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yesterday
Form 8615 - Turbo Tax selected one of the radio buttons and unable to deselect it.
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yesterday
Form 8615 - Turbo Tax selected one of the radio buttons and unable to deselect it.
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yesterday
The 5 digit pin is an electronic filing pin that you create for your signature. Each year you can create a new pin, you don't have to remember the one that you used last year. If you've already enter...
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The 5 digit pin is an electronic filing pin that you create for your signature. Each year you can create a new pin, you don't have to remember the one that you used last year. If you've already entered it, you don't need to change it.
For more information, review What's my signature ID? and the IRS article Self-select PIN method for Forms 1040.
yesterday
Is there a cancel button or check mark on the top of the form? If that does not work, and if you can get to the save your return function do that first, then try pressing the esc key, then try ctrl-...
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Is there a cancel button or check mark on the top of the form? If that does not work, and if you can get to the save your return function do that first, then try pressing the esc key, then try ctrl-c key. The first part of the answer if just to save your work before trying things that could cause Turbo Tax to exit badly.
yesterday
@um_goblue wrote:
Yes I believe there was a small amount of earnings. I think Turbo Tax took care of that though. If not I guess I pay it in 2026 then?
Because the contributions were for ...
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@um_goblue wrote:
Yes I believe there was a small amount of earnings. I think Turbo Tax took care of that though. If not I guess I pay it in 2026 then?
Because the contributions were for the 2025 tax year, the interest is taxable on your 2025 tax return, even if it was physically withdrawn in 2026. You should enter it as miscellaneous other income, or as bank interest not on a 1099-INT.
yesterday
The rejection code can help you determine next steps. Check out this help article: What does my rejected return code mean and how do I fix it?
yesterday
If you made after tax contributions prior to January 1, 1984, you should pick either "3 year rule or general rule pension. If contributions were made after January 1, and it's not a military or disa...
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If you made after tax contributions prior to January 1, 1984, you should pick either "3 year rule or general rule pension. If contributions were made after January 1, and it's not a military or disability plan, you should select "None of the above".
yesterday
The inherited IRA proceeds were designated "inherited" and check was deposited into a new IRA
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yesterday
Here's a help article on What does my rejected return code mean and how do I fix it? If you get too many rejections, you may need to print and mail your return in. Here's how: How do I file my retur...
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Here's a help article on What does my rejected return code mean and how do I fix it? If you get too many rejections, you may need to print and mail your return in. Here's how: How do I file my return by mail?
yesterday
@JHWE wrote:
According to IRS Form 5329, line 47 instructions, https://www.irs.gov/instructions/i5329#en_US_2025_publink13330rd0e1537, the earnings on the excess contribution are reported in 202...
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@JHWE wrote:
According to IRS Form 5329, line 47 instructions, https://www.irs.gov/instructions/i5329#en_US_2025_publink13330rd0e1537, the earnings on the excess contribution are reported in 2026, the year you receive them.
You misread the instructions. Even if you withdraw the excess contribution during the 2026 calendar year, the fact that the excess contributions were for 2025 means that any interest that is paid is also reported on your 2025 tax return. This is reported either as miscellaneous other income, or as interest not on a 1099-INT.
yesterday
Para reportar un formulario 1099 en TurboTax Online, debes ingresar la información exactamente como aparece en tu formulario. Esto se hace en la sección Wages & Income bajo 1099-MISC, 1099-NEC, o 109...
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Para reportar un formulario 1099 en TurboTax Online, debes ingresar la información exactamente como aparece en tu formulario. Esto se hace en la sección Wages & Income bajo 1099-MISC, 1099-NEC, o 1099-DIV, según corresponda. Si TurboTax no te permite continuar, revisa que todos los datos estén completos y correctos, incluyendo el número de identificación del pagador y los montos. También asegúrate de que no haya errores pendientes o preguntas sin responder en otras partes del programa que puedan estar bloqueando el proceso. Si tienes un mensaje específico de error, dime cuál es para darte instrucciones más precisas.
yesterday
I had the same issue. I spoke to billing support for 1.5+ hours and they tried to help me but then the subtotal went up to $203 with an add for $44 to use my refund to pay the state. so now it looked...
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I had the same issue. I spoke to billing support for 1.5+ hours and they tried to help me but then the subtotal went up to $203 with an add for $44 to use my refund to pay the state. so now it looked like $247. +++ I had paid for a desktop version and was lead here with the promotion of a $0 fee for state filing. Costco Premier turbo tax was $65.99. so now add that to the potential $247 ='s $313. I was upset for the hours spent filing and the last screen saying pay or remove the online file. (Not allowing a download for my time) A 2nd call today for 1 hour:19 min. resulted in the decline refund team telling me to switch to desktop and re-input this years info. I said I had been offered a couple promo codes and would like to see if they would work before i gave up my 4.5 hrs filing+ 1.5hrs customer support + this 1.3 hr refund call. It worked out and i did not have to pay anything additional other than my desktop version. So, thank you for that, but this was a hard road to travel to save $25 on a state tax filing discount. Next year will be desktop again. not going through this again. good luck to you. you may have to call a couple times to get the correct person who can help you. it is a crapshoot. Just like going to the DMV with questions.
yesterday
Yes, installing new siding is considered a home improvement (specifically a capital improvement) because it adds value to your home, prolongs its life, or adapts it to new uses. Where it gets entered...
