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TurboTax automatically compares your itemized deductions against your standard deduction and selects the higher one. If the software suggests the standard deduction, it means it is providing you with... See more...
TurboTax automatically compares your itemized deductions against your standard deduction and selects the higher one. If the software suggests the standard deduction, it means it is providing you with a higher total deduction and, therefore, a larger potential refund than itemizing.   Some potential reasons why TurboTax is suggesting the standard deduction:   The IRS only allows you to deduct the portion of your medical expenses that exceeds 7.5% of your Adjusted Gross Income (AGI). Even if your total itemized deductions (medical + others) are higher than the standard deduction, the deductible amount of your medical expenses might be less than your standard deduction for your filing status. Your filing status.  If you are Married Filing Separately (MFS), both spouses must either itemize or take the standard deduction. If your spouse takes the standard deduction, you must also. You may have accidentally checked a box in the "Deductions & Credits" section electing to take the standard deduction despite having higher expenses.   To verify: Go to the "Deductions & Credits" section in TurboTax. Review the "Itemized vs. Standard" summary screen. It will show the exact breakdown of how your medical expenses were reduced by 7.5% of your AGI and compare it to the standard deduction.
The 5 digit code is any 5 digits you select when in the process of e-filing your tax return.  It is Not an IRS, TurboTax or Intuit code.  You do have to enter the 2024 AGI from the 2024 federal tax r... See more...
The 5 digit code is any 5 digits you select when in the process of e-filing your tax return.  It is Not an IRS, TurboTax or Intuit code.  You do have to enter the 2024 AGI from the 2024 federal tax return, Form 1040 Line 11 before you can e-fie your tax return.   If you are referring to the 6 digit Identity Protection PIN provided by the IRS for each tax year -   To enter, edit or delete a 6 digit IP PIN Click on Federal Taxes (Personal using Home and Business) Click on Other Tax Situations Scroll down to Other Return Info On Identity Protection PIN, click the start button
We exchanged one timeshare property (100% personal use) for another and got a credit for the entire initial purchase, which was reported on a 1099-S.  I found where to input on TurboTax premium, but ... See more...
We exchanged one timeshare property (100% personal use) for another and got a credit for the entire initial purchase, which was reported on a 1099-S.  I found where to input on TurboTax premium, but do I enter the closing costs for the original property or the second property?    thanks!
  It is possible to have a Penalty, even if you're getting a refund. If your federal tax withholdings  are not equal to 90% of the current year tax, then you may need to complete Form 2210 to deter... See more...
  It is possible to have a Penalty, even if you're getting a refund. If your federal tax withholdings  are not equal to 90% of the current year tax, then you may need to complete Form 2210 to determine if you are required to pay an underpayment penalty.    If you're using TurboTax Desktop, in FORMS, look at Form 2210, which calculates the penalty amount for you, and review the amounts. In TurboTax Online, after you pay for your return, save a PDF copy with 'all forms and worksheets' to review Form 2210.   Form 2210 doesn't need to be filed with your tax return in many cases. It can be used to determine if there is a penalty, and you may be able to delete Form 2210 from your return and have the IRS calculate your penalty and send you a bill if there is one.   Here's more info on Form 2210.   @user17738625355     
Hello community - I have a couple questions about TurboTax's calculation of total medical expenses, regarding both how it's shown in the tool and ultimately on Schedule A.  For tax year 2024, for exa... See more...
Hello community - I have a couple questions about TurboTax's calculation of total medical expenses, regarding both how it's shown in the tool and ultimately on Schedule A.  For tax year 2024, for example, I had $3,220 in total out-of-pocket medical expenses (including premiums and anything else applicable, and excluding anything not applicable).  But - TurboTax input $960 for some reason into Line 1 on Schedule A - that's the line BEFORE lines 2 and 3, which apply the 7.5% rule.  In this case, 7.5% of my income was just over $3,220, so I would not have been able to deduct medical expenses anyway, but it seems to apply some math to the raw number that is supposed to be input into line 1, which (I believe) is incorrect.   In other words, $960 doesn't match any single value, subtotal, or anything else related to my actual medical expenses for 2024. And, for this year (tax year 2025), I have entered $4,200 in out-of-pocket medical expenses and $800 in premiums, which should be a total of $5,000 in medical expenses (independent of and before the 7.5% calculation). I also entered my 1095-A info, and paid no other premiums in 2025 other than the $800 indicated above. But, the deductions and credits summary screen shows MORE than my $5,000 - it shows $5,600.  I can't figure out what the source of the additional $600 is, and am concerned when I go to finalize, it's going to do the simple line entries on Schedule A incorrectly.  All other deductions and credits look exactly correct and match what I entered.  I am wondering if someone can explain whether I should be concerned about this and why TurboTax doesn't seem to deal with medical expenses in a straight-forward manner that can be double-checked by the user like everything else.  Thank you in advance for your input! 
