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Q. How do you report child’s college tuition fees and room and board?
A. It depends on why you want/need to report them.
If the parent wants to claim the tuition credit, the 1098-T is entere...
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Q. How do you report child’s college tuition fees and room and board?
A. It depends on why you want/need to report them.
If the parent wants to claim the tuition credit, the 1098-T is entered on the parent's taxes. Room and board (R&B) is not entered if claiming the credit is all you need to do.
If the student needs to report excess scholarship as income, the 1098-T is entered on his taxes.
If there was a 529/ESA distribution, R&B is a qualified expense, for that R&B is entered. You must enter the 1099-Q before you enter the 1098-T, to get the R&B entry screen.
Here's a post on the five main points on the 1098-T:
https://ttlc.intuit.com/community/college-education/discussion/i-need-help-with-1098t-section-college-expenses/00/3451036
April 12, 2025
4:49 PM
Yes. Credit on Arizona tax return for taxes paid to Michigan. @MaxRLC
April 12, 2025
4:49 PM
I am trying to sync my bank accounts for expenses and I can't get it to work. What is wrong
April 12, 2025
4:49 PM
I am having the same problem and called customer support. I tried disabling my antivirus, my firewall, rebooting, clearing the cache, updating my profile in intuit and no dice. I still get the same...
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I am having the same problem and called customer support. I tried disabling my antivirus, my firewall, rebooting, clearing the cache, updating my profile in intuit and no dice. I still get the same message about hitting a snag and trying again. This is very upsetting. The customer service person said she could not see my name in the contact information on my Intuit profile, but it was clear on my side. So, if their system is not communicating, then they need to fix it. I asked her to notify the IT team. I hope she will. She seemed reluctant to go that route though.
April 12, 2025
4:49 PM
Did you choose the annualized adjusted gross income method. If you are entering different amounts in each quarter, or leaving a quarter off, it can flag and give the error. Go back in the program u...
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Did you choose the annualized adjusted gross income method. If you are entering different amounts in each quarter, or leaving a quarter off, it can flag and give the error. Go back in the program until you see "Annualized Income Method" and select yes.
April 12, 2025
4:48 PM
Where are you making this entry? You might go back to the Federal return and make sure you have the correct information in the Personal Info/ My Info section regarding your state of residence.
...
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Where are you making this entry? You might go back to the Federal return and make sure you have the correct information in the Personal Info/ My Info section regarding your state of residence.
In any event, if you left California during the year, then the state where you now reside is is where you file as a Resident, and California will be a part-year resident/nonresident return. You will use the same form, Form 540 NR, to report income as a California part-year resident or nonresident.
April 12, 2025
4:48 PM
Topics:
April 12, 2025
4:48 PM
If you had a mortgage previously or somehow accidentally created a blank mortgage interest form (1098), delete the form.
Here's how to check:
Go to Federal > Deductions & Credits > Mortgag...
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If you had a mortgage previously or somehow accidentally created a blank mortgage interest form (1098), delete the form.
Here's how to check:
Go to Federal > Deductions & Credits > Mortgage Interest and Refinancing (Form 1098)> Add/Edit
Delete any information here
April 12, 2025
4:47 PM
I am honestly very confused. It sounds like I kinda understand how to handle RSUs. For ESPP, discount may be reported as income the year you get them. Not the year you sell them? (That income is repo...
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I am honestly very confused. It sounds like I kinda understand how to handle RSUs. For ESPP, discount may be reported as income the year you get them. Not the year you sell them? (That income is reported by brokerage- without adjusting cost basis for discount - and is where double taxing can come in) If they are held long enough they are treated as capital gains - so you can’t adjust the cost basis for discount as income? So for example, one of my transactions was the sale of an ESPP from 2017 (half of the RSUs I got that year) on my 2017 W2 the only thing listed in box 14 is RS-STK (and the amount) this is different from what was on my 2023 (ESPP QD) and 2022 (no espp listed, only RSU PSU) W2s (the other applicable W2s for ESPP sales this year). I’m not sure how to handle RS-STK. I’m not sure what procedure I would need to do for each of the 3 ESPP sales for this year. It doesn’t make sense it counts toward income one year when I acquire them and not count toward income the next? Apologies that I don’t understand
April 12, 2025
4:47 PM
If you did not have a Marketplace policy because you had insurance at work and the policy was cancelled for nonpayment, just omit the 1095-A and see if you are able to file.
April 12, 2025
4:47 PM
You mean credit for taxes paid to the Non-resident state (Michigan) on the resident state (Arizona tax return - yes?
April 12, 2025
4:46 PM
be a turbo tax user for years. I have the same problem . Enter the 1099 R the same as last year. turbo tax thinks that there is a problem. baily tp- 10188 which lower than the 108820. How d...
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be a turbo tax user for years. I have the same problem . Enter the 1099 R the same as last year. turbo tax thinks that there is a problem. baily tp- 10188 which lower than the 108820. How do i correct this problem to file my return before the deline.
April 12, 2025
4:46 PM
You have qualified for the standard deduction, so that amount will be used in the computation of tax until you've entered enough itemized deductions to exceed the standard deduction.
Meaning,...
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You have qualified for the standard deduction, so that amount will be used in the computation of tax until you've entered enough itemized deductions to exceed the standard deduction.
Meaning, the deductions will not change the meter until they are over the threshold. The standard deduction is $29,200 for a joint return and $14,600 for a single person. Once your itemized deductions are more than that, the meter will change with each additional allowable expense.
Here is an article you may find helpful: Standard Deduction vs. Itemized Deductions: Which Is Better?
April 12, 2025
4:45 PM
Did you enter the payment as a payment in TurboTax? If not TurboTax will not recognize payments without being told they were made.
April 12, 2025
4:45 PM
https://www.freetaxusa.com/answers?faq=4539 according to free tax usa you can until 2026
April 12, 2025
4:45 PM
You do not have direct access to forms with online TurboTax. Only desktop download software has forms mode. With online software all of your entries are made via the interview screens. What form a...
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You do not have direct access to forms with online TurboTax. Only desktop download software has forms mode. With online software all of your entries are made via the interview screens. What form are you trying to get to?
April 12, 2025
4:44 PM
Part-Year resident is another consideration: Residing in Michigan January 10th - December 5th January 1st - January 9th in Arizona and December 6th - December 31st in Arizona All earnings earne...
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Part-Year resident is another consideration: Residing in Michigan January 10th - December 5th January 1st - January 9th in Arizona and December 6th - December 31st in Arizona All earnings earned in Michigan Part Year Michigan? Part Year Arizona? No earnings reported in the state of Arizona?
April 12, 2025
4:44 PM
Turbo tax 2024 Premier - I have an inherited 403b. My 1099-R has box 7 (code 4 - death) and the SEP/IRA/SIMPLE box is not checked. When I enter that into Turbo tax, it does not take me to the part wh...
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Turbo tax 2024 Premier - I have an inherited 403b. My 1099-R has box 7 (code 4 - death) and the SEP/IRA/SIMPLE box is not checked. When I enter that into Turbo tax, it does not take me to the part where it asks, "Was it inherited?". I think it assumes that the 403b is mine. In the past, it always took me to the inherited question. If I check the SEP/IRA/SIMPLE box, it takes me to the inherited question, but that is not correct and not what my 1099-R says. Please help me complete this section correctly. Thanks.