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4 weeks ago
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4 weeks ago
Can you just send me to somebody so I can start filing my taxes please?
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4 weeks ago
Where do I put in the over 65 additional deduction for the big beautiful bill?
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4 weeks ago
Overtime reported on Form W-2, usually Box 14, is entered on the W-2 entry screen. How you enter this depends on the version of TurboTax you are using. In TurboTax Online, choose "Overtime" from...
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Overtime reported on Form W-2, usually Box 14, is entered on the W-2 entry screen. How you enter this depends on the version of TurboTax you are using. In TurboTax Online, choose "Overtime" from the Category dropdown list for W-2 Box 14. If you don't see this dropdown, follow these steps: After you have entered all your W-2 information, you will come to a screen that says, "Review your box 14 info." On this page, choose the first option for "Overtime" from the Category dropdown list (if not already selected for you). Continue to the page “Deduct up to $12,500 of your overtime” and hit Continue. Follow the prompts to confirm and/or enter your eligible overtime premium pay and confirm you are not an exempt employee. In TurboTax Desktop: After you have entered all your W-2 information, you will come to a screen that says, "Box 14 is missing info." On this page, choose the last option for "Other (not classified)" from the Category dropdown list. Continue to the page “Let’s check for uncommon situations” and check the top box for “Overtime.” Continue to the page “Deduct up to $12,500 of your overtime” and hit Continue. TurboTax will ask you if you need help in calculating eligible over time or if you know what to enter. If you know what to enter, and you are not an exempt employee, you will then enter the amount of overtime that is eligible to be deducted on the page “Enter your deductible overtime…”
4 weeks ago
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4 weeks ago
I purchased an investment property in 2025 for $360,000. My latest tax bill has the following: Value as of 1/1/2024: $317,400 Land: $110,000 Improvements: $207,400 My current plan is to ta...
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I purchased an investment property in 2025 for $360,000. My latest tax bill has the following: Value as of 1/1/2024: $317,400 Land: $110,000 Improvements: $207,400 My current plan is to take the % $110,000/317,400 = 34.66% and calculate the land/improvement %'s for the purchase price of $360,000. This comes out to land: $124,776 and improvements: $235,224. Is this the appropriate methodology or is there a better way to calculate this?
4 weeks ago
1 Cheer
AMEN ! Always keep the lowest virtual footprint possible and never get complacent . I wouldn't even eFile, but NY requires it if you use TT
4 weeks ago
I am using desktop version why isnt it available there yet.
4 weeks ago
I use the desktop version. Also, it is a Q and not a O. Thanks for your help.
4 weeks ago
You can't change or add anything on the return that you just e-filed, nor can you stop it. It is too late, just like when you put an envelope in the mail slot at the Post Office. The IRS doesn't al...
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You can't change or add anything on the return that you just e-filed, nor can you stop it. It is too late, just like when you put an envelope in the mail slot at the Post Office. The IRS doesn't allow you to take it back.
You'll need to wait until the IRS has processed your return and sent your refund (if any). Then wait two to three months to see if you receive a letter from the IRS revising your original return. This happens fairly often for unreported income. The IRS will recalculate the tax you owe and send you a bill. This is a fairly easy process and a lot less hassle than preparing an amended return, which has to be printed and mailed (no e-file).
Note that you won't be able to file an amended return at all until mid-February, when TurboTax releases Form 1040X.
For more info:
Do I need to Amend?
How do I add a W-2, W-2c or form after I've already filed?
4 weeks ago
Go back to My Info on the left side of the online program screen. Edit the dependent and carefully check your answers to the questions.
Make sure you select them as your Child, that you selected ...
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Go back to My Info on the left side of the online program screen. Edit the dependent and carefully check your answers to the questions.
Make sure you select them as your Child, that you selected that they lived in your home for the Whole Year, that they did NOT provided over one-half of their own support (You Did), that you indicated there was no one else in the household providing support to them, and that you did NOT check the box labeled Not valid for employment in the Social Security number section.
If all your answers are correct then delete them as a dependent and re-enter.
4 weeks ago
ROTH IRA contributions are taxable, and withdrawals are tax free.
You said you didn't exceed the $7,000 limit.
There is a contribution limit of $7,000 on contributions for individuals yo...
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ROTH IRA contributions are taxable, and withdrawals are tax free.
You said you didn't exceed the $7,000 limit.
There is a contribution limit of $7,000 on contributions for individuals younger than 50 years old.
There is no limit to an authorized withdrawal.
Was this money you put into a Roth IRA?
If I've misinterpreted your question, please provide us with additional details
4 weeks ago
I am establishing a new rental property. TurboTax has the following categories and I am in need of help determining what can go in these categories: Abstract and Recording Fees Legal Fees, Titl...
