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April 8, 2025
5:01 PM
No, as long as you entered it in TurboTax and the change did not affect your IRA contributions, you would not have to amend your tax return.
April 8, 2025
5:01 PM
3 days later and still no response. I thought this site was supposed to help you?
April 8, 2025
5:01 PM
For over 50 years, I clamed him
Topics:
April 8, 2025
5:01 PM
For over 50 years, I clamed him
Topics:
April 8, 2025
5:01 PM
Turbo Tax has submitted my federal and state tax filings and they've both been accepted by the feds and state. However, the Turbo Tax software keeps showing the filings are "transmitting" and I can'...
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Turbo Tax has submitted my federal and state tax filings and they've both been accepted by the feds and state. However, the Turbo Tax software keeps showing the filings are "transmitting" and I can't shut it off. Any ideas on what to do????
April 8, 2025
5:01 PM
I believe the updates have corrected this. Make sure you've downloaded/received all of the updates, then delete the 1099R info you've already entered, then enter it again. Should work!
April 8, 2025
5:01 PM
Hello, I just have a quick question. Still active duty for filing 2024 tax year. I am filing jointly with my spouse and inputted both our W-2s as well as 1099-NEC for individual contractor work ...
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Hello, I just have a quick question. Still active duty for filing 2024 tax year. I am filing jointly with my spouse and inputted both our W-2s as well as 1099-NEC for individual contractor work doing Amazon Flex as a gig. I just want to understand if the 1099-NEC is preventing me from filing without paying the TurboTax Premium Federal fee and State fee although my Active Duty status in the military. Thank you in advance!
April 8, 2025
5:01 PM
You will not be able to file electronically based upon the information you provided. As mentioned earlier, your best option is to amend your 2023 tax return to remove the amounts applicable to 2024 ...
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You will not be able to file electronically based upon the information you provided. As mentioned earlier, your best option is to amend your 2023 tax return to remove the amounts applicable to 2024 and utilize those expenses and correctly prepare your 2024 tax returns. As the deadline is closer, you can opt to extend your tax return, amend the 2023 tax returns, and then you will be able to electronically file your 2024 tax return incorporating the childcare expenses attributable to 2024.
@Hanalei
Cableguy316, you also do not have anything entered for your Child and Dependent Care expenses. Please see my earlier post in this thread from April 7th for the steps you'll need to take to generate Schedule X correctly. If you have the expenses, then Schedule X will prompt you for more information and and if you meet the criteria, it will allow you to electronically file your Hawaii return.
@cableguy316
Helpmedesktopuser, I've tried to download your diagnostic file and am not able to access it. But I suggest looking at my prior suggestions in this thread from April 7th and following the steps as this seems to be the issue on the diagnostic copies I have looked at. If you have a W-2 form with dependent care benefits in box 10, you also need to complete the Child and Dependent Care expenses section. This will then flow into your state return where you will need to answer questions to generate Schedule X.
@helpmedesktopuser
April 8, 2025
5:00 PM
1 Cheer
It is deductible if you aren't covered by a retirement plan at work. IRA Contribution and Deduction Limits. If you are covered by a retirement plan at work, be sure to indicate this in the IRA co...
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It is deductible if you aren't covered by a retirement plan at work. IRA Contribution and Deduction Limits. If you are covered by a retirement plan at work, be sure to indicate this in the IRA contribution section of TurboTax or by checking the box "retirement plan" under neat the area for Box 13.
April 8, 2025
4:59 PM
I needed to add additional 1099R distribution so I filed electronic amended return but IRS rejected it since I didn't include copy of 1099R (I assume. They said my supporting information was incomple...
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I needed to add additional 1099R distribution so I filed electronic amended return but IRS rejected it since I didn't include copy of 1099R (I assume. They said my supporting information was incomplete. the amended return brought my income to $29,000. Now my new amended return STARTS with the $29,000 instead of going back to my original income. Now it says I owe because income is not correct. How do I clear out the wrong original income?
April 8, 2025
4:59 PM
See the link below for instructions on how to update your bank account.
How do I change my transferred direct deposit information?
If you still have issues, you might need to clear your...
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See the link below for instructions on how to update your bank account.
How do I change my transferred direct deposit information?
If you still have issues, you might need to clear your cache. This is to clean your temporary files, because a full or corrupted cache can cause problems in TurboTax. You can try these steps if you are using the online version:
Clearing your Cache and Cookies
Using a different browser
Opening an Incognito Window
Please reach out again if your problem persists.
April 8, 2025
4:58 PM
Topics:
April 8, 2025
4:58 PM
Forms 1099 do not show the amounts that rolled into another, or the same IRA unless it is a "direct rollover" - trustee to trustee. After you enter your 1099-R you will be on IRA summary screen. Be...
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Forms 1099 do not show the amounts that rolled into another, or the same IRA unless it is a "direct rollover" - trustee to trustee. After you enter your 1099-R you will be on IRA summary screen. Be sure to click on "Continue" and the answer the questions. One of the questions will be "What did you do with the money" and one of your choices will be rolled it all into another or the same IRA. Answering that question will keep your distribution from showing as taxable on your tax return.
You say "they did in fact claim me as a dependent last year".
I assume last year means 2024 (what we're working on now).
There are two education credits, American Opportunity Credit (AO...
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You say "they did in fact claim me as a dependent last year".
I assume last year means 2024 (what we're working on now).
