All Posts

What deductions are you adding in?  And have you finalized your Alabama return yet?   The refund counter just takes into account the items that have been entered so far.  Until you go through your state return and finalize it it is difficult to know whether the system has taken everything into account yet.

You do not fill out Schedule 1-A.   The senior deduction of $6,000 is automatically calculated by TurboTax based on the dates of birth you entered for each spouse.   Married couples filing separately are not eligible for the senior deduction.   The senior additional deduction is not included in the standard deduction but appears on line 37 of Schedule 1-A of your form 1040, with that amount flowing to line 13b of your form 1040.   In TurboTax Online, you can only view Schedule 1-A after registering and paying the TurboTax fee.   But you can preview your form 1040 and check line 13b of your form 1040 which includes the senior deduction among other deductions if applicable, such as the tip deduction, the overtime or the car loan interest deduction.   To preview your form 1040 in TurboTax Online, follow these steps:   Open your return In the left-hand column, locate Tax Tools, click on the drop-down arrow then click on Tools On the Tools Center page, click on View Tax Summary In the left-hand column, click on Preview my 1040 Your form 1040 will display. Scroll down to line 13b  and you should see the amount of this deduction included in this line.

This means that your broker has no information on the date you acquired these assets.   The date acquired is important as it determines when the capital gain/loss is short-term or long-term. If you held the asset for a year or lees, it is short-term. For more than a year, it's long term.   If you know that you acquired these assets more than a year before you sold them, you can just estimate a date.

Can you give us some more information to clarify your situation? Do you mean you expected a refund but they took it as money you owed? Did you enter the bank acount that it was taken from? What is on your tax return Form 1040? Is it line 34 Refund? Or is it line37 amount you owe?

Yes, the Colorado (CO) tax return will use the federal information when you complete your CO part year resident tax return. The CO return should be filed to show you do not have any taxable gain from the sale of your home.   Colorado follows federal standards for home sale capital gains tax exclusions ($250k single/$500k married) because it conforms to the Internal Revenue Code.   @toriat9999 

To fix an incorrect State ID notice in TurboTax when your W-2 shows a 9-digit number, remove any spaces, dashes, or special characters in Box 15. If it still rejects, ensure you haven't included the two-letter state abbreviation, as that is usually selected in a separate dropdown. 

Your gross income on the Foreign Tax Credit Computation Worksheet follows the IRS definition for "Gross Income from All Sources".  The inflation usually happens because the calculation adds back losses and excludes certain deductions that normally reduce your total income on other parts of your return.    Why the number may be higher than your AGI Gross income includes total capital and ordinary gains before subtracting any capital or ordinary losses. If you had large stock sales with offsetting losses, TurboTax will show the full gain amount here without the "cushion" of the losses. If you have a business, the calculation uses gross receipts (minus cost of goods sold) rather than net profit. If you claimed the Foreign Earned Income Exclusion, that excluded income is added back into your "Gross Income from All Sources" for this calculation. Every single positive line item from your schedules (like Schedule D or E) is summed up, often ignoring the negative entries that typically balance them out. 

Thanks for the response. Each donation consists of dozens of items. And i have at least 15 different donation dates. I am documenting them and the value in an Excel spreadsheet.  I know that I cannot import the spreadsheet, but can I copy/paste the item descriptions to save time? Are there any other tricks that could make this process go faster? 

Where did you hide an option to not have assistance?  I couldn't find it.  I have never used an assistant in many years.  Also, the screens were obviously more confusing and with less clarity.  I see many  complaining on the internet - certainly many were forced to get assistance just to understand the confusing screens.  What a way to pilfer money from your clients - If the screen prompts are vague again next year - well, I will just say bye-bye now. 

If your state withholdings are not being sent to your state tax return in TurboTax you can try the steps listed below.   Go back to your W-2 and make sure that the two-letter state abbreviation (e.g., NY, CA) is correctly entered in Box 15. If this is blank or incorrect, TurboTax  cannot pass the tax amount to the state tax return. Verify that all boxes (15-17) are in TurboTax correctly. If you are using a TurboTax Desktop program, try switching  to Forms Mode by clicking on Forms in the top right corner of your TurboTax screen. On the left side of your TurboTax screen find your Form W-2 and manually verify that the state tax-withheld amount appears on your State Return. Delete your W-2, then log out, clear your browser cache, and  log back in. Enter your Form W-2 manually. When you do this, make sure the correct state name is selected from the dropdown menu. Don't type it in. To delete a Form W-2 if you used TurboTax Online you can:   Click on "Tax Tools" in the left panel of your TurboTax screen Select  "Tools" Click on "Delete a Form" Scroll down the list of your forms to find your Form W2 Click on the trash can to the right of your form to delete it To delete a Form W-2 If you used TurboTax Desktop, you can:   Click on "Forms" in the top right of your TurboTax screen to switch to "Forms Mode" In your left panel of your TurboTax screen find Form W-2 Click on "Delete Form" at the bottom of the form Click on "Yes" to confirm the deletion To get back to your W-2 screens in TurboTax you can:   Click on "Search" in the top right of your TurboTax screen. Type "W-2" in the search bar. Click on the link "Jump to W-2" And select to Type it in Myself   Click here for How do I manually enter my W-2? If you have additional information or questions regarding this, please return to Community and we would be glad to help.