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yesterday
I have Tax Exempt Interest showing on my 1099-INT on line 8, which was electronically imported from my brokerage account. I am using a Turbo Tax Premier Desktop Version on a Mac. I cannot figure...
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I have Tax Exempt Interest showing on my 1099-INT on line 8, which was electronically imported from my brokerage account. I am using a Turbo Tax Premier Desktop Version on a Mac. I cannot figure out how to access the question or form where I would enter which states it came from. I live in Massachusetts, and will need to enter how much came from Massachusetts and how much from elsewhere. I have tried using both the Step by Step format and looking at the Format. How do I navigate to the right place in Turbo Tax to enter the necessary information? Thanks.
yesterday
@KimPh wrote:
So GA residents lose money because the State doesn't conform with the Federal tax law???? That's unfair for GA residents though. Will GA law makers later come back and follow the l...
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@KimPh wrote:
So GA residents lose money because the State doesn't conform with the Federal tax law???? That's unfair for GA residents though. Will GA law makers later come back and follow the law?
Contact your state legislator - https://georgia.gov/contact-state-legislators
yesterday
I viewed your file with the token number that was provided. I noticed your gross income for the year is $435,156, while your Form 1116, line 3e is $106,591. You need to enter an adjustment in line 3E...
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I viewed your file with the token number that was provided. I noticed your gross income for the year is $435,156, while your Form 1116, line 3e is $106,591. You need to enter an adjustment in line 3E so that it reflects $435,156. The best place to enter this is to go to Gross Income From All Sources Smart Worksheet on Form 1116. There, you will see the amount of $106,591. Underneath that amount, you may make an adjustment of $328,565 and now your line 3e will reflect the correct amount of $435,156 and your tax due will lower as well. I can't speculate on why the error occurred. I can only recommend a solution that'll correct Box 3E on Form 1116 to reflect the correct amount of your Adjusted Gross Income that is reported in your 1040. @kcarterco
yesterday
@mwcondry I'm sorry this is happening to you. this is most likely due to two factor authentication by your bank or broker where you must allow TT access on their side. It is not a TT issue, secur...
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@mwcondry I'm sorry this is happening to you. this is most likely due to two factor authentication by your bank or broker where you must allow TT access on their side. It is not a TT issue, security gets increased every year which is a good thing, but, requires more work on individuals part. Or it could be due to high usage overwhelming the bank/broker during tax time. Contact the bank/broker. Honestly I always prefer to manually input my info and only possibly transfer trades over if over 10 as then I'm assured I did everything correct and no errant issues in the data transfer.
yesterday
The community has advised that the self-employment tax is 14.1% of net business income. Will you confirm that net business income is gross business income minus business expenses? And please clarif...
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The community has advised that the self-employment tax is 14.1% of net business income. Will you confirm that net business income is gross business income minus business expenses? And please clarify the following. My son's net business income is about the same as the standard deduction so his taxable income is almost zero. Does he still need to pay the 14.1% of net business income or about $2,400 of self-employment tax?
yesterday
1) I noticed that when entering Form 1099-Q, TurboTax seems to ignore the “Earnings” amount I input and instead calculates its own value based on the basis at the previous year-end and the account ba...
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1) I noticed that when entering Form 1099-Q, TurboTax seems to ignore the “Earnings” amount I input and instead calculates its own value based on the basis at the previous year-end and the account balance at year-end. This results in what appears to be an inaccurate earnings calculation, and I don’t see an option to override it. I was under the impression that the earnings are calculated at the time of withdrawal? Has anyone else experienced this? 2) Lastly, I’m unsure whether TurboTax can properly handle a 529 plan transfer from another family member since the transfer comes with its own cost basis. Does anyone know how this situation should be handled?
yesterday
I received a CP53E for my e-filed and accepted federal tax return. I tried to create an ID.me account but I'm now waiting for actual approval on the documentation provided (could take 3-4 days). Tu...
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I received a CP53E for my e-filed and accepted federal tax return. I tried to create an ID.me account but I'm now waiting for actual approval on the documentation provided (could take 3-4 days). Turbo Tax didn't indicate that a paper check for my refund was not an option therefore my bank account information was not necessary. How do I proceed to ensure my refund?
yesterday
So GA residents lose money because the State doesn't conform with the Federal tax law???? That's unfair for GA residents though. Will GA law makers later come back and follow the law?
yesterday
Yes, add the UBIA figures together and enter the total as well.
yesterday
@ryjouk-work I sent your suggestion to TT moderators. It is a good one as it is impacting many filers this year. Direct deposit has also been an issue as many banks are rejecting joint filer retur...
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@ryjouk-work I sent your suggestion to TT moderators. It is a good one as it is impacting many filers this year. Direct deposit has also been an issue as many banks are rejecting joint filer returns when only 1 is on the account and SSN must match.
