All Posts

If you received a "Success" message but your data hasn't appeared in TurboTax, it is likely due to recent browser security updates regarding Local Network Access.   To fix this you need to allow TurboTax to securely retrieve your data through your browser settings: Locate the View Site Information icon (the "tune" or "lock" icon) on the far left of your address bar, just before the URL. Find Local Network Access in the dropdown menu. Toggle the switch to ON. Refresh the page and attempt your import again. If permissions aren't the issue, one of the following factors may be at play: Brokerage Delays: While most forms arrive by January 31, many brokerages delay Consolidated 1099s (like the 1099-B) until mid-February due to complex reporting requirements. Availability: Your brokerage must specifically "release" the import file to TurboTax. If it isn’t ready, we recommend checking back. Connection Blocks: Active VPNs or aggressive Anti-Virus software can occasionally block the import feature between your bank and TurboTax. Try disabling them temporarily or switching to a different browser. Helpful TurboTax Articles: What if I can't import my 1099? How can I fix my 1099 import issue? How do I import my 1099s? How do I enter a large number of stock transactions in TurboTax?

Thank you for clarifying that, but as MaryK4 pointed out, the Fair Market Value is what a Buyer is willing to pay and if something is sold soon after it is inherited, there is usually no gain, no profit.    If someone inherits a house that is worth 55,000 on the date of passing and then they hold on to it as the market gets stronger and end up selling it 5 years later for 70,000, they would need to claim 25,000 as a capital gain (profit).  But since you inherited the house and sold it the same year for 70,000, I would venture to assume the Fair Market Value was indeed 70,000, not 55,000.   A Real Estate Agent can make a Comparative Market Analysis (CMA) which is NOT an appraisal, since they are not Appraisers, but the CMA can be close. In your case, I think the Real Estate Agent was off and the Fair Market Value on the date of passing was 70,000 if the Buyer was a "normal" buyer, meaning this buyer had no reason to pay more than what the property was worth.   I also assume the ramp was installed BEFORE your Uncle passed, so that cost would not be added to the Fair Market Value. If installed after, it could add value, but then again it might not have.   I suggest you speak with the Real Estate Agent again and ask if the 70,000 it sold for was actually the Fair Market Value, and if yes, use that amount, split this between the Heirs and split the selling costs (such as the agent's commission). You should each show no gain and perhaps even a slight loss.   

The IRS uses your prior year AGI to combat fraud. Make sure you take into account the information below.   You can find your 2024 Adjusted Gross Income (AGI) by: Looking at line 11 on page 1 of your 2024 Form 1040 Requesting a transcript of your 2024 tax return from the IRS. You can request your transcript online at the following link: Get Transcript Please click on this TurboTax article for more information.    Check these items as well to ensure you have the correct number.  If you:  Filed late last year after mid-November or your return was processed after that time—try entering 0. Amended your return last year—make sure you’re using the AGI from your original return, not the amended one. (If you only have a 1040X form, it’s on line 1, column A). Rounded your AGI to the nearest dollar—be sure to round up when it’s 50 cents or more and down when it’s 49 cents or less. Filed with your spouse last year—you and your spouse have the same 2024 AGI. (Don’t split the AGI amount or enter  0  for one of you).   Time-saving Tip: If what you entered is correct and you continue to get a reject, you won't be able to e-file. There's probably a data mismatch at the government, or some other situation beyond your control that prevents your return from being e-filed. In this case, your only option would be to print and mail in your return.    This article will give you instruction on how to print and mail your return. 

It depends. It appears you may have paid at least 100% of your 2024 tax based on your information but I can't be sure. Double check your estimated tax total against your total tax on your 2024 tax return (total tax liability line). If not, and the income was higher in 2025, and you didn't compensate by increasing your estimated tax payments a penalty could occur.   You might try to request a waiver of the penalty by using the information below.   Alabama (AL) will charge a penalty for under payment in the following circumstances. In general, you may owe the penalty for 2025 if the total of your withholding and timely estimated tax payments did not equal at least the smaller of: 1. 90% of your 2025 tax, or 2. 100% of your 2024 tax. (higher income taxpayers would be more) Key Exceptions & Waiver Factors Reasonable Cause: The Department of Revenue may waive penalties if the failure to pay was not due to negligence or intentional disregard. Specific Circumstances: Valid reasons often include []natural disasters, fires, or serious illness/death of the taxpayer or immediate family. Administrative/Technical Issues: System failures that prevent timely []electronic payment can be considered. Unforeseen Events: Inability to access records or other unexpected, unavoidable situations How to Request a Penalty Waiver Log into the My Alabama Taxes (MAT) account. Select the specific tax account. Choose the "Ask a question" link in the "I want to" section. Provide a detailed explanation for the late payment You can contact us using the information below. How do I contact TurboTax? @drbailey25 

