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a month ago
After you have entered the Form 1099-R for your distribution, there will be a series of follow-up questions including one that asks what you did with the money from the distribution.
The scre...
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After you have entered the Form 1099-R for your distribution, there will be a series of follow-up questions including one that asks what you did with the money from the distribution.
The screen will be titled Tell us if you moved the money through a rollover or conversion. Select the first option that says I rolled over some or all of it to an IRA or other retirement account within the time limits.
Then the next screen will ask if you rolled over all of the money to another retirement account. On this screen, choose No, I rolled over less than xxx. This will then open a box where you can enter the amount that was rolled over. Any remaining amount will be assumed to be cashed out and taxable on your return.
Check lines 4a and 4b on Form 1040 for confirmation that only a portion of the distribution is taxable.
a month ago
Trying to import from Charles Schwab and still not working. Followed the suggestions of others that posted and, like them, still not working. Very disappointed in TurboTax this year. Earlier when ...
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Trying to import from Charles Schwab and still not working. Followed the suggestions of others that posted and, like them, still not working. Very disappointed in TurboTax this year. Earlier when I was trying to enter data, the system indicated "not ready" (come on...why release a product that's "not ready") . Never had this may issues with TurboTax in the 13 years I've been using it.
a month ago
Section 179 carryover results from claiming a Section 179 deduction that was greater than the income from the source activity. Where this amount appears and where it is entered in TurboTax depends on...
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Section 179 carryover results from claiming a Section 179 deduction that was greater than the income from the source activity. Where this amount appears and where it is entered in TurboTax depends on the source of the deduction.
For instance, carryovers from a business would be entered under Federal Taxes >> Wages & Income >> Business Income >> Schedule C >> Final Details >> Special Situations >> "I have unused Section 179 expenses carrying over from 20XX."
Section 179 carryovers may also appear on Schedule E, Schedule F, Form 4835, Form 2106. or Schedule K-1. In TurboTax, carryovers are reported under the section "Carryovers to 20XX Smart Worksheet" that typically appears near the end of the source form.
@Don3070
a month ago
I was not aware that as a retired person with no earned income, I was not allowed to contribute to a traditional IRA. I contributed total $5,000 in Feb. March, April and September last year. I kno...
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I was not aware that as a retired person with no earned income, I was not allowed to contribute to a traditional IRA. I contributed total $5,000 in Feb. March, April and September last year. I know what I should do now is to remove the excess contribution and the gain if any from my IRA account by 4/15 this year. But I still have more questions about this procedure. How to calculate gain and loss in my case? How to file my tax return this year without 1099-R which will come to me next year? If I choose to wait until I receive the 2026 Form 1099-R in 2027 and amend my 2025 return, should I report excess contribution and pay the penalty this year? Thank you very much.
a month ago
TO REMOVE TURBOTAX LIVE
https://ttlc.intuit.com/turbotax-support/en-us/help-article/intuit-subscriptions/remove-turbotax-live/L3WW5jwOM_US_en_US
a month ago
I am using Turbotax software, i dont see where to include this amount, in other miscellaneous expense or under Home Office. Please help
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a month ago
It's nice to see what the screen should look like. Mine does not show the the pencil or trash can icon. How do you change the screen resolution?
a month ago
How do you know it's charging you both the $25 state efile fee and the optional $40 Pay with Refund processing service charge? Especially if you haven't entered your credit card? If you have the $2...
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How do you know it's charging you both the $25 state efile fee and the optional $40 Pay with Refund processing service charge? Especially if you haven't entered your credit card? If you have the $25 fee deducted from your refund the extra $40 is added to the 25 so the total will be $65. I bought my program from Costco. They give a $10 rebate. I filed federal and California. So I only got charged $15 on my credit card. I just got my full federal refund, no processing fee deducted. How have you been filing state in the past? Did you efile or mail it? If you efiled you had to pay the state efile fee. Look back though your credit card statements. What state are you in? There is one state New York that doesn't charge a fee to efile. Did you move from New York?
a month ago
Turbo tax is subtracting the entire contribution but the MI tax instructions say the deduction is limited to $10,000 for a MFJ return. Is this a programing error?
