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yesterday
Just completed my 2025 federal and state tax returns and viewed the printed form before filing. I’m getting a refund for both federal and state, but my preview form shows estimated tax payments of $5...
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Just completed my 2025 federal and state tax returns and viewed the printed form before filing. I’m getting a refund for both federal and state, but my preview form shows estimated tax payments of $5,208 per quarter. What’s up with this?
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yesterday
I did an ETA (edit to add) that you may have missed as I did it just before your response popped up. Also, I'm using the Windows Deluxe client and not the online version.
yesterday
I’m an expat living and working in Canada. This year I have to also file a 1042-S, I closed out my US retirement and paid the required 30% tax. I followed information I found here on how to put the i...
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I’m an expat living and working in Canada. This year I have to also file a 1042-S, I closed out my US retirement and paid the required 30% tax. I followed information I found here on how to put the information on my US taxes and want to know if this information was correct because I feel as if I’ve missed a step. Help?? This is the info I used below Here is the complete procedure to report, which includes the income tax withheld. Open your return in TurboTax Click on Wages & Income Scroll down to All Income Scroll down to Less Common Income Scroll down to Miscellaneous Income, 1099-A, 1099-C Click start Scroll down to Other reportable income Answer yes and record this as 1042S income and then the amount. Now to report the tax withheld. With your return open Click on Deductions & Credits Scroll down to Estimates and Other Taxes Paid\ Click on Other Income Taxes Scroll down Other Income Taxes Click on Withholding not already entered on a W-2 or 1099
yesterday
How can we fix this with amended tax return? This is frustrating since we paid over 100 dollars for this service.
yesterday
Yes, that may be the reason. Try deleting the dependent, closing TurboTax, clearing your cache and deleting your cookies.
Review the TurboTax Help article How to clear your cache and How do I...
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Yes, that may be the reason. Try deleting the dependent, closing TurboTax, clearing your cache and deleting your cookies.
Review the TurboTax Help article How to clear your cache and How do I delete cookies? for specific instructions for your browser. Also, reboot your computer.
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Then add them back
You can add your dependents in the Personal Profile section of TurboTax.
Go to the Personal Info screen and select Continue
You should be at the Summary Screen
Select Add Another Dependent under Your Household
Select Delete next to the name to remove them.
Review the TurboTax Help article How do I add or remove a dependent? for navigation instructions.
yesterday
Did you meet the filing requirements for a dependent in 2024?
Tax requirements for dependent children are different from those of other taxpayers.
A dependent child who has earned more...
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Did you meet the filing requirements for a dependent in 2024?
Tax requirements for dependent children are different from those of other taxpayers.
A dependent child who has earned more than $14,600 of earned income (tax year 2024) typically needs to file a personal income tax form. Earned income includes wages, tips, salaries, and payment from self-employment.
A dependent child who receives more than $1,350 in investment income in 2024 is required to file a tax return. Investment income includes interest and dividend payments.
See 2024 IRS form 1040 Instructions, page 9 and 10.
yesterday
Use Other/Not classified.
yesterday
The ONLY form with the Red Exclamation point is the TAX SUMMARY form. I went through every form on my Return; no input fields were Red, indicating error/Estimated. I haven't opened the software in ...
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The ONLY form with the Red Exclamation point is the TAX SUMMARY form. I went through every form on my Return; no input fields were Red, indicating error/Estimated. I haven't opened the software in a month, and now I have this issue on the Tax Summary saying that StdLiab and ItemLiab are incorrect. Pro Tip: Don't tell me, TAKE ME to the form with the issue. Since there is nothing that I can update on the Tax Summary page, I question the programming Also, since i am debugging your code, I used the Errors Icon on the Forms Page, along with the Forms Menu "Select Next Error" and "Select Previous Error" and I only ever jump to the Tax Summary form. In summary. I get 2 Errors when I do the Error Check. It shows me the Tax Summary Screen. It tells me that StdLiab and ItemLiab are incorrect. Opening the Forms screen, the only form with Exclamations next to it the Tax Summary Screen. Also, the Find Next/Previous Error do nothing but keep coming to the form. I CHECKED EVERY LINE (even the blank ones) on that form and they are not Estimated. This is bad code. Leaving the User with an unsolvable error message.
yesterday
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yesterday
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yesterday
You can't deduct your sales tax if you are not itemizing your deductions. it must be itemized on Schedule A. Sales tax is part of the State and Local Tax (SALT) deduction, capped at $40,000 for 202...
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You can't deduct your sales tax if you are not itemizing your deductions. it must be itemized on Schedule A. Sales tax is part of the State and Local Tax (SALT) deduction, capped at $40,000 for 2025 that is only available when you itemize your deductions.
Investment interest expense (margin) is deductible only up to your net investment income, and it also requires itemizing your deductions.
See Also:
Can I claim the sales tax deduction?
