All Posts
8 hours ago
I am a bit confused by the wording regarding the Neighborhood Assistance Act tax credit. Is this credit only for the professions listed in Turbo Tax (vets, doctors, etc.). I donated money to a 501(...
See more...
I am a bit confused by the wording regarding the Neighborhood Assistance Act tax credit. Is this credit only for the professions listed in Turbo Tax (vets, doctors, etc.). I donated money to a 501(c)(3) charity that provides money for low-income individuals to play community sports. Does this count? Does the charity need to have filed any other additional paperwork?
8 hours ago
Box 5 line A where?
What's in boxes 1 and 5 on the 1098-T?
Does box 5 include any of the employer reimbursement. Some schools include, some don't.
How much was the employer reimbursement? How ...
See more...
Box 5 line A where?
What's in boxes 1 and 5 on the 1098-T?
Does box 5 include any of the employer reimbursement. Some schools include, some don't.
How much was the employer reimbursement? How much was included on the W-2
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.
In the TT interview, when asked how much employer reimbursement you got, yo usually enter only the tax free part (usually $5250). But, you may also need to adjust box 5 of the 1098-T, when you enter it.
9 hours ago
Topics:
9 hours ago
Topics:
9 hours ago
Hello, I am dual citizen of US and my current foreign country of residence. The money I withdraw from my US based IRA or 401K is considered US source income from US point of view, even if I currentl...
See more...
Hello, I am dual citizen of US and my current foreign country of residence. The money I withdraw from my US based IRA or 401K is considered US source income from US point of view, even if I currently live abroad correct? So i cannot deduct any tax I pay to the foreign country for this, from my US tax yes (such as by form 1116)? The foreign country I am at, is saying they have the right to tax this, but even if they do they need to allow what I paid to the US to be deducted from what I owe to them right? Otherwise it will be double taxation for me, since US is already considering it is US source (I couldn't even use Form 1116 to deduct what i pay here from US tax) or may be I CAN deduct it from US by using another US form (consdiering international stuff treaties etc)?
Topics:
10 hours ago
Your employer has options. So you need to find out what it's going to do. Some would leave you short in NY withholding.
10 hours ago
Thanks again for the reply CesarJ, so ill be using the link, for Philadelphia local tax return as a non-resident worker, and not the turbo tax online anymore..
10 hours ago
The IRS has some safe harbor rules. Meet any one of them, and there will be no federal underestimation of tax penalties.
There will be no 2026 federal penalties for not prepaying enough taxes durin...
See more...
The IRS has some safe harbor rules. Meet any one of them, and there will be no federal underestimation of tax penalties.
There will be no 2026 federal penalties for not prepaying enough taxes during the year if withholding and
timely estimated tax payments equal or exceed 90% of your 2026 tax or
timely estimated tax payments equal or exceed 100% of your 2025 tax (110% if your 2025 adjusted gross income was more than $150K) or
the balance due after subtracting taxes withheld from 90% of your 2026 tax is less than $1,000 or
your total taxes are less than $1,000
The second one is the easiest to meet because if you complete your 2025 taxes by around the end of March,
you'll know what must be paid in - 1/4 of the required amount each period, which generally have due dates of 4/15, 6/15,9/15 and 1/15 of the following year. If you have any control over your withholding, you may be able to increase it later in the year to make up for any deficiency. The IRS rules state that you can deem 1/4 of your annual withholding to be withheld each period. However, estimated tax payments only count for that period if paid on or before the due date.
state laws differ
10 hours ago
Topics:
10 hours ago
Topics:
10 hours ago
Topics:
10 hours ago
Hi everyone, seeking for tax advice. I recently received two W-2s (one for CA and one for NY), but in reality I should only receive a NY W-2. The CA represents one of the months only, the rest of the...
See more...
