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12m ago
You report the sale of a vacation home as an investment sale, under "Stocks, Cryptocurrency, Mutual Funds, Bonds, Other." On the screen that says "OK, let's start with one investment type," click "Ot...
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You report the sale of a vacation home as an investment sale, under "Stocks, Cryptocurrency, Mutual Funds, Bonds, Other." On the screen that says "OK, let's start with one investment type," click "Other (land, second home, personal items)."
13m ago
The IRS requests that you send in the red copies as opposed to the recipient copies. You can secure the blank forms online for free from the IRS by using this link.
14m ago
How do you show the step up in basis other than simply writing the stepped up basis amount?
14m ago
If you reside in a no state income tax state and you itemize deductions, you are allowed to deduct calculated state and local sales tax based on income. And the IRS forms allow for entry of non-tax...
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If you reside in a no state income tax state and you itemize deductions, you are allowed to deduct calculated state and local sales tax based on income. And the IRS forms allow for entry of non-taxable income (VA Disability payment, Child Care payment, etc.) in order to increase your total available income - and thus the sales tax calculated based on the increase available income.
14m ago
I've not used the desktop previously and the 2024 information does show up for my 2025 return, so everything seems to be working as expected.
15m ago
When will my state refund come
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16m ago
Federal and state refunds come from completely separate entities. There is no rule as to which one will come in first or how long it will be between their arrival in your account.
TurboTax giv...
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Federal and state refunds come from completely separate entities. There is no rule as to which one will come in first or how long it will be between their arrival in your account.
TurboTax gives you an estimated date for receiving your refund based on a 21 day average from your date of acceptance, but it can take longer. “21 days” is not a promise from TurboTax or the IRS.
First, check your e-file status to see if your return was accepted:
https://turbotax.intuit.com/tax-tools/efile-status-lookup/
Once your federal return has been accepted by the IRS, only the IRS has any control. TurboTax does not receive any updates from the IRS. Your ONLY source of information about your refund now is the IRS.
You need your filing status, your Social Security number and the exact amount (line 35a of your 2025 Form 1040) of your federal refund to track your Federal refund:
https://www.irs.gov/refunds
To track your state refund:
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_US_en_US?uid=lt447ebr
If you chose to have your TurboTax fees deducted from your federal refund, that will take some extra time, while the third party bank handles the refund processing
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/refunds-take-longer-others/L14YlqFrH_US_en_US?uid=lexdr7zh
.
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/irs-refund-taking-longer-21-days/L2vRAJbdU_US_en_US?uid=lexe7lst
If you are getting earned income credit on line 27 or additional child tax credit on line 28 You are subject to the delay required by the PATH act. Do not expect your refund before early March
https://ttlc.intuit.com/turbotax-support/en-us/help-article/internal-revenue-service/federal-refunds-delayed-due-path-act/L5jnQJsBi_US_en_US
Note: “Accepted” is not the same as “approved”. TurboTax tells you the e-file was accepted if the IRS deems that there is enough information on the return for them to take it in for processing. Only the IRS can approve of the refund, which is a later stage of processing. If the IRS approves your refund they will provide a date for the refund to be issued.
FROM THE IRS WHERE’S MY REFUND SITE:
https://www.irs.gov/wheres-my-refund
How it works
Where's My Refund shows your refund status:
Return Received – We received your return and are processing it.
Refund Approved – We approved your refund and are preparing to issue it by the date shown.
Refund Sent – We sent the refund to your bank or to you in the mail. It may take 5 days for it to show in your bank account or several weeks for your check to arrive in the mail.
16m ago
Yes, my desktop license code did work for TurboTax Online
17m ago
I called turbo tax and then they said call IRS it's said call them all they can tell me is my status is pending. Off of 1 simple mistake everything is in limbo. I even tried to contact bank that did t...
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I called turbo tax and then they said call IRS it's said call them all they can tell me is my status is pending. Off of 1 simple mistake everything is in limbo. I even tried to contact bank that did the early tax refund transfer no one can give me answers. I didn't sign up for all this trouble. I just wanted to get my taxes done.
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18m ago
Yes, I agree. In searching deeper, § 10-207(c) (U.S. Government obligation interest), Maryland follows a "specific attribution" rule rather than a simple pro-rata (percentage-based) split. This condi...
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Yes, I agree. In searching deeper, § 10-207(c) (U.S. Government obligation interest), Maryland follows a "specific attribution" rule rather than a simple pro-rata (percentage-based) split. This condideration is in addtion to Maryland Tax-General § 10-220(a). This means:
You subtract the interest you received while you were a Maryland resident.
You do not subtract interest received while you were a resident of another state, because that income shouldn't be in your Maryland "base" to begin with.
If your U.S. bond interest was earned evenly throughout the year, it looks like pro-rata. If you cashed a bond specifically while living in Maryland, 100% of that specific gain is attributed to Maryland and subtracted.
Was this earned evenly through the year and credited to your account, or did you cash it out during the year? If you cashed it, what date?
18m ago
Thank you for leading me to the solution! I see now that the extra amount that TurboTax added to the sum of my out-of-pocket medical expenses was the amount I need to pay back because I got too much...
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Thank you for leading me to the solution! I see now that the extra amount that TurboTax added to the sum of my out-of-pocket medical expenses was the amount I need to pay back because I got too much premium subsidy during the year PLUS the difference between columns A and C on my 1095-A. That's helpful that the premium subsidy payback amount is considered a medical expense for itemizing deductions and is automatically added - I just couldn't tell what was going on behind the scenes because TurboTax doesn't show or explain that (at least not that I could see). In any case, thanks again! I'll make a note of this for future years.
18m ago
Because there is no single, nationwide rule that defines a trust’s “residence” for tax purposes. TurboTax Business defaults to the residency of the trustee to determine what state income tax return i...
