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a month ago
Looks like it's still it ready. Maybe this weekend I guess.
a month ago
@Gatto0811 Enter your employer reported Tips in box 7, then the TurboTax program will automatically calculate the deduction and enter it on the Form 1040 Line 13b.
a month ago
Hello I got married in Mexico with my wife in 2023. She has never been in the US. My question is can I file MFJ? Can I file for an ITIN for her?
a month ago
Topics:
a month ago
"Please confirm that my understanding here is correct" Correct. "But how does the new vendor know that?" They don't, and it's not their responsibility to know that. It's your responsibi...
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"Please confirm that my understanding here is correct" Correct. "But how does the new vendor know that?" They don't, and it's not their responsibility to know that. It's your responsibility to report it correctly on your tax return. Because they know that you are over age 59½, they'll use code T rather than code Q on any Form 1099-R for a distribution from any particular Roth IRA that they do not know has met the 5-year qualification requirement. You'll need to tell TurboTax yourself that you had a Roth IRA long enough ago to satisfy that requirement so that TurboTax will treat code T the same as code Q so that no Form 8606 Part III is prepared. The IRS knows the year for which you first made a contribution to a Roth IRA because all contributions were reported to them on Forms 5498.
a month ago
Not applicable. The change in tax liability only occurs when I indicate that the 2025 Traditional IRA contribution was made between 1JAN26 and 15APR26. This should have no impact on the tax liabil...
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Not applicable. The change in tax liability only occurs when I indicate that the 2025 Traditional IRA contribution was made between 1JAN26 and 15APR26. This should have no impact on the tax liability as you are allowed to make 2025 Traditional IRA contributions until 15APR26.
a month ago
1 Cheer
i have heard from multiple sources (including TT today) that a fix is supposed to go in today for this issue. while i am not overly optimistic, the fact that it worked fine for me in 2022, 2023, and ...
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i have heard from multiple sources (including TT today) that a fix is supposed to go in today for this issue. while i am not overly optimistic, the fact that it worked fine for me in 2022, 2023, and 2024 makes me believe TT can actually fix this. keep your fingers crossed!
a month ago
dMertz, thank you for this detail. Thank you for clarifying what "J" means as well. I received no 1099-B I'll try and make this easier to understand: " The only listed reason might seem...
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dMertz, thank you for this detail. Thank you for clarifying what "J" means as well. I received no 1099-B I'll try and make this easier to understand: " The only listed reason might seem to apply is that the distribution was deposited into an remained in an account that the taxpayer mistakenly thought was an eligible retirement plan".... dMertz, this is exactly what happened. I took that IRA Roth and by mistake put it into a non IRA account. I did this last November. I didn't realize it until I received my 1099R. Thus the custodian says I have longterm and short term gains. But I'm flummoxed as why I would have those? Because I held the Roth for 20 years? Or because when they fix the mistake and put the $ back into an IRA, I will have to thus pay the above? Custodian told me I will have to pay taxes in 27, for the distribution. My goal remains to not have to pay any capital gains....which is the main task I have at hand now. This is the main issue I have now.
a month ago
1 Cheer
For several years I have used TurboTax's "import" feature to import 1099 brokerage data. No problems until TY2025. I can view and download 2025 1099-DIV, 1099-INT and 1099-B forms from Schwab an...
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For several years I have used TurboTax's "import" feature to import 1099 brokerage data. No problems until TY2025. I can view and download 2025 1099-DIV, 1099-INT and 1099-B forms from Schwab and Vanguard using their respective portals. And I can successfully log into the Schwab and Vanguard accounts using the TurboTax import feature. I even get a browser splash screen at the end of each import saying my data was successfully imported and to return to TurboTax. However, when I return to TurboTax I am at the same screen giving me the option to either "Skip Import" or "Continue". The latter option restarts the import process with the same result. An endless loop. None of the successfully imported data appears in either the Step-by-Step view or the Forms view. Have tried skipping to another topic and then returning to the Dividends, Interest, or Stock Sales tabs. Have tried saving, exiting TT, restarting computer and restarting TT. Have searched for imported data (which I cannot find in a brokerage by brokerage format this year). Using TurboTax Home and Business desktop version on a Windows computer running Windows 11 and Chrome browser. Did notice that during the very first import attempt a security message popped up (from Windows or Norton ???) asking if I wanted to allow something (TurboTax, brokerage, browser or something else ???) to search for other computers on my network: I said NO since I never had to allow such a search in prior years. Any suggestions?
