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If you itemize deductions instead of using standard deduction then you can enter your out of pocket medical expenses including health insurance premiums paid out of pocket.   It is, of course, very difficult to meet the threshold to actually get a medical expense deduction.   MEDICAL EXPENSES The medical expense deduction has to meet a rather large threshold before it can affect your return. The amount of medical (including dental, vision, etc.)  expenses that will count toward itemization is the amount that is OVER 7.5% of your adjusted gross income. You should only enter the amount that you paid in 2024—do not include any amounts that were covered by insurance or that are still outstanding.  Of course, your medical expenses plus your other itemized deductions still have to exceed your standard deduction before you will see a difference in your tax due or refund.   To enter your medical expenses go to Federal>Deductions and Credits>Medical>Medical Expenses     2024 STANDARD DEDUCTION AMOUNTS SINGLE $14,600    (65 or older/legally blind + $1950) MARRIED FILING SEPARATELY            $14,600    (65 or older/legally blind + $1550) MARRIED FILING JOINTLY $29,200    (65 or older/legally blind + $1550) HEAD OF HOUSEHOLD $21,900    (65 or older/legally blind + $1950)   2025 STANDARD DEDUCTION AMOUNTS SINGLE $15,000   (65 or older/legally blind + $2000 MARRIED FILING SEPARATELY $15,000   (65 or older/legally blind +1600) MARRIED FILING JOINTLY 30,000   (65 or older/legally blind + $1600) HEAD OF HOUSEHOLD $22,500  (65 or older/legally blind + $2000  

if they are truly post-tax you can deduct as a medical expense those insurance premiums taken from his paycheck. However, to be of tax benefit those premiums plus other medical expenses must exceed 7.5% of your adjusted gross income.

You seem to have figured out how to import and delete forms.  So are the numbers that are showing up in your return matching what they are supposed to be?  Does everything look correct or doubled?   @wa45burnette 

so what is the point of this form if self-filing, I sign a form to authorize myself to pay my taxes but don't give it to anyone?  I've filed in VA using TT for 10 years, never heard of this form, seems totally useless?

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/   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

Q. Doe TurboTax (TT)  store copies of actual fed tax documents when my return is filed electronically? A. No.    TT does have your actual tax forms (1040, Schedule 1, etc.).  But, TurboTax (TT) does not have your W-2 1099s, 1098s etc (in either the on-line or desk top versions). However, it does have a "facsimile", if you typed in (or imported) those documents when you prepared your return. If all you need is the information from your forms, you can get that from the facsimile (e.g. W-2 worksheet), found in the list of forms. Every bit of information on your actual form will be on the TT worksheet. Whether whomever you need to show your form to will accept the worksheet instead; you'll have to ask them. Your employer is the best source of an actual copy of your W-2. For more options, see: https://ttlc.intuit.com/community/taxes/discussion/how-do-i-get-my-old-w2s/01/782516#M311511 https://ttlc.intuit.com/community/after-you-file/discussion/i-need-to-get-a-copy-of-my-2017-w-2-where-can-i-find-it/01/789150#M163978 link Includes: IRS instructions http://www.irs.gov/taxtopics/tc159.html Social Security Administration Instructions questionID=3836&hitOffset=258+164+163+75+26+25+15+14&docID=2040

@StarGoyle wrote: Hello, Apologies for this long message, I just want to make sure anyone trying to help has all of the information that seems to be relevant to the question about this. So I'm having trouble figuring out how to handle the tax situation on a YouTube channel I've been working on starting. In August of 2021, I bought some computer hardware that would be up to the task of video editing (fast multicore CPU, plenty of RAM, hard drives, etc.) along with a nice high-quality microphone. The channel is education-based and will need to upload courses once all of the videos for that course are complete.   Sadly, I have yet to officially "open" the channel since the courses are multi-video and are taking some more time to complete than anticipated, but work is progressing nonetheless. Just a couple of weeks ago I was able to acquire a much newer GPU at MSRP as opposed to those scalping them, which were the only ones available up until recently, so I held off. But now I've completed the editing machine.   For editing, I've been using CapCut pro apk, which has actually been surprisingly capable even on higher resolution content. It’s helped me stay productive while I wait to launch—especially since it doesn’t require a lot of setup and handles transitions and cuts really smoothly.   Obviously, I have no income for 2021 from the channel. There is also the fact that income will depend on ad revenue, which means qualifying for ad revenue from YouTube in the first place, so whether I get any for 2022 is still up in the air.   My question is should I report these costs on the YouTube business on this year's taxes I'm about to file, or do I hold off until I actually qualify for and get ad revenue at a later tax year?   I'm also not sure how the expenses should be broken up, if at all. For example, for 2021 expenses, I have a little over $6k in expenses for the equipment being used for the YouTube business. I was able to get started on editing videos with an older GPU, while the newer one has made certain tasks far faster to complete.   2022 would be the GPU at about $1.5k, so would both count as startup costs in this case, or would the GPU go under some other category than startup?   This is all very new to me, and I'm at a total loss of where to go with this one. The one for my delivery gig work was simple because I was making money right off the bat. I'm not sure when the start of business actually qualifies for something like a YouTube channel—whether it's when the work on the videos themselves begins, or when they're uploaded, or when you actually qualify for ad revenue. Any help would be greatly appreciated. Thanks! I am also encountering this issue right now. I'm in a very similar situation where I’ve invested in equipment for a YouTube channel that's still in development, and I’m unsure how to handle the tax side of it. Like you, I haven’t officially launched or earned revenue yet, so I’m unclear whether these should be reported as startup costs this tax year or deferred until actual income is generated. The distinction between what counts as a startup expense and what might fall under regular business expenses (like a new GPU added later) is also something I’m struggling with. It’s definitely confusing figuring out when a content creation business “officially” starts for IRS purposes. Any clarity or guidance from others would be hugely appreciated.

