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Have you entered all your income yet?  Make sure you are each showing income.  Check each W2, should be assigned to the right spouse.   If you have self employment income you need to have a profit to... See more...
Have you entered all your income yet?  Make sure you are each showing income.  Check each W2, should be assigned to the right spouse.   If you have self employment income you need to have a profit to qualify.
EIC: I had my Medicaid Difficulty of Care wages added in to see if we qualified for EIC, which we didn't. I want to go back, and take my income out, but when I go to Revisit the section, it merely tel... See more...
EIC: I had my Medicaid Difficulty of Care wages added in to see if we qualified for EIC, which we didn't. I want to go back, and take my income out, but when I go to Revisit the section, it merely tells me why we didn't qualify. There's no way to change the amount. Any ideas?
To report the $600 stipend you received on a 1099-NEC, follow these steps:   Open or continue your return. Navigate to 1099-NEC: Go to 1099-NEC. or use the magnifying glass at top r... See more...
To report the $600 stipend you received on a 1099-NEC, follow these steps:   Open or continue your return. Navigate to 1099-NEC: Go to 1099-NEC. or use the magnifying glass at top right of screen and search for 1099-NEC and select the Jump to link. Follow the onscreen instructions. When you’re done, we’ll ask you a few questions and help you through entering any expenses you may have so that you can reduce your taxable income.
How do I force Turbo Tax to the screen to enter Ameriprise Financial to enter the Package ID and the Document ID?
Not sure what your question is.  This may help:  You can deduct home mortgage interest on the first $750,000 ($375,000 if married filing separately) of indebtedness. you would take the information ... See more...
Not sure what your question is.  This may help:  You can deduct home mortgage interest on the first $750,000 ($375,000 if married filing separately) of indebtedness. you would take the information from your 1098 and input into the deductions (which would show on the Schedule A - Itemized deductions.  However, if you don't have enough itemized deductions TT will push you into the standard deduction.   
When I'm getting my money on my card
I've been using Turbo tax since 2018, why do I still have this issue today in 2025? Why is it still not being resolved? 
Hi George, I have a similar situation this year, and I hope you and OP do not mind for me to use this thread.   I sold some PTP units (BPYPN) in 2024. I received K-1 which shows the sell transactio... See more...
Hi George, I have a similar situation this year, and I hope you and OP do not mind for me to use this thread.   I sold some PTP units (BPYPN) in 2024. I received K-1 which shows the sell transactions but no cost/proceeds and any captured gain etc. (as this is a preferred unit and no any special tax treatment). in my 1099-B I also have these transactions listed as "uncovered", which shows the dates and proceeds of the transactions.   While entering these transaction in TT as part of 1099-B, I chosen "long-term non-covered" (I knew the purchase dates).   Then I selected "cost base missing or incorrect", then in the next screen, I provided my calculated cost basis. However TT keeps flagging out these transactions as "Need Review". I do not know where I did wrong. Any advise really appreciated. (I attached two screenshots during TT inputs)     Then I input the cost basis:
@asm_ahsan  agreeing with my colleague @VolvoGirl , the figures you are quoting are for Qualified Dividend not ordinary dividend  ( which would be per your marginal tax bracket ). Is this what you ... See more...
@asm_ahsan  agreeing with my colleague @VolvoGirl , the figures you are quoting are for Qualified Dividend not ordinary dividend  ( which would be per your marginal tax bracket ). Is this what you meant ?  See here:  from -->  Is There a Dividend Tax? Your Guide to Taxes on Dividends - TurboTax Tax Tips & Videos What are the 2024 tax rates for dividends in different tax brackets? Ordinary dividends are taxed using the ordinary income tax brackets for tax year 2024 Qualified dividend taxes are usually calculated using the capital gains tax rates. For 2024, qualified dividends may be taxed at 0% if your taxable income falls below: $47,025 for those filing Single or Married Filing Separately $63,000 for Head of Household filers $94,050 for Married Filing Jointly or Qualifying Surviving Spouse filing status The qualified dividend tax rate increases to 15% for taxable income: $47,026 through $518,900 for Single Filers $47,026 through $291,850 for Married Filing Separately filers $63,001 through $551,350 for Head of Household filers $94,051 through $583,750 for Married Filing Jointly or Qualifying Surviving Spouse filers Qualified dividend income above the upper limits of the 15% bracket requires paying a 20% tax rate on any remaining qualified dividend income. Depending on your specific tax situation, qualified dividends may also be subject to the 3.8% Net Investment Income Tax.
