All Posts

It may be that you do not qualify. Your loan payments only qualify to the extent they are more than 10% of your adjusted gross income that is more than $10,000. So, if you take your adjusted gross income and subtract $10,000 from it and multiply the result by 10%, only your loan payments greater than that amount would qualify for the credit.

You cannot change or add anything on the return that you just e-filed, nor can you stop it.  It is too late, just like when you put an envelope in a US mailbox on the corner.  The IRS does not allow you to take it back.   If you left out a W-2, a 1099G, or a dependent, or a 1099 etc…DO NOT change your return while it is “pending.”  The changes will go nowhere.   Now you have to wait until the IRS either rejects or accepts your return.  If your return is rejected, you will be able to go into your account and make the necessary changes to your tax return and re-submit your return.    Sometimes—not always— the IRS corrects your mistakes, while they are processing your return.    If the IRS accepts your return, however, then you have to wait longer until it has been fully processed and you have received your refund.  THEN you can prepare an amended tax return and e-file or mail  it in. You have to be able to work from that return exactly the way it was when it was e-filed originally.  You will need to use a form called a 1040X.     Meanwhile, DO NOT go in and start changing anything on your return in the system, or you will make a mess for yourself.  Sit tight and wait until you see what the IRS does with the return you just e-filed   The Form 1040X is scheduled to be available on February 26.   The date is subject to change, so check on 2-26  to see if it is ready.   Before that, do not change anything at all on your return.  

I figured it out. Thanks   Appears it is the Passive Limitation column on the K-1 Reconciliation Worksheet  -QBI -that I have, that was throwing me off. But in the long run - many hours, it was the same end result as carry over loss numbers on my 8582

Phone support is not provided with the Free Edition.  If you are using a paid version of the software or if you purchased PLUS you can get phone support when customer support is there.  Otherwise, post your question here and someone will try to help.   To call TurboTax customer support https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/contact-turbotax/L2y9ZKpQB_US_en_US?uid=m5s9l2vh

Thank you for your prompt response. However, it is not correct as net capital gains should not be added to Other Income if it is also included in the Qualified Dividend and Capital Gains Information section of the Estimate Tax Worksheet. I say this because if you take Capital Gains from the Information section, plus Other Income, less Itemized Deductions, you get Taxable Income per the program. In other words, Taxable Income already includes Capital Gains (from the Information section) without including it in Other Income. I'll respond to your income by including a marked-up version of the Worksheet, demonstrating the calculation.

The depreciation for Massachusetts (MA) will be the same as the federal because you used the standard mileage rate (SMR). To calculate the depreciation you will use the information provided. The SMR has a depreciation component as shown below. Multiply your business miles for each year for the rate listed for each year, then add all years results to arrive at the total.   Annual Depreciation Component Breakdown (for more years see the chart in IRS Pub 463) 2025: $.33 2024: $.30 2023: $.28 2022: $.26  2021: $.26   

You’re right. I take back what I said. I think the only thing TurboTax could have handled better here (and on their site) is being more transparent. For example, they could clearly state that the form isn’t ready because the IRS hasn’t finalized the instructions yet, and include a direct link so users can verify the status themselves — such as: www.irs.gov/draft-tax-forms That level of clarity would go a long way in reducing confusion and frustration.

If someone claimed you as a dependent on their tax return, they would need to have lived with you and provided over half of your support to qualify. If you are on SSI, they may not have provided over half of your support. You might discuss this situation with with a social worker or other professional assigned to you.   This forum is intended for TurboTax users to post questions regarding preparing tax returns.     @Remedy75 

Same problem, I cannot get Apex Clearing to import, keep getting a 103 error.  Manually entering forms is not an option, the ONLY reason I use TT is because of the import function.   What other steps can be taken to fix the Apex import capability?

@Findir @dtayl190 there's been multiple updates from Intuit in this thread and others in this forum that it's currently expected in a release some time on Thursday night i.e. should be available on Friday 2/20.

I came across this same dilemma. The question about not typing in RMD amount seems to need to be better written. I.e.--If you turned 73 in 2025, Do not include calculated RMD in the box as it is not due until April 2026." or some such clarification.

I have the same situation of converting 401k in Roth in December and TT proposed an underpayment penalty. I selected annualized returns and the questionnaire after that is a maze. I am being asked to describe per quarter the interest incomes and capital gains and deductions. Honestly I dont know - I get annual statements and dont really track which quarter what was paid. How do I sanely fill out the 2210 form?