How to Write Off Sales Taxes
What is Form 4952: Investment Interest Expense Deduction
Please return to Community if you have any additional information or questions and we would be happy to help.
yesterday
Thanks. Is that OK to take the difference between what I got and what the Return of Excess was supposed to be and just use it towards expenses? Do I need to get Fidelity, who is my HSA administrator,...
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Thanks. Is that OK to take the difference between what I got and what the Return of Excess was supposed to be and just use it towards expenses? Do I need to get Fidelity, who is my HSA administrator, to issue some kind of paper to reflect that? I guess my concern is that I requested the return of funds as return of excess and since the overage is part of that RoE, that the taxes won't be computed properly since there are earnings to report. -Ben
yesterday
Your 403(b) contributions should be included in your New Jersey income as a Wage Adjustment. Unlike federal law, New Jersey does not allow exclusions for contributions to deferred compensation plans...
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Your 403(b) contributions should be included in your New Jersey income as a Wage Adjustment. Unlike federal law, New Jersey does not allow exclusions for contributions to deferred compensation plans other than 401(k) plans. If not included, contributions to 403(b) plans must be added back to NJ taxable wages. Make sure the amount in Box 16 does not already reflect the adjustment.
yesterday
You will want to wait until 2026 to start deducting your business expenses. Startup costs are not deductible in the year they are paid if the business has not yet launched. Instead, you "capitalize"...
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You will want to wait until 2026 to start deducting your business expenses. Startup costs are not deductible in the year they are paid if the business has not yet launched. Instead, you "capitalize" them and claim them in the first year your business is active—in your case, March 2026.
You will be able to deduct up to $5,000 of any of the Startup expenses in 2026, any additional amount will have to be amortized (deducted over the next 15 years).
If you were already practicing as a Reiki practitioner and this training improved your existing skills for that business, it is generally deductible. If the Master Level training is considered a requirement to enter a new profession or a different type of practice you weren't previously qualified for, it is not deductible.
I wish you continued success in your venture!
yesterday
TurboTax automatically calculates the additional senior deduction based on your date of birth and your income. You will see it on Schedule 1a, line 13b of your 1040 form. There is nothing extra that ...
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TurboTax automatically calculates the additional senior deduction based on your date of birth and your income. You will see it on Schedule 1a, line 13b of your 1040 form. There is nothing extra that you need to do.
Taxpayers who are 65 and older may qualify for the additional deduction of $6,000 ($12,000 for MFJ). To be eligible for the additional deduction, you must meet the eligibility criteria below:
Be 65 or older by December 31, 2025
File Married filing Jointly if married
Modified adjusted gross income under $75,000 ($150,000 for MFJ). The deduction phases out for taxpayers above this income
Review the TurboTax articles Tax Counseling for Seniors and the IRS Fact Sheet Deductions for Seniors for more information.
yesterday
IIT2025-0072 - AR1000F - Missing Information: Other state tax return(s) not included in the submission for the other state tax credit claimed.
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yesterday
TurboTax AI tells me that simply because I chose the "mail check" option for paying tax due, the Form 8453 is generated with the box for mailing Form 8949 checked by default per IRS requirements. Thi...
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TurboTax AI tells me that simply because I chose the "mail check" option for paying tax due, the Form 8453 is generated with the box for mailing Form 8949 checked by default per IRS requirements. This is even if there were no summary sales of assets. I had actually paid the tax due using IRS Direct Pay and checked the "Mail Check" box only because the only other options available in TT were "Direct Debit to Bank account" and "Pay by credit card". As I dont actually need to mail check, I assume I dont need to mail Form 8949 either? Why does TT check the Form 8949 by default, if the "Mail Check" option is selected? Why would this be an IRS requirement?
yesterday
Thanks for the guidance. I tried to delete the return but since I had paid for e-filing already, it wouldn't let me. I have no idea what I did, but it now works and my return was successfully filed.
yesterday
Form 2210 is Underpayment of Estimated Tax, it's calculated but not filed by default unless you have an exception. If you are using desktop you can view the form in Forms mode (2210-F is for farmers...
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Form 2210 is Underpayment of Estimated Tax, it's calculated but not filed by default unless you have an exception. If you are using desktop you can view the form in Forms mode (2210-F is for farmers and fishermen). This is asked under Other Tax Situations / Underpayment Penalties and normally carried over from 2024 return but Turbotax will ask to confirm it in that section. Not sure where you are in the interview flow but where is one reference to it. Per Form 2210, to avoid penalty in 2025 you need to have paid thru withholding or timely (usually quarterly) estimated taxes, the smaller of - 100% of your 2024 tax (110% if AGI > 150k or 75k if filing MFS), or 90% of your 2025 tax. this is your "safe harbor" amount of tax you need to pay to avoid penalty. "tax" here refers to this Line 4 definition. It's generally Line 22 of your 1040 plus certain additions from Schedule 2, less refundable credits, see instructions here https://www.irs.gov/pub/irs-pdf/i2210.pdf