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8 hours ago
Does all the following sound correct? In mid-January 2026, I “converted IRA to ROTH (cIRA2ROTH)” in the amount of $330k paying $80k in estimated tax. Note all my IRAs are converted from 401ks and ...
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Does all the following sound correct? In mid-January 2026, I “converted IRA to ROTH (cIRA2ROTH)” in the amount of $330k paying $80k in estimated tax. Note all my IRAs are converted from 401ks and not considered traditional IRAs. There are no after-tax contributions within my IRAs, only in my ROTHs. I will file Married filing Jointly (MFJ), where I am not labeled an HCE for this year, but was last year for 2025. As of my mid-January’s cIRA2ROTH, I know my final tax bracket will be 32%, if I do no more cIRA2ROTHs. Projecting my 2026 W4 withholdings plus the $80k estimated tax, this will be at least 101% of my 2026 total tax bill. Therefore the 90% is Safe Harbor rule for 2026 will protect me from penalty, even if I do additional cIRA2ROTHs before the end of this year. It was also recommended I calculate my maximum estimated tax rate for 2026 then divide this by 4, making four Quarterly payments of this amount (a little tricky since I need to consider Qtrly W2 withholdings, but doable). Provided I pay the estimated tax at the same time of the next cIRA2ROTH at my final estimated tax rate. using Form 2210 Schedule AI as a guideline where I can’t rely on the various MFJ tax brackets levels like I did for the mid-Jan cIRA2ROTH, must do this at my final tax rates will get penalized after the fact (post-15Apr2027) for underpayments the whole year. My main concern is I have made some bad assumptions above where in mid-Jan I needed to pay a higher estimated tax than the 25% I did on the $330K (this was due to the MFJ Tax Bracketing) where all year I will be considered making underpayments (Form2210 AI)
8 hours ago
The final year for this form was 2024, thus it is not available in the 2025 software.
See: Form 5405 will no longer be revised
8 hours ago
Contributions made through payroll deductions are categorized as employer contributions. Enter amounts shown in box 12 of your W-2 only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax.
8 hours ago
Duplicate question also addressed here: https://ttlc.intuit.com/community/retirement/discussion/traditional-to-roth-rollover/01/3860204/highlight/false#M265994 Whether the contributions exceed t...
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Duplicate question also addressed here: https://ttlc.intuit.com/community/retirement/discussion/traditional-to-roth-rollover/01/3860204/highlight/false#M265994 Whether the contributions exceed the annual limit depends on the years for which the contributions were made.
8 hours ago
To fix this rejection and ensure your return is processed correctly, follow these steps:
1. Log in to TurboTax.
2. Go to your Federal Return.
3. Navigate to the Deductions and Credits sec...
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To fix this rejection and ensure your return is processed correctly, follow these steps:
1. Log in to TurboTax.
2. Go to your Federal Return.
3. Navigate to the Deductions and Credits section.
4. Navigate to the 'Energy efficient home improvements' topic.
5. On the screen 'Did you have any of these qualified energy efficiency improvements in 2025?' (which lists windows, doors, and insulation): Select 'Yes' ONLY if you have actual costs to report for those specific items. Note: Entering $0 does not count as a cost. If you did not pay for these specific items, select 'No, I did not make these qualified energy efficiency improvements.'
6. On the next screen, 'Did you have any of these residential energy property costs in 2025?', select 'Yes' or 'No' as it applies to your other energy property (such as central air, water heaters, or heat pumps).
7. Continue through the remaining screens as before. 8. Verify no errors or notifications appear in Final Review. If they do, fix the errors and retransmit your return. Please review the reason for the reject. If the reject continues, you may want to file this return via U.S. Mail: print and mail it to the appropriate taxing authority.
8 hours ago
The TurboTax Free Edition is for customers who are filing simple Form 1040 returns only (no schedules except for Earned Income Credit, Child Tax Credit and Student Loan Interest. Roughly 3.7% of taxp...
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The TurboTax Free Edition is for customers who are filing simple Form 1040 returns only (no schedules except for Earned Income Credit, Child Tax Credit and Student Loan Interest. Roughly 3.7% of taxpayers qualify
If you have not filed your tax return yet, you can review your fees using the instructions below to find out why you're being charged. You can follow the instructions in this article to remove any unwanted Fees Why am I being charged for TurboTax Free Edition?
You can review your fees in TurboTax online as follows:
Go to the left side on your screen under "Tax Home"
Go to "Tax Tools" then "Tools"
The "Tools Center" Box will pop up
Click on "My Fees" to see a summary of your Turbo Tax Fees.
Click here for How do I review my fees in TurboTax Online?
If you have already filed your tax return and paid the TurboTax fees, see this link How do I request a refund for my TurboTax product?
You can also contact TurboTax Customer Support using this link: Turbo Tax Customer Support.
Please return to Community if you have any additional information or questions and we would be happy to help.
8 hours ago
1 Cheer
This usually occurs when you have a shared policy and self-employed health insurance deduction. To remove the error, try these steps:
Go to the Affordable Care Act (Form 1095-A) section under F...
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This usually occurs when you have a shared policy and self-employed health insurance deduction. To remove the error, try these steps:
Go to the Affordable Care Act (Form 1095-A) section under Federal > Deductions & Credits.
When asked if this policy is tied to your self-employment, uncheck the box or select No.
If you do not have a Schedule C, please post again and we can investigate more.
