All Posts

I am having the same problem, not related to higher agi or anything, our dividend should be taxed at 15% but when entered as qualified into TT, our tax calculator adjusted at our current tax rate, not 15%.  Any help on how to correct this would be appreciated.

I can't understand why that election form is included then. The only other thing that I can think of is my business vehicle dropped below 50% business use this year after being above 50% business use last year. I also never claimed any initial depreciation on the vehicle. But, I would think that is a 5-year asset, and the election form is for a 7-year asset.

Thank you! I left all other questions blank and reached the page We need some information about your 199A income.   The first option applies to me: XXXX has business income (loss) (including ordinary, rental, royalty, or other) Ordinary business income (loss) _____ Rental income (loss)_____ Royalty income (loss) _____ Other income (loss)_____   On my 199A it combines both ordinary business and rental income(loss) on 1 line with 1 value. However, on TT it lists those two things separately. Should I enter the value under ordinary business income (loss) or rental income (loss) in TT? Does it matter?    

It depends. If you are referring to the following you can enter a sale if this is what you received in the letter for 2024. See the steps below.   A wind-down trust, like the GWG Wind Down Trust, is a legal entity established to manage and liquidate the assets of a company or entity, typically in a bankruptcy or restructuring scenario, with the goal of distributing the proceeds to creditors and other stakeholders. To enter your sale in TurboTax, follow these steps. If you continue to get distributions, in the future your cost basis could be zero if it is all used up in 2024. Open or continue your return. Navigate to the investment sales section: TurboTax Online/Mobile: Go to investment sales. If using this application, make sure it is open TurboTax Desktop: Search for investment sales and then select the Jump to link.  Or Personal Tab > Continue > I'll choose what I work on > Scroll to Investment Income > Select Stocks, Cryptocurrency, Mutual Funds, Bonds, Other Answer Yes to the question Did you sell any of these investments in 2024?  If you land on  the Investment sales summary or Your investments and savings screen, select Add More Sales or Add investments. Click this link for more information. Where do I enter Investment Sales?

1) The term "Other self-employment income" refers to income you received that was not reported on Form 1099-NEC or 1099-K. Enter any income paid by cash, check or credit card under this income topic.   2) The "needs review" tag can appear when nothing needs to be changed. This experience has been reported for further investigation. You can ignore this tag if you have completed your entries.   When you run Final Review, Smart Check will alert you of any areas that need your attention.   3) There's no need to begin a new business. In fact, continuing the self-employment business from last year is important for including information that flows from year to year.   To remove the new business, click the trashcan icon to the right of the line of work you entered this year.

The license code is for TurboTax Desktop.  It is not used in the Online For installation and software issues you can contact the TurboTax Support Phone Number   Edited 07/08/2025 | 8:14 AM PST @lauraa2