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a month ago
No, you don't enter anything directly on the forms when using TurboTax. Are the losses from selling securities? If so, those get entered into the Investment sales section. Where do I enter inves...
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No, you don't enter anything directly on the forms when using TurboTax. Are the losses from selling securities? If so, those get entered into the Investment sales section. Where do I enter investment sales?
Or if you have rental losses, those get entered in the Rental Income and Expenses section. Where do I enter my rental activity?
And if you have K-1 forms, follow the path in this help article - Where do I enter a K-1?
a month ago
The credit is claimed as of the date the solar system is installed using the full contracted price, even if you did not pay all at once. You need to amend your 2024 return to claim this credit.
a month ago
Use the average price when donated, not when purchased.
a month ago
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a month ago
Community, I figured it out. Just proceed as if entering a 1099-B and use a custom Bank/Broker name like “Private Stock Sale”, then can proceed from there to enter the info from there.
a month ago
Hola: Me vino rechazado el refund estatal, de Illinois. Me pone sugerencias sobre mi ID y el código de Illinois, pero al corregir no me da la opción de ir a un formulario donde pueda cambiar...
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Hola: Me vino rechazado el refund estatal, de Illinois. Me pone sugerencias sobre mi ID y el código de Illinois, pero al corregir no me da la opción de ir a un formulario donde pueda cambiar datos... Me puede decir qué puedo hacer ahora? Gracias.
a month ago
I have imported the files from my MS account and it says the transfer was successful but the files are not on on turbo tax. There are no files listed in the import summary. My MS account is set up ...
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I have imported the files from my MS account and it says the transfer was successful but the files are not on on turbo tax. There are no files listed in the import summary. My MS account is set up to allow downloads.
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a month ago
1 Cheer
Go to Forms. Near bottom of list is 2yr Comp. This will show all the line items from 2024 and 2025 in columns for a line by line comparison.
a month ago
Why isn't form 8825 created on TurboTax Business?
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a month ago
It depends. Did you do a standard rollover or a Roth conversion? Are you sure you are not getting the bonus? It is not listed with the regular standard deduction. If eligible for the senior bo...
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It depends. Did you do a standard rollover or a Roth conversion? Are you sure you are not getting the bonus? It is not listed with the regular standard deduction. If eligible for the senior bonus deduction, you will find this on Schedule 1-A Part V and line 13b of your form 1040. TurboTax will automatically calculate it based on your date of birth and your income. For Tax Year 2025 through 2028, seniors may claim an additional deduction of $6,000 per taxpayer over 65. This is NOT a refundable credit. This is a deduction of your income. If your income is above $75,000 ($150,000 if Married filing jointly) the bonus deduction decreases by $.06 for every dollar over the relevant amount. This deduction is available whether you itemize or take the standard deduction. If your filing status is married filing separately you are not eligible for this deduction. This bonus deduction is ONLY for those over 65, it does not apply to those who are blind and under 65 If you did a standard rollover, no, this would not affect the senior bonus as this would not affect your MAGI. Be sure you are marking this in TurboTax as a Rollover when walking through the questions in TurboTax. If you did a Roth Conversion, depending on the amount, it would affect your MAGI and then could affect your senior bonus.
a month ago
That is because of the way you answer the questions after you enter the Form 1099-Misc in TurboTax. You need to indicate that you did not have a profit motive for the income, that it will only be rec...
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That is because of the way you answer the questions after you enter the Form 1099-Misc in TurboTax. You need to indicate that you did not have a profit motive for the income, that it will only be received in the current year and it is not associated with your job. If you do that, the income will not be reported a self-employment income.
a month ago
Brokerages frequently release 1099-B (brokerage data) before 1099-INT or consolidated forms, which may not be ready until late February. You can manually enter 1099-INT data (combine multiples i...
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Brokerages frequently release 1099-B (brokerage data) before 1099-INT or consolidated forms, which may not be ready until late February. You can manually enter 1099-INT data (combine multiples into one entry).
Be sure to clear your Cache and Cookies between attempts.
