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yesterday
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There is section that you select that says State estimated taxes for 2025. That is where you enter your estimated tax payments that you made for your Ohio estimated tax payments.
yesterday
1 Cheer
You enter state estimated payments on the federal side. One reason is because they can be a federal deduction if you itemize. In fact you enter most everything under the federal side and it will fl...
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You enter state estimated payments on the federal side. One reason is because they can be a federal deduction if you itemize. In fact you enter most everything under the federal side and it will flow to the state.
yesterday
For navigation instructions, refer to the TurboTax article Can I deduct medical expenses.
Review the TurboTax articles: The Ultimate Medical Expense Deductions Checklist and Are Medical Expense...
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For navigation instructions, refer to the TurboTax article Can I deduct medical expenses.
Review the TurboTax articles: The Ultimate Medical Expense Deductions Checklist and Are Medical Expenses Tax Deductible? for more information about medical expense deductions.
yesterday
@DaveF1006 so just realized one issue - ordinary business income is negative, so even if active the losses are still passive. That is why it is not appearing on Form 3800. However - Form 8582-CR...
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@DaveF1006 so just realized one issue - ordinary business income is negative, so even if active the losses are still passive. That is why it is not appearing on Form 3800. However - Form 8582-CR does not appear unless I uncheck "Check if rental of property is a type subject to recharacterization rules". Once that check is removed the Form 8582-CR appears with all info properly recorded for carryover credit. I need that checkbox checked as there is self-rental, but I do not see where this credit ends up.
yesterday
1 Cheer
You don't owe any income tax on your income. The most you can get back is the amount of federal tax withholding. You probably don't qualify for any of the refundable credits like the EIC.
yesterday
I did a price comparison with H&R Block. Its $25 cheaper than TurboTax and has its own application like itsDeductible. I don't see any reason to stay with TurboTax now. How to Use DeductionPro | ...
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I did a price comparison with H&R Block. Its $25 cheaper than TurboTax and has its own application like itsDeductible. I don't see any reason to stay with TurboTax now. How to Use DeductionPro | H&R Block
yesterday
I am a current unit holder of EPD and received a K-1. Part II, items J, K and L on the K-1 contain both beginning and ending values - but TT did not prompt me for this information. After completin...
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I am a current unit holder of EPD and received a K-1. Part II, items J, K and L on the K-1 contain both beginning and ending values - but TT did not prompt me for this information. After completing the K-1 interview and subsequently checking in Forms Mode, I could see that only the beginning values are there for items J, K and L, and all other values are missing. How do I correct this so my carryovers for 2026 are correct?
yesterday
That is FEDERAL the question is about OHIO State
yesterday
I followed exactly what the Intuit tax expert advised when I inherited money internationally in 2023. Here's some additional advice although I'm not a tax consultant. Just an average guy (engineer b...
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I followed exactly what the Intuit tax expert advised when I inherited money internationally in 2023. Here's some additional advice although I'm not a tax consultant. Just an average guy (engineer by training) trying to keep the IRS happy and get my taxes done. You only have to file the 3520 once, for the one-time inheritance. Afterwards, if you keep the money internationally, any dividends or interest needs to be declared as income on your annual 1040 tax return. Next, all foreign holdings need to be declared annually when you submit your income taxes on Form 8938 (Statement of Specified Foreign Assets). If you have >$150,000 USD in foreign assets, you also have to annually complete a FBAR (Foreign Bank & Financial Account Report, FinCEN Form 114) directly to the U.S. Treasury. All accounts must be reported to the U.S. Treasury, not just the ones >$150,000. For example, I had to report 4 different accounts, but only one of those was >$150,000. The U.S. Treasury website for filing the FinCEN Form 114 online (it's really easy) is: https://bsaefiling.fincen.gov The easy way would have been to bring all asset from foreign entities into the USA, but the $USD has been rather strong so I'm waiting for an opportune time when FOREX rates are more favorable. I must be doing everything correctly because I've received no audits or requests for additional information from the IRS or the U.S. Treasury. I hope this helps out the Intuit Tax community.
yesterday
I'm working up a test case for my 2026 taxes using TT Deluxe 2025. I retired at the end of 2025. My income is simple: 1099-SSA 35000 1099-R qualified pension 12000 Total income 47...
