turbotax icon
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

All Posts

Wait for the S/W update...it will give you a new form 1040 - Schedule 1 to show your tips
Since many taxpayers don't enter their 1099-Q (entire distribution was for qualified expenses), you can check the 'Trustee to Trustee' option and then report the IRA contribution in that section sepa... See more...
Since many taxpayers don't enter their 1099-Q (entire distribution was for qualified expenses), you can check the 'Trustee to Trustee' option and then report the IRA contribution in that section separately.  Here's more info on Reporting Roth Rollover from 1099-Q.   @McMayo4 
This years Turbo Tax behaves significantly different from previous years. I can't seem to locate how to download taxable information from Schwab. It had been very intuitive. This year's TT seems to w... See more...
This years Turbo Tax behaves significantly different from previous years. I can't seem to locate how to download taxable information from Schwab. It had been very intuitive. This year's TT seems to want me to key in the transactions. Can someone advise me on how to download from my broker?
Please clarify - where are you seeing this error?  Have you reviewed the tax return yet to make sure that your numbers are carrying over to the correct forms?
Sorry that does not work. First you cannot alter what the W2 shows...flag for audit. Also, if you put a number in Box 7 (your tips) and deduct it from Box 1 (Salary, Tips, etc) your tax will increase
 I see where you got 57,156.  You don’t add the premiums and withholding to the net benefits in box 5.   Box 5 is not the net amount you got in the bank.   Box 5 is the Total income you got from Soci... See more...
 I see where you got 57,156.  You don’t add the premiums and withholding to the net benefits in box 5.   Box 5 is not the net amount you got in the bank.   Box 5 is the Total income you got from Social Security before (not minus)  the tax withholding and insurance premiums were deducted.
@DaveF1006    Thanks for clarifying how to fill out 8949 correctly.  I am taking itemized deductions as opposed to standard.   If I take all of the foreign taxes as a deduction as opposed to a cr... See more...
@DaveF1006    Thanks for clarifying how to fill out 8949 correctly.  I am taking itemized deductions as opposed to standard.   If I take all of the foreign taxes as a deduction as opposed to a credit, they go on Line 6 of Schedule A.   Is it possible to take foreign tax credit on 1116 for the 1099-DIV and 1099-INT and take foreign tax deduction on Line 6 of Schedule A for the $15K held at source for the house sale?   I have read 1116 instructions and Pub 514 and normally you take either a deduction or a credit for all foreign taxes for that year.  However, exceptions apply where you can mix and match in situations where part of the foreign taxes are disallowed as a credit due to certain reasons, in which case you can take those taxes as a deduction.  Clearly the $15K is on a long term loss ($50K sale proceeds - $150K basis).  Publication 514 mentions one such reason (Covered Asset Acquisition) where the credit may be disallowed and then it can be taken as a deduction.   It appears to me this applies to the inherited home sale because for US there is a stepped up cost basis while not so for the foreign country.     Please let me know if this will work.  The problem is I cannot understand the referenced material: Section 901(m) and the referenced Treasury Decision. Filling out the Turbo Tax 1116 for the 1099-DIV and 1099-INT credit and Schedule A Worksheet for the $15K deduction are easy - I just need to confirm this is okay.    
Just to close the loop on this issue. After Gabi assisted in opening a support ticket and I submitted my turbotax tax files using the software, a support ticket was opened and I got an email from Tur... See more...
Just to close the loop on this issue. After Gabi assisted in opening a support ticket and I submitted my turbotax tax files using the software, a support ticket was opened and I got an email from TurboTax support on Feb 12th stating that the issue had been fixed in the latest update to the TurboTax software. So if you are experiencing this issue, make sure you have the most up to date version of TurboTax.
The amount on Form 1040 line 8 comes from Part I of Schedule 1. Look at Schedule 1. What line of Schedule 1 is the income on? Most likely either you entered the W-2 forms incorrectly, or the form... See more...
The amount on Form 1040 line 8 comes from Part I of Schedule 1. Look at Schedule 1. What line of Schedule 1 is the income on? Most likely either you entered the W-2 forms incorrectly, or the forms you have are not actually W-2 forms. Are they 1099-NEC or 1099-MISC?  
Just a suggestion, Intuit:  perhaps not label this so vague and you won't see a slew of irritated users.    The main rub is the "by February" wording that has not changed since Feb 1 has come and g... See more...
