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  In TurboTax (TT), enter at: Federal Taxes Tab (Personal for H&B version) Deductions & Credits -Scroll down to: --Education   --Education Expenses and Scholarships (1098-T)   Note that you will just enter the expenses paid. You do not designate that the expenses were paid with loans. That's not relevant, for tax purposes*   You will also not enter room,  board and/or housing. Those are not qualified educational expenses for a tuition credit or for scholarships to be tax free. The fact that you paid housing with student loans is not entered in TT.    Room and board (R&B) are qualified expenses for a 529 Plan or ESA distribution.  But to get the screen to enter R&B, you must first tell TurboTax that you had a 529/ESA distribution by  entering your form 1099-Q. Form 1099-Q must be entered before the 1098-T is entered.    *Except to claim the student loan interest deduction, which is entered separately. In TurboTax (TT), enter at: Federal Taxes Tab (Personal for H&B version) Deductions & Credits -Scroll down to: --Education   --Student loan interest deduction

It doesn't let me not put anything.   I'm using tax act because it's actually free. I can't afford turbo tax (plus turbotax is showing a greater amount due) but this seemed like the right place to ask.   It doesn't let me not select anything though.

See if you can do it this way so TurboTax won't nag you for it:     Here's how to get back to the IP PIN interview.   Upon arrival at that section, you may see that question.  If so, you can say "no".   If you don't easily see the question, you may have to start (or revisit) the IP PIN interview to be asked again; i.e., it may ask you once you begin that IP PIN interview if you or a spouse or a dependent received one.   With your return open, click in the left menu column on TAX TOOLS, then choose TOOLS. In the Tools window choose the blue button TOPIC SEARCH. On the topic search line enter the term IP PIN without quotes. In the selection list highlight IP PIN and either double-click it or click GO.

most likely if you did a Roth conversion or other IRA distribution it's needed for the calculation on Form 8606 to determine how much was taxable (ratio of your basis to the total market value determines how much was non-taxable)   5498s are not generally mailed until May so you would use year-end statements to determine the value.   Form 8606 instructions:   https://www.irs.gov/pub/irs-pdf/i8606.pdf Line 6 Enter the total value of all your traditional, traditional SEP, and traditional SIMPLE IRAs as of December 31, 2024, plus any outstanding rollovers. A statement should be sent to you by January 31, 2025, showing the value of each IRA on December 31, 2024

@ynong0222  You posted your IP PIN in a public Internet forum.  You can edit it out.  To do that click the tiny blue 3-dot icon just to the right of your question title and then choose Edit.   What do you need help with in regard to a IP PIN?    Do you need to know where in the TurboTax interview it's entered?     Or did you efile and got a rejection notice that refers to an IP PIN?   If you got a rejection error code/message, please post the rejection error code or message.   If you need to know where to enter your 6-digit IP PIN,  here's a shortcut if you are using Online TurboTax: With your return open, click in the left menu column on TAX TOOLS, then choose TOOLS. In the Tools window choose the blue button TOPIC SEARCH. On the topic search line enter the term IP PIN without quotes. In the selection list highlight IP PIN and either double-click it or click GO. Or you can do it this way (in both Online and desktop TurboTax) Federal Taxes tab (it's the PERSONAL tab in desktop Home and Business) Subtab Other Tax Situations. Then scroll down to Other Return Info. Then choose Identity Protection PIN and then Start or Revisit/Update.

Don't post your pin or any personal info here.  This is a public user forum and everyone can see what you post.  Do you need to know where to enter a  6 digit IP Pin?   Enter a 6 digit ID pin https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/add-remove-6-digit-ip-pin/L1cz7f2zQ_US_en_US?uid=lusxdijb To enter your IRS 6 digit ID Pin number in TurboTax, please follow these steps: In TurboTax Online, open your tax return Click on Federal in the left-hand column, then on Wages & Income Follow the questionnaire until you arrive at the question: Did you experience identity theft and receive an Identity Protection Pin (IP PIN) from the IRS? Reply Yes On the next page, scroll down to Other Return Info and click Show More Click Start on Identity Protection PIN

No you don't have to do inventory.  Just skip that part.  Just enter your income and expenses.   To report your self employment income you will fill out schedule C in your personal 1040 tax return and pay SE self employment Tax. You can enter Self Employment Income into Online Deluxe but if you have any expenses you will have to upgrade to Premium version. Or any of the Desktop programs. But you will get the most help in the Home & Business version. How to enter income from Self Employment https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/26653 Where to enter business expenses https://ttlc.intuit.com/community/entering-importing/help/where-do-i-enter-my-self-employment-business-expenses-like-home-office-vehicle-mileage-and-supplies/01/27109   Self Employment tax (Scheduled SE) is automatically generated if a person has $400 or more of net profit from self-employment. You pay 15.3% SE tax on 92.35% of your Net Profit greater than $400. The 15.3% self employed SE Tax is to pay both the employer part and employee part of Social Security and Medicare. So you get social security credit for it when you retire. You do get to take off the 50% ER portion of the SE tax as an adjustment on 1040. The SE tax is already included in your tax due or reduced your refund. The SE tax is in addition to your regular income tax on the net profit.   Here is some IRS reading material…… IRS information on Self Employment https://www.irs.gov/businesses/small-businesses-self-employed/self-employed-individuals-tax-center IRS Guide to Business Expense Resources https://www.irs.gov/forms-pubs/guide-to-business-expense-resources Turbo Tax Self Employed Tax Hub https://turbotax.intuit.com/personal-taxes/self-employment-taxes Turbo Tax Self Employment info https://turbotax.intuit.com/tax-tips/self-employment-taxes/beginners-tax-guide-for-the-self-employed/L2HLojrj5      

This is the TurboTax US user community website. Go to this TurboTax Canada website for assistance with a Canadian tax return or the TurboTax Canada editions - https://turbotax.community.intuit.ca/community/turbotax-support/help/03/en-ca