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My son is 9 and I would like to have a TrumpAccount opened for him.
@Sophias_Dad , I agree that the  round-robin way of entering each is a bit messy and one  has to go back and forth till all the entries are shown .  I just tried  ( for another user ) yesterday with ... See more...
@Sophias_Dad , I agree that the  round-robin way of entering each is a bit messy and one  has to go back and forth till all the entries are shown .  I just tried  ( for another user ) yesterday with one RIC and One  country.  It was a bit  messy --- one needs to keep keeping the goal in sight.   Have not tried  your situation of RIC, RIC, Country 1, Country 2 and Country 3.  Will do so and  see what I find. Also , I hope the changes/ entries you made were on the Form 116 Comp wks and NOT on the form 1116 ( Copy 1 ).  Will be back --- is there more I can do for you ?
Yes.  Making contributions to, or withdrawing from, an HSA requires adding form 8889 to your tax return and that is not included in the free version. 
@SCAXP    There was a STRANGE pop-up you had to accept ....about allowing Intuit access to your device(s?).   Without that, nothing actually shows up   Read the following discussions on how to ... See more...
@SCAXP    There was a STRANGE pop-up you had to accept ....about allowing Intuit access to your device(s?).   Without that, nothing actually shows up   Read the following discussions on how to reset...   Solved: Re: Importing Brokerage data does not work   Solved: Re: vanguard brokerage update is available from Vanguard but not on turbo tax      
Yes enter the full amount as the RMD.    But what happened to the 12,199.69?  Did it get put into another regular broker acct?  You can't leave it in the same 401 account.   Has to be moved OUT of th... See more...
Yes enter the full amount as the RMD.    But what happened to the 12,199.69?  Did it get put into another regular broker acct?  You can't leave it in the same 401 account.   Has to be moved OUT of the 401.  So the advisor must have set you up with another personal account.  
By the end of the week (Thursday or Friday).
Totally agree with this user.  TT should fix the problem.
I may have solved it. TT will ask you about any IRA where the RMD wasn't met:  "Let's go over any required RMD." TT then  say let's check if you missed any required distribution.  Click "yes." The... See more...
I may have solved it. TT will ask you about any IRA where the RMD wasn't met:  "Let's go over any required RMD." TT then  say let's check if you missed any required distribution.  Click "yes." Then it tell us total RMD from other IRAs.  For me it was $0. TT then asks if you took corrective action.  I said "yes."  (Check cashed after 12/31/2025) was within 2 year Correction period.) TT then asks if you want to request a waiver to reduce penalty?  I said "yes." How much penalty to be waived?  I said $452, the amount we were shy. TT said we have a 10% penalty and to provide a detailed explanation. FINALLY, the space allotted for the explanation took the text. NOTE:  When I checked the actual statement, the text was there but very, very tiny.    I went down a line and increased the font size and retyped the explanation.  So far, text hasn't vanished. On line 54a of 5329-S, there is now reference to "See Stmt" "RC [Reasonable Cause]" and "$452." Curiously, when I went to Forms, there was an error symbol next to the explanation statement that says "(Not Done)" When I ran another error check, it showed an error on the explanation statement.  But apparently, I had retyped the explanation on the second line instead of the first.  When I entered "see below" on the first line, the error symbolwas removed.   I know this is convoluted but I hope it helps someone else.  Sure was a PIA.  Good luck.
We converted our short-term rental to a second home in 2024, so it's just a second home for all of 2025.  We did rent it for one one day for $120.   My understanding is that we don't have to report t... See more...
We converted our short-term rental to a second home in 2024, so it's just a second home for all of 2025.  We did rent it for one one day for $120.   My understanding is that we don't have to report this rental income, but we also can't take any expenses on the home on Schedule E (but can deduct real-estate taxes and mortgage interest in Schedule A).   But I'm confused about how to enter this in Turbotax.   If I say that we rented for 1 day and used for personal use 16 days (an estimate),  and enter the rental income and also the expenses, it actually deducts 1/17 of the expenses from the rental income and gives me a Schedule E loss.      This seems completely contrary to the rule I quoted in the first paragraph.   Should I instead say I didn't rent it at all, and let Schedule E be deleted ?   (I've kept my own records of depreciation during the period it was a short-term rental, so don't need Schedule E for that).      
Yes it is different. Only the "half" pay from time-and-a-half is deductible.  For example, if you earn $40 per hour, and earn double time on Sunday, your Sunday wage is $80 per hour. You may only ded... See more...
