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Seems like both experts have different opinions. I am retired and have a W2 with imputed income in Boxes 1,3,5 for a life insurance policy paid for by the company I worked for that is taxable for Federal, Social, and Medicare. Can I use that to make an IRA contribution against. Thanks, Dave

The only reason I can see for displaying amounts with in dollars and cents is because some taxpayers want to see it like that.  I see no reason to enter or display anything but whole dollar amounts.  It is perfectly acceptable to round all amounts and enter as whole dollars, so there are no cents entered or displayed.  In fact, all professional tax software I've ever seen rounds every entry if cents are entered.    

Unfortunately, Massachusetts uses a ratio formula to determine your tax- so you must allocate what income is Massachusetts source income.  Your total income is used to determine the tax then the percentage of Mass income is taxed.  The only way I could think to make it easier would be to enter the summary amounts so there would not be so many transactions.  See  Entering 1099-B Summary #'s.   If you're a nonresident of Massachusetts, you must file a Massachusetts Income Tax Return if you received Massachusetts source income in excess of your personal exemption multiplied by the ratio of your Massachusetts source income to your total income, or your gross income was more than $8,000 – whether received from sources inside or outside Massachusetts.  Personal Income Tax for Nonresidents

Because you are taking the Standard Deduction, your Qualified Charitable Distributions (QCDs) are not entered in the "Deductions & Credits" section where you normally enter donations (it is an exclusion from income).   Enter 1099-R (with QCD): Open or continue your return. Under Federal tab, Click on Wages & Income. Scroll down to Retirement Plans and Social Security, Click on IRA, 401(k), Pension Plan Withdrawals (1099-R). Enter your 1099-R exactly as it appears.  Be sure the IRA/SEP/SIMPLE box is checked.  Be sure that  Box 7 has a code 7 (Normal Distribution) or 4 (Death/Inherited). Click Continue and proceed through the follow-up questions. **Do not click through these too fast. Look for "Do any of these situations apply to you?" (or "Uncommon Situations"), and Check the box that says "I transferred all or part of this money directly to charity." On the next screen... when the program asks "How much of this distribution was transferred directly to a qualified charity?", Enter the amount of your RMD that was a QCD. Verify your entries on your 1040 form (Desktop version) by: Switch to Forms Mode (top right corner). Open Form 1040. Line 4a should show the Total IRA distribution. Line 4b should show the Taxable amount (Total minus QCD)... the letters "QCD" printed next to Line 4b. Verify your entries on your 1040 form (Online version) by: Click on Tax Tools, and then Print Center (bottom left). Click on "Print, save or preview this year's return." Click on Federal 2025 return, and then View or print forms. Line 4a should show the Total IRA distribution. Line 4b should show the Taxable amount (Total minus QCD)... the letters "QCD" printed next to Line 4b.

Q. How do I make sure I'm not taxed on the distribution from the 529 since the 1099-Q is more than the 1098-T? A. Don't enter the 1099-Q.   You will not be taxed if you don't enter the 1099-Q.  If you don't enter the 1099-Q, TurboTax (TT) won't know that you got a distribution. So, there is no dollar amount for TT to calculate tax on.   If you do enter the 1099-Q, TT will theoretically calculate that nothing is taxable. But, when it does TurboTax will enter nothing about the 1099-Q on the actual tax forms. But the interview is complicated and mistakes are frequent. This forum is flooded with complaints that TT is incorrectly calculating tax on qualified distributions.  ________________________________________________________________________________________________ The 1099-Q is  only an informational document. The numbers on it are not required to be entered onto your (or your student's) tax return. The interview is complicated and it's easy to make mistakes. Avoid it if you can and you probably can.  You can just not report the 1099-Q, at all, if your student-beneficiary has sufficient educational expenses, including room & board (even if he lives at home) to cover the distribution. When the box 1 amount on form 1099-Q is fully covered by expenses, TurboTax will enter nothing about the 1099-Q on the actual tax forms. But, it will prepare a 1099-Q worksheet for your records (you don’t need it). You would still have to do the math to see if there were enough expenses left over for you to claim the tuition credit. You also cannot count expenses that were paid by tax free scholarships. References: On form 1099-Q, instructions to the recipient reads: "Nontaxable distributions from CESAs and QTPs are not required to be reported on your income tax return. You must determine the taxability of any distribution."  IRS Pub 970 states: “Generally, distributions are tax free if they aren't more than the beneficiary's AQEE for the year. Don't report tax-free distributions (including qualifying rollovers) on your tax return”. "IRS Publication 970, Tax Benefits for Education states: If the entire 1099-Q went to qualified expenses, room and board, tuition, etc; then, you do not need to enter the form."   

