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yesterday
Thank you for the explanation! That was the issue as the value you indicated had replaced the standard deduction. I now realize that my son no longer fits the criteria as a dependent, so the fix is a...
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Thank you for the explanation! That was the issue as the value you indicated had replaced the standard deduction. I now realize that my son no longer fits the criteria as a dependent, so the fix is an easy one!
yesterday
I am in Wisconsin also, and I interpreted this to mean that the discount (accrued market discount) is indeed taxable. In fact, it says it has NO EFFECT on the tax-exempt income. If one did exclude it...
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I am in Wisconsin also, and I interpreted this to mean that the discount (accrued market discount) is indeed taxable. In fact, it says it has NO EFFECT on the tax-exempt income. If one did exclude it from Wisconsin taxes, then presumably the amount of tax exempt income would go up.
yesterday
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yesterday
Yes, if you are referring to the terms "Qual OT" or "Qualified Overtime Compensation" it is referring to overtime for the new tax deduction available in TurboTax for the 2025–2028 tax years.
I...
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Yes, if you are referring to the terms "Qual OT" or "Qualified Overtime Compensation" it is referring to overtime for the new tax deduction available in TurboTax for the 2025–2028 tax years.
It is part of the "No Tax on Overtime" provision, which allows eligible workers to deduct up to $12,500 of premium overtime pay ($25,000 for married joint filers) from their federal taxable income.
Click here for No Tax on Overtime Explained: Qualified Overtime Deduction Rules for 2025
Click here for Questions and answers about the new deduction for qualified overtime compensation
Please return to Community if you have any additional information or questions and we would be happy to help.
yesterday
Yes, it could be. Your home damage from the Eaton Fire (January 2025) is considered a "qualified disaster loss" and can therefore create a Net Operating Loss (NOL). This happens if the total amount ...
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Yes, it could be. Your home damage from the Eaton Fire (January 2025) is considered a "qualified disaster loss" and can therefore create a Net Operating Loss (NOL). This happens if the total amount of your uninsured fire loss is larger than your total income for the year, creating taxable income below zero.
Because the Eaton Fire was part of a major federal disaster declaration, you can either claim this loss on your current 2025 return to carry the "extra" loss forward to future years or file an amended 2024 return to get a refund on taxes you paid last year.
When you enter the disaster loss details into TurboTax, a Form 4684 will be generated to calculate this and will automatically track any leftover loss as an NOL.
yesterday
Can 1099 MISC employees receive the overtime exemption and if so, how do I enter it into TurboTax?
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yesterday
@user17705936669 well....Deluxe Online won't do any stock transactions or Cap gains for Mutual fund distributions, nor Self-Employment/Gig income......and a bunch of other stuff. Deluxe deskto...
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@user17705936669 well....Deluxe Online won't do any stock transactions or Cap gains for Mutual fund distributions, nor Self-Employment/Gig income......and a bunch of other stuff. Deluxe desktop will do everything. Those are just some guesses...without knowing details of your income types...there's no way for us to tell. _______________ Scroll down this page and there's two tables showing what, and what cannot be done with Online Deluxe, something might show up...most likely in the second table: Free Tax Filing - $0 Fed. $0 State. $0 to File. | TurboTax 2025-2026
yesterday
It could be related to Form CT-W4 Employee’s Withholding Certificate. This form has codes that are used to determine the amount of state withholding to withhold from wages. It uses withholding code...
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It could be related to Form CT-W4 Employee’s Withholding Certificate. This form has codes that are used to determine the amount of state withholding to withhold from wages. It uses withholding codes with letters A-F.
yesterday
Form IT-201 is the New York State Resident Income Tax Return. Form IT-201 (New York State Resident Income Tax Return) is generated automatically in TurboTax when you complete the federal return infor...
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Form IT-201 is the New York State Resident Income Tax Return. Form IT-201 (New York State Resident Income Tax Return) is generated automatically in TurboTax when you complete the federal return information and you have indicated that you are a New York resident.
You can get there by clicking on the "State Taxes" tab if you are using TurboTax Desktop, or selecting the State tab in the left menu after finishing your federal return. On the Let's get your state taxes done right screen, select Continue and follow the on-screen TurboTax instructions to enter your state-specific information.
If you have already filed your federal tax return, use the "Add a state" option to start.
Click here for How do I e-file my state after I have already filed my federal?
Please return to Community if you have any additional information or questions and we would be happy to help.
yesterday
"I'm thinking of using the detail section of the consolidated 1099-DIV to break out what a box 1a should be for each fund and then report the sum of the exclusion amounts and report that for the cons...
