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a month ago
I have a $500 foreign taxes paid item on a K-1 that Turbo Tax is not flowing through to a From 1116 or Schedule 3, so I am not getting the benefit of a $500 tax credit. I have tried overriding the f...
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I have a $500 foreign taxes paid item on a K-1 that Turbo Tax is not flowing through to a From 1116 or Schedule 3, so I am not getting the benefit of a $500 tax credit. I have tried overriding the foreign taxes paid on Schedule 3 (I am filing married filing jointly, and total foreign taxes paid are less than $600), but TT will not permit the override. Any suggestions?
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a month ago
It was reported in the Misc Income section titled "other income not already reported on Form w-2 or 1099"
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a month ago
For the 2025 tax year, New Mexico implemented new limits on the deductions you previously used.
The state now has a cap on the "Additional Exemption for Persons 65 or Older." You can only clai...
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For the 2025 tax year, New Mexico implemented new limits on the deductions you previously used.
The state now has a cap on the "Additional Exemption for Persons 65 or Older." You can only claim $3,000 per person if you paid unreimbursed and uncompensated medical care expenses of $28,000 or more during tax year 2025.
As far as capital gains, for general gains (stocks, etc.), the deduction is now capped at a flat $2,500. As an exception, you can only take a larger percentage deduction if the gain came specifically from the sale of a New Mexico-based business. If your gain isn't from a local NM business, the maximum you can enter is $2,500.
As non-residents, these exemptions are further reduced based on the percentage of your income that actually comes from New Mexico.
Here are the instructions for NM adjustments: 2025 PIT-ADJ Instructions and for non-resident allocations: 2025 PIT-B Instructions
a month ago
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@nickmarksthespot wrote: Is this correct? And, if this is the case, what mailing address do I use if I efiled with the IRS? Yes, you cannot e-file an amended partnership return with TurboTa...
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@nickmarksthespot wrote: Is this correct? And, if this is the case, what mailing address do I use if I efiled with the IRS? Yes, you cannot e-file an amended partnership return with TurboTax Business if you e-filed your original return with TurboTax Business. You would mail the 1065-X to the address listed at the link below depending on your total assets: https://www.irs.gov/instructions/i1065#f11392v03 @nickmarksthespot wrote: Where do I mail amended K1's in Virginia if I efiled? Thank you so much in advance! See the top of the form at the link below. https://www.tax.virginia.gov/sites/default/files/taxforms/corporation-and-pass-through-entity-tax/2025/502-2025.pdf
a month ago
The complicated solution is to amend both returns and be put at the end of a long queue for processing. The easy solution seems to be to do nothing, and the IRS will send out paper checks after 6 wee...
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The complicated solution is to amend both returns and be put at the end of a long queue for processing. The easy solution seems to be to do nothing, and the IRS will send out paper checks after 6 weeks: https://www.ctcresources.com/uploads/3/1/6/2/31622795/updates_re__refunds_via_paper_check_-_021826.pdf This wait is probably shorter than the processing time for an amended return.
a month ago
Absolutely RIDICULOUS that some genius decided to make it not work on anything below OSX 14. There is nothing 'technical' that would prevent full functionality. All of my macs are 13 (Ventura) and b...
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Absolutely RIDICULOUS that some genius decided to make it not work on anything below OSX 14. There is nothing 'technical' that would prevent full functionality. All of my macs are 13 (Ventura) and below. This is just some silly corporate move to anger and frustrate the customer base. What else is new?!
a month ago
I don't know of any generic issues with the South Carolina return. If you could clarify specifically what they are requesting from you we may be able to help you better.
a month ago
my taxes still say pending status and it’s been three days. is this normal? When is it going to say accepted or rejected?
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a month ago
Look at Schedule 3 line 1.
a month ago
If you're referring to the Intuit MAX monitoring option, yes, it covers both the primary and the secondary filer listed on your tax return.
MAX is an optional add-on package for any paid versio...
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If you're referring to the Intuit MAX monitoring option, yes, it covers both the primary and the secondary filer listed on your tax return.
MAX is an optional add-on package for any paid version of TurboTax Online.
Full Audit Representation
Full Identity Protection
Get expert help faster
For additional details, see MAX monitoring
a month ago
Yes, this is a unique part of Alabama tax law. It might seem like a software issue, but it’s actually because Alabama uses cash-basis rules for federal tax deductions.
Alabama allows you to ded...
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Yes, this is a unique part of Alabama tax law. It might seem like a software issue, but it’s actually because Alabama uses cash-basis rules for federal tax deductions.
Alabama allows you to deduct the Federal Self-Employment (SE) tax you actually paid during the calendar year.
TurboTax (and most software) struggles here because the SE tax for your 2025 return hasn't technically been "paid" yet, it’s being calculated right now as you file.
Alabama treats SE tax as "paid" on the date you filed your previous year's return or made estimated payments.
