All Posts

The IRS will not actually start processing returns until Jan 26. Wait until you get your refund and everything is settled. Then, you will need to file an amended return with the correct numbers. You want to do this so the IRS doesn't send you a nasty letter with penalties later. See:  How do I amend my federal tax return for this year? I need to amend my state return.

Are both mortgages considered either your first lien and/or a home equity loan? If so, then the two interest amounts are added together and the limit is applied to the total of the two. Please review this FAQ from TurboTax: Can I deduct my mortgage interest?   In terms of your CP28, the most important thing is to respond - don't ignore it and hope it goes away.    Please read the following: What to Do if You Get an IRS Notice

Did you copy the 2024 tax return file ending in .tax2024 to the new computer?   Where did you copy it to?   Did you copy all the .tax2024 files from the old computer?    What I would do is just copy the whole Turbo Tax folder that is under your Documents.  That should be where the .tax files and pdf files are stored.  Copy that folder to a flash drive or best yet is to burn it to a CD or DVD and then you will have a backup of them.   Then on the new computer copy the folder (or files) from the flash drive to your Documents folder.

Your wife's FICA taxes imported with a $2 overage that should have been zero. You can amend, file and pay $2 OR you can say it is a minimal error, less than $25 and save yourself, the IRS, banking, etc the hassle and forget about it. TurboTax told you there was a problem, you verified it and now you can decide if it is worth the hassle. The IRS prefers you NOT file an amended unless the value is $25 or more.

Yes.  The 6,000/12,000 senior deduction will be calculated on 1040 Schedule 1-A page 2 Part V Enhanced Deduction for Seniors which goes to 1040 line 13b. It is separate and in addition to the Standard Deduction or your Itemized Deductions on 1040 line 12e. Turbo Tax automatically includes it if you qualify.   1040 Schedule 1-A, page 2 Part V Enhanced Deduction for Seniors https://www.irs.gov/pub/irs-pdf/f1040s1a.pdf

For the Foreign Tax Credit, you are able to designate each country separately, and the amount of income earned/tax paid for each country.   However, TurboTax currently displays a page in the interview stating that this form is being updated, with a link to sign up for email alerts.  In FORMS mode, you can manually make entries on the Foreign Tax Credit Computation Worksheet for Form 1116, which will link to Form 1116.    You can enter the country names for each country, and the amount of income earned for each country on the worksheet.   Scroll down to the tax paid section, and enter tax paid to each country.     @user17645583867                   

If you need to file a 2021 return, you will need to locate the software online or find a local tax preparer. If the IRS prepared a substitute return for you, you will not receive all the credits and deductions you deserve so it is better for you to file the return. 

This might work for 2026, but since I just learned of this exemption, I need to file amendments for 2023 and 2024 and turbo tax does NOT seem to have a way to enter this adjustment without me having to override it and enter a negative number. The reduction in taxable income leads to other credits I was not eligible for when I originally filed, so it is important. If I don't override, TurboTax 2023 treats it like additional income instead of a negative adjustment to income.