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4 weeks ago
To enter a Form 1099-MISC that is not for self-employment -
Click on Federal (Personal using Home & Business) Click on Wages & Income (Personal Income using Home & Business) Scroll down to Other ...
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To enter a Form 1099-MISC that is not for self-employment -
Click on Federal (Personal using Home & Business) Click on Wages & Income (Personal Income using Home & Business) Scroll down to Other Common Income On Form 1099-MISC, click the start or update button
On the screen Did you get a 1099-MISC?, click on Yes On the screen Let's get the info from your 1099-MISC, enter the amount received in box 3 and continue On the screen Describe the reason for this 1099-MISC, enter a reason and Continue On the screen Does one of these uncommon situations apply? - Select None of these apply and continue On the screen Did the (reason) involve work that's like (your name) main job - Select No and continue On the screen How often did (your name) get income for (reason) - Select 2025 and continue On the screen Did the (reason) involve an intent to earn money? - Select No and continue
The amount entered from the Form 1099-MISC will be entered on Schedule 1 Line 8z The total from Schedule 1 Part I Line 10 flows to Form 1040 Line 8
4 weeks ago
Sorry for the confusion, yes, you need to attach all pages of your amended federal 1040X to your state amended filing.
4 weeks ago
If Donation Form is labeled as "Untitled", all of the information has been removed from the form, and it will not print in your return.
You can proceed with confidence, or use that "Untitled F...
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If Donation Form is labeled as "Untitled", all of the information has been removed from the form, and it will not print in your return.
You can proceed with confidence, or use that "Untitled Form" to post new information.
4 weeks ago
Nondeductible traditional IRA contributions became permissible beginning in 1987. The maximum permissible annual contribution in 1987 through 2001 was $2,000, so $8,000 would represent at least 4 ye...
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Nondeductible traditional IRA contributions became permissible beginning in 1987. The maximum permissible annual contribution in 1987 through 2001 was $2,000, so $8,000 would represent at least 4 years of contributions, perhaps 1987 through 1991. Nondeductible traditional IRA contributions have always been required to have been reported on Form 8606, so unless you have specific recollection of having filed those forms, you would probably have difficulty substantiating that you have such basis. If you now claim the basis on Form 8606 and you get audited by the IRS, the IRS might disallow the use of the basis. Any contributions made before 1987 could only have been deductible contributions which did not add and basis in nondeductible contributions and would not reduce the taxable amount of any distribution.
4 weeks ago
To enter, edit or delete a form 1099-R -
Click on Federal Taxes (Personal using Home and Business) Click on Wages and Income (Personal Income using Home and Business) Click on I'll choose what I ...
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To enter, edit or delete a form 1099-R -
Click on Federal Taxes (Personal using Home and Business) Click on Wages and Income (Personal Income using Home and Business) Click on I'll choose what I work on (if shown) Scroll down to Retirement Plans and Social Security On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button
4 weeks ago
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4 weeks ago
Does anyone know when the online version is getting fixed for form 8283?
4 weeks ago
If you have money NOT at risk you can not take a loss on schedule C. If you don't know what it means then probably All your Investment is at Risk (check Box 32a). It means you are using your own mone...
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If you have money NOT at risk you can not take a loss on schedule C. If you don't know what it means then probably All your Investment is at Risk (check Box 32a). It means you are using your own money for the business. People usually check the wrong box. If you need to find where to change the At Risk box on line 32 here are my old notes. Hopefully they still work or will get you close. Go back to your Self-Employment Income. Click on Edit to review your business entries. Then scroll down to Uncommon Situations, click Edit and check or uncheck the box. If your investment is at risk, don't check the box. You may need to delete Form 6198 if you had the box checked and are now unchecking it. How to delete forms https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-forms/view-delete-forms-turbotax-online/L7SZhwCHv_US_en_US?uid=lgn2u570 You can get back to the question about your business investment being at risk by going to the Schedule C and finding the Final Details > Special Situations section (if using TurboTax Home and Business) or the Uncommon Situations section (if using TurboTax Online). One user said…. Scroll to the bottom of the screen until you see the Uncommon Situations section, then click Start or Edit beside Carryovers, limitations, at risk information. Within those sections, there will be a check-box to indicate 'I have money invested in this business that I'm not at risk of losing; that is, certain cash, property, or borrowed amounts that are protected from loss.' Uncheck that box if your investment in your business is not at risk.
4 weeks ago
Being a fulltime student for a semester usually meets the requirement to be considered a full time (FT) student for the year. But, there is a technicality that must be met. You must have been an FT s...
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Being a fulltime student for a semester usually meets the requirement to be considered a full time (FT) student for the year. But, there is a technicality that must be met. You must have been an FT student for parts of 5 calendar months. A semester from anytime in January (even Jan 31) to anytime in May (even May 1) meets that requirement. A semester from Jan-Apr or Sep-Dec does not.
Half time or more qualifies for the tuition credit.
Full time is more about dependency.
There are two types of dependents, "Qualifying Children"(QC) and Other ("Qualifying Relative" in IRS parlance even though they don't have to actually be related). There is no income limit for a QC but there is an age limit, student status, a relationship test and residence test.
