All Posts

TurboTax does not handle your situation. It is described on page 16 of Tax situations TurboTax does not handle.   If you are using the desktop version, you may be able to override and work around it.

  You have to access your own account and/or  print it for yourself using exactly the same account and user ID that you used when you prepared the return.    https://myturbotax.intuit.com/   Start a 2024 return online and enter some personal information  so that the menu on the left opens up and lets you access your past year returns.   https://ttlc.intuit.com/community/prior-year-return/help/how-do-i-access-my-prior-year-return/01/27010     https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US?uid=m5y4ch1y   Many people have multiple TT accounts and forget how to access them.  Log out of the account you are in now.     https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/many-intuit-accounts-turbotax/L9aVfKS1Z_US_en_US?uid=ll5g6zcx Account Recovery     Or did you use the desktop version of TurboTax?  If so, the files are on your own hard drive or any backup device you used like a flash drive.     https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/find-last-year-tax-data-file-tax-file-computer/L0XJvPaJr_US_en_US?uid=m6gufxei     https://ttlc.intuit.com/turbotax-support/en-us/help-article/data-systems/find-tax-data-file-mac/L4VNGm33S_US_en_US?uid=m6guhab0 You can get a free transcript from the IRS or for a fee of $30, an actual copy of your tax return. https://www.irs.gov/individuals/get-transcript https://www.irs.gov/pub/irs-pdf/f4506.pdf       SAVE YOUR TAX RETURNS ! EVERY year before mid-October you should save a copy of your tax return as a pdf and print a copy of it for your records.  That way you will not be searching online frantically when you need it for a lender, FAFSA forms, your next tax return, etc.    https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US?uid=m6guj526   https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US?uid=m78eb8pc In order to transfer a past year return to the new return you need the tax file   https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-turbotax-online-return-tax-data-file/L4xwOG3LF_US_en_US?uid=m6guk3xl   NOTE:  TurboTax and the IRS save returns for seven years.  Returns older than seven years are purged.  

It is possible that the foreign tax deduction is more advantageous than the foreign tax credit. You are allowed to deduct all of your foreign taxes but can only take the foreign tax credit in the current year to the extent of your US income tax on foreign income. So if your foreign tax rate is high and your foreign income is low in relation to your US income, the deduction may have the better result.   You can look on line 1 of your Schedule 3 to see if you are getting the foreign tax credit when you choose that option in the program.   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 

If state income tax is withheld, it likely is income taxable to the state.   However, pension distributions are treated very differently from one state to another.  What state are you referring to?  

Thanks for the explanation.   In my case, the item was a small electronic speaker (retails for less than $50) that my family member received (along with every other employee) at a work party. I don't believe this item was part of my family member's income or W2.   I'm assuming then the cost basis is $0 correct?

Unless you took steps to change your state residency before you left, you are still a resident of that state.  If you are required to file a federal return, you also need to file a state return, assuming your state has an income tax. 

When you use online TurboTax software you get one return per fee.   Each return needs its own account and user ID.   If you use the same account and user ID for a second return, the second one overwrites the first return and it is lost forever.   https://ttlc.intuit.com/community/using-turbotax/help/how-do-i-start-another-return-in-turbotax-online/00/25596

This would be a medical reimbursement that would offset deductible medical expenses on Schedule A Itemized Deductions.   In TurboTax Online, see the screen Tell us about any medical reimbursements.   In TurboTax Premium Online, follow these steps:   Down the left side of the screen, click on Federal. Down the left side of the screen click on Deductions & credits. Click the down arrow to the right of Medical. Click to the right of Medical Expenses.

@ernestpurvis78 Are you and your spouse newlyweds filing your first tax return together?   Did you make a mistake with preparing a joint return? Or with married filing separately?     Explain what you did and why you are trying to delete a return so we can be more helpful with what you will need to do to correct the return(s).   

Tax rules. Purchased stock is based on comparable sales or FMV. Inherited securities have a step up basis usually. The average price method is to help simplify things.   We comply with IRS rules regarding how to determine the fair market value of donated securities based on their acquisition method (purchase vs. inheritance).   "Treasury Regulation § 20.2031-2 Valuation of stocks and bonds. (a) In general. The value of stocks and bonds is the fair market value per share or bond on the applicable valuation date. (b) Based on selling prices."   In other words, Comparative sales. TurboTax doesn't offer any alternative for the method to determine the value because that is the method that is required by the IRS.    @slcfan