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@JHWE wrote: According to IRS Form 5329, line 47 instructions, https://www.irs.gov/instructions/i5329#en_US_2025_publink13330rd0e1537, the earnings on the excess contribution are reported in 202... See more...
@JHWE wrote: According to IRS Form 5329, line 47 instructions, https://www.irs.gov/instructions/i5329#en_US_2025_publink13330rd0e1537, the earnings on the excess contribution are reported in 2026, the year you receive them. You misread the instructions.  Even if you withdraw the excess contribution during the 2026 calendar year, the fact that the excess contributions were for 2025 means that any interest that is paid is also reported on your 2025 tax return.  This is reported either as miscellaneous other income, or as interest not on a 1099-INT. 
Para reportar un formulario 1099 en TurboTax Online, debes ingresar la información exactamente como aparece en tu formulario. Esto se hace en la sección Wages & Income bajo 1099-MISC, 1099-NEC, o 109... See more...
Para reportar un formulario 1099 en TurboTax Online, debes ingresar la información exactamente como aparece en tu formulario. Esto se hace en la sección Wages & Income bajo 1099-MISC, 1099-NEC, o 1099-DIV, según corresponda. Si TurboTax no te permite continuar, revisa que todos los datos estén completos y correctos, incluyendo el número de identificación del pagador y los montos. También asegúrate de que no haya errores pendientes o preguntas sin responder en otras partes del programa que puedan estar bloqueando el proceso. Si tienes un mensaje específico de error, dime cuál es para darte instrucciones más precisas.
I had the same issue. I spoke to billing support for 1.5+ hours and they tried to help me but then the subtotal went up to $203 with an add for $44 to use my refund to pay the state. so now it looked... See more...
I had the same issue. I spoke to billing support for 1.5+ hours and they tried to help me but then the subtotal went up to $203 with an add for $44 to use my refund to pay the state. so now it looked like $247. +++ I had paid for a desktop version and was lead here with the promotion of a $0 fee for state filing. Costco Premier turbo tax was $65.99. so now add that to the potential $247 ='s $313. I was upset for the hours spent filing and the last screen saying pay or remove the online file. (Not allowing a download for my time)  A 2nd call today for 1 hour:19 min. resulted in the decline refund team telling me to switch to desktop and re-input this years info. I said I had been offered a couple promo codes and would like to see if they would work before i gave up my 4.5 hrs filing+ 1.5hrs customer support + this 1.3 hr refund call. It worked out and i did not have to pay anything additional other than my desktop version. So, thank you for that, but this was a hard road to travel to save $25 on a state tax filing discount. Next year will be desktop again. not going through this again. good luck to you. you may have to call a couple times to get the correct person who can help you. it is a crapshoot. Just like going to the DMV with questions. 
Yes, installing new siding is considered a home improvement (specifically a capital improvement) because it adds value to your home, prolongs its life, or adapts it to new uses. Where it gets entered... See more...
Yes, installing new siding is considered a home improvement (specifically a capital improvement) because it adds value to your home, prolongs its life, or adapts it to new uses. Where it gets entered in TurboTax depends on its use. If this is for your home it is not entered in TurboTax keep your receipts. It will be used to reduce any capital gain when you sell.   For tax purposes, siding is generally not immediately deductible, but it is treated as a capital improvement that increases your home's cost basis. This reduces your capital gains tax when you sell your home.    You would not enter this information in TurboTax until you sell your house. And then it will only be reported in that it increases your homes value and decreases your capital gains tax.   If the siding was used for a home office and you added siding to a qualified home office that is exclusively used for your business, it is a permanent improvement that you can depreciate. The cost is treated as a business asset, generally depreciated over 39 years (using IRS Form 8829) rather than deducted immediately, because it adds value to the structure.   If it is for a home office you would enter as either a business asset or a business expopense as discussed below.   The room or structure must be used regularly and exclusively for business.   When you sell your home, the depreciation claimed must be "recaptured," meaning it is treated as ordinary income and potentially taxed.   If you are using the simplified method for your home office you cannot depreciate it.   If the siding was a repair rather than an improvement (residing the whole office), it might be deductible as a repair expense for your business in the current year.     Please return to Community if you have any additional information or questions and we would be happy to help.
The same thing just happened to me. I've saved and saved using the desktop version and now I have to start over!
@ashishgargmp20 , Namaste Ashish ji For  foreign passive incomes like interest and dividend , you enter these just as if these are from domestic sources. For rental income you use  Schedule-E , j... See more...
@ashishgargmp20 , Namaste Ashish ji For  foreign passive incomes like interest and dividend , you enter these just as if these are from domestic sources. For rental income you use  Schedule-E , just as if you are dealing with domestic , except you must take depreciation and it is ADS with 30 year life. Capital gain i.e. stocks, bonds etc. are again reported just like domestic ones. Where things get murky is if you have paid Foreign Tax --- this may require filing a form 1116 to claim FTC.    If you need more detail help, please add to this thread or if you wish privacy PM me ( just please NO PII --- Personally Identifiable Information ).   Namaste ji  
No, automotive repair isn't considered the transportation industry for the business code for your Schedule C. Here are the business codes for automotive repair from the IRS Schedule C instructions: ... See more...
