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a month ago
Sorry that does not work. First you cannot alter what the W2 shows...flag for audit. Also, if you put a number in Box 7 (your tips) and deduct it from Box 1 (Salary, Tips, etc) your tax will increase
a month ago
I see where you got 57,156. You don’t add the premiums and withholding to the net benefits in box 5. Box 5 is not the net amount you got in the bank. Box 5 is the Total income you got from Soci...
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I see where you got 57,156. You don’t add the premiums and withholding to the net benefits in box 5. Box 5 is not the net amount you got in the bank. Box 5 is the Total income you got from Social Security before (not minus) the tax withholding and insurance premiums were deducted.
a month ago
@DaveF1006 Thanks for clarifying how to fill out 8949 correctly. I am taking itemized deductions as opposed to standard. If I take all of the foreign taxes as a deduction as opposed to a cr...
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@DaveF1006 Thanks for clarifying how to fill out 8949 correctly. I am taking itemized deductions as opposed to standard. If I take all of the foreign taxes as a deduction as opposed to a credit, they go on Line 6 of Schedule A. Is it possible to take foreign tax credit on 1116 for the 1099-DIV and 1099-INT and take foreign tax deduction on Line 6 of Schedule A for the $15K held at source for the house sale? I have read 1116 instructions and Pub 514 and normally you take either a deduction or a credit for all foreign taxes for that year. However, exceptions apply where you can mix and match in situations where part of the foreign taxes are disallowed as a credit due to certain reasons, in which case you can take those taxes as a deduction. Clearly the $15K is on a long term loss ($50K sale proceeds - $150K basis). Publication 514 mentions one such reason (Covered Asset Acquisition) where the credit may be disallowed and then it can be taken as a deduction. It appears to me this applies to the inherited home sale because for US there is a stepped up cost basis while not so for the foreign country. Please let me know if this will work. The problem is I cannot understand the referenced material: Section 901(m) and the referenced Treasury Decision. Filling out the Turbo Tax 1116 for the 1099-DIV and 1099-INT credit and Schedule A Worksheet for the $15K deduction are easy - I just need to confirm this is okay.
a month ago
1 Cheer
Just to close the loop on this issue. After Gabi assisted in opening a support ticket and I submitted my turbotax tax files using the software, a support ticket was opened and I got an email from Tur...
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Just to close the loop on this issue. After Gabi assisted in opening a support ticket and I submitted my turbotax tax files using the software, a support ticket was opened and I got an email from TurboTax support on Feb 12th stating that the issue had been fixed in the latest update to the TurboTax software. So if you are experiencing this issue, make sure you have the most up to date version of TurboTax.
a month ago
The amount on Form 1040 line 8 comes from Part I of Schedule 1. Look at Schedule 1. What line of Schedule 1 is the income on?
Most likely either you entered the W-2 forms incorrectly, or the form...
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The amount on Form 1040 line 8 comes from Part I of Schedule 1. Look at Schedule 1. What line of Schedule 1 is the income on?
Most likely either you entered the W-2 forms incorrectly, or the forms you have are not actually W-2 forms. Are they 1099-NEC or 1099-MISC?
a month ago
4 Cheers
Just a suggestion, Intuit: perhaps not label this so vague and you won't see a slew of irritated users. The main rub is the "by February" wording that has not changed since Feb 1 has come and g...
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Just a suggestion, Intuit: perhaps not label this so vague and you won't see a slew of irritated users. The main rub is the "by February" wording that has not changed since Feb 1 has come and gone by almost 2 weeks - without any updates proactively to its users. I agree with another user's comment that we hope the logic and completeness of the depreciation and amortization section will be better than the poor use of language in its place. And I'm a bit concerned that you're not flagging incompleteness for all of us who have repeatedly tried to edit the data for depreciation and amortization and keep getting this vague message - clearly a flag that we have entries for this purpose. I almost submitted my taxes before I remembered this was not yet done - but Intuit stated "looks good to submit!!!" I'll be really curious if we receive a proactive update via email when this section is ready...?
a month ago
The error goes away when I answer single filing prior year (not true) then Joint filing prior year the second time asked.