8 hours ago
Line 11b on the 1040has AGI at 570. The system seems to ignore the phaseout and just locks at 10k. Any idea how to submit a ticket to have this resolved?
8 hours ago
Hi - I paid $2K+ foreign taxes on a rental property in Canada but don't owe any US taxes given depreciation expense brings gross income negative on the rental property. That said, I should be able to...
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Hi - I paid $2K+ foreign taxes on a rental property in Canada but don't owe any US taxes given depreciation expense brings gross income negative on the rental property. That said, I should be able to carryforward the $2K into future years but TurboTax Desktop Premier won't allow me to create Form 1116 to track the carryover. I was able to generate the report in 2024 version despite having the same situation so is this some sort of bug in the 2025 version?
8 hours ago
Gambling losses can only be deducted up to the amount of the gambling winnings. Gambling winnings are reported on Form 1040 Schedule 1 on Line 8b. The amount from Part I of Schedule 1 Line 10 flows...
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Gambling losses can only be deducted up to the amount of the gambling winnings. Gambling winnings are reported on Form 1040 Schedule 1 on Line 8b. The amount from Part I of Schedule 1 Line 10 flows to Form 1040 Line 8. Gambling Losses are reported on Form 1040 Schedule A as a Other Itemized Deductions. Gambling losses are not a one-for-one reduction in winnings. Your total itemized deductions reported on Form 1040 Schedule A must be greater than the standard deduction for your filing status to have any tax benefit.
To enter, edit or delete Gambling Winnings and Losses -
Click on Federal Taxes (Personal using Home and Business) Click on Wages and Income (Personal Income using Home and Business) Click on I'll choose what I work on (if shown) Scroll down to Less Common Income On Prizes, Awards, and Gambling Winnings, click the start or update button
8 hours ago
"if it was necessary the system would route you around to match up the liquidation distributions with the stock being sold but in your case that wasn't necessary" Except that help for that item sa...
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"if it was necessary the system would route you around to match up the liquidation distributions with the stock being sold but in your case that wasn't necessary" Except that help for that item says that it is necessary, but TurboTax is still not routing me anywhere. TurboTax help says below. For me, both of those are true (cost basis is 0 and this is the final distribution). Therefore, distribution is taxable, but TT is not routing me (and it never asked me if this was final distribution or what my cost basis was)! What's a liquidation distribution? When a corporation, bank, or credit union undergoes a partial or complete liquidation, you may receive a liquidation distribution. Oftentimes, this distribution isn't taxable; instead, it reduces the basis of any stock you own. However, in the following cases, the distribution is taxable, which means you'll need to report it as a liquidation sale when you report your investment income: Your cost basis in the stock is zero or less than the distribution amount; or This liquidation is a final distribution from the company
8 hours ago
Depends on the year for which each contribution was made. If both were made for the same year, you are over the limit. If your financial institution did not flag an excess contribution, it seems li...
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Depends on the year for which each contribution was made. If both were made for the same year, you are over the limit. If your financial institution did not flag an excess contribution, it seems likely that the contributions were made for different years, but you need to check that with the financial institution.
8 hours ago
yes go to Wages & Income Summary and scroll down under "Less Common Investments and Savings" and select 1099-OID (skip import, just type it in manually). After importing the boxes you'll need to pro...
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yes go to Wages & Income Summary and scroll down under "Less Common Investments and Savings" and select 1099-OID (skip import, just type it in manually). After importing the boxes you'll need to provide information on which state(s) it came from if you had any OID from your home state that will be exempt from state taxes, and you can use "Multiple States" for anything state taxable; you should have the detail in your consolidated 1099 statement from your brokerage.
8 hours ago
Sorry, I didn't delete the original entry for the CSA 1099R. If it's deleted and re-entered, "answering "yes" to the question works.
8 hours ago
Click on My Info on the left side of the online program screen. Edit your personal information. On the screen labeled Let's check for some other situations check the box labeled Another taxpayer ca...
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Click on My Info on the left side of the online program screen. Edit your personal information. On the screen labeled Let's check for some other situations check the box labeled Another taxpayer can claim me as a dependent on their tax return.
8 hours ago
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8 hours ago
How can I get my information from Turbo Tax 2024 into Turbo Tax 2025?
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8 hours ago
If you mailed your return already, you will have to wait until your return is processed, you will not be able file a return electronically. If you have not mailed your return, you can go back to you...
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If you mailed your return already, you will have to wait until your return is processed, you will not be able file a return electronically. If you have not mailed your return, you can go back to your TurboTax account and check to see what the status of your return is. If you used TurboTax Online, you can see the status of your return on the Tax Home screen of your account. You should have also received emails updating you on your return status.
If you used TurboTax Desktop:
Select File.
Select Check E-file status.
If your return was not filed, you can go through the return and file it.
If it's been accepted, track your refund at the IRS Where's My Refund? site.
You'll need your Social Security number or ITIN, filing status, and the exact amount of your refund to check your status, which you'll find on the first screen after signing in to TurboTax.
If you mailed your return, wait 4 weeks after mailing your return before using the tool.
If it's rejected, fix your return and file it again.
If it's pending, wait until your return is accepted.
If it's been more than 21 days since your e-filed return was accepted, you can call the IRS directly to check on your refund status.
Go here to track your state refund.
8 hours ago
We made stock donations to several non-profits and TurboTax is asking me for the value of the stock.
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8 hours ago
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