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yesterday
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yesterday
It depends. Are you self employed? If so, then this form applies to you. Make sure you don't need it before trying to delete it.
This form relates to the qualified business income deduction (...
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It depends. Are you self employed? If so, then this form applies to you. Make sure you don't need it before trying to delete it.
This form relates to the qualified business income deduction (QBID). See the instructions to see if it applies to you.
IRS Form 8995 Instructions
What is QBID?
TurboTax Online:
From the left rail menu in TurboTax Online, select Tax Tools (You may have to scroll down on the left rail menu.)
Select Tax Tools
On the drop-down select Tools
On the pop-up menu titled “Tools Center”, select View Tax Summary
On the left sidebar, select Preview my 1040 - Scroll to line 13 to see your deduction.
Once your return is finished you can print Form 8995 to see the income and calculated deduction.
TurboTax Desktop:
Select Forms in the top right
Select the Form 1040 - Scroll to line 13 to see your deduction
Select Form 8995 to see the income and the calculated deduction
yesterday
It depends. Are you self employed? If so, then this form applies to you. Make sure you don't need it before trying to delete it.
This form relates to the qualified business income deduction (...
See more...
It depends. Are you self employed? If so, then this form applies to you. Make sure you don't need it before trying to delete it.
This form relates to the qualified business income deduction (QBID). See the instructions to see if it applies to you.
IRS Form 8995 Instructions
What is QBID?
TurboTax Online:
From the left rail menu in TurboTax Online, select Tax Tools (You may have to scroll down on the left rail menu.)
Select Tax Tools
On the drop-down select Tools
On the pop-up menu titled “Tools Center”, select View Tax Summary
On the left sidebar, select Preview my 1040 - Scroll to line 13 to see your deduction.
Once your return is finished you can print Form 8995 to see the income and calculated deduction.
TurboTax Desktop:
Select Forms in the top right
Select the Form 1040 - Scroll to line 13 to see your deduction
Select Form 8995 to see the income and the calculated deduction
yesterday
fanfare, does this method still work? E-filing then once Accepted, sending in the Form 8606 for the Inherited IRA with a 1040-X?
yesterday
Presente pa declaracion del impuesto federal pero todavía no se a pagado
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yesterday
I tried to expand the form, but box 1 is wages on my 1099 MISC and box 2 Federal Income tax withheld. On the new 1099 MISC 1 and 2 are rents and royalties???? It similar to a standard W2, but the t...
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I tried to expand the form, but box 1 is wages on my 1099 MISC and box 2 Federal Income tax withheld. On the new 1099 MISC 1 and 2 are rents and royalties???? It similar to a standard W2, but the top indicates Form 1099 MISC????
yesterday
I'm struggling to understand the form on New York Nonresident Deductions. Turbotax asks me to enter the "New York source portion" for "any federal deductions attributable to the period of your New Yo...
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I'm struggling to understand the form on New York Nonresident Deductions. Turbotax asks me to enter the "New York source portion" for "any federal deductions attributable to the period of your New York State nonresidency." I live outside NY and have a side business for which I did some work for NY-based clients; 60% of my revenue came from clients based in NY. Turbotax identifies the self-employment tax as the relevant NY nonresident deduction. But given that only some of my 1099 income comes from NY, how do I know what portion of the self-employment deduction is the "source portion"? Is it just 60% of the number that Turbotax has generated ($1,304) for the nonresident deduction (so, $782.40)? Thank you!
yesterday
"Person on the Retun Worksheet: Enrollmentstatus must be entered." I checked the info several times and deleted/re-entered twice.
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yesterday
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yesterday
I have a mixed-use primary residence that I rented out via Airbnb in 2025. I lived in the property for 182 days and rented it for 73 nights, which I have entered correctly in the rental property sect...
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I have a mixed-use primary residence that I rented out via Airbnb in 2025. I lived in the property for 182 days and rented it for 73 nights, which I have entered correctly in the rental property section. The property type is set to "Vacation or short-term." Based on these personal use days, I believe the vacation home rules should apply (IRC §280A), which limits rental deductions to rental income and disallows any rental loss. However, my return is currently showing a rental loss of -$1,267 being applied against my total income. My MAGI is also above the $150,000 threshold where the $25,000 active participant special allowance is fully phased out — so the loss should not be allowed under either set of rules. Can you help me confirm whether the vacation home expense limitation is being correctly applied, or if there is a bug causing the rental loss to flow through incorrectly?
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yesterday
This is obviously incorrect! What gives??
yesterday
I do not see my previous year's itemized business expenses as I have every year before
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yesterday
Right, 2021- it will be too late for PA. PA has a 3 year limit.
yesterday
Choosing Other (not classified) or Other — not listed for your OPERS entry is fine. Box 14 is used for employer-specific details and doesn’t follow standard IRS codes. Picking “Other” here won’t affe...
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Choosing Other (not classified) or Other — not listed for your OPERS entry is fine. Box 14 is used for employer-specific details and doesn’t follow standard IRS codes. Picking “Other” here won’t affect your tax return.
yesterday
I believe you mean you have a Form 1099-K reporting business income and you need to enter additional income you received that was not reported on a Form 1099-K.
If so, when you report the Form ...
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I believe you mean you have a Form 1099-K reporting business income and you need to enter additional income you received that was not reported on a Form 1099-K.
If so, when you report the Form 1099-K income, if you designate it as "Self-employment income" a Schedule C will be populated in TurboTax on which your business income will be listed. To add additional income, you need to go to the Self-employed section under Wages and Income where you will find the business Schedule C that TurboTax has set up. You can then edit the business entry and in the income section, enter your other income under the category "General Income, income not reported on another form."
If you mean you sold other personal items that where not reported on a 1099-K form, you don't need to report the sales if you sold the items at a loss, as a loss on sale of personal items is not deductible. If you sold them at a gain, you would enter that as investment sales as follows in TurboTax:
You enter investment sales in the Wages and Income section of TurboTax, then Investment Income, then Stocks, cryptocurrency, Mutual Funds, Bonds, etc... Skip the section where it asks if you want to upload your tax documents. Choose Other as the type of property sold.
yesterday
It appears the Turbo Tax MO-A is adding back too much in state tax deductions to MO itemized deductions when the taxpayer has phased down federal state and local income tax deductions from $40,000 to...
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It appears the Turbo Tax MO-A is adding back too much in state tax deductions to MO itemized deductions when the taxpayer has phased down federal state and local income tax deductions from $40,000 to $10,000 due to AGI on their federal Schedule A. When adding back the portion of state tax deductions due to income taxes, TurboTax starts with $40,000 instead of $10,000.
yesterday
You can add your individual HSA contributions into TurboTax that were not reflected on your W-2 as follows:
Click on Search at the top right of your TurboTax screen
Type HSA in the searc...
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You can add your individual HSA contributions into TurboTax that were not reflected on your W-2 as follows:
Click on Search at the top right of your TurboTax screen
Type HSA in the search box
Click on the link that says Jump to HSA
Follow your TurboTax screens until you see the screen that says screen
In the box that says Contributions that XXX made (not through your employer) enter the amount of your personal HSA contributions
This should properly record your personal HSA contributions.
Answer all follow-up screens.
Click here for What is a health savings account (HSA)?
Click here for Basics of Health Savings Accounts
Please return to Community if you have any additional information or questions and we would be happy to help.