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May 1, 2025
2:50 PM
Good afternoon, I’m replying to this because I’m searching online to see if anyone else has had this same problem with their data files disappearing, And it seems at least someone else has. It ha...
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Good afternoon, I’m replying to this because I’m searching online to see if anyone else has had this same problem with their data files disappearing, And it seems at least someone else has. It happened to me last year and it happened again this year. Without going into the hours I spent trying to figure this out, I’ll just explain it briefly. After completing all my taxes, I went back into the program when CRA asked for more info on something. I could see the tt24 files as recent, but they did not exist, 0bytes in the file and 0 bytes in the PDF. In the end, I had to run the computer as an admin and launch the program from there to see the files, they were not available as just a regular user on the computer, even though that’s where the returns were done. Hopefully this helps someone who might have a similar situation in future! (Thanks Dan!)
May 1, 2025
2:48 PM
You can file a corrected W2 online with the Social Security administration directly.
Here is where to do that.
The reason it doesn't really matter to the Social Security administration is...
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You can file a corrected W2 online with the Social Security administration directly.
Here is where to do that.
The reason it doesn't really matter to the Social Security administration is because you paid the correct amount of Medicare withholding with your 941 payments. So they got the correct amount. The incorrect number is on the employee's W2 and it may cause them some trouble when they file their taxes. So you can correct the employee's W2 and hand them the correction and keep the corrected W2 in your file in case the SSA ever asks about it. But if they told you you didn't need to file I wouldn't worry about it.
@NolaGirl15
May 1, 2025
2:46 PM
After being on hold for 94 minutes with Turbo Tax, the representative told me to go into my Account, click on "any year and licenses and download" which took me to the next page. I put in the field ...
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After being on hold for 94 minutes with Turbo Tax, the representative told me to go into my Account, click on "any year and licenses and download" which took me to the next page. I put in the field the License Key, per her suggestion, but it does not bring me to a download option. It says "unable to retrieve." I suggested to her that perhaps it was because I bought it at Costco that year, and she said no. It should come up. What do I do now? Any suggestions?
Topics:
May 1, 2025
2:46 PM
I do not have the black bar.
May 1, 2025
2:40 PM
1. A state tax rebate is not taxable income on your federal return.
2. A large state tax refund may be taxable later, if you itemized your deductions.
For example, suppose you have $5000 of s...
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1. A state tax rebate is not taxable income on your federal return.
2. A large state tax refund may be taxable later, if you itemized your deductions.
For example, suppose you have $5000 of state tax withholding in 2025 that you enter on your schedule A as an itemized deduction. Then, because of the $2000 state tax credit, you get a $2000 state tax refund that is paid in 2026. That tax refund may be taxable income in 2026 as a reimbursement of a previous deduction, depending on your other income and deductions.
3. If you claim a federal tax credit on the device, you must reduce the price of the equipment that you claim on your federal return if the rebate was from the utility, or was a subsidy such as for low income taxpayers. However, if this is an expected income tax credit, you do not need to reduce the price when you claim the federal credit.
May 1, 2025
2:39 PM
Are you trying to import these 1099-Rs from your broker? You talk about TurboTax entering numbers for you. These need to be manually entered by you. If you decide you want to do it as 3 1099-Rs or...
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Are you trying to import these 1099-Rs from your broker? You talk about TurboTax entering numbers for you. These need to be manually entered by you. If you decide you want to do it as 3 1099-Rs or 2 that is fine.
But you can't do a backdoor Roth for more than $7000 and you are ignoring good advice from @dmertz above.
@TomDx
May 1, 2025
2:30 PM
Taxpayers in qualified disaster areas can file an extension for tax year 2024 until today, May 1, 2025, by mail only. These requests can't be e-filed after April 15, 2025. See the IRS reminder here f...
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Taxpayers in qualified disaster areas can file an extension for tax year 2024 until today, May 1, 2025, by mail only. These requests can't be e-filed after April 15, 2025. See the IRS reminder here for more info. Download and print Form 4868, fill it out, and get it postmarked for May 1, 2025 to be considered timely. Payment and mailing instructions are on pages 3 and 4 of your printout.
