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yesterday
I have received a K-1 (Form 1065) from EPD. It has a box 20 Code Z1 with a negative value. The instructions include the note: Code Z1 – Statement A - Section 199A Publicly Traded Partnership...
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I have received a K-1 (Form 1065) from EPD. It has a box 20 Code Z1 with a negative value. The instructions include the note: Code Z1 – Statement A - Section 199A Publicly Traded Partnership (PTP) Income. Use this amount to compute your Section 199A Qualified Business Income Deduction. Generally, you can deduct up to 20% of your qualified publicly traded partnership income. This amount is reportable on Form 8995. This amount is reported here in lieu of reporting it on Statement A of the Form K-1. Note this amount does not include Box 20AB, Section 751 gain (loss) from the sale of units, if applicable. How do I use this in turbotax? Thanks!
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yesterday
@KGMoore Read the top very first paragraph on that for installment payments.
yesterday
1 Cheer
Some TurboTax customers may see the Capital Asset Sales showing incomplete when all fields are completed.
The Capital Asset Sales Worksheet is related to your issues with the 1099-DA.
Y...
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Some TurboTax customers may see the Capital Asset Sales showing incomplete when all fields are completed.
The Capital Asset Sales Worksheet is related to your issues with the 1099-DA.
You may receive progress updates by signing up here.
@nobody-22
yesterday
I also reviewed my return. After removing my override and selecting "Average Share" for valuation method, my return showed no errors. Form 8283 now properly reflects "Avergar Share". I was then ab...
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I also reviewed my return. After removing my override and selecting "Average Share" for valuation method, my return showed no errors. Form 8283 now properly reflects "Avergar Share". I was then able to efile!
yesterday
Here's the glitch in Turbotax that needs fixing. As you go through inputting the 2024 lump sum, you come to page stating, "Now, let’s look at your 2024 form If you received benefits in 2024 that...
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Here's the glitch in Turbotax that needs fixing. As you go through inputting the 2024 lump sum, you come to page stating, "Now, let’s look at your 2024 form If you received benefits in 2024 that were already reported on your 2024 tax return, there will be an amount in box 5 of your Form SSA-1099." It then prompts you to input: "Amount in box 5 of your 2024 Form SSA-1099." But this is the wrong amount to input apparently. As you have noted, what you should input here is the TAXABLE AMOUNT of your prior year SS benefits, which is lower than your total benefit (in my case by 85%). This needs to be fixed in Turbotax to direct users to input the taxable amount from their return and not the total benefit.
yesterday
I am using Windows Desktop Version of Home and Business. I have been using Turbo Tax since 2004. I did click on Amend a Filed Return (Refile a Return That Has Been Accepted by the IRS). The pr...
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I am using Windows Desktop Version of Home and Business. I have been using Turbo Tax since 2004. I did click on Amend a Filed Return (Refile a Return That Has Been Accepted by the IRS). The process was simple. The printed product makes it confusing because the cover sheet in the second block says, " Your amended tax return - Form 1040-X. Remember to sign and date the return. Be sure to attach all forms or schedules that changed to your amended return." BUT The first viewable page is a1040-SR, not a 1040X. Above that page there are 2 blank pages. Could it be that is where the 1040X is supposed to be and the program has a bug or has not been updated? That is the only sense I can make out of this. Need a Turbo Tax tech employee to look at this and provide an answer, PLEASE. Thanks
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yesterday
Original mortgage was paid in full. Since 2018 I have had a HELOC on my residence. Outstanding mortgage principal was $6,000 as of 1/1/2025. In 2025, I withdrew HELOC funds throughout the year which ...
