025
8:36 AM
Is the right taxable amount on line 4b? If the same amount is on 4a and 4b it doesn't print the 4a amount. The IRS doesn't want it filled out.
April 8, 2025
8:35 AM
I learned from the business owner from whom my wife receives her 1099 NEC that her tax preparer screwed up the NEC. Instead of putting the business name and EIN, the preparer put the woman's name and...
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I learned from the business owner from whom my wife receives her 1099 NEC that her tax preparer screwed up the NEC. Instead of putting the business name and EIN, the preparer put the woman's name and SSN. Hence, that is what the NEC reflects. The question I now have is: Should I enter the payer's actual EIN and business name rather than what the NEC reflects? I suspect that may remedy the situation. However, I also believe the IRS will be puzzled when the NECs they receive on their end from the actual payer reflect her SSN and name.
April 8, 2025
8:35 AM
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April 8, 2025
8:35 AM
1 Cheer
Enter any Federal/Local/State tax payments made into the TurboTax program and it will be routed to the correct tax form. See image below.
Add/Edit/Delete Federal/State/Local Tax Payments:
...
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Enter any Federal/Local/State tax payments made into the TurboTax program and it will be routed to the correct tax form. See image below.
Add/Edit/Delete Federal/State/Local Tax Payments:
Open your return (if not already open).
Enter "state tax payments" in the Search box.
Click on "jump to state tax payments" link.
Enter you Estimates and Other Income Taxes Paid information.
April 8, 2025
8:34 AM
I e-Filed my federal and New York State returns and received notice that they were accepted yesterday. Today I printed my returns and there was an "ELECTRONIC POSTMARK - CERTIFICATION OF ELECTRON...
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I e-Filed my federal and New York State returns and received notice that they were accepted yesterday. Today I printed my returns and there was an "ELECTRONIC POSTMARK - CERTIFICATION OF ELECTRONIC FILING" document for the federal return only in the .pdf file. But there was no certification of filing for the New York State return. Why not? Thank you.
April 8, 2025
8:33 AM
If you previously e-filed your California S-Corp return using TurboTax Business, the state module should have already been installed.
Two options to try:
State install/e-file update loop:...
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If you previously e-filed your California S-Corp return using TurboTax Business, the state module should have already been installed.
Two options to try:
State install/e-file update loop: State not installed after installation or TurboTax needs to update prior to e-file.
Error 190 when opening file in TurboTax Desktop.
April 8, 2025
8:33 AM
Some forms aren't available to be E-filed yet. This could be because the IRS and/or State haven't released the form to be electronically filed. Once they do release it, it might take a few days for T...
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Some forms aren't available to be E-filed yet. This could be because the IRS and/or State haven't released the form to be electronically filed. Once they do release it, it might take a few days for TurboTax to integrate it into the system.
If the form says it's Unsupported, it means that it is not supported by TurboTax, and you won't be able to file it electronically. Instead, you will have to print and mail either the form itself or the whole return.
Click on the link below and then on the blue "This Tool" link, and locate your state for when a specific return or Form will be available to be e-filed (if the form isn't supported by TurboTax you will need to file by mail):
When will my individual tax forms be available in TurboTax?
April 8, 2025
8:32 AM
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April 8, 2025
8:32 AM
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