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TurboTax automatically adds this deduction if you (and your spouse if filing jointly) are above the age of 65 by the end of the taxable year. It's based on your date of birth, with no need to check a... See more...
TurboTax automatically adds this deduction if you (and your spouse if filing jointly) are above the age of 65 by the end of the taxable year. It's based on your date of birth, with no need to check any boxes.   To verify your enhanced senior deduction for the year, see the instructions below:   The senior deduction pulls into your 1040 on Line 13b from a different form, and it is usually $6,000 for each taxpayer above age 65. In your tax return print PDF copy, search for a form titled Schedule 1-A Additional Deductions. The total on Schedule 1-A Line 37 is your enhanced senior deduction for the year. The sum of these additional deductions (on Line 38) should flow to Line 13b on your federal Form 1040 or 1040-SR.   To see or print a PDF of your tax return, select your product and follow the instructions.   TurboTax Online Open or continue your return. Select Continue or Start on Tax Home to enter your return. Select Tax Tools from the menu. Select Print Center, choose Print, save, or preview this year's return, and follow the instructions. If you haven't yet paid your TurboTax Online fee (or registered, if you're using a free version), you'll need to do so before you can save the PDF. TurboTax Desktop Open or continue your return. Select File. Select Print/Save for Your Records. Choose to either Save As PDF or Preview Print Copy. See also: 2025 IRS Form 1040 instructions, What's New
If you are filing as Married Filing Separately you are not eligible for the deduction.  If you are Single and your AGI is over $175,000 or Married Filing Jointly and your AGI is over $250,000 you are... See more...
If you are filing as Married Filing Separately you are not eligible for the deduction.  If you are Single and your AGI is over $175,000 or Married Filing Jointly and your AGI is over $250,000 you are not eligible for the deduction.   If you are age 65 or older and meet the requirement, the additional deduction is automatically added on your federal tax return.   Standard deductions for 2025 Single - $15.750 add $2,000 if age 65 or older Married Filing Separately - $15,750 add $1,600 if age 65 or older Married Filing Jointly - $31,500 add $1,600 for each spouse age 65 or older Head of Household - $23,625 add $2,000 if age 65 or older   New Bonus Standard Deduction (OBBB): An additional $6,000 deduction for taxpayers 65 and older. This is per eligible individual, meaning a married couple both over 65 could get $12,000. Important: This bonus deduction is temporary, lasting from 2025 through 2028. Income limitations: It phases out for taxpayers with modified adjusted gross income over $75,000 for single filers and $150,000 for joint filers. The amount is calculated on Schedule 1-A, Part V, with that amount flowing to Form 1040 Line 13b Look at your Form 1040 - You can view your Form 1040 plus Schedules 1, 2 and 3 at any time using the online editions. Click on Tax Tools on the left side of the online program screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.
Click on Federal>Wages & Income>Wages and Salaries (W-2)>Add/Edit
5 years; you are allowed to "recover the cost" of this vehicle by taking depreciation expense on your tax return for a 5-year period.   The term "5-year property" includes -- (i) any automo... See more...
5 years; you are allowed to "recover the cost" of this vehicle by taking depreciation expense on your tax return for a 5-year period.   The term "5-year property" includes -- (i) any automobile or light general purpose truck Depreciation code section 168.   Learn more: TurboTax - Business Use of Vehicles
TurboTax calculated an underpayment penalty on estimated taxes but as a NC resident I was to receive relief from the april and june quarterly payments as long as I paid by the postponed deadline of Se... See more...
TurboTax calculated an underpayment penalty on estimated taxes but as a NC resident I was to receive relief from the april and june quarterly payments as long as I paid by the postponed deadline of September 25, 2025
Does turbotax apply the new senior bonus standard deduction of $6000
No, there are no maximum income limits for 529-to-Roth IRA conversions.   Under the SECURE 2.0 Act, the standard Modified Adjusted Gross Income (MAGI) phase-out limits that usually prevent high e... See more...
No, there are no maximum income limits for 529-to-Roth IRA conversions.   Under the SECURE 2.0 Act, the standard Modified Adjusted Gross Income (MAGI) phase-out limits that usually prevent high earners from contributing to a Roth IRA do not apply to these specific rollovers.    You can find more information on 529 rollovers in IRS Publication 590-A.
If you received your gambling winnings on a Form 1099-MISC instead of a W-2G, here is the procedure for entering it into your tax return:   Log into / open your return Go to Federal Wage... See more...
If you received your gambling winnings on a Form 1099-MISC instead of a W-2G, here is the procedure for entering it into your tax return:   Log into / open your return Go to Federal Wages and Income Less Common Income Gambling Winnings  Once you are in gambling winnings, indicate that you do not have a W-2G. On the follow-up screen that says 'Did you receive any other gambling or lottery winnings not reported on a W-2G?' Answer yes. Here you will report the amount of your gambling winnings from your form 1099-MISC. On the next screen, you can report gambling losses. Do not enter more than the amount of your winnings. Learn more: How to Pay Taxes on Gambling Winnings and Losses
If you do not have any energy efficient commercial buildings deduction, try deleting Form 7205 which seems to be initiating this error.   Use the link below for your version of TurboTax to delete... See more...
If you do not have any energy efficient commercial buildings deduction, try deleting Form 7205 which seems to be initiating this error.   Use the link below for your version of TurboTax to delete a form. If you're using TurboTax Online software and need to delete a form, click here. If you're using TurboTax Desktop software and need to delete a form, click here. Form 7205: Energy Efficient Commercial Buildings Deduction," is used by building owners and designers to calculate and claim the Section 179D tax deduction. It documents energy-efficient improvements to commercial buildings, such as lighting, HVAC, or building envelope systems, placed in service during the tax year. What is the energy efficient commercial building deduction, Form 7205? @bowenavi 
Because you have many transactions (25–30 rows), you can choose to enter a summary for each sales category instead of each individual trade.  Go to Federal Taxes > Wages & Income > Investment In... See more...
