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yesterday
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yesterday
I need to sign out, how do I save my work I've done.
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yesterday
1 Cheer
No, you can't prepare a tax return for someone else under your Online Account and send them a link to approve in TurboTax. AI answered your question incorrectly. TurboTax is only licensed for perso...
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No, you can't prepare a tax return for someone else under your Online Account and send them a link to approve in TurboTax. AI answered your question incorrectly. TurboTax is only licensed for personal use and not third party providers.
To file an additional return using TurboTax Online, you will need to create a new account.
yesterday
I need to generte 2 forms of 1116. The first one is from my income ( higher) and then I would like to generate another credit for Dividend income. When I insert the first income, TT is categorizing it...
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I need to generte 2 forms of 1116. The first one is from my income ( higher) and then I would like to generate another credit for Dividend income. When I insert the first income, TT is categorizing it as dividend - giving me no option to categorize this as salary / General income
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yesterday
what it means code Z- section 199A information?
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yesterday
I am helping my college-age child (older than 18) with her taxes. I do not believe that she needs form 8615, but there is no way to remove it in TurboTax. The background: - She had significant...
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I am helping my college-age child (older than 18) with her taxes. I do not believe that she needs form 8615, but there is no way to remove it in TurboTax. The background: - She had significant earned income from summer job and jobs during the school year (far exceeding any levels of parental support that we provide her) - She also had unearned income greater than $2700. The criteria for filing a form 8615 is: - unearned income > $2700 - "Was a full-time student at least age 19 and under age 24 at the end of 2025 and didn’t have earned income that was more than half of the child's support." My daughter does not meet the second criteria at all. I can see from the 'forms' view in turbotax that there is checkbox at top of 8615 which asks about the criteria, but that section of the form is not editable in TurboTax. TurboTax seems to assume that solely because my child has unearned income > $2700, then she must include form 8615. Any ideas? I think it's clear that she is not required to file form 8615, right?
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yesterday
How. can a company compete when they can't fix problems preventing potential customers from ordering their products? The only way I could order was by having the rep do it for me. She was able to g...
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How. can a company compete when they can't fix problems preventing potential customers from ordering their products? The only way I could order was by having the rep do it for me. She was able to give me a discount when I asked for one.
yesterday
For the 2025 tax year in Georgia, you follow a deduction approach similar to federal rules but with some key differences. Standard vs. Itemized Deductions: Georgia allows you to choose between its...
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For the 2025 tax year in Georgia, you follow a deduction approach similar to federal rules but with some key differences. Standard vs. Itemized Deductions: Georgia allows you to choose between its own standard deduction or itemizing deductions like on your federal return. Generally, if you itemize federally, you also itemize on your Georgia return when filing separately. Bonus Depreciation: Georgia doesn't conform to the federal 100% bonus depreciation rule. You must add back any federal bonus depreciation and depreciate assets using Georgia-specific rules. SALT Deduction Cap: While federal SALT deductions are capped at $40,000 temporarily, Georgia limits this deduction to $10,000 for 2025. You will need to make adjustments on your Georgia return for bonus depreciation and SALT deductions compared to your federal return.
yesterday
Thanks again @pk for reviewing my questions. You mentioned "But note that no matter what you do there is no FTC --- so it is just any possible reduction in Indian tax outlay." , but following the ...
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Thanks again @pk for reviewing my questions. You mentioned "But note that no matter what you do there is no FTC --- so it is just any possible reduction in Indian tax outlay." , but following the suggestion from the community on how to get Foreign Tax Credit for the TDS that I paid for the Indian Govt, I am seeing a Tax Credit. What could I be missing here? Here is how to claim your foreign tax credit in TurboTax. Go to Federal Deductions and credits Estimate and other taxes paid Foreign Tax Credit>start or revisit As you go through the screens, when it asks "Tell Us About Your Foreign Taxes" select none of these apply. When it asks if you wish to take the deduction and credit, take the credit. Continue through until you reach a screen that says "No other income or expenses" Say no Continue through until it asks the income type, say Passive Income Next add a country pick India Other Gross Income say Sale of Personal Property and the Gross Amount of the sale Continue through the interview until it asks for the foreign taxes you paid, here record the amount. Now you are done reporting the foreign taxes. Just keep going through the section without making any more entries. You will have finished reporting your gross income from the sale and the foreign taxes paid.
yesterday
You stated the SC return in Turbo Tax was updated 2 weeks ago. My South Carolina return is doing an addback on standard deduction adjustment. It is Line 2e, Fed to State differences addback fro...
