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This is the first time for me in over a decade of using Turbo's business version for Schedule C business owners  that the form hasn't been ready before Est. Taxes are due Jan 15th -- Final payment of... See more...
This is the first time for me in over a decade of using Turbo's business version for Schedule C business owners  that the form hasn't been ready before Est. Taxes are due Jan 15th -- Final payment of 2025.  I ALWAYS depend on entering actuals by start of Jan to calculate if anything is due. TT finally did one update to partial Schedule C a few days ago but it only has MISC income with no 1099 box avail and not NEC and MISC. So for n ow I entered our grand total profit there. (Obviously I will redo everything properly later. This is just for est. tax calculation purposes due now.)    In a different way, every November, I actually use estimated amounts in the 2024 software and just change grand totals to current year, for this purpose to see if we need anymore end of year write offs. It works great as I can compare what may be due vs what we may still want to buy before Dec. 31st.   These same estimated income numbers are just about identical when I do this in Jan in the new software after it's released, for the correct tax year. ( I usually come out ahead b/c things like standard deduction go up or I found new tax write offs before end of year.)    THIS TIME... Everything looks completely in order except ONE line... Self Employment Tax due, on 2025 version shows $3000 more due than the 2024 version even though I have less income entered in 2025, and more deductions in 2025.    Is this ONLY because the software isn't ready? My understanding is not much on tax law changed and our income bracket for sure didn't change.   Just want to make sure I'm not sending $3000 extra to federal that I don't owe. 🙂 (Otherwise, we would have broken even with no tax due.) That's why this question matters to me today and I can't really wait til TT updates software in Feb.   I realize it may sound like a weird way to use the software, but it's been so helpful in tax planning vs write offs for us. 🙂               
Where do I report the net proceeds for a secondary home sold in 2025?
I don't understand what amount goes in the box
How can I see my TurboTax  fees?  https://ttlc.intuit.com/turbotax-support/en-us/help-article/intuit-account-billing/review-fees-turbotax-online/L1XnIzgzg_US_en_US?uid=m682vq7k   If your TurboT... See more...
How can I see my TurboTax  fees?  https://ttlc.intuit.com/turbotax-support/en-us/help-article/intuit-account-billing/review-fees-turbotax-online/L1XnIzgzg_US_en_US?uid=m682vq7k   If your TurboTax fees are higher than expected, you can reduce them by removing add-ons     (BEFORE you e-file) :   Remove Premium Services Remove MAX Defend & Restore Remove a state Remove PLUS Help & Support Remove Pay With Your Refund     By "....my return should be more.."   do you mean you think your refund should be more? We cannot see your screen, your return or your account.  Have you entered ALL of your 2025 information?  All your income, etc.?  Many tax documents that you need do not arrive until late January or even February, so maybe you do not have it all there yet.   There are a lot of variables that affect your refund or tax due including how much you earned, how much tax you had withheld, your filing status, the number of dependents you claim, your deductions and credits, etc.  You may have lost Earned Income Credit or the Child Tax Credit— did a child turn 17?  If you received the EIC last year, remember that changes in the amount you earn have a big effect on the amount of EIC you can get. (Sometimes earning more money means less EIC)  Are you 65 or older ?  If so, your standard deduction is higher. Everyone has a higher standard deduction now so it is harder to use itemized deductions.   And of course, always check your own data entries, looking for errors such as misplaced decimals or extra zeros.   https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/refund-go-compared-last-year/L97JmhUbi_US_en_US?uid=ld9ijm41   Print out 2024  and 2025  and compare them side by side to see what is different.    https://turbotax.intuit.com/tax-tips/tax-payments/video-why-would-i-owe-federal-taxes/L3VXudPiN  
  You have to access your own account and/or  print it for yourself using exactly the same account and user ID that you used when you prepared the return.    https://myturbotax.intuit.com/   ... See more...
