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4 hours ago
You can claim the child as a dependent on your tax return as long as they meet certain qualifications. As DoninGA mentioned above, be sure you are answering the interview questions correctly. If anyt...
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You can claim the child as a dependent on your tax return as long as they meet certain qualifications. As DoninGA mentioned above, be sure you are answering the interview questions correctly. If anything is incorrect, the system may believe the child doesn't qualify. If you can't determine what the error is, delete the dependent, and re-enter the information. Be sure that you check "yes" if the child has lived with you all year. Rules for Claiming Dependents
4 hours ago
I tried to enter my SSI info from my SSA 1099, but it is not compatible with TT format. Is that getting fixed anytime soon? Thanks
4 hours ago
I have followed all the steps on this article to report a backdoor Roth IRA conversion. https://ttlc.intuit.com/turbotax-support/en-us/help-article/retirement-benefits/enter-backdoor-roth-ira-conver...
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I have followed all the steps on this article to report a backdoor Roth IRA conversion. https://ttlc.intuit.com/turbotax-support/en-us/help-article/retirement-benefits/enter-backdoor-roth-ira-conversion/L7gGPjKVY_US_en_US# I contributed post tax money to a Traditional IRA and then used the backdoor conversion. None of the contributions to my IRA are deductible. Step 1 confirms at the end that my contribution is not deductible. However, when I move to step 2 and include the 1099 - R, I NEVER get asked about this being a backdoor conversion (or anything similar). I keep moving along in the process and I'm told I need to pay a penalty as the income is above the MAGI. How do I fix this?
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4 hours ago
So, I’m curious to know how this issue can be resolved. The only application that I have this issue is TurboTax. Thank you,
4 hours ago
If the credit was transferred you would have done this at the time of purchase and had to sign papers agreeing to this. You also would have had your purchase price reduced by the amount of the credi...
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If the credit was transferred you would have done this at the time of purchase and had to sign papers agreeing to this. You also would have had your purchase price reduced by the amount of the credit. If you did not do any of that, then you did not transfer your credit. If you DID do this, you can just select the box that says I transferred my credit, then continue through. Either way, the dealer should have given you paper work that you can use to enter the information to claim the credit.
A few things to consider, the credit did end September 30, 2025. So if you purchased your vehicle after that, you would not be eligible for the credit. Below is additional information on the credit to help you determine if you are eligible or not.
• It is worth UP to $7,500 depending on the vehicle you purchase. The credit varies per vehicle
• It is a nonrefundable credit. This means it will reduce your tax liability by up to $7,500 but will not result in a negative number or a tax refund of money you did not pay in or have withheld.
• The credit cannot be carried forward
• You can use your income for the year you take delivery or the prior year if your income in the previous year was below the threshold if it is above the threshold in the current year.
• In order to qualify your AGI must be less than:
○ $300,000 if Married Filing Joint
○ $225,000 if Head of Household
○ $150,000 if single or Married Filing Separate
• Vehicle Qualifications are as follows:
○ Vans, SUVS, and Pickup Trucks my have an MSRP of no more than $80,000
○ Other vehicles must have an MSRP of no more than $55,000
The MSRP does not include destination charges, options added by the deal (seal coating, extended
▪warranty, etc.) taxes, fees, or manufacturer discounts or incentives. Basically, it does not matter if you strike a good deal on the vehicle if the Manufacturer says it is worth more than the limit, it does not qualify.
○ Final Assembly must be in North America
○ Click here to enter your VIN to see if your vehicle qualifies
This credit is reported on form 8936 (Clean Vehicles Credits) and flows to Schedule 3 Line 6 which then flows to line 19 of your Form 1040.
4 hours ago
There is no federal "inflation check". Are you asking about the checks issued by the state of New York?
https://www.tax.ny.gov/pit/inflation-refund-checks.htm
Did you file a 2023 NY sta...
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There is no federal "inflation check". Are you asking about the checks issued by the state of New York?
https://www.tax.ny.gov/pit/inflation-refund-checks.htm
Did you file a 2023 NY state tax return that met the criteria to receive the check?
4 hours ago
What are you contributing to exactly?
4 hours ago
I qualified for over $370/month in a premium tax credit from Healthcare Marketplace. However, I did not use it and my monthly premium was $266. Now, I am trying to file my tax return and TurboTax say...
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I qualified for over $370/month in a premium tax credit from Healthcare Marketplace. However, I did not use it and my monthly premium was $266. Now, I am trying to file my tax return and TurboTax says I do not qualify for it. 1. My income did NOT increase from the original estimate 2. I did not have a "Catastrophic" health plan 3. I am positive none of the credit was used each month Google says I should receive the credit added to my return, is this a mistake from TurboTax?
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4 hours ago
As noted in my question, the stock was in a privately held company, not a company with shares traded on an exchange. Where and how do I enter the principal and interest recieved during 2025?
4 hours ago
Yes. You should report this income from Form 1099-G on your tax return.
