turbotax icon
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

All Posts

ps I tried the edit button but could not enter the 3000.
I have two children in college and received a 1098-T for each of them. For one of them, I paid the college directly and was reimbursed from their 529. I received a 1099Q for this distribution. The ot... See more...
I have two children in college and received a 1098-T for each of them. For one of them, I paid the college directly and was reimbursed from their 529. I received a 1099Q for this distribution. The other did not use a 529 account.   When I enter the 1099Q for child 1, and the 1098-T for child 1, it shows a partial AOTC. This is correct since I didn't have the full $4,000 difference between the two payments.   When I enter the 1098-T for child 2, it shows the same AOTC as child 1! It appears that Turbo Tax is using child 1's 1099Q for calculating the AOTC for child 2? I have more than $4000 in expenses for child 2, so I should get the full $2,500 credit, right?   If I delete the 1099Q, both children's American Opportunity Credit go up to $2,500.   If I add the 1099Q back, both children's credits drop to $2,315.   How do I fix this?
What a bummer!!!   Why would they remove being able to upload 1099-R pdf's?  I asked my browser's Search Assistant about Turbotax 2025 vs. 2024 and it replied.     Many users have reported that the... See more...
What a bummer!!!   Why would they remove being able to upload 1099-R pdf's?  I asked my browser's Search Assistant about Turbotax 2025 vs. 2024 and it replied.     Many users have reported that the TurboTax 2025 version has deteriorated in quality and user experience compared to 2024, citing issues like inefficient processes and difficulties with importing data. This has led to dissatisfaction among long-time users who feel the software is no longer intuitive or user-friendly.   You can say that again!  
I put up a block of money for the Director to use for costumes, camera rentals, location fees, etc
Check back this weekend @andyzhen .   It will be a part of the next update, which happens at least every Friday night.   
You cannot deduct your rent.  It doesn't matter if you are a student or not.  If you bought a new vehicle in 2025 that was assembled in the United States, you can deduct up to $10,000 in interest on ... See more...
You cannot deduct your rent.  It doesn't matter if you are a student or not.  If you bought a new vehicle in 2025 that was assembled in the United States, you can deduct up to $10,000 in interest on a loan for that vehicle.  Otherwise, you cannot deduct interest on a car loan.
You wouldn't include the 48 days of vacancy in the "number of days rented out" field, or the "personal use" field.  It will not be included in any of the fields.   Here's a direct link to the IRS... See more...
You wouldn't include the 48 days of vacancy in the "number of days rented out" field, or the "personal use" field.  It will not be included in any of the fields.   Here's a direct link to the IRS instructions on this specific section: Sch E (1040) instructions
Ran into the same issue, even though I answered 100% for the percentage: https://ttlc.intuit.com/community/tax-credits-deductions/discussion/got-incorrect-the-net-profit-for-your-real-estate-work-was... See more...
Ran into the same issue, even though I answered 100% for the percentage: https://ttlc.intuit.com/community/tax-credits-deductions/discussion/got-incorrect-the-net-profit-for-your-real-estate-work-was-zero-or-[product key removed]-you-can-t-claim/01/3876741#M369421
Whether or not you can deduct the property tax "paid" at closing depends.  If some or all of the tax was to set up your escrow account, that is not deductible, as you didn't actually pay the tax, you... See more...
Whether or not you can deduct the property tax "paid" at closing depends.  If some or all of the tax was to set up your escrow account, that is not deductible, as you didn't actually pay the tax, you just set money aside in your escrow account so the mortgage company could pay the tax when due.  If you paid prorated tax as reimbursement to the seller for your share of the property tax they already paid, that is deductible.  If you paid other taxes, like intangibles tax, real estate transfer tax, etc. those taxes are not deductible.  Also, you may have received a credit for the sellers prorated tax if the taxes had not yet been paid at the time of the closing.     Once you determine the actual amount of property tax you paid, if they were not reported on, and entered with the 1098, you can  enter the amount by going to:   Federal Deductions & Credits Property (Real Estate) Taxes Enter you property tax paid You might want to look up your property tax bill on your county tax assessor or tax commissioner's website and then reconcile what you paid or received at closing, and what you paid through your escrow account or out of pocket with the property tax bill.    