  You have to access your own account and/or  print it for yourself using exactly the same account and user ID that you used when you prepared the return.    https://myturbotax.intuit.com/   Start a 2025 return online and enter some personal information  so that the menu on the left opens up and lets you access your past year returns.   https://ttlc.intuit.com/community/prior-year-return/help/how-do-i-access-my-prior-year-return/01/27010     https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US?uid=m5y4ch1y   Many people have multiple TT accounts and forget how to access them.  Log out of the account you are in now.     https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/many-intuit-accounts-turbotax/L9aVfKS1Z_US_en_US?uid=ll5g6zcx Account Recovery     Or did you use the desktop version of TurboTax?  If so, the files are on your own hard drive or any backup device you used like a flash drive.     https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/find-last-year-tax-data-file-tax-file-computer/L0XJvPaJr_US_en_US   https://ttlc.intuit.com/turbotax-support/en-us/help-article/data-systems/find-tax-data-file-mac/L4VNGm33S_US_en_US?uid=m6guhab0   You can get a free transcript from the IRS or for a fee of $30, an actual copy of your tax return. https://www.irs.gov/individuals/get-transcript https://www.irs.gov/pub/irs-pdf/f4506.pdf       SAVE YOUR TAX RETURNS ! EVERY year before mid-October you should save a copy of your tax return as a pdf and print a copy of it for your records.  That way you will not be searching online frantically when you need it for a lender, FAFSA forms, your next tax return, etc.    https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US?uid=m6guj526   https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US?uid=m78eb8pc In order to transfer a past year return to the new return you need the tax file   https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-turbotax-online-return-tax-data-file/L4xwOG3LF_US_en_US?uid=m6guk3xl   NOTE:  TurboTax and the IRS save returns for seven years.  Returns older than seven years are purged.        
  You have to access your own account and/or  print it for yourself using exactly the same account and user ID that you used when you prepared the return.    https://myturbotax.intuit.com/   ... See more...
  You have to access your own account and/or  print it for yourself using exactly the same account and user ID that you used when you prepared the return.    https://myturbotax.intuit.com/   Start a 2025 return online and enter some personal information  so that the menu on the left opens up and lets you access your past year returns.   https://ttlc.intuit.com/community/prior-year-return/help/how-do-i-access-my-prior-year-return/01/27010     https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US?uid=m5y4ch1y   Many people have multiple TT accounts and forget how to access them.  Log out of the account you are in now.     https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/many-intuit-accounts-turbotax/L9aVfKS1Z_US_en_US?uid=ll5g6zcx Account Recovery     Or did you use the desktop version of TurboTax?  If so, the files are on your own hard drive or any backup device you used like a flash drive.     https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/find-last-year-tax-data-file-tax-file-computer/L0XJvPaJr_US_en_US   https://ttlc.intuit.com/turbotax-support/en-us/help-article/data-systems/find-tax-data-file-mac/L4VNGm33S_US_en_US?uid=m6guhab0   You can get a free transcript from the IRS or for a fee of $30, an actual copy of your tax return. https://www.irs.gov/individuals/get-transcript https://www.irs.gov/pub/irs-pdf/f4506.pdf       SAVE YOUR TAX RETURNS ! EVERY year before mid-October you should save a copy of your tax return as a pdf and print a copy of it for your records.  That way you will not be searching online frantically when you need it for a lender, FAFSA forms, your next tax return, etc.    https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US?uid=m6guj526   https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US?uid=m78eb8pc In order to transfer a past year return to the new return you need the tax file   https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-turbotax-online-return-tax-data-file/L4xwOG3LF_US_en_US?uid=m6guk3xl   NOTE:  TurboTax and the IRS save returns for seven years.  Returns older than seven years are purged.        
If you have self-employment income for which you will pay self-employment tax for Social Security and Medicare,  you will need to use online Premium software or any version of the desktop software do... See more...
If you have self-employment income for which you will pay self-employment tax for Social Security and Medicare,  you will need to use online Premium software or any version of the desktop software download so that you can prepare a Schedule C for your business expenses.     https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/26653   https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922   https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/enter-self-employment-business-expenses-like-home/L1k6HJY4A_US_en_US?uid=m6jrthmp     If you live in a state with a state income tax, you might need to make estimated payments to your state.   https://turbotax.intuit.com/tax-tips/small-business-taxes/the-home-office-deduction/L1RZyYxzv https://ttlc.intuit.com/turbotax-support/en-us/help-article/estimated-taxes/make-estimated-tax-payments/L5svMESaC_US_en_US?uid=mdna5aoh     https://turbotax.intuit.com/tax-tools/calculators/self-employed/   https://ttlc.intuit.com/community/business-taxes/discussion/self-employed-don-t-miss-these-tax-moves/00/3400413     https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/enter-schedule-c/L5Fz3j5us_US_en_US?uid=m6a6gknk   https://ttlc.intuit.com/turbotax-support/en-us/help-article/payroll-additions-deductions/qualify-qualified-business-income-deduction/L0rM2cIIQ_US_en_US?uid=m5zpoxad   https://ttlc.intuit.com/turbotax-support/en-us/help-article/self-employment-taxes/self-employed-expenses-deduct/L37ZS1B8T_US_en_US?uid=m6fntpg7
I was having the same issue (on Mac Sequoia) with importing 2024 into 2025 desktop (Home and Business). The restart of 2025 then allowed importing the information from 2024. Simple, yet inexplicable 🙂
Yeah, mine will be ready on the 16th. I know what they will be, so I was just going to enter them in advance and change later if there were any differences, but the software doesn't even let you into... See more...
