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yesterday
How can I reach out to TurboTax for refunds?
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yesterday
Federal>Deductions and Credits>Charitable Donations>Donations to Charity
A charitable donation almost never changes your tax due or refund all by itself. First, your donation does not coun...
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Federal>Deductions and Credits>Charitable Donations>Donations to Charity
A charitable donation almost never changes your tax due or refund all by itself. First, your donation does not count "dollar for dollar"--it is calculated by a percentage based on your tax bracket. You need a LOT of other itemized deductions like mortgage interest or property taxes, medical expense, etc. to itemize and exceed your standard deduction.
Your itemized deductions have to be more than your standard deduction before you will see a change in your tax owed or tax refund. The deductions you enter do not necessarily count “dollar for dollar;”—medical expenses, for example, must meet a threshold that is pretty hard to reach. (Only the amount that is MORE than 7.5% of your AGI counts) The software program uses all the IRS rules that apply to the deductions you enter, and it tells you if you have enough to use your itemized deductions or if using the standard deduction is more advantageous for you.
The standard deduction makes some of your income “tax free.” It is not a refund. You will see your standard or itemized deduction amount on line 12e of your Form 1040.
2025 STANDARD DEDUCTION AMOUNTS
SINGLE $15,750 (65 or older/legally blind + $2000)
MARRIED FILING SEPARATELY $15,750 (65 or older/legally blind +1600)
MARRIED FILING JOINTLY $31,500 (65 or older/legally blind + $1600)
HEAD OF HOUSEHOLD $23,625 (65 or older/legally blind + $2000)
yesterday
Click on Tax Tools on the left side of the online program screen. Then click on Print Center. Then click on Print, save or preview this year's return. Choose the option Include government and Turb...
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Click on Tax Tools on the left side of the online program screen. Then click on Print Center. Then click on Print, save or preview this year's return. Choose the option Include government and TurboTax worksheets
yesterday
For a capital loss carryover -
Click on Federal Taxes (Personal using Home and Business) Click on Wages and Income (Personal Income using Home and Business) Click on I'll choose what I work on (i...
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For a capital loss carryover -
Click on Federal Taxes (Personal using Home and Business) Click on Wages and Income (Personal Income using Home and Business) Click on I'll choose what I work on (if shown) Under Investment Income On Capital Loss Carryover, click the start or update button
yesterday
By law your employer can only give you $5250 maximum, tax free. If your tuition was less than that, and you employer reimbursed it all; it’s safe to assume it does not need to be reported. You do no...
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By law your employer can only give you $5250 maximum, tax free. If your tuition was less than that, and you employer reimbursed it all; it’s safe to assume it does not need to be reported. You do not even need to enter your 1098-T. You have nothing to claim*.
If you got more than $5250, the amount above $5250 is usually already included in box 1 of your w-2 and you do not need to enter any additional income on your tax return.
But, since you have paid tax on that part, it is considered your after tax money and that amount can be used to claim the tuition credit. For tax purposes, it’s not really reimbursement, it’s your money.
*If you are an undergrad, technically the book costs qualify for a tuition credit (AOC) equal to the cost of the books. But the American Opportunity Credit (AOC) is limited to being claimed 4 times in your academic career. If there is a possibility, you can use the AOC in the future for 4 bigger credits (up to $2500 each year), you may not want to waste one of your 4 times on a small book credit. You must be a half time or more student to claim the AOC.
yesterday
You have not mentioned why you are working on a U.S. tax return.
If you are a non-resident alien, your return must be filed on Form 1040NR, which cannot be prepared using TurboTax. You ca...
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You have not mentioned why you are working on a U.S. tax return.
If you are a non-resident alien, your return must be filed on Form 1040NR, which cannot be prepared using TurboTax. You can use TT’s partner, sprintax:
https://www.sprintax.com/non-resident-alien-tax-1040nr-turbotax.html
IRS —HOW TO DETERMINE RESIDENCY STATUS FOR TAX
https://www.irs.gov/individuals/international-taxpayers/determining-an-individuals-tax-residency-status#:~:text=If you are not a,January 1 – December 31).
yesterday
How do I review and print my federal and state return
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yesterday
Yes, the annual pension you received is an RMD.
yesterday
Only the custodial parent can claim the childcare credit.
Are you the custodial parent? Do you have an agreement with the other parent to allow the other parent to claim them--due to divor...
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Only the custodial parent can claim the childcare credit.
Are you the custodial parent? Do you have an agreement with the other parent to allow the other parent to claim them--due to divorce or that you live apart and share custody? Did one of you sign a Form 8332?
If there is a signed 8332 then the custodial parent retains the right to file as Head of Household, get earned income credit and the childcare credit. The non-custodial parent gets the child tax credit for children under the age of 17. If the child is 17 or older the non-custodial parent gets the $500 credit for other dependents.
If you and the other parent have a signed agreement, you need to indicate in MY INFO that you have such an agreement.
As far as the IRS is concerned, the custodial parent is the one with whom the child spent the most nights during the tax year--at least 183 nights.
yesterday
When I complete my QCD amounts I still get a yellow box. How do I correct the problem.
yesterday
When entering this Form 1099-R into TurboTax: On the page that asks, "Do any of these situations apply?," mark the box to indicate that you transferred some to charity, then enter $29,000 as th...
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When entering this Form 1099-R into TurboTax: On the page that asks, "Do any of these situations apply?," mark the box to indicate that you transferred some to charity, then enter $29,000 as the amount transferred. Indicate that your required distribution was $87,846 and that $87,846 of the distribution applied to your RMD. Indicate that you moved the money to another retirement account and that you rolled over $29,000. TurboTax will include the entire $116,846 on Form 1040 line 4a, only $58,846 on line 4b, and will mark the Rollover and QCD boxes on line 4c.
yesterday
what is line 3 form 4952 and line 16 on the worksheet
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yesterday
Is the total yearly amount of a government pension a required minimum distribution?
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yesterday
i cant find any location in the software to enter these numbers
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yesterday
To enter estimated tax paid in 2025
Go to Federal>Deductions and Credits>Estimates and Other Taxes Paid>Estimates
yesterday
It's advised to enter all income and expense information in Step-by-Step view in the desktop software, that's how I was able to get it to add back automatically. Then, switch to Forms view for edits ...
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It's advised to enter all income and expense information in Step-by-Step view in the desktop software, that's how I was able to get it to add back automatically. Then, switch to Forms view for edits and detail entries after entering most of your tax return information in Step-by-Step. I'm glad you got everything working in the end!
By the way, no, this is not on our list of investigation issues at all, there isn't a particularly good reason that ChatGPT would respond with that.
yesterday
Year 2021 tax return, looks like it says I didn't pay full tax, but it seems it's linked to PFL benefits received that year.
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yesterday
Whether the income came from your former job or from retirement income is irrelevant. All of your income must be entered; the software will reconcile the amount of income you received and the tax t...
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Whether the income came from your former job or from retirement income is irrelevant. All of your income must be entered; the software will reconcile the amount of income you received and the tax that was withheld to determine if you get a refund or owe more tax. As for saying that you are retired---the only place to indicate that is "occupation" in MY INFO. You can say you are retired in MY INFO if you choose to. The IRS only uses occupation for statistical purposes; it has no effect on your tax due or refund.
yesterday
I sold my shares from work how much do I have to pay for capital gains
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yesterday
Why won't TurboTax let you delete a message to the community?