All Posts
April 7, 2025
12:44 PM
I have a similar situation;, an estate closed and I received a K1 (Form 1041) and Box 11 is populated with a D. Does anyone know where and how I enter this info into Turbotax? Thanks!
April 7, 2025
12:44 PM
Okay thank you, I think it’s starting to make more sense, I appreaciate your help!
April 7, 2025
12:43 PM
Shouldn't maryland income earned when I was a Texas resident also be taxable in Maryland since the employer was in Maryland? Normally if someone did that for a full year that would be "non-resident" ...
See more...
Shouldn't maryland income earned when I was a Texas resident also be taxable in Maryland since the employer was in Maryland? Normally if someone did that for a full year that would be "non-resident" state tax. But in this situation does this mean i need to file both part-year resident tax for the maryland income earned as a resident (last few months) and maryland non-resident income tax for the maryland income earned rest of the year as a texas resident? Seems like there should be a single filing where i can pay state taxes on both portions?
April 7, 2025
12:43 PM
The foreign tax credit would be reported on Form 1116 if it was over the $300 (single filer) or $600 (married filing joint) threshold for requiring that form to receive the foreign tax credit. You c...
See more...
The foreign tax credit would be reported on Form 1116 if it was over the $300 (single filer) or $600 (married filing joint) threshold for requiring that form to receive the foreign tax credit. You can try deleting that form as follows if you don't qualify for the credit:
Follow these instructions:
1. Choose the Tax Tools option on your left menu bar while working on your return
2. Choose Tools
3. Choose the Delete a form option under Other Helpful links
4. Find the Form 1116 in the list of forms and delete it
April 7, 2025
12:43 PM
My return generates a form 1116, the Foreign Tax Credit form. In past years I have had to print out a copy of this form and mail it to the IRS via the "print required forms" option, after I efile. ...
See more...
My return generates a form 1116, the Foreign Tax Credit form. In past years I have had to print out a copy of this form and mail it to the IRS via the "print required forms" option, after I efile. This year, though, TurboTax is not telling me I need to do that. Has something changed for 2025? Is this an oversight? PS: For the record, I am not eligible for the Form 1116 exemption.
April 7, 2025
12:42 PM
Thank you!
April 7, 2025
12:42 PM
Topics:
April 7, 2025
12:41 PM
1 Cheer
Yes, if the property was available to rent on a specific day, that day is considered a rental day in TurboTax. Personal use days affect the calculations, but rented and not rented are treated the sa...
See more...
Yes, if the property was available to rent on a specific day, that day is considered a rental day in TurboTax. Personal use days affect the calculations, but rented and not rented are treated the same if the property was available to rent.
April 7, 2025
12:41 PM
In the Personal Info section, be sure to select
Another taxpayer can claim me on their tax return
and then make the selection
"Another taxpayer will claim me"
On the "Do Any of These Ap...
See more...
In the Personal Info section, be sure to select
Another taxpayer can claim me on their tax return
and then make the selection
"Another taxpayer will claim me"
On the "Do Any of These Apply to You?" screen
April 7, 2025
12:41 PM
Ok, what if your distribution was over $10,000? All of it was used to pay a student loan. thanks
April 7, 2025
12:41 PM
Topics:
April 7, 2025
12:41 PM
I should have mentioned that it is a complex trust and does not require the distribution of income to the beneficiaries
April 7, 2025
12:41 PM
1 Cheer
No, do not enter $7,000 on the "made excess Roth IRA contribution for Prior Years" screen. On this screen you only enter excess contributions made before 2024 that weren't removed from the Roth IRA.
April 7, 2025
12:41 PM
Please clarify your question by providing some additional information so we may better help you. Such as: What version of TurboTax are you using? What are you entering? What TurboTax screen are you o...
See more...
Please clarify your question by providing some additional information so we may better help you. Such as: What version of TurboTax are you using? What are you entering? What TurboTax screen are you on? Is the error on your Asset Entry Worksheet? Do you have a rental property? Are you claiming miscellaneous itemized deductions? Are you a government official or in the Armed Services, or do you have impairment-related work expenses?
April 7, 2025
12:40 PM
How do I "hand over" my filing to an expert?
Topics:
April 7, 2025
12:39 PM
En TurboTax no podras preparar y enviar electrónicamente el formulario 5472 del IRS. Si puedes preparar el formulario 1120 federal y de Delaware.
April 7, 2025
12:39 PM
1 Cheer
Yes, you need to file Maryland Part year resident return. Only income earned while you were Maryland resident is taxable on your Maryland state return. TX does not have any income tax.
How do I fil...
See more...
Yes, you need to file Maryland Part year resident return. Only income earned while you were Maryland resident is taxable on your Maryland state return. TX does not have any income tax.
How do I file a part-year state return?
Is federal wage info in boxes 1–14 the same on both W-2s?
Did your employer enter TX in box 15 on one of the W-2?
April 7, 2025
12:37 PM
Additional info: my taxable income decreased quite a bit this year from last year, while my blended tax rate increased from about 32% to 42%. I had no other changes from last year to this year other ...
See more...
Additional info: my taxable income decreased quite a bit this year from last year, while my blended tax rate increased from about 32% to 42%. I had no other changes from last year to this year other than my income decreasing. Why would this happen?
April 7, 2025
12:37 PM
You will have to split Form 1099-R into two separate Forms for TurboTax to handle this situation. One for the rollover to the traditional IRA and one for the conversion to the Roth IRA. As long as th...
See more...
You will have to split Form 1099-R into two separate Forms for TurboTax to handle this situation. One for the rollover to the traditional IRA and one for the conversion to the Roth IRA. As long as the total and distributions codes match entering it like this will not cause a problem.
Click on "Search" on the top right and type “1099-R”
Click on “Jump to 1099-R”
Enter the first 1099-R for the rollover into the traditional IRA:
Box 1 Enter amount send to traditional IRA
Box 5 blank
On the "Did you move this money from a 401(k) to a Roth 401(k)?" screen answer "No"
On the "Did you move the money to a Roth IRA?" screen answer "No"
Enter a second 1099-R for the conversion to Roth IRA:
Box 1 Enter amount send to Roth IRA
Box 5 enter amount listed on Form 1099-R
On the "Did you move this money from a 401(k) to a Roth 401(k)?" screen answer "No"
On the "Did you move the money to a Roth IRA?" screen answer "Yes"