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yesterday
since you say it's taxable, 2a must be completed. Generally, it's the same as box 1 and for a Traditional IRA code 7, and the IRA box is checked. if it's for an IRA and you have made non-deductible c...
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since you say it's taxable, 2a must be completed. Generally, it's the same as box 1 and for a Traditional IRA code 7, and the IRA box is checked. if it's for an IRA and you have made non-deductible contributions Form 8606 is also required so the 2a amount can be prorated between taxable and non-taxable. The 8606 also requires the Fair Value of all Traditional IRAs as of 12/31/2025
the answer would vary for other retirement accounts and codes.
yesterday
Like VolvoGirl mentions in her post, this is automatically calculated based on your age and income for the year. There's no further action done on your part. Here's another link that gives more inf...
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Like VolvoGirl mentions in her post, this is automatically calculated based on your age and income for the year. There's no further action done on your part. Here's another link that gives more info on Form Schedule 1-A, where the senior deduction is claimed:
Schedule 1-A, Additional Deductions: What to know about the new form
yesterday
You have not asked a question.
TurboTax provides do-it-yourself tax software. TurboTax guarantees the calculations done by its software. The information entered into that software is dat...
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You have not asked a question.
TurboTax provides do-it-yourself tax software. TurboTax guarantees the calculations done by its software. The information entered into that software is data entered by you, the user. TurboTax cannot and does not check that information against any outside sources, so TT cannot know if you entered your information completely or correctly. It is up to you to enter all of your information correctly and completely, and to check your tax return before you file it. If you forget to enter some income, or enter it incorrectly, enter it in the wrong place, etc. then you may end up owing additional tax to the IRS and/or state. TurboTax does not pay the additional tax you owe. If TurboTax’s calculations were incorrect, and you owe penalties and/or interest, then TT will pay the penalties and interest. The tax due is always owed by you, and must be paid by you.
If you need to enter a claim for the accuracy guarantee:
https://ttlc.intuit.com/turbotax-support/en-us/help-article/intuit-account-billing/submit-claim-turb...
yesterday
should I add the 2 amounts listed on box 10 of my 1098 form to the property (real estate) taxes?
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yesterday
If you didn't use Turbo Tax for federal, There is a way but you first have to fill in the federal and pay for federal for it to flow to state. You will have to mail state. See, https://ttlc.intuit...
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If you didn't use Turbo Tax for federal, There is a way but you first have to fill in the federal and pay for federal for it to flow to state. You will have to mail state. See, https://ttlc.intuit.com/community/filing-and-paying-taxes/help/can-i-prepare-and-file-just-my-state-return-using-turbotax/00/26408
yesterday
I have my 1095A void form
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yesterday
@mrschrewe unless you receive a form, do not enter anything. But you should receive a rollover form with a Code G in Box 7. It needs to be reported but is not taxable. Contact your administrator...
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@mrschrewe unless you receive a form, do not enter anything. But you should receive a rollover form with a Code G in Box 7. It needs to be reported but is not taxable. Contact your administrator.
yesterday
I have a uniformed service thrift savings plan. I served in an area designated as Combat Zone Tax Exempt (CZTE). I made contributions to TSP that were not directed to a Roth account. In my pretax ...
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I have a uniformed service thrift savings plan. I served in an area designated as Combat Zone Tax Exempt (CZTE). I made contributions to TSP that were not directed to a Roth account. In my pretax TSP account TSP is maintaining a tax record for the non-taxable amount representing the amount I contributed. The gains are suppose to be taxable. If I were to roll this account over to Vanguard how would the post tax cost basis and the pretax gains on the amount be accounted for. what type of account could I roll these combination pre and post tax monies into?
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yesterday
The “senior deduction” is added automatically by the software based on the date of birth and filing status you entered into MY INFO. You do not need to take any extra steps to enter it. (And…the new...
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The “senior deduction” is added automatically by the software based on the date of birth and filing status you entered into MY INFO. You do not need to take any extra steps to enter it. (And…the new senior deduction has nothing to do with whether you are getting Social Security)
The deduction is not on the same line as your standard deduction. It is shown separately on line 13b.
2025 STANDARD DEDUCTION AMOUNTS
SINGLE $15,750 (65 or older/legally blind + $2000)
MARRIED FILING SEPARATELY $15,750 (65 or older/legally blind +1600)
MARRIED FILING JOINTLY $31,500 (65 or older/legally blind + $1600)
HEAD OF HOUSEHOLD $23,625 (65 or older/legally blind + $2000)
For 2025 through 2028 there is an extra deduction amount of up to $6000 per individual 65 or older filing Single, MFJ, or HOH which is phased out for taxpayers with modified adjusted gross income over $75,000 for single filers and $150,000 for joint filers.
