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yesterday
The blended tax rate has nothing to do with how your tax is calculated. It's an essentially meaningless number. You should ignore it.
The blended tax rate is an attempt to give you an idea of the...
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The blended tax rate has nothing to do with how your tax is calculated. It's an essentially meaningless number. You should ignore it.
The blended tax rate is an attempt to give you an idea of the overall percentage of your income that you pay in tax. The basic idea is that it's the tax divided by income, expressed as a percentage. But exactly what taxes are included and what income is included is not clearly defined. (You can find posts telling you how it's calculated but they don't all say the same thing.)
yesterday
It stands for Fair Labor Standards Act overtime. You can choose the option for overtime in the dropdown for box 14. To enter your overtime in TurboTax Online, follow these steps: 1. Go to th...
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It stands for Fair Labor Standards Act overtime. You can choose the option for overtime in the dropdown for box 14. To enter your overtime in TurboTax Online, follow these steps: 1. Go to the Income section and start or edit your W-2. 2. Enter your W-2 exactly as it appears; if overtime is in Box 14, enter the description and amount, then select Overtime from the category dropdown on the following screen. 3. Confirm that the amount is just the overtime premium (the half in time-and-a-half). If it is not, you will have the opportunity to adjust in the interview following the W-2 entry. To qualify for the overtime deduction, you must meet these requirements: You must be a non-exempt employee who is eligible for overtime under federal law (FLSA). Your filing status cannot be Married Filing Separately. Your modified adjusted gross income must be below $150,000 or less ($300,000 for joint filers) to be eligible for the maximum deduction, If your income is over $150,000 ($300,000 for joint filers), then the deduction begins to reduce by $100 for each $1,000 of MAGI over the applicable threshold amount. Once your MAGI hits $275,000 ($550,000 for joint filers), the overtime deduction is not available. The pay must be for hours worked over 40 in a single workweek, and only the overtime premium (the extra "half" in time-and-a-half pay) is qualified for the deduction. Here is an article you may find helpful: No Tax on Overtime Explained: Qualified Overtime Deduction Rules for 2025
yesterday
Actually, it’s the opposite! For IRS tax purposes, the weight that matters is almost always the GVWR (Gross Vehicle Weight Rating), not the "unladen" or curb weight. Since your F-150 has a GVWR of 6,...
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Actually, it’s the opposite! For IRS tax purposes, the weight that matters is almost always the GVWR (Gross Vehicle Weight Rating), not the "unladen" or curb weight. Since your F-150 has a GVWR of 6,900 lbs, it is actually classified as a "Heavy Vehicle" (over 6,000 lbs) by the IRS, regardless of its 5,333 lb empty weight or the "light vehicle" label on your registration.
This is good news because your F‑150 qualifies as a >6,000‑lb lb vehicle for tax purposes. Being over the 6,000 lb GVWR threshold generally allows for much more aggressive tax deductions than a "light" vehicle (under 6,000 lbs).
Section 179 Deduction: Heavy vehicles (6,000–14,000 lbs) qualify for higher immediate expensing limits. For 2026, the limit for "heavy SUVs" is roughly $32,000, but because your F-150 has a full-sized truck bed (likely over 6 feet), it might even qualify for a full 100% deduction of the purchase price in the first year under current bonus depreciation rules.
yesterday
To add your 2025 Form 1040-ES estimated tax payments in TurboTax, you can go to the Deductions & Credits section, and locate Estimates and Other Taxes Paid, and then select Start/Update next to "Est...
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To add your 2025 Form 1040-ES estimated tax payments in TurboTax, you can go to the Deductions & Credits section, and locate Estimates and Other Taxes Paid, and then select Start/Update next to "Estimated Tax Payments". Enter your payment amounts for each quarter here to make sure they are properly credited against your 2025 federal tax liability.
You can also:
Click on Search at the top right of your TurboTax screen
Type estimated tax payments in the search box
Click on the link Jump to estimated tax payments
Under Estimated tax payments, enter your information regarding your estimated payments for 2025
Click on Start to the right of Federal Estimated taxes
Click here for Where do I enter my estimated tax payments?
Click here for Estimated Taxes: How to Determine What to Pay and When.
If you have additional information or questions regarding this, please return to Community and we'd be glad to help.
yesterday
"FLSA OT" (or "FLSA OT Prem") in Box 14 of your W-2 represents the Fair Labor Standards Act Overtime Premium pay. It identifies the "half" portion of your "time-and-a-half" pay (50% of your hourly ra...
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"FLSA OT" (or "FLSA OT Prem") in Box 14 of your W-2 represents the Fair Labor Standards Act Overtime Premium pay. It identifies the "half" portion of your "time-and-a-half" pay (50% of your hourly rate) for hours worked over 40 hours in a workweek
Select the category Overtime
yesterday
I'm retired, so not covered by a retirement plan anymore. I earn Social Security and have a very small self-employment income. My wife still works and is covered by a retirement plan. Our joint incom...
