All Posts

Looks like you are in the Online version.   Did you use these steps? How to install and Activate the Desktop Download program with a License Code How to install TurboTax CD/Download software with license code   How do I find the License Code? https://ttlc.intuit.com/community/tax-topics/help/i-can-t-find-my-license-code/01/852973  

  Thank you for the lightning-fast response.     On 2024 - I had already started amending my 2024 taxes to add the 5329, which is assessing the 6% penalty.  This seems relatively straightforward, and is coming out as expected.   On 2025 - It's my belief, like you say, that the timeline by which I need to withdraw the money to avoid the 2nd 6% penalty is 4/15/26 (plus extensions).  I already met the 4/15/26 deadline you mentioned.  The IRS is acting like as soon as it turned 2026, 1/1/26, the 2nd 6% penalty applies, which makes no logical sense to me.  It's like being double penalized, like they aren't accounting for the successive tax years' deadlines.  I have seen what you describe being discussed in other help threads, adding the 1099-R manually, but I was still having trouble with it wanting to assess a penalty.  I think it has to do with not reporting the distribution properly.  I need to look through it carefully, and hopefully get back to you with a more refined question.  

Hello @LenaH,   I hope you are doing well.   I am also facing this issue: "IT-360.1 TP – Change of City Resident Status Stmt – TP: New York Adj, Federal Amt – there should be an amount entered in Column A of Line 19 – New York State Adjustments. There is an amount on this IT-360.1 Line 19 Column A total of $0."   My token number is 1356 357 834 894 90 99 377 29 727 There is a dash character (-) is after 099 Can you please assist?   Thanks

By expense of what they paid you, do you mean what the insurance company paid you?  If so, you will enter it as the sales price.  Basically, when your vehicle is totaled, you treat it as though you sold it to the insurance company.     The amount you paid for vehicle rental would be entered as Other Miscellaneous expenses.  You will enter the description as vehicle rental and then the amount.    To enter the disposition of a business asset take the following steps:  go to the Self-Employment section and select edit next to your vehicle.  Go through the steps and check the box that says I stopped using this vehicle in 2025 You will need to say you sold this vehicle When you are asked for the sales price enter any insurance payouts you received.  Continue through answering the questions so that the property and any payouts can be properly allocated   The amount you can deduct will be limited by: value of the car versus depreciation taken Insurance payout percent of use for business versus personal Depreciation:  If you used the car in previous years and the car is fully depreciated, then your cars value would already be $0 so you would not be able to take a deduction for this.  However, if you received an insurance payout and the car was fully depreciated, then you would actually have a gain on the disposition of the vehicle and this would be taxable income.   If you used standard mileage deduction, you would depreciate your vehicle using the cents per mile allocated to depreciation based on the year.  The portion of the business standard mileage rate treated as depreciation is: 27 center per mile for 2020  26 cents per mile for 2021 & 2022 28 cents per mile for 2023  30 cents per mile for 2024  33 cents per mile for 2025   If you used actual expenses, then you would look at your forms from last year to see your total depreciation taken on the vehicle. You will find this on the depreciation worksheet. If you took an accelerated depreciation method (ex. you bought the car in 2024 and took full depreciation, then it would have $0 value) Note:  If you had a loan on this vehicle and your payout did not cover the loan, the loan does not affect the vehicles sales price or value.    

This error frequently appears if there is a second, blank, or "rolled over" SD 100 form in your return.  Go to Tax Tools > Tools > Delete a Form.  Look for any extra SD-100 forms and delete them.   If that does not work, try leaving the residency dates blank. Full-year residents generally should not have to enter "From/To" dates on this form.  If the dates are required, try entering 01/01/2025 and 12/30/2025 (364 days) to bypass the software’s "over 365" error.

You cannot file your 2023 and 2024 taxes together with 2025. Each tax year has be filed separately.   You can only file this year's tax return (2025) using TurboTax Online.   To file your tax returns for prior years, please follow the instructions in this TurboTax Help article.

If you still have the building listed on your return in TurboTax from when you rented it out, you can edit that rental activity in TurboTax, find the asset and indicate it was sold. TurboTax will ask you for the date sold and proceeds. The cost basis and accumulated depreciation may populate automatically and that would be all you would have to do. Otherwise, you will need to enter in the cost basis and accumulated depreciation allowable during the time the building was rented out or used for business.   Otherwise, you will need to go into the business/rental section of TurboTax and on the screen that says Let's Gather your Business Info, use the Sale of Business Property option under Less Common Business Situations to enter in your building sale.     You need to keep in mind that you must enter the depreciation allowable on the building during the time it was used for business or rented out when you report the sale of it regardless of the depreciation you actually deducted. Also, you can add the cost of improvements you made to the original cost of the building.

We did the NUA last year after retiring at 60.  We were under the impression that we did not need to have tax withheld in this situation but Turbotax specifically asks if you retired after reaching 62.  Is there any other was around paying the underpayment penalty for us?   OP, have taxes withheld.   Thanks.

To complete and file a 2023 and 2024 tax return using TurboTax you would need to purchase, download and install on a personal computer one of the desktop editions for each tax year from this website - https://turbotax.intuit.com/personal-taxes/past-years-products/   A prior year tax return can only be printed and mailed, it cannot be e-filed using TurboTax.  Use a separate envelope for each tax year.

Yes the 1099NEC can only be reported on her return.  Online is only good for 1 return per account.  Don’t use your account or you will overwrite your return and it will be gone.  And you have to pay for each account separately so it might get expensive.   You can start another return in TurboTax Online by: Logging out if you are in your account Choose what TurboTax Online product you want to use for the second return Create your account screen Set up a new login for the second return Start working on the new return   Be sure on their return they check the box that asks if you can be claimed on someone else’s return.   

Try this method as this has worked for some,  especially if the form was imported.   Go to Federal → Income & Expenses  Find 1099‑DIV section Click Delete next to the form Re‑enter the 1099‑DIV by hand, not by import Imported forms often carry hidden formatting that breaks the foreign dividend logic.