All Posts

It depends. Deferred compensation is an agreement where employees can receive a portion of their earned wages at a later date. If you’re an employee of a business, you may be eligible for a deferred compensation plan.   Depending on exactly what your 'other deferred compensation plan' actual is will depend on where and if it is reported. What is deferred compensation and how is it taxed? Please update with additional details and we will be able to be more specific with your answer.

There can be several different penalties.  Where are you seeing it?     If you get a penalty on 1040 line 38, you might be able to eliminate it or at least reduce it. You can go to Federal Taxes tab or Personal tab, under Other Tax Situations and select Start by the Underpayment Penalties. You will answer a series of questions that may reduce or eliminate the penalty. Or you can elect to have the IRS figure the penalty for you. It's form 2210. How to add form 2210 for Underpayment Penalty https://ttlc.intuit.com/community/tax-payments/help/how-do-i-add-form-2210/00/25703   It's under Federal tab or Personal (for Home & Business Desktop) Other Tax Situations Additional Tax Payments Underpayment Penalties - Click the Start or update button

No, the Form 8949 Part 2 is not outdated.  Form 8949 Part 2 lists individual long term transactions.  If you import your 1099-B, Turbotax may use the composite amounts for each category and attached the 1099-B as an attachment for reporting to the IRS.  

@Mark-D   Can't you import it from the financial company?  What kind of 1099?  It should be just as easy or easier to manually enter it.     Enter a 1099R under Federal Taxes Wages & Income Then scroll way down to Retirement Plans and Social Security Then IRA, 401(k), Pension Plan Withdrawals (1099-R) – Click Start If you are adding another 1099R there might be a Add button at the bottom of the list.

If you have not paid for the online edition you are using, have not filed your tax return or registered the Free edition, then you can clear your return and start over with a lower priced edition. Click on Switch Products on the lower left side of the program screen while working on the 2025 online tax return. Click on Clear & Start Over

I am at the spot where Turbo Tax asks: Did you spend more than $xxxx on medical expenses in 2025?  My answer is "yes", and the next screen is: Tell us about any prescription medication expenses - and the "Prescription expenses" box has $0 and I can't enter a dollar amount.   The same thing occurs on the next screen "Tell us about anything spent on medical professionals". When I get to the next screen "Tell us about anything spent on medical facility fees", I can actually enter values. See below screenshot

@dltaggart   Yes, Turbo Tax automatically includes it if you qualify.  You don't have to fill out any forms.  It goes by your birthdate.  It will be on 1040 line 13b.  You can see the 1040 preview without paying.   Before filing you can preview the 1040 or print the whole return https://ttlc.intuit.com/community/accessing/help/how-do-i-preview-my-turbotax-online-return-before-filing/00/26160   What do you have on line 13b?