(The deduction phases out completely at $175.000 Single or HOH, or $250,000 joint)
The $6,000 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.
IRS Schedule 1-A https://www.irs.gov/pub/irs-dft/f1040s1a--dft.pdf
Need to see it?
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/preview-turbotax-online-return-filing/L77WCkvnu_US_en_US?uid=m681fkhr
If you are not getting the senior deduction it is because
Your date of birth in MY INFO shows that you were not 65 by the end of 2025
Your income is too high
You are filing married filing separately
yesterday
Did you use online last year to prepare your 2024 return but then did not file?
You will be able to access the 2024 return you started by using the exact same account and user ID that you ...
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Did you use online last year to prepare your 2024 return but then did not file?
You will be able to access the 2024 return you started by using the exact same account and user ID that you used when you started it. But you can no longer use online software for any further changes.
Start a 2025 return online and enter some personal information so that the menu on the left opens up and lets you access your past year returns.
Online tax preparation and e-filing for 2024 returns is now permanently closed.
Now it is too late to use online software or to e-file. If you have any changes/corrections at all to make to your 2024 return, you now have to complete it using desktop software, which you must download to a full PC or Mac (not to a mobile device).Then you need to print, sign and mail it.
https://ttlc.intuit.com/turbotax-support/en-us/help-article/printers-printing/finish-prior-year-return-started-turbotax-online/L9Oe4M90A_US_en_US?uid=m68tffpe
If you already paid for your online software you can ask customer support for a download of the desktop software.
They are available from 5 a.m. to 9 p.m. Pacific time
https://ttlc.intuit.com/questions/1899263-what-is-the-turbotax-phone-number
If you are getting a refund, there is no penalty for filing late. If you owe tax due, then file and pay the amount due as shown on the Form 1040, but expect a bill later from the IRS for the penalty and interest you will owe. Only the IRS will calculate this—TurboTax will not calculate it.
When you mail a tax return, you need to attach any documents showing tax withheld, such as your W-2’s or any 1099’s. Use a mailing service that will track it, such as UPS or certified mail so you will know the IRS/state received the return.
Federal and state returns must be in separate envelopes and they are mailed to different addresses. Read the mailing instructions that print with your tax return carefully so you mail them to the right addresses.
yesterday
@zoneman2018 more detail required on the first home transaction. selling your primary home at a loss is a personal loss and not deductible anywhere. Say more about the home sold at a loss. Your ...
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@zoneman2018 more detail required on the first home transaction. selling your primary home at a loss is a personal loss and not deductible anywhere. Say more about the home sold at a loss. Your personal home, a vacation home, investment property, etc. not tracking how you could have a carryover loss on a prior home sale. Again, more detail required.
yesterday
How to install and Activate the Desktop Download program with a License Code How to install TurboTax CD/Download software with license code
yesterday
where do i enter your license code to access the download option for the 2025 software?? I login to my turbotax account but i did not see the pop up window to enter the license code?
yesterday
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yesterday
Did you use TurboTax to do the federal 1040? if tes, then you can use it to complete the state. if you e-filed through TurboTax you can even e-file the state now. however, there is likley to be an E-...
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Did you use TurboTax to do the federal 1040? if tes, then you can use it to complete the state. if you e-filed through TurboTax you can even e-file the state now. however, there is likley to be an E-file fee
yesterday
i'm a sole proprietor with a SEP IRA... i'm planning to contribute to it is it deductible as this "other retirement contributions after tax" ? in the deductions section of turbo tax?? i'm still c...
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i'm a sole proprietor with a SEP IRA... i'm planning to contribute to it is it deductible as this "other retirement contributions after tax" ? in the deductions section of turbo tax?? i'm still confused. i already got my SEP IRA retirement deduction so that contribution owuldn't qualify for this less common distribution right?
yesterday
Probably because it was entered in the wrong place.
I would delete the entry.
if you are an employee, car registration is only deductible if it is based on value, then on Schedule A as personal ...
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Probably because it was entered in the wrong place.
I would delete the entry.
if you are an employee, car registration is only deductible if it is based on value, then on Schedule A as personal property tax.
for a business like Schedule C it would go in the vehicle expense subsection
yesterday
Turbo Tax NYS is adding my ROTH IRA distribution to my state income. The distribution is "Q"...how do I correct this?
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yesterday
Enter zero if you don't have any "other expenses". If you have other expenses, go ahead and list those items there, although it'd be better to list those items in the proper expense category rather ...
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Enter zero if you don't have any "other expenses". If you have other expenses, go ahead and list those items there, although it'd be better to list those items in the proper expense category rather than in "other expenses" for more transparency.