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Original mortgage was paid in full. Since 2018 I have had a HELOC on my residence. Outstanding mortgage principal was $6,000 as of 1/1/2025. In 2025, I withdrew HELOC funds throughout the year which totaled $140,000. These funds were used for home equity debt and for home improvement ($3,800). Ending balance for 2025 was $112,000 since some of the home equity principal was repaid during the year. Total interest paid for 2025 was $4500. Which set of calculations below should be used to determine deductible home interest? Option 1. TURBO TAX CALCULATION: From the Home Interest Worksheet for Schedule A Home Acquisition Interest =total interest paid x (acquisition debt/ending principal balance) $4500 x ($3800/$112,000) =$152 Option 2. USING PUBLICATION 936, TABLE 1 Line 11: Qualified Loan Limit which is the same as home acquisition debt= $3800 Line 12: Calculated the sum of average monthly balances for home equity debt and home acquisition debt =$69,000 Line 13: total interest paid=$4500 Line 14: Line 11 divided by Line 12. $3800/$69000=0.055 Line 15: Deductible Home Interest: Line 13 multiplied by Line14. $4500 x .055=$247 While Option 2 (Pub 936) results in the highest deductible home interest, it requires override of values calculated in Turbo Tax. Option 3. MY CALCULATIONS BASED ON TIMING OF HOME IMPROVEMENT The home improvement costs were incurred in Sep 2025. Ave monthly interest rate =0.693 Time=4 months A=$3800 (1+0.0693/12) e(12x4/12) A=$3,889 Deductible Home Interest =$3889-$3800=$89 I recognize that the amounts are small, but I want to understand the correct calculation method.
yesterday
Technically it's not needed since your are the court appointed Personal Representative. File Form 1310 because it will help and move the return along if there is a refund. Follow the instructions in ...
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Technically it's not needed since your are the court appointed Personal Representative. File Form 1310 because it will help and move the return along if there is a refund. Follow the instructions in the link below to file this form with the return if you choose.
Can I file Form 1310 in TurboTax?
We are sorry for your loss.
yesterday
Royalties would normally be reported on a Form 1099-MISC, in box 2. If you entered that form in TurboTax, then you need to enter the amount in box 2 in response to the question you posted. If you di...
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Royalties would normally be reported on a Form 1099-MISC, in box 2. If you entered that form in TurboTax, then you need to enter the amount in box 2 in response to the question you posted. If you didn't enter a Form 1099-MISC and did not receive royalty income in 2025, you can see if there is a Form 1099-MISC in your program in error and if so, you can delete it as follows:
1. Choose the Tax Tools option on your left menu bar while working on your return
2. Choose Tools
3. Choose the Delete a form option under Other Helpful links
4. Find the Form 1099-MISC in the list and delete it
yesterday
1 Cheer
Please clarify. Are you getting error messages that pertain to Box 14 of Forms 1099-R?
As @RogerD1 stated, if your question is related to a 1099-R giving an error because the state withholdings...
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Please clarify. Are you getting error messages that pertain to Box 14 of Forms 1099-R?
As @RogerD1 stated, if your question is related to a 1099-R giving an error because the state withholdings are greater than the state distribution, you can go back to the 1099-R. On the screen to "Enter your 1099-R details from [custodian]", you can enter the Box 1 Gross distribution amount in Box 16-State distribution and that should clear this error.
Boxes 14, 15, and 16, the state section of the form, are related. TurboTax will determine there is an error if, for example, there is a dollar amount in Box 14 but no information in 15 or 16.
See this tax tips article for more information about Form 1099-R.
@user17736844270
yesterday
How do I report to Intuit a software error found in TurboTax?
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yesterday
You can log into ARAG (Will Builder) from the link here >> Will Builder ARAG - login from the top right corner. Or you can click on Individuals and sign in from there. @megpete36
How ...
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You can log into ARAG (Will Builder) from the link here >> Will Builder ARAG - login from the top right corner. Or you can click on Individuals and sign in from there. @megpete36
How do I get started with my Will Builder account?
What's Will Builder by ARAG® in TurboTax?
yesterday
This is the correct answer for 2024, but California has since changed the rules. See https://www.ftb.ca.gov/forms/2026/2026-540-es-instructions.pdf. There should be a voucher #3 generated for Septemb...
