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Sorry, I'm still unclear about what I need to enter on form 8938 as the inheritance money was merged with non-inheritance money in my bank account. Do I subtract the inheritance amount from the maxim... See more...
Sorry, I'm still unclear about what I need to enter on form 8938 as the inheritance money was merged with non-inheritance money in my bank account. Do I subtract the inheritance amount from the maximum amount in my bank account and enter that as the maximum value of the account on form 8938?   Thanks
I am thoroughly confused about how to enter non-cash donations. My husband died in January 2024, and I am itemizing for 2025. I donated hundreds of clothes, footwear, and household items ranging from... See more...
I am thoroughly confused about how to enter non-cash donations. My husband died in January 2024, and I am itemizing for 2025. I donated hundreds of clothes, footwear, and household items ranging from S hooks to mesh drawstring pouches, toilet bowl cleaning cartridges, flash drives, car cup holder extenders, etc. I made these donations to 3 different charitable thrift shops in 16 different batches on different days, and many of the batches totaled over $500 in FMV. The FMV of individual items are mostly under $20, with a few exceptions for new (still in original packaging or with tags on), high-quality brands, and none of those have an FMV over $50. 1. Does the $500 rule apply to each batch or to all the donations to a single charity? 2. Does the $5,000 rule apply to each batch or to all the donations to a single charity? 3. How, exactly, do I enter these in TurboTax? I entered them in Deductible Duck and imported the TXF file, but TurboTax only took the totals for each batch, labeled each with "Needs Review," and Smart Check is requesting the acquisition date, cost/adjusted basis, etc. on the whole lot  instead of the particular items. I have no idea about even the individual items, since I didn't buy most of them or years have gone by since. Same problem when I click on the Edit icon, though at least there it lets me say I got "the item" over multiple dates. 4. Do I consider items that my husband bought as purchases or inheritance? Thank you for whatever help you can provide.
Sign into your TurboTax Online account or open your return and tell us what the status shows.   If your return was rejected, you can make changes while you have the return open and then resubmit the ... See more...
Sign into your TurboTax Online account or open your return and tell us what the status shows.   If your return was rejected, you can make changes while you have the return open and then resubmit the return.   And can you clarify what the reject code is?
To enter your Passive Loss Carryover for Airbnb reported on Schedule E in TurboTax Online, follow these steps: 1. Go to the Federal Taxes section, then select Wages & Income. 2. Scroll down to th... See more...
To enter your Passive Loss Carryover for Airbnb reported on Schedule E in TurboTax Online, follow these steps: 1. Go to the Federal Taxes section, then select Wages & Income. 2. Scroll down to the Rental Properties and Royalties (Schedule E) section and select Start or Update. 3. Enter your Airbnb rental property information as prompted. 4. When asked about prior year passive loss carryovers, enter the amount of your passive loss carryover from your previous tax return. This ensures your prior year passive losses are applied correctly to your current year's rental income. If you used TurboTax last year and transferred last year's return, this information may already be imported.
Hi, I keep seeing that an option to amend a tax return in Turbotax is late February, early March, specific dates like March 9th, etc, etc.  I feel like I missing something here.  I filed by business'... See more...
Hi, I keep seeing that an option to amend a tax return in Turbotax is late February, early March, specific dates like March 9th, etc, etc.  I feel like I missing something here.  I filed by business's tax return through Turbotax and realized it was wrong.  From what I can gather, I can't amend the return until the IRS "processes" my return.  This, as I understand it, is the step after the IRS "accepting" my return.  Here it is March 18th and there is no option on my Turbotax to amend my tax return.  This is very important as I need to amend the return in order to create updated K-1's for myself and my business partners.  Am I missing something?  Or, do I just need to keep waiting? 
That depends. If you're not divorced by December 31, 2025, the IRS still considers you married.  You must file as either Married Filing Jointly or Married Filing Separatly.  I would expect yo... See more...
That depends. If you're not divorced by December 31, 2025, the IRS still considers you married.  You must file as either Married Filing Jointly or Married Filing Separatly.  I would expect you would prefer Seperately. You must both take Itemized Deductios, or Standard deductions. If you are legally divorced or have a final decree of separate maintenance, you must file as Single or Head of Household. 
In TurboTax Online, if it says you are not eligible for the simplified home office deduction due to zero or negative net profit, but you show a positive net income, the issue often arises from the wa... See more...