There are two education credits, American Opportunity Credit (AOC) and Lifetime Learning Credit (LLC). The AOC is very generous (100% of the first $2000 expenses paid and 25% of the 2nd $2000). The LLC is 20% of tuition paid. There is a four time limit to claiming the AOC, Since graduation year is typically the 5th calendar/tax year, your parent have probably already claimed the AOC 4 times. You should verify that with them.
Using the gimmick of the student reporting some of his scholarship as taxable, so the parents can claim the credit, isn't as beneficial when they can only claim the LLC. The taxable scholarship is subject to the "kiddie tax" (the student pays tax at the parent's marginal tax rate).
You have to do the math to see if this is all worthwhile. Doing trial tax returns is easier using download TT, rather than online. You could try this tool, but it has limits https://turbotax.intuit.com/tax-tools/calculators/taxcaster/?s=1
Bottom line: you do need to report, at least $2775 of your scholarship as taxable. So, yes, you do need to enter your 1098-T. If box 5 of the 1098-T exceeds box 1, TurboTax (TT) will treat the difference as taxable income, unless you enter additional QEE at books and other expenses. It doesn't matter if a relative paid tuition and/or you never touched the money.
April 8, 2025
4:57 PM
I don't understand how you don't see a screen with the title of "Here's what you spent on care providers". After all, you are saying that one care provider that you don't want carried over from last ...
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I don't understand how you don't see a screen with the title of "Here's what you spent on care providers". After all, you are saying that one care provider that you don't want carried over from last year.
On the screen "Here's what you spent on care providers" that Leticia shows above, you have a table of care providers. You can click on delete to the right of a care provider to delete.
Please show us the screenshot of the screen that shows this care provider that you want to delete.
April 8, 2025
4:57 PM
In the Kentucky state income tax return, for a 75 year old taxpayer, Kentucky Schedule M automatically applied the pension income exclusion.
April 8, 2025
4:57 PM
Per Illinois Department of Revenue website:
With Payment:
PO BOX 19027 SPRINGFIELD IL 62794-9027
Per IRS website:
Internal Revenue Service P.O. Box 931000 Louisville, KY 4...
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Per Illinois Department of Revenue website:
With Payment:
PO BOX 19027 SPRINGFIELD IL 62794-9027
Per IRS website:
Internal Revenue Service P.O. Box 931000 Louisville, KY 40293-1000
IRS - Where to file paper tax returns with or without a payment
[Edited 4/08/25 | 5:08pm PST]
April 8, 2025
4:56 PM
You claim the solar panels in the year they were placed in service, even if you are paying over time (as long as it's not a lease agreement). If you can't use the entire credit in the first year, i...
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You claim the solar panels in the year they were placed in service, even if you are paying over time (as long as it's not a lease agreement). If you can't use the entire credit in the first year, it will carry forward.
To qualify for claiming the solar tax credit on your tax return, you’ll first need to meet some eligibility criteria:
Your solar equipment needs to be installed between January 1, 2017, and December 31, 2034.
The solar equipment must be located at a residence of yours within the United States.
The solar equipment is new or being used for the first time (meets the original installation requirement for claiming the credit).
From there, you’ll need to meet one of these two requirements to claim the credit:
Purchase the solar system with cash or through some form of financing that isn’t a lease or an agreement to pay a solar company for electricity generated by the system.
Purchase an interest in a community solar project that is separate from your residential property, if the electricity generated is credited against, and doesn't exceed your home’s electricity consumption.
Click here for Federal Tax Credit for Residential Solar Energy
April 8, 2025
4:56 PM
Unemployment income is generally considered 'Passive' income. You could choose 'General' if you like; it won't make a difference in the calculation of the Foreign Tax Credit amount. For reporting...
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Unemployment income is generally considered 'Passive' income. You could choose 'General' if you like; it won't make a difference in the calculation of the Foreign Tax Credit amount. For reporting your Canadian Unemployment Income as 'Other Taxable Income', you could use the description 'Canadian Unemployment Income'. You can use any description you like. Here's more detailed info on Claiming the Foreign Tax Credit and Form 2555. @Kat271
April 8, 2025
4:56 PM
In early 2024 I realized we had contributed too much to our Roth IRA in 2022 and 2023. We withdrew these excess contributions in January 2024 and received a 1099-R for each of the two separate year’...
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In early 2024 I realized we had contributed too much to our Roth IRA in 2022 and 2023. We withdrew these excess contributions in January 2024 and received a 1099-R for each of the two separate year’s withdrawals. Both 1099-R forms are for 2023. On our 2023 taxes the total of these two excess contributions was entered on line 18 of form 5329, and turbo tax placed the same amount on lines 22 & 24 of form 5329. We had an additional tax amount on line 25, which was paid with our 2023 bill. The excess contributions were withdrawn from our account no longer remains there. Now doing our 2024 taxes Turbo Tax is calculating that we owe this amount again, but we do not as the excess contributions were withdrawn from our account in January 2024. I was not given the opportunity to enter anywhere that we had withdrawn these contributions at any time while going through turbo tax in 2023. I am not sure how to correct this. Here are my questions: 1. Do the 2023 excess contributions need to be reported at all since they were withdrawn before the 2023 filing deadline of 4/15/2024? 2. If not do I amend my 2023 return and exclude the 2023 contribution withdrawal amount? 3. What do I need to do to get this off my 2024 return since we have already paid the penalty AND the excess contributions were withdrawn from our Roth IRA. 4. Since the remaining excess contributions belong to 2022, but were not withdrawn until 2024, does there need to be an amendment to my 2022 return?