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11 hours ago
10 days would be pretty quick, but possible. The IRS says most people who efile and choose direct deposit will get their refunds within 21 days. Some will come sooner, some later. There are some t...
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10 days would be pretty quick, but possible. The IRS says most people who efile and choose direct deposit will get their refunds within 21 days. Some will come sooner, some later. There are some things you should check: First, if you efiled, be sure your efiled return was accepted. If using Online TurboTax, you can check at the Tax Home page. Does it show as accepted, rejected, printed, started, ready to mail, or something else? If that showed your return was accepted for processing, you can track your Federal refund at the IRS "Where's My Refund" tool: https://www.irs.gov/refunds The IRS normally uses 3 stages: Return received and is being processed. Refund approved. Refund sent and an expected deposit date. If it is being processed longer than 21 days, you can phone the IRS to see if they can tell you anything about the delay. But it's way too soon to phone at this point. IRS: 800-829-1040 (7AM-7 PM local time) Monday-Friday
11 hours ago
If you are claiming the AOTC, then you may have to do it differently. But the principal is the same: if you know that the 1099-Q is fully covered by expenses, you do not need to enter it. You can s...
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If you are claiming the AOTC, then you may have to do it differently. But the principal is the same: if you know that the 1099-Q is fully covered by expenses, you do not need to enter it. You can still enter the 1098-T to claim the AOTC, but you may have to adjust the numbers.
The 1098-T is also only an informational document. The numbers on it are not required to be entered onto your tax return. However receipt of a 1098-T frequently means you are either eligible for a tuition credit or possibly your student has taxable scholarship income.
If you claim the tuition credit, you do need to report that you got one.
You claim the tuition credit, or report scholarship income, based on your own financial records, not the 1098-T. In the 1098-T screen, click on the link "What if this is not what I paid the school" underneath box 1. You will then be able to enter the net adjusted amounts paid.
Or if you find it easier, just change the numbers in boxes 1& 5 to what your records show. The 1098-T that you enter in TT is not sent to the IRS.
Provide the following info for more specific help:
Are you the student or parent.
Is the student the parent's dependent.
Box 1 of the 1098-T
box 5 of the 1098-T
Any other scholarships not shown in box 5
Does box 5 include any of the 529/ESA plan payments (it should not)
Is any of the Scholarship restricted; i.e. it must be used for tuition
Box 1 of the 1099-Q
Box 2 of the 1099-Q
Who’s name and SS# are on the 1099-Q, parent or student (who’s the “recipient”)?
Room & board paid. If student lives off campus, what is school's R&B on campus charge. If he lives at home, the school’s R&B “allowance for cost of attendance” for student living with parents.
Other qualified expenses not included in box 1 of the 1098-T, e.g. books & computers
How much taxable income does the student have, from what sources
Are you trying to claim the tuition credit (are you eligible)?
Is the student an undergrad or grad student?
Is the student a degree candidate attending school half time or more?
11 hours ago
No, don't do anything with the 1095-C, but you will have to clear the 1095-A out of the system.
If your return is rejected because of the 1095-A: The IRS database may think that you or a member ...
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No, don't do anything with the 1095-C, but you will have to clear the 1095-A out of the system.
If your return is rejected because of the 1095-A: The IRS database may think that you or a member of your household has, or has had a Marketplace policy.
If you have a 1095-C, and no dependents with Marketplace insurance, you can use these steps to clear the 1095-A and the filing error.
Use these steps to clear a 1095-A
Select Tax Tools (This is on the left sidebar)
On the drop-down select Tools
There will be 2 green boxes
Select Topics Search
Type 1095-A
The question will come up Did you receive Form 1095-A for your health insurance plan?
Answer Yes
Continue to the form
Delete it using the trash can
Repeat the process
When you get to Did you receive Form 1095-A for your health insurance plan?
Answer No
11 hours ago
My turbo tax is stuck on file...Please help!
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11 hours ago
1. For tax year 1999, I forgot to file a 8606 for a $2,000 after-tax contribution (no distribution was taken). 2. For tax year 2003, I forgot to enter a 401k total distribution which was compri...
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1. For tax year 1999, I forgot to file a 8606 for a $2,000 after-tax contribution (no distribution was taken). 2. For tax year 2003, I forgot to enter a 401k total distribution which was comprised of 2 different distributions. One distribution was the rollover of pre-tax assets into a traditional IRA that contains only pre-tax assets. The other distribution was a check sent to me for the after-tax assets, which I immediately deposited into a traditional IRA that contains only after-tax assets. Additionally, I forgot to file a 8606. How do I go about fixing this? Do I need to file only the 8606s? Or do I also need to file amended return/s? Or, file some combination of 8606/s and/or amended return/s? Please advise. Many thanks.
