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I don't know how to calculate my overtime pay for tax year 2025? Can anyone assist with this???
Schedule E?   You mean Schedule A for Itemized Deductions?   Yes any state payments made in 2025 including the 4th quarter estimate for 2024 made in January 2025 are deductible on your 2025 federal r... See more...
Schedule E?   You mean Schedule A for Itemized Deductions?   Yes any state payments made in 2025 including the 4th quarter estimate for 2024 made in January 2025 are deductible on your 2025 federal return.   It would not have been deductible on your 2024 Federal return, just a credit on the 2024 State return.
In most cases, the materials used in merchandise for sale are reported as Supplies or Miscellaneous Expenses using a custom description.    Note: If you enter a general business expense in the wr... See more...
In most cases, the materials used in merchandise for sale are reported as Supplies or Miscellaneous Expenses using a custom description.    Note: If you enter a general business expense in the wrong category, it will not affect your taxes. Just be sure you don't enter the same expense twice.
So do you just put thpse information in on deduction section on TurboTax not on community property section correct?   For example for charitable donation if I did 21k and my wife did 9 k.    I wi... See more...
So do you just put thpse information in on deduction section on TurboTax not on community property section correct?   For example for charitable donation if I did 21k and my wife did 9 k.    I will put 15 k on mine and she will put 15k on hers?    Thank you in advance.    And also how do I deal with the floor rule?
I filed for Social Security retirement in February 2026. Although I stopped contributing to my HSA in October of 2025, my employer continued contributions until the end of 2025. Also, I found out dur... See more...
I filed for Social Security retirement in February 2026. Although I stopped contributing to my HSA in October of 2025, my employer continued contributions until the end of 2025. Also, I found out during the SS application process that I should have stopped HSA contributions beginning June 1, 2025 due to the Medicare lookback period. I have since withdrawn all excess contributions but am confused about when and how to report the excess. Do I report the excess on my 2025 tax return or next year on my 2026 return? And, if it goes on this year's return, should I expect an updated 1099 to use as a guide? If I won't get a new 1099, how and where do I report it in TurboTax  Deluxe?
There are no tax credits for a metal roof in 2025.  It is not "small wind property" (that would be a windmill that makes electricity for your home.).  And the credit that used to exist for certain ro... See more...
There are no tax credits for a metal roof in 2025.  It is not "small wind property" (that would be a windmill that makes electricity for your home.).  And the credit that used to exist for certain roofs that prevent heat loss/gain was removed for 2025 (and not all roofs qualified in any case). 
RESIDENT STATE IS CALIFORNIA.    NON RESIDENT STATE WITH RENTAL INCOME IS KANSAS.
Unable to import Well Fargo Advisor brokage 1099 forms-2025
Thank you for the detailed answer, ReneV4, much appreciated!   I'm happy to follow the method you outlined and I can see how this will result in correct tax calculations on both of our returns. I c... See more...
Thank you for the detailed answer, ReneV4, much appreciated!   I'm happy to follow the method you outlined and I can see how this will result in correct tax calculations on both of our returns. I considered this, but I wasn't sure if IRS will accept the reports given that the various 1099 (INT, DIV, B) and W2 forms won't match the originals. For my piece of mind, is there a particular IRS publication I can refer to documenting this method? Or, is your recommendation based on positive past experience filing MFS in this way?   A couple of follow up questions: - we both paid estimated taxes, while close in amounts, these don't alway match; should we total and split 50:50 the est. tax payments as well? - I have a rental unit income (got a 1099-MISC from the prop mgmt company). Following your recommendation, we'll split the income, but that implies also splitting the related expenses. To keep things simple(r), can I file the expenses "as is" on only one of the reports (mine, since I'm the single owner of that rental property) despite that this will result in slightly different (lower) tax due on my report?   Many thanks for your help!
Your wife is not but you are.  Note that form 3520 is not part of your regular tax return and is not supported by Turbotax.  File it separately.   Here is the form and instructions. https://www.irs... See more...
Your wife is not but you are.  Note that form 3520 is not part of your regular tax return and is not supported by Turbotax.  File it separately.   Here is the form and instructions. https://www.irs.gov/forms-pubs/about-form-3520
I am a member of Metlife legal plans via my employer. I received a letter that the membership now offers free Turbo Tax. However, halfway through my reporting TT gave me the message that because I ha... See more...
I am a member of Metlife legal plans via my employer. I received a letter that the membership now offers free Turbo Tax. However, halfway through my reporting TT gave me the message that because I have a 1099-B for stock I sold I must upgrade to Premium for a fee.  Why is TT not recognizing my discount?
I am not an employee of the company so I did not receive a W-2.   I am unsure which option to choose from for the "What type of income is on your 1099-NEC?": Self employment income, Farm income, Ho... See more...
I am not an employee of the company so I did not receive a W-2.   I am unsure which option to choose from for the "What type of income is on your 1099-NEC?": Self employment income, Farm income, Hobby, Lawsuit settlement, Medicaid waiver payments that qualify as difficulty of care, Income that should've been reported on a W-2.   1099-NEC for research was $500.
There is no place in TurboTax Online to indicate that your 1099-NEC is corrected.   A corrected 1099-NEC supersedes and replaces the original 1099-NEC. The IRS has a copy of the corrected 1099-NE... See more...
There is no place in TurboTax Online to indicate that your 1099-NEC is corrected.   A corrected 1099-NEC supersedes and replaces the original 1099-NEC. The IRS has a copy of the corrected 1099-NEC. So just enter the corrected form and disregard the original form and the IRS can match it to the corrected copy they have.
In January 2025, I made a 4th quarter estimated payment for my 2024 state tax return. I noticed that for my 2025 federal tax return, TurboTax included this amount in line 5a (state and local income t... See more...
In January 2025, I made a 4th quarter estimated payment for my 2024 state tax return. I noticed that for my 2025 federal tax return, TurboTax included this amount in line 5a (state and local income taxes) of the itemized deduction (Schedule E). Is this correct? Wouldn't this be a double credit since I have already reported this amount in my 2024 state tax return?
This form only has line for "received from" = I need two or more lines for additional entries of bank names.
I've entered "Your Refund Info" over and over and also followed the steps to solve the issue and it will only allow me to click "Continue" instead of "revisit" like it does when that section is comple... See more...
I've entered "Your Refund Info" over and over and also followed the steps to solve the issue and it will only allow me to click "Continue" instead of "revisit" like it does when that section is complete. Meaning, I can't move on to step 3 and complete my filing.