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No you don’t enter form 5498.   That is only for your info.   That sounds like they are telling you the amount you need to take out in 2026 for your RMD .   How old are you?   If you turn 73 this yea... See more...
No you don’t enter form 5498.   That is only for your info.   That sounds like they are telling you the amount you need to take out in 2026 for your RMD .   How old are you?   If you turn 73 this year like me you have to start taking a RMD distribution from your IRA and 401K accounts.  You only enter a 1099R if you get one for withdrawals, rollover and conversions.   
There have been delays reported due to the New York Department of Revenue's software requiring updates due to tax law changes. You can track your refund here: Income Tax Refund Status, and you can co... See more...
There have been delays reported due to the New York Department of Revenue's software requiring updates due to tax law changes. You can track your refund here: Income Tax Refund Status, and you can contact the NY Department of Revenue here: New York (NY).  
Where in Turbo Tax are the estimated tax payment forms for 2026?
The Schedule D will populate once you have entered your information reporting your capital gains or losses.    Open TurboTax Online and navigate to Wages & Income > Investments and Savings (1099-... See more...
The Schedule D will populate once you have entered your information reporting your capital gains or losses.    Open TurboTax Online and navigate to Wages & Income > Investments and Savings (1099-B, 1099-INT, 1099-DIV, 1099-K, Crypto) > Add/Edit Choose the button Add Investments Proceed to choose how you'd like to enter your information, then report your information.
Let's try to answer your questions in the order you posted them. Yes, you are an IL nonresident. If your rental meets the IL filing requirements:  a nonresident, you must file Form IL-10... See more...
Let's try to answer your questions in the order you posted them. Yes, you are an IL nonresident. If your rental meets the IL filing requirements:  a nonresident, you must file Form IL-1040 and Schedule NR if you earned enough taxable income from Illinois sources to have a tax liability ( i.e., your Illinois base income from Schedule NR, Step 5, Line 46, is greater than your Illinois exemption allowance on Schedule NR, Step 5, Line 50), File the nonresidency states first, then your resident state and/or part year resident states last. It's possible to receive a full refund from NC if you file as a NYS resident for all of 2025. If this is what you decide, then you would file a NC return to receive your refund - no days lived there- and then the NYS return will have a tax liability. It sounds like this is how you should file for 2025. If you decided to file as part year resident in NC you would receive a credit for taxes paid to NYS on the income that would be taxed in both states. NYS taxes all income that is derived from a NY employer so it will not change the income amount that is taxed to NYS even if you file part year residency. The credit in NC would be the lesser of their own tax on the part year earnings or the tax paid to NYS. You had a job and a residence in NYS all year, i.e., a full year NYS residency makes sense. Part year residency means that all income earned while in a specific state as a resident would be included on that state return. A nonresident state like NYS will tax all money derived from a NYS employer regardless of residency. New York State only taxes nonresidents on income derived from New York Sources, which generally means work physically performed within NY state. However, under the 'convenience of the employer' rule, if you work remotely for a NY company, your income is still taxable by NY unless the employer requires you to work remotely.  NYS FAQs Filing Requirements, Residency, Telecommuting State Returns - Your resident state requires you to include all worldwide income. Assume both states require income tax returns to be filed:  Report the income on each state return that is from the nonresident state Report it on your resident state and receive credit for taxes paid to another state. Credit for taxes paid to another state is allowed by a resident state when the same income is being taxed to another state.  Your resident state does not want you to pay tax twice on the same income. The credit that is allowed will be the lesser of: the tax liability actually charged by the nonresident state, OR the tax liability that would have been charged by your resident state @hellotax1111 
@debanncohen ,  (a) what type of foreign income ? (b) If passive income ( interest, dividend  etc. ) , is the total Foreign Tax paid more then  US$600  ( US$300 for single filer ? -- If so you do... See more...