A child of a taxpayer can still be a “Qualifying Child” (QC) dependent, regardless of his/her income, if:
He is under age 19, or under 24 if a full time student for at least 5 months of the year, or is totally & permanently disabled
He did not provide more than 1/2 his own support. Scholarships are excluded from the support calculation
He lived with the parent (including temporary absences such as away at school) for more than half the year
4 weeks ago
You mean to tell me you don't have a way to enter a Required Withdrawal WOW I thought Turbo Tax had it all?
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4 weeks ago
Topics:
4 weeks ago
Please clarify your question with some additional information about your situation. There are many places where an EIN is reported in your tax return. Let us know where you are working in your retu...
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Please clarify your question with some additional information about your situation. There are many places where an EIN is reported in your tax return. Let us know where you are working in your return that you need to change an EIN and someone may be able to guide you.
4 weeks ago
If you have money NOT at risk you can not take a loss on schedule C. If you don't know what it means then probably All your Investment is at Risk (check Box 32a). It means you are using your own mone...
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If you have money NOT at risk you can not take a loss on schedule C. If you don't know what it means then probably All your Investment is at Risk (check Box 32a). It means you are using your own money for the business. People usually check the wrong box. If you need to find where to change the At Risk box on line 32 here are my old notes. Hopefully they still work or will get you close. Go back to your Self-Employment Income. Click on Edit to review your business entries. Then scroll down to Uncommon Situations, click Edit and check or uncheck the box. If your investment is at risk, don't check the box. You may need to delete Form 6198 if you had the box checked and are now unchecking it. How to delete forms https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-forms/view-delete-forms-turbotax-online/L7SZhwCHv_US_en_US?uid=lgn2u570 You can get back to the question about your business investment being at risk by going to the Schedule C and finding the Final Details > Special Situations section (if using TurboTax Home and Business) or the Uncommon Situations section (if using TurboTax Online). Within those sections, there will be a check-box to indicate 'I have money invested in this business that I'm not at risk of losing; that is, certain cash, property, or borrowed amounts that are protected from loss.' Uncheck that box if your investment in your business is not at risk.
4 weeks ago
they fixed it today! It was definitely not fixed yesterday .. but the rather large update did fix the missing form today.
4 weeks ago
Last year I was able to enter my qualified 529 withdrawal for non-dependent tuition expenses. I'm unable to find where to enter that information. I get asked if the withdrawal was used to pay for a ...
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Last year I was able to enter my qualified 529 withdrawal for non-dependent tuition expenses. I'm unable to find where to enter that information. I get asked if the withdrawal was used to pay for a loan, but not tuition.
4 weeks ago
Estimated payments are entered as part of your Federal return.
Use these steps to enter the local (school district) estimated payments you made for your 2025 tax return:
On the top r...
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Estimated payments are entered as part of your Federal return.
Use these steps to enter the local (school district) estimated payments you made for your 2025 tax return:
On the top row of the TurboTax screen, click on Search
This opens a box where you can type in “estimated tax payments”
The search results will give you an option to “Jump to estimated tax payments”
Click on the blue “Jump to estimated tax payments” link
Click Start beside local estimated taxes for 2025
Or you can go to Federal > Deductions & Credits > Estimates and Other Taxes Paid > Estimates and click Start.
4 weeks ago
2 Cheers
Thanks @Hal_Al. I wish the form and or software were more clear about to save yours and my time.
4 weeks ago
If you are encountering an error with your 1099-INT, first delete the existing form and then create a new 1099-INT, following all the original entry steps carefully. Should you continue to receive th...
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If you are encountering an error with your 1099-INT, first delete the existing form and then create a new 1099-INT, following all the original entry steps carefully. Should you continue to receive the same error, try an alternative solution by entering only the two-letter state abbreviation in Box 15 before proceeding to the next step. Just in case, here's a breakdown of the steps from this article on how to enter them: Form 1099-INT reports interest from banks, brokerages, and other financial institutions. Choose your product for info on how to enter a 1099-INT. TurboTax Online Go to 1099-INT interest income screen under under Wages & Income Select Yes on the screen Did you receive any investment income? then Continue. If you see the screen Your investments & savings or Here's your 1099-INT info, select Add investments or Add another 1099-INT, then Continue. On the next screen, select how you want to enter your Form 1099-INT: If you want to import your form, search for your brokerage or financial institution. Sign in to your online account and select Get my form. If you want to upload a copy of your form or manually enter the info, select Enter a different way, and follow the instructions to enter your 1099-INT. TurboTax Desktop Open or continue your return. Select Federal Taxes, then Wages & Income. Locate the section titled Interest and Dividends, then select Start or Revisit next to Interest on 1099-INT. Select Yes on the screen Did you receive any investment income? then Continue. If you see the screen Your investments & savings or Here's your 1099-INT info, select Add investments or Add another 1099-INT, then Continue. On the next screen, select how you want to enter your Form 1099-INT: If you want to import your form, search for your brokerage or financial institution. Sign in to your online account and select Get my form. If you want to upload a copy of your form or manually enter the info, select Enter a different way, and follow the instructions to enter your 1099-INT. @Mawill-12
4 weeks ago
Unless you had health insurance from the marketplace (aka "Obamacare" aka Affordable Care Act aka healthcare.gov) you do not need a form for insurance. If you had marketplace insurance you must ...
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Unless you had health insurance from the marketplace (aka "Obamacare" aka Affordable Care Act aka healthcare.gov) you do not need a form for insurance. If you had marketplace insurance you must enter a 1095A. Otherwise, when it asks if you have 1095A, say NO and just move on.