All Posts

It seems like TurboTax cannot handle different depreciation percentages over years. So it calculates the wrong depreciation when this is done.    You can read about it in this thread: https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-incorrect-rental-depreciation-calculation-by-tt/01/3640000#M124735   Because turbotax calculates the wrong values, I am forced to override. I need to fix the depreciation amount. 

I think I figured out where your $1 discrepancy might be from.  TurboTax rounds up (or down) EACH month from your 1095-A entries to arrive at the figures it plops into form 8962.  This rounding caused my calculations and TurboTax's calculations to be different by $5 when I was peering into the math of the Medical Expenses Worksheet and the value TT generated for that line 2b value.  In your case, I'm guessing, but it could be that the rounding by TT creates a $1 difference for you if your method of calculating involved no rounding and used actuals from your 1095-A.

@dahnb2000   What is false?  There has always been a fee to efile a state return.   I posted above it is $25 to efile a state return from the Desktop program.  It used to be $20 before March 1 then goes to 25.   If you are on the Advantage auto renew plan it is $5 less.   Or you can print and mail state for free.  Im in California too.  Oh if you buy the program from Costco or Sam’s you get a $10 rebate which is automatically applied when you pay.   

TurboTax may not be letting you input your childcare expenses for the dependent care credit due to several common issues: Income Requirement: You must enter income earned from working before you can claim the childcare credit. If you are filing jointly, both spouses must show income or indicate that one or both were students or disabled Eligible Dependents: Ensure your dependents meet the eligibility criteria. The dependent must be under age 13 or physically or mentally unable to care for themselves

@MonikaK1 clearing cookies is not an option because I'm using the desktop software. Is there no way you can find the missing options on this page which is finalizing the state tax returns for new york after entering the bank information.

@DanaB27 To confirm, here is the scenario that I'm running into (a little bit more complicated that expressed above):   In 2024, I contributed to Roth 401(k) plans at two different companies, which resulted in an over-contribution across both accounts. After leaving the first company, I rolled over its Roth 401(k) into a Roth IRA around October 2024. I realized I had over-contributed to the Roth 401(k) accounts on March 18, 2025. I attempted to correct this by withdrawing the excess from the second company's 401(k), but I had missed the second company's March 1, 2025 correction deadline, so that option was no longer available. As a result, I requested a return of the excess contribution from the Roth IRA (which had received the rollover from the first company's Roth 401(k)). On April 4, 2025, the Roth IRA custodian distributed the excess contribution along with associated earnings — including gains from both the original Roth 401(k) account and subsequent gains within the Roth IRA.   Based on the above new information, do your answers still hold regarding not having to reporting anything in my 2024 return?

There may be several reasons that your total Federal tax liability doesn't match the tax tables.   A blended tax rate, also known as the effective tax rate, is derived from a number of factors. The effective tax rate for individuals is the average rate at which their earned income, such as wages, and unearned income, such as stock dividends, are taxed. If you received income from a variety of things like stocks and bonds, interest, dividends, or self-employment, they may all play a role in determining your blended tax rate. See this thread for another discussion of this issue.   For Federal income taxes, the tax rate brackets for 2024 are 10%, 12%, 22%, 24%, 32%, 35%, and 37%. To see how the tax brackets apply to you for this year, and for a tool to determine your marginal (the highest part of your income) tax rate, see here.   Also, note that taxes are often calculated using a different method than the tax tables. For example, if you have capital gains, the tax on those is calculated at the capital gain rate for your income level. If you are self-employed, you may have self-employment taxes in addition to income taxes.   See this help article for more information.   You can preview your return before filing to find out how your taxes were calculated. See here for details.     

You can change the amount of refund applied to another year or other payments by going to Deductions & Credits, Other Income Taxes. Locate the item under Other Income Taxes for the change you want to make. There are line items you can change for payments with extension, refunds applied, and other payments.   It happens sometimes, when a taxpayer designates a refund to be applied to the following year, that the entire amount doesn't come over to the next year - either because the IRS made a change to the return, or the IRS or another government agency took part of the refund to pay another debt, or the taxpayer amends the return. It's often safer to cover your estimated taxes either by withholding or quarterly estimated payments.   Please see this help article for more information about applying your refund to next year's taxes.  

I found it. I had to enter that the business started operating in 2024 (not when it registered in 2023). Then the option for start up costs appeared with the explanation the pertained to my situation to enter the start up costs from any time before the business began "trade". 

Now I think everything looks good ; I didn't do Step 2 of the guide.   But now,  got one more question. 1040 line 4b shows "ROLLOVER" (right next to a small amount from daily interests), would this be ok even though it's a conversion, not a rollover?

I FIGURED IT OUT!!!!   I put $0 in the Federal Withholding!! It should be left BLANK If there is even a $0 in the Federal Withholding, it will REQUIRE an EIN!! No SSN allowed! So putting a $0 figure will trigger that requirement! Even though we know $0 means- none is withheld!   Please mark this for others, I think that will fix it!! Thank you again!