Please see how do I print estimated tax vouchers for specific directions.  Please be aware, if you were not subject to needing estimates set up in 2024, you will need to select yes on question 3 - "d... See more...
Please see how do I print estimated tax vouchers for specific directions.  Please be aware, if you were not subject to needing estimates set up in 2024, you will need to select yes on question 3 - "do you want to change your W-4 withholdings for 2025."   This will take you through a series of questions you can answer based upon your expected income for 2025 and will generate the 1040-ES based upon your entries.
the instructions for Form 656 state: Periodic Payment: This option requires you to make the first payment with the offer and the remaining balance paid in monthly payments within 6 to 24 months, i... See more...
the instructions for Form 656 state: Periodic Payment: This option requires you to make the first payment with the offer and the remaining balance paid in monthly payments within 6 to 24 months, in accordance with your proposed offer terms. There doesn't seem to be any other option except 24 months. But are you needing an Offer in Compromise OR an installment agreement?  An IA can go out 72 months. that is a Form 9465
It is Utah that is giving me grief.  I'll give the lower case wtf a try.  thanks for the help!
there are specific lines on the schedule D that must be used for covered summary transaction entry when there are no adjustments so that the details do not have to be submitted to the iRS short-ter... See more...
there are specific lines on the schedule D that must be used for covered summary transaction entry when there are no adjustments so that the details do not have to be submitted to the iRS short-term 1a, long-term 8a.  other lines  first flow to 8949 then Schedule D and require details to be sent to the iRS don't know what version of TurboTax you are using, but all desktop versions support this you must use the 1099-B worksheet, not the capital asset sale worksheet in search box type "1099-B"  no quotes  a name must be entered. it can be xxx if you want. the acct number and reporter ID are not needed.       
Assuming the $2,800 you earned was reported on a Form W-2, you are not required to file a tax return.  The only reason you would want to file is if there was any federal tax withheld (Box 2 of W2) or... See more...
Assuming the $2,800 you earned was reported on a Form W-2, you are not required to file a tax return.  The only reason you would want to file is if there was any federal tax withheld (Box 2 of W2) or state tax withheld (Box 17 of W2) so that you could get a refund of those amounts.   If you do file, be sure to indicate in the My Info section that "Another taxpayer can claim me as a dependent on their tax return" and then answer "Yes" to Will this person claim you on their 2024 tax return?  
The same as line 2a on the 1099-div, rather than the Turbotax breakdown page.
For a rental property, the correct depreciation period for a furnace is 27.5 years, not 7 years. TurboTax might have selected 7 years due to a misclassification or an error in the asset category. H... See more...
For a rental property, the correct depreciation period for a furnace is 27.5 years, not 7 years. TurboTax might have selected 7 years due to a misclassification or an error in the asset category. Here’s why it’s 27.5 years: Residential Rental Property: Furnaces are considered part of the residential rental property and are depreciated over 27.5 years using the Modified Accelerated Cost Recovery System (MACRS) Component of the Property: Since the furnace is a central unit that becomes a component of the house itself, it follows the same depreciation period as the property Typically, assets with a useful life of 5 to 7 years include: Office equipment (computers, printers, etc.) Furniture and fixtures (desks, chairs, etc.) Vehicles used for business purposes To correct this in TurboTax: Review Asset Category: Ensure the furnace is categorized under "Residential Rental Real Estate not as equipment/furniture/fixtures Review Asset/Depreciation Details: Navigate to the Assets/Depreciation :  Use the search magnifying glass at the top right and type "depreciation" or "assets purchased." Click the "Jump to" link to go directly to the asset section