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yesterday
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yesterday
Thank you! This new form has casued such a headache .
yesterday
You would enter the passive losses for each year.
I believe you are on the screen that says Enter info about passive losses. The first cluster of data is for your regular losses and the bottom ...
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You would enter the passive losses for each year.
I believe you are on the screen that says Enter info about passive losses. The first cluster of data is for your regular losses and the bottom cluster is for QBI losses. You may have had years where your loss was not from qualified business income so that is why you have the two sets of data, though they would likely be the same.
You need to enter the losses by year that make up the total listed on the bottom of the column. If the total at the bottom of the second cluster of data only lists the loss sustained in 2024 but it should include losses from previous years, then your loss carryovers may not be reflected properly in TurboTax. You should see an opportunity to adjust that on the previous screen where is says Passive Losses from prior years. That is where the numbers in the worksheet come from. You can enter on that screen your correct loss carryover amount to the current year, both for regular loss purposes as well as QBI loss purposes.
yesterday
I have been on the phone and on my computer for hours trying to figure this out, so hoping someone else finds this and it helps them. I was on Paid Leave Oregon for the end of 2025 and beginning of 2...
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I have been on the phone and on my computer for hours trying to figure this out, so hoping someone else finds this and it helps them. I was on Paid Leave Oregon for the end of 2025 and beginning of 2026. I received a 1099-MISC from the Oregon Employment Department, and I called to confirm from them that this was the correct form (on Turbo Tax's "expert" request- they thought the state sent me the wrong thing?? sure.). When I went through all the prompts to enter the 1099-Misc, no matter what I did it would turn it into self-employment, adding a schedule C and taxing me at a MUCH higher rate. I half considered entering it as a 1099-G so it would be taxed correctly, but did not want to knowingly do something incorrect... after hours of searching message boards I FINALLY found the issue. Here are the steps: 1. Enter in the 1099-misc info 2. Describe the reason for this 1099-MISC: "Paid Leave Oregon" (or whatever leave/program it is for) 3. Do one of these uncommon situations apply?: Click "None of these apply" 4. Did the Paid Leave Oregon involve work that's like your main job?: Click "No, it didn't involve work like your main job" 5. How often did you get income for Paid Leave Oregon? THIS IS THE IMPORTANT STEP THAT KEPT MESSING ME UP, AND THE ONLY WAY TO GET IT TO TAX PROPERLY. You absolutely MUST only click the box "You got it in 2025." you can't click for 2024 or 2026 (or past/future years, whenever you're reading this). On this page the only year that matters is the year that is listed on the 1099-MISC. If you click anything additional, the system borks up and counts it as Self Employment and brings in a schedule c, which will tax you more. This was an ABSOLUTE NIGHTMARE EXPERIENCE and it is crazy that of the 5 "experts" I spoke with, none of them knew this was a problem. Anyway, hope this helps someone out there!!
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yesterday
If you have enabled Local Network Access and disabled MS Defender, try opening TurboTax in an incognito window. Clear Cache and Cookies between attempts.
Here's more info on Import Says Succes...
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If you have enabled Local Network Access and disabled MS Defender, try opening TurboTax in an incognito window. Clear Cache and Cookies between attempts.
Here's more info on Import Says Successful but No Data.
@mkislik
yesterday
TurboTax doesn't "categorize" the information imported from financial institutions. If what imported from your Wells Fargo is different than what is on the hard copy of your Form it's because that's...
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TurboTax doesn't "categorize" the information imported from financial institutions. If what imported from your Wells Fargo is different than what is on the hard copy of your Form it's because that's what was sent. I recommend you delete the import and enter your Form 1099-Consolidated manually.
yesterday
Please read this IRS document on how to retrieve your IP PIN.
Are you asking where to enter your IP PIN in TurboTax?
In TurboTax Online, open your return
Click on Search (magnifying...
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Please read this IRS document on how to retrieve your IP PIN.
Are you asking where to enter your IP PIN in TurboTax?
In TurboTax Online, open your return
Click on Search (magnifying glass icon) at the top right of your screen
In the Search box, enter IP PIN and click Enter
In the search result box, click on Jump to IP PIN
TurboTax will take you directly to the section where you can start entering your IRS IP PIN.
yesterday
I would report in the cost basis. See this IRS FAQ. A8. Your basis (also known as your “cost basis”) is the amount you spent to acquire the virtual currency, including fees, commissions and othe...
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I would report in the cost basis. See this IRS FAQ. A8. Your basis (also known as your “cost basis”) is the amount you spent to acquire the virtual currency, including fees, commissions and other acquisition costs in U.S. dollars. Your adjusted basis is your basis increased by certain expenditures and decreased by certain deductions or credits in U.S. dollars. For more information on basis, see Publication 551, Basis of Assets. @Max3721
yesterday
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This is so frustrating. It was supposed to be on 2/11 and now says 2/18. It's 4pm MST with the run round again. How is anyone supposed to get their taxes done without getting penalized? I am beyo...
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This is so frustrating. It was supposed to be on 2/11 and now says 2/18. It's 4pm MST with the run round again. How is anyone supposed to get their taxes done without getting penalized? I am beyond upset with this. I have never had these types of issues. Nobody at turbo tax will help and the IRS says it has nothing to do with them because th form was updated in Dec 2025.
yesterday
It depends on whether this is a capital loss carryover or if this is a net operating loss (NOL) carryover.
A capital loss carryover is used against other capital gains each year with an overall...
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It depends on whether this is a capital loss carryover or if this is a net operating loss (NOL) carryover.
A capital loss carryover is used against other capital gains each year with an overall limit of $3,000 loss allowed per year for each year there continues to be an overall loss.