Yes. Please use the link below to contact us regarding your questions. How do I contact TurboTax?  
When and if I enter earnings from donating plasma as misc income, TurboTax enters it as unearned income and it reduces the standard deduction causing my taxes to go up??? Why does it not get entered ... See more...
When and if I enter earnings from donating plasma as misc income, TurboTax enters it as unearned income and it reduces the standard deduction causing my taxes to go up??? Why does it not get entered as earned income? Shouldn't it be earned income??
@user17681516237 wrote: ....is the income to myself from the LLC submitted differently on the Schedule C?  No, it is the same as if the LLC did not exist. A single-member LLC is disregarded f... See more...
@user17681516237 wrote: ....is the income to myself from the LLC submitted differently on the Schedule C?  No, it is the same as if the LLC did not exist. A single-member LLC is disregarded for federal income tax purposes.   If you are confused about the exact structure or choice of entity (e.g., LLC v S corporation) you should seek guidance from a local attorney.
The Doc # on the back of my license will not work.
Yes, you can add another W-2 if you have not filed your tax return.   Click on Federal>Wages & Income>Wages and Salaries (W-2)>Add/Edit
Are you saying that the $5,000 rule applies across donation dates and charities? That is, if the total of my non-cash donations of clothing and household items is more than $5,000, I need to fill out... See more...
Are you saying that the $5,000 rule applies across donation dates and charities? That is, if the total of my non-cash donations of clothing and household items is more than $5,000, I need to fill out Section B of Form 8283, which seems to require an appraisal of the donated property? It never occurred to me to have these low-FMV items appraised, and now, of course, they're gone.
paid 55 dollars at BJ for turbotax and then 278.87 on line. license code was never entered Any ideas?
I have a  K-1 1120-S with only box 1 and  box 17; section 199A code V, section 448(C) code AC and box 17 code AJ .   Not sure if I I put in the correct info for code V there are two numbers? Ordina... See more...
I have a  K-1 1120-S with only box 1 and  box 17; section 199A code V, section 448(C) code AC and box 17 code AJ .   Not sure if I I put in the correct info for code V there are two numbers? Ordinary Income (loss),  or W-2 Wages?    I'm not sure what to put in for code AJ because there are two sets of numbers, Agregate Bus Activity Gross Income or Gain - $61k and Agregate Bus Activity Deductions $60k?   Also form 7203 keeps popping up for me to fix but there is no indication as to what needs to be fixed. I can't get beyond my federal check without fixing 7203.   Please help
Yes.  You should add your overtime wages to take advantage of the Overtime exclusion .  If you signed out, then you can select Income>>edit next to the W-2 you were working on.    If your W-2 has... See more...
Yes.  You should add your overtime wages to take advantage of the Overtime exclusion .  If you signed out, then you can select Income>>edit next to the W-2 you were working on.    If your W-2 has the amount in box 14,  that is the only place you will need to add it. Then when you hit continue, you will be asked a few questions to see if you qualify for the OT exclusion and to make sure that the right amount is being excluded.      If it does not have your OT in box 14, then hit continue and the screen after the W-2 will ask if any of these uncommon situations apply.  Put a checkmark in the box for Overtime.  You will then be asked a few questions to see if you qualify and be given the chance to add your OT.  You can either have TurboTax calculate the amount or you can select that you know the amount.     To qualify the following must apply: You must be a non-exempt employee eligible for Overtime under the federal Fair Labor Standards Act The Overtime must be on hours worked OVER 40 hours.  (if you live in a state where OT pay is required after 8 hours, this does not apply) Overtime must be paid at more than your regular hourly rate.   Your filing status cannot be Married Filing Separately Your income must be less than $150,000 if you are single or $300,000 if Married Filing Jointly.
No can call you from this forum   Please describe your problem or question
Once you get it, see the steps below to enter it on your return:   Open your return Go to IP PIN On the Identity Protection PIN screen, answer Yes. Select Add and enter your IP PIN in th... See more...
Once you get it, see the steps below to enter it on your return:   Open your return Go to IP PIN On the Identity Protection PIN screen, answer Yes. Select Add and enter your IP PIN in the space provided. Select Continue, then select Done. @user17737820630 
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