Topics:
a month ago
Thank you. So far, 1099R, 1099B. Will try the 1099R work around. The one form I added was #5, the first 4 were to be updated from 2024. All 5 are blocked now, says needs review with no option to ...
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Thank you. So far, 1099R, 1099B. Will try the 1099R work around. The one form I added was #5, the first 4 were to be updated from 2024. All 5 are blocked now, says needs review with no option to do so. Following your direction, If i delete all via 5 forms and start over that is a step in the right direction. Thanks. 1099B option never comes up. May have to try and force those via forms as well. Starting my evaluations of other tax return options. I understand they have a glitch or 2, but the lack of info is unprofessional. They need a banner with a daily, at least, update.
a month ago
2 Cheers
what is the problem with the import function in 2025 edition. this is unbelievable.
a month ago
1 Cheer
@jlkosta I am using the 2025 TurboTax Premier desktop edition for Windows. The Schedule 1-A is included when using Forms mode.
The current Version for Windows is 025.000.0247. To find the ver...
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@jlkosta I am using the 2025 TurboTax Premier desktop edition for Windows. The Schedule 1-A is included when using Forms mode.
The current Version for Windows is 025.000.0247. To find the version click on Help, About TurboTax, Version tab
If you are at the current version, then try a manual update.
See this TurboTax support FAQ for a manual update for Windows desktop editions - https://ttlc.intuit.com/turbotax-support/en-us/help-article/update-products/manually-update-turbotax-windows-software-basic/L3Wf9OPaf_US_en_US
a month ago
Yes, otherwise it won't. TurboTax messes this up on occasion depending upon how the data is entered.
a month ago
I understand your reply, but again, it does not really answer the question. My tips are already included in Boxes 1, 3, and 5 on my W-2, and I have been taxed on those tips for the entire year. Bloc...
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I understand your reply, but again, it does not really answer the question. My tips are already included in Boxes 1, 3, and 5 on my W-2, and I have been taxed on those tips for the entire year. Blocks 7, 8, and 14 are empty. When I try your recommended approach, and add in the amount of the tips based on end of year pay stub, I am effectively adding new income to be taxed, and my return reflects just that. The Overtime provision works well, but the tips income needs to be addressed. I know that the online version has been modified to account for the no tax on tips provision, but the desktop version has not. Is TurboTax issuing a new update for desktop users?
a month ago
Sorry, typo. 2025. Yes, the capital loss carryover worksheet. If go to IRS instructions, Line 1 of worksheet indicates 1040 line15, with the following clarification: “If the amount would have been ...
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Sorry, typo. 2025. Yes, the capital loss carryover worksheet. If go to IRS instructions, Line 1 of worksheet indicates 1040 line15, with the following clarification: “If the amount would have been a loss if you could enter a negative number on that line, enclose the amount in parentheses. When you read 1040 Line 15, it says subtract line 14 from line 11b. The Turbotax worksheet is inputting an amount equal to Line 11b minus line 12e (NOT Line 14). This results in an incorrect calculation.
a month ago
I am not able to import tax document into my TurboTax. I can login to my brokerage account successfully via TurboTax import and it says "Connection Complete! Success! We got your tax data. You can no...
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I am not able to import tax document into my TurboTax. I can login to my brokerage account successfully via TurboTax import and it says "Connection Complete! Success! We got your tax data. You can now return to TurboTax." However, I do not see any data getting pulled in the TurboTax. I have tried many times and the same issue.
a month ago
Did you say that less than 100% of your income was earned from the Home Office? That is almost always what trigger it (and unfortunately, the way the law reads causes the bizarre result that you are...
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Did you say that less than 100% of your income was earned from the Home Office? That is almost always what trigger it (and unfortunately, the way the law reads causes the bizarre result that you are seeing).
a month ago
1 Cheer
You haven't mentioned anything that would result in the estate beneficiary receiving a Form 1099-R. You have only mentioned the beneficiary receiving a distribution from the estate. With the income...
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You haven't mentioned anything that would result in the estate beneficiary receiving a Form 1099-R. You have only mentioned the beneficiary receiving a distribution from the estate. With the income to the estate passed through to the estate beneficiary(s), the estate beneficiaries will have to come up with the funds to pay the resulting increase in their tax liability. They'll eventually receive a distribution from the estate of whatever tax withholding is refunded to the estate. What should generally happen with a distribution paid to the estate is that the executor should request that no taxes be withheld from the distribution. That way the beneficiary(s) would not have to wait to get that portion of the distribution, perhaps making it easier to have the cash to pay the increased tax liability determined on their individual tax return(s)..