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April 14, 2025
10:30 AM
Room and board are not qualified education expenses. You do not enter anything about them unless you have a 529 plan or some other education savings account.
April 14, 2025
10:30 AM
You're right. It only says Federal + eFile. I paid $48, which is less than previous years, but I thought it was because they were no longer using CDs. So another $45 for the state seems excessive....
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You're right. It only says Federal + eFile. I paid $48, which is less than previous years, but I thought it was because they were no longer using CDs. So another $45 for the state seems excessive. Guess I'm stuck. Guess I'll first try doing the state without TurboTax, Thanks for replying.
April 14, 2025
10:30 AM
@mtominez Yes a person could qualify as a dependent even with self employment income if they are under 24 and a full time student no matter how much income they had. If they are over 23 or over 1...
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@mtominez Yes a person could qualify as a dependent even with self employment income if they are under 24 and a full time student no matter how much income they had. If they are over 23 or over 18 and not a full time student they can still be a dependent as long as their total income was less than $5,050 for 2024. Rules to claim a dependent https://turbotax.intuit.com/tax-tips/family/rules-for-claiming-a-dependent-on-your-tax-return/L8LODbx94#:~:text=The%20child%20can%20be%20your,time%20student%2C%20under%20age%2024 See IRS Publication 501 starting on page 10 bottom Dependents https://www.irs.gov/pub/irs-pdf/p501.pdf
April 14, 2025
10:30 AM
Thank you. The issue I have faced the last two years is the fact that I have done a Roth IRA Conversion late in the calendar year that has significantly increased our Gross Income which had no Federa...
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Thank you. The issue I have faced the last two years is the fact that I have done a Roth IRA Conversion late in the calendar year that has significantly increased our Gross Income which had no Federal or State Income tax withheld. Last year I "annualized" my income which led to a significantly lower estimated tax penalty.
April 14, 2025
10:30 AM
no ssa 1099 how do I report income
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April 14, 2025
10:30 AM
If he doesn't qualify, there is a reason!
You can make adjustments in My Info
Select My Info or Personal Info
Click the down arrow next to your name
You can see your information ...
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If he doesn't qualify, there is a reason!
You can make adjustments in My Info
Select My Info or Personal Info
Click the down arrow next to your name
You can see your information
Scroll down to your son
If you need to change it:
Choose [Revisit]
Make the changes necessary
Continue the interview to
April 14, 2025
10:29 AM
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April 14, 2025
10:29 AM
I did not use the full contribution limit to my 401K, how can I contribute to IRA to get the tax benefit?
April 14, 2025
10:29 AM
I received a $300 sign up bonus from my credit union for signing up for a credit card. In mid December I saw credit added to credit card. Din not receive a 1099. Bank said the bonus was on the January...
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I received a $300 sign up bonus from my credit union for signing up for a credit card. In mid December I saw credit added to credit card. Din not receive a 1099. Bank said the bonus was on the January statement so I would get the 1099 for this year. Does this seem correct, I received the funds in December. Thank you.
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April 14, 2025
10:29 AM
To JohnB5677 I am not claiming SS just yet. I just turned 55. My 1099 is just a weekend thing I do for extra income.
April 14, 2025
10:29 AM
In TurboTax Premium Online, within the self-employment activity, the depreciation characteristics are determined at the screens Describe This Asset and Tell Us a Little More.
To review the asse...
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In TurboTax Premium Online, within the self-employment activity, the depreciation characteristics are determined at the screens Describe This Asset and Tell Us a Little More.
To review the asset under Self-employment income, follow these directions.
Down the left side of the screen, click Federal.
Down the left side of the screen, click Wages & Income.
Click on the drop down arrow to the right of Self-employment.
Click to the right of Self-employment income and expenses.
At the screen Your 2024 self-employed work summary, select Edit.
At the screen Here's your info, click the pencil icon to the right of Assets.
At the screen Do you want to go directly to your asset summary, select Yes.
At the screen Business Asset Summary, select Edit to the right of the asset to review.
April 14, 2025
10:29 AM
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April 14, 2025
10:28 AM
If Box 7 and Box 8 is blank on your W-2, just leave them blank and continue.
April 14, 2025
10:28 AM
If the issue is with e-filing his tax return, you can try entering $0 for his adjusted gross income when requested. Otherwise, you may be able to get it from a transcript of his 2023 tax return from ...
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If the issue is with e-filing his tax return, you can try entering $0 for his adjusted gross income when requested. Otherwise, you may be able to get it from a transcript of his 2023 tax return from the IRS. Your last option would be to mail the return in.
April 14, 2025
10:28 AM
DELETE CHILDCARE CREDIT FORM
https://ttlc.intuit.com/turbotax-support/en-us/help-article/small-business-processes/delete-form-2441-turbotax-online/L2tuu4BBs_US_en_US?uid=m6e1mpox
April 14, 2025
10:28 AM
If your parents are claiming you as a dependent, you cannot claim the AOTC. Also, if you are under 24, and your parents are alive, you cannot claim the refundable portion of the AOTC, only the n...
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If your parents are claiming you as a dependent, you cannot claim the AOTC. Also, if you are under 24, and your parents are alive, you cannot claim the refundable portion of the AOTC, only the non-refundable portion if they would not claim you. This means you would have to have a tax liability in order to benefit from the AOTC.
April 14, 2025
10:27 AM
You edit his information in the My Info section of the program. If he is age 17 or older he is not eligible for the Child Tax Credit, but is eligible of the Other Dependent Credit of $500.
April 14, 2025
10:27 AM
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April 14, 2025
10:27 AM
Thank you for the reply! They have other unearned income to report so the total is greater than $1,300. I'm just not sure how to handle this tax-exempt interest. I have modified the numbers in the or...
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Thank you for the reply! They have other unearned income to report so the total is greater than $1,300. I'm just not sure how to handle this tax-exempt interest. I have modified the numbers in the original post.
April 14, 2025
10:26 AM
This is a partnership return w/ NC residents but business is done in SC and therefore 100% apportioned to SC.