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April 7, 2025
3:32 PM
1 Cheer
If the refund is being direct deposit, I wouldn't worry about the complete city/town showing, but if the refund is to be mailed, I would manually enter the missing name for the town.
Since the...
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If the refund is being direct deposit, I wouldn't worry about the complete city/town showing, but if the refund is to be mailed, I would manually enter the missing name for the town.
Since the return is being printed and paper-filed, edit the name with a black ink pen.
April 7, 2025
3:32 PM
7 April Turbotax 2024 has capital gains under foreign income but says before 24 June and after 24 June. But govt says they cancelled the intended changes. I put the capital gains under after 24 J...
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7 April Turbotax 2024 has capital gains under foreign income but says before 24 June and after 24 June. But govt says they cancelled the intended changes. I put the capital gains under after 24 June but nothing goes through. Also under before 24 June there are big errors in capital gains calculation and does not take into account foreign tax paid. Please advise Is there an error in software Pl send reply to my email [email address removed] Thanks
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April 7, 2025
3:32 PM
No. If you are receiving Medi-Cal or Medicaid, you would not receive a 1095-A. You are correct to say you do NOT have a 1095-A.
April 7, 2025
3:31 PM
1 Cheer
I would stick with Deluxe, at least to start. If you run into a situation that Deluxe can't handle, you will be prompted to upgrade while working on your return.
Yes, your parents will be unable to claim the credit because you're no longer their dependent. You can enter the information from your 1098-T to enter your payments, and answer the interview question...
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Yes, your parents will be unable to claim the credit because you're no longer their dependent. You can enter the information from your 1098-T to enter your payments, and answer the interview questions. TurboTax will calculate the Lifetime Learning Credit you're entitled to.
Here's how to enter your 1098-T in TurboTax, from Where do I enter Form 1098-T (Tuition Statement)?:
Enter the 1098-T in the section for Tuition:
TurboTax Online: Here is the link: 1098-T. or use the magnifying glass, type "1098-T", and select "Jump to 1098-T"
TurboTax Desktop: Select Search. Search for Form 1098-T.
See: Education credits - AOTC and LLC, How do Education Tax Credits Work?
April 7, 2025
3:29 PM
1 Cheer
In that case you're good to go until either the sale goes through or the deposit is forfeited and you get told you can keep it.
@Rosie25
April 7, 2025
3:29 PM
I have $887 of foreign tax paid shown on Box 7 of my 1099-DIV from various countries. I am trying to get the foreign tax credit but when I go to "deductions and credits" and then "foreign taxes" ...
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I have $887 of foreign tax paid shown on Box 7 of my 1099-DIV from various countries. I am trying to get the foreign tax credit but when I go to "deductions and credits" and then "foreign taxes" and click through it asks if I want an itemized deduction or to take a credit. I click "take a credit" and have tried to answer the questions that follow (the only foreign tax paid is related to ETF's listed on the NYSE which hold some foreign securities). I don't know what I am doing wrong but I do not get the credit (my taxes are lower when I say I want to itemize instead of getting the credit, but that doesn't make sense). Any ideas on how to fill out the foreign tax credit screens properly in this situation? I am using TurboTax desktop. Thank you!
April 7, 2025
3:29 PM
Should I be using 'Single' or 'Head of Household' status? My father became a US a resident in June 2024. Non-resident until June 2024 and living abroad. He lived with me in NJ from July through end ...
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Should I be using 'Single' or 'Head of Household' status? My father became a US a resident in June 2024. Non-resident until June 2024 and living abroad. He lived with me in NJ from July through end of 2024. He has no income in the US, however, gets pension and interest/dividends abroad. If I consider his foreign income only for the time he has been resident of US, it will be less than $5000. Can I consider him as my dependent and file my taxes as Head of Household or should I file as Single? Thank you!
April 7, 2025
3:28 PM
how do i deduct the repairs i made on the property?
April 7, 2025
3:28 PM
Only income from the investment stock is a small dividend, as reinvesting is not an option with this stock. There is no rental income.
April 7, 2025
3:28 PM
Filing a final federal tax return for a relative who passed away in 2024 using TurboTax involves a few steps:
Start the Return: Open TurboTax and begin a new tax return for the deceased person. ...
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Filing a final federal tax return for a relative who passed away in 2024 using TurboTax involves a few steps:
Start the Return: Open TurboTax and begin a new tax return for the deceased person. Enter their personal information as you normally would.
Indicate Deceased Status: In the Personal Info section, TurboTax will prompt you to indicate that the taxpayer is deceased. You'll need to enter the date of death.
Enter all income earned up to the date of death and any applicable deductions. Since the return shows zero income but has self-employment tax due, make sure to accurately report any self-employment income and expenses.
TurboTax will guide you through the rest of the process, including any special forms or documents needed for a deceased taxpayer.
Paying Taxes: The estate is responsible for paying any taxes due, including self-employment taxes. The executor or personal representative, will use the estate's funds to pay these taxes.
