Thank you. My desktop version also finally updated it correctly today (3/5). All the expenses (ie room and board, computer, etc.) are now visible in the step by step portion of the 1098-T questionnai...
See more...
Thank you. My desktop version also finally updated it correctly today (3/5). All the expenses (ie room and board, computer, etc.) are now visible in the step by step portion of the 1098-T questionnaire and correctly accounts for the 1099-Q distribution in my case.
If you purchased a new car in 2025, the car loan interest deduction is separate from itemized deductions. It does not go on Schedule A.
CAR LOAN INTEREST
Go to Federal>Deductions and Credits>Car...
See more...
If you purchased a new car in 2025, the car loan interest deduction is separate from itemized deductions. It does not go on Schedule A.
CAR LOAN INTEREST
Go to Federal>Deductions and Credits>Cars and Other Things You Own>Car Loan Interest
The amount will go on Schedule 1a and end up on Form 1040 on line 13b
I found out this tax credit expired. 2024 was the last year. There was legislation put forward to extend it, but it was not passed. Talked to a state rep about it. They basically said the because of ...
See more...
I found out this tax credit expired. 2024 was the last year. There was legislation put forward to extend it, but it was not passed. Talked to a state rep about it. They basically said the because of the deficit, the state can't afford fully refundable credits like this one so they let them expire. You can chatgpt it and it will give you a pretty thorough and correct explanation, at least it did for me.
This has bee very frustrating. Currently I’m waiting to hear back from the IRS. Last resort may require to file by mail but there is still time, so hopefully this gets resolved before then.
The homestead credit reduces your tax liability but is not refundable. You may be seeing a refund because you had $750 withheld in taxes through the year which is refunded to you when there is no tax...
See more...
The homestead credit reduces your tax liability but is not refundable. You may be seeing a refund because you had $750 withheld in taxes through the year which is refunded to you when there is no tax liability. You can verify your tax liability and your taxes paid in.
Thanks! It's Iowa, not Virginia. But since it makes sense for other states (I saw a thread about Colorado too) I'm not going to worry about it. I know there is no tax implication, it appears to be...
See more...
Thanks! It's Iowa, not Virginia. But since it makes sense for other states (I saw a thread about Colorado too) I'm not going to worry about it. I know there is no tax implication, it appears to be pulling from a specific line of the Federal form, but doesn't match. I would just prefer not to have to deal with the hassle of the IRS, so wanted to make sure it wouldn't be a flag. I appreciate your response!
See this for contacting a tax expert - https://ttlc.intuit.com/turbotax-support/en-us/help-article/product-setup/connect-tax-expert-turbotax-live/L73wOZD5D_US_en_US