May 1, 2025
2:29 PM
There is a federal tax credit available for heat pumps. You can find out more about it, here. If you pay for energy upgrades in 2025, you will be able to take the credit on your federal return wh...
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There is a federal tax credit available for heat pumps. You can find out more about it, here. If you pay for energy upgrades in 2025, you will be able to take the credit on your federal return when you file your 2025 tax return (in 2026).
And there are other incentives (rebates) through the state of Massachusetts. You can find out more about those here.
May 1, 2025
2:26 PM
Shouldn't I have 3 1099-R's? One for the conversion of the correct backdoor Roth, One for the recharacterization of Roth contribution made in error, and One for the conversion of the recharacterizat...
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Shouldn't I have 3 1099-R's? One for the conversion of the correct backdoor Roth, One for the recharacterization of Roth contribution made in error, and One for the conversion of the recharacterization amount? My Vanguard account says I contributed $8,000 in 2024.
May 1, 2025
2:25 PM
If you didn't file a 2023 tax return and you made enough to be required to file then yes, you need to file your 2023 tax return. Here is where you do that with TurboTax.
@Diddynotdiddler
May 1, 2025
2:25 PM
Once your return is filed, TurboTax has no control over the processing of your return or the release of your refund.
Here are a couple FAQs to track your refund: When will I get my federal tax...
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Once your return is filed, TurboTax has no control over the processing of your return or the release of your refund.
Here are a couple FAQs to track your refund: When will I get my federal tax refund? How do I track my state refund? Why does Where's My Refund say "approved" but TurboTax still says "accepted"?
Why do some refunds take longer than others?
What if my IRS refund is taking longer than 21 days?
May 1, 2025
2:20 PM
I will also point out that stopping the free employer money is between you and the employer. If you continue to take the free employer money, you will have money in the HSA to pay for medical expens...
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I will also point out that stopping the free employer money is between you and the employer. If you continue to take the free employer money, you will have money in the HSA to pay for medical expenses or withdraw as excess. It will be added to your taxable income (as if your employer had given you a raise instead of putting money in your HSA) but you won't pay a penalty if you spend it for qualified medical expenses or withdraw it as excess contributions. The IRS does not require you to send the money back to your employer. Any obligation to your employer is between you and them only. (For example, if you have to certify you are eligible to get the free money, you might get in trouble if you don't tell them otherwise. But that's between you and them, the IRS doesn't care.)
May 1, 2025
2:15 PM
You are correct that you are ineligible to contribute for all of 2025 because of your spouse's FSA.
You can spend the money already in the HSA if you have qualified medical expenses. The rul...
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You are correct that you are ineligible to contribute for all of 2025 because of your spouse's FSA.
You can spend the money already in the HSA if you have qualified medical expenses. The rules for spending are separate from the rules for contributing. If you can spend the money for qualified medical expenses before Dec 31, 2025, you will avoid any penalties.
You should stop any voluntary contributions ASAP. You should also tell your employer you are not eligible for their free matching contribution.
The ineligible contributions (both voluntary and employee) will be added to your taxable income at the end of the year, because they are not eligible for a tax-free contribution. However, there is no additional penalty for making the contributions.
If you have funds remaining in the account at the end of the year that you are unable to spend on qualified medical expenses you have two options:
A. leave them in the account and pay a 6% penalty. This might be a good choice if you plan to be HSA-eligible in the future (such as your wife declines the FSA for 2026) because you can apply the excess contriubiton from 2025 towards your 2026 limit.
B. remove the funds from the account by asking the bank for a "return of excess contributions". The returned contributions are not taxable again (because you lost the tax deduction for the contributions already) but you would have to report as taxable income, any interest you earned on the excess.
But, if you can use up the excess with qualified medical expenses, there won't be a 6% penalty because the penalty is charged on the amount of excess contribution or the remaining balance, whichever is less.