You asked if you can look at your 2024 return and record the SE amount from there. The answer is "yes". Look at your 2024 tax return and find the total Self-Employment Tax (usually Schedule 2, Line 4) on your federal return. That specific amount is what you "paid" when you filed in 2025.
To report this in TurboTax, perform the following steps.
Go to the State Taxes section for Alabama.
Look for a screen titled "Federal Tax Liability" or "Taxes Paid to the IRS."
There is often a specific box for "Self-Employment tax paid in 2025 for a prior year." * Entering the amount there should force it onto Schedule A, Line 6.
a month ago
I was a 20 year old intern at the time. I was paid hourly. With public accounting busy season, we were expected to work upwards of 55 hours so a majority of my income was overtime based. Being a profe...
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I was a 20 year old intern at the time. I was paid hourly. With public accounting busy season, we were expected to work upwards of 55 hours so a majority of my income was overtime based. Being a professional service makes you exempt but would that include me if I don't have my CPA license and was just preparing?
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a month ago
Sorry no. If you used the Desktop program your return is only saved or stored on that computer. Not even if you efile it. Are you on Windows or Mac? How to find tax files on Mac https://tt...
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Sorry no. If you used the Desktop program your return is only saved or stored on that computer. Not even if you efile it. Are you on Windows or Mac? How to find tax files on Mac https://ttlc.intuit.com/community/tax-data-file/help/find-your-tax-data-file-in-mac/00/26206 For Windows Did you search your whole computer for all files ending in .tax2025 etc?And check the recycle bin and your backups. Check in One Drive, Drop Box, etc. It should be in your Documents then in the Turbo Tax folder. Also if you have multiple Windows user accounts, log into each one and do the search for the *.tax2025 data file from within each one and checking the Recycle Bin in each one. If you don't have the main .tax file you might have one that starts with a Tilde sign ~ like "~your name.tax2025”. That file is if your computer crashes or your real file gets lost or deleted or corrupt so you can restore it.
a month ago
It seems that there is an issue with YOUR state return, and if you want to receive your refund, you will provide SC with the information they are requesting.
a month ago
We're aware that some customers are experiencing issues when trying to file and aren't able to continue. We're actively investigating this issue. We'll inform you once the program is updated.
a month ago
For federal taxes, In general, you almost always pay less in total tax when you file joint if you are married. As for state taxes, because each of you resides in a community property state you will ...
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For federal taxes, In general, you almost always pay less in total tax when you file joint if you are married. As for state taxes, because each of you resides in a community property state you will each have to report 50% of your total community income (wages) and 100% of you own separate income. You will probably be better off filing separate state returns, with each spouse only filing in their state of residence. However, the only way to know for sure is to prepare the returns each way - MFJ & MFS.
You can use TurboTax Online to file separate state returns, but we recommend you use the TurboTax Desktop software version to do this because you'll only need to pay for one TurboTax product (you can file up to five returns).
For more information see the following TurboTax Help Article:
How do I prepare a joint federal return and separate state returns?
a month ago
Yes, if the activity is for child care and not primarily for education purposes.
a month ago
It depends. To be deductible, the expense must be to "diagnose, cure, mitigate, treat, or prevent" a specific disease or to affect a structure or function of the body. Some expenses like acupuncture ...
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It depends. To be deductible, the expense must be to "diagnose, cure, mitigate, treat, or prevent" a specific disease or to affect a structure or function of the body. Some expenses like acupuncture and chiropractic care are explicitly listed as deductible medical expenses by the IRS.
Many other holistic treatments, such as Naturopathy, Homeopathy, or Nutritional Counseling, etc. usually require a doctor’s note. This letter must state that the treatment is necessary to treat a specific diagnosed medical condition (like diabetes or chronic back pain).
You must itemize your deductions to claim medical expenses. Also, medical expenses are only deductible for the amount in excess of 7.5% of your AGI. For example, if your AGI is $50,000, only your medical expenses over $3,750 can be claimed as an itemized deduction.
Refer to IRS Publication 502 for more information.
a month ago
You must enter your self-employment income first to access this worksheet.
To enter your self-employment income in TurboTax Online and access the Keogh, SEP, and SIMPLE Contribution Worksheet f...
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You must enter your self-employment income first to access this worksheet.
To enter your self-employment income in TurboTax Online and access the Keogh, SEP, and SIMPLE Contribution Worksheet for your 2025 Federal Tax: 1. Go to the Federal Taxes section. 2. Select Wages & Income. 3. Scroll down to the Self-Employment section and choose Start or Update next to Business Income and Expense (Schedule C). 4. Answer Yes when asked if you had self-employment income or expenses. 5. Follow the prompts to enter your business income, including any amounts from 1099-NEC, 1099-MISC, or cash payments. 6. After entering your income, the program allows you to enter self-employed retirement contributions. Once your self-employment income is entered, you can proceed to the SEP IRA contribution section to access the Keogh, SEP, and SIMPLE Contribution Worksheet.