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a month ago
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a month ago
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a month ago
Thank you
a month ago
Overtime eligible for the deduction is any overtime that is required by the Fair Labor Standards Act (FLSA). That mostly means the half-time when you get paid time and a half for working more than 4...
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Overtime eligible for the deduction is any overtime that is required by the Fair Labor Standards Act (FLSA). That mostly means the half-time when you get paid time and a half for working more than 40 hours in a week. If your rate is $20/hour and you worked 45 hours, your deductible overtime for that week would be $10 x 5 hours =$50·hour $50. If you get paid more than time and a half, only the "half" is eligible for the deduction because only the half is required by FLSA. If you get extra pay under a contract (shift differential for working night shifts, weekend or holiday pay when you don't go over 40 hours) that is also not eligible because it is a contract benefit, not a requirement under FLSA. If you are a supervisory employee who is "exempt" from FLSA, none of your pay is eligible for the deduction even if you get paid overtime.
Next year your qualifying OT will be reported on your W-2 but for this year you need to figure it out yourself from your pay stubs or other records.
a month ago
I just entered two rental properties and they are both showing on Sch E which means you may have a piece of data stuck. Follow these steps: Online version: Delete the form/ worksheet, see How to D...
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I just entered two rental properties and they are both showing on Sch E which means you may have a piece of data stuck. Follow these steps: Online version: Delete the form/ worksheet, see How to Delete Log out of your return and try one or more of the following: Don't use Internet Explorer. Clear cache and cookies, Sign in using a different browser. Sign in using a different device. Log back into your return. Enter the information again. Desktop version: Delete the form/ worksheet Save your return while closing the program. Update the program - you may need to several times Open Enter the information again.
a month ago
If you're using TurboTax Online, try clearing your Cache and Cookies and go back to your 1099-NEC entry for self-employment income. After entering your 1099-NEC, you should get a screen asking if 'a...
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If you're using TurboTax Online, try clearing your Cache and Cookies and go back to your 1099-NEC entry for self-employment income. After entering your 1099-NEC, you should get a screen asking if 'any of the income in Box 1 is from tips' and a box you can enter the amount of your tips.
The next screen asks for your industry type and role to see if you're eligible to claim tips. You'll be able to see your tips reported on Schedule 1-A when you view/print your return. If you can share what you're experiencing, we'll try to help.
@RR4544*
a month ago
How would i go about putting this in on my turbotax. The home sale was mid to late 2025 and i had state tax withheld at the time of sale. Proceeds were split due to mortgage from previous owner and t...
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How would i go about putting this in on my turbotax. The home sale was mid to late 2025 and i had state tax withheld at the time of sale. Proceeds were split due to mortgage from previous owner and then whatever was left after that payout was split 2 ways between my sibling and I. I have it under the investments section under "other" and "I inherited it" but once done it shows i have a massive loss since i didnt take 100% of the house payout only my share. Do i need to care about the massive loss listed? or is there some hidden section where i can make it clear how the payouts were made?
a month ago
Getting the same problem when trying to download a second state... Hummm.. hit a snag.... look i want a fix or please credit my amazon account the price of this software.... this is unacceptable!!!!
a month ago
Thanks so much for verifying the issue and reporting it to the developers! Thanks also for the possible workarounds. I've been able to move past that page for now, and will figure out how to cor...
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Thanks so much for verifying the issue and reporting it to the developers! Thanks also for the possible workarounds. I've been able to move past that page for now, and will figure out how to correct the Tax ID on our printed/signed form. Of course would be great it they can get a fix into the software by the time we go to file. Thank you!!
a month ago
The 1095 she gave me has all three of them included on it.
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a month ago
how to amend 2025 filed return by adding form 1099-S online to turbotax?
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a month ago
I need to file a Form 5695 for windows
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a month ago
what form is used for depreciation for
rental property?
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a month ago
If you donated one item, or a group of similar items, with a claimed value of more than $5000, you must have a appraisal from a qualified appraiser, the appraiser signs form 8283, and you must also g...
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If you donated one item, or a group of similar items, with a claimed value of more than $5000, you must have a appraisal from a qualified appraiser, the appraiser signs form 8283, and you must also get form 8283 signed by an responsible person from the charity confirming the donation. If you did not get an appraisal before a large donation, you can't claim a value of more than $4999.
a month ago
I have alot of expenses
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a month ago
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a month ago
Your Federal estimated tax payments will serve as a credit against your Federal tax liability and have to be entered on your tax return.
In TurboTax Online, you can enter estimated taxes you pa...
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Your Federal estimated tax payments will serve as a credit against your Federal tax liability and have to be entered on your tax return.
In TurboTax Online, you can enter estimated taxes you paid by following these steps:
Open your tax return
Click on Federal in the left-hand column, then Deductions & Credits
Navigate to the list of Deductions and Credits
Locate the section named Estimates and Other Taxes Paid and click on the arrow on the right
Click on Start next to Estimated Tax Payments
On the next page, click Start next to Federal estimated taxes for 2025 (form 1040ES)
a month ago
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Yes, you can still claim them since they are considered a full-time student for tax year 2025, assuming you meet all of the other requirements. The rule is that the student has to be enrolled at...
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Yes, you can still claim them since they are considered a full-time student for tax year 2025, assuming you meet all of the other requirements. The rule is that the student has to be enrolled at least one day of any 5 months, so since they were a student the first 5 months, they are still a dependent. IRS definition.
Yes, they have to file their own return and since you can still claim them, they must check “Someone can claim me as a dependent” on their return.
No, the 1098-T and the 1099-Q do not have to be entered - they are informational documents and not required to be entered unless they have an effect on your return. No one can claim the AOTC since that has been claimed for the student for 4 years. Since you, the parents, can claim the child, you may be able to benefit from the Lifetime Learning Credit (LLC). You can apply the 1099-Q to the tuition and that leaves $3k (or more), available for the LLC - and since the 1099-Q was used for qualified expenses, you do not have to report the 1099-Q at all. It only becomes reportable if there are taxable earnings.
And you only need to include the 1098-T if you end up claiming the LLC credit. Whether it is worth it for you to claim the credit depends on your MAGI and your tax liability. The details are in the link I posted above.
Who can I claim as a dependent?