All Posts

If you are referring to Form 1099-NEC, and you have an amount on Box 7 for State Income.  As long as you have nothing on Box 5 for State Tax Withheld, then you can leave boxes 5, 6, and 7 blank.       If you are referring to a different form, let us know and we can give you specific information for that specific form.  

The correct answer was to delete the 1099s. I would recommend deleting them entirely from the documents section as well before reimporting. My taxes are done and I see 5 copies of some 1099s some with 3 copies and some with 1 copy. The other problem in the review section is if you have multiple accounts the names of the 1099s are all the same in the review section. The documents section shows 4 digits of the account for differentiation if you have multiple accounts. It would be helpful if the review section had the same identifier. 

To enter Section 1256  Contracts and Straddles:   Navigate to Wages & Income Scroll down to "Less Common Investments and Savings" Click on the down arrow to expand Next to "Contracts and Straddles" select "Start" Answer "Yes" to "Any Straddles or Section 1256 Contracts?" On the next screen, it is highly unlikely that you need to make any elections, so just click "Continue" On the screen with "Contracts and Straddles", more than likely you only need to select Section 1256 contracts...  You may want to read the IRS instructions for Form 6781, Gains and Losses from Section 1256 Contracts and Straddles Select "I'll report the totals from each broker or account. Enter the information to report your your profits and losses from your Section 1256 Options transactions.  

No, the IRS allows for penalty-free retirement withdrawals starting at 59½; once you pass that age, you can access your IRA or 401(k) funds for any reason without the additional 10% tax.    However, keep in mind that while the penalty is gone, the withdrawal is still considered taxable income. You will owe regular federal (and potentially state) income tax on the amount you took out, which will be added to your wages from your job.

The IRS will say that an investment cost basis cannot be negative.  That is why you are prevented from electronic filing.   Are you referring to a negative cost basis reported on an investment on an IRS form 1099-B or the IRS Schedule 8949?   This IRS website states:    A shareholder's stock basis is decreased, but not below zero...   If so, you may have to report a zero cost basis or re-construct the cost basis from your personal records.   [Edited 03/22/2026 | 5:38 AM PST] @vrubright 

Your answer doesn't make sense as the IRS instructions for Form 1116 Line 3a are as follows: Line 3a. Include the following itemized deductions (from Schedule A (Form 1040)) on line 3a. Medical expenses (line 4). General sales taxes. Real estate taxes for your home. State and local personal property taxes.   If you don’t itemize deductions, enter your standard deduction on line 3a.   Per the IRS, Line 3a has nothing to do with foreign qualified dividends and Line 3b also is not referring to total foreign dividends. I am itemizing and for Line 3a on Form 1116, I am adding my Medical Expenses ($0) to State and Local Sales Tax ($1764)  and Real Estate Taxes ($2958) and State and Local Personal Property taxes ($0). Total equals $4722 and that is what I put on Line 3a but your software program is duplicating this amount and placing it on Line 3b also (for some unknown reason). Line 3b is for "Other deductions" of which I have none. Line 3b should remain blank and it was blank on my 2024 return when I had a CPA do my taxes. Can you tell me how I can make sure the $4722 amount in Line 3a is not being copied down into Line 3b by your software program? Thanks       

The New York Department of Revenue handles timing and processing of your refund. You can track your refund here: Income Tax Refund Status, and you can contact the NY Department of Revenue here: New York (NY)

Yes, you can make an IRA contribution if you have earned income.  In Deductions & Credits, go to Retirement & Investments > Traditional and Roth IRA Contributions.   You can test how much a contribution will reduce your taxes by entering various amounts.     Here's more info on Last Minute Ways to Reduce Your Taxes and 7 Best Tips to Lower Your Tax Bill.   @Beezo1951       

For those encountering the issue on windows, this may be related to one drive.  I found that while the file was listed in my documents, one drive had apparently crashed and couldn't access the old file.  Restarting one drive fixed it.