All Posts

This reject means: This Ohio state return is being rejected due to possible duplicated Ohio state tax withholding on your Form 1099-INT. Review your entries of state tax withheld on your Form 1099-INT and make sure that everything has been entered correctly and remove any duplicated state tax withholding. Review the reason for the reject. If necessary, make the appropriate change and re-submit this return electronically. However, if the reject continues, you may want to file this return via U.S. Mail. To file your state return, print it and mail to the appropriate taxing authority.

Yes, you can both file for extensions. The information you will give is on a Form 4868 Application for Automatic Extension of Time Included on the Form is your Individual Social Security Number Remember, an extension gives you more time to prepare your taxes, but it does NOT extend the time to pay your taxes. If you have an indication that you will owe taxes, you should make the payment to avoid additional interest and penalties This will give you until 15 October 2025 to file your taxes. You can also file a Free federal tax extension here You may have to do your state extension Do I need to file an extension for my personal state taxes?   If you owe taxes, you must pay by April 15th.   To file for extension in the TurboTax program On the menu bar on the left that shows. Select Tax Tools On the drop-down select Tools There will be 4 green boxes Select Tax Topics Type Extension You can start the extension process

If you have received form 1095-B, then you can reply that you do not have a Marketplace health policy.   Form 1095-B is not entered on your tax return.   Please read this TurboTax article for more information.

I don't think it would be quite right to recommend competitors on a TurboTax website, but there are a slew off them out there. You might try Google or Bing search for Income Tax Preparers. Or go to irs.gov and see their list of recommended ones. TurboTax does quite a few things wrong that is driving long-time users to seek other ways to do their taxes, but they have a business model they are following and as long as it makes them money they probably won't change. My opinion only.  By the way, while you are still on TurboTax you might consider filing an extension and paying any tax due to avoid a penalty for late filing.

If you did not have health insurance from healthcare.gov ----aka Marketplace --- aka "Obamacare" or "Affordable Care Act" insurance you will not have a 1095A so when it asks if you have 1095A you need to say NO.  You do not enter a 1095B at all.

Alright.  I have basically already completed the majority of my return and walked through the entire process as "employed", so all my income and deductions have been entered for that "portion".  I will go back and revisit the self employment section I guess now, and walk through the questions one by one.   For years I have had a side hobby/business that some years has made money, other years lost money, but regardless I created an LLC for when I started it in 2005.  When I lost my "employed" job at the end of March, I was unable to find another job in that field...can I consider myself "self employed" with my LLC at the point where I lost my "employed" job then?  I have already entered all the income and expenses for the LLC (via a schedule C I believe)...but it wasn't really under the "self employed" section.   At the end of the year I purchased a franchise and officially became "self employed" with that venture, and again I created another LLC for the franchise business.  I realize I will have to go through and enter those expenses and whatnot for that as a separate business, but am really wondering if I can claim that I was self employed from the point of losing my "employed" job at the end of March 2024.

A qualifying child can earn unlimited money and still be claimed as a dependent, so long as the child doesn't provide more than half of their own support.  However, if the child makes over $14,600 of W-2 income or self-employment income of $400 or more, they must file a tax return and enter that another person claims them as a dependent.   See this link if you own your own business and want to employ your child:   Benefits of hiring your children Rules for claiming a dependent

If you owned a home for part of the year that you paid property tax on, you may be able to deduct your property tax. If you were a renter all year, than you will not be able to deduct any property tax.   A property tax is an annual or semiannual charge levied by a local government that is paid by the owners of real estate within its jurisdiction.  These taxes are used by your local government to fund schools, police and fire departments, road construction and repairs, libraries, water and sewer departments, and other local services that benefit the community.    If you did not own property or pay taxes on that property to your local governmental entity, than you will have no property tax deduction.

Hello, We are retired and receive SS with 22% tax withholding. So far we have received SS benefits for Jan - Mar, 2025. We also expect to take IRA RMDs which are set up for 22% withholding. The RMDs will likely be done later in the year. Other than than, we have 1099-INT and 1099-DIV income also expected at end of the year, with no withholding. We are estimating all income except SS (which is not estimated) will be roughly the same as 2024.  How to figure quarterly payments that are evenly - or close to evenly - spread across quarters, based on this information, to avoid penalty? Thanks

If you are self employed you will need to use Schedule C (Form 1040), Profit or Loss from Business (Sole Proprietorship), to report your income and expenses.  You can deduct expenses that are directly related to the work you do.   Check here to enter your business expenses in TurboTax.

You will want to get a total for each category of income/deduction, then divide in half. From the one half total, you will add or subtract to each person's share.  For example-   A Income= $70,000 B Income= $40,000  TOTAL = $110,000 (one half = $55,000/each spouse reports one half)   A= $70,000 MINUS $15,000= $55,000 (subtraction adjustment of $15,000) B=$40,000 PLUS $15000-= $55,000 (addition adjustment of $15,000)  

A US obligation is a bond or note which is a direct obligation of the United States of America, or obligations the principal of and interest on which are guaranteed by the United States of America.   The sale of these investments would be reported on an IRS form 1099-B.