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Saturday
Here's another link I found. It might explain it better...... If you don't have a Turbo Tax .tax2024 file you can try to transfer a pdf into Desktop Turbo Tax. You can transfer basic information...
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Here's another link I found. It might explain it better...... If you don't have a Turbo Tax .tax2024 file you can try to transfer a pdf into Desktop Turbo Tax. You can transfer basic information if your 2024 PDF is a 1040 return generated through TurboTax, H&R Block, or TaxACT software (Form 1040-SR isn't supported for PDF transfer). This doesn't specify if it's only for Windows or Mac. https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/transfer-last-year-pdf-2021-turbotax-windows-cd/L3EOuaOAL_US_en_US
Saturday
The child care credit will probably increase your refund. But the child care credit is a "nonrefundable" credit. That means that if other credits already reduce your tax to zero, the child care credi...
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The child care credit will probably increase your refund. But the child care credit is a "nonrefundable" credit. That means that if other credits already reduce your tax to zero, the child care credit won't make any difference. In that situation you are already getting your maximum refund. A nonrefundable credit cannot decrease your tax to less than zero.
The only way to know for sure how much benefit you will get from the child care credit is to prepare your tax return. You certainly should enter the child care expense information. It can't hurt, and as I said, it will probably increase your refund.
Saturday
You will not get the childcare credit until (unless) you enter income earned from working. The credit does not work unless you enter your income first. If you are filing a joint return you must s...
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You will not get the childcare credit until (unless) you enter income earned from working. The credit does not work unless you enter your income first. If you are filing a joint return you must show income for both spouses, or show that one or both of you was a student or disabled. If you have self-employment income and show a loss you will not get the childcare credit. You will not get the credit if you are filing married filing separately.
If you have entered all of your income and you have entered your dependent(s) then work on the childcare credit by entering the Tax ID or Social Security number of your childcare provider and enter the amount you paid for the childcare.
One of the most common mistakes that messes up the childcare credit for people is listing all of the earned income under only one name on a joint return. Make very sure that your incomes are listed under each of your names. It’s pretty easy to check. Go to the Income section, and click “update” on Wages and Salary. That will take you to the W-2 Summary. Do you see income listed under both of your names?
The person receiving the care had to be 12 or under or qualified as mentally or physically disabled. To claim the childcare credit you need to be filing as Head of Household or Married Filing Jointly. (NOT married filing separately)
If your child was born in 2025 make sure you say the child lived with you all year. The credit is a percentage of your expenses based on your AGI (the higher the income, the lower the percentage) You must provide the Social Security number for each child you are claiming, and the Social Security number or Tax ID for each care provider.
In the case of divorced or never-married parents—only the custodial parent can use the childcare credit.
And remember that the childcare credit is a NON-refundable credit. It can reduce your tax owed down to zero, but it is not added to your refund.
Saturday
I NEED A COPY OF MY W-2 (or 1099)
W-2's come from employers. There is not a federal or national website that provides W-2’s.
TurboTax does not have a copy of your W-2—the Wage & ...
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I NEED A COPY OF MY W-2 (or 1099)
W-2's come from employers. There is not a federal or national website that provides W-2’s.
TurboTax does not have a copy of your W-2—the Wage & Tax Statement—issued to you by your employer, (nor does TurboTax have copies of your 1099’s). Whether you entered your W-2 by keying it in yourself, importing from a payroll site or by snapping a photo using the mobile app—-TT does not have a copy of your W-2. If you saved a pdf of your completed tax return, the worksheets will show the W-2 information you entered, but not the actual W-2.
You should always save those documents for your own records. You could ask the employer(s) for copies or you can get a copy from Social Security (for a fee of $62).
To get a copy of a W-2 from Social Security https://faq.ssa.gov/en-us/Topic/article/KA-02501
https://www.irs.gov/help-resources/tools-faqs/faqs-for-individuals/frequently-asked-tax-questions-answers/irs-procedures/transcript-or-copy-of-form-w-2/transcript-or-copy-of-form-w-2
You can get a wage and income transcript from the IRS: It will not show the actual W-2, 1099’s, etc, but will show the income information the IRS received. It will not, however, show your state information. It will only show the federal information.
https://www.irs.gov/individuals/get-transcript
Or you can pay the IRS $30 for an actual copy of your tax return which will include copies of your W-2’s
https://www.irs.gov/pub/irs-pdf/f4506.pdf
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-forms/get-copy-w-2/L8FTim9MO_US_en_US?uid=m68ee4os
Saturday
I NEED A COPY OF MY W-2 (or 1099)
W-2's come from employers. There is not a federal or national website that provides W-2’s.
TurboTax does not have a copy of your W-2—the Wage & ...
See more...
I NEED A COPY OF MY W-2 (or 1099)
W-2's come from employers. There is not a federal or national website that provides W-2’s.