Just a suggestion, Intuit:  perhaps not label this so vague and you won't see a slew of irritated users.    The main rub is the "by February" wording that has not changed since Feb 1 has come and gone by almost 2 weeks - without any updates proactively to its users.  I agree with another user's comment that we hope the logic and completeness of the depreciation and amortization section will be better than the poor use of language in its place.    And I'm a bit concerned that you're not flagging incompleteness for all of us who have repeatedly tried to edit the data for depreciation and amortization and keep getting this vague message - clearly a flag that we have entries for this purpose.  I almost submitted my taxes before I remembered this was not yet done - but Intuit stated "looks good to submit!!!"   I'll be really curious if we receive a proactive update via email when this section is ready...?  
The error goes away when I answer single filing prior year (not true) then Joint filing prior year the second time asked.
How do I record and get the FMV for items/clothes donated to Goodwill, Salvation Army, etc?  I previously recoreded then imported from itsdeductible.  Is it there a way to enter donations directly in... See more...
How do I record and get the FMV for items/clothes donated to Goodwill, Salvation Army, etc?  I previously recoreded then imported from itsdeductible.  Is it there a way to enter donations directly into the desktop software?  I haven't purchased yet after finding out about itsdeductible. 
Further to previous reply: This year, for a NY Business return, I had to wait until the day after the one shown in the table for it too work, so don't take it as gospel.  Doing your taxes promptly h... See more...
Further to previous reply: This year, for a NY Business return, I had to wait until the day after the one shown in the table for it too work, so don't take it as gospel.  Doing your taxes promptly has downsides.   Unlike your experience, a phone rep emailed me the NY Businees Tax (only) chart after he figured out what the problem was.  I found the source page by trial & error today so that I could answer your question.   Good luck.  
Oh yeah, they probably didn't enter what the SSA calls the Net benefits on box 5.   The difference  between the 49k number and the 57k number is exactly the total of all the Medicare insurance, and... See more...
Oh yeah, they probably didn't enter what the SSA calls the Net benefits on box 5.   The difference  between the 49k number and the 57k number is exactly the total of all the Medicare insurance, and Fed withholding deductions
Since ItsDeductible is no longer available, this response from TurboTax is incorrect.  It seems that you now have to perform the following steps to try to get credit for donating items to a charity: ... See more...
Since ItsDeductible is no longer available, this response from TurboTax is incorrect.  It seems that you now have to perform the following steps to try to get credit for donating items to a charity: Once you are in Deductions & Credits: 1.  Select Add another charity to the Your charities and donations page 2.  Enter the Charity name and select Items and Stock, then hit Continue 3.  Select the Type of donation, enter the Date of donation and donation value, then hit Continue (You'll have to use another program to determine the fair market value that is acceptable to the IRS in determining donation value) 4.  Input the item description and select Thrift Shop value, then hit Continue 5.  If you donated more than 1 item, select Add another item 6.  Repeat steps 3-5 for all other items donated until you are done and select Done instead of Add another item This is extremely tedius, requiring 8 entries/clicks per item donated.  If I donated to Goodwill 4 times in the year with 10-15 items donated each time, it will take me hours to complete this since TurboTax does not have a replacement for ItsDeductible - I'll be using H&R Block next year unless they fix this first.    
@daveboom If you know the amount of the tips then enter them in box 7.  After you complete entry of the W-2, the TurboTax program will automatically calculate the deduction and enter it on your Form ... See more...
@daveboom If you know the amount of the tips then enter them in box 7.  After you complete entry of the W-2, the TurboTax program will automatically calculate the deduction and enter it on your Form 1040 Line 13b.
My question isn't whether I qualify as HOH. My post was to suggest that turbotax is incorrectly checking the box on the Form 1040. I am unmarried (divorced) and filing as HOH, so it seems like this b... See more...
My question isn't whether I qualify as HOH. My post was to suggest that turbotax is incorrectly checking the box on the Form 1040. I am unmarried (divorced) and filing as HOH, so it seems like this box shouldn't be checked by Turbotax
has this been updated in turbo tax yet i have not been able to find where to claim the tips my employer included in gross income but did not list separately as tips (box 7?)
I was finally able to resolve my issue - wow! once I put the total amount of all my IRAS (excluding roth) from 2025, it worked and it showed the amount i owe to the IRS. I wanted to come back to than... See more...
I was finally able to resolve my issue - wow! once I put the total amount of all my IRAS (excluding roth) from 2025, it worked and it showed the amount i owe to the IRS. I wanted to come back to thank you for trying to help me. 
I have used TT for probably 10 years now.  This issue with the rental property depreciation form is really a pain.  Hope that the product cost does not rise the later you submit and file in the tax s... See more...
I have used TT for probably 10 years now.  This issue with the rental property depreciation form is really a pain.  Hope that the product cost does not rise the later you submit and file in the tax season.  Making me rethink continuing with this platform.