turbotax icon
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

All Posts

Do you have a license code or an activation code? A License Code, is for Desktop software which will allow for 5 efiles.   If you have an Activation Code, this is for Online software which only a... See more...
Do you have a license code or an activation code? A License Code, is for Desktop software which will allow for 5 efiles.   If you have an Activation Code, this is for Online software which only allows for one file.  
my total Miscellaneous income is $0 but as I have a negative entry(to offset positive entry), turbotax is not able to let me e-file it. Below is the example.   Miscellaneous income section Realt... See more...
my total Miscellaneous income is $0 but as I have a negative entry(to offset positive entry), turbotax is not able to let me e-file it. Below is the example.   Miscellaneous income section Realtor Rebate offset = -$1000  Realtor Rebate(1099 MISC) = $1000  Total Miscellaneous income = $0
Good day, y'all.   So, I have a W2, 1042-S, and two 1098-Ts.   The moment I insert the 1098-Ts into TurboTax I go from having a refund to owing several thousand dollars in taxes, both federal and... See more...
Good day, y'all.   So, I have a W2, 1042-S, and two 1098-Ts.   The moment I insert the 1098-Ts into TurboTax I go from having a refund to owing several thousand dollars in taxes, both federal and state.   What am I doing wrong?
My ohio state taxes keep getting rejected -error OH-PIT-046. How do I fix that? What does that indicate?
Yes you can post the Charitable Contribution to your Itemized deductions, but it will take more than that to qualify for the itemized deduction options. It my look like you should be getting Itemiz... See more...
Yes you can post the Charitable Contribution to your Itemized deductions, but it will take more than that to qualify for the itemized deduction options. It my look like you should be getting Itemized deductions based on the raw numbers,  but after crunching the numbers it may not be the best choice for you.   There have been many changes to the Itemized deduction limitations.  Here are some of the limitations to Itemized deductions Medical expenses: You can only deduct the amount of your medical and dental expenses that is more than 7.5% of your AGI. Mortgage Interest:  You can deduct the interest you paid during the tax year on the first $750,000 of your mortgage debt for your primary home or a second home. If you are married filing separately, the limit drops to $375,000. Local Taxes: Your deduction of state and local income tax, general sales, and property taxes is limited to a combined total deduction of $10,000 ($5,000 if married filing separately). Business expenses for employees is no longer allowed. There may be other limitations that are not listed. Finally, the total of all deductions must be greater than the Standard deduction. The standard deduction amounts for 2024 are: $29,200 – Married Filing Jointly or Qualifying Surviving Spouse $21,900 – Head of Household $14,600 – Single or Married Filing Separately For 2024, the additional standard deduction amounts for taxpayers who are 65 and older or blind are: $1,950 for Single or Head of Household $1,550 for married taxpayers or Qualifying Surviving Spouse You can also see: The difference between standard and itemized deductions, and what they mean
I deleted 2 forms regarding the school district but now it is asking me to fill this out, but I still am a current resident: Form SD 100: Residency end date -- Ohio requires that you account for you... See more...
I deleted 2 forms regarding the school district but now it is asking me to fill this out, but I still am a current resident: Form SD 100: Residency end date -- Ohio requires that you account for your residency for the full year. Based on your entries, we calculate that you have only accounted for 1 in the year. Please review your entries and adjust.
A 1099-R is usually issued for a QLAC distribution, not a 1099-Q. Yes, a 1099-R usually must be reported/entered.    The 1099-Q is used to report distributions from an educational savings account... See more...
A 1099-R is usually issued for a QLAC distribution, not a 1099-Q. Yes, a 1099-R usually must be reported/entered.    The 1099-Q is used to report distributions from an educational savings account. 
To clarify, why is your Miscellaneous income negative?  If you enter the 1099 NEC information, and then offset the entry, it should be zero. Is there other miscellaneous income reported besides these... See more...
To clarify, why is your Miscellaneous income negative?  If you enter the 1099 NEC information, and then offset the entry, it should be zero. Is there other miscellaneous income reported besides these entries?
You are correct, you should not put the household employment taxes on Form 1041.  When a revocable (grantor) trust pays the expenses for a household employee the employment taxes should be filed in t... See more...
You are correct, you should not put the household employment taxes on Form 1041.  When a revocable (grantor) trust pays the expenses for a household employee the employment taxes should be filed in the Grantor's name using Schedule H on the Grantor's form 1040. The state employment tax accounts (for  Unemployment and Withholding taxes) will should also be in the Grantor's name.  In other words, the Schedule H goes is filed with your son's tax return, not the Form 1041.  
Employers can put just about anything in box 14; it's a catch-all for items that don't have their own dedicated box on the W-2. If none of the categories apply, select Other. Retirement deduction... See more...
Employers can put just about anything in box 14; it's a catch-all for items that don't have their own dedicated box on the W-2. If none of the categories apply, select Other. Retirement deductions in Box 14 are usually contributions made with after-tax dollars. 
