All Posts

To fix TurboTax transmission errors,    Sign out and Reboot your computer. Restart your modem/router, Try a wired internet connection, Clear your browser’s cache and cookies. Use a different browser Temporarily disable firewalls or VPNs. Try submitting during off-peak hours, If all of this fails, you can print and mail the returns.

I fully understand all that. I'm being as clear as I can. How long does it take from when I push the "file my taxes" button in TurboTax until they are ACCEPTED or RECEIVED? I'm not asking about anything that happens after it's accepted or received. I don't care how long it takes for processing or how long it takes to get the refund. How long does electronic submission and receipt/acceptance happen? This is the question. 

To clarify, Form 4562 is used to report depreciation and amortization.   For a rental property sale, most closing costs, such as legal fees, title insurance, and transfer taxes, will reduce your gain on Form 4797.    When you sell your rental property, follow the steps to report the sale found here: I sold my rental property. How do I report that?, with the selling expenses you asked about being reported in step 10:   "To report the sale of your rental property, follow the steps below: Go to the rentals section Answer Yes to the question Did you have any income from rentals or royalties? On the Your rentals and royalties summary page, select Edit (pencil icon) beside the property you sold. Select Edit (pencil icon) next to Rental property info. Under General info, select Edit under Situations (or on the page Tell us about your situation this year), then select Sold or disposed of property.  Continue through the screens until you return to the Here's your rental property info screen. Select Edit next to Sold rental property or Sale of property/depreciation. Go directly to your asset summary and select Edit beside the first rental asset you sold. Continue to the page Tell Us More About This Rental Asset and check the box for The item was sold... Enter the date of the sale in the pop-up box. Follow the prompts to enter the sale information, including the sales price and selling expenses you calculated. Continue back to the Rental Asset list. Repeat steps 9-11 for each rental asset. Continue back to the Property Summary page. Select Done/Continue and answer any follow-up questions."  

Make sure that your entries for Form 1095-A are correct, that you marked all the correct boxes in TurboTax. To go back through your entries:   Open or continue your return. Navigate to the 1095-A section: TurboTax Online/Mobile: Go to 1095-A. TurboTax Desktop: Search for 1095-A, then select the Jump to link.   You should also go back through your entries for your medical expenses.  Do not enter any amounts from Form 1095-A under this section for medical expenses.  To go back through your entries:   Navigate to the Schedule A section: TurboTax Online/Mobile: Go to the Schedule A screen under Deductions & Credits. TurboTax Desktop: Go to Federal Taxes. Go to Deductions & Credits.  Under Medical, select Start or Update next to Medical Expenses. If after you review your entries you are still getting the incorrect amount for itemized expenses, you can try the following: Go out of your program and go back in. Clear your cache and cookies. Try a different Web Browser. If you are using TurboTax Desktop make sure all updates have been run on your program. You can do this by clicking on "Online" in the black bar across the top of your TurboTax screen. And then select "Check for Updates".  

Thank you.    If I am understanding you correctly, only the third option would apply. If the 1099 misc (which was for "working" if an internship fits that definition. 9-5, five days per week for 10 weeks) is entered anywhere else (none of those uncommon situations apply) it then goes to Schedule 1 line z and then transfers over to the 1040 line 8 "additional income" and becomes unearned income. And therein lies the problem.    With regard to putting in under less common and miscellaneous income, I did try that. I guess my only discomfort there is that I have to delete the 1099 MISC altogether to do it. That has been sent to the IRS and I am unsure if my explanation carries over to them? (And then of course whether they would accept it as legit.)   I appreciate the feedback!        

TT has not corrected it in the Premier desktop version and I'm shocked and very disappointed they removed this input screen so we can avoid showing a tax liability that we do not have.  Poor job testing their software changes.

You should enter the 1099-R exactly as it was issued, Code 7 in Box 7. Don't change the distribution code. Even if the form doesn't show code Q, a qualified Roth IRA can still be tax-free. The key is answering the TurboTax questions correctly.   Also, Roth IRA's owned by the original account holder don't have  required minimum distributions (RMDs). So if this was your own Roth IRA, it's not technically an RMD, even if the institution labeled it that way. 

If you can't properly post your birthday, go back to My Info, and Review it there. In TurboTax On the center menu select  Personal Info [Continue] On the left side menu select My Info To the right of your name, click the arrow. Your information will come up. Check the birthdate. Click [Revisit] to edit entries The first screen will show your birthdate Make sure the format is Month Month / Day Day / 4 digit year MM/DD/YYYY    

Thanks again for your help. As discussed yesterday this was how we would enter info based on 1098: 1098 T Box 1= 12,895 Box 5= 16,912   Entering on ours: Box 1= $4k Box 2= 0   Entering on dependent students: Box 1= 8,895 Box 5= 16,912   I have another question...My son also took a 3 credit course from SNHU (required for his UG) and we paid $2k but received no scholarship/grants for this. We had briefly forgotten about this and just emailed the college to check on the form. Would inputting this 2nd 1098 affect the numbers we input on Box 1 from the 1st 1098 (as shown above)? I wasn't sure if it's just considered an additional QEE that will reduce the excess taxable amount between QEE and scholarships overall or if I need to adjust the $4k (from the 1st 1098) we are freeing up to then be considered out of pocket so we can claim the AOTC? I'm sure I'm making it all more complicated than it is, but figured worth asking. Thanks!!

Follow these steps:   Go to My info section of your return. Revisit your info questions and go through the filing status questions carefully. Make sure you have selected the Married box and also select the Plan on Filing separately box. Revisit the your household questions and answer those questions carefully. If TurboTax still isn't treating you as married filing separately, try selecting "none of these apply" when asked about your spouse.  Don't mention anything about someone else being able to claim your husband.  

Thank you for your response.  I didn't know TT is known for calculating penalties incorrectly, but double checked with another method and the TT amount is correct.  After going through all the way to the end.....e-filing with payment for State, I discovered I can choose when taxes are to be withdrawn from checking.  

Okay so I figured that out and I will add the son and daughter these questions are for are Cornell students so perhaps that a bias there too.    And it's fine if they are subject to the medicare taxes etc, (they are exempt for their university jobs) because if I use 1h (which of course the list in the instructions is quite limited and non refer to internships or anything close), then then still owe nothing because the standard deduction goes up significantly based on total income and zeroes out. Thanks for the engagement. I will figure this out sooner or later.