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April 7, 2025
12:55 PM
The Blended tax rate is calculated under Federal / Federal Review.
To access it, all questions must be answered in the Federal Review.
At the end of the questions. Look at the bottom of th...
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The Blended tax rate is calculated under Federal / Federal Review.
To access it, all questions must be answered in the Federal Review.
At the end of the questions. Look at the bottom of the screen
It will say Get a detailed view of your numbers.
The Blended Tax rate is:
Tax liability (Including SE tax, capital gain and special taxes),
Divided by
Taxable income (Total income minus deductions, but before credits).
(All line numbers are on form 1040).
The Effective Tax rate is your:
Total income (line 9)
Deductions (Line 12) This is Itemized or Standard
Taxable Income (Line 9 – Line 12)
Blended Tax Rate (Tax Liability [below] / Taxable Income [above])
Tax Liability (Line 16 + Line 23)
Taxes Paid (line 25d) Credits (Line 21) Total Tax Paid (Line 21 + Line 25d) Refund/Due (Line 34 or Line 37)
Effective tax rate doesn't consider SE tax and any penalties, and blended tax rate does. Blended tax rate is a confusing and unnecessary term to be using in TT, and gets everybody all upset.
You can compute it yourself with a calculator.
Effective tax rate is something Turbo Tax uses to help you see where you stand; to see which W-2 may be deficient in withholding the correct amount of Federal tax, etc.
It should be the tax divided by the total income, not the AGI. It is a number without any real value other than just to let you know when you earn $1, about x% is taxed.
For more effective information see:
TaxCaster tax calculator
Tax bracket calculator
April 7, 2025
12:54 PM
1 Cheer
You may have been required to mail the Form 1116 in the past due to special circumstances such as carryover foreign tax credits from previous years or foreign taxes not reported on 1099 forms. If you...
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You may have been required to mail the Form 1116 in the past due to special circumstances such as carryover foreign tax credits from previous years or foreign taxes not reported on 1099 forms. If you were not instructed to mail the form in for 2024, then you don't need to do so.
April 7, 2025
12:54 PM
For billing issues you can contact the TurboTax Support Phone Number
April 7, 2025
12:53 PM
Sounds like the carryover amount from 2023 is the issue, if it's identical to your 2024 contribution. If you're using TurboTax Desktop, check the amount on the Federal Carryover Worksheet, Line 26. ...
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Sounds like the carryover amount from 2023 is the issue, if it's identical to your 2024 contribution. If you're using TurboTax Desktop, check the amount on the Federal Carryover Worksheet, Line 26. If this is not the same amount as shown on your Schedule A, you can change the amount on the Carryover Worksheet to the correct amount, which will then flow to Schedule A.
In TurboTax Online, scroll down from Charitable Contributions to 'Charitable Donations Carryover from 2023'.
@wnt
April 7, 2025
12:53 PM
[Filter: PII] JL503's post body matched "r:(\+?\d{1,2}\s?\D?)?\(?\d{3}\)?[\s.-]?\d{3}[\s.-]?\d{4}", board "204".
Post Subject: Re: US Treasuries and Muni Bonds
Post Body: TurboTax...
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[Filter: PII] JL503's post body matched "r:(\+?\d{1,2}\s?\D?)?\(?\d{3}\)?[\s.-]?\d{3}[\s.-]?\d{4}", board "204".
Post Subject: Re: US Treasuries and Muni Bonds
Post Body: TurboTax Premier Download for Mac is taxing US territory bond interest in Delaware. After breaking out exempt interest dividends by state (DE) and territory (Puerto Rico, Guam and USVI) on the FED form, the DE source income is subtracted from DE PIT-RES Line 2 correctly, but the US territories are not being added in to Line 5 (which would then subtract them from DE taxable income). After 2 hours on the phone with TurboTax product support, the rep and I waited for the calculations group to reply but they never did. Then I was told there will be NO FOLLOWUP since they didn't answer the request while I was on the phone!!! A few years ago, they corrected the Delaware calculations on the forms, but now they seem to be broken again. They said I should override it and just enter the correct number, but then the font turns RED which will immediately call attention to that line when I file my taxes and probably cause an audit.
I am trying to find someone who can help me with this who can get to the right group in TurboTax. Or help me turn the RED font black before I file.
Case number 1549010542
Thank you in advance to anyone who can help with this!
Body text "1549010542" matched filter pattern "r:(\+?\d{1,2}\s?\D?)?\(?\d{3}\)?[\s.-]?\d{3}[\s.-]?\d{4}".
Post by User[id=5134777,login=JL503] has message uid 3634730.
Link to post: Re: US Treasuries and Muni Bonds
April 7, 2025
12:53 PM
TurboTax Premier Download for Mac is taxing US territory bond interest in Delaware. After breaking out exempt interest dividends by state (DE) and territory (Puerto Rico, Guam and USVI) on the FED fo...
