All Posts

The taxability of Social Security has not changed for 2025.     Whether your Social Security income is taxable depends on your total income, including your Social Security plus any other income. Generally speaking, if your only income is Social Security, you probably do not make enough money to be required to file a federal tax return.   The Social Security Benefits Worksheet determines the taxability of Social Security in your income tax return.  See IRS Publication 915 page 16.   Social Security benefits are reported on line 6a of the IRS form 1040.  Taxable Social Security benefits are reported on line 6b.   See this TurboTax Help.

I recommend that you go back to the beginning screen that lists your K-1's. and click "edit". Go back through each screen.  At one point you will be asked to "click" on a radial button to indicate that you have a figure on a specific K-1 box. Once that is completed, as you go through the next screens you should be able to input the necessary information on the K-1.

To adjust the cost basis for a home that was inherited for improvements before selling it, you can add the cost of capital improvements to the property’s fair market value at the date of the decedent's death.    This is referred to as the  "stepped-up" basis. It reduces the capital gains tax. You should keep detailed records and all receipts, and invoices from contractors for all improvements made in order to to justify these adjustments.   Where do I enter the sale of a second home, an inherited home, or land on my 2025 taxes?   Do I need to report inherited property or land?   Tax Aspects of Home Ownership: Selling a Home   If you have additional information or questions regarding this, please return to Community and we would be glad to help.

When the browser window opens to Sign In to your broker account, try clicking on the icon in front of the URL address, then choosing 'Allow' for Local Network in Settings.   @Crunchie2000     

Actually I would just enter your total income as Other self employment income or as Cash or General income.  You don't need to get a 1099NEC or 1099Misc or 1099K.  Even if you did you can enter all your income as Cash.  Only the total goes to schedule C.   How to enter income from Self Employment https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/26653

While the total is correct, the areas placed are not. The software recategorized $1568 from dividends to interest during the transfer. How the information was originally received may have affected how the program looked at the numbers.   If you want to let the developers know, you can. Once you file your return, as long as the settings to receive communication from Intuit don’t block it, you will see a pop-up message or receive an email with a survey asking you about your experience. We encourage you to leave your notes and comments there. “Voice of the Customer” notes and comments are read and acted upon.  If you are using TurboTax Desktop, you can also leave feedback at the Final Steps tab.

Yes, you can add as many 1099s as you need.   There should be a box on the self-employment summary screen that says, Add income for this work.    Does a 1099-NEC or 1099-MISC mean I'm self-employed?       How do I report income from self-employment?          

@r1milam wrote: When I try to create another account with the same email address, it is not allowed. It says the email address is already associated with another account. If you are referring to the User ID, that's correct.  Each User ID to establish an account must be unique.   Once the account is created, however, in the account settings you "should" be able to use the same notification email address in more than 1 account, such as if a parent wants to get the email notifications for a return they prepared in a dependent's account, etc.

ok good news glad it worked out.  be sure to check the basis carried over from 2024 if this was a non-deductible contribution and you have the right tax outcome on your form 8606 and 1040 Line 4b.   Note also if you didn't file Form 8606 in 2024 for a non-deductible contribution you would have to go back and do that also - see notes at the bottom of the Turbotax help page for backdoor Roth in previous comments.

The IRS rules for the Child and Dependent Care Credit are very specific. To qualify, an expense must be "work-related," meaning you paid for it so that you could work or look for work.   While the cost of the actual care (like a daycare center or after-school program) is a qualifying expense, the IRS explicitly states that the cost of food, clothing, and education is not. Since school lunches are considered a personal living expense rather than a care-related expense, they do not count toward the credit.   Even if the lunch is provided by a daycare center, you can only include the cost if it is inseparable from the care itself. If the school or care provider lists the lunch as a separate fee, it must be subtracted from your total qualifying expenses.

Why is the TT 2024 Amend showing Fed Due As soon as you start the Amend process. I have not edited the 2024 tax return so it should be $0, even help says on the screen. I called TT help for 100% calc guarantee and did not get much help. They really needs to show all calculations so we can debug the issue overselves.      

HI, looking back at my 2024 Return on form 4852 line 4, I put year ending 2024. Do I now need to amend 2024 return to change that line to 2025? Or will IRS figure it out when they recieve 2025 1099-R this year? @ThomasM125 

Upon further investigation, it appears that despite the SECURE 2.0 Act saying that catch-up contributions for HCEs for years after 2023 must be Roth, the IRS implemented a 2-year "transition period" by not enforcing this for 2024 and 2025.  So the plan administrator is correct that you don't have to worry about your 2025 catch-up contribution that was made to the traditional 401(k) account.

If you have an underpayment penalty on your return, you can go to the Underpayment Penalty interview and answer the questions. Select Other Tax Situations from the left side menu, and look for Underpayment Penalty under Additional Tax Payments.    You can choose the annualized method of calculating the penalty if your income fluctuates, which may reduce the penalty. If you believe you may qualify for a waiver of the penalty, you can also request a waiver in that section.   You can preview forms in TurboTax Online. See here for details. You may need to pay for your Online product, if you haven't already, to access all of the forms and worksheets.  

In TurboTax Online, you may print or view your full tax returns prior to filing after you have paid for the software.   View the entries down the left side of the screen at Tax Tools. Select Print Center. Select Print, save or preview this year's return. Select Include government and TurboTax worksheets. Form 4562 Depreciation and Amortization Report is the only landscape document in the packet.