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My son went to university for 5 years to finish his degree. I have been paying his college expenses from day one. I have used Turbotax to do my taxes for the entire time. TT says that I do not have a... See more...
My son went to university for 5 years to finish his degree. I have been paying his college expenses from day one. I have used Turbotax to do my taxes for the entire time. TT says that I do not have any eligible expenses and will not let me enter the info from my 1098-T. Can you help me?
Not on your taxes. The 1099-NEC usually means your child worked similar to a job but had no Medicare or Social Security tax withheld and now it must be paid. An self employment work over $400 require... See more...
Not on your taxes. The 1099-NEC usually means your child worked similar to a job but had no Medicare or Social Security tax withheld and now it must be paid. An self employment work over $400 requires filing and paying the additional tax.  
Shareholder contributions are entered under Business Info >> Shareholder Information >> Shareholder Stock and Debt Basis Limitations for each shareholder on the Basis Limitations Worksheet. This sub-... See more...
Shareholder contributions are entered under Business Info >> Shareholder Information >> Shareholder Stock and Debt Basis Limitations for each shareholder on the Basis Limitations Worksheet. This sub-form appears when you edit the shareholder. Enter the contribution amount under Part I Line 2.   You can also access these worksheets using Forms Mode. Look for "Sh Basis Wks" under each Schedule K-1.   Note that you can skip the Balance Sheet section if: Total business income (before deductions) is under $250,000; and Your business is not filing an Alabama, Connecticut (non-partnership), District of Columbia, Georgia, Kentucky, Louisiana, Massachusetts, Mississippi, New Jersey (non-partnership), New York, North Carolina, Oklahoma, Pennsylvania, South Carolina, or Tennessee return; and Corporation year-end assets are under $250,000 or partnership/LLC year-end assets are under $1,000,000.  
TurboTax gives you an estimated date for receiving your refund based on a 21 day average from your date of acceptance, but it can take longer.  “21 days”  is not a promise from TurboTax or the IRS.  ... See more...
TurboTax gives you an estimated date for receiving your refund based on a 21 day average from your date of acceptance, but it can take longer.  “21 days”  is not a promise from TurboTax or the IRS.      First, check your e-file status to see if your return was accepted:  https://turbotax.intuit.com/tax-tools/efile-status-lookup/   Once your federal return has been accepted by the IRS, only the IRS has any control.  TurboTax does not receive any updates from the IRS. Your ONLY source of information about your refund now is the IRS.   You need your filing status, your Social Security number and the exact amount  (line 35a of your 2024 Form 1040) of your federal refund to track your Federal refund:    https://www.irs.gov/refunds   To track your state refund:     https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_US_en_US?uid=lt447ebr   If you chose to have your TurboTax fees deducted from your federal refund, that will take some extra time, while the third party bank handles the refund processing     https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/refunds-take-longer-others/L14YlqFrH_US_en_US?uid=lexdr7zh . https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/irs-refund-taking-longer-21-days/L2vRAJbdU_US_en_US?uid=lexe7lst
When you are entering your 1095-A(s) you can add another person by selecting to "Add another Form 1095-A" for each person that is part of your policy and is not on your tax return.   You must sel... See more...
When you are entering your 1095-A(s) you can add another person by selecting to "Add another Form 1095-A" for each person that is part of your policy and is not on your tax return.   You must select the box that says "I shared this policy ..."   There are several scenarios that come into play. Is this Form 1095-A for a policy that is shared with someone that is on your tax return or someone who is not?   If you shared a Marketplace plan with two or more people who are on separate tax returns, you'll have to find what the SLCSP is for each person's household and add it up.     You can share your Marketplace policy with any of the following people who aren't on your tax return: Someone with whom you share custody of a child A former spouse A person who now claims your child as a dependent on their taxes A person you used to live and file taxes with A parent or an adult child If someone on your Form1095-A is not your dependent or your spouse and does not file a tax return, you may have to repay any discount you received to help pay for the marketplace health insurance         Click here for I'm on my parents' 1095-A form. What do I do on my return?
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Yes, you can continue to claim necessary expenses while the property is temporarily out of service for repairs/improvements. Complete renovations and extensive repairs often take many months to compl... See more...