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Yes, installing new siding is considered a home improvement (specifically a capital improvement) because it adds value to your home, prolongs its life, or adapts it to new uses. Where it gets entered in TurboTax depends on its use. If this is for your home it is not entered in TurboTax keep your receipts. It will be used to reduce any capital gain when you sell.
For tax purposes, siding is generally not immediately deductible, but it is treated as a capital improvement that increases your home's cost basis. This reduces your capital gains tax when you sell your home.
You would not enter this information in TurboTax until you sell your house. And then it will only be reported in that it increases your homes value and decreases your capital gains tax.
If the siding was used for a home office and you added siding to a qualified home office that is exclusively used for your business, it is a permanent improvement that you can depreciate. The cost is treated as a business asset, generally depreciated over 39 years (using IRS Form 8829) rather than deducted immediately, because it adds value to the structure.
If it is for a home office you would enter as either a business asset or a business expopense as discussed below.
The room or structure must be used regularly and exclusively for business.
When you sell your home, the depreciation claimed must be "recaptured," meaning it is treated as ordinary income and potentially taxed.
If you are using the simplified method for your home office you cannot depreciate it.
If the siding was a repair rather than an improvement (residing the whole office), it might be deductible as a repair expense for your business in the current year.
Please return to Community if you have any additional information or questions and we would be happy to help.
yesterday
The same thing just happened to me. I've saved and saved using the desktop version and now I have to start over!
yesterday
@ashishgargmp20 , Namaste Ashish ji
For foreign passive incomes like interest and dividend , you enter these just as if these are from domestic sources.
For rental income you use Schedule-E , j...
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@ashishgargmp20 , Namaste Ashish ji
For foreign passive incomes like interest and dividend , you enter these just as if these are from domestic sources.
For rental income you use Schedule-E , just as if you are dealing with domestic , except you must take depreciation and it is ADS with 30 year life.
Capital gain i.e. stocks, bonds etc. are again reported just like domestic ones.
Where things get murky is if you have paid Foreign Tax --- this may require filing a form 1116 to claim FTC.
If you need more detail help, please add to this thread or if you wish privacy PM me ( just please NO PII --- Personally Identifiable Information ).
Namaste ji
yesterday
No, automotive repair isn't considered the transportation industry for the business code for your Schedule C. Here are the business codes for automotive repair from the IRS Schedule C instructions:
...
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No, automotive repair isn't considered the transportation industry for the business code for your Schedule C. Here are the business codes for automotive repair from the IRS Schedule C instructions:
Repair & Maintenance
811120 Automotive body, paint, interior, & glass repair
811110 Automotive mechanical & electrical repair & maintenance
811190 Other automotive repair & maintenance (including oil change & lubrication shops & car washes)
Choose the code that's closest to what you do.
Refer to the IRS Schedule C instructions Principal Business Codes - Repair and Maintenance for more information.
yesterday
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yesterday
For both the 2024 and 2025 tax years, because you withdrew the excess contributions and earnings before the filing deadline (April 15), the IRS treats them as if they were never made. You do not need...
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For both the 2024 and 2025 tax years, because you withdrew the excess contributions and earnings before the filing deadline (April 15), the IRS treats them as if they were never made. You do not need to pay the 6% excise tax penalty.
If you filed you 2024 tax return, you will have to amend the return to report the earnings. The earnings on the 2024 excess are taxable in 2024, even though you withdrew them in 2025. Enter the 2025 1099-R for your 2024 tax return.
Box 1: Total amount withdrawn (contribution + earnings).
Box 2a: Just the earnings amount.
Box 7: Use codes P and J.
Year: Select 2025 as the form year when prompted.
The earnings on the 2025 excess are taxable on your 2025 return. Create another substitute 1099-R for the 2025 return.
Box 1: Total amount withdrawn in 2026.
Box 2a: Earnings only.
Box 7: Use codes P and J.
Year: Select 2026 as the form year.
When asked if an exception applies to the early withdrawal penalty, select "Corrective distributions made before the due date of the return" to zero out any 10% penalty on the earnings.
In the Deductions & Credits section, you must still enter the Roth contributions for each year. When TurboTax identifies them as excess, you must indicate that you withdrew the entire excess amount plus earnings before the deadline to avoid the 6% penalty on Form 5329.
yesterday
I'm moving to the desktop product. I started online until I was able to get a copy of the desktop product (I bought a physical copy of TurboTax from my local Costco to get the best deal).