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a month ago
To enter, edit or delete a form 1099-R -
Click on Federal Taxes (Personal using Home and Business) Click on Wages and Income (Personal Income using Home and Business) Click on I'll choose what I ...
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To enter, edit or delete a form 1099-R -
Click on Federal Taxes (Personal using Home and Business) Click on Wages and Income (Personal Income using Home and Business) Click on I'll choose what I work on (if shown) Scroll down to Retirement Plans and Social Security On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button
a month ago
You can deduct interest on a construction loan for your personal home if it becomes your qualified residence within 24 months of construction starting, treating it as mortgage interest on Schedule A,...
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You can deduct interest on a construction loan for your personal home if it becomes your qualified residence within 24 months of construction starting, treating it as mortgage interest on Schedule A, but only if the loan is secured by the property
a month ago
The actual Form 4562 that is filed with your return is just a Summary of the Depreciation for the current year and only lists out the new assets and not the prior the items. You may have a 4562 Depre...
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The actual Form 4562 that is filed with your return is just a Summary of the Depreciation for the current year and only lists out the new assets and not the prior the items. You may have a 4562 Depreciation and Amortization Report which does list all the items including fully depreciated items. Before filing you can preview the 1040 or print the whole return https://ttlc.intuit.com/community/accessing/help/how-do-i-preview-my-turbotax-online-return-before-filing/00/26160 If you don't have the 4562 Depreciation and Amortization Report or need more info you need the Asset Life History. The history is only available in the Desktop program not the Online version. If you are using the Online version you would have to download your .tax20yy file and open it in the desktop program.
a month ago
1 Cheer
This is NOT resolved; I purchased from Costco and it doesn't work. They sent a new one and that doesn't work either. TT needs better programmers to get past this issue.
a month ago
Do you have income requiring you to file?
a month ago
My spouse received multiple 1042-S as a nonresident alien last year, 3 on 3-7-25 and 2 on 3-12-25. We are filing an amended 1040 for 2024 and need to know which realized capital gain to show: all of ...
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My spouse received multiple 1042-S as a nonresident alien last year, 3 on 3-7-25 and 2 on 3-12-25. We are filing an amended 1040 for 2024 and need to know which realized capital gain to show: all of the 5 amounts, or does the more recent 3-12-25 1042-S supersede the older 3-7-25 form? Also, according to the below, since she had no other income than investments, perhaps we don't need to show any investment capital gains? Thanks. f You Receive Form 1042-S, Does That Mean You Have U.S. Tax Obligations? "No, this does not trigger automatic U.S. filing requirements. As mentioned above, certain types of income received are passive in nature and are subject to a flat tax corresponding to the statutory 30% withholding. If that constitutes the entirety of your US-sourced income, you likely do not have a filing requirement, since IRS already has their money. "
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a month ago
Scheduled for January 21.
a month ago
The loan was in the builder's name, but we paid the intereset on the loan for four months before we purchased the home.
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a month ago
After January 21.
a month ago
My spouse received multiple 1042-S as a nonresident alien last year, 3 on 3-7-25 and 2 on 3-12-25. We are filing an amended 1040 for 2024 and need to know which realized capital gain to show: all of ...
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My spouse received multiple 1042-S as a nonresident alien last year, 3 on 3-7-25 and 2 on 3-12-25. We are filing an amended 1040 for 2024 and need to know which realized capital gain to show: all of the 5 amounts, or does the more recent 3-12-25 1042-S supersede the older 3-7-25 form? Also, according to the below, since she had no other income than investments, perhaps we don't need to show any investment capital gains? Thanks. f You Receive Form 1042-S, Does That Mean You Have U.S. Tax Obligations? "No, this does not trigger automatic U.S. filing requirements. As mentioned above, certain types of income received are passive in nature and are subject to a flat tax corresponding to the statutory 30% withholding. If that constitutes the entirety of your US-sourced income, you likely do not have a filing requirement, since IRS already has their money. "
a month ago
After you enter your W-2 any unreported Tips is entered. On the screen Let's check for other situations, check the box Tips not reported on my W-2. Tips reported to your employer should have been o...