Yeah, mine will be ready on the 16th. I know what they will be, so I was just going to enter them in advance and change later if there were any differences, but the software doesn't even let you into the 1099R section.
If you need to prepare returns for a partnership you will need TurboTax Business.   TT Business download only runs on Windows or you can use the much more expensive online "Live" assisted or full-ser... See more...
If you need to prepare returns for a partnership you will need TurboTax Business.   TT Business download only runs on Windows or you can use the much more expensive online "Live" assisted or full-service TurboTax Business programs.   https://turbotax.intuit.com/small-business-taxes/cd-download/     ONLINE TT BUSINESS LIVE ASSISTED OR FULL SERVICE https://turbotax.intuit.com/small-business-taxes/  
Did you e-file your tax return and was it accepted? Only the IRS and your State control when and if a Federal or State tax refund is Approved and Issued.   You complete your tax return by finish... See more...
Did you e-file your tax return and was it accepted? Only the IRS and your State control when and if a Federal or State tax refund is Approved and Issued.   You complete your tax return by finishing all 3 Steps in the File section. In Step 3, to e-file your tax return, you must click on the large button labeled "Transmit my returns now".   After completing the File section and e-filing your tax return you will receive two emails from TurboTax. The first email when your tax return was transmitted and the second email when the tax return has either been accepted or rejected.   Note - Once a tax return has been Accepted by the IRS or a State, TurboTax receives no further information concerning the tax return or the status of any tax refund.  Only the taxpayer listed on the tax return can obtain the status of a tax refund or a tax return.   To check the status of an e-filed return, open up your desktop product or log into your TurboTax Online Account. You can find your status within the TurboTax product. If accepted by the IRS use the federal tax refund website to check the refund status - https://www.irs.gov/refunds If accepted by the state use this TurboTax support FAQ to check the state tax refund status - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_...   After the tax return has been Accepted by the IRS (meaning only that they received the return) it will be in the Processing mode until the tax refund has been Approved and then an Issue Date will be available on the IRS website.   Call the IRS: 1-800-829-1040 hours 7 AM - 7 PM local time Monday-Friday
Yes. Assuming you are reporting your rental income/expenses on SCH E as a part of your personal 1040 tax return,  you'll include form 4684 in your filing. Note that on that form you'll fill out SECTI... See more...
Yes. Assuming you are reporting your rental income/expenses on SCH E as a part of your personal 1040 tax return,  you'll include form 4684 in your filing. Note that on that form you'll fill out SECTION B, and not section A.  
We plan to file federal taxes Married filing jointly. This year, we lived in MA and OH but have different times in each state. I lived in MA from Jan - Sept with 2 dependents. Husband lived with me i... See more...
We plan to file federal taxes Married filing jointly. This year, we lived in MA and OH but have different times in each state. I lived in MA from Jan - Sept with 2 dependents. Husband lived with me in MA from Jan to March. Husband then moved to Ohio in April while the dependents still lived with me in MA. I moved to Ohio in October with the 2 dependents. We also now have rental income from MA (while having W-2s in Ohio).  My understanding is that for MA we should be Married filing separately, even if we do federal married filing jointly, as we lived in MA for different periods of time. And that 1 person (probably me) should claim the dependents for MA. For Ohio, we should be filing married filing jointly, even though we lived in OH for different time periods?    1. Is my understanding of MFJ vs MFS correct for each state?  2. Will Turbotax be able to help us file these state taxes, particularly MA state tax, given the difference in time periods lived in each state? 
paid  good money  for  good software    !!!! why  not is it  not  carring over
See answer above re: income not yet entered. Problem solved.  
Whew.  We should have thought of that earlier.   The 1099R won’t be ready until Jan 21.
Good catch! No W-2, but several 1099Rs which the software says "available soon" and doesn't process them. So I hadn't entered any other income. I went back and entered the SS 1099SM forms to get some... See more...
Good catch! No W-2, but several 1099Rs which the software says "available soon" and doesn't process them. So I hadn't entered any other income. I went back and entered the SS 1099SM forms to get some income in and re-entered the sales tax info and it now appears to be correct. Thanks.
See this TurboTax support FAQ for information concerning a license code - https://ttlc.intuit.com/turbotax-support/en-us/help-article/product-system-requirements/find-license-code/L4GHDgGpr_US_en_US
This happens to me as well.  I first tried it from an Amazon download, and then directly from theTurbotax website. Can't get any help from Turbotax.  I've been using this software for at least 20 yea... See more...
This happens to me as well.  I first tried it from an Amazon download, and then directly from theTurbotax website. Can't get any help from Turbotax.  I've been using this software for at least 20 years, and have never had a problem like this.  Are they asleep at the switch