All Posts

You should not have "0" or blank in Part III, Column B for any month that someone in your household had coverage under a Marketplace plan.  You need an SLCSP premium every month that you had coverage.    If this is the case on your form. you can use the government's tax tool to get the premium for your second lowest cost Silver plan. I checked the link and they now have the option to select 2025.  Failure to do this will result in a wrong calculation of the premium tax credit.   Once you have your premium amounts, make sure that your entries for Form 1095-A are correct, that you marked all the correct boxes in TurboTax. To go back through your entries:   Open or continue your return. Navigate to the 1095-A section: TurboTax Online/Mobile: Go to 1095-A. TurboTax Desktop: Search for 1095-a, then select the Jump to link.   What is the Premium Tax Credit (PTC) and What is Tax Form 8962?

Family and Medical Leave Act (FMLA) and Paid Family Leave (PFL) are different. FMLA gives you unpaid time off and protects your job. PFL usually pays part of your wages. They often run at the same time.   You don't have to check PFL if it is included in Box 1 of your W-2.   You check the box if you received a 1099-G specifically for state-paid family leave. If this is your case, see the link below for further information: Where to report PFL in TurboTax  

Yep, it's February 1st and ANOTHER YEAR of waiting for Turbotax to get it together and provide forms. This is the last step I need and it is yet another year of waiting on this billion dollar cabal to post forms... 

I like MindyB's answer, more than I know! But if I didn't have that answer of how to get around the fact that a 1099-NEC shouldn't have been issued, it should have been a 1099-MISC, I would go back to the company that bought the instrument and ask them to correct the error and send the corrected version to myself and the IRS. I had to do that with an incorrectly issued / configured 1099-K once, and the company did correct it.

100% agree.  I have the same questions.  A QTP-to-Roth transfer shouldn't increase your taxable earnings, but TT may not want to assume that, since there are likely situations where a QTP-to-Roth transfer doesn't qualify under the rules.  For example, if you transfer more than $35,000 over a lifetime.  They may tell us not to input the 1099-Q, which was the answer last year.  Box 6 is terribly worded.  They need to follow the 1099-Q -- but wonder how the answer is programmed into TT.

We cannot see your screen, your return or your account.  Have you entered ALL of your 2025 information?  All your income, etc.?  Many tax documents that you need do not arrive until late January or even February, so maybe you do not have it all there yet.   There are a lot of variables that affect your refund or tax due including how much you earned, how much tax you had withheld, your filing status, the number of dependents you claim, your deductions and credits, etc.  You may have lost Earned Income Credit or the Child Tax Credit— did a child turn 17?  If you received the EIC last year, remember that changes in the amount you earn have a big effect on the amount of EIC you can get. (Sometimes earning more money means less EIC)  Are you 65 or older ?  If so, your standard deduction is higher. Everyone has a higher standard deduction now so it is harder to use itemized deductions.   And of course, always check your own data entries, looking for errors such as misplaced decimals or extra zeros.   https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/refund-go-compared-last-year/L97JmhUbi_US_en_US?uid=ld9ijm41   Print out 2024  and 2025  and compare them side by side to see what is different.    https://turbotax.intuit.com/tax-tips/tax-payments/video-why-would-i-owe-federal-taxes/L3VXudPiN

It depends.  Many seniors 65 and up are eligible, but this deduction has income limitations.  It begins phasing out at income of $75,000 for a single filer (or $150,000 married) and is completely phased out at income of $175,000 for a single filer (or $250,000 married).   This additional deduction for seniors is calculated automatically based on the birthday you have entered in your tax return.   This deduction is located on Schedule 1-A Additional Deductions, Part V. The total additional deductions will be summed and appear on your 1040, line 13b.

We anticipate the depreciation calculations within the software should be updated after February 13, 2026. Our tech team is working hard to release the updates before that date.    Please be aware that this update will affect depreciation for Schedule E (Rental Properties) only. Schedule C (Self-Employment) was updated previously and should be working in all versions of TurboTax..