In TurboTax Online, if it says you are not eligible for the simplified home office deduction due to zero or negative net profit, but you show a positive net income, the issue often arises from the way business income or losses were entered. To address this: 1. Double-check your business income and expenses entries to ensure your net profit calculation is correct. 2. Review any business losses or deductions that might reduce your net income to zero or less in the software's calculations. 3. Revisit the home office deduction section and confirm your answers, especially the net profit figures. Sometimes, TurboTax may calculate net profit differently from your manual calculation due to specific expenses or adjustments.   To review and correct your business income entries in TurboTax Online, follow these steps: 1. Go to the Wages & Income section. 2. Scroll down to Business Income and Expenses (Schedule C) and select Start or Update. 3. Proceed through the questions until you reach your business summary. 4. Carefully review your income entries such as 1099-NEC or cash income to ensure all amounts are entered correctly. 5. Check your expense entries for accuracy and completeness since expenses affect your net profit. 6. After confirming income and expenses, TurboTax will recalculate your net profit. 7. Then, navigate back to the home office deduction section to re-check eligibility. This process helps ensure your net profit reflects correctly for the simplified home office deduction.
It is up to you if you want to claim the Arkansas child care credit or not.  The credit allows you to claim up to 20% of the federal credit.  To claim it, you must claim the federal child and depende... See more...
It is up to you if you want to claim the Arkansas child care credit or not.  The credit allows you to claim up to 20% of the federal credit.  To claim it, you must claim the federal child and dependent care credit.   Child and Dependent Care Credit information    
Yes, there’s a better way than overriding. The “more than 85%” error usually appears when the lump-sum Social Security entry isn’t reported correctly through the lump-sum calculation interview or whe... See more...
Yes, there’s a better way than overriding. The “more than 85%” error usually appears when the lump-sum Social Security entry isn’t reported correctly through the lump-sum calculation interview or when a prior-year amount is placed on the wrong line. Use the built-in lump-sum method flow and remove any overrides so TurboTax can compute the taxable portion correctly.   Remove overrides Open the return, go to the Social Security worksheet and clear any manual overrides you made. Use the lump-sum interview: Federal > Wages & Income > Retirement Plans and Social Security. Edit Social Security (SSA-1099). When asked if your Form SSA-1099 includes a lump-sum payment for prior years, select Yes. Enter the 2025 total from Box 5, then the prior-year amounts as shown on the SSA-1099 (e.g., 2024 portion). Do not net or reallocate, enter exactly as shown. Prior-year info: When prompted, enter your filing status and key income items for the prior year (2024) so the lump-sum method can test whether taxing it as if received in the prior year(s) lowers your tax. Check for common causes of the error: Only Box 5 belongs in Social Security benefits. Don’t enter the prior-year portion as a separate SSA-1099; it goes in the lump-sum section. If you have tax-exempt interest, foreign earned income exclusion, or large IRA/retirement income, make sure those are entered correctly; they affect the 85% cap. If the Error Persists in "Forms Mode" (Desktop Users) If you are using the CD/Download version:   Switch to Forms Mode (top right).  Find the Lump-Sum Social Security Worksheet.  Look at Line B and Line 19. The software is likely miscalculating the "ceiling" for the 85% rule.  Rather than overriding the final 1040, ensure the 2024 Adjusted Gross Income (AGI) and Tax-Exempt Interest from your 2024 return (If you had any)  are entered correctly in the worksheet. This usually "unlocks" the math.
I do see that the Schedule F is not adjusting the amount for Line 4b and the QBI adjustments.   For now, go to Forms Mode and scroll down to your Schedule F.    Then scroll down the Schedule F until ... See more...
I do see that the Schedule F is not adjusting the amount for Line 4b and the QBI adjustments.   For now, go to Forms Mode and scroll down to your Schedule F.    Then scroll down the Schedule F until you see the Qualified Business Income Deduction Smart Worksheet (it is about half-way down the page) area, and delete the line 5c amount and replace it with a zero (0.) and that should correct the QBI on Form 1040.   
@Jtrain4 wrote: Thank you so much for taking the time to explain to me things in such good detail. This has been so helpful. I'm new here, and I don't mean anything by this, I just don't know wh... See more...
@Jtrain4 wrote: Thank you so much for taking the time to explain to me things in such good detail. This has been so helpful. I'm new here, and I don't mean anything by this, I just don't know what this forum really is. Are you and the others who respond tax people preparers? People with "expert" are Turbotax employees.  People with "Champ" next to their names are experienced volunteers who have been on the board for a while, have agreed to a code of conduct, and have been vetted by the moderators for being mostly accurate most of the time.   Anyone without a label can be anyone.  (Some are former champs who object to the code of conduct for whatever reason.)   Some are accountants, or tax preparers, even attorneys, some are just knowledgeable volunteers.  I am not a paid preparer, I do this as a hobby, and I tend to stick to areas that I most comfortable, which includes church and clergy taxes because I was in that area as my church's treasurer for several years. 