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You stated the SC return in Turbo Tax was updated 2 weeks ago. My South Carolina return is doing an addback on standard deduction adjustment. It is Line 2e, Fed to State differences addback from OBBB Smart Worksheet: Standard Deduction Adjustment $1,500 ($750 on my daughter's single status return) Is this the amount from SC INFORMATION LETTER #26-4 (Revised)? It lists items adopted at the Federal Level but not by SC. The increase in the standard deduction amount was one of those things, along with consideration for OT pay and tips.
yesterday
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yesterday
How to check in TurboTax Online:
Sign in to your TurboTax account.
Scroll down to the bottom of the screen and select Tax Tools, then Print Center.
Choose Print, save or preview this year'...
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How to check in TurboTax Online:
Sign in to your TurboTax account.
Scroll down to the bottom of the screen and select Tax Tools, then Print Center.
Choose Print, save or preview this year's return.
Look for the Federal Information Worksheet (or the State equivalent).
Scroll down to Part V (Electronic Filing and Direct Deposit/Debit Information). This will show:
Direct Debit- if you see your bank account number and a specific date, the IRS will pull the money automatically.
It will say "Check or Money Order" if you chose to mail it.
It will list your monthly payment details if you applied for an Installment Agreement.
yesterday
so note (for anyone else reading this), it duplicates and doubles your wages for the state you reside in! I had to go to that state and update the wages after and specifically check off a switchbox t...
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so note (for anyone else reading this), it duplicates and doubles your wages for the state you reside in! I had to go to that state and update the wages after and specifically check off a switchbox to "remove wages" of the other state!
yesterday
The quickest way to do this is look at your prior year 1040. If you did not already save a copy, you can obtain one in your TurboTax account. To do this, sign into your account, go to Tax home, scr...
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The quickest way to do this is look at your prior year 1040. If you did not already save a copy, you can obtain one in your TurboTax account. To do this, sign into your account, go to Tax home, scroll down and select Your tax returns & documents. Select 2024, then choose to Download/print return (PDF).
Now in the 2024 return, find Schedule C (Profit or Loss From Business). Go to Part IV on the second page of Schedule C. Part IV asks for your mileage. If you provided mileage and did not fill out a Form 4562 (Depreciation), you used the Standard Mileage Rate.
yesterday
1 Cheer
TurboTax may say you contributed excess to your HSA if the total contributions reported (from you, your employer, or others) exceed the IRS limits for 2025. Important points: 1. The maximum combi...
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TurboTax may say you contributed excess to your HSA if the total contributions reported (from you, your employer, or others) exceed the IRS limits for 2025. Important points: 1. The maximum combined contribution limit is $4,300 for self-only coverage and $8,550 for family coverage if you are under 55. 2. Limits are prorated based on the number of months you had HDHP coverage. 3. Ensure you haven't accidentally entered the same contribution twice, for example, manually and via your W-2 Box 12 code W. 4. Check all HSA entries carefully in the contribution section to avoid double-counting. If you find an error, correct or remove duplicate entries. If your contributions did exceed limits, you may need to withdraw the excess amount by April 15, 2026 to avoid penalties.
yesterday
Thank you very much. Yes it was all fully operational in early December.
yesterday
I'm confused by Turbo Tax Deluxe questions at the end of typing in all of my wife's Roth IRA 1099R data for 2025. But before I tell you what is confusing me, I'll give all the precursor info up front...
