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yesterday
My spouse died unexpectadly. is that considered a disaster?
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yesterday
This is confusing in the way it is worded and how you interpret it. But TurboTax actually uses that question for a different purpose: It’s trying to ask whether any of the listed special situations a...
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This is confusing in the way it is worded and how you interpret it. But TurboTax actually uses that question for a different purpose: It’s trying to ask whether any of the listed special situations apply to the asset you just entered. You weren’t misunderstanding anything — the UI is just poorly worded.
The “You can add another asset after selecting Yes” line is meant to reassure you that you won’t lose the chance to add more assets — but it ends up sounding like a requirement, which it isn't.
So you did what any reasonable person would do: You kept answering Yes, thinking that was the only way to continue adding assets. But answering Yes tells TurboTax: “Something special applies to this asset,” which then sends you down the wrong path and hides the sale questions. Instead of selecting yes, select "no" if none of those conditions apply.
Once you are finished reporting that asset you may add another in the asset summary screen. You will taken back to that "special handling" screen and you can select "no" here if there is no special handling required with this asset.
yesterday
Turbo Tax tab states "Not including railroad retirement and public employee pension amounts, you had pension or IRA income of $24,000 on your federal return. Enter any portion of that amount that is e...
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Turbo Tax tab states "Not including railroad retirement and public employee pension amounts, you had pension or IRA income of $24,000 on your federal return. Enter any portion of that amount that is eligible for a deduction." That amount includes the MERS income and IRA. What do I enter into this box?
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yesterday
No, you won't file an amended state return. If you find a mistake on your Property Tax Refund return, amend it by filing Form M1PRX, Amended Homestead Credit Refund.
For details, see Amending ...
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No, you won't file an amended state return. If you find a mistake on your Property Tax Refund return, amend it by filing Form M1PRX, Amended Homestead Credit Refund.
For details, see Amending a Property Tax Refund. If you want to reply with more information, we may be of further help.
yesterday
Because you are a sole proprietor, the IRS views you as the employer, not the individual Schedule Cs. Your SEP-IRA contribution limit is calculated based on your total net self-employment income acro...
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Because you are a sole proprietor, the IRS views you as the employer, not the individual Schedule Cs. Your SEP-IRA contribution limit is calculated based on your total net self-employment income across all businesses. The deduction itself ends up in the same place on your tax return (Schedule 1, Part II, Line 16.)
yesterday
I have One W-2 with box 12 W, which is $8678.74 and I have another W-2 with box 12 W, which is $1435.64 and I have Form 1099-SA with box 1, gross distribution is $1000.11 and box 2, earnings on exces...
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I have One W-2 with box 12 W, which is $8678.74 and I have another W-2 with box 12 W, which is $1435.64 and I have Form 1099-SA with box 1, gross distribution is $1000.11 and box 2, earnings on excess cont. is $0.11 and box 3, distribution code is 2, I am over 55 years old. Why TurboTax is saying I have excess contribution $564 ? My calculation is as follows: 1. Total Contributions (From W-2s) The amount in Box 12, Code W includes both your pre-tax payroll contributions and any contributions your employer made on your behalf. W-2 #1: $8,678.74 W-2 #2: $1,435.64 Gross Total Contribution: $10,114.38 2. The 1099-SA Correction (Code 2) Your Form 1099-SA with Distribution Code 2 (in Box 3) indicates that you identified an over-contribution and had the bank return it to you to avoid a penalty. Box 1 (Gross Distribution): $1,000.11 (This is the total amount sent back to you). Box 2 (Earnings): $0.11 (This is the interest that $1,000 earned while in the account). Principal Returned: $1,000.00 My Net 2025 Contribution: $10,114.38 - $1,000.00 =$9,114.38, which is less than annual contribution limit $9550. So there is no excess HSA contributions, because I already distributed $1000. Am I correct ? Please advise me, thank you!
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yesterday
The language in the extension screen within TurboTax is scheduled to be updated after April 15th.
It is quick and easy to file an extension using the alternatives previously shared:
Turb...
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The language in the extension screen within TurboTax is scheduled to be updated after April 15th.
It is quick and easy to file an extension using the alternatives previously shared:
TurboTax Easy Extension (a separate TurboTax website) rather than filing from within your TurboTax product, if you choose.
The IRS also offers these options:
Pay online and check the box
Pay what you owe using an online payment option and check the box that you are paying as part of filing for an extension. You don’t have to file a separate extension form and you’ll receive a confirmation number of your extension for your records.
Use Free File (no income limit for extensions)
Use IRS Free File to electronically request an automatic tax-filing extension.
Request an extension by mail
File Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return. You can file by mail, online with an IRS e-filing partner or through a tax professional.
Estimate how much tax you owe for the year on the extension form: Subtract the taxes you already paid for the filing year.
@GaJa
yesterday
Switching from desktop to online is easy. Here's how.
The cheapest way to handle this is to enter the trades in their stock categories and then mail in a copy of the 1099-B listing the trade...
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Switching from desktop to online is easy. Here's how.
The cheapest way to handle this is to enter the trades in their stock categories and then mail in a copy of the 1099-B listing the trades to the IRS. You can still file the return electronically, you just have to mail in a list of all of those little trades. Here's how to do that. It's still the easiest way.
@rberghef
yesterday
No you should not adjust the cost basis . Usually brokers automatically adjust the cost basis to compensate for the wash sale. Import 1099-B or enter it manually exactly as reported esp if its comin...
