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yesterday
Have you already filed? If not you can remove that fee by paying the fees with a credit card. Are you using the Online version or the Desktop program? In the Desktop program it's usually for how ...
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Have you already filed? If not you can remove that fee by paying the fees with a credit card. Are you using the Online version or the Desktop program? In the Desktop program it's usually for how to pay the $25 state efile fee. If you use the $40 Pay with Refund service your refund has to go through a 3rd party bank to take the fees out. That is in addition to the TurboTax fees. So that might add time on to getting your refund. If you pay the fees upfront the refund goes directly from the IRS to you. Pay with Refund https://ttlc.intuit.com/turbotax-support/en-us/help-article/intuit-product-orders/refund-processing-service/L3zANb1OR_US_en_US
yesterday
It could be because the type of pension you have or the date distributions began. The general rule for the determination of the taxable portion of pension plan distributions is reserved for non-quali...
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It could be because the type of pension you have or the date distributions began. The general rule for the determination of the taxable portion of pension plan distributions is reserved for non-qualified pension plans and qualified plans that began prior to November 19, 1996. You can learn more in IRS Publication 575. Otherwise, you must us the simplified rule. If you qualify to use the general rule, you should review your answers to questions in TurboTax that you see after you enter your Form 1099-R, to make sure you answered them correctly.
yesterday
An IRA owner must calculate the RMD separately for each IRA that he or she owns, but can withdraw the total amount from one or more of the IRAs.
If you are sure that you have satisfied all RMD...
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An IRA owner must calculate the RMD separately for each IRA that he or she owns, but can withdraw the total amount from one or more of the IRAs.
If you are sure that you have satisfied all RMD requirements, then in TurboTax, on the form 1099-R for RMD withdrawals, answer that The entire distribution was an RMD then on the following page, to the question What is the RMD for your account? enter the amount of the distribution from that IRA account.
By doing this, you are telling TurboTax that all RMDs are satisfied and TurboTax will not calculate any penalty. The information you entered in TurboTax is to enable TurboTax to calculate any penalty where applicable, and is not reported to the IRS.
yesterday
TT provided me with the amount of my excess Roth contribution for 2025. I can not changed that amount now. I calculated the Income on the excess. I told the Bank the gross amount to withdraw...
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TT provided me with the amount of my excess Roth contribution for 2025. I can not changed that amount now. I calculated the Income on the excess. I told the Bank the gross amount to withdraw ASAP plus the additional income. I put there additional income into TT and TT recalculates a new balance to withdraw. It is a circular calculation. If I with draw the additional higher amount plus the income and place it into tT it will recalculate another amount. How do we handle this is? I already made the first withdrawal plus income.
yesterday
How do I download a copy of my 2024 taxes
yesterday
No one in the user forum can see your screen or your tax return, so we certainly cannot tell you anything about what is in your boxes 18 - 20----are you referring to boxes from your W-2? Those are...
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No one in the user forum can see your screen or your tax return, so we certainly cannot tell you anything about what is in your boxes 18 - 20----are you referring to boxes from your W-2? Those are the boxes on a W-2 that would show local taxes. What is the error message you are getting?
yesterday
You can apply for an IRS payment plan HERE.
yesterday
I have two IRA rollover accounts with the same custodian that issues an RMD for each account. I withdrew more than enough to fulfill the total RMD but took more of it from one account. How do I respo...
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I have two IRA rollover accounts with the same custodian that issues an RMD for each account. I withdrew more than enough to fulfill the total RMD but took more of it from one account. How do I respond to the inquiries to reflect this on TT. I have cited the total RMD for both accounts and TT is allocating penalty tax for under withdawing.
yesterday
Topics:
yesterday
Yes, TurboTax Online and TurboTax Desktop can handle the Section 1031 (like-kind) exchange. The details and entry are provided for you below. Depreciation Rules: The basic concept of a 1031 exchang...
