All Posts

I can't tell why you would be prompted for 1099-G information.     The 1099-G is issued for Unemployment compensation State/local income tax refunds, credits, or offsets,  It can also include taxable grants, agricultural payments, or Commodity Credit Corporation (CCC) loan payments. Did you possibly enter something in the interview process. If you didn't get a 1099-G last year or this year, you don't need the form and can delete it.  

Are you using online "Live" ?    You can arrange for the Live help you are paying the extra fee for with your questions from 5 a.m. to 9 p.m. Pacific time. https://ttlc.intuit.com/turbotax-support/en-us/help-article/product-setup/connect-tax-expert-turbotax-live/L73wOZD5D_US_en_US?uid=m8zw1pbb

Thank you. I appreciate that. I think one very helpful line for me from your link was as below "Instead, the IRS grants penalty relief if a broker determines in good faith that an index is, or is not, a narrow-based index, following published guidelines." That appears to reduce my risk of an audit.   The next consideration would just be my tax situation. Unlike most options traders who are trading short term and 1256 is an advantage, I tend to hold LEAPs long term and sell after 1 year. For me 1256 is a negative as what would originally be long term only is now 60/40.    If a broker reports my holdings as 1256 when in fact my strategy is to hold them for longer than a year, do I have any option to have them treated as 100% long term with a self reported basis or am I required to also treat them under 1256?   Thank you!  

Here's how to get all the forms and schedules.   TurboTax Desktop: If you used the software installed on your computer, you must open the specific program for that year (e.g., open the TurboTax 2024 app). Open your saved .tax file. Go to File > Print. In the print window, select the radio button for "All forms and worksheets." Choose "Save as PDF" to keep a digital copy with every detail.

To check if you signed up for the TurboTax Refund Advance, you can look in a few specific places in your account or your email.    Check Your TurboTax Order Details On the Tax Home page, scroll down to the section for "Your tax returns & documents." Select View Order Details. Look for "Refund Advance" or "Credit Karma Money" listed under your payment and refund methods.  If it’s not there, you likely selected a standard direct deposit or a different refund option.   Look for Confirmation Emails If you applied, you should have received automated emails from TurboTax and its partners. From TurboTax: Search for an email confirming your "Refund Selection." From Credit Karma: If you were approved, Credit Karma sends an email when the funds are deposited into your Credit Karma Money Spend account. From WebBank: If your application was denied, you will receive an email from WebBank (the lender) explaining the reason for the decline.   Check Your Credit Karma Money Account Because the Refund Advance is deposited into a Credit Karma Money™ Spend account, checking that account is the fastest way to see if the loan was processed. Log in to your Credit Karma account. Navigate to the Money tab. If you see a pending or completed deposit for a portion of your refund (typically between $250 and $4,000) shortly after the IRS accepted your return, that is your Refund Advance.   Review Your Tax Return Summary You can also find clues on your actual tax forms: Open your 2025 return in TurboTax Go to the Tax Tools menu on the left Select Print Center View your Federal Information Worksheet Look at the "Direct Deposit" section If you signed up for the advance, the bank account listed will be the MVB Bank account associated with Credit Karma, rather than your personal bank account.