Will this article help?  Where to enter waiver payments https://ttlc.intuit.com/turbotax-support/en-us/help-article/form-w-2/qualified-medicaid-waiver-payments-w-2-show-earned/L1XZa89dh_US_en_US 
I have the same problem. Don't select anything and just continue. After a few "continue" clicks, it will ask for box 12 code again and then they have option II for you to select.
I am having the same problem - unable to e-file CA Form 541.  The e-file is rejected but TurboTax says there is no error in the return. How does one proceed from here?
@crkumar77    Yes I was able to resolve this, but it took me all of a weekend to figure out.  TT does not make reporting for pro rata very easy until you understand a few things.  I had replied ear... See more...
@crkumar77    Yes I was able to resolve this, but it took me all of a weekend to figure out.  TT does not make reporting for pro rata very easy until you understand a few things.  I had replied earlier but my reply is gone.  I see someone else has answered your question, but I will reiterate how I did mine: 1.  First step in the backdoor Roth is to enter the Traditional IRA.  Do not checkmark that you recharacterized it if the wizard asks.  This is NOT the same as a backdoor roth, which is called a conversion.  You will report the conversion later. 2.  Next, enter your 1099-R exactly as reported.  This is how TT captures the conversion.  If the wizard asks you can say this was a complete conversion from the Trad.  This step will empty the Trad to zero at 12/31. 3.  When asked for all 12/31 balances of any SEP, SIMPLE or other Trad IRA's, enter that dollar amount.  This moves the needed amounts over to Form 8606 for pro rata calcs.  If you had basis from the previous year, that will also be answered through the wizard. 4.  Check Form 8606 now - you should have pro rata numbers on lines 13, 14 (basis that will roll into the next year), 16,17 and 18.  The number on line 18 transfers to line 4b on the 1040 and is your taxable pro rata amount. That's how I did it and it was verified correct by my CPA. Hope that helps
You should have a 1095-A for that.     where to enter a 1095A https://ttlc.intuit.com/community/credits-and-deductions/help/where-do-i-enter-my-1095-a/00/26456
I received a 1099-B from Edward Jones which has the section: "Unknown Transactions for Which Basis is not Reported to the IRS".  This section has four sales listed with 0 quantity sold (Box 1a), "Unk... See more...
I received a 1099-B from Edward Jones which has the section: "Unknown Transactions for Which Basis is not Reported to the IRS".  This section has four sales listed with 0 quantity sold (Box 1a), "Unknown" date acquired (Box 1b), an actual date sold (Box 1c), $0 Proceeds (Box 1d), "Unknown" cost or other basis (Box 1e), and "unknown" or 0 for all other boxes.  Edward Jones said these are listed this way due to cancelled sells.   TurboTax didn't import the unknown values for 1b and 1e and is giving me errors about them being blank.  I can't enter unknown for either box, and 1e requires a dollar value.   Since the quantity and proceeds are zero, can I just remove these items completely?  Do I enter various for the date and $0 for the cost basis?
When in doubt, use the 80/20 rule.  80% of the total sales price (and expenses) is allocated to the "Asset" (aka building), and the remaining 20% is allocated to the land.  80/20 is the general alloc... See more...
When in doubt, use the 80/20 rule.  80% of the total sales price (and expenses) is allocated to the "Asset" (aka building), and the remaining 20% is allocated to the land.  80/20 is the general allocation % between building and land that is commonly used in the tax prep world.
Here we are in 2026 and this error STILL exists!  I just spent HOURS trying to figure this out and finally found this thread.  Imagine the many thousands of dollars people must have overpaid over the... See more...
Here we are in 2026 and this error STILL exists!  I just spent HOURS trying to figure this out and finally found this thread.  Imagine the many thousands of dollars people must have overpaid over the years due to this.  Hey Intuit...are you getting a kickback from the IRS for this? Why else wouldn't you fix it by now???