A NOL is an overall income loss, in other words your taxable income for the year if a negative amount. A NOL cannot be carried back, only forward. A new Form has been created for use in determining the allowed loss.
Individuals, estates, and trusts use Form 172 to figure the amount of the NOL that is available for carrying back or forward.
NOL carryback eliminated.
Generally, you can only carry NOLs arising in tax years after 2020 to a later year. An exception applies to certain farming losses, which may be carried back 2 years. See section 172(b) and Pub. 225, Farmer’s Tax Guide.
When a net operating loss (NOL) is initially entered into TurboTax Online or TurboTax Desktop it will be incorporate that into the current tax return once you have completed the NOL worksheet(s). It will also know if any of the NOL was used on your tax return. What TurboTax will not do is to calculate an NOL.
To enter the NOL into your tax return in the carryover year use the steps below:
Open your return > Search (upper right) > Type net operating loss > Click the Jump to... link
Continue to follow the screen prompts to enter your carryover NOL
@cdlvj130
yesterday
Here are steps you can take from the IRS - Understanding your Form 1099-DA:
If your Form 1099-DA has incorrect information
Request a corrected form from the issuer – see "Filer" on the to...
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Here are steps you can take from the IRS - Understanding your Form 1099-DA:
If your Form 1099-DA has incorrect information
Request a corrected form from the issuer – see "Filer" on the top left corner of Form 1099-DA to find the name and contact information of the issuer.
Keep a copy of the corrected Form 1099-DA with your records, along with any correspondence you have with the issuer Don't contact the IRS. We can't correct your Form 1099-DA.
Don’t wait to file your taxes.
Report income from the corrected Form 1099-DA on the appropriate tax return or schedule as you normally would.
In the meantime, you may want to consider filing an extension of your tax returns' due dates with the federal government and state(s). Learn more: How to File a Tax Extension Online With TurboTax (IRS Form 4868)
yesterday
Form 1098-Q reports details about a Qualified Longevity Annuity Contract (QLAC). You don’t need to enter this form into TurboTax since it isn’t a taxable event and there’s no entry screen for it in t...
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Form 1098-Q reports details about a Qualified Longevity Annuity Contract (QLAC). You don’t need to enter this form into TurboTax since it isn’t a taxable event and there’s no entry screen for it in the software. Hold on to this form for your records.
The IRS receives a copy of this form to know that the premium amount (up to certain limits) should be excluded from your required minimum distribution (RMD) calculations.
yesterday
What exactly does "erroring out" mean? If you are getting an error message, what is the complete exact message? Are you getting the error when you enter the W-2G information, or in Smart Check, or at...
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What exactly does "erroring out" mean? If you are getting an error message, what is the complete exact message? Are you getting the error when you enter the W-2G information, or in Smart Check, or at some other point?
Are you saying that the W-2G has no entries anywhere except the reportable winnings in box 1? If that's true, did you leave all the other boxes empty in TurboTax? In TurboTax did you select a state in box 13 or enter a payer's state ID? If so, delete those. Leave boxes 13 through 18 empty in TurboTax, and do not enter a state ID number.
Are you using TurboTax Online or the TurboTax Desktop software?
yesterday
Hello, I am an international student, and I got into the USA in Dec 2020, and I haven't left since then. In the past, I filed my taxes with Sprintax as a nonresident alien, but this year I qualif...
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Hello, I am an international student, and I got into the USA in Dec 2020, and I haven't left since then. In the past, I filed my taxes with Sprintax as a nonresident alien, but this year I qualify to file as a resident alien. However, my school issues me a Form 1042-S with scholarship and fellowship payment and federal and state taxes withheld. I am using TurboTax and I found a website that explains how to for 1042-S manually on Turbotax here: https://ttlc.intuit.com/community/tax-credits-deductions/discussion/how-to-report-1042-s/00/3319522 The step-by-step process is: Open your return in TurboTax Click on Wages & Income Scroll down to All Income Scroll down to Less Common Income Scroll down to Miscellaneous Income, 1099-A, 1099-C Click Start Scroll down to Other reportable income Answer yes and record this as 1042-S income and then the amount Now to report the tax withheld: With your return open Click on Deductions & Credits Scroll down to Estimates and Other Taxes Paid Click on Other Income Taxes Scroll down to Other Income Taxes Click on Withholding not already entered on a W-2 or 1099 The problem I am facing is that, I have followed these steps and but in the State and Federal taxes withheld under (Withholding not already entered on a W-2 or 1099) but I noticed that after I am done with federal tax and I move to the state tax section, there is another section called "Other Income Taxed by Indiana" asking me to put information about other income. Should I put the income from my 1042-S here again? I noticed that when I enter that income, it significantly reduces my state return, in fact, I have to pay the state. There is also no place to enter the state tax withheld in this section. What should I do?
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yesterday
Topics:
yesterday
We would be happy to help you with easing the pain of filing your 2025 tax return. Can you give us some details on where you might be stuck or having trouble with filing your taxes? Once we have mo...
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We would be happy to help you with easing the pain of filing your 2025 tax return. Can you give us some details on where you might be stuck or having trouble with filing your taxes? Once we have more information, we will be better able to assist you!
yesterday
It is not asking if YOU have an EIN, rather the county that pays you.
All counties should have an EIN number.
I'm not clear what you mean by Box b.
If you are unclear about entering the E...
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It is not asking if YOU have an EIN, rather the county that pays you.
All counties should have an EIN number.
I'm not clear what you mean by Box b.
If you are unclear about entering the EIN for your 1099-R, look for a nine-digit number near the name and address of the Payer on the 1099-R. It may be listed as a Federal Identification Number or Payer's ID.
yesterday
Can you clarify and be more specific/descriptive as to what information TurboTax is requesting that is not on your 1099-B?