The “senior deduction” is added automatically by the software based on the date of birth and filing status you entered into MY INFO.  You do not need to take any extra steps to enter it. (And…the new senior deduction has nothing to do with whether you are getting Social Security)   The deduction is not on the same line as your standard deduction.  It is shown separately.on line 13b.     2025 STANDARD DEDUCTION AMOUNTS SINGLE $15,750  (65 or older/legally blind + $2000) MARRIED FILING SEPARATELY $15,750  (65 or older/legally blind +1600) MARRIED FILING JOINTLY $31,500  (65 or older/legally blind + $1600) HEAD OF HOUSEHOLD $23,625 (65 or older/legally blind + $2000)     For 2025 through 2028 there is an extra  deduction amount of up to $6000 per individual 65 or older filing Single, MFJ, or HOH which is phased out for taxpayers with modified adjusted gross income over $75,000 for single filers and $150,000 for joint filers.   (The deduction phases out completely at $175.000 Single or HOH, or $250,000 joint)   The $6,000 senior deduction will be calculated on 1040 Schedule 1-A page 2 Part V Enhanced Deduction for Seniors which goes to 1040 line 13b. It is separate and in addition to the Standard Deduction or your Itemized Deductions on 1040 line 12e.  Turbo Tax automatically includes it. IRS Schedule 1-A https://www.irs.gov/pub/irs-dft/f1040s1a--dft.pdf   Need to see it? https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/preview-turbotax-online-return-filing/L77WCkvnu_US_en_US?uid=m681fkhr   If you are not getting the senior deduction it is because Your date of birth in MY INFO shows that you were not 65 by the end of 2025 Your income is too high You are filing married filing separately  

The delay is that this error in your software that should be updated has not been and entering my tips from ridehsare (Uber) are all I need to do to wrap up my taxes.   I do not have a W-2 since I am not employed by Uber as I am self employed, nor do I have a 1099-K since Uber does not send out 1099's to drivers that do no earn more than $20,000.    As tips are considered customary and a regular part of the rideshare service (similar to a cab driver but they get W-2's) Uber does help keep track of our tips (I do myself too but I like to verify with their numbers) as well as all our earnings by sending each driver a tax summary form every year (note again it is not a 1099 or an official tax form, but a verifiable way of keeping track of income earned, tips, and basic expenses such as tolls and service fees collected by Uber).   Your software is not allowing me/us to deduct our tips since we have no 1099 due to the way you all seem to be reading those tax instructions. This despite numerous other tax experts and IRS publications saying otherwise. Ya'll need to revisit this issue and get it resolved cause you are leaving out tons of independent contractors that do not receive an official 1099 form that work in industries that commonly accept tips.

To make the 1099-MISC income earned income there are two ways. Option 1: enter it in the education section as a scholarship and claim it was used for room and board. Follow these steps: Open to Federal Deductions & Credits. Scroll to Education  Start/Revisit next to Expenses and Scholarships (Form 1098-T). Answer No to "Did you receive a 1098-T?" (unless you have one for tuition). When asked if you "qualified for an exception," answer Yes. Continue through the interview until you reach the screen: Did you receive a scholarship or grant in 2025? Enter the amount in the box for Other Scholarships/Grants/Fellowships. When asked if any was used for "Room and Board," answer Yes and enter the full amount.   Option 2: enter it as 1099-MISC income under Other Income. Follow these steps: Open to federal income Locate Other income Select 1099-MISC Enter your information  You have to mark: no intent to earn money mark that the income is only for this tax year. Otherwise the program will think it is recurring income and a business. mark no to like main job

In regards to an LLC taxed as a partnership, I have an owner that left Jan 2025 and with the Tax Year 2025 software I can only get through steps 1-5 on your 2025 (2024 Tax Year) response to this question.  There is no place to update the "After" percentages without going into the forms mode and doing overrides (or at least I can find).  Help!