All Posts

I have a similar question.  I transferred a number of shares to a donor advised fund.  These were purchased fractionally on many different dates.  All are more than one year old.   I am also being asked the average trading price even though I indicated multiple shares over time.   Is this really asking for average cost basis - e.g. total cost basis / number of shares donated = average share price?  Or do I have to go crazy trying to either do each donation separately or something?

Yes. If Mounjaro is prescribed by a licensed medical provider for diabetes management, it qualifies as a deductible medical expense.   Prescription medications are eligible for medical expense under IRS rules, regardless of the specific condition being treated.    You can include the amount you paid out of pocket as part of your medical expenses if you itemize deductions. Medical expenses are deductible only to the extent they exceed 7.5% of your adjusted gross income (AGI). 

If you Sign In to your Intuit Account and go to Downloads, you may still be able to download the 2021 TurboTax program to your new computer.  You would need the License Number though.     If you Contact TurboTax Support you may be able to get a new download.   @jmlaverone 

The TurboTax $150 Expert Full Service offer allows users to have a tax expert prepare and file their federal and state tax returns from start to finish for $150, which includes a final review. This promotion is generally for new Full Service customers filing by February 28, 2026, and covers both simple and complex tax situations.   Employees with a W-2 and the self-employed are covered.

For purposes of age determination, the IRS includes January 1 as part of the previous year.  So if you were born on January 1, 1962, the IRS considers you to be 64 years old for 2025, which means you would only be eligible for the $7500 catch-up contribution for 2025 and not the "super catch-up" contribution of $11,250.   For determination of your age, the IRS defers to your Social Security records.  Here is a link to the Social Security website that talks of age determination:  Social Security Age Determination   On the plus side, that means that you will be considered to be 65 when you file your 2026 taxes which means you will get the increased standard deduction, plus the up to $6000 senior deduction (for years 2025 to 2029).

You are getting self-employment income treatment on your Form 1099-MISC entry because of the way you answer the questions in TurboTax you see after you enter the form. You need to indicate that the income was not associated with your job, you only earned it in 2025 and you did not have a profit motive for it. Those questions are just used to determine the treatment of the income, they won't appear on your tax return.

You can change your status to Head of Household using the steps listed below. As xmasbaby0 indicates above, you must meet the requirements for filing as Head of Household in order for TurboTax to select it for you.   If you are using a TurboTax Desktop Program, you can: Click on "Search" at the top of your TurboTax screen Type "filing status" in the search box Click on the link "Jump to filing status" Your screen will say "We've chosen a filing status for you" Click on the box "Change my filing status" Click on "Head of Household" Select "Continue" The next screens will determine if you are eligible to file as Head of Household Make sure to answer them correctly   If you are using TurboTax Online, you can: Click on "Search" at the top of your TurboTax screen Type "filing status" in the search box Click on the link "Jump to filing status" Click on the down facing carat next to your name Click on "Revisit" Make sure "Single" is selected (You must be single to file Head of Household or married filing separately. See full requirements below.) Make sure you have answered "Yes" to "Do you have any dependents?" Make sure you answered "Yes" to the question "Did you pay more than half the cost to keep up your home in 2025?" Continue through your screens. TurboTax will indicate it has chosen a filing status of "Head of Household" for you   To qualify for Head of Household (HOH) status in TurboTax, you must be: Single (or married filing separately and your spouse did not live in your home during the last six months of the tax year).  You must have paid over 50% of the costs of running your household You must have at least one qualifying dependent living with you for over half the year.    Click here for Guide to Filing Taxes as Head of Household Click here for What's a "qualifying person" for Head of Household? Please return to Community if you have any additional information or questions and we would be happy to help.  

If you already e-filed you are stuck with "5 days early" if the return is accepted.  If it rejects you can try to remove that option in the FILE section before you re-file.       "5 days early" means you are supposed to receive your federal refund from one to five days sooner than the refund date shown on the IRS refund site.   If it does not meet that "at least one day sooner" date, they are supposed to refund the $35 fee.   You have to pay attention to the date on the IRS refund site. You need your filing status, your Social Security number and the exact amount  (line 35a of your 2025 Form 1040) of your federal refund to track your Federal refund:    https://www.irs.gov/refunds

Great thank you, I thought so but I read when I just put that question in google that they will use it to take care of the debt owed and keep the rest.  And others said they won't keep none of it since it's more than you owe.   I was getting conflicting information.  I already planned on getting the amount after the debt has been taken care of but wanted to make sure I wasn't expecting it for it never to come.   thank you