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yesterday
Or is it non qualified?
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yesterday
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yesterday
first action directed solution that i understood,
yesterday
Thanks for the answer. On a different IRA, I missed making my 2025 RMD. Could the excess 2025 RMD on this IRA be counted as satisfying my total 2025 RMD (all IRA's)?
yesterday
When entering the sale of the property in the Rental section it is asking for the following: 1. Asset Sales Price 2. Asset Sales Expenses 3. Land Sales Price 4. Land Sales Expenses Need guida...
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When entering the sale of the property in the Rental section it is asking for the following: 1. Asset Sales Price 2. Asset Sales Expenses 3. Land Sales Price 4. Land Sales Expenses Need guidance on how to determine the values for each.
yesterday
I don’t know if I ever paid for the points. How do I find that out?
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yesterday
Where do I add the taxes? I went to a professional company, and they didn't know either... It's confusing for me if the professionals don't know.. how would I? Thanks a bunch!
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yesterday
Do I enter under Sale of Home or under the Rental Properties and Royalties or both? We qualified for the exemption since we lived in the home for at least 24 months within the 5 years before the ...
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Do I enter under Sale of Home or under the Rental Properties and Royalties or both? We qualified for the exemption since we lived in the home for at least 24 months within the 5 years before the sale.
yesterday
It could be that the loss carryovers from the prior year are not capital losses, and they are some other type of loss (i.e. passive loss or net operating loss). This would explain why the losses ar...
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It could be that the loss carryovers from the prior year are not capital losses, and they are some other type of loss (i.e. passive loss or net operating loss). This would explain why the losses aren't being applied to your current year capital gains.
yesterday
TurboTax Premier - entered information on 3 separate Schedule K-1 forms on our Federal taxes, but only one of those transferred over to our Maryland state return. We're wary of adding the other two m...
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TurboTax Premier - entered information on 3 separate Schedule K-1 forms on our Federal taxes, but only one of those transferred over to our Maryland state return. We're wary of adding the other two manually -- will any changes we make to the Federal K-1 then transfer over to the state since the state K-1 was entered separately? Is there a way to force the transfer of those K-1s already entered on the Federal return to the State return?
yesterday
I received money from a trust as an inheritance. I am trying to enter info from the K1 I received. Where do I find passive loss carryovers, regular tax and alt. min. tax on the K1 ?
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yesterday
To enter estimated tax paid in 2025
Go to Federal>Deductions and Credits>Estimates and Other Taxes Paid>Estimates
yesterday
My daughter accidentally over funded her HSA by $900 in 2024. We took the penalty tax on the 900 and were going to under fund this year by $900. The max this year was $4300 for her and she (and h...
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My daughter accidentally over funded her HSA by $900 in 2024. We took the penalty tax on the 900 and were going to under fund this year by $900. The max this year was $4300 for her and she (and her employer) put in $3400. On the Form 8889 it shows the $3400 contribution and line 13 shows $900. Is this all she needs to do to correct this situation? And she can fully contribute now in 2026?
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yesterday
How do I apply the estimated taxes paid in 2025 towards the federal taxes due
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yesterday
You can't copy forms to create new entries; you have to click on Add another 1099-R to add a new form. All forms are listed on the summary page and they can be edited individually, but not as a gro...
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You can't copy forms to create new entries; you have to click on Add another 1099-R to add a new form. All forms are listed on the summary page and they can be edited individually, but not as a group. You can copy the fields into your clipboard and paste them from the clipboard, but TurboTax does not support bulk editing of 1099-R forms.
yesterday
I have a rental property. It was vacant for 48 days while I was looking for a new tenant after the previous tenant vacated. How do I answer the question on how many days it was rented, since the prop...
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I have a rental property. It was vacant for 48 days while I was looking for a new tenant after the previous tenant vacated. How do I answer the question on how many days it was rented, since the property was available for rent during the 48 days?
yesterday
If it is a long-term transaction, pick a date more than a year ago. If it is a short-term transaction, pick a date less than a year ago.
yesterday
You should've received a 1099-B or a 1099-COMP from the brokerage company where the stock is being held. You will use that form to report the sale on your tax return.
Here are a few links tha...
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You should've received a 1099-B or a 1099-COMP from the brokerage company where the stock is being held. You will use that form to report the sale on your tax return.
Here are a few links that further explain how a sale of stock purchased through a ESPP is treated on your return:
Do I need to enter ESPP transactions?
How do I enter Employee Stock Purchase Plan (ESPP) sales in TurboTax?
yesterday
Since there is no Line S on Form 8615, it is most likely referring to Line 5. Here's line-by-line Instructions for Form 8615 and also more info on Kiddie Tax to help you.
@jctx
yesterday
1 Cheer
I suggest you enter the same amount as the distribution. It is not used for anything other than the software determining whether or not you met your RMD. What you enter is not used on your tax retu...
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I suggest you enter the same amount as the distribution. It is not used for anything other than the software determining whether or not you met your RMD. What you enter is not used on your tax return. Entering the same amount as the distribution keeps it simple.