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Q. Since that money went directly to the university for his tuition and room and board, we expect to pay nothing in taxes on the earnings of $2370.  How do I enter the forms in TurboTax for that to happen?   Good, you know the expected outcome.    Delete the 1098-T and 1099-Q you already entered  Re-Enter the 1099-Q  before you enter the 1098-T, Otherwise you won't get the room and board screen.  You will not get a screen  to enter  total amount paid ($11,188).  By entering the 1098-T, you effectively enter the $3624 tuition you paid (9481-5857).  Then you enter your other education expenses (R&B, books and a computer).  You must also  complete the “Education Information” sub-section. In particular, be on the lookout for a screen “education expenses used for a tax credit”. It will usually be prepopulated (sometimes with $10K instead of the more appropriate $4K). You can change it for the amount you want to allocate to the ed credit, $0, in your case.  When the box 1 amount on form 1099-Q is fully covered by expenses, TurboTax will enter nothing about the 1099-Q on the actual tax forms. But, it will prepare a 1099-Q worksheet for your records.    If that fails, just delete the 1099-Q and 1098-T, as you know you have nothing to report about education on either your or the student's returns. 

Pending means that the IRS has not looked at your return yet. Rejected means that the IRS has looked at your return, but there's something wrong. If it was rejected because some one else used a Social Security number that was on your tax return. This could be a child, or you. If you did not select Someone else can claim me as a dependent It could cause this peoblem.  

There is not a way to get a refund for the sales tax you paid, but you may be able to claim it as an itemized deduction on Schedule A if you choose to claim sales tax instead of state and local taxes.   See the following TurboTax help article to learn more:   Can I claim the sales tax deduction?  

and just for awareness, if you're expecting state exemption for these AMD amounts, they will not be reflected as exempted/subtracted on your state return.  There are some ambiguities and debates on the state exemption of AMD as it depends on language and interpretation in state tax codes, but TT does not treat it the same way as the coupon interest in 1099-INT Box 3 (there is nowhere to indicate this AMD interest is related to a US Treasury).  If this is an issue for you we can get into this further.

Can you clarify if this if for Missouri?  If so, follow these steps:   1. Obtain Form 5872: Download the form from the Missouri Department of Revenue (DOR) website.    2. Fill out the form: Accurately provide the required information, including the amount of your contributions and any other supporting documentation.    3. Attach to your tax return: When filing your Missouri income tax return, you must attach the completed Form 5872, along with the 1099 form issued by the financial institution and any other necessary documentation. 

 JohnB5677 Employee Tax Expert is WRONG.    I have the correct package.  I just had to dig deeper and found it despite your discouraging incorrect advice.   For the rest of the world who have home and business download, form K-1 (aka 1065) is located on the PERSONAL tab.  There you will find Partnership/LLC K-1 Summary.  There are 2 buttons.  Add another K-1.  Edit.   If you practice with a downloaded paper form, you will see the familiar fields.   Please, JohnB5677, do some research instead of providing flippant answers.  Your hasty response wasted my time and perhaps others.    

Sounds correct, and you're being taxed on Schedule B not Schedule D.  These entries represent Accrued Market Discount on bonds.  The gain is adjusted down on Form 8949 by the amount of the AMD, and TT will reflect this amount as ordinary income on Schedule B.  So in this example you should see an entry for $394 on Schedule B for this with some description ending with the phrase "Accrued Market Discount".

You will have to include and post the taxes that were paid on the 1099. There are many 1099 forms, but I will guess that you have a 1099-R   Under Federal Wages & Income Scroll to IRA, 401(k), Pension Plan Withdrawals (1099-R) [Add/Edit] Did you get a 1099-R in 2024? [yes] If you are adding a 1099-R [+ Add another 1099-R] The steps are the same from here [Change how I enter my form] [Type it Myself] If necessary chose a person [Continue] Who gave you a 1099-R? Click box [Continue] Post the 1099-R Be sure to enter box 4 Where do I enter my 1099-R?

TurboTax Desktop can be installed on up to five computers.   However, you cannot resume the work you did on one computer on another computer because your tax file is only saved on the computer yo used tp prepare it.    To continue the same return on another computer, you need to save the tax file (with extension taxxxx) on a mobile device and transfer it to the new computer.

If you are using the TurboTax online web-based editions you can sign onto the TurboTax online account from any computer.   If you are using the TurboTax desktop edition software installed on your personal computer, you can download another installation file to a new computer, but you will need your license code to install the software. Sign onto this website to download the installation software - https://accounts.intuit.com/app/account-manager/productsBilling/turbotax   Additionally, you will need to copy the contents of the the TurboTax folder in your Documents directory to the new computer.