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April 12, 2025
11:47 AM
It was rejected and I do not know how to fix
April 12, 2025
11:47 AM
I cannot log into my TurboTax program because it says passkey is linked to another account. I have two recognized ways to log into my Intuit account and it still give same message when I log in. What...
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I cannot log into my TurboTax program because it says passkey is linked to another account. I have two recognized ways to log into my Intuit account and it still give same message when I log in. What do I do?
April 12, 2025
11:47 AM
1 Cheer
Enter the state information from boxes 15 thru 17 from the second W-2 onto the first W-2. Do not enter the second W-2 on your tax return.
April 12, 2025
11:47 AM
I did a like-kind exchange in 2023, and reported that exchange corrected in TT in tax year 2023 e.g., filing form 8424, calculating the new asset basis etc. For depreciation, I kept it simple by...
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I did a like-kind exchange in 2023, and reported that exchange corrected in TT in tax year 2023 e.g., filing form 8424, calculating the new asset basis etc. For depreciation, I kept it simple by opting out the new rule so that the new property is on a new 27.5 year depreciation schedule with combined cost basis (as mentioned in option2 here https://blog.fgg1031.com/blog/how-to-calculate-depreciation-after-a-1031-exchange). I also marked the old property as stopped using it on the date I exchanged it away (which is 2023). I was expecting TurboTax this year should be smart enough to only keep the new property that I received in the exchange. deleting the old property. But it still has both properties. When I first signed in for TurboTax 2024, it imported this old property (that I exchanged away in 2023), and it says "We need to keep these income items… even though we can’t remove them, don’t worry”. But when I work on the income section, there's no income, depreciation, expense (all 0s) from this old property, which seems correct. Should I just go ahead and delete this property? There's no error or warning whatsoever if I do this. But I jus wonder why doesn't TurboTax figure this out already that this property is exchanged away last year and no more depreciation needed from this property (since the new property uses the combined basis on a new 27.5 year schedule, https://blog.fgg1031.com/blog/how-to-calculate-depreciation-after-a-1031-exchange)
April 12, 2025
11:46 AM
how long can I file widowed
April 12, 2025
11:46 AM
Yeah, I made a mistake saying that I did not go through the Market Place after the first rejection so it was accepted without the 8926. Looks I need to call the IRS for guidance as you suggested.
April 12, 2025
11:45 AM
Bulk Edit doesn't work and should. Given the acquired date and cost can be the same for multiple lines on the report, being able to make a bulk change should be allowed. And if it isn't, th...
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Bulk Edit doesn't work and should. Given the acquired date and cost can be the same for multiple lines on the report, being able to make a bulk change should be allowed. And if it isn't, then get rid of the Bulk Update button!
April 12, 2025
11:45 AM
How to mail a return from the Online version https://ttlc.intuit.com/community/printing/help/how-do-i-print-and-mail-my-return-in-turbotax-online/01/26258
April 12, 2025
11:45 AM
1 Cheer
No, do not enter anything under "Your Excess Roth IRA Contributions for Prior Years", this is if you made excess contribution before 2023 and did not remove them.
If you made an excess contribu...
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No, do not enter anything under "Your Excess Roth IRA Contributions for Prior Years", this is if you made excess contribution before 2023 and did not remove them.
If you made an excess contribution in 2024 and withdrew the 2024 excess Roth IRA contribution plus earnings in 2025 before the due date, then you will get a 2025 Form 1099-R in 2026 with codes P and J. This 1099-R will have to be included on your 2024 tax return and you have two options:
You can wait until you receive the 2025 Form 1099-R in 2026 and amend your 2024 return or
You can report it now in your 2024 return and ignore the 1099-R when it comes unless there is Box 4 Federal Tax withholding and/or Box 14 State withholding. Then you must enter the 2025 Form 1099-R into the 2025 tax return since the withholdings are reported in the year that the tax was withheld. The 2025 code P will not add anything to your income in the 2025 tax return but the withholdings will be applied to 2025.
To enter a 2025 Form 1099-R in your 2024 return please follow the steps below:
Login to your TurboTax Account
Click on the "Search" on the top right and type “1099-R”
Click on “Jump to 1099-R”
Answer "Yes" to "Did you get a 1099-R in 2024?"
Select "I'll type it in myself"
Box 1 enter total distribution (contribution plus earning)
Box 2a enter the earnings
Box 7 enter J and P
Click "Continue"
On "Is the IRA/SEP/SIMPLE box on this 1099-R checked?" screen answer "No, the box is blank"?
On the "Which year on Form 1099-R" screen say that this is a 2025 Form 1099-R.
Click "Continue" after all 1099-R are entered and answer all the questions.
Continue until "Did you use your IRA to pay for any of these expenses?" screen and enter the amount of earnings under "Corrective distributions made before the due date of the return".
Please be aware, code P will say in the drop-down menu "Return of contribution taxable in 2023" but you can ignore that since the follow-up question will tell TurboTax that it will be taxable in 2024.
