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a month ago
If you have already filed your tax return, you have two options to file your information for the Trump Account election for qualifying children born after January 1, 2025 (and currently through 2028)...
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If you have already filed your tax return, you have two options to file your information for the Trump Account election for qualifying children born after January 1, 2025 (and currently through 2028).
First, you can visit online, and go to trumpaccounts.gov.
Or second, "if you must file your Form 4547 on paper, mail it to the address at IRS.gov/PaperReturns for your tax return for the year for which you are making the election. Use the address for those who are requesting a refund or are not enclosing a check or money order."
IRS: Instructions for Form 4547
Fillable IRS: Form 4547 (Trump Account Election)
a month ago
How did you pay the taxes? On the IRS payment website? Use a Form 1040-ES?
a month ago
I just updated Turbo Tax Windows version and the update was dated 2/12/2026. Looks like the update we are looking for is coming later today.
a month ago
In the My Info section of the program did you select Single or Married Filing Separately? Did you enter a qualifying person as a dependent? Did you indicate you paid for over one-half of the expens...
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In the My Info section of the program did you select Single or Married Filing Separately? Did you enter a qualifying person as a dependent? Did you indicate you paid for over one-half of the expenses to maintain your home?
Is the dependent your child or a blood relative?
a month ago
if you are using the desktop app, you can switch to forms mode and review the entire Illinois return.
You will be assessed a late-payment penalty for underpayment of estimated tax if you were ...
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if you are using the desktop app, you can switch to forms mode and review the entire Illinois return.
You will be assessed a late-payment penalty for underpayment of estimated tax if you were required to make estimated tax payments and failed to do so, or failed to pay the required amount by the payment due date. You do not owe a late-payment penalty for underpayment of estimated tax if ■ you qualify as a farmer for this year (check the box on Form IL-1040, Line 34a); ■ you or your spouse were 65 years of age or older, and permanently lived in a nursing home during this year (check the box on Form IL-1040, Line 34b); ■ you were not required to file Form IL-1040 for last year (check the box on Form IL-1040, Line 34d); ■ last year’s Form IL-1040 had a zero tax liability (Form IL-1040, Line 14 minus Lines 15, 16, 17, 25, 27, 28, 29, and 30); or ■ this year’s tax liability (Form IL-1040, Line 14 (4.95% of Illinois taxable income + recapture of any Illinois Investment credits -Form4255 minus: Lines 15 - income taxes paid to oither states 16 - tax credits from Schedule ICR, 17 - tax credits from Schedule 1299c, 25 - Illinois taxes withheld, 27 - Pass through withholding from Ill K-1, 28 - pass through entity tax credit from Illinois k-1, 29 - Illinois earned income credit - Schedule IE/EITC , and 30 - Child tax credit from Schedukle IE/EITC) is $1,000 or less
https://tax.illinois.gov/content/dam/soi/en/web/tax/forms/incometax/documents/currentyear/individual/il-2210-instr.pdf
you must complete Form 2210
However, you must complete this form if you ■ use the annualized income installment method in Step 6; or ■ choose to enter the actual amount of tax withheld in each quarter in Step 2, Line 10a. For more information, see Publication 103, Penalties and Interest for
what the instructions fail to mention is that if you owe more than $1000 after subtracting withholding taxes, you can use last year's tax if it is lower.
you also have the option of using the annualized installment income method on page 4 of the 2210
https://tax.illinois.gov/content/dam/soi/en/web/tax/forms/incometax/documents/currentyear/individual/il-2210.pdf Illinois Taxes. To receive a copy of this publication, visit our website at tax.illinois.gov.
a month ago
I got an "import unsuccessful" message. Before that, everything went smoothly. It's impossible for me to key in manually, too many items. When can this problem be fixed? Thanks
a month ago
I took $30,000 of my Traditional IRA assets (pre-tax) and converted it to Roth IRA assets (after-tax). I estimated tax payment of $3,600 to offset the tax implications and paid it. Where do I enter t...
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I took $30,000 of my Traditional IRA assets (pre-tax) and converted it to Roth IRA assets (after-tax). I estimated tax payment of $3,600 to offset the tax implications and paid it. Where do I enter this $3,600 payment to lower my taxes?
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a month ago
The calculated penalty from Form 2210 is automatically transferred to your Form 1040-SR, Line 38. This line is labeled "Estimated tax penalty" and is added to your total "Amount you owe".
@awa...
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The calculated penalty from Form 2210 is automatically transferred to your Form 1040-SR, Line 38. This line is labeled "Estimated tax penalty" and is added to your total "Amount you owe".
@awalker24
a month ago
Imprt not working for Wells Fargo Advisors and Merrill Edge 1099B's. Turbo tax says to enter them manually. I will give it a few weeks to clear up and then will find another tax servvice if no solu...
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Imprt not working for Wells Fargo Advisors and Merrill Edge 1099B's. Turbo tax says to enter them manually. I will give it a few weeks to clear up and then will find another tax servvice if no solution other than entering it manually.
a month ago
have not recdieved tax lprogram
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a month ago
I qualify how to change?
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a month ago
You would list personal property, not real estate.
a month ago
Turbo taxes 1099 "forms" are being updated according to AI, and google. Not sure who to trust as far as information.
a month ago
no trash can or remove button found
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a month ago
So we have to check that part of the scholarship was used to pay for room and board to be able to enter room and board? What do we do if the scholarship was applied to tuition and 529 funds were use...
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So we have to check that part of the scholarship was used to pay for room and board to be able to enter room and board? What do we do if the scholarship was applied to tuition and 529 funds were used to pay rent, utilities and groceries for a student in off-campus housing?
a month ago
It is actually missing on the worksheet. I compared it back to tax year 2024 worksheet where it did exist. My temporary workaround is going to be to try to use a 2024 worksheet as a template and wo...
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It is actually missing on the worksheet. I compared it back to tax year 2024 worksheet where it did exist. My temporary workaround is going to be to try to use a 2024 worksheet as a template and work it manually and see what I come up with. But TTAX needs to fix.
a month ago
You can't enter room and board expenses yet. This is a known glitch in TurboTax (TT). They are working on it (no announced fix date). The 2025 education and 529 sections appear totally redesigned, ...
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You can't enter room and board expenses yet. This is a known glitch in TurboTax (TT). They are working on it (no announced fix date). The 2025 education and 529 sections appear totally redesigned, from last year.
Any update on this?
Post from an Employee Tax Expert, Tuesday Feb 10, at another thread, on this same topic: "This is currently being investigated and we are informed that the issue should be fixed during the upcoming update this Friday, February 13. Please check back after February 13 to confirm whether or not you are still having issues with this."
At the screen "Did (student's name) have any of these common situations in 2025", check the box "had education expenses other than tuition".
That will get you a screen, later, "Time to enter (student's name) educational expenses". Enter those expenses at "Optional books and materials from the school".