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This is the correct answer for 2024, but California has since changed the rules. See https://www.ftb.ca.gov/forms/2026/2026-540-es-instructions.pdf. There should be a voucher #3 generated for September. It may be the same bug or a new bug, but TurboTax 2025 has a bug in the "Estimated Payments to Make for Next Year's Return" section of the "File by Mail Instructions for you 2025 California Tax Return." It lists Voucher Number 1, 2, and 4, but no 3 and the amounts are using the old/unequal distribution.
yesterday
Age doesn't matter with inherited. Is that a glitch in the system? I have several years returns that I now see that it was missed even though I always enter the information. I did fix it manually thi...
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Age doesn't matter with inherited. Is that a glitch in the system? I have several years returns that I now see that it was missed even though I always enter the information. I did fix it manually this year.
yesterday
Thank you for responding in detail. I called TT on a question I had about CA health coverage and also asked about this Form 8889-S. The agent said to delete it as it's for spouse and I'm filing sin...
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Thank you for responding in detail. I called TT on a question I had about CA health coverage and also asked about this Form 8889-S. The agent said to delete it as it's for spouse and I'm filing single doesn't apply.
yesterday
The confusing part -Social Security and Medicare tax withheld by state on state disability payments. The TurboTax question does not explain that this question is only for a few specific states that r...
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The confusing part -Social Security and Medicare tax withheld by state on state disability payments. The TurboTax question does not explain that this question is only for a few specific states that require state disability insurance be withheld from the employees paycheck. They are CA, HI, NJ, NY, RI and PR. If you do not live in one of those states, enter zero. If you do, enter the amount that was withheld from your employee's paycheck.
While the state amount for SDI/ TDI does not go on Sch H, the program is looking for which state with which rules may have some other application for you.
Reference: What is Sch H
yesterday
1 Cheer
There is no tax deduction or credit for room and board. If there was, you would not be able to take the deduction or claim the credit using the distribution from the 529 plan (unless you treated the...
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There is no tax deduction or credit for room and board. If there was, you would not be able to take the deduction or claim the credit using the distribution from the 529 plan (unless you treated the distribution as taxable). Similarly, you cannot take education credits for tuition paid with 529 plan funds. If the distribution from the 529 plan was used solely to pay room and board for you son while attending college, neither you nor your son needs to report the 1099-Q.
yesterday
Does your experience qualify as a theft? IRS Tax Topic 515 defines a theft as: A theft is the taking and removal of money or property with the intent to deprive the owner of it. The taking must...
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Does your experience qualify as a theft? IRS Tax Topic 515 defines a theft as: A theft is the taking and removal of money or property with the intent to deprive the owner of it. The taking must be illegal under the law of the state where it occurred and must have been done with criminal intent. The amount of your theft loss is generally the adjusted basis of your property because the fair market value of your property immediately after the theft is considered to be zero......... Individual taxpayers may also be able to deduct theft losses incurred in a trade or business or a transaction entered into for profit. IRS Tax Topic 515 explains how to report the theft under Claiming the Loss. In TurboTax Online Premium, enter under Deductions and Credits / Other Deductions and Credits / Disasters, theft and other property loss or damage. Report casualty and theft losses For losses involving business-use property, refer to Publication 584-B, Business Casualty, Disaster, and Theft Loss Workbook.
yesterday
I will restate that I am using Windows Desktop Version of Home and Business. I have been using Turbo Tax since 2004. I did click on Amend a Filed Return (Refile a Return That Has Been Accepted b...
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I will restate that I am using Windows Desktop Version of Home and Business. I have been using Turbo Tax since 2004. I did click on Amend a Filed Return (Refile a Return That Has Been Accepted by the IRS). The process was simple. The printed product makes it confusing because the cover sheet in the second block says, " Your amended tax return - Form 1040-X. Remember to sign and date the return. Be sure to attach all forms or schedules that changed to your amended return." BUT The first viewable page is a1040-SR, not a 1040X. Above that page there are 2 blank pages. Could it be that is where the 1040X is supposed to be and the program has a bug or has not been updated? That is the only sense I can make out of this. Need a Turbo Tax tech employee to look at this and provide an answer, PLEASE. Thanks
yesterday
I want to enter interest/dividends manually but TT 2025 always defaults to import. How can I bypass this? Its a real pain.