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I'm retired, so not covered by a retirement plan anymore. I earn Social Security and have a very small self-employment income. My wife still works and is covered by a retirement plan. Our joint income is probably in the phase out zone, but TurboTax is showing that we are both covered (X in both boxes on SS Recipients worksheet 2) and says we cannot contribute. I can't find a way to uncheck the X for me, so I'm calculating our MAGI to do it myself. That says I should be able to do a partial IRA contribution for myself but TT says no. What percentage will be deductible is not obvious. Is there an error here? How can I be very sure of the correct MAGI? And how can I calculate how much I can contribute before the deadline? Thanks.
yesterday
oh that's sucks... it is there... TT displays this very poorly, so already figured and still owe...
yesterday
To import 1099 forms in TurboTax,
Under Federal
Wages & Income,
Scroll to the 1099 type (e.g., 1099-B, 1099-INT) under
Investment Income
Other Common Income.
Choos...
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To import 1099 forms in TurboTax,
Under Federal
Wages & Income,
Scroll to the 1099 type (e.g., 1099-B, 1099-INT) under
Investment Income
Other Common Income.
Choose the option to import,
Then select your financial institution,
Enter your login credentials.
yesterday
Base on all comments in this issue posted, I can think about this is TURBOTAX fault. Its software isn't completely qualified to support customers included myself, too bad! I don't suppose to have any...
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Base on all comments in this issue posted, I can think about this is TURBOTAX fault. Its software isn't completely qualified to support customers included myself, too bad! I don't suppose to have any contact to IRS to get resolve though...
yesterday
From what I can see I qualify and I am filing single, but it is only giving me my standard deduction plus additional deduction for my self-employment expenses (totaling 17K), so I still have federal d...
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From what I can see I qualify and I am filing single, but it is only giving me my standard deduction plus additional deduction for my self-employment expenses (totaling 17K), so I still have federal due of $616 and I thought the new senior deduction would have been added and reduced what I owe and or helped to give me a refund
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yesterday
The IRS didn't look at it that way. I expected an $8000 return and received $4500. The AGI was supposed to be $150,000 not $115,000. I spoke to them and the $35,000 was supposed to be added as inc...
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The IRS didn't look at it that way. I expected an $8000 return and received $4500. The AGI was supposed to be $150,000 not $115,000. I spoke to them and the $35,000 was supposed to be added as income. Not a 0.
yesterday
This is for State filing
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yesterday
Thanks for the suggestion; I just tried it and unfortunately it does not resolve my issue. It's just odd that one of the symptoms here is that the File dropdown menu works before I load the retur...
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Thanks for the suggestion; I just tried it and unfortunately it does not resolve my issue. It's just odd that one of the symptoms here is that the File dropdown menu works before I load the return and does not work after the return is loaded. It seems like there's a bug with loading something that only shows up there when a return is active.
yesterday
I don't know what "gc no amount 20$" is. What is the exact entry in box 14 on your W-2? Do you know what it's for or what it represents?
There are no standard rules for what goes in box 14 on a W...
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I don't know what "gc no amount 20$" is. What is the exact entry in box 14 on your W-2? Do you know what it's for or what it represents?
There are no standard rules for what goes in box 14 on a W-2, and no standard codes or abbreviations. The employer can put pretty much anything they want in there. If there is something you don't understand, you have to ask your employer what it means.
What state did you work in?
yesterday
See this for importing Forms 1099 - https://ttlc.intuit.com/community/entering-importing/help/how-do-i-import-my-1099/01/26254?search-action-id=620251640864&search-result-uid=26254
yesterday
This is in box 14.
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yesterday
Ok, thank you so much, but one more question. Can my son have a higher % allocated, like could we do 90% him and 10% us? Can he have a higher % than my husband or I. By doing this, we do equal 100...
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Ok, thank you so much, but one more question. Can my son have a higher % allocated, like could we do 90% him and 10% us? Can he have a higher % than my husband or I. By doing this, we do equal 100% but it gives us both a better outcome.
yesterday
I didn't receive one.
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yesterday
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yesterday
The likely issue is that marking yourself as a Goods Delivery Worker doesn’t automatically trigger the tips deduction in TurboTax. For 2025, you must explicitly enter your tips separately. TurboTax h...
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The likely issue is that marking yourself as a Goods Delivery Worker doesn’t automatically trigger the tips deduction in TurboTax. For 2025, you must explicitly enter your tips separately. TurboTax has a specific screen titled Let's check if you can deduct any tips after entering your self-employment income. To ensure tips are deducted: 1. Enter your gig income including tips as total income. 2. When prompted in the self-employment section, answer Yes to the question about tips included in your income. 3. Enter the amount of tips you received. 4. TurboTax will then check if you qualify for the tip deduction and automatically apply it. Without completing this tip-specific step, tips won’t be deducted even if you selected your occupation as a Goods Delivery Worker.