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  Social Security is still being taxed as it was in the past;    However, there's a new $6,000 deduction for individuals older than 65 years old.  Also, a $12,000 deduction would apply to coupl... See more...
  Social Security is still being taxed as it was in the past;    However, there's a new $6,000 deduction for individuals older than 65 years old.  Also, a $12,000 deduction would apply to couples who qualify.   This deduction is for qualified individuals. Age: You must be 65 or older by the end of the tax year (e.g., born before Jan 2, 1961, for 2025 returns). Income Limits: Your Modified Adjusted Gross Income (MAGI) must be below certain thresholds (e.g., $175k single, $250k joint for 2025), with Deductions phasing out above those levels. Benefit: Up to $6,000 (single) or $12,000 (joint) Additional standard deduction to reduce taxable income.  Deduction phases out for taxpayers with modified adjusted gross income over $75,000 ($150,000 for joint filers). The full taxable amount is included in your gross income on Form 1040; however, the Senior Deduction is reflected on line 13b.  It is reflected on Schedule 1A, Part V, Line 37  For more information, see Deductions for Seniors.  
The “senior deduction” is added automatically by the software based on the date of birth and filing status you entered into MY INFO.  You do not need to take any extra steps to enter it. (And…the new... See more...
The “senior deduction” is added automatically by the software based on the date of birth and filing status you entered into MY INFO.  You do not need to take any extra steps to enter it. (And…the new senior deduction has nothing to do with whether you are getting Social Security)     2025 STANDARD DEDUCTION AMOUNTS SINGLE $15,750  (65 or older/legally blind + $2000) MARRIED FILING SEPARATELY $15,750  (65 or older/legally blind +1600) MARRIED FILING JOINTLY $31,500  (65 or older/legally blind + $1600) HEAD OF HOUSEHOLD $23,625 (65 or older/legally blind + $2000)     For 2025 through 2028 there is an extra  deduction amount of up to $6000 per individual 65 or older filing Single, MFJ, or HOH which is phased out for taxpayers with modified adjusted gross income over $75,000 for single filers and $150,000 for joint filers.   The $6,000 senior deduction will be calculated on 1040 Schedule 1-A page 2 Part V Enhanced Deduction for Seniors which goes to 1040 line 13b. It is separate and in addition to the Standard Deduction or your Itemized Deductions on 1040 line 12e.  Turbo Tax automatically includes it. IRS Schedule 1-A https://www.irs.gov/pub/irs-dft/f1040s1a--dft.pdf    
@Esky2018 wrote: I use the desktop version.  Also, it is a Q and not a O.   Thanks for your help. Changed the O to a Q and still received the credit using the online editions   The... See more...
@Esky2018 wrote: I use the desktop version.  Also, it is a Q and not a O.   Thanks for your help. Changed the O to a Q and still received the credit using the online editions   The Form 5695 for the 2025 TurboTax desktop editions has not been finalized.  It should be available sometime during the week, probably on Thursday, 01/29/2026
I have the same issue on the desktop version. I try to enter home energy credits.... it says not available yet... so I sign up for email update, receive an email stating it is available and when I tr... See more...
I have the same issue on the desktop version. I try to enter home energy credits.... it says not available yet... so I sign up for email update, receive an email stating it is available and when I try to enter the energy credit, I get the same error.    I checked for updates and it says my version is the latest and no new updates available.
The criteria to Qualify for the Child Tax Credit are: DoninGA gave good advice.   To qualify for the Child Tax Credit, you (or your spouse, if married filing jointly,) and each qualifying child... See more...
The criteria to Qualify for the Child Tax Credit are: DoninGA gave good advice.   To qualify for the Child Tax Credit, you (or your spouse, if married filing jointly,) and each qualifying child must have a Social Security number that is valid for employment in the United States and issued before the due date of the tax return (including extensions).  Additionally, to be a qualifying child for the 2025 tax year, your child generally must: Be under 17 at the end of the tax year. Be your son, daughter, stepchild, eligible foster child, brother, sister, stepbrother, stepsister, half-brother, half-sister, or a descendant of one of these (for example, a grandchild, niece or nephew). Not provide more than half of his or her own support for the tax year. Have lived with you for more than half the tax year. Be claimed as a dependent on your return. Not file a joint return for the year (or filed the joint return only to claim a refund of taxes withheld or estimated taxes). Be a U.S. citizen, U.S. National or a U.S. resident alien. Please see the IRS publication containing  Who qualifies for the Child Tax Credit/Additional Child Tax Credit
You can't change or add anything on the return that you have e-filed. You'll need to wait until the IRS has processed your return and sent your refund (if any). Then wait two to three months to see i... See more...
You can't change or add anything on the return that you have e-filed. You'll need to wait until the IRS has processed your return and sent your refund (if any). Then wait two to three months to see if you receive a letter from the IRS revising your original return. This happens fairly often for unreported income. The IRS will recalculate the tax you owe (if any) and send you a bill. This is a fairly easy process and a lot less hassle than preparing an amended return, which has to be printed and mailed (no e-file).   Note that you won't be able to file an amended return at all until mid-February, when TurboTax releases Form 1040X.   For more info: Do I need to Amend? How do I add a W-2, W-2c or form after I've already filed?
The software may not have determined that you are qualified for the credit.  Are you filing a married filing jointly tax return?     If so, to qualify for Child and Dependent Care Expenses, each ... See more...
