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a month ago
Yes, if you are asking if the overpayment from your 2024 Form 1040-SR that you elected to apply to your 2025 estimated tax is included as a payment for the 2025 tax year. The overpayment from your 20...
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Yes, if you are asking if the overpayment from your 2024 Form 1040-SR that you elected to apply to your 2025 estimated tax is included as a payment for the 2025 tax year. The overpayment from your 2024 tax return that you applied to 2025 will serve as a credit against your 2025 tax liability. It will be considered paid as of the first quarter's due date (April 15), regardless of when you file your return.
A taxpayer who overpays their income taxes in one year can apply all or part of their overpayment to the next year's tax. This is done by indicating on your return the amount to be applied to the next year's estimated tax. You can find this on your 2024 Form 1040-SR on line 36.
See Estimated Taxes; How to Determine what to pay and when.
You can enter this into TurboTax as follows:
Click on Search at the top right of your TurboTax screen
Type estimated tax payments in the search bar
Click on the link Jump to estimated tax payments
Your screen will say Estimates and Other Income taxes paid
In the section that says 2024 Refund Applied to 2025; select Start next to 2024 refund applied to federal taxes
Please return to Community if you have any additional information or questions and we would be happy to help.
a month ago
My K1 is an investment club, not real estate property
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a month ago
If TurboTax is skipping the SSA-1099R entry and going directly from 1099-R to Canadian Pension, try accessing Social Security benefits manually: 1. Go to Federal Taxes > Wages & Income. 2. Scroll...
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If TurboTax is skipping the SSA-1099R entry and going directly from 1099-R to Canadian Pension, try accessing Social Security benefits manually: 1. Go to Federal Taxes > Wages & Income. 2. Scroll down to the Retirement Plans and Social Security section. 3. Select Start or Update next to Social Security (SSA-1099, RRB-1099). 4. When asked, confirm you received Social Security benefits and enter the amounts from your SSA-1099R form. If the option still doesn't appear, try using the search box to type "Social Security benefits" to jump directly to that section. @gaillovesjim
a month ago
There seem to be no options in the 1099-MISC questionnaire to avoid this.
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a month ago
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a month ago
How do I retrieve my 2023 taxes?
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a month ago
That doesn't sound correct. To complete the backdoor Roth reporting correctly, you must complete two separate sections (income and deductions). You will need to enter the traditional IRA contributi...
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That doesn't sound correct. To complete the backdoor Roth reporting correctly, you must complete two separate sections (income and deductions). You will need to enter the traditional IRA contribution you made in the deductions and credits section, ensuring you marked it as non-deductible if your income would otherwise allow you to take a deduction. You'll then enter the 1099-R you received to report the rollover- make sure you make the selection that you rolled all of it to a Roth.
To check if the Roth conversion worked as it should, here is how you can check: go to Tax Tools on the left of your screen, choose Tools, then View Tax Summary. On the left of the screen, select Preview my 1040, and check that line 4a show the full distribution and line 4b is either $0 or a small amount if you had earnings in excess of your contribution.
To review the steps in full to create a backdoor Roth conversion, here is a reference: How do I enter a backdoor Roth IRA conversion?
a month ago
After selecting e-file of Federal and State Returns, the program asked about "...need a little information that we didn't need earlier." The info was in regard to last year's tax return. I input...
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After selecting e-file of Federal and State Returns, the program asked about "...need a little information that we didn't need earlier." The info was in regard to last year's tax return. I inputted the info it asked for but after selecting Continue, ''...taxable portion on income is calculated using the worksheet below. Clear this value" Deleted info , Continue button, goes back into review and "...need a little more info..." Last year my State Tax bombed because something got screwed up, I submitted a "hard copy" and mailed it to State. So no matter what I input to last year's entry, the Turbo Tax program doesn't like the answer and goes back and asks for the information again and no matter how I try to manipulate the input, it's not acceptable. HOW DO I BREAK THIS LOOP?
a month ago
@kaw Click on Tax Tools on the left side of the online program screen
Click on Tools
Click on Save your 2025 return to your computer
a month ago
Hey thanks for this. Really appreciate the detailed reply. Will install the full programs PLUS the data files for those last two years. George
a month ago
I rolled post-tax IRA money into a Roth IRA and Turbotax is considering it a taxable IRA distribution. I have no other IRA accounts.
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a month ago
Thank you for posting the forum link. I have tried that, but when I sign in and select the "Continue From TurboTax Online" option, it only tries to pull in the 2024 return, which I don't have. Is...
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Thank you for posting the forum link. I have tried that, but when I sign in and select the "Continue From TurboTax Online" option, it only tries to pull in the 2024 return, which I don't have. Is there any way to get 2025 to import? Based on what I've read, this should be possible, but I haven't gotten it to work, and the TurboTax "expert" who I talked with on the phone did not know or find it either. Thanks again!
a month ago
I double checked everything: prior year's AGI and PIN's for the first return. The second return were told to go to the IRS website to find the IP PIN. After jumping through hoops to log in, there wa...
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I double checked everything: prior year's AGI and PIN's for the first return. The second return were told to go to the IRS website to find the IP PIN. After jumping through hoops to log in, there wasn't an IP PIN number assigned to us. Yet, there's no way correct something that isn't wrong. I had to mail in the returns. And, I lost the use of 2 e-files of my 5 e-files on Turbo Tax Home and Business. I do taxes for my married children and us.
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a month ago
Yes, you can receive the credit if you paid rent, for at least half of 2025, on property (including a mobile home that you owned on rented land) in California, which was your principal residence and ...
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Yes, you can receive the credit if you paid rent, for at least half of 2025, on property (including a mobile home that you owned on rented land) in California, which was your principal residence and meet the other qualifications.
See Nonrefundable Renter’s Credit Qualification Record.
a month ago
To quickly obtain an Identity Protection PIN (IP PIN) from the IRS, utilize the online "Get an IP PIN" tool available on IRS.gov, which requires ID.me verification.
Alternative methods are avai...
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To quickly obtain an Identity Protection PIN (IP PIN) from the IRS, utilize the online "Get an IP PIN" tool available on IRS.gov, which requires ID.me verification.
Alternative methods are available if you cannot use the online tool:
File Form 15227 if your Adjusted Gross Income (AGI) is below $84,000 (or $168,000 if married filing jointly).
Visit a Taxpayer Assistance Center.
The IP PIN is a 6-digit number that is valid for a single calendar year and is required for electronically filing your tax return.
a month ago
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a month ago
If it is the federal return, you should be able to efile unless the correction you made must be filed by paper. My amendment was to correct a 1099 INT form and TT allowed me to efile my federal and s...
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If it is the federal return, you should be able to efile unless the correction you made must be filed by paper. My amendment was to correct a 1099 INT form and TT allowed me to efile my federal and state amended returns.
a month ago
Thank you! I appreciate your support of the Turbo Tax community.