All Posts
yesterday
I was self-employed part of 2025 and have an Roth Individual 401K I want to contribute to. My gross income was $8073 so I plan on contributing that amount as the employee. My net income was negative ...
See more...
I was self-employed part of 2025 and have an Roth Individual 401K I want to contribute to. My gross income was $8073 so I plan on contributing that amount as the employee. My net income was negative so I will not be contributing any as employer. Sound correct? Where do I enter these on TT screen? It refers to Individual 401Ks or Roth 401Ks but not accounts that are both... a Roth Individual 401K. I also want to maximize my total contributions for the year via a separate Roth IRA. I am 63 and eligible for a catch up payment (totaling $8000 correct?). Where do I enter this? Thanks!
Topics:
yesterday
Yes, you can.
When you get to the file section of the program, you can choose different filing methods for each return:
Select E-file for your federal return.
Select File by Mail for...
See more...
Yes, you can.
When you get to the file section of the program, you can choose different filing methods for each return:
Select E-file for your federal return.
Select File by Mail for your state return. The program will provide the forms you need and the mailing instructions for your state taxing agency.
Follow the next steps to file by Mail:
Sign in to your TurboTax account and open your return. Go to the File tab.
Complete steps 1 and 2.
In Step 3, choose "File by mail."
Follow the instructions to print, sign, and mail your forms.
yesterday
Thank you, SteamTrain.
I am trying to fill my Illinois state tax return. Everything else seems to be ok--property tax credit, IL's handling of retirement income, estimated tax payments--but t...
See more...
Thank you, SteamTrain.
I am trying to fill my Illinois state tax return. Everything else seems to be ok--property tax credit, IL's handling of retirement income, estimated tax payments--but the state taxes withheld just doesn't show up.
Thanks in advance for any suggestions!
Dick
yesterday
Need to contact turbo tax & talk to someone
Topics:
yesterday
If I do not include in the rental property section, can I include in the Deductions & Credits section? Thank you for the clarification.
yesterday
Hello @safperbox , I have the same situation where I became a citizen during the year and will need to complete a dual return. Based on my age, Turbotax is including a senior deduction of 6,000 but ...
See more...
Hello @safperbox , I have the same situation where I became a citizen during the year and will need to complete a dual return. Based on my age, Turbotax is including a senior deduction of 6,000 but I believe I am not entitled to this deduction this year. I was able to select the itemized deduction (instead of standard) but cannot get rid of this senior deduction. Can you please tell me how to remove this deduction? Thank you!
yesterday
No, Form W-2G cannot be imported into TurboTax. You will have to enter it manually. Some W-2 forms for employment can be imported, but gambling winnings on W-2G forms require manual data entry.
...
See more...
No, Form W-2G cannot be imported into TurboTax. You will have to enter it manually. Some W-2 forms for employment can be imported, but gambling winnings on W-2G forms require manual data entry.
You can enter your Form w2-G using the steps listed below.
To enter your gambling winnings in TurboTax Desktop, you will do as follows:
Select "Wages & Income"
Click on "I'll Choose What I Work On?"
Scroll down to "Less Common Income"
Click "Start" by "Prizes, Awards and Gambling Winnings"
Your screen will say Did you win money or other prizes in 2025? Click on Yes
Your next screen will say Did you receive a W-2G? Answer Yes and Continue
Your next screen will say Let's get the details from your W-2G. Enter the information from your Form W-2G in the appropriate boxes and Continue
Follow your TurboTax screens and answer all follow-up questions.
To enter your gambling winnings in TurboTax Online you will do as follows:
Click on "Wages & Income"
Scroll down the page to "Less Common Income"
Click the (down-facing) caret next to "Less Common Income"
Click on "Start" next to "Gambling Winnings"
Your screen will say Did you win money or other prizes in 2025? Click on Yes
Your next screen will say Did you receive a W-2G? Answer Yes and Continue
Your next screen will say Let's get the details from your W-2G. Enter the information from your Form W-2G in the appropriate boxes and Continue
Follow your TurboTax screens and answer all follow-up questions.
See also:
How do I enter a W-2G?
How to Use the W-2G Tax Form to Report Gambling Income
Please return to Community if you have any additional information or questions and we would be happy to help.
yesterday
Unless you aggregated rental properties for tax reporting purposes, the passive loss should have been released in the year the property was sold. Being owned by an LLC has nothing to do with it.
yesterday
Thank you very much for your help with this. It appears I’m due a sizeable refund and it made me wonder if I was doing something wrong or if I missed something.
yesterday
No, you usually cannot claim a loss on the sale of a motorhome if it was only used for personal purposes. However, there are three (3) scenarios that may allow you to claim the loss.
1). If yo...
See more...
No, you usually cannot claim a loss on the sale of a motorhome if it was only used for personal purposes. However, there are three (3) scenarios that may allow you to claim the loss.
1). If you used the motorhome for a trade or business (e.g., a mobile office, traveling for work, or as a rental), you can deduct the portion of the loss that corresponds to its business use.
E.g., if you used it 40% for business (and 60% for personal trips), you can claim 40% of the loss on Form 4797. You must have kept a mileage log or records proving the business usage
2). If you bought the motorhome to rent it out to make a profit (and didn't use it for family vacations), it is treated as an investment asset.