Filing 1040-X, due to missed 1099-DIV, and I printed out the 1040-V form for Federal and the voucher has the Kansas City, MO address in the mail in portion, but the top has the Louisville, KY address... See more...
Filing 1040-X, due to missed 1099-DIV, and I printed out the 1040-V form for Federal and the voucher has the Kansas City, MO address in the mail in portion, but the top has the Louisville, KY address. I'm guessing this is a mistake in the program and it should be the Louisville, KY address. Secondly, the program is doing an audit check and getting somewhat confused on the IL portion as I have to file the Federal and have it accepted 1st? Guessing I have to come back to the program after I get an acceptance from Federal? 
If you've completed entering all your information Log into TurboTax On the left sidebar select File This will bring up the three steps required to complete the filling process  
Yes, if you itemizing and you are using the actual sales tax method you can include the sales tax on your vacation.  Anything you purchased that was a large purchase counts as a major purchase if you... See more...
Yes, if you itemizing and you are using the actual sales tax method you can include the sales tax on your vacation.  Anything you purchased that was a large purchase counts as a major purchase if you paid sales tax on it. It can be a luxury item, a practical item or anything in between.  If you are using the optional method then you cannot add the sales tax for major purchases unless they are specified on page 6 line 7 of the instructions., such as a boat, car, or home.  The amount you can claim is based on the table using your income and location. Schedule A Instructions See page 12  In addition, you can only claim this if you are itemizing your return.  This also replaces the State and Local Income tax deduction.  You cannot claim both sales tax and income tax, it is either one or the other.  Itemized expenses include mortgage interest, gambling losses up to winnings,  charitable contributions, state and local taxes up to $10,000, medical expenses in excess of 7.5% of your AGI and casualty and losses in excess of 10% of you AGI with the first $100 not counting towards the loss.     Then your total itemized expenses would need to be greater than your standard deduction below in order to benefit from your expenses.    The 2024 Standard Deductions are as follows: Married Filing Joint (MFJ)              $29,200 Married Filing Separate (MFS)      $14,600 Head of Household (HOH)             $21,900  Single                                                 $14,600                                 Blind or over 65 and MFJ or MFS add $1,550 Single or HOH if blind or over 65 add $1,950     Standard versus Itemized Deduction (Edited 4/10/025 @ 11:37AM PST) @neilp11 
I have two rental properties.  One needed a new central A/C (~$5700) so that was filed as an improvement to be depreciated over 27.5 years. The other rental needed a new appliance last year (~$750... See more...
I have two rental properties.  One needed a new central A/C (~$5700) so that was filed as an improvement to be depreciated over 27.5 years. The other rental needed a new appliance last year (~$750) so I'm thinking that would probably be filed under appliance to be depreciated over 5 years.  However TurboTax is prompting me to see if I can deduct this as an expense with: "This is an annual election that lets you deduct these items as expenses rather than depreciating them over multiple years.  Keep in mind this election will be applied toward all of your businesses, rental properties, and/or farms so factor those in too. You can do this if: -- You have a consistent process for how you record expenses and assets. -- The cost of some items, as shown on your receipts, is $2,500 or less. Do both of these apply to you?" The part I am hung up on is "this election will be applied toward all of your rental properties"  Does selecting this somehow interfere with the A/C capital improvement?  Or does this standalone as just expensing the $750 appliance for the other property.
The Desktop Software allows for efiling 5 returns, not the online version. Do you have TurboTax Desktop or Online?   If you have a License Code, this is for Desktop software; and if you have an A... See more...
The Desktop Software allows for efiling 5 returns, not the online version. Do you have TurboTax Desktop or Online?   If you have a License Code, this is for Desktop software; and if you have an Activation Code, this is for Online software.   These are different software's and codes from one cannot be used in the other one.    For TurboTax Online, you can activate your code to your account on this link.    For TurboTax Desktop, you can download/install your software from this link. 
*update - By using Amend option, I was able to go back and check my filing. I did everything right- everything was typed in. I don't know why my final tax filing doesn't show all the trades. I am so ... See more...
*update - By using Amend option, I was able to go back and check my filing. I did everything right- everything was typed in. I don't know why my final tax filing doesn't show all the trades. I am so confused.      Hi, After I filed my tax, I realized that on my 8949 form, some of my trades are missing. I used Ally bank to trade, and the Turbotax only recorded my losses but not my gains.   It also didn't specify which stock I bought and sold, but only summary of my losses.(It says "Ally -see attached Statement")   Does this mean Turbotax didn't pick up all of my winning trades and not reported it to IRS??? (I imported my 1099 to Turbotax and I double checked it. I don't know what happened.) My total gain is only $108. It's not much at all.   Should I amend return or is this how it is supposed be done(only reported my losses for a reason?) Thanks.
Yes, I agree with baldietax. In addition to the interest income, there were sales of your US treasury Bonds that is considered  ordinary or capital gain income depending on the nature of the sale.