All Posts

There may be a Form 2555 included on your return, if there is delete the form   Click on Tax Tools on the left side of the online program screen Click on Tools Click on Delete a form   Note - There may be multiple pages of your tax return forms and schedules so click on the page number or right arrow (>) shown at the bottom of the federal tax return forms.

Thanks for the advice, I wasn't trying to be dishonest, I was thinking of experimenting to see what TT would do with the deletion, through the review process, still trying to find where it is reported. I couldn't see how to delete it from the form, however. I have since found a couple of 1099-MISC forms TT has found, that do not appear in the paperwork I received. I am working with a new institution; I obviously have more work to do before I can file!

Yes, and here is the flow on how to enter.   Go to Federal > Wages & Income > Interest and Dividends. Select 1099-DIV and either import your Vanguard data or enter it manually. Check the box that says "My form has info in more than just these boxes" (usually at the bottom of the entry screen). Enter the amount from Box 7 (Foreign Tax Paid) exactly as it appears on your statement. After entry, there is a followup screen that appears that is labeled "Tell Us About Your Foreign Dividends" Then it asks for a Foreign Dividend Amount Here you would check your supplemental disclosure forms that came from your brokerage. In the disclosure, it will list the actual foreign dividend amount that was taken OR list a percentage of total ordinary dividends reported in Box 1A of the 1099 DIV. Here you will record the amount. If the disclosure is listed as a percentage, you will need to multiply the percentage by the amount listed in Box 1A of the 1099 DIV to record on the form.  

The checkbox on the 1040 and 1040-SR for your home being in the United States is specifically for the Earned Income Tax Credit.   The box can only be checked if you qualify for the Earned Income Credit. There are significant age, income and‌ child requirements. If the box is not checked, it will not affect your tax return. This is located in a strange place.  The IRS may change it, but it probably won't occur  this year.   See IRS guidance on The EIC related changes to the 1040         

You enter that as an investment sale in TurboTax as follows:   You enter investment sales in the Wages and Income section of TurboTax, then Investment Income, then Stocks, cryptocurrency, Mutual Funds, Bonds, etc... Skip the section where it asks if you want to upload your tax documents if you want to enter the form manually. Choose Stock, Bonds, Mutual Funds as the type of investment you want to enter. You'll come to a screen where you can enter in your sales proceeds and cost basis.