All Posts

About 4 weeks ago, I posted about errors in the TurboTax NJ worksheet on IRA withdrawals where there was a math calculation error and that the wrong number was used for calculating the taxable portion of an IRA distribution.  This error started in tax year 2023 NJ tax returns.   TurboTax must have seen my post because the software math error and IRA value for a taxable distribution was fixed a few weeks ago.  But the Roth taxable distribution calculation is still wrong.   In NJ, an IRA distribution that is partially converted to a Roth doesn't matter when it comes to the taxable amount calculation - it all is treated as an IRA distribution even if all of it is converted to a Roth.  Either way, you should get the same tax excluded amount.   I used the actual NJ Worksheet C for calculating the taxable amount. That's when I discovered the TurboTax calculation errors starting in tax year 2023 and it wasn't fixed until 2025 for IRA distributions.   For any distribution partially treated as a Roth, TurboTax is counting it all as a Roth.  That would be fine IF the tax exclusion calculation where the IRA distribution all counted as a Roth was accurate but it is not.  Since TurboTax doesn't provide the calculation details, I can't see where they made the error.  All I know is that when using the actual NJ Worksheet C, the taxable amount is not the same as TurboTax taxable amount when a Roth conversion is involved.  So, I just manually edited the TurboTax worksheet Column D IRA value to get the TurboTax taxable amount to match the actual number calculated using the NJ worksheet C value.   Hopefully someone at TurboTax will see this and fix the problem.  

Yes, I have read the link and followed the instructions in this section  I received a W-2 and Box 12 has code II When I delete the W2 form and continue, I still can't e-file Should I use the Tax Tool to clear & start over at this point?  

I called on the 4th when the amend feature would become available.  I was told it would now be the 6th.  It is still not not available.  But the IRS website says it is.  So you are clearly not waiting on the IRS https://www.irs.gov/forms-pubs/about-form-1040x  This is where I got my information from.  What is the hold up now?  I have read that it can take months for the IRS to process an amended return and want to get this done as quickly as possible as I have already gotten my refund from the IRS.  I was also told my state had nothing to do with amending a return so we are not waiting on them.    

This problem persists:  namely, on the screen entitled “Any foreign source qualified dividends or long term capital gains?", TurboTax Deluxe (desktop, macOS) will not accept a value for “foreign qualified dividends and l.t. capital gains” (FQD) that does not equal “total foreign income for this category” (TFI).  However, based on the supplemental tax reporting information provided by the mutual fund company, the two values are indeed different:  FQD = Form 1099-DIV Box 1a x 80%, and TFI = Box 1a x 95%.   Repeating the data entry process does not yield a different outcome: Delete the Form 1099-DIV. Restart TurboTax. Enter the Form 1099-DIV. Complete the Foreign Tax Credit interview (Federal Taxes | Deductions and Credits | Estimates and Other Taxes Paid | Foreign Taxes).   Why does TurboTax require that FQD = TFI?  Is there a means to circumvent this restriction?  (Thank you for your assistance.)   P.S.:  @DaveF1006, I noticed on other threads related to the Foreign Tax Credit you have been able to provide assistance.  Can you please do so here?

I believe this reply from DianeW777 answers my question. The amount of my 2024 state and local estimated tax deduction on my 2025 federal return has to be reduced by the amount of my 2024 state and local refund received in 2025, because the estimated payment was larger than the refund. The refund itself is not taxable on my 2025 federal return because I did not itemize on my 2024 federal return, and TT is not reporting it as income. One other issue that has resolved itself is the missing 2024 local estimated tax payment. I created a new 2025 return and reimported my 2024 tax file data. The state and local estimated payments are now combined on the State and Local Income Tax Refund Worksheet, Part I, Line 1.

you are to buy pro series if you are doing more then 5 returns. We have license codes because people took advantage of Turbo Tax desktops, yes they are a business for profit, and possibly doing away with the download version due to this, then we will only have the online version

Best Buy could not finish installation because this had to be done from my home and not at the store.  Could not find Tubo Tax 2025 shortcut on my home computer,  Can I talk to someone on the phone to complete the installation.  Can you give me   phone number to call to complete the installation

TurboTax is correct to treat the RRB-1099-R as an annuity, even though it might seem like a regular retirement payment. The reason for this—and the reason it’s triggering those "Simplified Method" questions again—is based on how the Railroad Retirement Board (RRB) splits your benefits:   1. The "Green Form" vs. The "Blue Form" Form RRB-1099 (Blue): This is for your Social Security Equivalent Benefits (SSEB). These are treated like Social Security and are entered in the Social Security section of TurboTax.   Form RRB-1099-R (Green): This form covers your Tier 2 benefits, supplemental annuities, and vested dual benefits. By law, the IRS treats these as private pensions/annuities. This is why TurboTax is using "annuity" terminology.     2. The "Simplified Method" Trap (Again) Just like with your wife's TRS pension, TurboTax sees a "pension/annuity" and immediately wants to know if you have a "cost" (after-tax contributions) to recover. Box 3 on your RRB-1099-R: This is the key. It shows your "Employee Contributions." This is the money you paid into the system that has already been taxed. You are allowed to get that Box 3 money back tax-free, spread out over your expected lifetime. This calculation is called the Simplified Method.   3. How to handle it in TurboTax If you want to stop the "annuity" questions and just get the tax right:   Check Box 2a: If your RRB-1099-R already has a "Taxable Amount" listed in Box 2a, you can try to bypass the worksheets by telling the software that the taxable amount on the form is correct. If Box 2a is blank: You must go through the "annuity" questions. You will need:   The amount from Box 3 (your cost).  Your Annuity Start Date (the day you started receiving benefits). Your age on that start date. TurboTax will use the "Simplified Method" to subtract a small portion of your Box 3 "cost" from your income this year (and every year until it's used up), which actually lowers your tax bill.

  Phone support is not provided with the Free Edition.  If you are using a paid version of the software or if you purchased PLUS you can get phone support when customer support is there.  Otherwise, post your question here and someone will try to help.   To call TurboTax customer support https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/contact-turbotax/L2y9ZKpQB_US_en_US?uid=m5s9l2vh @ccnjpw

For purposes of determining when someone is considered 70-1/2, the IRS goes by months and not the number of days.  Someone born on July 1, 1955, would be considered to be 70-1/2 on January 1, 2026.  Since you need to be at least 70-1/2 on the date of the Qualified Charitable Distribution, the earliest date of eligibility to make that contribution in this case would be January 1, 2026.   More on Qualified Charitable Distributions here