The loss would be reported on Schedule D (Capital Gains and Losses), subject to the $3,000 annual limit on capital losses.
3). If your "loss" was from a fire or storm, you can sometimes claim a casualty loss. The IRS only allows these deductions if the damage occurred in a Federally Declared Disaster Area.
yesterday
I talked to the brokerage house and needless to say they were not much help. They indicated because of wash sales. it is complicated. They also indicated it is a known back end issue of some so...
See more...
I talked to the brokerage house and needless to say they were not much help. They indicated because of wash sales. it is complicated. They also indicated it is a known back end issue of some sort. The short/long of it is The 1099 "is reported" to government has "lots" that do not show up in the supplemental data What is the best way to solve this issue? The 1099 "is not reported" to governmnent has at least 1 lot that does not show up in the supplemental data. TurboTax pulled in the "supplemental data" but since the lot sizes/proceeds do not match up 1 for 1 with what "is reported" and "what is not reported". Some of them are not even close. I am unable tell Turbo tax what is reported and what is not reported. so when i send my taxes in, I am guess I will be flagged because what the 1099-B says is reported and what I say is "reported" do not match up at all. I think the suggested I received from ReneV4 is... just want to make sure I heard correctly... I could just input what is "reported" and what is "not reported" as the 1099-B verbatim and adjust cost basis as best as I can for data that matches. Would that reduce my chances of being flagged?
yesterday
I was not being snide. One of the difficulties is that here in the Community, we get posts from all sorts of people, from tax-savvy to the total beginners. I am not sure how else I was to take your h...
See more...
I was not being snide. One of the difficulties is that here in the Community, we get posts from all sorts of people, from tax-savvy to the total beginners. I am not sure how else I was to take your heading "How do i "withdraw" excess money from an hsa" other than to mean that you had never done this before.
When you make an excess HSA contribution, then you must make a "withdrawal of excess contributions", or else the HSA administrator will misunderstand you and send you a 1099-SA with the wrong distribution code. We see this happening daily because taxpayers do not understand how an HSA works. Hence my desire to be very explicit and perhaps excessively pedagogical.
yesterday
We purchased an RV (over 6000lbs) in 2021 and 80% was for business use. For 2021 we chose the special depreciation allowance and was able to depreciate the full 80% the first year (114k). For yea...
See more...
We purchased an RV (over 6000lbs) in 2021 and 80% was for business use. For 2021 we chose the special depreciation allowance and was able to depreciate the full 80% the first year (114k). For years 2022-2025 it was 100% used for business, and TurboTax has been calculating the depreciation as follows: 2022- 57k 2023- 34k 2024- 20k TurboTax Online has not allowed me to change the values in any of these boxes over the years, it only asks for the date put into service (2021) and purchase price. It's only now (while doing 2025 taxes) that I realized the total depreciated amount is now greater than the original cost of the vehicle, which doesn't seem correct. Do we need to amend past returns? The business has not made any income, always at a net loss even before adding depreciation expenses. So there's no business income to offset. Is it even worth amending at this point?
yesterday
Are you talking about the senior deduction?
The deduction is automatically calculated by TurboTax if you qualify. The calculation will appear on Schedule 1-A page 2, Part V Enhanced Deduction f...
See more...
Are you talking about the senior deduction?
The deduction is automatically calculated by TurboTax if you qualify. The calculation will appear on Schedule 1-A page 2, Part V Enhanced Deduction for Seniors, which is then carried to your Form 1040 line 13b.
The maximum deduction is $6,000 for each person 65. There is a phaseout of the deduction once your income (MAGI) exceeds $75,000 for single or $150,000 for married filing jointly (MFJ). On a joint return the phaseout is calculated separately for each person.
On a joint return the phaseout is calculated separately for each person, so the 6% phases out for each spouse. This deduction is intended to provide tax relief for seniors and is in addition to the existing Standard Deduction or your Itemized Deductions. Expires December 31, 2028.
yesterday
This is my first year using TurboTax and based on what is happening, I doubt I will again. Filed on 2/28 and was accepted the same day. I received federal in days. NY State still not received. No on...
See more...
This is my first year using TurboTax and based on what is happening, I doubt I will again. Filed on 2/28 and was accepted the same day. I received federal in days. NY State still not received. No one has been of help. Not TurboTax, not the state. At least when I used to go to a private accountant, there was communication and they would get in touch with state on my behalf. It has been over 5 weeks. I am in desperate need of this money. Not to mention, I live in NJ and work in NY. I owe NJ and am having it automatically deducted on 4/15, figuring the money from NY would already be in my account. And please don't send me a generic response. I paid to use a tax expert through your service so I want answers.
yesterday
when MAGI below $250k?
Topics:
yesterday
After File completed, I plan to print and mail, but found the direct deposit information incorrect, I have no way to fix the bank information and reprint. Turbo Tax don't show File section any more.
Topics:
yesterday
The senior deduction 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...
See more...
The senior deduction 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.
yesterday
If you sold a house in late 2025, you'll have to report it on your 2025 tax return.