All Posts

Box 16 of your 1099-R will show the distribution amount for the state, if any.  Here are some links that may be helpful for you when reporting the distributions from your inherited IRA:   Is an inherited IRA or retirement plan taxable? Where do I enter my 1099-R? What are required minimum distributions (RMD)? What's Form 1099-R?

This is a bug that has not been fixed as of Feb. 23 The bug is with the January 2024 HDHP coverage selection.  If you select that you had HDHP coverage in January 2024, TurboTax software does the opposite and thinks that you did not have coverage and applies the extra income penalty.   If you select "none" in January 2024 it thinks you did have coverage and does not apply the income penalty.   I will not pay $99 and have to lie to the software to get it to calculate my taxes correctly.  I'm switching to another company after this. 

Since you never had a PPO loan, you can look to see if you have a PPP loan statement in your program and if so, you can delete it. Use the Forms menu option to retrieve the form and delete it if you are working with the desktop TurboTax, otherwise:   Follow these instructions:   1. Choose the Tax Tools option on your left menu bar while working on your return 2. Choose Tools 3. Choose the Delete a form option under Other Helpful links  4. Find the PPP loan stmt in the list and delete it   If that doesn't work and you are working in the desktop version of TurboTax, use the Forms menu option to retrieve the PPP loan stmt in the list of forms. Look for the fields that are highlighted in red on that form and make entries as is required to remove the red highlights, which will mean you cleared the error.      

@RogerD1 @socyrdo Thank you, I'll proceed with submitting my taxes.  The $10000 limit on Maine Schedule 2 actually benefits me as the true Federal Schedule A line 5e value would reduce my overall Maine itemized deduction.

You can go to the nearest IRS office and they will print out your past tax forms for you.  Wasn't a fee for this service last time I did this, but it was a while ago.  (I am presuming that you did eventually get last year filed.)  Also, if you used TurboTax, check with their customer support to see if they can get a copy for you online.

When you use online TurboTax, there are separate fees for federal and state returns.    Mailing the state return will not remove the fee.  The fee is the same whether you e-file it or mail it in an envelope.   If you want to avoid paying for preparing and filing a state return you can delete the state and try preparing a state return on the state's tax site instead.   DELETE STATE https://ttlc.intuit.com/turbotax-support/en-us/help-article/state-taxes/delete-state-return-turbotax-online/L8v9awRbh_US_en_US?uid=m6fb06vp   CONTACT THE STATE   https://ttlc.intuit.com/turbotax-support/en-us/help-article/state-taxes/contact-state-department-revenue/L9qVToi02_US_en_US?uid=m6e06um0    

You can file your taxes free with TurboTax Free Edition if you have a simple 1040 Form without any schedules except for Earned Income Credit, Child Tax Credit and Student Loan interest.   Here’s the link to Start TurboTax for free.

Your Form 8915-F form is getting a Needs Review flag  because the form is not finalized yet.  Form 8915-F (Qualified Disaster Retirement Plan Distributions and Repayments) is expected to be available in TurboTax soon.    You can also check for forms availability using this link click here.   Your TurboTax program must be updated for full functionality of the form when it is available.   If you are using TurboTax Online, the program updates for new tax laws and other features automatically in your web browser. You do not have to manually update like in TurboTax desktop software.     If you are using TurboTax Desktop, you can manually check for updates for  your TurboTax program by clicking on "Online" in the black bar near the top of your screen and selecting "Check for Updates."     Please return to Community if you have any additional information or questions and we would be happy to help.  

Trading in cars ended in  2018 on tax forms. Each vehicle is a sale, no new car entry with a basis from the old. The cost basis should be what you paid times the lifetime business %. If this is not the correct number, everything else will be thrown off. The depreciation is calculated each year for the different amounts in standard mileage deduction so you got that right. The car has two parts, the personal part and the business part. The personal part loss does not affect your tax return. The business loss does.   I suggest you mark that you converted it to personal use in the vehicle section and avoid all of the above issues. Next, use another method to enter the disposition of the vehicle that is cleaner and you know where each number came from: Open to federal income Locate Other Business Situations Select Sale of business property (this is Form 4797) Description:  business portion of - your vehicle make/model. Sales price: trade in value times business use % Cost basis: purchase price X business use % Depreciation: the amount you calculated from standard mileage.