All Posts

In general, if you paid foreign taxes on income from Stocks, Bonds, Mutual funds or similar investments, the adjustment to the foreign gross income is NOT applicable. If this is your situation, enter zero to resolve the Smart Check message.

It depends.   If you earned any income from Arizona sources while residing within Arizona, you might need to file a part-year resident Arizona return. It would also depend upon your filing status and the amount of your Arizona adjusted gross income.  If you meet the filing threshold amounts, then you would need to file a part-year resident Arizona return as well.   Please see this link from Arizona for more details on the potential filing requirements to determine if you meet this requirement.   Do I have to file tax returns in more than one state also has a more detailed explanation that might assist you as rules vary by state.  

The 2025 1099-R with codes PJ belongs on your 2024 return and you will have to amend your return. You do not need to add Form 1099-R with code PJ on your 2025 return unless there is Box 4 Federal Tax withholding and/or Box 14 State withholding. Then you must enter the 2025 Form 1099-R with code PJ into the 2025 tax return since the withholdings are reported in the year that the tax was withheld. The 2025 code P will not add anything to your income in the 2025 tax return but the withholdings will be applied to 2025.   Yes, you removed the 2023 excess contribution but it seems you removed the 2023 excess twice with a regular distribution? Generally, you use a regular distribution (without earnings) when you remove the excess after extended due date (Oct 15th). In this case you pay the 6% penalty until the distribution dissolves the excess contribution. The 2024 Form 1099-R with code T (received in 2025) should have resolved the 2023 excess contribution on your 2024 return.   You will enter the 2025 Form 1099-R with code T on your 2025 tax return.

Got this: There is a potential issue with the calculation regarding Form 5695, Energy Efficient Home Improvement section,Enabling Property on the Federal return This return cannot be filed at this time due to a processing error that will be corrected on March 6, 2026. On or afterthis date, open the rejected return, review it for errors, and resubmit the return for electronic filing.

The F8962-064 reject code indicates that the IRS requires Form 8962, Premium Tax Credit, to be included with your tax return. This code typically arises when the e-file database shows that this form is missing or not properly attached to your submission. To resolve this issue, ensure that Form 8962 is completed accurately and included in your e-file submission. If you are using tax software, check that the form is correctly filled out and submitted with your return.

Yes, provided you have not filed, you can Clear and Start over.     Sign into TurboTax. You may have to bring up the additional options on the left sidebar On the center panel select Personal Info [Continue] This will bring up additional options on the left sidebar. On the left sidebar at the bottom Select the Switch Products drop down arrow. Click Clear and start over. You can view the TurboTax Video How do I clear and start over?    

If you entered state tax withholding from a Form W-2, 1099-R or other standard (IRS template) income summary, there should be state ID number in one of the boxes that needs to be entered. Switch to Step-by-Step mode in the upper right corner, and return to the Income section of the software to revisit your entries for your annual income form(s).    For example, on a W-2, this information is found in box 15. 

@user17723855504 wrote: it is not located under "download". is there some way to download the .exe file from the company website? Go to this website to download the 2025 desktop edition that was purchased - https://turbotax.intuit.com/personal-taxes/cd-download/install-turbotax/

it says March 6, 2026... "There is a potential issue with the calculation regarding Form 5695, Energy Efficient Home Improvement section, Enabling Property on the Federal return. This return cannot be filed at this time due to a processing error that will be corrected on March 6, 2026. On or after this date, open the rejected return, review it for errors, and resubmit the return for electronic filing."

@MCD9861  adding to this thread, here is one site that has quite a few charts ( clickable ) for Gold prices through the ages --->  Gold Prices - 100 Year Historical Chart Please note the following though ( beyond the posts above :( (a) it is probably within reason ( absent any other affecting facts / circumstances ) to assume that the original donor ( your friend) had purchased/acquired the  1 oz gold bars within a short time prior to  gift time   ( perhaps sometime in  2022) -- so the price may be somewhere in the range of  US$1900 plus  commission  ( usually  80 to 100 per bar --- you can use something like  Bullion  buy sites like JMBullion --> Buy Gold & Silver Bullion Online | Free Shipping | JM Bullion ) (b)  your "basis note" attached to the gift should memorialize that this was a "gift" to you  ( i.e. this was not some payment-in-kind for some action on your part ) and now to them. (c) the assumption here is that these bars are of general kind -- note that some bars with specific engraving etc. or issued / manufactured for specific purposes/ limited production runs etc. may cost a lot more than the average annual  price.  Perhaps you should consider finding out the  current price for these  bars  ( condition, mint/issuer, certificate etc. have a great effect on the current price). (d) since future is uncertain, just enjoy giving them the gift and not worry so much about  how, when and what they will do with these  ( for all you know they may just melt/convert these into rings/ jewelry for their betrothed/ children when that comes ).   Is there more one of us can do for you ?

They would go under insulation.  Insulation is for  "Products that air seal (reduce air leaks) can also qualify, as long as they come with a Manufacturers Certification"   To enter this in TurboTax  you will select the following: Deductions and Credits Your Home Energy Credits Then as you walk through enter the information  The form 5695 which is used for the home energy credits is in the middle of an update by the IRS, so if you are claiming this credit, it is best to wait until after March 6th when they said the changes will be done.