No, automotive repair isn't considered the transportation industry for the business code for your Schedule C. Here are the business codes for automotive repair from the IRS Schedule C instructions:   Repair & Maintenance  811120 Automotive body, paint, interior, & glass repair  811110 Automotive mechanical & electrical repair & maintenance  811190 Other automotive repair & maintenance (including oil change & lubrication shops & car washes)   Choose the code that's closest to what you do.   Refer to the IRS Schedule C instructions Principal Business Codes - Repair and Maintenance for more information.
For both the 2024 and 2025 tax years, because you withdrew the excess contributions and earnings before the filing deadline (April 15), the IRS treats them as if they were never made. You do not need... See more...
For both the 2024 and 2025 tax years, because you withdrew the excess contributions and earnings before the filing deadline (April 15), the IRS treats them as if they were never made. You do not need to pay the 6% excise tax penalty.    If you filed you 2024 tax return, you will have to amend the return to report the earnings.   The earnings on the 2024 excess are taxable in 2024, even though you withdrew them in 2025.  Enter the 2025 1099-R for your 2024 tax return. Box 1: Total amount withdrawn (contribution + earnings). Box 2a: Just the earnings amount. Box 7: Use codes P and J. Year: Select 2025 as the form year when prompted.  The earnings on the 2025 excess are taxable on your 2025 return.  Create another substitute 1099-R for the 2025 return. Box 1: Total amount withdrawn in 2026. Box 2a: Earnings only. Box 7: Use codes P and J. Year: Select 2026 as the form year. When asked if an exception applies to the early withdrawal penalty, select "Corrective distributions made before the due date of the return" to zero out any 10% penalty on the earnings.    In the Deductions & Credits section, you must still enter the Roth contributions for each year. When TurboTax identifies them as excess, you must indicate that you withdrew the entire excess amount plus earnings before the deadline to avoid the 6% penalty on Form 5329.  
I'm moving to the desktop product. I started online until I was able to get a copy of the desktop product (I bought a physical copy of TurboTax from my local Costco to get the best deal).
A Roth IRA is a valuable asset. If you want to use the SS deduction (which will eventually be gone) to offset conversions into a Roth IRA, go right ahead.  Any action you take will appear on your 2... See more...
A Roth IRA is a valuable asset. If you want to use the SS deduction (which will eventually be gone) to offset conversions into a Roth IRA, go right ahead.  Any action you take will appear on your 2026 tax return. Whether you have achieved a tax-free Roth conversion depends on how you look at it.   @intuit-rwck9 
Since you didn't name the error, start here: employer state id missing on forms w2 or 1099 missing an attachment for one of the new subtractions You need to go to the final review and see... See more...
Since you didn't name the error, start here: employer state id missing on forms w2 or 1099 missing an attachment for one of the new subtractions You need to go to the final review and see what the error is, what form is showing, what line, more information. The review has a box for you to correct. Reply with more information for more help.
Look at your tax return Form 1040.   The dependents you claimed are listed on page 1 under Dependents and there will be a box (7) that is marked to indicate their credit status.         
You'll need to enter something in the fields to remove the flags.  Try entering zero in the empty fields, or if its a date that it wants, enter a date based on the type of gain that the transaction s... See more...
You'll need to enter something in the fields to remove the flags.  Try entering zero in the empty fields, or if its a date that it wants, enter a date based on the type of gain that the transaction shows.  For example, if its a short-term sale, enter a date within a year of the date sold date.  If its a long-term sale, enter a date that is over a year from the date sold date.
Your rollover IRAs are a traditional IRAs, so distributions from those IRAs, distributions that were not rolled over, must be included on line 7.  TurboTax has correctly included the distribution on ... See more...
Your rollover IRAs are a traditional IRAs, so distributions from those IRAs, distributions that were not rolled over, must be included on line 7.  TurboTax has correctly included the distribution on Form 8606 line 7 automatically.   Your basis in nondeductible traditional IRA contributions does not reside in any particular one of your traditional IRAs.  It applies to an individual's traditional IRAs in aggregate, including the individual's rollover IRAs.  Because your traditional IRAs are treated in aggregate for these purposes, the taxable result is the same no matter which of your traditional  IRAs you take distributions from.
You will add your additional W-2 in the same section you added the first one.   Click on Federal > Income > Wages & Salaries (W-2) Choose Add another W-2 Then, fill out the information f... See more...
You will add your additional W-2 in the same section you added the first one.   Click on Federal > Income > Wages & Salaries (W-2) Choose Add another W-2 Then, fill out the information from the W-2
What was the 1099-MISC income for?  Once the type of income is known, someone can likely guide you through the proper 1099-MISC questions.