Yes.  More than $1,000 will trigger a penalty. So if you usually owe less than $1,000 but this year it was more than $1,000, you would owe a penalty.  Since you did not pay any taxes in you would not qualify for the paid 100% of last years tax liability.   If you recently retired (within the last 2 years) you may be able to claim the penalty waiver by filling out form 2210.   You will find this under  Other Tax Situations Additional Tax Payments Underpayment penalties  Also, when you get towards the end of the return, you should be asked by TurboTax if you want to apply for the penalty waiver.  

The codes in Box 7 depend on the type of distribution you received. Box 7 Code 7 is for a pension that you are receiving on a regular basis. For more information about other codes that could apply, see the following TurboTax help article:   What do all the codes in Box 7 of the 1099-R mean?

Yes, various covers your issue.   When you're adding together the numbers the total is the row that they are in.  Each type of income is its own row and the countries are the columns.  Just add the rows.   The foreign source income is all that needs to be entered from the K-1.  You don't need to enter the US source income.   The second K-1 only has box 2 filled in as a way to make the computer program process the different types of income correctly.  This is not an IRS rule or anything.  So the only number that needs to be put on that second K-1 is the number from box 2.  It really is that simple.   @Rockpowwer 

Self-employment tax is in addition to ordinary income tax.  When you are self-employed you pay self-employment tax for Social Security and Medicare, since that is not being withheld from your pay by an employer.     https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/26653   https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922   https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/enter-self-employment-business-expenses-like-home/L1k6HJY4A_US_en_US?uid=m6jrthmp     If you live in a state with a state income tax, you might need to make estimated payments to your state.   https://turbotax.intuit.com/tax-tips/small-business-taxes/the-home-office-deduction/L1RZyYxzv   https://turbotax.intuit.com/tax-tools/calculators/self-employed/   https://ttlc.intuit.com/community/business-taxes/discussion/self-employed-don-t-miss-these-tax-moves/00/3400413     https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/enter-schedule-c/L5Fz3j5us_US_en_US?uid=m6a6gknk  

The correct basis transfers over from the original property.  The basis for the original property here is $410,817 plus a $22,935 land basis.  To that you need to add whatever additional payments you made to acquire the new property or 'boot'.  I can't tell from your numbers what that was.  If you added $400,000 in cash then that increases your basis by $400,000.  You are only going to create one asset adding those two numbers together - the original basis and the boot.  Then you will start a new depreciation schedule using those numbers and since it is a commercial property you will depreciate it for 39 years.   What the new place is actually worth has no bearing on the depreciation calculation.  So here is the formula and you need to figure out the numbers -    NEW ASSET = Transferred depreciation balance at time of sale + cash or other property exchanged in the sale.  Depreciate for 39 years.   @atn888 

My wife inherited her mothers home which was sold and she received a 1099-S.  We were told by her brother and sisters that form 4797 was used to report this transaction without tax issues. I need to amend our return.

If you e-filed: Banking information for direct deposit is wrong or closed If you entered incorrect banking information for your refund, you can change it if your return is rejected.  If it is accepted, however, it is too late to change it.  The bank will reject the refund and send it back to the IRS.  Then the IRS will issue a paper check and mail it to the address you put on your tax return.  Expect a delay of at least a couple of weeks to receive your refund.   Here is what the IRS says about entering incorrect banking information https://www.irs.gov/help-resources/tools-faqs/faqs-for-individuals/frequently-asked-tax-questions-answers/irs-procedures/refund-inquiries/refund-inquiries-18       If your refund is sent back to the IRS—- make certain that the address you entered on your Form 1040 is correct.  And…open all mail, even if it looks like junk mail.