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4 weeks ago
@alyssa23978
That is in fact a 1099-R. It shows you withdrew a gross amount of $2059, with $269 tax withheld, so you should have received a check for $1790. If your check was less and you don't ...
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@alyssa23978
That is in fact a 1099-R. It shows you withdrew a gross amount of $2059, with $269 tax withheld, so you should have received a check for $1790. If your check was less and you don't understand why, contact the plan customer service.
On your tax return, the gross amount of $2059 is subject to income tax. You will get credit for the $269 withholding. If you withdrew the money within 1 year after the birth of your child (but not before) you can claim an exemption for the additional 10% penalty for early withdrawal (but you still owe the regular income tax). Enter the 1099-R in the section for Retirement Income.
But again, if you think the amounts are wrong you need to discuss with Fidelity.
4 weeks ago
In order to take a closer look at the situation you described, it would be useful to have a diagnostic copy of your tax data file. The diagnostic file will not contain personally identifiable inform...
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In order to take a closer look at the situation you described, it would be useful to have a diagnostic copy of your tax data file. The diagnostic file will not contain personally identifiable information, only numbers related to your tax forms.
If you would like to provide us with the diagnostic file, follow the instructions below and post the token number along with which version of TurboTax you are using and what states you are filing (if there are any in addition to CO) in a follow-up thread.
Use these steps if you are using TurboTax Online:
Sign in to your account and be sure you are in your tax return.
Select Tax Tools in the menu to the left.
Select Tools.
Select Share my file with agent.
A pop-up message will appear, select OK to send the sanitized diagnostic copy to us.
Post the token number here.
If you are using a CD/downloaded version of TurboTax, use these steps:
Select Online at the top of the screen.
Select Send Tax File to Agent.
Click OK.
Post the token number here.
4 weeks ago
It's Tuesday Jan 27th and this form is still not available even though I have received two emails saying that it was. I looked at the form on the IRS website and the form is available BUT the instruc...
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It's Tuesday Jan 27th and this form is still not available even though I have received two emails saying that it was. I looked at the form on the IRS website and the form is available BUT the instructions are not. Maybe this is the holdup. In any case, Turbo tax needs to stop sending emails saying the form is ready when it is NOT
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4 weeks ago
1 Cheer
They said maybe Thursday the 29th so who knows maybe you'll be able to use the tax preparation software you paid for three weeks plus after you purchased it.
4 weeks ago
Child birth is not an exception to the early withdrawal penalty. But you can use the financial emergency exception up to $1,000.
If you are under 59 1/2 at the time of the distribution, you hav...
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Child birth is not an exception to the early withdrawal penalty. But you can use the financial emergency exception up to $1,000.
If you are under 59 1/2 at the time of the distribution, you have to pay a 10% tax penalty on top of income tax.
For more information, read this TurboTax article.
4 weeks ago
The Form 1099-R issued by OPM to you as a non-annuitant shows the amount of income you need to report on your return. If you have questions about your refunded contributions, you can't find an answer...
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The Form 1099-R issued by OPM to you as a non-annuitant shows the amount of income you need to report on your return. If you have questions about your refunded contributions, you can't find an answer to your question on OPM.gov or if you can't sign in to OPM Retirement Services Online to manage your annuity account, you may wish to call them. Phone:1-888-767-6738
@FFE2025
4 weeks ago
Form 5695 is available on TurboTax Online. For Desktop, it should be available by Thursday morning.
4 weeks ago
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4 weeks ago
Form 4562 for Depreciation is ready in TurboTax.
If you're using TurboTax Desktop, use the ONLINE link at the top of the page to update your program.
@user17690670600
4 weeks ago
1 Cheer
Yes,
if payments are made in one year (2025) that were attributed to a prior year (2024 or earlier), that portion of your benefits is concerned a lump sum/ back payment.
The full amount is r...
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Yes,
if payments are made in one year (2025) that were attributed to a prior year (2024 or earlier), that portion of your benefits is concerned a lump sum/ back payment.
The full amount is reported on the tax return for the year it was received (2025) , however you do have the option to pay the tax that is calculated for the year it was received OR claim the tax you would have paid if the amount was paid in the proper prior year, but regardless of the option you take, it is all done on your 2025 tax return 1040.
If there is no tax on your full amount, including the back payment / lump sum, there is no reason to claim it any other way than as receiving it in 2025.
If, however, the extra amount puts you into a higher tax bracket for 2025, you may want to compute the tax liability on that portion at your 2024 (or earlier) rate.
TurboTax will walk you through this computation however you will need information from your prior year returns.
HERE is an IRS link with more information
HERE is a TurboTax link with more information
4 weeks ago
Unfortunately it doesn't describe what part of the credit is coming from what it simply states there will be an additional amount rolled over in 2026. It seems to imply that I'll both. I have to c...
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Unfortunately it doesn't describe what part of the credit is coming from what it simply states there will be an additional amount rolled over in 2026. It seems to imply that I'll both. I have to check this online because they haven't added this to the desktop version and have only stated it may come this week. So I was just checking or testing with the online version but I'm not going to pay $80 or whatever to use the online version when I've already paid for the desktop version. Good news! You qualify for a home energy credit of $13,818. An additional $4,883 of your credit will be carried forward to 2026. Additional entries on your return may change these amounts.
4 weeks ago
2 Cheers
Yes, you can still deduct your charitable donations of clothing and household items, even though TurboTax is no longer partnered with It's Deductible.
Here's a Goodwill Donation Guide to help ...
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Yes, you can still deduct your charitable donations of clothing and household items, even though TurboTax is no longer partnered with It's Deductible.
Here's a Goodwill Donation Guide to help you.
@emcfalls
4 weeks ago
Thanks - I couldn't figure out how to delete the SSA worksheet. I deleted the Box 5 supporting details sub-worksheet that had carried over from 2024 and was able to enter the Box 5 amounts directly i...
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Thanks - I couldn't figure out how to delete the SSA worksheet. I deleted the Box 5 supporting details sub-worksheet that had carried over from 2024 and was able to enter the Box 5 amounts directly into the worksheet and that seems to have worked.
4 weeks ago
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4 weeks ago
we need to issue some 1099 for my wife's business
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4 weeks ago
Hello so I have worked at my company for 4 years and I had notified them of an address change years ago and today I just found out that my address was never updated. They think I live in Ohio still bu...
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Hello so I have worked at my company for 4 years and I had notified them of an address change years ago and today I just found out that my address was never updated. They think I live in Ohio still but my Job is in Massachusetts. I’ve been filing my taxes as a Massachusetts resident thinking I was good…have I been paying more taxes because they think I live in another state? Or do I now owe a bunch of taxes now because it wasn’t updated? I’m so nervous because I’m not making enough to cover a huge sum of money.
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4 weeks ago
We no longer live in Maryland but in 2025 we sold what had been our primary residence there. We applied for and received the MD state tax exemption, and have a signed copy of MW506E showing that we o...
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We no longer live in Maryland but in 2025 we sold what had been our primary residence there. We applied for and received the MD state tax exemption, and have a signed copy of MW506E showing that we obtained a full tax emption for the sale. The sale is indicated on the federal return but doesn't seem to be indicated anywhere in the Maryland NR return, the way Turbo Tax has filled out the forms. I called the Maryland tax help line and was told that I don't need to include a copy of MW506E with my return, so I'm unclear on whether the MD NR return has been filled out correctly with Turbo Tax. Thanks for any guidance anyone can provide.
4 weeks ago
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4 weeks ago
it wasn’t a 1099 R I received this is what it shows
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