You can contact TurboTax Customer Support using this link: Turbo Tax Customer Support.  
What happens once you apply for an IP Pin? What are the next steps? So I get a Pin, then what? Does the IRS prompt you to refile?  Does Turbo tax refile automatically? 
You'll need to enter the name/address of the DAF, just as if you had donated to a charity. Here's more info on Reporting Donations to a Donor Advised Fund.   @dazedconfused 
To get past the CUSIP number error for a 1099-INT when you are e-filing, try leaving the CUSIP/Box 14 field blank. The IRS does not require this number for most interest income.   Sometimes a blank... See more...
To get past the CUSIP number error for a 1099-INT when you are e-filing, try leaving the CUSIP/Box 14 field blank. The IRS does not require this number for most interest income.   Sometimes a blank state box (16-17) causes an error.  Clear any data fields that may be incorrectly filled or have zeros.   If this does not help try deleting any Form(s) 1099-INT that may be incomplete or have an error.   If you are using TurboTax Online you can delete a Form 1099-INT as follows: In your left panel of your TurboTax screen click on "Tax Tools" And then Click on "Tools" Click on "Delete a Form" Scroll through your list of Forms Click the garbage can next to "Form 1099-INT" If you are using TurboTax Desktop, you can delete a Form 1099-INT as follows: Click on "Forms" in the upper right of your TurboTax screen to switch to "Forms Mode" In your left panel scroll down and look for "Form 1099-INT" In your right panel at the bottom of Form 1099-INT, click on "Delete Form" Click on "Yes" to confirm the deletion.   You can enter your forms 1099-INT manually using the instructions below: Click on Search at the top right of your TurboTax screen. Type 10999-INT in the search box Click on the link "Jump to 1099-INT" It will ask, "Did you have investment income in 2024?" Select "Yes" Select "Continue" Select "Skip Import" You will Select your investment type which is "Interest" (the box will turn green) You will "Continue" Then you will see the screen "Let's get the info from your 1099-INT" You will type in the information from your Form 1099-INT on that page. Answer the follow-up questions. You will be able to select "Add Investments" to add additional Form(s) 1099-INT.   Click here for information on entering a Form 1099-INT.   Click here for How to Delete Forms in TurboTax Desktop.   Click here for "How to View and Delete Forms in TurboTax Online.   Please return to Community if you have any additional information or questions and we would be happy to help.
I file as a sole Proprietor with my personal taxes.  My 1099K (EBAY) does not include the deductions for fees, shipping etc. I do not see anywhere to take any deductions.  Do I have to have an LLC to... See more...
I file as a sole Proprietor with my personal taxes.  My 1099K (EBAY) does not include the deductions for fees, shipping etc. I do not see anywhere to take any deductions.  Do I have to have an LLC to take these deductions?  The standard deduction is still  not equal to the cost of fees & shipping.  Thanks 
MEDICAL EXPENSES The medical expense deduction has to meet a rather large threshold before it can affect your return. The amount of medical (including dental, vision, etc.)  expenses that will coun... See more...
MEDICAL EXPENSES The medical expense deduction has to meet a rather large threshold before it can affect your return. The amount of medical (including dental, vision, etc.)  expenses that will count toward itemization is the amount that is OVER 7.5% of your adjusted gross income. You should only enter the amount that you paid in 2025—do not include any amounts that were covered by insurance or that are still outstanding.  Of course, your medical expenses plus your other itemized deductions still have to exceed your standard deduction before you will see a difference in your tax due or refund.   To enter your medical expenses go to Federal>Deductions and Credits>Medical>Medical Expenses       2025 STANDARD DEDUCTION AMOUNTS SINGLE $15,750  (65 or older/legally blind + $2000) MARRIED FILING SEPARATELY $15,750  (65 or older/legally blind +1600) MARRIED FILING JOINTLY $31,500  (65 or older/legally blind + $1600) HEAD OF HOUSEHOLD $23,625 (65 or older/legally blind + $2000)    
I answered questions for the home office deduction, and it says, 'based on this info you qualify'. I answer more questions, choose the simplified deduction, and it says I'm not qualified due to my ne... See more...
I answered questions for the home office deduction, and it says, 'based on this info you qualify'. I answer more questions, choose the simplified deduction, and it says I'm not qualified due to my net profit being zero of less. This is not true though. I show a profit net income of thousands of dollars. What should I do?