Here was message I sent:
OP made a great suggestion as the IRS no longer is mailing refund checks under Executive Order 14247 delaying many refunds this year. These users are now getting CP53E notices and having to create IRS.gov accounts and tax refunds will be delayed for extended time. This should be made clear to any user who requests a paper check. Additionally direct deposit users should be made aware that SSN of the taxpayer must match for direct deposits and many banks won't accept direct deposit if both joint filers are not on their accounts. It is causing a number of issues. Clarity on the options needs to be better.
yesterday
Yeah I'm not seeing that either. That screenshot I posted earlier is the only thing I see besides a prompt to start my 2025 return on the Tax Home section. I will say, I have already filed my 202...
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Yeah I'm not seeing that either. That screenshot I posted earlier is the only thing I see besides a prompt to start my 2025 return on the Tax Home section. I will say, I have already filed my 2025 return with a different account ID. Could that be causing a problem?
yesterday
I did a mock return for Pennsylvania and all 1099-MISC forms had their income reported on PA 40. The one thing that I did notice is that each 1099-MISC had to be edited to enter required Pennsylvani...
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I did a mock return for Pennsylvania and all 1099-MISC forms had their income reported on PA 40. The one thing that I did notice is that each 1099-MISC had to be edited to enter required Pennsylvania information. From what I read on your posting, I wasn't sure if you had 1000 transactions reported on one 1099-MISC or if your had 1000 1099-MISC forms. Do you know if your Federal income from the 1099-MISC is being reported correctly? If so, the same amount should be carrying over to your Pennsylvania return as well. Were you able to edit the 1099-MISC forms on your Pennsylvania return to show the type of income it was? There is also a checkbox for each of the 1099-MISC entries for PA in TurboTax to make it non-taxable - if any of those are checked accidentally, that could be throwing off the calculation of the correct amount of income.
If you have additional questions or concerns, please reply back with as much detail as possible as that will help us to better help you.
yesterday
There was more than one explanation shared in this thread and I am not sure what you tried. Here's another explanation of the steps for both the Federal return (to report the income) and for the New ...
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There was more than one explanation shared in this thread and I am not sure what you tried. Here's another explanation of the steps for both the Federal return (to report the income) and for the New York return (to subtract the income there).
Because the special New York Inflation Refund is not a regular tax refund but a special payment that is taxable at the Federal level, you can report it instead in Other Reportable Income. In TurboTax Online:
From the left menu, go to Federal and select the first tab, Wages & Income
Add more income by scrolling down to the last option, Less Common Income, and Show more
Scroll down to the last option, Miscellaneous Income, 1099-A, 1099-C and Start
Choose the last option, Other reportable income and Start and Yes
Enter the applicable description and amount and Continue
Then, to subtract an item of income from your New York return that was included in your Federal return income (because it's not taxable for New York), you can enter that subtraction in TurboTax Online at the screen in your New York return labeled "Changes to Federal Income". Look under Other New York Adjustments to Federal Income, and select Start next to Other changes (adjustments) to your federal income to make the subtraction entry.
You should not have a zero in total payments and withholding unless you entered a zero in a field where that will cause an error, such as may occur if you entered the payment in the state tax refund section. The "Total of all your payments and withholding" field in the state refund interview includes amounts from your W-2 (Box 17), estimated tax payments, and any extension payments from the prior tax year. This is why we are recommending that the special New York Inflation Refund NOT be entered as a tax refund.
@lwkaufman
yesterday
I am amending last year's federal return due to not claiming a DAF deduction. I am getting a refund from my taxes paid with my original return. From what I can see in the numbers, this has no impact ...
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I am amending last year's federal return due to not claiming a DAF deduction. I am getting a refund from my taxes paid with my original return. From what I can see in the numbers, this has no impact on my 2024 Indiana tax return as AGI doesn't change. The added deduction doesn't qualify for any Indiana tax credits. Turbo tax isn't show any refunds or payments needed for the state return. So no state return amendment is needed, right? Or am I missing something.
yesterday
TirboTax asks the question to help ensure that it was posted correctly, and that you didn't miss anything.
Do you have a state posted in box 15
If the 1099-INT box 17 is blank or zero, enter...
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TirboTax asks the question to help ensure that it was posted correctly, and that you didn't miss anything.
Do you have a state posted in box 15
If the 1099-INT box 17 is blank or zero, enter zero.
yesterday
You can try using the chat feature to notify support. To do this, sign in, select "Live Help," and use the chat to inform your specialist you need to cancel the appointment.
You can also contac...
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You can try using the chat feature to notify support. To do this, sign in, select "Live Help," and use the chat to inform your specialist you need to cancel the appointment.
You can also contact them directly to update your appointment. You can contact TurboTax Customer Support using this link: Turbo Tax Customer Support .
If you have additional information or questions regarding this, please return to Community and we would be glad to help.
yesterday
You can search the form but first it has to be added. You have to make an input into the schedule D that requires a form 8949. At that point the system will add it to the return and you can search ...
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You can search the form but first it has to be added. You have to make an input into the schedule D that requires a form 8949. At that point the system will add it to the return and you can search it. But it won't be added unless it is needed based on entries.
yesterday
yes they have **bleep**ed it up, if I put in the QCD they then ask me what the QCD was and deduct it twice
yesterday
Thank you!!! This year we could not get the 1099's to download. All of our financial institutions are on the list. Very irritating.