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I am establishing a new rental property. TurboTax has the following categories and I am in need of help determining what can go in these categories: Abstract and Recording Fees Legal Fees, Title Search, Document Preparation Land Surveys Title Insurance Transfer or Stamp Taxes Expenses you Paid to the Seller From my closing ALTA, I am having trouble figuring out if the following line items go into these categories: Closing Tech Fee Condo Document & Review Underwriting Fees Flood Certification Fees Recording Fees - planning to put in "Abstract & Recording Fees" Recordation Tax - County Deed Transfer Tax - County - planning to put in "Transfer or Stamp Taxes" Transfer Tax - State - planning to put in "Transfer or Stamp Taxes" Title - CPL (Lender) Title - Full Search & Update Title - Lender's Title Policy Title - Closing Fee Title - Commitment/Policy Fee Title - Owner's Title Policy - planning to put in "Title Insurance" HOA setup fee
4 weeks ago
The TurboTax Free online edition is for very simple tax returns that do not require any other form or schedule other than the Form 1040. If your tax data requires entry on any other form or schedule...
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The TurboTax Free online edition is for very simple tax returns that do not require any other form or schedule other than the Form 1040. If your tax data requires entry on any other form or schedule then you must upgrade to the Deluxe edition or higher.
If you have not paid for the online edition you are using, have not filed your tax return or registered the Free edition, then you can clear your return and start over with a lower priced edition. Click on Switch Products on the lower left side of the program screen while working on the 2025 online tax return. Click on Clear & Start Over
Go to this TurboTax website for the Free online edition - https://turbotax.intuit.com/personal-taxes/online/free-edition.jsp
Please Note -
TurboTax Online: Important Details about Filing Form 1040 Returns with Limited Credits A Form 1040 return with limited credits is one that's filed using IRS Form 1040 only (with the exception of the specific covered situations described below). Roughly 37% of taxpayers are eligible. If you have a Form 1040 return and are claiming limited credits only, you can file for free yourself with TurboTax Free Edition or TurboTax Live Assisted Basic (if available), or you can file with TurboTax Full Service at the listed price.
Situations covered (assuming no added tax complexity):
W-2 income
Interest or dividends (1099-INT/1099-DIV) that don’t require filing a Schedule B
IRS standard deduction
Earned Income Tax Credit (EITC)
Child Tax Credit (CTC)
Student loan interest deduction
Situations not covered:
Itemized deductions claimed on Schedule A
Unemployment income reported on a 1099-G
Business or 1099-NEC income
Stock sales (including crypto investments)
Rental property income
Credits, deductions and income reported on other forms or schedules
4 weeks ago
@Esky2018 wrote:
I entered QMID I7Q6 and I received a validation error also.
Hopefully, a fix will be found in the near future.
Just went to my test online tax return and for the...
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@Esky2018 wrote:
I entered QMID I7Q6 and I received a validation error also.
Hopefully, a fix will be found in the near future.
Just went to my test online tax return and for the Home Energy Credits, entered QMID code I7O6 without any issues. Received an energy credit
QMID code breakdown-
The letter capital I
The number 7
The letter capital O
The number 6
4 weeks ago
Use the SSN you received in 2025 for the filing of your 2024 Form 8843. This identifier relates to who you are now and who you were during 2024. Make sure to use the form "For calendar year 2024".
...
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Use the SSN you received in 2025 for the filing of your 2024 Form 8843. This identifier relates to who you are now and who you were during 2024. Make sure to use the form "For calendar year 2024".
You are filing late, but the IRS might not penalize you if you can show by clear and convincing evidence that you took reasonable actions to become aware of the filing requirements and significant steps to comply with those requirements.
The Office of International Students and Scholars of Yale University publishes an easy to read description of Form 8843 provisions and instructions.
We also include a link to Form 8843 and its instructions.
4 weeks ago
1099 MISC FOR SOLAR ENERGY
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4 weeks ago
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4 weeks ago
Perhaps all of the cryptocurrency upload software is not yet operational.
The TurboTax Help How do I upload a CSV file of my crypto transactions? states:
Select +Add investments if you...
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Perhaps all of the cryptocurrency upload software is not yet operational.
The TurboTax Help How do I upload a CSV file of my crypto transactions? states:
Select +Add investments if you've already added some crypto info.
On the Let's import your tax info screen, select Enter a different way, Cryptocurrency, and then Continue.
Follow the onscreen instructions to upload your cryptocurrency.
In TurboTax Premium Online, if I select Enter a different way, I do not receive the Cryptocurrency prompt. Nor do I receive a prompt for a CSV file.
This tax year introduces a new IRS tax form 1099-DA Digital Asset Proceeds From Broker Transactions.
IRS Form 1099-DA will be used by brokers to report proceeds from (and in some cases, basis for) digital asset dispositions to you and the IRS.
@ss8423OakRunCourt
4 weeks ago
3 Cheers
I entered QMID I7Q6 and I received a validation error also. Hopefully, a fix will be found in the near future.