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Yes, TurboTax Online and TurboTax Desktop can handle the Section 1031 (like-kind) exchange. The details and entry are provided for you below. Depreciation Rules: The basic concept of a 1031 exchange is that the basis of your Old Property rolls over to your New Property. In other words, if you sold your Old Property for $100,000, and bought your New Property for the same, your basis on the New Property would be the same. It makes sense then that your depreciation schedule would be exactly the same, and does not change! In other words, you continue your depreciation calculations as if you still own the Old Property (your acquisition date, cost, previous depreciation taken, and remaining un-depreciated basis remain the same). Buy Up: If you 'buy up' in your exchange (your New Property cost more than you sold your Old Property), the answer is easy – you treat the buy up part as you would a new addition to an existing property. In other words, you treat the amount of the buy-up the same as you would the cost of construction, for example, of a garage added to an existing house – the cost is the amount of the buy-up; the date you start depreciating it is the date you purchased the new property; and the depreciation method you use is the method most appropriate for that type of property in the year you bought the New Property (regardless of the method you used for the original house). If you think of it this way, then it's easy, even if your property is a large office building or a more complex purchase. IRS Fact Sheet-Section 1031 When you have your TurboTax return open you can use the following steps to update the original assets for the exchange. First use the Search (upper right) > Type rentals > Press enter > Click on the Jump to... link Or Wages & Income > Rental Properties and Royalties > Update > Continue to Rental and Royalty Summary > Edit the property Scroll to Assets/Depreciation > Click Update > Select 'Edit' next to each asset Edit beside each asset > Continue to the Tell Us About This Rental Asset Select the checkbox beside 'This item was sold, retired, .... traded in ....etc. > enter the date it was traded (sold/retired) You can choose not to select this and just change the name of the assets given up in the trade to identify them with the new property. The depreciation for the year will not change on these assets. Answer the question about whether it was 100% business > Leave the original date it was placed in service (may be purchase date or later depending on your circumstances) Continue to the screen 'Confirm Your Prior Depreciation' The amount displayed is only for prior years and does not include the current year. Continue until you see the current year amount displayed and make a note to add the two amounts together for the Section 1031 like kind exchange. This completes the asset portion of the trade. Answer 'Yes' to Special Handling. Next you will complete the like kind exchange, Form 8824 (Section 1031 exchange): Use the Search (upper right) > Type like kind > Press enter > Click on the Jump to... link Select the checkbox beside 'Any additional like-kind exchanges (section 1031)' > Continue Complete the information for the 'Real estate given up' and 'Like-Kind Property Given Up' > Continue Name the event > Continue > Complete the information for the 'Like-kind property received' If you did not give unlike property in the exchange click 'No' and continue past these screens, if 'Yes' answer the questions. Enter any exchange expenses (sales expenses) > Continue to see your deferred gain. If you marked the original assets as sold, traded, etc (see 5. above) then go back to your rental activity and then enter new assets with the exact same information as the property given up with a new name, but with the same date placed in service as the old property, for all assets that are part of the exchange. Enter a new asset for any buy up/added cash in the exchange including the purchase/selling expenses you paid in the trade. The new asset will begin depreciation on the completion date of the trade/like kind exchange. These links may be helpful as well: Where do you enter a like-kind or Section 1031 exchange? IRS Instructions for Form 8824
yesterday
My business return was "submitted" and "Accepted" both on Feb 8th.
yesterday
You're going to have to go back and reverse the miscellaneous credit that you added. If you added that in the 'Less Common Income' or 'Miscellaneous Income' section then you just need to go in there...
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You're going to have to go back and reverse the miscellaneous credit that you added. If you added that in the 'Less Common Income' or 'Miscellaneous Income' section then you just need to go in there and delete the credit.
yesterday
This should be updated.
If you are using desktop software you may need to do a manual update. Try clearing your Cache and Cookies and then try this link instructions.
If you are using th...
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This should be updated.
If you are using desktop software you may need to do a manual update. Try clearing your Cache and Cookies and then try this link instructions.
