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4 weeks ago
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Did you make nondeductible Traditional IRA contributions in the past? If yes then your basis would get carried over to line 2 on Form 8606.
If you never made any nondeductible Traditional IRA c...
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Did you make nondeductible Traditional IRA contributions in the past? If yes then your basis would get carried over to line 2 on Form 8606.
If you never made any nondeductible Traditional IRA contributions or rolled over a nontaxable portion of a qualified retirement plan to the Traditional IRA then you will need to edit the basis screen during the 1099-R interview:
Click on "Search" on the top right and type “1099-R”
Click on “Jump to 1099-R”
On the "Review your 1099-R summary" screen click "Continue"
Answer "Yes" to "Did you have any nondeductible IRA contributions to your traditional IRA from 2024 or prior years?"
One the next screen edit the amount entered as basis on December 31, 2024.
Please see Form 8606 Line 2 instructions for additional details.
4 weeks ago
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4 weeks ago
It has do with a signature
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4 weeks ago
Hi. TurboTax isn't reading or uploading my PDF or CSV Gain/Loss file. How can I attach it? I am choosing varios dates for the sales of crypto and entering the proceeds and cost basis manually right now.
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4 weeks ago
I received a property tax rebate in 2025 that was reported on Form 1099-NEC. Is it taxable?
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4 weeks ago
I am a sole proprietor. I have not received my 1099K. I estimate my total income to be about 17K for 2025.
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4 weeks ago
I did have the correct number. For some reason once I did it on my phone app instead of my laptop it accepted that number. I don’t know. But thank you for your response. Now I am trying to figure out...
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I did have the correct number. For some reason once I did it on my phone app instead of my laptop it accepted that number. I don’t know. But thank you for your response. Now I am trying to figure out how to get off a Canadian pension thing that I never even said I had a Canadian pension… taxes are so fun
4 weeks ago
I received a schedule K-1 from my mothers estate in 2023 but I don't believe that fiduciary fees were deducted anywhere? Is this proper? In year 2024, I received a Schedule K-1 that showed only div...
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I received a schedule K-1 from my mothers estate in 2023 but I don't believe that fiduciary fees were deducted anywhere? Is this proper? In year 2024, I received a Schedule K-1 that showed only dividends. Should the fiduciary fees have been deducted from the dividends or shown as a separate line item on the form? I don't see where it would be entered except line 9, but that line appears to be for depreciation, depletion & amortization. I am very confused. (FYI, I understand that investment advisor fees are not included in fiduciary fees, and that fiduciary fees only include trust administration costs.) Thank you.
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4 weeks ago
I compared 2024 with 2025 and there is no sign of OBBB credit on my return. I guess TT is doing it automatically, but where is the credit?
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4 weeks ago
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4 weeks ago
@aisharobertson1994 wrote: how do i skip this option TurboTax has a lot of options. We can't know what "this" option is. Are you able to narrow it down to any particular one??? Then if so...
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@aisharobertson1994 wrote: how do i skip this option TurboTax has a lot of options. We can't know what "this" option is. Are you able to narrow it down to any particular one??? Then if someone is familiar with it, you should hopefully get some info in this forum.
4 weeks ago
how do i skip this option
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