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The Required Minimum Distribution (RMD) amount is not normally listed on Form 1099-R. Instead, you can find the RMD amount on Form 5498. Form 5498 is typically provided by your plan administrator and includes information about your retirement account contributions and fair market value, including the RMD amount. To confirm the amount of your RMD: Check Box 12b on Form 5498 for the previous year. You can find more details on the IRS website here. If you haven't received Form 5498, contact your plan administrator.

You can add any qualified nonrecurring closing costs from the purchase to your basis in the home. Your adjusted basis in your personal residence is generally your cost in acquiring your home (the original purchase price plus any nonrecurring closing costs such as escrow fees) plus the cost of any capital improvements you made, less casualty loss amounts and other decreases. The amount of any original or refinanced mortgage is not part of the calculation. For more information on basis and adjusted basis, refer to Publication 523, Selling Your Home.    Some settlement fees and closing costs you can include in your basis are: Abstract fees (abstract of title fees), Charges for installing utility services, Legal fees (including fees for the title search and preparing the sales contract and deed), Recording fees, Survey fees, Transfer or stamp taxes, and Owner's title insurance.   Settlement costs don’t include amounts placed in escrow for the future payment of items such as taxes and insurance.   If you don't have your original escrow closing documents, you could contact your lender or real estate professional. You could also check with your local tax assessor's office to find any deeds that were recorded regarding the original purchase.   If you sold your main home during the current tax year, TurboTax can determine if you need to report the sale on your tax return. Generally, profits of up to $250,000 (up to $500,000 on a joint tax return) don't need to be reported to the IRS. TurboTax can figure this out for you.   To enter the sale of a personal residence in TurboTax Online:   Click on Federal Taxes Click on Wages and Income Scroll down to Less Common Income On Sale of Home (gain or loss), click the start or update button If your gain on the sale will be less than the applicable limit, and if it was never used for business or as a rental, and you didn't receive a Form 1099-S, you don't need to report the sale on your return at all. Not having to report the sale could save you from needing to upgrade your TurboTax product.   See this article for more information on determining the gain on the sale of your home.  

She may not need to file a tax return. In 2024, if she made less than $14,600 (and less than $400 of self-employment income), and did not have federal income taxes withheld that she'd like a refund of, then a federal tax return isn't required.  The state rules vary, so you'll need to check your state rules to see if she is required to file a state return. If you end up claiming her as a dependent, be sure she checks the box that someone else can claim her as a dependent in the TurboTax interview.   Whether she can claim herself depends on a few things.  If she provided more than half of her own support she'll claim herself and tax the education credit, otherwise (as long as she meets all the other requirements for a dependent, below) you will claim her as a dependent and take the education credit, if you qualify.   Here are the rules for a qualifying child, from Rules for Claiming Dependents on Taxes:   "Are they related to you? The child can be your son, daughter, stepchild, eligible foster child, brother, sister, half-brother, half-sister, stepbrother, stepsister, adopted child or an offspring of any of them. Do they meet the age requirement? Your child must be under age 19 or, if a full-time student, under age 24. There's no age limit if your child is permanently and totally disabled. Do they live with you? Your child must live with you for more than half the year, but several exceptions apply. Do you financially support them? Your child may have a job, but they cannot provide more than half of their own support."

In my particular case, I had a value on Line 29 of 8962.  To get the math to match TurboTax, I had to take wsparrowhood's "Step 1" amount and ADD it to the "Step 2" amount.  NOTE that TT fills in the form 8962 by rounding EACH month up or down as appropriate from the values you enter into the 1095-A.  Compare your 1095-A actuals to TT's form 8962 entries and you'll note this to be true.  It's the TT rounding that is throwing us all off a few bucks up or down.  Right clicking on the value TT places at line 2b of the Medical Expenses worksheet and then hitting "Data Source" brings up a dialogue box that tells you more about how TT does the math.

Hello!  no I don’t believe any of my income is subject to other taxes. Just what is shown on my W2 (federal tax withheld, SS tax withheld, Medicare tax withheld, state income tax). No self employment - and all my income is on my 1 W2.  Georgia is the only state included on my return - single filer, standard deduction (14,600). The token number is 1305491.  thank you for your help! 

What is $45?   It is $25 to efile a state return.   It is $45 if you need to buy a second different state PROGRAM like to buy Oregon when you already had California for free.  Then it is still $25 to efile each state (in addition to the 45).  Or you can print and mail state for free. OR the $45 could be the Extra Refund Processing Service charge in California IF you want the efile fee deducted from a federal refund.   Then it would be $25+45=$70.  Which you can avoid by paying the fee upfront with a credit card.   

Unbelievable. The intuit employees responding here are not understanding the issue at all!   Turbox says it is importing forms from Ally. Then says it has successfully imported the information. But it has only imported part of the information. Further, a user has no way of knowing it imported only a part of the information (only the first "account" since ally does a new account for each CD). You will realize this only if in some obsessive-compulsive neurosis you decided to manually tally the manual pdf (AND went beyond first few pages) to realize you had a lot more interest income than turbotax imported).  Can someone higher up in the chain at intuit read the full thread? I am not a lawyer, but this may be class-action suite territory. (Does that wake you up?)

To file your business taxes DIY using TurboTax, follow these steps:   Gather Necessary Documents: Collect all records related to your business earnings and expenses. This includes receipts, invoices, bank statements, and any other financial documents Choose the Right TurboTax Product: TurboTax Home & Business: Ideal for sole proprietors and 1099 contractors. TurboTax Business: Suitable for corporations, partnerships, and LLCs Enter Business Information: Navigate to the business section in TurboTax. Answer questions about your business income and expenses. TurboTax will guide you through the process and fill in the appropriate forms For more detailed guidance, you can refer to TurboTax's small business tax filing guide here and the IRS e-file options for business taxpayers here.