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Because there is no single, nationwide rule that defines a trust’s “residence” for tax purposes. TurboTax Business defaults to the residency of the trustee to determine what state income tax return is to be filed. Note that you can choose which state to use, as long as you have installed the Fiduciary tax file for that state. Check with your Department of Revenue to confirm where your trust needs to file. See this article for links to State Departments of Revenue.
18m ago
I need to file Form 5329 for a late 2025 RMD distribution from an inherited IRA account. The RMD was taken in January 2026. I did not receive a 1099-R for the account, because no sales had actually o...
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I need to file Form 5329 for a late 2025 RMD distribution from an inherited IRA account. The RMD was taken in January 2026. I did not receive a 1099-R for the account, because no sales had actually occurred in 2025 (again, I took the RMD late in 2026). I've been informed that the late RMD will appear on next years 1099-R, as well as the expected RMD for this year (2026), which is fine. However, I do not know how to attach the required Form 5329 for my 2025 return in TurboTax. Any help?
18m ago
Did your Desktop License Code work in Online? 2025 Migration to Online Offer TurboTax Desktop to Online Migration Offer Terms (Tax Year 2025) The offer is good for 1 federal and state return...
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Did your Desktop License Code work in Online? 2025 Migration to Online Offer TurboTax Desktop to Online Migration Offer Terms (Tax Year 2025) The offer is good for 1 federal and state returns. If you used the Desktop program last year here’s How to transfer into the Online version, expand the blue link if you used the CD/download last year https://ttlc.intuit.com/community/entering-importing/help/how-do-i-transfer-last-year-s-return-into-turbotax-online/00/25953 If you used the Desktop program before you may notice several differences and not like the online version. It has less features and no Forms Mode. You can only do 1 return per account. Your return is only saved online so be sure to save both the .tax2025 data file and the pdf file to your computer when you are done. In case you need to amend in the future or if you need a copy to get a loan or something. You might not be able to access your online return when you need a copy.
19m ago
We had farm that we rented fields out to farmer, thus claimed farm rental. 2024 we got in the CRP program and had planted in pines. Maybe should have switched it to farm owner but did not. Rec...
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We had farm that we rented fields out to farmer, thus claimed farm rental. 2024 we got in the CRP program and had planted in pines. Maybe should have switched it to farm owner but did not. Reconsidering if that was mistake as I do not know what differences carry over from year to year or tax implications. As rental I documented all the costs to plant trees and there is a loss carried forward. I worried I did it wrong and started to amend the return and in doing so it reports cost sharing differently; but in the end (if I did it correctly) it shows no difference in amount I owe state or fed. Any insight to what level it matters and clean way to change it? Is it worth changing 2024 and will it change what imports to 2025? Or just update in 2025?
19m ago
I also had an issue trying to remove WA state return. I tried the suggested When you are in Forms mode click on the File menu at the top left of the desktop program screen. Is there an option to Re...
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I also had an issue trying to remove WA state return. I tried the suggested When you are in Forms mode click on the File menu at the top left of the desktop program screen. Is there an option to Remove state return? and was successful . . . yay! Thank you!
21m ago
Thanks. Managed to work through it, either exactly or closely as suggested; and, yes, no overrides. The program won't let you file; I almost went to a paper file.
22m ago
Wondering if UTMA is considered giftes or inherited.
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23m ago
You will not get the childcare credit until (unless) you enter income earned from working. The credit does not work unless you enter your income first. If you are filing a joint return you must s...
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You will not get the childcare credit until (unless) you enter income earned from working. The credit does not work unless you enter your income first. If you are filing a joint return you must show income for both spouses, or show that one or both of you was a student or disabled. If you have self-employment income and show a loss you will not get the childcare credit. You will not get the credit if you are filing married filing separately.
If you have entered all of your income and you have entered your dependent(s) then work on the childcare credit by entering the Tax ID or Social Security number of your childcare provider and enter the amount you paid for the childcare.
One of the most common mistakes that messes up the childcare credit for people is listing all of the earned income under only one name on a joint return. Make very sure that your incomes are listed under each of your names. It’s pretty easy to check. Go to the Income section, and click “update” on Wages and Salary. That will take you to the W-2 Summary. Do you see income listed under both of your names?
The person receiving the care had to be 12 or under or qualified as mentally or physically disabled. To claim the childcare credit you need to be filing as Head of Household or Married Filing Jointly. (NOT married filing separately)
If your child was born in 2025 make sure you say the child lived with you all year. The credit is a percentage of your expenses based on your AGI (the higher the income, the lower the percentage) You must provide the Social Security number for each child you are claiming, and the Social Security number or Tax ID for each care provider.
In the case of divorced or never-married parents—only the custodial parent can use the childcare credit.
And remember that the childcare credit is a NON-refundable credit. It can reduce your tax owed down to zero, but it is not added to your refund.
https://ttlc.intuit.com/turbotax-support/en-us/help-article/taxation/child-dependent-care-credit/L8h8A5Klg_US_en_US?uid=m5yifys1
23m ago
There isn't a correction window. Form 5329 is used to report additional taxes (penalties) on IRAs, retirement plans, and other tax-favored accounts.
You should go back to to the Retirement sec...
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There isn't a correction window. Form 5329 is used to report additional taxes (penalties) on IRAs, retirement plans, and other tax-favored accounts.
You should go back to to the Retirement section and review the posting of your 1099-Rs. If there was an RMD shortfall, it would have been posted here.
In TurboTax Online
Start at Wages & Income
Scroll to IRA, 401(k), Pension Plan Withdrawals (1099-R) [Add/Edit]
Select the Roth posting
Use the pencil on the right to review and Edit your postings