The software may not have determined that you are qualified for the credit.  Are you filing a married filing jointly tax return?     If so, to qualify for Child and Dependent Care Expenses, each taxpayer must report earned income.  Make sure that wages have been correctly enter into the program:   Go to Federal / Wages & Income / Your wages and income / Job (W-2). Click Add/Edit to the right. At the screen W-2 Summary, the summary will show the name for each W-2 as it was entered. IRS Publication 503 page 4 states:   You Must Have Earned Income    To claim the credit, you (and your spouse if filing jointly) must have earned income during the year.   However, your spouse is treated as having earned income for any month that they are:    A full-time student, or  Physically or mentally not able to care for themselves. 
Can you just send me to somebody so I can start filing my taxes please?
Where do I put in the over 65 additional deduction for the big beautiful bill?
Overtime reported on Form W-2, usually Box 14, is entered on the W-2 entry screen. How you enter this depends on the version of TurboTax you are using.    In TurboTax Online, choose "Overtime" from... See more...
Overtime reported on Form W-2, usually Box 14, is entered on the W-2 entry screen. How you enter this depends on the version of TurboTax you are using.    In TurboTax Online, choose "Overtime" from the Category dropdown list for W-2 Box 14. If you don't see this dropdown, follow these steps: After you have entered all your W-2 information, you will come to a screen that says, "Review your box 14 info."  On this page, choose the first option for "Overtime" from the Category dropdown list (if not already selected for you). Continue to the page “Deduct up to $12,500 of your overtime” and hit Continue. Follow the prompts to confirm and/or enter your eligible overtime premium pay and confirm you are not an exempt employee. In TurboTax Desktop: After you have entered all your W-2 information, you will come to a screen that says, "Box 14 is missing info."  On this page, choose the last option for "Other (not classified)" from the Category dropdown list. Continue to the page “Let’s check for uncommon situations” and check the top box for “Overtime.” Continue to the page “Deduct up to $12,500 of your overtime” and hit Continue. TurboTax will ask you if you need help in calculating eligible over time or if you know what to enter. If you know what to enter, and you are not an exempt employee, you will then enter the amount of overtime that is eligible to be deducted on the page “Enter your deductible overtime…”
I purchased an investment property in 2025 for $360,000. My latest tax bill has the following:    Value as of 1/1/2024: $317,400 Land: $110,000 Improvements: $207,400   My current plan is to ta... See more...
I purchased an investment property in 2025 for $360,000. My latest tax bill has the following:    Value as of 1/1/2024: $317,400 Land: $110,000 Improvements: $207,400   My current plan is to take the % $110,000/317,400 = 34.66% and calculate the land/improvement %'s for the purchase price of $360,000. This comes out to land: $124,776 and improvements: $235,224.    Is this the appropriate methodology or is there a better way to calculate this? 
AMEN !  Always keep the lowest virtual footprint possible and never  get complacent . I wouldn't even eFile, but NY requires it if you use TT   
I use the desktop version.  Also, it is a Q and not a O.   Thanks for your help.
You can't change or add anything on the return that you just e-filed, nor can you stop it.  It is too late, just like when you put an envelope in the mail slot at the Post Office.  The IRS doesn't al... See more...
You can't change or add anything on the return that you just e-filed, nor can you stop it.  It is too late, just like when you put an envelope in the mail slot at the Post Office.  The IRS doesn't allow you to take it back.   You'll need to wait until the IRS has processed your return and sent your refund (if any). Then wait two to three months to see if you receive a letter from the IRS revising your original return. This happens fairly often for unreported income. The IRS will recalculate the tax you owe and send you a bill. This is a fairly easy process and a lot less hassle than preparing an amended return, which has to be printed and mailed (no e-file).   Note that you won't be able to file an amended return at all until mid-February, when TurboTax releases Form 1040X.   For more info: Do I need to Amend? How do I add a W-2, W-2c or form after I've already filed?
Go back to My Info on the left side of the online program screen. Edit the dependent and carefully check your answers to the questions. Make sure you select them as your Child, that you selected ... See more...
Go back to My Info on the left side of the online program screen. Edit the dependent and carefully check your answers to the questions. Make sure you select them as your Child, that you selected that they lived in your home for the Whole Year, that they did NOT provided over one-half of their own support (You Did), that you indicated there was no one else in the household providing support to them, and that you did NOT check the box labeled Not valid for employment in the Social Security number section.   If all your answers are correct then delete them as a dependent and re-enter.
ROTH IRA contributions are taxable, and ‌withdrawals are tax free.   You said you didn't exceed the $7,000 limit. There is a contribution limit of $7,000 on contributions for individuals yo... See more...
ROTH IRA contributions are taxable, and ‌withdrawals are tax free.   You said you didn't exceed the $7,000 limit. There is a contribution limit of $7,000 on contributions for individuals younger than 50 years old. There is no limit to an authorized withdrawal. Was this money you put into a Roth IRA? If I've misinterpreted your question, please provide us with additional details
I am establishing a new rental property. TurboTax has the following categories and I am in need of help determining what can go in these categories:    Abstract and Recording Fees Legal Fees, Titl... See more...
I am establishing a new rental property. TurboTax has the following categories and I am in need of help determining what can go in these categories:    Abstract and Recording Fees Legal Fees, Title Search, Document Preparation Land Surveys Title Insurance Transfer or Stamp Taxes Expenses you Paid to the Seller   From my closing ALTA, I am having trouble figuring out if the following line items go into these categories:    Closing Tech Fee Condo Document & Review Underwriting Fees Flood Certification Fees Recording Fees - planning to put in "Abstract & Recording Fees"  Recordation Tax - County Deed  Transfer Tax - County - planning to put in "Transfer or Stamp Taxes" Transfer Tax - State - planning to put in "Transfer or Stamp Taxes" Title - CPL (Lender) Title - Full Search & Update Title - Lender's Title Policy Title - Closing Fee Title - Commitment/Policy Fee Title - Owner's Title Policy - planning to put in "Title Insurance" HOA setup fee