Because you have many transactions (25–30 rows), you can choose to enter a summary for each sales category instead of each individual trade.  Go to Federal Taxes > Wages & Income > Investment Income. Click Start or Update next to Stocks, Mutual Funds, Bonds, Other. After entering your brokerage name, when asked "How do you want to enter your sales?", select Sales section totals. Select Long-term basis not reported to IRS (noncovered). This corresponds to Box E on your 1099-B and will automatically place the data in Form 8949, Part II, Box E. Enter the total proceeds and the cost basis from your 1099-B summary. ***If you use the summary method, the IRS requires you to mail a paper copy of your 1099-B detailing the individual transactions. TurboTax will generate Form 8453 (a transmittal form) to accompany your 1099-B details if you e-file. If you want to enter each transaction individually, you do not have to mail the details.
To enter, edit or delete estimated taxes paid (Federal, State, Local) - Click on Federal Taxes (Personal using Home and Business) Click on Deductions and Credits Click on I'll choose what I work ... See more...
To enter, edit or delete estimated taxes paid (Federal, State, Local) - Click on Federal Taxes (Personal using Home and Business) Click on Deductions and Credits Click on I'll choose what I work on (if shown) Scroll down to Estimates and Other Taxes Paid On Estimated Tax Payments, click on the start or update button   On State estimated taxes for 2025, click on the start button    
You can follow the steps to delete a form to clear unnecessary entries.  If you had royalties in the past, or even if you answered a question in an interview part, TurboTax adds the forms sometimes. ... See more...
You can follow the steps to delete a form to clear unnecessary entries.  If you had royalties in the past, or even if you answered a question in an interview part, TurboTax adds the forms sometimes.     From the left rail menu in TurboTax Online, select Tax Tools (You may have to scroll down on the left rail menu.) On the drop-down select Tools On the Pop-Up menu titled “Tools Center,” select Delete a Form  This will show all of the forms in your return  Scroll down to the form you want to delete  Select the Form  Click on Delete.  Always use extreme caution when deleting information from your tax return.  There could be unintended consequences.   
you made a gift to him which seems to be below the threshold of $19,000 for filing a gift tax return. TurboTax does not do gift tax returns. with gifts there is nothing to report on either of your 10... See more...
you made a gift to him which seems to be below the threshold of $19,000 for filing a gift tax return. TurboTax does not do gift tax returns. with gifts there is nothing to report on either of your 1040s. he does take over your tax basis and is responsible for depreciation recapture that both you and he took upon disposition of the asset if sold for more than its reduced basis due to depreciation  
When you are entering income and you are filing as Married Filing Jointly, in each section of the TurboTax program you will be asked to select who the income or form belongs to , by Name.  
Below are two options, depending on the TurboTax product you are currently using, for when you did not take your RMD and did not receive a Form 1099-R, but would like to request a waiver via Form 532... See more...
Below are two options, depending on the TurboTax product you are currently using, for when you did not take your RMD and did not receive a Form 1099-R, but would like to request a waiver via Form 5329 for your inherited IRA:   In TurboTax Desktop:    In Forms Mode, go to Open Form at the top left corner of your TurboTax screen and type 5329 Select Form 5329-T On Form 5329-T, scroll down to Part IX (Additional Tax on Excess Accumulation) Line 52a and input the $_ that was your RMD On Line 53a, input zero (0) for the amount of the RMD you took Input the $_ in Box A found just below Line 53b Click Explain just below the $_ Write: "I mistakenly did not take the RMD for my inherited IRA. Upon discovering the error in January 2026, I immediately withdrew the full 2025 RMD amount of $_. I have now set up an automatic withdrawal to ensure this does not happen again."   In TurboTax Online:   Go to Wages & Income and select, Retirement Plans and Social Security, 1099-R... Select, IRA, 401(k), Pension Plan Withdrawals (1099-R), then Start Here, you will select Add a 1099-R, but will enter $0.00 in Box 1 and Box 2a since this is only to trigger the RMD interview, Continue Note: Box 7 should have Code 4 for an inherited IRA, as well as the IRA/SEP/SIMPLE box checked Click Continue through the interview, answering through next screens When you reach Review your 1099-R Summary, click Continue Ensure you selected, I inherited this IRA plan, Continue Enter the information about from whom it was inherited, Continue Answer the, "Did you have nondeductible contributions for this IRA?", typically No (unless your mother tracked her basis on Form 8606), Continue Year when the person from whom you inherited IRA was born, Continue When you reach, "Let's get more information about your Required Minimum Distribution (RMD), enter the amount of your RMD that was due by December 31, 2025 (but did not take), Continue On the next screen, "How much of this distribution applied to your December 31, 2025 RMD?" Select "None of this distribution applied...", Continue Next, you will be asked, "Did you take out the remaining $_ during the correction window?", Select, "No, I did not", Continue When you reach, "Review your 1099-R summary, Continue (not the pencil) When you reach, "Let's go over any required minimum distributions (RMD), Select the pencil Next, you will see, "Did you miss taking the...RMD...?", Select Yes, Continue Enter the amount of the RMD (that you should have taken) when you reach, "Tell us the Total RMD...", Continue Select "No", when asked, "Did you take a corrective distribution...?", Continue Do you want to request a waiver, select, "Yes", Continue Next, enter the amount of your RMD for which you are requesting the waiver, Continue Next, enter an explanation, Continue