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When is form 4562 for rentals going to be updated in the premier version?
Did you move from one state to the next?  If that is the case, you would not report Wisconsin as a nonresident.  You would report part-year resident for both Minnesota and Wisconsin.  If this is not ... See more...
Did you move from one state to the next?  If that is the case, you would not report Wisconsin as a nonresident.  You would report part-year resident for both Minnesota and Wisconsin.  If this is not your situation, please clarify.   In the Wisconsin state income tax return, at the screen Did you have more than one state of residence in 2025, I selected Yes.  I then answered the subsequent questions about Wisconsin residence.  Then the screen Wisconsin Salary Allocation reflects the allocation of wages on the W-2.   In the Minnesota state income tax return, at the screen Minnesota Individual Income Tax Return, select Change Residency Status.  At the screen Change Your Minnesota Residency, I selected Part-Year Resident Income Tax Return.  Then the screen Income Allocations reflects the allocation of wages on the W-2.
It doesn't sound like you should owe tax on this distribution based on the information you've given.  Are you seeing additional taxes reported on Schedule 2, line 8 for additional tax on IRA?  Or is ... See more...
It doesn't sound like you should owe tax on this distribution based on the information you've given.  Are you seeing additional taxes reported on Schedule 2, line 8 for additional tax on IRA?  Or is the $400 difference showing up somewhere else?  If you can find where it is showing up the 1040 form or Schedule 2, that may be helpful in determining what might be happening here.   If you are using the Online version, you can do a preview of your return as follows:   Once you are logged in and have your 2025 return open, go to the left side menu and scroll down to Tax Tools Click on Tools, and then click on Preview my return in the pop up that shows up. Click Preview my 1040 on the left side menu and you can scroll through to see where this additional tax is being entered on your return. Once you are done previewing, you can click on Back on the left side menu to return to your return preparation.   If using the download version of TurboTax, the tax forms can be found by clicking on Forms on the blue banner at the top right of the TurboTax window.
The one for 2024 you should have entered on that tax return. Just enter the contribution for 2025 on the 2025 tax return. 
No, the children are not eligible for the child tax credit.  They must have a social security number to be able to claim the credit, even an ITIN will not work.  Without the ITIN you can't even claim... See more...
No, the children are not eligible for the child tax credit.  They must have a social security number to be able to claim the credit, even an ITIN will not work.  Without the ITIN you can't even claim them as dependents on your tax return so you will have to file without them on the return for this year.  Get the ITINs applied for and they can at least be listed as dependents on your next years' return.
Please see this good answer from Expert HelenC12.
It depends: Since you are not a farmer -business expenses (like erosion control or planting trees) can be added to your basis in the land. If the conservation grant didn't substantially incre... See more...
It depends: Since you are not a farmer -business expenses (like erosion control or planting trees) can be added to your basis in the land. If the conservation grant didn't substantially increase the value of your land and meets specific IRS criteria under IRC section 126, you can exclude the income and therefore, not enter expenses. See 26 U.S. Code § 126 - Certain cost-sharing payments. If you qualify, you can exclude the income by entering it as a negative adjustment under other reportable income.
@user125562 ,  (a) Looking at US-Japan tax treaty of 2003, article 10 generally allows  US recipient of  dividends from a Japan entity to be taxed to be taxed by US  ( in addition to  Japan at its ... See more...
@user125562 ,  (a) Looking at US-Japan tax treaty of 2003, article 10 generally allows  US recipient of  dividends from a Japan entity to be taxed to be taxed by US  ( in addition to  Japan at its own rate  )  but limits it to 10%  ( for individuals  and with a few  restrictions as to volume of ownership etc. ). That is the maximum rate -- does not say anything about less than that. (b)  Each of the contracting states always have the option of taxing  a resident/ taxpayer as if the  treaty was not in existence. (c) As you say Japan has taxed this dividend income at 15% Thus I see no reason for you not to use the safe harbor  ( i.e. without using  the form 1116 and its limitations ). Equally , while there is a requirement to report each and every earning amount, there is no requirement to report/ claim any taxes paid on that income to another taxing authority.  Some may disagree with me  but I stand by that.   That is my opinion on all of the above. Is there more I can do for you ?
The wild thing is I seriously doubt the calculation on my Form 4562 is going to be any different from the last several years. I should be able to fill out 4562 myself and correct later if necessary.
I am still having this same issue in TT online. This is for an existing rental property. I think the software may be updated if you enter a new asset, but not for existing assets. Has anyone tried th... See more...
I am still having this same issue in TT online. This is for an existing rental property. I think the software may be updated if you enter a new asset, but not for existing assets. Has anyone tried this?
We have a new LLC and the CA SOS file number starts with a B.  The validation in TurboTax still thinks the number should be all numeric and is flagging my CA SOS file number that starts with a B.   ... See more...