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I'm confused by Turbo Tax Deluxe questions at the end of typing in all of my wife's Roth IRA 1099R data for 2025. But before I tell you what is confusing me, I'll give all the precursor info up front. In November of last year (2024) my wife had only had one Roth IRA. It matured at it's current custodian and it was small we couldn't find a place to 1035 it since they all had higher deposit requirements. So we just decided to distribute the whole thing. She's had it for over 20yrs and she well over 59.5 yrs old. It did not have any stocks etc for capital gains, no trad IRA conversions etc. Just a original small Roth IRA that has moved through 3 custodians over the years and slowly grew to $9256.20 So I get to hopefully near the end of Turbo's questions and then it asked me this --- Jo's Roth IRAs What were Jo's Roth IRA contributions prior to 2025? --- We don't know what the original amount that she first put in the original bank Roth years ago. And when the bank CD matured she 1035 rolled it into a MYGA Annuity and then another yrs later. We don't have the answer to what were her contribution was. We only know that it's now worth $9256.20. What the does it matter anyhow it's a Vanilla Roth there won't be any tax on this distribution and Turbo Tax should know that since I've already answered all their questions about capital gains and trad IRA conversions, there were none. And what are we supposed to do now, since we can't give Turbo Tax the answer to this?
yesterday
Since the Estimates method under Other Tax Situations doesn't specifically include a screen to enter pension income and withholding, you can add items in the Wages screen, label them as "pension", an...
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Since the Estimates method under Other Tax Situations doesn't specifically include a screen to enter pension income and withholding, you can add items in the Wages screen, label them as "pension", and enter the amount you expect to receive in 2026 as well as the amount of taxes you will have withheld.
See this TurboTax tips article for more information.
yesterday
To enter your dependent's Form 1095-A when it is shared with a non-custodial parent, you must use the Shared Policy Allocation feature in TurboTax. Even though the father is the policyholder and pays...
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To enter your dependent's Form 1095-A when it is shared with a non-custodial parent, you must use the Shared Policy Allocation feature in TurboTax. Even though the father is the policyholder and pays for the plan per court order, you as the custodial parent must report your dependent's coverage on your tax return.
Step-by-Step Entry in TurboTax
Go to Federal > Deductions & Credits > Medical > Affordable Care Act (Form 1095-A). Enter the data from the father's 1095-A exactly as it appears, including his Social Security number in the "Recipient" field.
After entering the form data, look for the screen titled "Was your health plan shared with someone who is not on your tax return?" and select Yes.
You will be prompted to enter:
The other taxpayer's (father's) Social Security number.
The Starting Month and Ending Month your son was covered.
On the "Shared Policy Allocation" screen, you must enter a percentage for your share of the Premium, the SLCSP, and the Advance PTC. You and the father can agree to any split (e.g., 0%, 50%, or 100%) as long as your combined percentages equal 100%. If the father is paying for the coverage and claiming 100% of the credits, you should enter 0% for all three categories on your return. This satisfies the IRS requirement to show where the child was covered without affecting your final tax total.
yesterday
One page on your state tax section asks you for total WAGES, another page is asking you for total INCOME. I bet you put the same number on both because they frankly look like the same question. ...
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One page on your state tax section asks you for total WAGES, another page is asking you for total INCOME. I bet you put the same number on both because they frankly look like the same question. However, income = wages + whatever extra $$$ you received (interest from bank accounts, stocks you sold, etc). Your 123 line reflects the WAGES, but if you scroll down a little bit you'll see that they added more $$$ to that amount to account for all the extras. So your total INCOME should be (123 + $$$). So you gotta go back to the beginning of the state return and make sure that when they ask you for INCOME, it includes (123 + $$$) Putting this here because I had the same question, and the other responses here weren't helpful at all lol. You're like "It looks like 1a and 1b are the same" and they're like "But you have to make sure that 1b IS THE SAME." Totally unhelpful, jfc.