May 1, 2025
1:55 PM
@taxpayer2301 Two things: 1. Can you generate a token for your originally filed tax return as well? 2. Do you remember the sequence of how you started amending? Did you save as and then use the ...
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@taxpayer2301 Two things: 1. Can you generate a token for your originally filed tax return as well? 2. Do you remember the sequence of how you started amending? Did you save as and then use the original file to amend, or did you save as, and use the new file to amend?
Thank you!
May 1, 2025
1:55 PM
Background: * My benefits year is May 1, 2024 - Apr 30, 2025. * I have an HDHP with HSA from my employer * My employer contributes $250/mo to the HSA whether I contribute or not. * I have been ...
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Background: * My benefits year is May 1, 2024 - Apr 30, 2025. * I have an HDHP with HSA from my employer * My employer contributes $250/mo to the HSA whether I contribute or not. * I have been matching that contribution of $250/mo * My wife enrolled in an FSA plan at her employer which started in Jan 2025 * My wife's benefits year is Jan-Dec. What I've learned in the last month is that her FSA starting in January made me ineligible to contribute to the HSA in 2025. Her employer won't let her unwind the FSA, so I'm stuck with it. I can obviously stop my contributions to the HSA, but I (and my employer) have already contributed for 4.5 months this Tax year. All the money is still there. We haven't spent it and I've stopped using the money in the account until this is settled. I think these are my options, please correct me or point out any others: Mark myself ineligible at my employer. This will stop theirs and my contributions. Then, file the excess contribution form for both our contributions made from Jan-now, before filing for TY25. This means I'll technically lose some of my total compensation because they won't shift the remaining HSA payments to my regular income (I asked). Not great, but it's not the end of the world. Same as option 1, but I ask the HR dept to instruct the HSA administrator to return their contributions. Then I just have mine to file for excess. Set my contribution moving forward to zero. Allow my employer's contributions to continue and file an excess contribution form to withdraw all the money that went in there from Jan-Dec prior to filing my TY2025 return. I think this means I'll just have to pay taxes on that income like it's regular income. Is there anything I'm missing? I've a pretty solid grasp of basic taxes, but this is above my head. What penalties should I be looking forward to? I presume I should adjust my witholdings to account for increased AGI from the excess contributions, but is there anything else I need to prepare for?
Topics:
May 1, 2025
1:53 PM
I thought it was May 1, but turbo tax isn't letting me file one.
May 1, 2025
1:42 PM
Since I'm self-employed, I generally don't get a refund. Unusual circumstances led to my getting a refund check. I can't see the point in opening a joint account for what would be a rare occurrence ...
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Since I'm self-employed, I generally don't get a refund. Unusual circumstances led to my getting a refund check. I can't see the point in opening a joint account for what would be a rare occurrence and for what is a very small refund. Given the amount, I'd settle for just cashing the check.
May 1, 2025
1:42 PM
@Ric18 gma wrote:
please send me a copy federal 2023
You are the only one that can access a copy of your tax return -
To access your prior year online tax returns sign onto the Turbo...
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@Ric18 gma wrote:
please send me a copy federal 2023
You are the only one that can access a copy of your tax return -
To access your prior year online tax returns sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/
Start the 2024 online tax return by entering some personal information then click on Tax Home on the left side of the screen.
On the Tax Home webpage -
Scroll down to the section Your tax returns & documents. Click on the Year 2023 and Click on Download/print return (PDF)
If you used the desktop CD/Download editions installed on your computer, the only copy of your tax data file and any PDF's will be on the computer where the return was created. TurboTax does not store online any returns completed using the desktop editions.
Or go to this IRS website for free federal tax return transcripts - https://www.irs.gov/individuals/get-transcript
For a fee of $30 you can get a complete federal tax return from the IRS by completing Form 4506 - http://www.irs.gov/pub/irs-pdf/f4506.pdf
May 1, 2025
1:40 PM
Do i have to add them