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TurboTax Premier Download for Mac is taxing US territory bond interest in Delaware. After breaking out exempt interest dividends by state (DE) and territory (Puerto Rico, Guam and USVI) on the FED form, the DE source income is subtracted from DE PIT-RES Line 2 correctly, but the US territories are not being added in to Line 5 (which would then subtract them from DE taxable income). After 2 hours on the phone with TurboTax product support, the rep and I waited for the calculations group to reply but they never did. Then I was told there will be NO FOLLOWUP since they didn't answer the request while I was on the phone!!! A few years ago, they corrected the Delaware calculations on the forms, but now they seem to be broken again. They said I should override it and just enter the correct number, but then the font turns RED which will immediately call attention to that line when I file my taxes and probably cause an audit. I am trying to find someone who can help me with this who can get to the right group in TurboTax. Or help me turn the RED font black before I file. Case number [phone number removed] Thank you in advance to anyone who can help with this!
April 7, 2025
12:53 PM
You can file an Iowa Partnership return by mail using TurboTax Business. The e-file option for this return is not available at this time.
The Forms Availability Table for TurboTax Business conf...
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You can file an Iowa Partnership return by mail using TurboTax Business. The e-file option for this return is not available at this time.
The Forms Availability Table for TurboTax Business confirms this in the title "print only."
April 7, 2025
12:53 PM
I have finished preparing my taxes and am ready to file, but Turbotax keeps including the Special Depreciation Allowance Elections under IRC Section 168(k)(7) form when I preview the returns prior to...
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I have finished preparing my taxes and am ready to file, but Turbotax keeps including the Special Depreciation Allowance Elections under IRC Section 168(k)(7) form when I preview the returns prior to filing. I used section 179 for 100% depreciation of the two items I purchased during the 2024 tax year. The best I can understand is that the election form should only be included if I am not taking 100% 179 depreciation. Any help out there? Thank you.
April 7, 2025
12:52 PM
Yes. Mine started on April 6. I get the dialog box where it says downloading and installing and then I get a fail. Tried different times and still it does not install the latest updates. I am at the ...
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Yes. Mine started on April 6. I get the dialog box where it says downloading and installing and then I get a fail. Tried different times and still it does not install the latest updates. I am at the check my return portion and it will not let me proceed without the updates.
April 7, 2025
12:52 PM
April 7, 2025
12:52 PM
1 Cheer
No, it isn't necessary to to issue a 1099 MISC in addition to the K-1.
April 7, 2025
12:51 PM
You should not have to enter any state information for your Form 1099-DIV (unless you had a state withholding, which you don't). Leave all of them blank. Don't enter zeros.
April 7, 2025
12:51 PM
No, you do not need to file by mail. You can keep the 1099-NEC in your tax file and simply report the self employment income on Schedule C as cash income. First delete your 1099-NEC, then next use th...
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No, you do not need to file by mail. You can keep the 1099-NEC in your tax file and simply report the self employment income on Schedule C as cash income. First delete your 1099-NEC, then next use the link to report your self employment income.
If you're using TurboTax Online software and need to delete a form, click here.
If you're using TurboTax Desktop software and need to delete a form, click here.
How do I report income from self-employment?
@PerryBoysMom
April 7, 2025
12:50 PM
1 Cheer
None of those links have the actual agreement, showing total amount owed, interest rate and monthly payment amount.
April 7, 2025
12:49 PM
1 Cheer
While I would never recommend sending a second return to the IRS when the first one is in the mail (confusing the IRS is never a good idea) if you're really stressed about this go ahead and send the ...
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While I would never recommend sending a second return to the IRS when the first one is in the mail (confusing the IRS is never a good idea) if you're really stressed about this go ahead and send the second.
In an attempt to alleviate some of your stress I will remind you that the IRS uses the postmark to go off of when determining when you filed your return. So even if it arrives after the 15th it isn't considered filed late.
@jackkgan
April 7, 2025
12:49 PM
You should receive a Form 1095-A if you purchased health insurance through Healthcare.gov or your state's health insurance marketplace. To report form 1095-A: Log in to your account. Go to Fe...
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You should receive a Form 1095-A if you purchased health insurance through Healthcare.gov or your state's health insurance marketplace. To report form 1095-A: Log in to your account. Go to Federal Taxes. Go to Deductions and Credit. Scroll down to Medical and click show more. Go to Affordable Care Act (Form 1095-A). TurboTax will show in Part II individuals who are listed on the return.
April 7, 2025
12:48 PM
LLC, a partnership, in home rental business, issues a K1, with net loss, to its partners that includes al rents received, expenses, and depriciation. Without the depriciation it is positive, so the L...
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LLC, a partnership, in home rental business, issues a K1, with net loss, to its partners that includes al rents received, expenses, and depriciation. Without the depriciation it is positive, so the LLC flows the cash to its partners. Now, should the LLC issue a 1099-Misc as well? If it does 1099-Misc, how should the partners handle it since all the income and expenses are already accounted for in their K1s?
Topics:
April 7, 2025
12:48 PM
Yes, most people pay tax all year round.
When you file your tax return, you are calculating if you paid enough.
Your tax return reports all the relevant tax, and all your tax payments, then subt...
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Yes, most people pay tax all year round.
When you file your tax return, you are calculating if you paid enough.
Your tax return reports all the relevant tax, and all your tax payments, then subtracts those two amounts to decide if you owe a payment with your return or if you get a refund.