Some states are fairly quick with refunds, while other states can take a long time processing returns--even several weeks--as they crack down on detecting fraudulent returns.     Here are some things you should check:   First, you need to be sure your state return was successfully filed.   If you efiled, be sure your efiled state return was accepted.  If you used Online TurboTax, you can check by looking at the Tax Home in your Online account.   Or did you choose to file by mail instead?  TurboTax does not mail it for you.  If you chose that method, you have to print, sign, date, and mail it.   The FAQ below tells how to check on a state refund.   When you scroll down further there, you will see a link for your state.   FAQ:  How do I track my state refund? https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_...

To apply the $200/$400 NYS Volunteer Firefighter/Ambulance Worker credit (Form IT-245) in TurboTax,  you can use the steps listed below.   If you  are using TurboTax Desktop: Go to your New York state return section by clicking on the State Taxes tab,  Continue on screen that says Let's work on your state tax return Your screen will say Take a look at New York Credits and other taxes Under the section You and Your Family Click on Start next to the line Active Volunteer Firefighter or Ambulance Worker Your screen will say Volunteer Firefighters' and Ambulance Workers Credit Click on the box that shows you are an Active volunteer Click on Continue Your screen will say Where you volunteered Enter your Company and address Click on Continue Your screen will say Your Volunteer Tax Credit and show the amount If you are using TurboTax Online: Continue your return Click on Tax Home in your left panel of your TurboTax screen Click on State Taxes Your screen will say Your 2025 New York Return click on Continue Your screen will say You Just Finished Your New York Return Scroll down to Credits and Other Taxes and click Start Under You & Your Family Scroll down to Active Volunteer Firefighter or Ambulance Worker Click on Start Your screen will say Volunteer Firefighters' and Ambulance Workers' Credit Click on Yes Your screen will say Where you volunteered Enter your company name and address Click on Continue Your screen will say Your Volunteer Tax Credit and show the amount   Please return to Community if you have any additional information or questions and we would be happy to help.  

You are considered self-employed and will complete Schedule C, which is how you report your self-employment income. The good news is that you can deduct ordinary expenses that you incurred by making this income.  Follow the steps below to enter your income.   Open TurboTax Select Wages & Income Select Self-Employment TurboTax will guide you through interview screens to help you enter your income and expenses. For more information, refer to the TurboTax article What Is a Schedule C IRS form?   For additional information, review the TurboTax help articles:  What self-employed expenses can I deduct?  and How do I report income from self-employment?   You will ‌also be subject to self-employment taxes. Self-employment taxes and deduction are calculated on Schedule SE.  For additional information, please see the TurboTax article Self-Employed Federal Income Taxes.

You tried to enter the 6 digit PIN in the wrong place.   If you have a 6 digit PIN issued to you by the IRS you need to enter it in order to e-file.    Go to Federal>Other Tax Situations>Other Return Info>Identity Protection PIN and enter the six-digit PIN.    

I   I agree with you response but how do I do this within Turbo Tax?  I already told TT that I was in MA for 8 months and in RI for 4 months.  However in the MA filing it simply shows my full capital gains and a box to say if this is out of state or not.  If I check the box that it is out of state, I get no capital gains for MA and a refund, if I do not check the box, I get hit 100% in MA for capital gains and owe the state.  Please clarify.  Thank you.