All Posts

Box 1 on W-2 shows $57,423.56.  On Turbo Tax second screen it asked for the adjusted stock basis which I entered $63,192.10 from the Fidelity Supplemental Information.  This adjusted the amount on form 8949 showing $1 loss.   My question, should I use Box 1 from W-2 showing $57, 423.56 or the Fidelity Supplemental Information for the NQSOP sale showing adjusted cost basis of $63,192.10 for the adjusted ?  I'm not clear why Box 1 and adjusted cost basis on Fidelity  Supplemental Information are not the same amount.     Regarding the $0.64 reported on the Fidelity Supplemental Information but zero on the 1099-B, could that be from the cashless exercise and sell transaction of the NQSOP?

To enter the 1099-B select the following: Federal Income I'll Choose what I work on Investment Income Stocks, Cryptocurrency, Mutual Funds, Bonds, Other Stocks Bonds Mutual Funds Enter the bank or brokerage name and any other info you have  Choose the type of stock and continue through to enter the sale and the costs basis

The California Military Retired Exclusion may be found in TurboTax Online, in the California state income tax return, at the screen Any Pension or Annuity Adjustments.   You are correct.  A minus entry in the column Subtraction reduces the Exclusion.  The amount you pay the state likely will increase.   @MaryY1     

The SSA-1099 does not have an EIN.  If you are being asked for an EIN, you are likely in the wrong spot.   This is not the same as a W-2 and does not go in the section for W-2's.    To enter your SSA-1099 select the following: Federal Income Retirement Plans and Social security Social Security and Rail Road Benefit (SSA-1099, RRB-1099)

The IRS requires an exact match with the Social Security Administration (SSA) records.  TurboTax's internal check will flag if there's a difference. Steps to take: Log out of TurboTax Use Chrome as your browser (Works best with TurboTax) Clear Cache & Cookies Log back in Make sure that the name matches your Social Security card exactly, including the middle initials In TurboTax go to Personal Info on the left sidebar. Delete your full name (and your spouse's if applicable). Retype them by copying your Social Security Card. Attempt to re-file

It depends.  If you itemized in 2024 and took a deduction for your 2024 NY state taxes, this may or may not be excluded from income. It would be included in your taxable income to the extent that you received a tax benefit from it.  If it did not automatically transfer you can enter it by selecting the following: Federal Income State and Local Tax Refunds on Form 1099-G Enter the information for the state, return year and amount. Note: You should have received a 1099-G from the state since you received a refund.  If you did not receive a 1099-G, you can contact NY state department of taxation to get a copy of your 1099-G. Before entering the amount from your last year return, it is always a good idea to verify that your refund was the amount that is listed on your tax return (this can be done with the 1099-G or by contacting the taxing authority) and that it was not changed by the state after they accepted your return.    @Sunshine 58 (edited 3/17/2026 @ 10:02AM PST)

This is reimbursement of IRS and NY Income tax by the United Nations to my wife, to offset staff assessment deductions from her paycheck and avoid double taxation. The UN checks will be payable to the IRS and NY.