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a month ago
How do I record and get the FMV for items/clothes donated to Goodwill, Salvation Army, etc? I previously recoreded then imported from itsdeductible. Is it there a way to enter donations directly in...
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How do I record and get the FMV for items/clothes donated to Goodwill, Salvation Army, etc? I previously recoreded then imported from itsdeductible. Is it there a way to enter donations directly into the desktop software? I haven't purchased yet after finding out about itsdeductible.
a month ago
Further to previous reply: This year, for a NY Business return, I had to wait until the day after the one shown in the table for it too work, so don't take it as gospel. Doing your taxes promptly h...
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Further to previous reply: This year, for a NY Business return, I had to wait until the day after the one shown in the table for it too work, so don't take it as gospel. Doing your taxes promptly has downsides. Unlike your experience, a phone rep emailed me the NY Businees Tax (only) chart after he figured out what the problem was. I found the source page by trial & error today so that I could answer your question. Good luck.
a month ago
1 Cheer
Oh yeah, they probably didn't enter what the SSA calls the Net benefits on box 5. The difference between the 49k number and the 57k number is exactly the total of all the Medicare insurance, and...
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Oh yeah, they probably didn't enter what the SSA calls the Net benefits on box 5. The difference between the 49k number and the 57k number is exactly the total of all the Medicare insurance, and Fed withholding deductions
a month ago
Since ItsDeductible is no longer available, this response from TurboTax is incorrect. It seems that you now have to perform the following steps to try to get credit for donating items to a charity: ...
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Since ItsDeductible is no longer available, this response from TurboTax is incorrect. It seems that you now have to perform the following steps to try to get credit for donating items to a charity: Once you are in Deductions & Credits: 1. Select Add another charity to the Your charities and donations page 2. Enter the Charity name and select Items and Stock, then hit Continue 3. Select the Type of donation, enter the Date of donation and donation value, then hit Continue (You'll have to use another program to determine the fair market value that is acceptable to the IRS in determining donation value) 4. Input the item description and select Thrift Shop value, then hit Continue 5. If you donated more than 1 item, select Add another item 6. Repeat steps 3-5 for all other items donated until you are done and select Done instead of Add another item This is extremely tedius, requiring 8 entries/clicks per item donated. If I donated to Goodwill 4 times in the year with 10-15 items donated each time, it will take me hours to complete this since TurboTax does not have a replacement for ItsDeductible - I'll be using H&R Block next year unless they fix this first.
a month ago
@daveboom If you know the amount of the tips then enter them in box 7. After you complete entry of the W-2, the TurboTax program will automatically calculate the deduction and enter it on your Form ...
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@daveboom If you know the amount of the tips then enter them in box 7. After you complete entry of the W-2, the TurboTax program will automatically calculate the deduction and enter it on your Form 1040 Line 13b.
a month ago
My question isn't whether I qualify as HOH. My post was to suggest that turbotax is incorrectly checking the box on the Form 1040. I am unmarried (divorced) and filing as HOH, so it seems like this b...
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My question isn't whether I qualify as HOH. My post was to suggest that turbotax is incorrectly checking the box on the Form 1040. I am unmarried (divorced) and filing as HOH, so it seems like this box shouldn't be checked by Turbotax
a month ago
has this been updated in turbo tax yet i have not been able to find where to claim the tips my employer included in gross income but did not list separately as tips (box 7?)
a month ago
I was finally able to resolve my issue - wow! once I put the total amount of all my IRAS (excluding roth) from 2025, it worked and it showed the amount i owe to the IRS. I wanted to come back to than...
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I was finally able to resolve my issue - wow! once I put the total amount of all my IRAS (excluding roth) from 2025, it worked and it showed the amount i owe to the IRS. I wanted to come back to thank you for trying to help me.
a month ago
I have used TT for probably 10 years now. This issue with the rental property depreciation form is really a pain. Hope that the product cost does not rise the later you submit and file in the tax s...