Hi everyone, seeking for tax advice. I recently received two W-2s (one for CA and one for NY), but in reality I should only receive a NY W-2. The CA represents one of the months only, the rest of the months in the year are part of my NY W-2. My employer made a mistake thinking I still had my address in CA, but I was already in NY that month. I have requested for a new W-2 where it's just new york. When I checked my CA W-2, my state income tax was barely anything. And my NY w-2 also had the entire amount I've earned for the year. I'm assuming this means that I was taxed both for CA and NY at that time. Now that the tax payment deadline is approaching, I'm wondering if there's any tax payments I need to make. From my understanding, since NY taxes were already paid for that one month I received a CA W-2, then I should not need to pay any taxes but I'd like to make sure.
Topics:
11 hours ago
@ ttmoe421 wrote: "How do I find PIN number in..." Your question was cut short, so we don't know all the info. What kind of PIN? There are at least 2 different kinds. When signing your re...
See more...
@ ttmoe421 wrote: "How do I find PIN number in..." Your question was cut short, so we don't know all the info. What kind of PIN? There are at least 2 different kinds. When signing your return in the FILE section, you will be asked to enter a signing PIN, which is a 5-digit PIN where you select any 5 digits (except can't be all zeros.) That PIN is entered on a screen with today's date and your birth date. Or are you asking about an IP PIN (Identity Protection PIN), which is a 6-digit PIN provided by the IRS to victims of ID theft, or to those who elect to opt-in to the IP PIN program? If you are asking about how to enter an IP PIN, here's where to enter that 6-digit PIN: Federal > Other Tax Situations > Other Return Info > Identity Protection PIN Or are you asking how to retrieve a 6-digit IP PIN from the IRS website? NOTE: If you are referring to a 6-digit IP PIN, be sure you have your new one for 2026 that you are to use this calendar year. The old one from 2025 won't work. We may have additional comment, but we don't yet know which type of PIN you are referring to.
11 hours ago
@yfguan9814 can you provide a link as a reference to why you beleive that to be the case? https://www.irs.gov/pub/irs-pdf/i8960.pdf page 17: Enter on Form 8960, line 9a, interest expense...
See more...
@yfguan9814 can you provide a link as a reference to why you beleive that to be the case? https://www.irs.gov/pub/irs-pdf/i8960.pdf page 17: Enter on Form 8960, line 9a, interest expense you paid or accrued during the tax year deducted on Schedule A (Form 1040). if you weren't able to deduct it on Sch A (because you took the standard deduction), then TT is correct.
11 hours ago
We can tell you how to view/print/save your completed return, but the method varies according to whether or not you have already filed your return and if using a paid edition, whether you have alread...
See more...
We can tell you how to view/print/save your completed return, but the method varies according to whether or not you have already filed your return and if using a paid edition, whether you have already paid or not. It also depends on whether or not you want to include all the worksheets. If you haven't yet paid, you can only preview the Form 1040 and Schedules 1-3 while in your return. We can tell you how. Or you can pay for your online product in advance to have full viewing and printing privileges. If you've already paid, we can tell you how to get various PDFs. When you provide the additional information, we can tell you what you'll need to do to print/view/save a copy.
11 hours ago
Topics:
11 hours ago
@DaveF1006 I have the same situation, married with a nonresident alien spouse and qualify to file as HOH. I put in a fake ITIN [like 999 88 9999 (restored) ] i get from here https://ttlc.intuit.com/t...
See more...
@DaveF1006 I have the same situation, married with a nonresident alien spouse and qualify to file as HOH. I put in a fake ITIN [like 999 88 9999 (restored) ] i get from here https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-credits-deductions/[product key removed]e-nonresident-alien/L4AuRKrMd_US_en_US]), and planning to file by mail. But in the printout forms, I did not see anywhere that has the fake ITIN number. I wonder would using a fake ITIN allows me to e-file, and the IRS would receive the same forms as my printout version? What blocked me from trying is that if the e-file succeeded, I want want IRS accusing me for providing fake ITIN.
11 hours ago
Topics: