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2 hours ago
1 Cheer
Yes. You have been on the deed for 5 years. Your brother's quit claim simply increased your percentage of ownership. You and your wife have owned and used the house for 5 years which more than satis...
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Yes. You have been on the deed for 5 years. Your brother's quit claim simply increased your percentage of ownership. You and your wife have owned and used the house for 5 years which more than satisfies the requirement provided you did not sell another primary home within the last 2 years.
2 hours ago
No, don't refile the return. This is not unusual.
Paper tax returns generally take six to eight weeks or more for the IRS to process
2 hours ago
1 Cheer
Correct, since you have a plan that is subsidized by your employer, you do not qualify for the self-employed health insurance deduction.
2 hours ago
ny state tax higher then distribution
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2 hours ago
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2 hours ago
TT used to give you some help with this situation. Out of curiosity, I decided to take a look at this year's program (I have desktop Deluxe). It stills helps, but you have to use a workaround to ge...
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TT used to give you some help with this situation. Out of curiosity, I decided to take a look at this year's program (I have desktop Deluxe). It stills helps, but you have to use a workaround to get past the unbalanced boxes 1,2&3 screen.
Enter any numbers to make it balance. Later, after you check Coverdell ESA as the Qualified Tuition Program type, you will be give a screen to enter your basis* and year end value. ICheck not "applicable" at the return of contribution screen ("no" doesn't work). TT will use the calculated earnings, rather than the made up ones entered earlier. You can go back and change the made up ones, although it does not appear to be necessary.
*You have to know your basis. If you have used TT in the past, for an ESA distribution, it should carry forward from last year,
2 hours ago
Here is how to find and use the bank link feature for your 2025 return.
The link option typically appears after you have finished entering your business income.
Go to Wages & Income and se...
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Here is how to find and use the bank link feature for your 2025 return.
The link option typically appears after you have finished entering your business income.
Go to Wages & Income and select Self-Employment Income and Expenses.
Click Edit/Review next to your business.
Continue through the screens until you reach the "Your [Business Name] info" summary page.
Scroll down to the Expenses section. Look for a blue button or link that says "Connect My Accounts" or "Import Expense Transactions."
If you already started entering expenses manually or if the business was imported from last year, the "Connect" button might not be there. To get around this you can:
Create a "dummy" business.
Select Add another line of work.
Give it a temporary name and enter $1 of income.
When you move to the Expenses section for this new work, the "Connect Accounts" button should reappear.
Once you import your transactions and categorize them, you can move them to your "real" business and delete the dummy one.
2 hours ago
I am not a tax expert, here are my questions for you to help you find the right numbers. Did you only put the cobra insurance premiums in Business income and expenses, (under the wages and income ...
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I am not a tax expert, here are my questions for you to help you find the right numbers. Did you only put the cobra insurance premiums in Business income and expenses, (under the wages and income tab), keep continuing thru the questions in business income and expenses until you get to business expenses, then choose "all other expenses". Enter the cobra ins related to your self employed business there, its the 6th line down. Do not add the marketplace ins in business expenses. This number will then appear on form 7206, line 1, which should flow down to line 3 and then possibly line 14 of form 7206. DO NOT enter the cobra or marketplace premiums in Deductions & Credits section of medical expenses...you would be double dipping if your file schedule A (I dont file sch A). The marketplace number somehow magically appears on schedule 1, line 17. If you go to form 7206 and look at the very bottom, there is a footnote....it should tell you the amount of self employed health ins premiums paid thru an exchange (marketplace) is included in income but not on these worksheets. Does this match your marketplace premiums you paid? Next, Go to form 8962 and look at line 29. You might have had to pay back some of your PTC, so your health ins you paid is equal to the premiums Jan thru December plus the PTC you had to payback thru your Federal return. This number is also on Schedule 2, 1a. My question to Turbo Tax, which wasnt answered was on schedule c's worksheets there is allocable deductions smart worksheet. Should line A be insurance premiums from business expenses plus the marketplace PTC plus any tax credit you owe back? I am hoping someone reads this before 4/15!! I was able to get Schedule 1, line 17 to add up to the number I expected. I had a corrected a hundred 1099B sales to reflect inherited and that literally changed my short term losses by $1, which changed my tax owed, among other numbers and changed my PTC by $2. It was a snowball effect that took me forever to figure out. I made an adjustment to one stock sale by $0.30 to correct the rounding up of too many sales and now my number on Schedule 1, line 17 is what I expected it to be. I still dont know which boxes on which forms sch 1, line 17 pulls from. If I knew this, I then I could always make sure things are correct or find my mistake quicker. I hope this helped you figure out why your number is different, my guess is you owe back some of your marketplace insurance premium and dont realize it. If you can figure out form 7206, line 14, then line 17 on schedule 1 should add up for you. We always pay January's premium in December, this year I added it to my business expenses because our new premiums are so high I wont be able to write it all off next year, I do not make that much. My husband retired early a few years ago. We do not have cobra anymore, just the awful marketplace ins and now there is no subsidy:( Good luck, reply back to this if you figure it out:)
2 hours ago
You can file an extension, which will allow you to file until October 15, 2026.
This is an extension to file your tax return, not an extension to pay your taxes. You must estimate your taxes du...
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You can file an extension, which will allow you to file until October 15, 2026.
This is an extension to file your tax return, not an extension to pay your taxes. You must estimate your taxes due and pay them by April 15, 2026 to avoid penalties and interest.
You can use TurboTax to e-file an extension by clicking here.
2 hours ago
See this for e-filing an extension request - https://ttlc.intuit.com/community/extensions/help/can-irs-extensions-be-e-filed/01/25884?search-action-id=620817821809&search-result-uid=25884
2 hours ago
To clarify, are you filing Married Filing Separate or Married Filing Jointly?
2 hours ago
It appears that my income in 2025 was minus $51, and I cannot edit it.
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2 hours ago
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2 hours ago
One of my w-2s are running late.
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2 hours ago
The good news is that since it's not a hobby, the expenses are deductible. Hobby income is taxable, but expenses are not deductible. As earned income, you can't avoid the SE tax, but if you don't wan...
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The good news is that since it's not a hobby, the expenses are deductible. Hobby income is taxable, but expenses are not deductible. As earned income, you can't avoid the SE tax, but if you don't want to pay income taxes, we might have suggested contributing to a retirement account or even an HSA. any of these would have to be done by 4/15
2 hours ago
If you have issues viewing your return, you might try maximizing your browser window (yes, that is Windows-speak). I find that frequently on all applications that things don't work quite right unless...
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If you have issues viewing your return, you might try maximizing your browser window (yes, that is Windows-speak). I find that frequently on all applications that things don't work quite right unless I maximize the browser window.
2 hours ago
Can you provide the reject code so we can help you?
2 hours ago
@CatinaT1 @MonikaK1 You are aware at this point that this is not the issue, right? The TT software has clearly created this problem that so many of us have been hit with. It's not a user issue.
2 hours ago
The review error will ask a question and show you a form with a spot highlighted. Let us know the question along with the form and place and we are glad to help you figure out the issue. We need more...
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The review error will ask a question and show you a form with a spot highlighted. Let us know the question along with the form and place and we are glad to help you figure out the issue. We need more information to help.
2 hours ago
The maximum 2025 IRA contributions is $7,000 plus a catch-up contribution of $1,000 if you are 50 or older.