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I have used TT for probably 10 years now. This issue with the rental property depreciation form is really a pain. Hope that the product cost does not rise the later you submit and file in the tax season. Making me rethink continuing with this platform.
a month ago
Hi Dawn. Thanks for the clear instructions. I figured it out yesterday that if the Estimates and Other Taxes Paid section is not showing I have to click [ Add Other Deductions and Credits ] to disp...
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Hi Dawn. Thanks for the clear instructions. I figured it out yesterday that if the Estimates and Other Taxes Paid section is not showing I have to click [ Add Other Deductions and Credits ] to display it. I have the full list of Deductions and Credits listed now and am wrapping up my taxes. Thanks again!
a month ago
The amount of Social Security income that you enter on your tax return is the amount in box 5 or your Form SSA-1099.
What is the exact amount in box 5 of your Form SSA-1099?
What is the exact a...
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The amount of Social Security income that you enter on your tax return is the amount in box 5 or your Form SSA-1099.
What is the exact amount in box 5 of your Form SSA-1099?
What is the exact amount in box 5 of your spouse's Form SSA-1099?
Are those the amounts that you added to get the total of $57,156?
The total on line 1a of the Social Security Benefits Worksheet is the sum of the Taxpayer and Spouse amounts on line A. The amounts on line A are the amounts that you entered. If those amounts do not match box 5 of your SSA-1099s, go back to where you entered your Social Security income and check your entries.
a month ago
Hello, after doing my taxes on Turbotax, I miss the higher 'Other Retirement Exclusions' (line 28 on form NJ-1040 page 2) by $222 dollars, which makes my taxes $1442 higher. Last year I withdrew a la...
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Hello, after doing my taxes on Turbotax, I miss the higher 'Other Retirement Exclusions' (line 28 on form NJ-1040 page 2) by $222 dollars, which makes my taxes $1442 higher. Last year I withdrew a large sum from my inherited IRA to catch up from years of not taking RMDs, and that along with interest and dividends put my total income at 125,222. Per the scale, up to 125K the deduction is 37.5% of the total, and at 125,001+ the deduction is 18.75% of the total. I went over 125K by just $222 dollars. I was hoping I could open an IRA for a small amount but NJ does not reduce income by an IRA contribution. I figure there isn't a way to lower it but thought I would ask. Last year you guys helped me a TON with the catch up on the RMDs without penalties, that I missed for a bunch of years.
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a month ago
Have you entered income from working in 2025? If not, you will not receive an income tax refund based on having dependent children.
The maximum amount of the child tax credit is now $2200 p...
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Have you entered income from working in 2025? If not, you will not receive an income tax refund based on having dependent children.
The maximum amount of the child tax credit is now $2200 per child; the refundable “additional child tax credit” amount is $1700. In order to get that credit, you have to have income from working.
Take the amount you earned from working. Subtract $2500. Multiply the rest by 15%. That is the additional child tax credit per child that you canget—- up to the maximum of $1700 per child. If the amount you earned from working was low, you will not get the full $1700 per child.
If your child is older than 16 at the end of 2025, you do not get the CTC. But you may still get the non-refundable $500 credit for other dependents instead.
https://ttlc.intuit.com/turbotax-support/en-us/help-article/taxation/child-tax-credit/L2lNhfGDl_US_en_US?uid=m68dfq2u
https://ttlc.intuit.com/turbotax-support/en-us/help-article/taxation/additional-child-tax-credit/L6xFeMFEf_US_en_US?uid=lqnuygah
https://www.irs.gov/help/ita/does-my-childdependent-qualify-for-the-child-tax-credit-or-the-credit-for-other-dependents
And for the Earned Income Credit—-
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-credits-deductions/qualifications-earned-income-credit-eic-eitc/L7w4BFP32_US_en_US?uid=m62rmz09
https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit/use-the-eitc-assistant
https://www.irs.gov/pub/irs-pdf/p596.pdf
Look at your 2025 Form 1040 to see the child-related credits you received
PREVIEW 1040
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/preview-turbotax-online-return-filing/L77WCkvnu_US_en_US?uid=m681fkhr
Child Tax Credit line 19
Credit for Other Dependents line 19
Earned Income Credit line 27
Additional Child Tax Credit line 28