We have a new LLC and the CA SOS file number starts with a B.  The validation in TurboTax still thinks the number should be all numeric and is flagging my CA SOS file number that starts with a B.   Also, the error check is flagging that the Form 1065 Designated Individual should be filled out.  When I fill it out, it complains that the Partnership Representative is using an SSN and the Designated Individual should be cleared out.     Both of these seem to be bugs.  TurboTax, please fix this.  Thank you.
Maybe I should claim her as my "daughter"... after all, she is my daughter-in-law.
Where in Turbo Tax do I enter my Federal Tax Exclusion for health insurance premiums for retired public safety officers?  Does Turbo Tax calculate this?  IRS pub 575 applies.
@FormerAccountantNowTech then everyone here would be filling by hand because IRS didn't finalize instructions for this form til last week
The 2025 Form 1040X used to amend your tax return won’t be available until the end of next week. You can check for Forms availability by reviewing the TurboTax article When will my individual tax for... See more...
The 2025 Form 1040X used to amend your tax return won’t be available until the end of next week. You can check for Forms availability by reviewing the TurboTax article When will my individual tax forms be available in TurboTax?   If you have to file an amendment, wait until your tax return is fully processed and you receive your refund or your balance due is deducted from your account. For more information and instructions, review the TurboTax articles How to Correct Federal Tax Returns, How to File an Amended Tax Return with the IRS and Video: How to Amend Your Tax Return.  
The Form 1040-X for amending a 2025 federal tax return is estimated to be available in TurboTax on 02/25/2026   An amended return, Form 1040-X, can only be printed and mailed to the IRS if the or... See more...
The Form 1040-X for amending a 2025 federal tax return is estimated to be available in TurboTax on 02/25/2026   An amended return, Form 1040-X, can only be printed and mailed to the IRS if the original tax return was not e-filed. The IRS will take up to 20 weeks or longer to process an amended tax return. Before starting to amend the tax return, wait for the tax refund to be received or the taxes due to be paid and processed by the IRS. See this TurboTax support FAQ for amending a current year tax return - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/amend-federal-tax-return-curr...
You cannot change or add anything on the return that you just e-filed, nor can you stop it.  It is too late, just like when you put an envelope in a US mailbox on the corner.  The IRS does not allow ... See more...
You cannot change or add anything on the return that you just e-filed, nor can you stop it.  It is too late, just like when you put an envelope in a US mailbox on the corner.  The IRS does not allow you to take it back.   If you left out a W-2, a 1099G, or a dependent, or a 1099 etc…DO NOT change your return while it is “pending.”  The changes will go nowhere.   Now you have to wait until the IRS either rejects or accepts your return.  If your return is rejected, you will be able to go into your account and make the necessary changes to your tax return and re-submit your return.    Sometimes—not always— the IRS corrects your mistakes, while they are processing your return.    If the IRS accepts your return, however, then you have to wait longer until it has been fully processed and you have received your refund.  THEN you can prepare an amended tax return and e-file or mail  it in. You have to be able to work from that return exactly the way it was when it was e-filed originally.  You will need to use a form called a 1040X.     Meanwhile, DO NOT go in and start changing anything on your return in the system, or you will make a mess for yourself.  Sit tight and wait until you see what the IRS does with the return you just e-filed   The Form 1040X is scheduled to be available on February 26.   The date is subject to change, so check on 2-26  to see if it is ready.   Before that, do not change anything at all on your return.  
Hal:  FYI, Turbo tax gives me the credit I claim she is my "niece", but not if I describe her as "other"
I'm not sure why that is happening, but you can enter the number directly on the form. Just use the "Forms" menu option to retrieve Form 1065 Pg5-6, scroll down to Schedule L, then go to line 9(a) an... See more...
I'm not sure why that is happening, but you can enter the number directly on the form. Just use the "Forms" menu option to retrieve Form 1065 Pg5-6, scroll down to Schedule L, then go to line 9(a) and enter the cost of your assets.
Hello,   If I mis-stated 1/16/2026, I meant 1/15/2026.  Bottom line, any 4rth quarter estimated payment in January 2026 is not counted as part of your SALT deduction and may overstate your NIIT tax... See more...
Hello,   If I mis-stated 1/16/2026, I meant 1/15/2026.  Bottom line, any 4rth quarter estimated payment in January 2026 is not counted as part of your SALT deduction and may overstate your NIIT tax for your 2025 tax return.  TurboTax defaults 1/15/2026 as the date for your 4rth quarter payment.  Unless you manually change the date to 2025 in TurboTax the amount will not be counted as part of your SALT deduction and may overstate your NIIT tax for your 2025 tax return.  This of course assumes you made your 4rth Qtr. estimated payment in 2025 and mistakenly left the default value of 1/15/2026.   Hope that clears up any confusion. Dave