TurboTax does not have a copy of your W-2—the Wage & Tax Statement—issued to you by your employer, (nor does TurboTax have copies of your 1099’s). Whether you entered your W-2 by keying it in yourself, importing from a payroll site or by snapping a photo using the mobile app—-TT does not have a copy of your W-2. If you saved a pdf of your completed tax return, the worksheets will show the W-2 information you entered, but not the actual W-2.
You should always save those documents for your own records. You could ask the employer(s) for copies or you can get a copy from Social Security (for a fee of $62).
To get a copy of a W-2 from Social Security https://faq.ssa.gov/en-us/Topic/article/KA-02501
https://www.irs.gov/help-resources/tools-faqs/faqs-for-individuals/frequently-asked-tax-questions-answers/irs-procedures/transcript-or-copy-of-form-w-2/transcript-or-copy-of-form-w-2
You can get a wage and income transcript from the IRS: It will not show the actual W-2, 1099’s, etc, but will show the income information the IRS received. It will not, however, show your state information. It will only show the federal information.
https://www.irs.gov/individuals/get-transcript
Or you can pay the IRS $30 for an actual copy of your tax return which will include copies of your W-2’s
https://www.irs.gov/pub/irs-pdf/f4506.pdf
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-forms/get-copy-w-2/L8FTim9MO_US_en_US?uid=m68ee4os
Saturday
Oh sorry. That first link was how to transfer INTO the Windows TurboTax program, not to Mac. Disregard all that. Here are 2 links for Mac...... How to Transfer into the Mac Desktop program ...
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Oh sorry. That first link was how to transfer INTO the Windows TurboTax program, not to Mac. Disregard all that. Here are 2 links for Mac...... How to Transfer into the Mac Desktop program https://ttlc.intuit.com/turbotax-support/en-us/help-article/data-systems/transfer-last-year-return-2021-turbotax-software/L0SKCGkzn_US_en_US?uid=ldqe65tw How to Transfer a pdf into the Mac Desktop program https://ttlc.intuit.com/community/entering-importing/help/can-i-transfer-from-a-pdf-to-turbotax-for-mac/00/27256
Saturday
Correction: final 1041 filed in 2020. Have read that statute of limitations is 3 years from when first final 1041 was done for 2020 in early 2021. Important to emphasize that there is 5000 of interes...
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Correction: final 1041 filed in 2020. Have read that statute of limitations is 3 years from when first final 1041 was done for 2020 in early 2021. Important to emphasize that there is 5000 of interest income and 3500 of attorneys fees. The income will be reported by NJ to social number of mom who passed away in 2020. Do not want to report to my social number. Want to take deduction and report to estate EIN number on 1041 but not sure if it should be amended with 2020 date or just marked as final for 1041 for 2025. Options:
Saturday
Thanks for the reply. Sorry I forgot to specify I’m on a Mac & do not have a PC. The H&R Block tax file is (My Name) 2024 H&R Block Tax Return.T24 I forgot to add the “.” Making it clear that the ...
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Thanks for the reply. Sorry I forgot to specify I’m on a Mac & do not have a PC. The H&R Block tax file is (My Name) 2024 H&R Block Tax Return.T24 I forgot to add the “.” Making it clear that the file extension is “.T24” I also had made PDF files for my 2024 Return but I’ve read & you just said that pdf will only transfer basic info. It seems like a made a mistake buying the non-returnable TT software from Amazon & should have stuck with H&R Block. I have used TT for many years but last year I found it did not work with my older MacO.S. Monterey v12.7.6. But H&R Block software did! I was able to transfer my prior year TT file to H&R Block & do my 2024 taxes. This year I bought a new Mac (My old one was not able to update the O.S. Apple does that to force customers to buy new Macs) I now run macOS Tahoe 265.2, the latest O.S. Your link: “Transferring from TurboTax Desktop for Mac” Says to copy the last years tax file (Which would be a .T24 file) onto a removable flash drive & copy it to my PC (& change the file extension to “.tax24” (They said .tax23 but In this case I need last years which is 2024) I don’t know if they mean to add the “.tax24” after the “.T24” Or to replace the “.T24” with “.tax24” IDK if I’m then supposed to copy the renamed tax file back to the flash drive & copy it to my Mac & then TT will be able to import it or if they mean I should somehow do taxes on the PC which will not work since I D/L the TT Mac version. I don't really have a PC but do have a very old one, in storage, that belonged to a relative from ~ 9 years ago. Of course I can easily make a duplicate of my H&R T.24 tax file on my mac & change the file extension, replacing the “.T24” with “.tax24” Would that work? Thanks again!
Saturday
I received this note from David on 2/19/25. My additional question relates that most of the interest income from unclaimed property was earned prior to mother’s passing but some of it was earned afte...