Also make sure you indicate in the IRA contribution interview that you withdrew the excess contribution by the due date:
Click on "Search" on the top right and type “IRA contributions”
Click on “Jump to IRA contributions"
Select “Roth IRA”
Enter the Roth IRA contribution
Continue until the penalty screen and enter the excess contribution amount withdrawn.
April 12, 2025
11:45 AM
I'm going through the rejection process also. How did you fix it? Also, they debited my account and I dont have anything to show for it! Very inconvenient.
April 12, 2025
11:45 AM
If you elect to have TurboTax do the splits, it will split Mortgage Interest and Property tax for you correctly between rental and Schedule A, if you enter them in the Rental section first. For othe...
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If you elect to have TurboTax do the splits, it will split Mortgage Interest and Property tax for you correctly between rental and Schedule A, if you enter them in the Rental section first. For other expenses, whatever amount you enter will get split. So you could enter whole-house insurance, utilities, etc. and they will be split. But for expenses that are just for the rental, whatever amount you enter will also be split.
The 'in service' date is the only date you need to worry about. If you state an 'in-service' date of 04/04/2024, for example, expenses are pro-rated for the year. It doesn't matter whether the house was not rented for periods, only that it was 'available for rent' during the period, so no worry about counting days actually rented. Be sure to say 'yes, it was rented all year' (which means from the 'in-service date).
@jasonsriche
April 12, 2025
11:44 AM
You are either really close or have it. They should be on the same sch E. You should only have one Sch E but will also have worksheets.
Box 1 rent does create a Sch E page 1 for renting out th...
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You are either really close or have it. They should be on the same sch E. You should only have one Sch E but will also have worksheets.
Box 1 rent does create a Sch E page 1 for renting out the right to explore.
Box 2 royalty does create Sch E page 1 for royalty income. The royalty is listed as code 6 for property type on line 1b.
Reference: Instructions for Schedule E (Form 1040)
Here are some screenshots. I have two royalties listed with the rent.
April 12, 2025
11:44 AM
Yes, you are 100% clear. You can do it exactly like that to have one rental activity for the same property, using the partial rental portion for the first part of the year, and then the entire proper...
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Yes, you are 100% clear. You can do it exactly like that to have one rental activity for the same property, using the partial rental portion for the first part of the year, and then the entire property for the remainder of the year. As a reminder, keep the total depreciation amount used for the two rooms from start to finish. This is all you will need later when you sell the property from that time period.
April 12, 2025
11:44 AM
well-being how box 1 on your w-2 is your taxable income for the year, and since your second w-2 has no income reported on it, just don't even bother with your second w-2. That is unless you feel you ...
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well-being how box 1 on your w-2 is your taxable income for the year, and since your second w-2 has no income reported on it, just don't even bother with your second w-2. That is unless you feel you will get a much larger return or that it would make that much more of a difference. but I still don't see how you can have a w-2 with taxes taken out being listed in the other boxes and yet no income in box 1. it seems to me like you need to either contact that employer after you file an extension because i highly doubt they will have time to get you an amended w-2 before the 15th, or if it's not that much just skip it like it never existed, as long as you don't owe the state or the greedy feds anything it doesn't really matter either way what you do with it
April 12, 2025
11:43 AM
It's unlikely that the amount coming from Form 5329 is the result of entering the code-G From 1099-R. Review Form 5329 to see the source of the penalty. Make sure that you have not reported the ...
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It's unlikely that the amount coming from Form 5329 is the result of entering the code-G From 1099-R. Review Form 5329 to see the source of the penalty. Make sure that you have not reported the rollover as being an IRA contribution.
April 12, 2025
11:42 AM
Your itemized deductions have to be more than your standard deduction before you will see a change in your tax owed or tax refund. The deductions you enter do not necessarily count “dollar for dolla...
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Your itemized deductions have to be more than your standard deduction before you will see a change in your tax owed or tax refund. The deductions you enter do not necessarily count “dollar for dollar;” many of them are subject to meeting tough thresholds—medical expenses, for example, must meet a threshold that is pretty hard to reach. (Only the amount that is MORE than 7.5% of your AGI counts) The software program uses all the IRS rules that apply to the expenses you enter, and it tells you if you have enough to use your itemized deductions or if using the standard deduction is more advantageous for you. Under the tax laws that have been in effect since 2018, some deductions have been capped—there is a $10,000 limit to the itemized deductions for state, local, property and sales taxes.
The standard deduction makes some of your income “tax free.” It is not a refund. You will see your standard or itemized deduction amount on line 12 of your 2024 Form 1040.
2024 STANDARD DEDUCTION AMOUNTS
SINGLE $14,600 (65 or older/legally blind + $1950)
MARRIED FILING SEPARATELY $14,600 (65 or older/legally blind + $1550)
MARRIED FILING JOINTLY $29,200 (65 or older/legally blind + $1550)
HEAD OF HOUSEHOLD $21,900 (65 or older/legally blind + $1950)
April 12, 2025
11:42 AM
Did you make any other IRA contributions? I'll page @dmertz
April 12, 2025
11:42 AM
oh thanks so much! that was silly of me. 😅