@debanncohen ,  (a) what type of foreign income ? (b) If passive income ( interest, dividend  etc. ) , is the total Foreign Tax paid more then  US$600  ( US$300 for single filer ? -- If so you don't need the form 1116 (c) Are you entering details under  "Foreign Tax Credit " section of  "Deductions and Credits" tab ?  You probably are, but I just wanted to make sure  we are on the same page-- please forgive. (d) Note that the form 1116 can handle only three different countries per form -- so for four countries  you will need an additional form 1116 ( Copy 2 ) I will circle back once I hear from you --yes ?
@mfhanif    Interesting......did you just recently e-file it?   I was wondering if the choice might be locked out until your e-file is actually accepted by Feds and state  (if state was filed at ... See more...
@mfhanif    Interesting......did you just recently e-file it?   I was wondering if the choice might be locked out until your e-file is actually accepted by Feds and state  (if state was filed at the same time).....or maybe a TTX expert knows for sure why.   On my tools center pop up, there is another line just below the  Delete a Form , that lets you download the .tax2025 datafile  
I don't see what is your point exactly!   What I'm trying to achieve is force turbotax to e-file form 1116 schedule B to the IRS so that once I used them in a few years I don't get auto audited.  ... See more...
I don't see what is your point exactly!   What I'm trying to achieve is force turbotax to e-file form 1116 schedule B to the IRS so that once I used them in a few years I don't get auto audited.   Otherwise I have all the documentation and the amounts of $ related to my carryovers (I've entered them manually during the turbotax interview steps). And I'm anyway tracking them manually as well. But again this is not the problem I'm trying to solve.
I need a Schedule D, but TurboTax does not seem to have one. What can I do?
I see the issue and will report it.
No, those are personal non-deductible expenses.   Personal casualty losses are currently only deductible if they are attributable to a Federally Declared Disaster.
Section 168(k) additional first-year ("bonus") depreciation is referred to as the 'Special Depreciation Allowance' on federal tax forms such as the 4562 for Depreciation and Amortization. After you p... See more...
Section 168(k) additional first-year ("bonus") depreciation is referred to as the 'Special Depreciation Allowance' on federal tax forms such as the 4562 for Depreciation and Amortization. After you print out your prior-years' PDF tax return file, then Ctrl + F search for 4562, on that form you will find the Special/bonus depreciation deduction amount for that tax year on line 14, see below for example: 
@bayshawngarcia7    No one can help you if you don't indicate what it is that you believe needs changing.   This is a Public forum that anyone can see  (thus, no detailed personal informatiaon), ... See more...
@bayshawngarcia7    No one can help you if you don't indicate what it is that you believe needs changing.   This is a Public forum that anyone can see  (thus, no detailed personal informatiaon), but there are various helpers in here that will respond if they think they can guide you to a specific area.
Why would I have any taxable social security benefits in Michigan?  I have read that Michigan does not tax Social Security benefits and all Social Security income is fully exempt from Michigan state ... See more...
Why would I have any taxable social security benefits in Michigan?  I have read that Michigan does not tax Social Security benefits and all Social Security income is fully exempt from Michigan state income tax yet TT is showing taxable social security benefits on Schedule 1, line 10.  On my pension, it looks like 75% should be exempt but TT is taxing the entire amount for Michigan.  I cannot figure out what most of the figures are on the Michigan return.  
The ordinary income associated with ESPP stock would be reported in box 1 of your W-2 form, but not in boxes 3 or 5. So, if those amounts are all the same then the discount would likely not have been... See more...
The ordinary income associated with ESPP stock would be reported in box 1 of your W-2 form, but not in boxes 3 or 5. So, if those amounts are all the same then the discount would likely not have been reported on your W-2 form.
Thank you for your reply. Unfortunately, your steps are slightly different than what I'm seeing and I still can't find where to enter prior year deppreciation. 
Do have a question?  The notice or a letter from the IRS will explain the adjustment.