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a month ago
Yes, I’m using Edge. I had no issues launching the browser and logging into my brokerage accounts. I got the message that everything transferred successfully. That is until I return to TurboTax wh...
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Yes, I’m using Edge. I had no issues launching the browser and logging into my brokerage accounts. I got the message that everything transferred successfully. That is until I return to TurboTax when it said the import was unsuccessful. I have done this import with TurboTax and brokerage many times over the years. Not sure what is wrong this year.
a month ago
I called my broker and explained the situation. I had manually changed the distribution code (box 7) to 2 which is "Early distribution, exception applies (under age 59½)." Code 1 is "Early distributi...
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I called my broker and explained the situation. I had manually changed the distribution code (box 7) to 2 which is "Early distribution, exception applies (under age 59½)." Code 1 is "Early distribution, no known exception (in most cases, under age 59½)." I did this to see if TurboTax would treat it differently. It didn't ask the question if it was used for first time home purchase, but it did lower my taxes owed when I made the change. I assume it was the code change for box 7. My broker said they would revise the 1099-R for this change and send me the new 1099-R document. Will this be another way to submit correctly or do I still need to complete for 5329?
a month ago
TurboTax Desktop Smart Check says the 1099-OID form I received from my financial institution needs a value in Box 1, 2, 8, or 11. My form only has a value in Box 5 (for five US Treasury Notes). Al...
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TurboTax Desktop Smart Check says the 1099-OID form I received from my financial institution needs a value in Box 1, 2, 8, or 11. My form only has a value in Box 5 (for five US Treasury Notes). All other boxes are blank. I entered the value for Box 5. How do I get past the Smart Check error? Note that last year's 1099-OID had the same single entry in Box 5 and there was no Smart Check error (and no problem filing my return).
a month ago
If the hairdresser is employed by a salon, they can use Form 4137 to report tips, but it still has to be linked to their W-2 or 1099 form reporting income. A self-employed hairdresser can report inc...
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If the hairdresser is employed by a salon, they can use Form 4137 to report tips, but it still has to be linked to their W-2 or 1099 form reporting income. A self-employed hairdresser can report income received on a 1099-K with a personal record of tips to report tips. Here's more detailed info from the IRS.
@Raphnessnt
a month ago
What browser are you using? Many of us experienced problems using Edge. Others mention a popup (which I did not see) and problems using Chrome. I changed my default browser to Firefox and was able t...
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What browser are you using? Many of us experienced problems using Edge. Others mention a popup (which I did not see) and problems using Chrome. I changed my default browser to Firefox and was able to get the downloads to work into Turbotax. Others copied the URL into a different browser and were able to the download to work.
a month ago
PA‑40 does not follow federal capital gain/loss rules. Under Pennsylvania tax law:
Capital gains are taxable, but
Capital losses are not deductible — not even up to a small limit, and not...
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PA‑40 does not follow federal capital gain/loss rules. Under Pennsylvania tax law:
Capital gains are taxable, but
Capital losses are not deductible — not even up to a small limit, and not even to offset other income.
So if you have a capital loss, PA ignores it. TurboTax isn’t adding it because PA law doesn’t allow it to be added.
a month ago
Thank you for taking the time to respond to my question. I appreciate it.
a month ago
It is ready - please update your software.
a month ago
I noticed that I have -34K in the carry loss forward bucket. Last year I paid $1900 in tax. Is this not applied automatically or do you have to do something. Turbo Tax Desktop. Thanks.
a month ago
Make sure you have an amount in column C for rows 8 - 12. If there is nothing in column C, enter 0 (zero) for column C on rows 8-12.
a month ago
Why do you keep misinforming and leading your customers on?
a month ago
@Carlathorpe80 If you are using Live Assisted you can contact your "expert"
https://ttlc.intuit.com/turbotax-support/en-us/help-article/product-setup/connect-tax-expert-turbotax-live/L73wOZD5D_...
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@Carlathorpe80 If you are using Live Assisted you can contact your "expert"
https://ttlc.intuit.com/turbotax-support/en-us/help-article/product-setup/connect-tax-expert-turbotax-live/L73wOZD5D_US_en_US?uid=m8zw1pbb
https://ttlc.intuit.com/community/tax-topics/help/learn-about-turbotax-live-s-chat-feature/01/981746#M3984
a month ago
1 Cheer
No. You do not send the IRS a copy of the form, but you do need to report this on your return.
a month ago
I am getting the successful message but it is overriding the information from the first account I imported. I have tried this numerous times and also tried a new import from scratch but the same thin...
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I am getting the successful message but it is overriding the information from the first account I imported. I have tried this numerous times and also tried a new import from scratch but the same thing keeps happening.
a month ago
How do I fix this
a month ago
What browser are you currently using? I had issues using Edge, but when I changed my default browser back to Firefox, TurboTax launched the browser window and able to log into the financial institut...
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What browser are you currently using? I had issues using Edge, but when I changed my default browser back to Firefox, TurboTax launched the browser window and able to log into the financial institution and received messages the download worked and on return to Turbotax, see the downloaded data and process it as needed for my return. Others suggested copying the URL from your current browser into a different browser which seemed to work for them.
a month ago
1 Cheer
Form 8453 is a form that you need to print out and mail to the IRS along with one or more other documents that could not be e-filed. The reason that you need this form, and what other forms you need...
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Form 8453 is a form that you need to print out and mail to the IRS along with one or more other documents that could not be e-filed. The reason that you need this form, and what other forms you need to mail to the IRS, will be included in your instructions. Two common examples are form 8283 for non-cash donations over $5000 that require an appraisal, and form 8332 dependent release form when you are claiming a dependent who does not live with you. Other examples are printed on form 8453.
I can't seen your return so I don't know what you need to mail but it will be on the instructions page if you print a copy of your return for your records.
If you are required to mail any paper forms to the California FTB after e-filing, that will be on your California instructions.
a month ago
When I put 100% in the box next to the Total Royalties received the $'s flowed to schedule 1 and 1040 line 8. However, next to the list of forms schedule E still has a red ! So it seems like the sc...
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When I put 100% in the box next to the Total Royalties received the $'s flowed to schedule 1 and 1040 line 8. However, next to the list of forms schedule E still has a red ! So it seems like the schedule E might be missing some piece of information. Thanks for your information and have a great weekend.
a month ago
No, the IRS does not currently allow tips not associated with income not on a W-2 or 1099 form to be claimed. However, if you were paid by credit card and receive a 1099-K from the payment processor...
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No, the IRS does not currently allow tips not associated with income not on a W-2 or 1099 form to be claimed. However, if you were paid by credit card and receive a 1099-K from the payment processor, and keep a daily log, tips are deductible. The 1099-K income would be entered in Schedule C for self-employment, and an amount can be designated for tips. Since the 1099-K doesn't break out tips, a daily log is essential. Here's an example from the IRS.
When you enter the 1099-K info, the next screen asks if any of the amount was for tips. These tips will transfer to Schedule 1-A, Line 5.
@Raphnessnt
a month ago
1 Cheer
@mahamaher ok whatever - this topic has been done to death here and many other threads - good luck with your lawsuit and your taxes.