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I'm working up a test case for my 2026 taxes using TT Deluxe 2025. I retired at the end of 2025. My income is simple: 1099-SSA 35000 1099-R qualified pension 12000 Total income 47000 TT says I'm owed the full 10% of taxes withheld back. 4700 My unreimbursed 2026 medical expenses for 2026 is at least 20000. Why does TT say a 20000 deduction still gives me the same refund of 4700 as the standard single deduction of 15750 would? Also, why is TT saying I don't owe ANY Federal taxes and refunding the entire 10% / 4700 withheld?
yesterday
You deduct the portion of your pay only representing the overtime amount. If your hourly rate is $20 an hour and you get time and a half for overtime you would be paid $30. But only the additional $1...
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You deduct the portion of your pay only representing the overtime amount. If your hourly rate is $20 an hour and you get time and a half for overtime you would be paid $30. But only the additional $10 is deductible.
yesterday
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yesterday
That's not the answer I wanted but it does explain things. Thank you. doriopsilla
yesterday
Hi TaxDean... I'm not understanding your story, sorry. Is this the story? During 2025 you sold all of your shares of your company stock with a value equal to your NUA as shown in Box 6 of your 10...
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Hi TaxDean... I'm not understanding your story, sorry. Is this the story? During 2025 you sold all of your shares of your company stock with a value equal to your NUA as shown in Box 6 of your 1099-R you received when you did the NUA. You paid the tax on the cost basis for the NUA shown in Box 2a on the 1099-R in the year you did the NUA. In addition to the shares equal to your NUA, you sold other holdings which brought capital gains in addition to the NUA. If the above is correct, then on the Federal return, you report the sale of the shares equal to the NUA as LTCG's. The NITT is deducted from the LTCGains in the Worksheet for Form 8960 as we have discussed in our prior conversations. While I don't have TTax for a California return, I would expect that TurboTax will import the federal information and make the adjustments from LTCG to ordinary income rates. The NITT deduction shouldn't be affected since it is part of the Federal return. Reference your questions: For the Fed, as I sell, I pay capital gains tax on all the profit (although only NIIT on a fraction of that profit). I believe you are correct but without details, I would not be able to answer this. Gains could be LT or ST depending if NUA or gains beyond the NUA or other sales depending on the holding period. Doesn't it make sense that I would pay tax on the same profit on my state return (albeit, at ordinary income rates since my state doesn't allow capital gains rates)? I can't address this since I don't have TTax for CA. The IRS accepted both the 2024 and 2025 returns without adjustment.>>, is that just some automated notice that everyone gets from TurboTax and does it really mean much other than that the IRS has received your tax return? The notice comes from the Fed and State via TurboTax. It only means the IRS and State have received your returns and have validated the basic structure and the initial automated screening. I received acceptance notices for both Fed and State within a few hours of filing electronically.
yesterday
Type letme (no space between let & me) in the search box. Then press enter. Then click on the link "jump to letme''.
TT will give you the option to select another tuition credit or deduction.
...
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Type letme (no space between let & me) in the search box. Then press enter. Then click on the link "jump to letme''.
TT will give you the option to select another tuition credit or deduction.
or (sometimes)
Type letme (no space between let & me) in the search box. When the dropdown list appears, click on letme rather than "jump to letme'. On the next drop down, click on the "jump to letme” link.
yesterday
Follow up - I did go into Form 8889-T and manually enter but the worksheet thinks i am 55 or under for all of 2025 when i am 69 at present - frustrating that Turbo Tax is so kludgy.
yesterday
I'm an EPD unitholder. My K-1 has a negative capital account (-$7,856) but large nonrecourse liabilities ($41,434). I'm in Forms Mode and don't see any of ending basis information on the K-1 Partner ...
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I'm an EPD unitholder. My K-1 has a negative capital account (-$7,856) but large nonrecourse liabilities ($41,434). I'm in Forms Mode and don't see any of ending basis information on the K-1 Partner Worksheet in Part II items J, K and L. Specifically I am missing ending partners share profit, loss, & capital (J), partners share of liabilities (K), and all information in the Partners Capital Account Analysis section (L) except for the beginning capital account. How do I trigger the Step-by-Step interview to ask for this information so my 2026 carryover is correct? Can it be entered in forms mode if necessary?
yesterday
Can I work on the tax forms later tomorrow?
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