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yesterday
if these are 1256 contracts, there is a separate section in the investment section to enter these. enter in the wrong section and you can expect the IRS to send you a mismatch notice requiring you to...
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if these are 1256 contracts, there is a separate section in the investment section to enter these. enter in the wrong section and you can expect the IRS to send you a mismatch notice requiring you to amend
yesterday
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yesterday
It depends. Most importantly you should review last year's return for any possible carryover losses. Look for capital loss carryovers (Schedule D worksheet), or qualified business income (QBI) losses...
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It depends. Most importantly you should review last year's return for any possible carryover losses. Look for capital loss carryovers (Schedule D worksheet), or qualified business income (QBI) losses (Form 8995) or possible passive activity losses (PALs) on Form 8582.
Always compare and prepare to enter your loss carryovers when and if you have them.
yesterday
how do i find the "payments and withholdings" for a 1099-G
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yesterday
How do I enter retirement pension income from a 1099-R?
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yesterday
How do I address this?
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yesterday
Followed instruction, add investment, 1099B, enter manually, not land, fewer that 4 transactions but according to help instructions somewhere it's supposed to ask me if it's for futures contracts.
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yesterday
Please use the link below to contact us regarding your questions.
How do I contact TurboTax?
yesterday
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yesterday
You put it nowhere. It's automatic based on your birthdate. It appears on Schedule 1-A, line 37, which carries to line 13b of the 1040. There is a phase-out if your income is too high, as computed on...
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You put it nowhere. It's automatic based on your birthdate. It appears on Schedule 1-A, line 37, which carries to line 13b of the 1040. There is a phase-out if your income is too high, as computed on the schedule.
yesterday
There is not a special section or box to check. Just enter your correct information and TurboTax will take it from there. If eligible you will find this on Schedule 1-A Part V and line 13b of your ...
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There is not a special section or box to check. Just enter your correct information and TurboTax will take it from there. If eligible you will find this on Schedule 1-A Part V and line 13b of your form 1040. TurboTax will automatically calculate it based on your date of birth and your income.
For Tax Year 2025 through 2028, seniors may claim an additional deduction of $6,000 per taxpayer over 65. This is NOT a refundable credit. This is a deduction of your income.
If your income is above $75,000 ($150,000 if Married filing jointly) the bonus deduction decreases by $.06 for every dollar over the relevant amount.
This deduction is available whether you itemize or take the standard deduction.
If your filing status is married filing separately you are not eligible for this deduction.
This bonus deduction is ONLY for those who were 65 or older as of December 31, 2025, it does not apply to those who are blind and under 65
yesterday
We have reviewed the diagnostic copy of your return and found Schedule F in the forms of your return. All of the necessary information was recorded, including the name of the farm, the principal crop...
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We have reviewed the diagnostic copy of your return and found Schedule F in the forms of your return. All of the necessary information was recorded, including the name of the farm, the principal crop/activity, 1099-G payments, and related expenses. There was a net loss for the year.
The only significant form errors were on the Schedule C Worksheet (expenses needing descriptions) and a few other miscellaneous forms, including the Vermont Info Worksheet.
If you're still not able to choose Farm Income and Expense under Business >> Farm Income and Expenses >> Update, you may try manually updating TurboTax Desktop. See the instructions here: Manually Update TurboTax for Windows Software.
yesterday
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yesterday
where do I put the 6,000 dollars for people over 65
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yesterday
If you are legally married you cannot file as Single. You can file as Married Filing Jointly or Married Filing Separately.
If you file as Married Filing Separately you do not enter any income or e...
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If you are legally married you cannot file as Single. You can file as Married Filing Jointly or Married Filing Separately.
If you file as Married Filing Separately you do not enter any income or expenses for you spouse on your tax return. No, you do not their healthcare.gov info.
yesterday
Enter these in the deductions and credit section of your return. Once entered, these will populate in the state return when you begin preparing it. Steps to Enter Medical Expenses Open the Fe...
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Enter these in the deductions and credit section of your return. Once entered, these will populate in the state return when you begin preparing it. Steps to Enter Medical Expenses Open the Federal Section: In the top menu, click the Federal tab. Select Deductions & Credits from the sub-menu. Locate Medical Category Scroll down to the Medical category (you may need to click "Show more" to see it). Click Start or Revisit next to Medical Expenses.
yesterday
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yesterday
I was quoting the previous poster who made the comment about realized versus unrealized capital gains. Of course, you would want to net out the realized gains versus any realized losses...the point i...
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I was quoting the previous poster who made the comment about realized versus unrealized capital gains. Of course, you would want to net out the realized gains versus any realized losses...the point is that you report only realized events.
yesterday
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Hen you go to itemized deductions in the medical section enter your medical expenses there. You can only deduct a total of medical expenses greater than 7.5 percent of your AGI. The information will ...
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Hen you go to itemized deductions in the medical section enter your medical expenses there. You can only deduct a total of medical expenses greater than 7.5 percent of your AGI. The information will be transferred to your state return.