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No you should not adjust the cost basis . Usually brokers automatically adjust the cost basis to compensate for the wash sale. Import 1099-B or enter it manually exactly as reported esp if its coming from a major broker like Morgan Stanley/ J P Morgan/ E*trade/Fidelity etc
yesterday
The only documents on my profile are W2s. There is no CRP or worksheet in the documents list on either mobile app, mobile website, or desktop website.
yesterday
There is $0 in my traditional IRA at start of 2025 and I made both the $7000 non-deductible contribution and converted all of it to my Roth in 2026. I tried following the instructions on this link fo...
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There is $0 in my traditional IRA at start of 2025 and I made both the $7000 non-deductible contribution and converted all of it to my Roth in 2026. I tried following the instructions on this link for desktop version: https://ttlc.intuit.com/turbotax-support/en-us/help-article/retirement-benefits/enter-backdoor-roth-ira-conversion/L7gGPjKVY_US_en_US; however, I did not come across a question about non-deductible contributions made in 2025. Turbotax only asks if I made non-deductible contributions in 2024 and what my basis was that year (not applicable in my case as my IRA accounts weren't set up until 2025). I also noted I would not receive a 1099-R for this contribution until early 2027 as the conversion was done in 2026 instead of 2025. I just want to make sure I'm correctly reflecting the conversion on my tax return for 2025. Please assist! Thank you.
yesterday
If you have a capital loss, you can delete the 5802CG so you can efile your Maryland return. Follow these steps if using TurboTax Online:
From the left rail menu in TurboTax Online, select Tax ...
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If you have a capital loss, you can delete the 5802CG so you can efile your Maryland return. Follow these steps if using TurboTax Online:
From the left rail menu in TurboTax Online, select Tax Tools (You may have to scroll down on the left rail menu.)
On the drop-down select Tools
On the Pop-Up menu titled “Tools Center,” select Delete a Form
This will show all of the forms in your return
Scroll down to the form you want to delete
Select the Form
Click on Delete.
yesterday
Have you personally used this method if negative income on schedule one to report session winnings
yesterday
It's not likely you need this form, however here is the details about Schedule G/L for Pennsylvania (PA). The PA Schedule G-L (Resident Credit for Taxes Paid) is a Pennsylvania tax form used by PA ...
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It's not likely you need this form, however here is the details about Schedule G/L for Pennsylvania (PA). The PA Schedule G-L (Resident Credit for Taxes Paid) is a Pennsylvania tax form used by PA residents, estates, or trusts to claim a credit for income taxes paid to another state. It prevents double taxation on income (such as wages or business income) that is taxed by both PA and another state. All dividends would flow to the PA return and if you are not being taxed on the same income in another state you should be able to put a zero in the field if one comes up in an edit box. If you have only one state return all dividends would be taxed to PA.
yesterday
no those are earnings which have not been taxed. they would be considered part of the cost basis of a position if you are tracking gain/loss of individual positions like you would in a taxable accou...
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no those are earnings which have not been taxed. they would be considered part of the cost basis of a position if you are tracking gain/loss of individual positions like you would in a taxable account, but not the basis of the IRA. only non-deductible contributions are part of the basis since that is "after tax" money.
yesterday
1 Cheer
You do not have to file it and it may even slow down the processing if you do file it. Form 8833 is not supported in TurboTax so it can't be filed with your TurboTax prepared return. We recommen...
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You do not have to file it and it may even slow down the processing if you do file it. Form 8833 is not supported in TurboTax so it can't be filed with your TurboTax prepared return. We recommend Sprintax.
yesterday
Use your login password
yesterday
I am having the same problem. However, when I go to form and forms in my return, no PPP form is listed. I tried checking a box and entering bogus information to see if the form would show up. No dice...
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I am having the same problem. However, when I go to form and forms in my return, no PPP form is listed. I tried checking a box and entering bogus information to see if the form would show up. No dice. When I go back, it simply asks me to pick a year again. The program also insisted I enter my spouse's income in Canada despite the fact that I clicked that we have not lived anywhere else or earned income anywhere else. I've never had such problems with TT before. I'm really frustrated. I just want to do my simple taxes and move on. Is this TT's way of trying to force me to use the online version????
yesterday
As I said in the other update, I imported a wrong file. Sorry about it. The info you provided is still very valuable and can be used for verifications.
yesterday
I am having trouble entering data properly in TurboTax for my education situation. Details: 529 account in my name with my son as beneficiary My son is not my dependent for tax year 2025 (we are s...
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I am having trouble entering data properly in TurboTax for my education situation. Details: 529 account in my name with my son as beneficiary My son is not my dependent for tax year 2025 (we are separated and MFS; my wife is claiming him) 1098-T to my son lists qualified tuition expense payments and a scholarship 1099-Q to my son reflects amount distributed directly from 529 to school for tuition and room and board 1099-Q to me reflects amount distributed to me for computer equipment, software, and enrollment and housing fees, and amount of scholarship I do not qualify for AOTC or LLC and my son does not have enough income to file a return My understanding is none of the distributions from the 529 should be taxable except the earnings portion attributed to the scholarship offset withdrawal, and that should not be subject to the 10% penalty for non-qualified distributions. Some questions: Should I just not enter the 1098-T and 1099-Q to my son at all? Is it OK if I just enter the data for the 1099-Q to me, and the expenses/scholarship that correspond to that? When I try to tell TurboTax about my son's 1099-Q, answering that someone else received it and that the student is someone else (i.e. not the taxpayer or a dependent), it says the form will not affect my taxes and it will be removed and doesn't let me enter any numbers. Does that make sense? When I try doing what I describe in #1 above, TurboTax still adds the 10% penalty for the scholarship offset withdrawal. I was able to fix that by entering the appropriate amount in Form 5432-T Part II line 5C. But should I have to do that manually or did I do something incorrect in the interview?