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11 hours ago
First, if you efiled, be sure your efiled return was accepted. If using Online TurboTax, you can check at the Tax Home page. If that showed your return was accepted, you can track your Federal ...
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First, if you efiled, be sure your efiled return was accepted. If using Online TurboTax, you can check at the Tax Home page. If that showed your return was accepted, you can track your Federal refund at the IRS "Where's My Refund" tool: https://www.irs.gov/refunds If you filed a paper return by mail, it can take up to 4 weeks just to show up in that tool. f that tool shows your refund is still being processed, then if you efiled, and if it's been longer than the usual 21 days, you can phone the IRS to see if they can tell you anything about the delay. IRS: 800-829-1040 (7AM-7 PM local time) Monday-Friday The FAQ below tells how to check on a state refund. When you scroll down further there, you will see a link for your state. FAQ: How do I track my state refund? https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_...
11 hours ago
Thank you very much.
11 hours ago
1 Cheer
yes Turbotax is relatively expensive especially if you just miss out on the Free version and don't need all the features of the higher versions... but "if I can get it done somewhere else I would" - ...
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yes Turbotax is relatively expensive especially if you just miss out on the Free version and don't need all the features of the higher versions... but "if I can get it done somewhere else I would" - no one is forcing you to use this - there are many other free file options in the market place e.g. FreeTaxUSA https://apps.irs.gov/app/freeFile/browse-all-offers/ as for $40 fee from refund that is an optional service you choose which routes your return through a 3rd party bank - avoid all of these refund gimmicks (5 days early, pay with my refund etc)
11 hours ago
It’s been 10 days my refund still isn’t approved
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11 hours ago
To add a separate 1095-A for a dependent: Be sure the person is listed as a dependent in My Info. Under Federal Select Deductions & Credits Scroll to Medical Select Affordable Care Act (Form...
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To add a separate 1095-A for a dependent: Be sure the person is listed as a dependent in My Info. Under Federal Select Deductions & Credits Scroll to Medical Select Affordable Care Act (Form 1095-A) Enter your own 1095-A first if you have one. If the dependent is the only one with a 1095-A you can post it. In that case you will allocate 0/100 in the allocation portion in step 8. Select "Add a "1095-A" on the summary screen Indicate that the policy is shared and allocate percentages For example 100/0 or 50/50 It must total to 100%.
11 hours ago
@ iamworthy365 wrote: "Can someone help me understand why my return is $544, minus $200 for service fee, but my return is $144. There is $100 missing." If you wrote that correctly, it sounds li...
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@ iamworthy365 wrote: "Can someone help me understand why my return is $544, minus $200 for service fee, but my return is $144. There is $100 missing." If you wrote that correctly, it sounds like $200 would be missing. 544-200-144=200 Is $544 the amount shown on your Federal Form 1040, Line 35a? What amount does the IRS say they sent when you look at "Where's My Refund?" Is it the same figure? https://www.irs.gov/refunds Can the difference be explained by a state refund? If you have a state refund, it comes separately. Check your fees at the Tax Home by scrolling down to "Your Tax Returns & Documents" area and choosing "Order Details." If you paid fees out of your refund, what bank was your direct deposit from, such as SBTPG Tax Products Group, Cross River Bank, etc.? If the IRS lowered your refund amount, you should get a letter in approximately 3 weeks explaining why. Also see if any info in this FAQ is helpful: FAQ: Why's my refund lower than the amount shown in TurboTax? https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/refund-direct-deposit-check-lower-amount-turbotax/L4D3L1d96_US_en_US
11 hours ago
Not ruling out a Turbotax issue but it calculates penalty based on the data you provide, IRS checks your return and recalculates it independently with data it has (e.g. the timing and amount of estim...
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Not ruling out a Turbotax issue but it calculates penalty based on the data you provide, IRS checks your return and recalculates it independently with data it has (e.g. the timing and amount of estimated taxes come from IRS payment history not your return). If there was any adjustment to your 2024 or 2025 taxes not reflected in Turbotax or a difference in estimated taxes input vs. what IRS knows they will get a different result. You can check your transcript and payment history at IRS. Other Tax Situations / Underpayment Penalties is where you can confirm 2024 tax information which affects the safe harbor calculation on Form 2210. If you are on desktop you can see Form 2210 in Forms mode but it's not part of your filing unless you select an exception method.
11 hours ago
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11 hours ago
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11 hours ago
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12 hours ago
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12 hours ago
Can you clarify your situation?
Have you started your tax return?
Are you having a specific problem?
Do you need your return prepared for you?
There would be additional charges.
...
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Can you clarify your situation?
Have you started your tax return?
Are you having a specific problem?
Do you need your return prepared for you?
There would be additional charges.
12 hours ago
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