All Posts

Education-related expenses can be entered in the Deductions and Credits section of TurboTax; they'll land in Form 8863 I believe. Note that the laptop *can* be considered an educational expense if it is a condition of your enrollment/coursework, but internet service generally wouldn't qualify. You'll want to check your specific situation against IRS Publication 970 which covers this topic.

It is automatic based on your age. It is not part of your Standard Deduction. The new Senior Deduction is separate and in addition to the Standard Deduction or your Itemized Deductions on 1040 line 12e. The 6,000/12,000 senior deduction will be calculated on 1040 Schedule 1-A page 2 Part V Enhanced Deduction for Seniors which goes to 1040 line 13b with any other sch 1-A amounts. Turbo Tax automatically includes it if you qualify. For Single the deduction starts to phase out at 75,000 and maxes out at 175,000 For Joint the deductions starts to phase out at 150,000 and maxes out at 250,000 If you are married you have to file a Joint return And your SSN must be VALID for employment. Do NOT check the box saying Not Valid under My Info. 
For Online version You can preview the 1040 or print the whole return https://ttlc.intuit.com/community/accessing/help/how-do-i-preview-my-turbotax-online-return-before-filing/00/26160 What do you have on 1040 or 1040SR line 13b? See the 1040 ….    

I think the price is $59.25.  The extra $40 is the Pay with Refund service charge.  It is added on to the 59.25.  You can avoid the $40 charge by paying the fees upfront with a credit card.   How to review your fees https://ttlc.intuit.com/community/charges-and-fees/help/how-do-i-review-my-fees-in-turbotax-online/00/26353

Using TurboTax I tried my best to convert the property from rental to 'personal use' on 12/31/22, and I have the depreciation schedule from then. There was no Schedule E filed for 2023 because there was no attempt to rent it then, (or subsequently.) As far as I can tell from my records, the only thing TurboTax provided for my filling in 2022 was the standard Schedule E and the Depreciation/Amortization report, but it didn't list any 'date of conversion' that I could find. But in 2023, and after, there was nothing else provided for the rental on any of the tax forms. Can you please tell me how to indicate that a specific asset was junked, while the others are still intact and included with the sale of the property?

I have found the issue (at least in my case) with the help of a reply to my post that I linked to above. I want to post it here as well in case it helps anyone else.   The issue is indeed that when you enter a single business expense, TT will do the calculations for your home office incorrectly*   The issue is that suddenly TT assumes that your home office use is 0%. Why it assumes this, I have no idea. But if you enter any expenses it will do a different calculation and part of that assumes you don't use your home office at all.   To fix it, go to the forms, and find form 8829. Then find the Line 8 Calculation Smart Worksheet section (it has a box around it). Double click on line B ("Enter the percent of gross income on line 7 of Schedule C that is from the business use of this home"). For some reason TT assumes that that is 0%. You should enter 100% (or whatever % of your business is run out of your home). You will then see that your home office deduction is no longer deleted when you have business expenses.   *Technically the calculation is correct, but for some reason the default assumption that the percentage of time your home office is used for your business is 0%. They should assume some other value (like 50% or 100%) or -better- actually ask you!

The TurboTax Free online editions supports a W-2   Go to this TurboTax website for the Free online edition - https://turbotax.intuit.com/personal-taxes/online/free-edition.jsp   Please Note - TurboTax Online: Important Details about Filing Form 1040 Returns with Limited Credits A Form 1040 return with limited credits is one that's filed using IRS Form 1040 only (with the exception of the specific covered situations described below). Roughly 37% of taxpayers are eligible. If you have a Form 1040 return and are claiming limited credits only, you can file for free yourself with TurboTax Free Edition or TurboTax Live Assisted Basic (if available), or you can file with TurboTax Full Service at the listed price. Situations covered (assuming no added tax complexity): W-2 income Interest or dividends (1099-INT/1099-DIV) that don’t require filing a Schedule B IRS standard deduction Earned Income Tax Credit (EITC) Child Tax Credit (CTC) Student loan interest deduction Situations not covered: Itemized deductions claimed on Schedule A Unemployment income reported on a 1099-G Business or 1099-NEC income Stock sales (including crypto investments) Rental property income Credits, deductions and income reported on other forms or schedules

See this for contacting a Tax Expert - https://ttlc.intuit.com/community/expert-review/help/how-do-i-connect-with-a-tax-expert-in-turbotax-live/01/27282?search-action-id=615454150766&search-result-uid=27282

The most common error is accidentally checking the "Roth IRA" box in the contribution section. Go to Deductions & Credits > Traditional and Roth IRA Contributions. Select Edit/Revisit. Uncheck the box for Roth IRA. Only the Traditional IRA box should be checked. Ensure the $7,000 is entered only under the Traditional IRA section. Continue through the Traditional IRA screens until you see "Choose Not to Deduct IRA Contributions". Select Yes, make part of my IRA contribution nondeductible and enter the $7,000. This generates Form 8606, which proves you already paid taxes on that $7,000. If this does not correct the error,  go to Income > IRA, 401(k), Pension Plan Withdrawals (1099-R). When asked what you did with the money, ensure you selected "I converted some or all of it to a Roth IRA".

if you read my earlier reply, I already responded to someone else that Yes, I marked EPD as a PTP  in a very interview question. That is not the reason I am not being prompted. I will resort to using AI to answer my questions.