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I received this note from David on 2/19/25. My additional question relates that most of the interest income from unclaimed property was earned prior to mother’s passing but some of it was earned after her passing in 2020 and the entire amount will be reported on a 1099 with her social security number and not the estate ein number in 2025. I received a check that included 1099 interest income in 2025 for my mom who passed away in 2020 and in which a final 1040 and 1041 trust income return was filed. The payer, NJ Unclaimed Property says that the 2025 1040 will go to the social security umber of my mom and that can’t be changed. The IRS said that the 1099 should go to the estate ein number and another final 1041 should be filed for 2025. But, NJ won’t change it for 2025 tax reporting. The interest income is $5,000 and legal expenses are $3,500 (which would be deductible on 1041). What do you think? February 19, 2025 6:17 AM Bookmark Icon DavidD66 Expert Alumni You should file an amended 2020 Form 1041 and include the interest and the legal fees. You do not file a personal tax return (Form 1040) to report income received after death. Another option would be to report the interest income on your personal tax return (if there are other heirs, you would split it). You wouldn't be able to deduct the legal fees. The former is the correct way (amended 1041), the later a CYA way to ensure the income is reported. **Say "Thanks" by clicking the thumb icon in a post **Mark the post that answers your question by clicking on "Mark as Best Answer" February 19, 2025 6:31 AM Bookmark Icon ron6612 Level 5 Thank you. Yes, the irs said to just file another 1041 showing only the new income and expense. However, the 1099 would be to the ss number of my mother not the estate ein number?. February 19, 2025 6:37 AM Bookmark Icon DavidD66 Expert Alumni You don't need to worry about the EIN on the 1099. It is for a deceased person and the amount is not significant. It will go unnoticed by the IRS. And if it were, you would be able to show that it was reported on the amended Form 1041. And if your mother were alive, the amount, $5,000 would be below the filing threshold, so they would expect a return to be filed just for that. Just report the interest on the 1041 as if you didn't receive a 1099.
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Saturday
Receiving child care credit would decrease your tax liability and so increase any refund.
Saturday
Are you looking for your tax return? You might have another account. How to view all your accounts https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/many-intuit-accou...
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Are you looking for your tax return? You might have another account. How to view all your accounts https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/many-intuit-accounts-turbotax/L9aVfKS1Z_US_en_US?uid=ll5g6zcx It's common to end up with multiple accounts. First LOG OUT of whatever TurboTax account you're logged into right now. Then use this TurboTax account recovery website to get a list of user ID's for an email address. Run the tool against any email addresses you may have used https://myturbotax.intuit.com/account-recovery/ If you used the Desktop CD/Download program then the only copy is on your computer and not saved or stored online. You can also request a transcript from the IRS https://www.irs.gov/individuals/get-transcript
Saturday
It's incredibly inconvenient to not have this section available before the end of the tax year.
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Saturday
I will receive paperwork from the preschool as well.
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Saturday
@SteamTrain, not an issue in this case, but thanks for the reminder! --Mike
Saturday
1 Cheer
Adding on to @ rjs comment above about desktop software, there is also a way in Online TurboTax to see what tax calculation method(s) were used. It's similar, but the navigation is different. Note:...
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Adding on to @ rjs comment above about desktop software, there is also a way in Online TurboTax to see what tax calculation method(s) were used. It's similar, but the navigation is different. Note: for Online users, this only works for the current year return. With your online return interview open, go to the left column menu and choose the tab TAX TOOLS, then the subtab TOOLS. On the Tools screen choose VIEW TAX SUMMARY. On the Tax Summary screen go to the left menu column and select PREVIEW MY 1040. When the 1040 displays, scroll down to the space between Lines 15 and 16, where you should see a TAX SMART WORKSHEET, which should show the calculations methods that TurboTax is using.
Saturday
As I mentioned above, this is your chance to enter the correct basis on 2025 Form 8606. If IRS has any issues, they will request supporting documentation which you should have ready in your own file...
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As I mentioned above, this is your chance to enter the correct basis on 2025 Form 8606. If IRS has any issues, they will request supporting documentation which you should have ready in your own files. IRS is unlikely to complain if you are correcting downward to a lower basis. @paulalbertson
Saturday
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Your original question said "Quicken." You edited your question to say "TurboTax" after I posted my first reply.
Form 4547 is tentatively expected to by available in TurboTax on January 14. That ...
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Your original question said "Quicken." You edited your question to say "TurboTax" after I posted my first reply.
Form 4547 is tentatively expected to by available in TurboTax on January 14. That date is subject to change, especially since the IRS has not yet published Form 4547 and its instructions.
Saturday
You can take charitable deductions two different ways. 1. Use your personal credit card to document your contributions and use them as an itemized deduction on schedule A. 2. A preferable way is...
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You can take charitable deductions two different ways. 1. Use your personal credit card to document your contributions and use them as an itemized deduction on schedule A. 2. A preferable way is to take a qualified charitable distribution from your RMD which has the advantage of lowering your AGI. That contribution must be made through your RMD account with the check sent by your fiduciary to the charity or to you but the check from the fiduciary made payable to the charity. Only if your credit card is tied to your IRA would that work for this type of contribution.