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Social Security Retirement/Disability/Survivors benefits are reported on a form SSA-1099 and the benefits received are to be entered on a federal tax return. The benefits may be taxable depending on the amount of other income you have entered on your tax return. However, if the Social Security benefits is the Only income to be reported on the tax return and there is no federal income taxes being withheld, then there is no reason or need to file a tax return.. Unless you also received a Form 1095-A for your health insurance through one of the State Marketplace Exchanges or from healthcare.gov then you must file a tax return.   To enter Social Security benefits reported on form SSA-1099 Click on Federal Taxes (Personal using Home and Business) Click on Wages and Income (Personal Income using Home and Business) Click on I'll choose what I work on (if shown) Scroll down to Retirement Plans and Social Security On Social Security (SSA-1099, RRB-1099), click the start or update button

Are you in the review?   What does the screen say?   If everything looks okay, can you scroll down and click Continue or is there a error message you see?   You can reply with a screenshot if that is easier - if you send a screenshot, please don't include any personal identifying information!  

There is no Payer TIN or EIN on the Form SSA-1099.  You are in the wrong section of the program if being asked for that information.   To enter Social Security benefits reported on form SSA-1099 Click on Federal Taxes (Personal using Home and Business) Click on Wages and Income (Personal Income using Home and Business) Click on I'll choose what I work on (if shown) Scroll down to Retirement Plans and Social Security On Social Security (SSA-1099, RRB-1099), click the start or update button

Just wanted to share an RMD error loop that I had with a cx. Cx had two inherited Retirement accounts were both account distributed RMD to her every November. The software didn't allow one of them the question of whether or not an RMD was taken. It will loop an error for cx to take the RMD during the corrective window an access an error.                                                                       Here is the fix :                                                                                                                                                                                                                                                                          Please go thru Federal Review first --> Errors below                                                                                                             (1) Did you withdraw RMD during correction box? Let's answer Yes here (need to go back to change after answering #2) 2) Entire gross  applied to 12/31/24 RMD: YES 3) #1 error will re-appear. And we need to say NO After this, it should clear errors away

Either method will work well. Don't report it as a 1099 NEC but as a 1099 MISC.  In this case, it may work best if you report it in the manner I described and identify it as 1099 MISC Real Estate Rebate and then record the amount.   @ghostrider25 

I think you mean you have blank 1099-NEC forms carried over from previous years in your program. You can delete them by following these steps:   1. Choose the Tax Tools option on your left menu bar while working on your return 2. Choose Tools 3. Choose the Delete a form option under Other Helpful links  4. Find the errant Forms 1099-NEC in your list of forms and delete them

Let's go through the questions one at a time. Please review your answers with mine. Do you financially support someone, yes Who do you support? another person, drop down box appears, select grandchild Enter name and birth date How many months with you? The whole year - if they were less than the whole year, they would not qualify How many in the US? The whole year Did they pay for more than half of their living expenses?  No, they did not pay for themselves, you did. Did a relative help? No Good news, you get a tax break        

Correct. the problem is that Turbotax calculates tax for a whole year and then you dont have an option to adjust that tax to 43%(in my case) . Even turbotax customer service specialist couldn’t get to that part. we have put a correct allocation,correct NYC tax,correct residency date,correct 180 days of being a resident… the total tax is calculated for the whole year(which is correct) and after that you just wrap up your taxes for Ny state without any % allocation manual or automatic adjustment 

Does the lump sum distribution count as the RMD (or make an RMD unnecessary)? My mother died in 2023, but i received the lump sum distribution from her annuity in 2024. I contacted the plan administrator, but they dont have any RMD information for 2024 since the plan was closed out. I did not rollover the distribution, just took the lump sum and i am unsure of what to put for the RMD for 2024.