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After you enter your W-2 any unreported Tips is entered. On the screen Let's check for other situations, check the box Tips not reported on my W-2. Tips reported to your employer should have been on your W-2 in box 7.
a month ago
@Mike9241
I think you are correct. What tripped me up was the title of the header "Giving property that has increased in value" (which used hearing aids do not do), and the first sentence which i...
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@Mike9241
I think you are correct. What tripped me up was the title of the header "Giving property that has increased in value" (which used hearing aids do not do), and the first sentence which is "giving property whose FMV is more than the basis" which is a similar but different concept.
@knowitall80
I agree that you can claim the FMV for the hearing aids if you have owned them more than one year, regardless of whether your spouse is alive or not.
My previous answer is still partly true, however. If your spouse has passed away, then your basis is equal to half or all of the FMV (depending on what state you live in) and you could claim that value even if it has been less than a year.
a month ago
1 Cheer
Everyone....Here's some posts I found about Transferring from 2024 into 2025 on Mac. This post got it to work a weird way…. https://ttlc.intuit.com/community/taxes/discussion/2025-turbo-tax-will-...
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Everyone....Here's some posts I found about Transferring from 2024 into 2025 on Mac. This post got it to work a weird way…. https://ttlc.intuit.com/community/taxes/discussion/2025-turbo-tax-will-not-import-my-information-from-my-2024-turbo-ta/01/3723096 "I was having the same issue and stumbled upon a workaround. I tried opening the 2024 return using the 2025 software. Then a dialogue box opened up offering to transfer the file and this actually worked." This user found he didn't hit the Begin button to start https://ttlc.intuit.com/community/taxes/discussion/transfer-information-from-previous-year-s-turbotax/01/3723027 Several ideas and fixes in this thread. https://ttlc.intuit.com/community/taxes/discussion/attempting-to-import-last-year-s-tax-return-but-turbotax-will-not-do-it-found-the-correct-file/00/3718897 Some posts I found said…. After the program said it successfully transferred the information, I would click through and then it didn't show anything. All the fields were blank. I tried multiple times. What finally seems to have worked is I chose to select a file from my computer, instead of the .tax file that automatically showed up to select. I just saw another post where someone said they kept "fiddling with it" so I exited out of 2025 TurboTax and back in again and then it worked....so I transferred it quick! I opened my 2024 tax file using TurboTax 2024. It notified me that there were updates necessary to the software. I allowed it to update TurboTex 2024 and open my last-year's file. Then I re-saved the file. I then quit TT2024, re-opened TT2025, and was able to transfer the data.
a month ago
I get this error when I select "Donations to Charity in 2025". Using Deluxe desktop version
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a month ago
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a month ago
Taxable Social Security benefit in 2024 - This is my question. Do I enter $16,632 or do I enter $0? It says enter zero if your social security benefits weren't taxable but not sure how to answer. ...
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Taxable Social Security benefit in 2024 - This is my question. Do I enter $16,632 or do I enter $0? It says enter zero if your social security benefits weren't taxable but not sure how to answer. TurboTax software wants you to enter the taxable Social Security benefit that was reported on the 2024 income tax return that has already been filed. If you had not received any Social Security benefit prior to the 2025 lump sum payment, you would report $0.
a month ago
The Form 1099-R section is estimated to be finalized and available in TurboTax on 01/21/2026
a month ago
After you enter your W-2 any unreported Tips is entered. On the screen Let's check for other situations, check the box Tips not reported on my W-2. Tips reported to your employer should have been o...
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After you enter your W-2 any unreported Tips is entered. On the screen Let's check for other situations, check the box Tips not reported on my W-2. Tips reported to your employer should have been on your W-2 in box 7.
a month ago
I’m in my home country right now ( Egypt ), I was just asking because it shows that the federal taxes refund are accepted by the IRS and they estimated the reimbursement would be on 02/06/2026 but it...
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I’m in my home country right now ( Egypt ), I was just asking because it shows that the federal taxes refund are accepted by the IRS and they estimated the reimbursement would be on 02/06/2026 but it still said pending on the Maine state tax refund and I thought it might be something wrong from my side.
a month ago
Will the update be available as suggested in earlier posts?