@Matt -
a month ago
My grandson's tuition in 2025 was $22,069. He paid $10,549 and received $11,520 in scholarships - all documented on a 1098-T. Turbo Tax says he doesn't qualify for the American Opportunity Credit b...
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My grandson's tuition in 2025 was $22,069. He paid $10,549 and received $11,520 in scholarships - all documented on a 1098-T. Turbo Tax says he doesn't qualify for the American Opportunity Credit because he has no net qualified education expenses (the scholarships exceed what he paid). Is this correct? It seems to me that his qualified education expense should be $10,549.
a month ago
Yes, I do agree. Pension Income should be reported as General Category Income because it isn't listed in any category of Foreign-Sourced income.. Publication 514 says that "General category income is...
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Yes, I do agree. Pension Income should be reported as General Category Income because it isn't listed in any category of Foreign-Sourced income.. Publication 514 says that "General category income is income that is not section 951A category income, foreign branch category income, or passive category income or not part of one of the other separate limit categories discussed later". The fact that it isn't listed anywhere else would categorize this as General Category Income. Thank you for pointing this out. @TexasTea
a month ago
1 Cheer
Same question and the attached help from Turbo Tax does not help answer the question. Do I need to research my tax returns for the last 25 years and add up every contribution or...?
a month ago
Okay...this time it worked! It didn't before and I'm not sure why but I went through the form again in detail. Thanks!
a month ago
I use turbotax business desktop version. Today when i started the program it did its normal update of files. It took an unusually long time and then when it was complete, I can no longer find my prio...
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I use turbotax business desktop version. Today when i started the program it did its normal update of files. It took an unusually long time and then when it was complete, I can no longer find my prior year files to roll over into this years program to start the returns.
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a month ago
1 Cheer
Thanks for sharing your communication with the OTC, @rolanddawson2500! It's interesting that the state tax rep would provide that information, especially since the $10,000 limit is not specifically m...
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Thanks for sharing your communication with the OTC, @rolanddawson2500! It's interesting that the state tax rep would provide that information, especially since the $10,000 limit is not specifically mentioned in the form instructions or in the state statute, so I'm not sure how that limit can technically still be in effect... What is mentioned are references to the state and local income tax deducted on the federal return, so that should be the prevailing mechanic to be applied to the state tax returns. I would definitely keep a copy of that email communication in your files if the state ever questions or adjusts your return for this addback 😊 Also, thanks to @MelindaS1 for providing an update. Looking forward to hearing more on this topic.
a month ago
You cannot change the tax year. The current online program is for 2025 only. Only a 2025 return can be prepared online and only a 2025 return can be e-filed.
Online preparation and e-filing...
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You cannot change the tax year. The current online program is for 2025 only. Only a 2025 return can be prepared online and only a 2025 return can be e-filed.
Online preparation and e-filing for 2022, 2023, and 2024 is permanently closed.
Note: The desktop software you need to prepare the prior year return must be installed/downloaded to a full PC or Mac. It cannot be used on a mobile device.
To file a return for a prior tax year
If you need to prepare a return for 2022, 2023, or 2024 you can purchase and download desktop software to do it, then print, sign, and mail the return(s)
https://turbotax.intuit.com/personal-taxes/past-years-products/
You may also want to explore purchasing the software from various retailers such as Amazon, Costco, Best Buy, Walmart, Sam’s, etc.
Remember to prepare your state return as well—if you live in a state that has a state income tax.
https://ttlc.intuit.com/turbotax-support/en-us/help-article/state-taxes/contact-state-department-revenue/L9qVToi02_US_en_US?uid=m6e06um0
When you mail a tax return, you need to attach any documents showing tax withheld, such as your W-2’s or any 1099’s. Use a mailing service that will track it, such as certified mail so you will know the IRS/state received the return.
Federal and state returns must be in separate envelopes and they are mailed to different addresses. Read the mailing instructions that print with your tax return carefully so you mail them to the right addresses.
a month ago
This new way of doing it online is the WORST and most aggravating thing Ive ever done regarding tax returns This may be the end of using TT. 20+ years... this online version is the worst
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