Yes, you can continue to claim necessary expenses while the property is temporarily out of service for repairs/improvements. Complete renovations and extensive repairs often take many months to complete. Major improvements should be capitalized as a rental improvement and depreciated going forward.
When you request an extension you get more time to prepare the Form 1040.  You do not get more time to pay your tax due.   Your estimated tax is due by the April 15, 2025 filing deadline.  That is wh... See more...
When you request an extension you get more time to prepare the Form 1040.  You do not get more time to pay your tax due.   Your estimated tax is due by the April 15, 2025 filing deadline.  That is why it will not let you put a future date in.
Thank you for the clarification, but what was the original question? If it was how to enter a Casualty Loss?  Select Tax Tools You may have to minimize both the Federal and State options by ... See more...
Thank you for the clarification, but what was the original question? If it was how to enter a Casualty Loss?  Select Tax Tools You may have to minimize both the Federal and State options by clicking the Down Arrows on the Sidebar. You will then clearly see Tax Tools Click the arrow to up to see additional options Once you can work on Tax Tools On the drop-down select Tools There will be 3 or 4 green boxes Select Topics Search Type Casualty [GO] You will see Did you have anything damaged or stolen during a recent federal disaster? A disaster can be one of the hardest things to go through. We'll help you claim any personal losses or losses on business property due to: Continue through the interview.  
The 414(h) applies for New York state regardless of where the income was earned.  Go back to the W2 Box 14 entry and change the classification from the dropdown.  
It depends on what and why.  In general, you enter everything on your W-2 just as it appears. After that, what happens to it may vary.  So, for a more definitive answer, provide more detail.   A ... See more...
It depends on what and why.  In general, you enter everything on your W-2 just as it appears. After that, what happens to it may vary.  So, for a more definitive answer, provide more detail.   A common example: you are a KY resident that works in Cincinnati, OH.  Your employer withheld Cincinnati city tax in box 19 of your W-2 (but no Ohio state tax in box 17).  What do yo do with that?   The reciprocity agreement, between KY and OH on state tax, does not apply to local city taxes. You are not required to file an OH city return, but you are also not entitled to a refund of the city withholding (box19 on your W-2), unless there was an error in the amount. If you are subject to a KY county or city tax, you should check to see if the KY city will give you a credit for the OH city tax withheld. KY does allow an itemized deduction (Schedule A) for local tax paid.   In the personal info section, when it asks if you made money in another state, answer NO, per the reciprocal state instructions, on that page. This will prevent TurboTax from thinking you need to file an OH return.   Do enter the box 19 amount at the W-2 screen, because it is deductible, if you itemize deductions on your federal return. 
No.  The Amazon product key will not work for TurboTax online. 
Thank you for your quick response. Ok, we will include ONLY her 1098-T with our tax return, However can she include her 1098 -E with her tax return, since she is the one who paid her own student loa... See more...
Thank you for your quick response. Ok, we will include ONLY her 1098-T with our tax return, However can she include her 1098 -E with her tax return, since she is the one who paid her own student loan (total close to $2080, with box 1 of her 1098-E shows $760 loan interest)
To report the certificate of rent paid:    Open your MN return  Continue until you get to the screen Other Minnesota Credits Select Renter's credit. Check if you meet the requirements... See more...
To report the certificate of rent paid:    Open your MN return  Continue until you get to the screen Other Minnesota Credits Select Renter's credit. Check if you meet the requirements and Continue to the screen Certificate of Rent Paid
MY DEPENDENT HAD A JOB If your dependent has a W-2 for his after-school job, summer job, etc. you do not include the information on your own return. You can still claim your child as a dependent on... See more...
MY DEPENDENT HAD A JOB If your dependent has a W-2 for his after-school job, summer job, etc. you do not include the information on your own return. You can still claim your child as a dependent on your own return.  He/she can file his own return for a refund of some of his withheld wages from boxes 2 or 17 (he won’t get back anything for Social Security or Medicare), but MUST indicate on it that he can be claimed as a dependent on someone else’s return.  (Supervise this closely or prepare it for him!) If your dependent’s earnings were over $400 and were reported on a 1099Misc or 1099NEC then he must file a return and pay self-employment tax for Social Security and Medicare.     You might also want to use free software from the IRS Free File versions: https://apps.irs.gov/app/freeFile/
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