All Posts

It depends. Are  you self employed?  If so, then this form applies to you. Make sure you don't need it before trying to delete it.   This form relates to the qualified business income deduction (QBID). See the instructions to see if it applies to you. IRS Form 8995 Instructions What is QBID? TurboTax Online: From the left rail menu in TurboTax Online, select Tax Tools (You may have to scroll down on the left rail menu.) Select Tax Tools  On the drop-down select Tools  On the pop-up menu titled “Tools Center”, select View Tax Summary  On the left sidebar, select Preview my 1040  - Scroll to line 13 to see your deduction. Once your return is finished you can print Form 8995 to see the income and calculated deduction.   TurboTax Desktop: Select Forms in the top right Select the Form 1040 - Scroll to line 13 to see  your deduction Select Form 8995 to see the income and the calculated deduction 

It depends. Are  you self employed?  If so, then this form applies to you. Make sure you don't need it before trying to delete it.   This form relates to the qualified business income deduction (QBID). See the instructions to see if it applies to you. IRS Form 8995 Instructions What is QBID? TurboTax Online: From the left rail menu in TurboTax Online, select Tax Tools (You may have to scroll down on the left rail menu.) Select Tax Tools  On the drop-down select Tools  On the pop-up menu titled “Tools Center”, select View Tax Summary  On the left sidebar, select Preview my 1040  - Scroll to line 13 to see your deduction. Once your return is finished you can print Form 8995 to see the income and calculated deduction.   TurboTax Desktop: Select Forms in the top right Select the Form 1040 - Scroll to line 13 to see  your deduction Select Form 8995 to see the income and the calculated deduction 

I tried to expand the form, but box 1 is wages on my 1099 MISC and box 2 Federal Income tax withheld.  On the new 1099 MISC 1 and 2 are rents and royalties????  It similar to a standard W2, but the top indicates Form 1099 MISC????

Choosing Other (not classified) or Other — not listed for your OPERS entry is fine. Box 14 is used for employer-specific details and doesn’t follow standard IRS codes. Picking “Other” here won’t affect your tax return.

I believe you mean you have a Form 1099-K reporting business income and you need to enter additional income you received that was not reported on a Form 1099-K.   If so, when you report the Form 1099-K income, if you designate it as "Self-employment income"  a Schedule C will be populated in TurboTax on which your business income  will be listed. To add additional income, you need to go to the Self-employed section under Wages and Income where you will find the business Schedule C that TurboTax has set up. You can then edit the business entry and in the income section, enter your other income under the category  "General Income, income not reported on another form."    If you mean you sold other personal items that where not reported on a 1099-K form, you don't need to report the sales if you sold the items at a loss, as a loss on sale of personal items is not deductible. If you sold them at a gain, you would enter that as investment sales as follows in TurboTax:   You enter investment sales in the Wages and Income section of TurboTax, then Investment Income, then Stocks, cryptocurrency, Mutual Funds, Bonds, etc... Skip the section where it asks if you want to upload your tax documents. Choose Other as the type of property sold.    

You can add your individual HSA contributions into TurboTax that were not reflected on your W-2 as follows:    Click on Search at the top right of your TurboTax screen Type HSA in the search box Click on the link that says Jump to HSA Follow your TurboTax screens until you see the screen that says screen In the box that says Contributions that XXX made (not through your employer) enter the amount of your personal HSA contributions This should properly record your personal HSA contributions.  Answer all follow-up screens. Click here for What is a health savings account (HSA)?   Click here for Basics of Health Savings Accounts   Please return to Community if you have any additional information or questions and we would be happy to help.

You can take these steps to subtract the nontaxable portion of your Medical Leave from your wages in TurboTax:   Enter W-2: Enter your W-2 exactly as you received it in the Wages & Income section. Navigate to Miscellaneous Income: Go to the Federal tab, then Wages & Income. Find Other Income: Scroll down to Less Common Income and select Start next to Miscellaneous Income, 1099-A, 1099-C. Select Other Reportable Income: Choose Start next to Other reportable income. Enter Negative Amount: Description: "Nontaxable Paid Medical Leave" (or similar). Amount: Enter the nontaxable portion as a negative number (e.g., "-2,000") @TestAdmin