All Posts

Actually Cashapp offers to do taxes which provides the 1040 form; however, Cashapp in fact does issue a 1099-K to anyone who has a business Cashapp account.  So yes a person will receive a 1099-K if they have a business account and received payments in excess of $600.    

Q. Does Fidelity (which maintains my 529 plan) send 1099-Q information to the IRS? A. Yes. It's the exact 1099-Q that you get a copy of.    Q. It looks like TurboTax is sending the 1099-Q and 1098-T forms to the IRS, because when I checked all the official forms included in the filing, those documents were listed.  A. No. What you are seeing is worksheets, not IRS forms.  These are for you records and are not sent to the IRS.    Q. I filed my daughter's taxes, and I can see both the 1099-Q and 1098-T in the filed copy. A. Again, worksheets,  not forms. Not sent to the IRS.   The 1098-T and 1099-Q are informational only. They are not controlling documents.   If the answer to #1 or #2 is yes, should I enter the 1099-Q that came under my name in TurboTax, rather than ignoring it?

You will not get the childcare credit until (unless) you enter income earned from working.   The credit does not work unless you enter your income first.   If you are filing a joint return you must show income for both spouses, or show that one or both of you was a student or disabled.   If you have self-employment income and show a loss you will not get the childcare credit.  You will not get the credit if you are filing married filing separately.     If you have entered all of your income and you have entered your dependent(s) then work on the childcare credit by entering the Tax ID or Social Security number of your childcare provider and enter the amount you paid for the childcare.   One of the most common mistakes that messes up the childcare credit for people is listing all of the earned income under only one name on a joint return.  Make very sure that your incomes are listed under each of your names.  It’s pretty easy to check.  Go to the Income section, and click “update” on Wages and Salary.  That will take you to the W-2 Summary.  Do you see income listed under both of your names?       The person receiving the care had to be 12 or under or qualified as mentally or physically disabled. To claim the childcare credit you need to be filing as Head of Household or Married Filing Jointly. (NOT married filing separately)    If your child was born in 2024 make sure you say the child lived with you all year. The credit is a percentage of your expenses based on your AGI (the higher the income, the lower the percentage)  You must provide the Social Security number for each child you are claiming, and the Social Security number or Tax ID for each care provider.    In the case of divorced or never-married parents—only the custodial parent can use the childcare credit.     And remember that the childcare credit is a NON-refundable credit.  It can reduce your tax owed down to zero, but it is not added to your refund.       https://ttlc.intuit.com/turbotax-support/en-us/help-article/taxation/child-dependent-care-credit/L8h8A5Klg_US_en_US?uid=m5yifys1      

You can enter the supplemental property taxes that you paid in 2024 in the same area that you enter your regular property taxes in the Deductions and Credits section. Follow the steps below to enter your property taxes.   Open your tax return in TurboTax Select Deductions & Credits Scroll down to Your Home and select the down arrow Select Start or Revisit by Property (Real Estate) Taxes  TurboTax will guide you through the screens to enter your property taxes. For more information, refer to the TurboTax articles Where do I enter my real estate (property) taxes in TurboTax Online? and Claiming Property Taxes on Your Tax Return.

A child can only be claimed as a dependent on one tax return.   If the other parent is the one who is entitled to claim the child, and their return was rejected from e-filing, they should file their return by mail to claim the child.    If you incorrectly claimed the dependent credit, you should amend your return to remove the dependent credit and pay any amount due. Otherwise, you would likely eventually be audited if the other parent also claims the child, and you may end up paying additional tax along with interest and possibly penalties.   Please see this IRS tax tips article for more information about claiming a child as a dependent when parents are separated or divorced.   @rsimental702 

Did you e-file?  Did you click a big orange button that said “Transmit my returns now?”     When you e-file your federal return you will receive two emails from TurboTax.  The first one will say that your return was submitted.  The second email will tell you if your federal return was accepted or rejected.  If you e-filed a state return, there will be a third email to tell you if the state accepted or rejected your state return.   First, check your e-file status to see if your return was accepted:  https://turbotax.intuit.com/tax-tools/efile-status-lookup/ If the IRS accepted it, what does it say here?   https://www.irs.gov/refunds            Or does your account say “Ready to Mail?” Or “Rejected?” Or “Printed?”

I think the program is addressing Form 1099-Q. Did you enter Form 1099-Q? That "Qualified Education Savings Distribution" can be offset by expenses such as room and board, as well as tuition, books and supplies.    To apply for a credit, enter Form 1098-T and the education expenses such as tuition, books and supplies that you paid with cash. 

If you created a single member LLC, you'll report your income on Schedule C.   You can create a new business to report this LLC:   Navigate to Federal > Wages & Income > Self-employment income and expenses Add the business Now, add income and expenses Here is an article you may find helpful: Reporting Self-Employment Business Income and Deductions

Note to users who read this thread---the original post stated that the return was for 2023, and my reply was about a 2023 return but the original poster edited the question after receiving a reply.   @meyerhd    You mentioned waiting for TT to call you back.  Did you request help from customer support? To call TurboTax customer support https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/contact-turbotax/L2y9ZKpQB_US_en_US?uid=m5s9l2vh  

Go back to your 1099-INT in your Federal Return.  In the interview, you'll get a screen 'Tell us more about your exempt interest', where you can choose Arizona and enter the amount.   Here's more info on Arizona Municipal Interest.   @alison.price 

Neither is the correct answer. However, the AI may just be a display error. The best thing to do is check your actual tax return to confirm the numbers reported on your Form 1040.  Log in to your return and continue where you left off. From the left rail menu in TurboTax Online, select Tax Tools. Select Tax Tools  On the drop-down select Tools  On the pop-up menu titled “Tools Center”, select View Tax Summary  On the left sidebar, select Preview my 1040  You can also provide feedback about your experience. Once you file your return, as long as the settings to receive communication from Intuit don’t block it, you will see a pop-up message or receive an email with a survey asking you about your experience. We encourage you to leave your notes and comments there. “Voice of the Customer” notes and comments are read and acted upon.    

Please clarify your question by adding some additional information so we may better help you. Such as: What version of TurboTax are you using? What is your tax situation? What forms of income do you have? Did you start your taxes? Are you stuck on a particular screen?