For more detailed information, you can check out these resources:
IRS: Filing a Final Federal Tax Return for Someone Who Has Die
TurboTax Death in the Family - Filing Final Return
April 7, 2025
3:28 PM
Genuinely, how has this not been fixed yet? This was posted over a month ago...what a garbage product!
April 7, 2025
3:28 PM
You may have other taxes besides income taxes on your return. You can look at Schedule 2 "Additional Taxes" to see what they may be.
To view your form 1040 and schedule 1 to 3:
Choose ...
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You may have other taxes besides income taxes on your return. You can look at Schedule 2 "Additional Taxes" to see what they may be.
To view your form 1040 and schedule 1 to 3:
Choose Tax Tools from your left menu bar in TurboTax Online while working in your program
Choose Tools
Choose View Tax Summary
See the Preview my 1040 option in the left menu bar and click on it
Choose the Back option in the left menu bar when you are done
April 7, 2025
3:28 PM
I received disability payments through my employer's California Voluntary Disability Plan (VDP), which is a substitute for California State Disability (SDI) by EDD. MetLife which administered the Vol...
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I received disability payments through my employer's California Voluntary Disability Plan (VDP), which is a substitute for California State Disability (SDI) by EDD. MetLife which administered the Voluntary Disability Plan sent me a W-2 for the amounts I received. However, EDD told me that EDD's SDI does not need to be reported as income on tax return and thinks it should be the same for VDP payments. But my CPA is saying that it should be reported as income since MetLife issued the W-2 with the payment amount listed in Box 1. He's saying that the only way it would not need to be reported is to have zero amount in box 1 wages, and code J in box 12. Is that correct? I think MetLife issued the W-2 to show how much taxes were deducted from the disabiltiy payments.
April 7, 2025
3:27 PM
If you lived in an area that was designated a federal disaster area, and suffered a loss as a result of that loss, there was special treatment of distributions from retirement plans and IRAs. They w...
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If you lived in an area that was designated a federal disaster area, and suffered a loss as a result of that loss, there was special treatment of distributions from retirement plans and IRAs. They were exempt from the 10% penalty for early withdrawal, and they could be reported on your tax return over three years, instead of all in the year of distribution. But you still had to report it as income. If you want to take advantage of this, you can file an amended return for 2022 with a Form 8915 - Qualified Disaster Retirement Plan Distributions and Repayments. Generally, an amended return (Form 1040-X) must be filed for a credit or refund within 3 years after the date the original return was filed, or within 2 years after the date the tax was paid, whichever is later.
I recommend you contact the Social Security Administration. Benefits can be reduced if you are below the full retirement age and have earned income above a certain level; however, I have not heard of them reducing benefits due taking distributions from a retirement account.
April 7, 2025
3:27 PM
I read that about the brokers too. I also have a spreadsheet with the details. Sounds like this is an issue for more states than just Delaware. I just wish TurboTax would fix the software. Thanks fo...
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I read that about the brokers too. I also have a spreadsheet with the details. Sounds like this is an issue for more states than just Delaware. I just wish TurboTax would fix the software. Thanks for confirming!
April 7, 2025
3:27 PM
A vacation home rental is subject to restrictions, namely, that you can only deduct the portion of your expenses directly related to the rental, and some of your operating expenses and depreciation m...
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A vacation home rental is subject to restrictions, namely, that you can only deduct the portion of your expenses directly related to the rental, and some of your operating expenses and depreciation may be carried over to subsequent years rather than deducted in full.
You are not allowed to take losses on a rental property that has a mixture of personal and business use, as you mentioned, and the loss should be carried over.
However, this only applies if you use it for personal purposes more than the greater of:
14 days, or
10% of the total days it is rented to others at a fair rental price.
If your personal use did not exceed that amount, TurboTax was correct in not applying the limitation to the loss on your rental property.
You may need to step through the Rental section to make sure your rental is being designated as a passive activity to generate Form 8283.
Here's more discussion on Vacation Home Rental Loss.
@KJT17
April 7, 2025
3:27 PM
What type of income do you have? Do you work or are you retired? Pension? Social Security? Do you have any taxes withheld?
If it is just social security, you do not need to file a return i...
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What type of income do you have? Do you work or are you retired? Pension? Social Security? Do you have any taxes withheld?
If it is just social security, you do not need to file a return if you only have $29,000 in social security.
If you have other types of income, and you are single, your standard deduction (if you are under 65) is $14,600. This means you would have taxable income of $14,400 which puts you in the 12% income tax bracket. If you are not having taxes withheld, then you would owe taxes.
April 7, 2025
3:26 PM
I do my son's taxes for him. He filed his federal return for free, but chose to mail in his state returns because the electronic fee was more than his refund. He lives in a town with a two word nam...
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I do my son's taxes for him. He filed his federal return for free, but chose to mail in his state returns because the electronic fee was more than his refund. He lives in a town with a two word name. When I went to print off his return, the informational page displayed his complete address correctly. But at the top of his D-400 (NC tax return), it printed the first word of his town's name, and one letter. The state, zip code, and county were correct. I can't find a way to edit it. Is this a problem?
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April 7, 2025
3:25 PM