Yes it is different. Only the "half" pay from time-and-a-half is deductible.  For example, if you earn $40 per hour, and earn double time on Sunday, your Sunday wage is $80 per hour. You may only deduct the "normal" overtime premium of $20 per hour, although you earned additional overtime that day.   To compute this, add all of the "regular" time-and-a-half overtime premium to only half of the overtime premium that was double time. You could also figure the total hours you worked overtime and multiply that by half of your regular hourly rate.   Here is an article you may find helpful: No Tax on Overtime Explained: Qualified Overtime Deduction Rules for 2025
@peytonplace1    A number of NY folks are saying ONLY the first three digits/characters works. No more than that ...just the first three.
To find out if your Form 1099-B includes ESPP, RSU, RS, NQSO, ISO, you usually need a package of four things, not just your Form 1099-B:   Form 1099-B: Shows what you sold it for (Proceeds) ... See more...
To find out if your Form 1099-B includes ESPP, RSU, RS, NQSO, ISO, you usually need a package of four things, not just your Form 1099-B:   Form 1099-B: Shows what you sold it for (Proceeds) The "Supplemental Account Statement": This is a separate PDF (often 5–10 pages long) provided by your brokerage (Fidelity, E*Trade, Schwab, etc.). It lists the Adjusted Cost Basis, which includes the income already reported on your W-2 Your W-2 (Box 12 or 14): This confirms the income was already taxed as wages Form 3921 for ISO, provided by your employer   What to look for on your W-2: RSUs/RS: Look at Box 14. Many employers will label it "RSU" or "Vested Stock." This amount is already included in your Box 1 "Wages," so if you don't adjust your 1099-B basis, you pay tax on that amount twice. NQSO (Non-Qualified Options): Look at Box 12 for Code V. This tells you the profit at exercise that is already in your wages. ESPP: This is the trickiest because it doesn't always have a specific code. You often have to look at your final paystub of the year or a Form 3922 provided by your employer. ISO: Form 3921 provided by your employer   It is very important that you determine the basis on your own using the above statements, rather than only relying on your Form 1099-B, because it does not have the complete story and you may end up paying more taxes than you should otherwise.   When inputting your Form 1099-B, TurboTax will have specific questions pertaining to your employee stock. Be sure to carefully read each question as you go.
Do you need to adjust the income reported on Schedule K-1 (Utah)? If not, the loss from the K-1 is included in the federal income transferred to your Utah return and would be shown on Form TC-40.  ... See more...
Do you need to adjust the income reported on Schedule K-1 (Utah)? If not, the loss from the K-1 is included in the federal income transferred to your Utah return and would be shown on Form TC-40.   If you do need to enter information from the Utah K-1 that changes the amounts on the federal K-1, return to the Utah interview under "State Taxes." Look for pages for "Items Taxed by Utah" or "Items Not Taxes by Utah." These topics will provide boxes for the adjustment amounts you need to make.
Me too. About ten emails from Intuit about Gold Level Status, earning a badge etc. Wow. Wee. Wow wee. Fix the f***ing problem!
Can you clarify if you meant 469(d)?  This is the "At Risk" losses.  In general, the carryover represents a past year loss limitation.  If you are not at economic risk in an activity, your losses are... See more...
Can you clarify if you meant 469(d)?  This is the "At Risk" losses.  In general, the carryover represents a past year loss limitation.  If you are not at economic risk in an activity, your losses are limited.  Look for a Form 6198 on prior tax returns for details.  You will be able to carry forward the losses indefinitely- and you will be able to utilize when you completely sell or dissolve your interest in the property.   You are not considered at risk if you have nonrecourse loans used to acquire property, protection against loss by guarantees or stop-loss agreements, or amounts borrowed from people who have an interest in the activity or property.  Under IRS Section 465, you cannot deduct losses from an activity (such as farming or rental property) if they exceed the amount you have invested and for which you are personally liable.  
Hi MaryK4!  It is a NYS license and I was putting in the entire number when all it needed was the first 3 letters.  I figured it out but thank you for responding to my question.
It can't be calculated from your wage in box (1).  However, many employers provide it in box 14. If not available on the W-2 Check your final pay stub. Check with your employer. Contact ... See more...
It can't be calculated from your wage in box (1).  However, many employers provide it in box 14. If not available on the W-2 Check your final pay stub. Check with your employer. Contact HR or the payroll department.