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a month ago
1 Cheer
I noticed the depreciation is available in other modules, but you are correct it is not yet available in the rental section when working online with TurboTax. I believe these problems stem from last ...
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I noticed the depreciation is available in other modules, but you are correct it is not yet available in the rental section when working online with TurboTax. I believe these problems stem from last minute changes to the depreciation rules as a result of recent tax legislation. TurboTax can only work as fast as the IRS allows when there are last minute rule changes.
[Edited 2/13/26 at 6:24 AM PST]
@TurboMEH7294
a month ago
This did allow me to enter the RMD value again, but the calculation that turbo tax comes up with for RMD is incorrect. It would result in a tax penalty for me. I am doing the returns by hand to avoid...
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This did allow me to enter the RMD value again, but the calculation that turbo tax comes up with for RMD is incorrect. It would result in a tax penalty for me. I am doing the returns by hand to avoid being hit with a penalty. I believe TurboTax is incorrectly expecting an RMD on my wife's IRA. She was not under RMD amounts in 2025. She will have to do this starting in 2026. I entered the correct amount when it asked for my IRA. That value was not used.
a month ago
Topics:
a month ago
1 Cheer
The 1099-Q is only an informational document. The numbers on it are not required to be entered onto your (or your student's) tax return. The interview is complicated and it's easy to make mistakes. ...
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The 1099-Q is only an informational document. The numbers on it are not required to be entered onto your (or your student's) tax return. The interview is complicated and it's easy to make mistakes. Avoid it if you can.
You can just not report the 1099-Q, at all, if your student-beneficiary has sufficient educational expenses, including room & board (even if he lives at home) to cover the distribution. When the box 1 amount on form 1099-Q is fully covered by expenses, TurboTax will enter nothing about the 1099-Q on the actual tax forms. But, it will prepare a 1099-Q worksheet for your records (you don’t need it). You would still have to do the math to see if there were enough expenses left over for you to claim the tuition credit. You also cannot count expenses that were paid by tax free scholarships.
References:
On form 1099-Q, instructions to the recipient reads: "Nontaxable distributions from CESAs and QTPs are not required to be reported on your income tax return. You must determine the taxability of any distribution."
IRS Pub 970 states: “Generally, distributions are tax free if they aren't more than the beneficiary's AQEE for the year. Don't report tax-free distributions (including qualifying rollovers) on your tax return”.
"IRS Publication 970, Tax Benefits for Education states: If the entire 1099-Q went to qualified expenses, room and board, tuition, etc; then, you do not need to enter the form."
a month ago
If you want to make changes or add a document to a tax return that has already been filed and accepted by the taxing agency, you should follow these guidelines.
You must first wait until the in...
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If you want to make changes or add a document to a tax return that has already been filed and accepted by the taxing agency, you should follow these guidelines.
You must first wait until the initial return is completely processed.
You will have to use the same TurboTax account that you used for the original tax return.
Once you begin your amendment, you'll see your original return.
The refund calculator will start new at $0 and only reflect the changes in the refund or tax due
Only make changes to the areas of your return that need to be corrected.
You have three years from the date you filed your return or two years after you paid the tax due (whichever is later) to file an amendment
Select your product below and follow the instructions.
Amend TurboTax Online
Amend TurboTax CD/Download
a month ago
Yes. Include the token number in this thread. It is safe because no one else will have access to it. Also the file in the token number you send is a sanitized file. Your personal information is not i...
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Yes. Include the token number in this thread. It is safe because no one else will have access to it. Also the file in the token number you send is a sanitized file. Your personal information is not included in the file and all we receive are numbers. All pesonal information is scrubbed clean.
@datarmd
a month ago
When can I amend my return showing ready to mail?
Topics:
a month ago
Topics:
a month ago
Beyond ridiculous at this point that the rental property section is not available. I would like to return my TurboTax 2025 and go with a different provider. I need to know my tax bill before pur...
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Beyond ridiculous at this point that the rental property section is not available. I would like to return my TurboTax 2025 and go with a different provider. I need to know my tax bill before purchasing another property, I don't have the luxury of waiting on TurboTax to get their act together. There is not even a firm date it will be ready. How do I go about returning my desktop TurboTax 2025?
a month ago
I rent out a room in my house. I noticed that in the required tax documents that Turbotax Premier generated for the Georgia tax return it does not include the Schedule E with the federal 1040 tax...
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I rent out a room in my house. I noticed that in the required tax documents that Turbotax Premier generated for the Georgia tax return it does not include the Schedule E with the federal 1040 tax return, just the 1040 schedule 1. Is that correct?
a month ago
1 Cheer
Yes, I'm checking it first thing on Feb 13th, and I'm still getting the message that it will be ready by February.
a month ago
Topics:
a month ago
1 Cheer
The frustrating part is the ambiguous language being used...."will be ready by February" or even "after February 13th". What does that mean? April? September? Even more concerning is that the sof...
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The frustrating part is the ambiguous language being used...."will be ready by February" or even "after February 13th". What does that mean? April? September? Even more concerning is that the software will let users file their tax return, even though they attempted to add rental information [unsuccessfully]. Why would the software perform a review, tell the taxpayer that everything is complete and ready to file, after this?
a month ago
Thoroughly disgusted with TurboTax! To not have some of the depreciation schedules ready by 2/13 is totally unacceptable. No excuses! Some sort of refund needs to be issued to users. Probably the las...
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Thoroughly disgusted with TurboTax! To not have some of the depreciation schedules ready by 2/13 is totally unacceptable. No excuses! Some sort of refund needs to be issued to users. Probably the last time we will ever use TT again.
a month ago
Topics:
a month ago
2 Cheers
Thanks for the update on by the 13th or after, why not just say we don’t know and remove the 13th from the conversation? That said if I hired an IT to do this work I would look to key into an actual ...
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Thanks for the update on by the 13th or after, why not just say we don’t know and remove the 13th from the conversation? That said if I hired an IT to do this work I would look to key into an actual date so customers can decide if they stay with TurboTax or take their business elsewhere. Maybe that’s the real reason for the vague answers from support.
a month ago
@DaveF1006 Thank you! 1099-DIV is RIC income for 1114. 1099-INT is Country X income for 1114. Inherited House Sale was in Country X too. Two questions: 1. In Turbotax, what should go on...
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@DaveF1006 Thank you! 1099-DIV is RIC income for 1114. 1099-INT is Country X income for 1114. Inherited House Sale was in Country X too. Two questions: 1. In Turbotax, what should go on the "Description of Property" - 8949 Part II Line 1 (a) . Should I put "Foreign Income Taxes on income not creditable due to U.S. loss" for Schedule A Line 6 or more country specific language? 2. Do you have a link for an easily readable version of Section 901(m)? Country X withheld income taxes as a flat % of the inherited property sales price without any regard to cost basis (original or stepped up). That's the rule there.
a month ago
Thank you.
a month ago
During the Smart Check Capital Asset Worksheet 1. Is this a Digital Asset Y/N must be entered. I am unable to go forward or back, regardless of what I choose: * No entry * Is a Digital ...
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During the Smart Check Capital Asset Worksheet 1. Is this a Digital Asset Y/N must be entered. I am unable to go forward or back, regardless of what I choose: * No entry * Is a Digital Asset - Yes * Is a Digital Asset - NO