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To enter a Puerto Rico Form 480.7C (retirement/pension) in TurboTax, report it as a 1099-R. Under Federal Wages & Income. Scroll to Retirement Plans and Social Security Select  IRA, 401(k), Pens... See more...
To enter a Puerto Rico Form 480.7C (retirement/pension) in TurboTax, report it as a 1099-R. Under Federal Wages & Income. Scroll to Retirement Plans and Social Security Select  IRA, 401(k), Pension Plans (1099-R). [Add a new 1099-R} I'll type it in myself. Enter the information from your 480.7C. When asked for the payer's address, mark the box for Foreign Address and select Puerto Rico.
On your tax form, Form 1040, the standard deduction is located on Line 12. Schedule A is for itemized deductions, which you will not use when taking the standard deduction.    You can check the sta... See more...
On your tax form, Form 1040, the standard deduction is located on Line 12. Schedule A is for itemized deductions, which you will not use when taking the standard deduction.    You can check the standard deduction in TurboTax Online by navigating to Tax Tools on the left of your screen, choose Tools, then View Tax Summary. On the left of the screen, select Preview my 1040, and scroll to line 12 of the 1040 to see the standard deduction.
If you are having looping issues, it may be a browser problem. Try clearing your cache and deleting your cookies.  You can use the steps below to enter your self employment income and expenses fo... See more...
If you are having looping issues, it may be a browser problem. Try clearing your cache and deleting your cookies.  You can use the steps below to enter your self employment income and expenses for Door Dash:   Click Search in the upper right and type Schedule Click, Jump to On the Self employment Income and Expenses', click the arrow. Select Edit or Start beside your business and then scroll to Business Income and select 'Other Income' (cash, etc.). For more information, see, How do I report income from self-employment? 
My 1065 Schedule K-1 has amounts in both lines 1 and 2 in Part III, so I need to create a separate K-1 for business income/loss and at least one additional K-1 for rental real estate income/loss.  TT... See more...
My 1065 Schedule K-1 has amounts in both lines 1 and 2 in Part III, so I need to create a separate K-1 for business income/loss and at least one additional K-1 for rental real estate income/loss.  TT states that when multiple businesses are listed in the Statement setting forth the Section 199A information, a separate K-1 should be completed for each business.  When creating a separate K-1 for each business listed in Section 199A information Statement, is the same amount from line 2 in Part III included on each K-1 or does it need to be allocated?  Also, since amounts are shown in other line items in Part III, are they just included in one of the K-1s, and nothing noted for the separate K-1s that are completed to provide Section 199A information?
Try deleting Form 2555 by going to Tax Tools>Tools then Delete a Form from the left menu in TurboTax Online.   If that does not work, try clearing cache and deleting cookies.
My wife has an in home business and is paid via non employee compensation.  We file married filing jointly.  Is there a way for her to file quarterly without having to file a separate return?  We use... See more...
My wife has an in home business and is paid via non employee compensation.  We file married filing jointly.  Is there a way for her to file quarterly without having to file a separate return?  We use Turbo Tax Home and Business 
where do i add income or expenses for doordash. it keeps looping me back to the summary. this shouldnt be so hard to add income.
standard deduction married filing jointly, $31,500 where located on form
I picked the rental properties and royalties to report a Form 1099 rental receipt. The Form 1099 MISC entry will not update to Schedule E. The review says to add it to my Schedule C which is not correct.
Yes, that is the correct way to report this. 
need expert to do my 1099-b
Hi @DaveF1006 I was wrong earlier about the residency status and I just cross checked that my spouse is still non resident alien. I filed mine as married filing separately writing down NRA at my spou... See more...
Hi @DaveF1006 I was wrong earlier about the residency status and I just cross checked that my spouse is still non resident alien. I filed mine as married filing separately writing down NRA at my spouse's SSN field. Hope it will be fine! Thanks!
In the Mac Desktop 2025 - the issue is not yet fixed. This is 3 days from the deadline so presumably will never be fixed.   As I had a heat-pump water heater installation but no electrical panel up... See more...
In the Mac Desktop 2025 - the issue is not yet fixed. This is 3 days from the deadline so presumably will never be fixed.   As I had a heat-pump water heater installation but no electrical panel upgrades, I went in to the Forms view of the Desktop version to manually edit to ensure that Item 25 of Form 5695 has "No" chosen. The HeatPump Water Heater itself is addressed in Item 29c). However, despite deleting the 5695 form and re-answering the "Enabling property" choice as "No" the answer to Item 25 did not get chosen "No" in the raw form.   Thankfully, the manual edit did not cause any errors in the very "Smart Check" and kept the manual edit intact.
@DoninGA has provided a good explanation but let me expand on why you owe tax and why the senior deduction did not make a difference.   Since your income was under $12,000, your taxable income fo... See more...
@DoninGA has provided a good explanation but let me expand on why you owe tax and why the senior deduction did not make a difference.   Since your income was under $12,000, your taxable income for Income Tax purposes is effectively zero which aligns with @DoninGA explanation. Adding more deductions (like the $6,000) doesn't help because you can't reduce your income tax below zero because it is already zero due to the standard deduction.   The $616 is "Self-Employment Tax", which is different from your income tax. Deductions like the Standard Deduction or the new Senior Bonus only reduce Income Tax. They do not reduce Self-Employment tax.   SE tax is roughly 15.3% of 92.35% of your net profit. If your net profit was around $4,300–$4,500 after your $17k in expenses, that would result in a tax bill of exactly about $616.   @faithonthecross
The problem is still happening and for Marcus - where the "OLD" 1099 imports are deleted - even though they were from the joint account holder and have a unique account number (i.e., not old) and the... See more...
The problem is still happening and for Marcus - where the "OLD" 1099 imports are deleted - even though they were from the joint account holder and have a unique account number (i.e., not old) and the new import is from an individual account that has a completely different account number.    Problem seems to be fixed for Fidelity.   Software can see the account numbers connected to each 1099 so it would be OK if it said "We see 2 identical account numbers with a 1099 - which one do you want to keep?".