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"I'm thinking of using the detail section of the consolidated 1099-DIV to break out what a box 1a should be for each fund and then report the sum of the exclusion amounts and report that for the consolidated 1099-DIV government exclusion." is exactly what you need to do. Enter the 1099-DIV as provided and in the questions after you will be asked how much $ of the 1099-DIV Box 1a is US Gov. You have to calculate that total offline based on whatever funds and their respective percentages make up your 1099-DIV.
yesterday
In TurboTax Online, you may be able to Clear and Start Over.
Switch Products or Clear and Start Over may be found in the lower left hand corner of the screen if it is available to you.
...
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In TurboTax Online, you may be able to Clear and Start Over.
Switch Products or Clear and Start Over may be found in the lower left hand corner of the screen if it is available to you.
See also this TurboTax Help.
As long as you:
have not submitted payment,
deducted the TurboTax fee from your refund, or
registered your product,
you may erase your return and start from scratch in TurboTax Online. If you have done any of these things, you will need to manually edit your return.
yesterday
You may not need to enter your 529 Plan Distributions. A 1099-Q (reporting 529 plan or Coverdell ESA distributions) isn't always requird to be entered on your tax return. If the total distribution ...
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You may not need to enter your 529 Plan Distributions. A 1099-Q (reporting 529 plan or Coverdell ESA distributions) isn't always requird to be entered on your tax return. If the total distribution is used for qualified education expenses, then it is generally tax-free and nothing needs to be reported. However, you must enter it if the distribution exceeds expenses or if you are claiming education credits.
yesterday
Some customers may experience a new way to navigate TurboTax this tax season.
You will use Tax Home as your single location to find the next step in filling out your tax return and view items y...
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Some customers may experience a new way to navigate TurboTax this tax season.
You will use Tax Home as your single location to find the next step in filling out your tax return and view items you’ve completed.
To add more info to your tax return like forms or credits, select Need to add something else?.
You can then search for the section you need. If you want to go to a different section, first select Tax Home in the left menu. From there, you can choose what to do next.
Are you able to view these items under 2025 TAXES down the left side of the screen?
My Info
Federal
State Taxes
Review
File
Tax Tools
If so, you may click on the first item to enter names and addresses.
Click Federal to open up Wages & Income and Deductions @ Credits to report your income and deduction items.
yesterday
ALL I could suggest is to go back to the Personal Info section, Edit yourself and check the birthday showing there....should be around 1950. And..if using the desktop software...make sure it's th...
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ALL I could suggest is to go back to the Personal Info section, Edit yourself and check the birthday showing there....should be around 1950. And..if using the desktop software...make sure it's the 2025 set.
yesterday
Turn your paper W2 around, there is a legend to guide you thru the codes.
yesterday
Thanks for the reply. We received two separate 1095A forms one with just me and a policy number and another again my name as the subscriber but his name as the insured person. Now when I do as you ...
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Thanks for the reply. We received two separate 1095A forms one with just me and a policy number and another again my name as the subscriber but his name as the insured person. Now when I do as you said and share it with someone else it still asks for his income and then is asking for a recoupment I assume based off my income plus his. If I allocate the shared percentages as 0% myself and 100% him that would change the asked recoupment if he had very little income (full time college student working part time for a little spending cash)?
yesterday
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It appears I answered yes to the "Are you a U.S. citizen who lived abroad in one of these countries in 2025?" I corrected and the issue resolved. Thanks.
yesterday
To get a comparison for your 2024 & 2025 federal returns, you'll have to print your 2025 worksheets. Follow these steps:
Log in to your TurboTax account, ensuring you use the same User ID as...
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To get a comparison for your 2024 & 2025 federal returns, you'll have to print your 2025 worksheets. Follow these steps:
Log in to your TurboTax account, ensuring you use the same User ID as in previous years.
Upon viewing your prior-year summary, select Continue.
Scroll down on the next screen (product and pricing) and choose Your tax returns & documents.
Select the 2022 tax year (or any other year you need).
Click Download/print return (PDF).
If you don't see the return you are looking for, it may be associated with a different account. You can use this link to find all your accounts.
yesterday
Are you referring to line 21 of Kentucky form 740 that states Multiply line 19 by the Family Size Tax Credit decimal amount from Schedule ITC? Or are you referring to something else? Please clarify...
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Are you referring to line 21 of Kentucky form 740 that states Multiply line 19 by the Family Size Tax Credit decimal amount from Schedule ITC? Or are you referring to something else? Please clarify.
Nonrefundable Family Size Tax Credit
The family size tax credit is based on modified gross income and the size of the family. If total modified gross income is $42,760 or less for 2025, you may qualify for the Kentucky family size tax credit.