All Posts

Yes, when you owe money to a state or federal agency, the IRS can apply your refund to pay that debt.  If they do apply any of your refund to pay your debt they will notify you in writing.     Why your tax refund may be lower than expected

Thank you for the quick answer. A "Rollover" seems to be defined by the IRS as a tax free event - from IRS https://www.irs.gov/retirement-plans/plan-participant-employee/rollovers-of-retirement-plan-and-ira-distributions "When you roll over a retirement plan distribution, you generally don’t pay tax on it until you withdraw it from the new plan. By rolling over, you’re saving for your future and your money continues to grow tax-deferred."    And certainly 60 days always applies converting from a pretax vehicle like a Traditional IRA/401(k) to another, or a Roth to Roth.   I can't find a direct reference to a back door Roth Conversion time limit on the IRS site, but Morningstar https://www.morningstar.com/personal-finance/key-rules-backdoor-roth-ira-contribution has this: "The conversion [that is the Trad IRA to Roth IRA] step has no deadline. However, it should be done immediately after the contribution to ensure that the contribution’s gains accrue in the Roth IRA where it could eventually become tax-free." And I have seen that no time limit elsewhere. This seems to conflict with the earlier IRS 60 day rule as applied to Trad IRA to Roth IRA. Can you clarify? Why is there no 60 day conversion rule for a backdoor Roth Conversion?

Go back to the sections of the program where you entered income and check the state taxes withheld that was entered on the form.  Make sure that there was not a misplaced decimal point or a comma entered instead of a period.

Click on Forms.  In Forms mode, located the Form 7205 on the left side of the screen.  Click on the form to open.  Click on Delete Form at the bottom of the screen.  See if that removes the 0 from the Schedule C Line 27b.

You would need to amend the 2023 tax return that you filed to make changes to the 2023 tax return.   See this TurboTax support FAQ for amending a prior year tax return - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/amend-change-correct-return-already-filed/L4VjJ9BA2_US_en_US?uid=ld1n99kr

A Form 1095-B and 1095-C is not entered on a tax return.   If you had healthcare insurance through one of the state Marketplace exchanges, go to this healthcare.gov website for a Form 1095-A - https://www.healthcare.gov/blog/file-your-taxes-using-form-1095-a-health-insurance-marketplace-statement/

You will have to install the 2024 software on the new computer. Sign onto your download account - https://accounts.intuit.com/app/account-manager/productsBilling/turbotax   See this TurboTax support FAQ for how to move your tax data files from the old computer to the new computer - https://ttlc.intuit.com/turbotax-support/en-us/help-article/data-systems/move-tax-data-file-another-computer/L5fFkMkhr_US_en_US?uid=m5hi1kc2

Do you have more than one TurboTax account?  See this TurboTax support FAQ for how to view all of your accounts - https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/many-intuit-accounts-turbotax/L9aVfKS1Z_US_en_US?uid=ll5g6zcx   To access your current or prior year online tax returns sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/ Scroll down to the bottom of the screen and on the section Your tax returns & documents.  Click on the Year and Click on Download/print return (PDF) Or - When you sign onto your online account and land on the Tax Home web page, scroll down and click on Add a state.  This will take you back to the 2024 online tax return. Click on Tax Tools on the left side of the online program screen.  Then click on Print Center.  Then click on Print, save or preview this year's return.  Choose the option Include government and TurboTax worksheets   If you used the desktop CD/Download editions installed on your computer, the only copy of your tax data file and any PDF's will be on the computer where the return was created.  TurboTax does not store online any returns completed using the desktop editions.

Are you Personal Representative or Executor.? tax and funeral  bills must be paid from selling other assets.   Otherwise, when billed, reply with a letter stating assets are exhausted.   @nitkowski5