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a month ago
1 Cheer
I already tried running as administrator and it did not help. The TurboTax software is definitely at fault and all suggested work arounds (uninstalling or disabling anti-virus defenses, postponing Wi...
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I already tried running as administrator and it did not help. The TurboTax software is definitely at fault and all suggested work arounds (uninstalling or disabling anti-virus defenses, postponing Windows updates, running as administrator, uninstalling and re-installing Turbo Tax) did not work. I need TurboTax support, as they are unable to fix the problem, to at least reset my activation counter back to 1 which is the true number.
a month ago
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a month ago
Turbo Tax is deduction my IRA distribution on the MI return but I was born in 1960 and am not eligible for this subtraction, Form 4884 should not be in my return. Is this a programing error?
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a month ago
Same problem. It imported my stock transactions (1099-B) and added them to my return just fine, but it refuses to add my 1099-INT and 1099-DIV to my return even though I can see they both imported c...
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Same problem. It imported my stock transactions (1099-B) and added them to my return just fine, but it refuses to add my 1099-INT and 1099-DIV to my return even though I can see they both imported correctly to TurboTax.
a month ago
Second attempt I think I posted this in the wrong area...... General web searches seem confusing on this issue around the following scenario: 1095-A shows no Advance Payments (Column C is blank...
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Second attempt I think I posted this in the wrong area...... General web searches seem confusing on this issue around the following scenario: 1095-A shows no Advance Payments (Column C is blank) Party is not entitled to any Tax Credits after running the numbers through Turbo Tax. Question - What form(s) if any are to be attached to the 1040? I would say none, TT does not list the requirement to send any either. I can't see why it would be necessary to send any of the above forms with the 1040. Here's a snippet from this site around a similar question. Look at the last sentence from the respondent to that OP......if there is no PTC involved then I don't see anywhere on the final printed 1040 that the 1095-A or the 8962 is mentioned.......so how is it "reported on your return" So....am I sending a 1095-A or 8962? I'm not due any credit and didn't take any APTC. Thanks This is the snippet from a similar question posed last year. ---------------------------------------------------------------------------------------------------------------------------------------------------- Since you didn't receive the premium tax credit, and if both column B &C are blank, you don’t have to fill out or include Form 8962 when you file your federal taxes. However, the IRS might reject your tax return if you received form1095-A but didn't report it on your return.
a month ago
how do I value non-cash charitable contributions?
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a month ago
@rossjen95 If you paid the estimated taxes you would want to indicate that you DO need to pay "Pay self-employment taxes on my wages AND housing allowance". This will allow TurboTax to calculate the...
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@rossjen95 If you paid the estimated taxes you would want to indicate that you DO need to pay "Pay self-employment taxes on my wages AND housing allowance". This will allow TurboTax to calculate the taxes and it will apply your estimated taxes on the tax return. You would click that they were paid if already paid via payroll deductions on a W2.
a month ago
I enter the 1099-Q disbursement which is supposed to be offset by the 1099-T tuition expense. However, TurboTax zeros out the 1098-T because my adjusted gross income exceeds $180,000. Therefore, the ...
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I enter the 1099-Q disbursement which is supposed to be offset by the 1099-T tuition expense. However, TurboTax zeros out the 1098-T because my adjusted gross income exceeds $180,000. Therefore, the 1099-Q is counted as income without the offsetting 1099-T.
a month ago
I found for both 2024 and 2025 imports from Merrill, a few things to avoid for frustration. First, wait for the PDF tax document to be available. Use Merrill rather than Merrill Private or any othe...
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I found for both 2024 and 2025 imports from Merrill, a few things to avoid for frustration. First, wait for the PDF tax document to be available. Use Merrill rather than Merrill Private or any other form of Merrill. And once Merrill listed in the drop down, it is then available for import. Doing this both years avoided a lot of angst.
a month ago
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