To input your Form 1099-G in TurboTax, do the following:
Go to Wages & Income and click the Add more income box
...
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Yes. You should report this income from Form 1099-G on your tax return.
To input your Form 1099-G in TurboTax, do the following:
Go to Wages & Income and click the Add more income box
In the Add more income screen, click the down arrow to the right of Unemployment (Government benefits on Form 1099-G)
Click Start to the right of Unemployment and paid family leave
Answer the next two questions by selecting the Yes, I did and Government (Form 1099-G) boxes
You will then be asked if you were required to repay unemployment benefits, select No if you were not, then Continue
Enter the Tax ID number of the payer (found on Form 1099-G), then Continue
Enter the payer information, then Continue
Fill in the rest of the information from Form 1099-G, then Continue
4 hours ago
The most common cause of this loop is telling TurboTax that only part of your distribution was an RMD. Even if you took out more than required, the software is getting tripped up.
Go back to...
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The most common cause of this loop is telling TurboTax that only part of your distribution was an RMD. Even if you took out more than required, the software is getting tripped up.
Go back to the 1099-R summary screen. Select edit next to the 1099 R in question
When asked, "How much of this distribution was a Required Minimum Distribution?" select "The entire distribution was an RMD."
On the following screen, if it asks for the RMD amount for that account, enter the full amount of the distribution (Box 1 of your 1099-R).
This reports that the requirement was met exactly by the cash taken. Since this info is only used for internal calculations and isn't sent to the IRS on your final forms, it "zeroes out" the penalty without misrepresenting your actual tax liability.
4 hours ago
Go to This TurboTax website to download the 2025 desktop edition you purchased - https://turbotax.intuit.com/personal-taxes/cd-download/install-turbotax/
4 hours ago
I PAID TAX ON THE RETIREMENT MONEY ALREADY
You had tax withheld from the distributions from the retirement account, just like when an employer withheld tax from your paychecks. When you enter it a...
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I PAID TAX ON THE RETIREMENT MONEY ALREADY
You had tax withheld from the distributions from the retirement account, just like when an employer withheld tax from your paychecks. When you enter it all into the software, the calculations are done to reconcile the amount of income you received and the amount of tax that was withheld. You might owe more or you might get a refund.
4 hours ago
I asked the robot about 15 times what to do about the refund and how to get it. And low and behold after I get done the refund was never offered to me. This is ridiculous, if I wanted to get screwed ...
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I asked the robot about 15 times what to do about the refund and how to get it. And low and behold after I get done the refund was never offered to me. This is ridiculous, if I wanted to get screwed again I would have went thru h and r block. At least they would have paid me.
4 hours ago
The fact that the Form 1099-DIV has your SSN does present a bit of an odd situation since the dividend was actually made payable to your IRA. It would have been better if no Form 1099-DIV had been i...
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The fact that the Form 1099-DIV has your SSN does present a bit of an odd situation since the dividend was actually made payable to your IRA. It would have been better if no Form 1099-DIV had been issued at all. "the dividend can be reported as a dividend on your tax return since they issued that form, and it is not part of the transferred funds on the 1099-R." That doesn't work. The payment was made to syoung123's IRA, not to syoung123, so it is not taxable to syoung123. syoung123 never owned the shares. The payee had to put an TIN on the Form 1099-DIV, and syoung123's SSN is probably all that they had, so that's what they used. Because the dividend was paid to the IRA,I suspect that no Form 1099-DIV should have been issued at all. As is, it would probably make sense to omit the Form 1099-DIV and include an explanation with the filed tax return.
4 hours ago
When entering the 1098-T info into TurboTax, use the correct school address/state/zip code, even if it is incorrect on your form. Just don't change any amounts for Tuition or Scholarships/Grants.
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When entering the 1098-T info into TurboTax, use the correct school address/state/zip code, even if it is incorrect on your form. Just don't change any amounts for Tuition or Scholarships/Grants.
If you're not claiming an Education Credit, you don't need to enter the 1098-T in your return, since it's entry is used to determine Eligible Education Expenses for the credit.
Here's more on How to Enter a 1098-T.
@user17701907387
4 hours ago
Go back to My Info on the left side of the online program screen. Edit the dependent and carefully check your answers to the questions.
Note - A child born in 2025 is deemed to have lived in your h...
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Go back to My Info on the left side of the online program screen. Edit the dependent and carefully check your answers to the questions.
Note - A child born in 2025 is deemed to have lived in your home for the entire year.
Make sure you select them as your Child, that you selected that they lived in your home for the Whole Year, temporary absence for education is deemed living in your home. That they did NOT provide over one-half of their own support (You Did), that you indicated there was no one else in the household providing support to them, and that you did NOT check the box labeled Not valid for employment in the Social Security number section.
If all your answers are correct then delete them as a dependent and re-enter.
4 hours ago
I have one IRA. I entered my 2025 RMD, the exact amount required and TT added 10% additional tax. Will IRS refund the overpayment or will I have to amend the return to recover TT's error.