If you are using the online software, Clear Cache and Cookies.
yesterday
@uschles Wow, this issue still exists? It seems I didn't report this in 2025, and I haven't started taxes yet this year, so idk what it will be like this time for me, but for the 2024 issue, IIR...
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@uschles Wow, this issue still exists? It seems I didn't report this in 2025, and I haven't started taxes yet this year, so idk what it will be like this time for me, but for the 2024 issue, IIRC since they were different Marcus accounts, I created one instance per account.
yesterday
Box 14 on a W-2 is used to report the Fair Labor Standards Act Overtime Premium (FSLA) which is only the extra "half" portion of time-and-a-half pay, not your total overtime wages. This amount is use...
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Box 14 on a W-2 is used to report the Fair Labor Standards Act Overtime Premium (FSLA) which is only the extra "half" portion of time-and-a-half pay, not your total overtime wages. This amount is used to calculate the new federal overtime tax deduction.
For the 2025 tax year, employers can voluntarily use Box 14 on Form W-2 to report qualified overtime compensation (sometimes labeled as "FLSA OT Prem) or Qualified OT. This number is used to calculate the tax deduction for overtime. For single taxpayers, up to $12,500 can be claimed and for Married Filing Jointly up to $25,000 can be claimed for this deduction.
You will only be able to deduct the “overtime premium” portion of your total overtime pay. This is the "half” portion of the “time-and-a-half” overtime pay required by the FLSA.
TurboTax will guide you through calculating your overtime deduction.
See also:
No Tax on Overtime Explained: Qualified Overtime Deduction Rules for 2025
What is the new tax law for overtime pay?
Please return to Community if you have any additional information or questions and we would be happy to help.
yesterday
Yes, I have searched numerous sources, and I have seen no indication that the bill has been passed unless it's tucked away in one of those best-kept secrets places.
If you are 100% certain th...
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Yes, I have searched numerous sources, and I have seen no indication that the bill has been passed unless it's tucked away in one of those best-kept secrets places.
If you are 100% certain that you should not be classified as a Maryland resident, you may make the allocation in your Maryland return regarding your non-exempt interest.
@mkaprelian
yesterday
Sounds like something got stuck. You can try these things:
Log Out Completely: Before doing anything else, click Sign Out in the TurboTax menu.
Clear Cache and Cookies: This removes old, ...
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Sounds like something got stuck. You can try these things:
Log Out Completely: Before doing anything else, click Sign Out in the TurboTax menu.
Clear Cache and Cookies: This removes old, "corrupted" data that might be confusing the website.
Use an Incognito (Private) Window: This is the most effective "quick fix" because it launches the browser without any saved history or extensions (like AdBlockers) that often interfere with tax forms.
Check Pop-up Blockers: TurboTax often opens forms (like the 1099 PDF) or payment windows in a separate pop-up. Look at the right side of your address bar for a small icon with a "red X"—click it and select "Always allow pop-ups from Intuit."
Restart the Browser: Close all open windows of your browser entirely and then reopen it.
Most TurboTax errors happen because the browser is trying to use an old "session" from a previous visit. By clearing the cache or using Incognito mode, you force the browser to establish a brand-new, secure connection with the Intuit servers.
yesterday
Business electronically filed returns are generally processed within 21 days. You can go ahead and make the changes you need but wait before you submit your return again.
Processing status f...
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Business electronically filed returns are generally processed within 21 days. You can go ahead and make the changes you need but wait before you submit your return again.
Processing status for tax forms
How do I amend my federal tax return with TurboTax Business Desktop?
@traviswayde
yesterday
We'd love to help you complete your tax return, but need more information. Can you please clarify your question?
yesterday
I have the same problem as Mariaz and the other two members below. I don't see any solution in the replies. Line 12 shows a red 0, and doing the math it should be $23. I'm using TurboTax Premier desk...
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I have the same problem as Mariaz and the other two members below. I don't see any solution in the replies. Line 12 shows a red 0, and doing the math it should be $23. I'm using TurboTax Premier desktop. Help!