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16 hours ago
Yes, you should include all of your worldwide income on your tax return regardless of the source.
Take a look at the following TurboTax help article for information about entering your Form 1...
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Yes, you should include all of your worldwide income on your tax return regardless of the source.
Take a look at the following TurboTax help article for information about entering your Form 1099-B:
Where do I enter or import a 1099-B?
17 hours ago
We can't make that contact for you through this forum.
I suggest you contact TurboTax support at What's the TurboTax contact number information
17 hours ago
This is normal, especially if the selected date was on the weekend. The IRS usually won’t process the payment until the next business day or later.
After that, it can still take 1–2 additional ...
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This is normal, especially if the selected date was on the weekend. The IRS usually won’t process the payment until the next business day or later.
After that, it can still take 1–2 additional business days for the withdrawal to show in your bank account.
You can wait a few business days and confirm the payment status in your IRS account.
17 hours ago
TurboTax does not provide a field to enter or correct the TID (Transmitter Identification Number) for a 1099-DIV. If the IRS rejects your return due to a TID-related issue, it is usually because of a...
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TurboTax does not provide a field to enter or correct the TID (Transmitter Identification Number) for a 1099-DIV. If the IRS rejects your return due to a TID-related issue, it is usually because of a mismatch on the form issued by the payer. To address this: 1. Double-check that your 1099-DIV data matches exactly what is on your physical form. 2. Contact the payer if you suspect their TID or information is incorrect and ask for a corrected form. 3. If your e-filed return keeps getting rejected after verifying entries, you have the option to print your tax return and mail it to the IRS instead of e-filing. Mailing your return can bypass electronic TID validation issues, allowing you to submit your return manually when e-filing is not successful due to TID errors.
17 hours ago
If you feel that you were incorrectly charged, see our help article to request a refund. How do I request a refund for my TurboTax product?
17 hours ago
Scholarships that pay for qualified educational expenses (QEE) (tuition, fees, books and other course materials) is tax free. Scholarship amounts that exceed QEE is taxable income, on the student’s ...
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Scholarships that pay for qualified educational expenses (QEE) (tuition, fees, books and other course materials) is tax free. Scholarship amounts that exceed QEE is taxable income, on the student’s tax return.
If box 5 of the 1098-T exceeds box 1, TurboTax (TT) will treat the difference as taxable income, unless you enter additional QEE at books and other expenses. Room & board or off campus living expenses and transportation are not QEE. Your student loans are irrelevant to the calculation.
Here's a post on the five main points on the 1098-T:
https://ttlc.intuit.com/community/college-education/discussion/re-what-do-i-do-with-form-1098t/01/3760212#M63114
17 hours ago
1 Cheer
It is asking for your business name. If you do not have a business name, just use your first and last name.
Income reported on Form 1099-NEC for services you performed is considered to be se...
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It is asking for your business name. If you do not have a business name, just use your first and last name.
Income reported on Form 1099-NEC for services you performed is considered to be self-employment income reported on Schedule C, which is for business income and expenses. The dance studio that paid you considered you an independent contractor, not an employee of their business.
To learn more, take a look at the following TurboTax help articles:
How do I report income from self-employment?
What's the difference between self-employment income and other income?
17 hours ago
1 Cheer
I know the 1099s refer to NFS as payer but have you tried using the Fidelity Investments for the import?
17 hours ago
If your 1099-MISC from the Oregon Paid Leave Program is being classified as self-employment income in TurboTax, you can correct this by re-entering the form and specifying that the income isn't from ...
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If your 1099-MISC from the Oregon Paid Leave Program is being classified as self-employment income in TurboTax, you can correct this by re-entering the form and specifying that the income isn't from self-employment. To adjust this in TurboTax: 1. Go to Federal Taxes > Wages & Income. 2. Find the section for 1099-MISC and choose to edit the entry. 3. When asked if this income is self-employment income, answer No. 4. Confirm that it should be reported as Other Income or Nonbusiness Income. This tells TurboTax that the income was a benefit payment rather than earned self-employment income. The program should then properly categorize it outside of self-employment tax.
@hlynnyoung615
17 hours ago
That would require you to complete your tax return.
You can view your 1040 tax return and the supporting three schedules in the online version of TurboTax.
On the left menu, scroll dow...
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That would require you to complete your tax return.
You can view your 1040 tax return and the supporting three schedules in the online version of TurboTax.
On the left menu, scroll down to Tax Tools.
If necessary, click the side arrow and select Tools.
A box will appear in the middle of the screen.
Select View Tax Summary.
A tax summary will appear.
On the left side menu bar, select Preview My 1040.
This will bring up a copy of your 1040 Tax return.
Some key numbers on the form are:
Refund is posted to line 34
Amount you Owe is line 37
17 hours ago
We'd love to help you complete your tax return, but need more information. Can you please clarify your question?
17 hours ago
To enter a 1099-MISC as "Other Income" (not self-employment income) for multiple years in TurboTax Online, follow these steps: 1. Go to Wages & Income in the Federal Taxes section. 2. Scroll down...
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To enter a 1099-MISC as "Other Income" (not self-employment income) for multiple years in TurboTax Online, follow these steps: 1. Go to Wages & Income in the Federal Taxes section. 2. Scroll down to Other Common Income and select Start next to Form 1099-MISC. 3. When asked if this is self-employment income, select No to report it as non-business income. 4. For each year you received the 1099-MISC, add a separate entry and ensure you select it as Nonbusiness Income. TurboTax treats 1099-MISC box 3 or similar types differently based on your answers. Be sure to answer "No" when it asks if this income is from work like your main job to avoid self-employment classification. This keeps the income as "Other Income" rather than self-employment income, suitable for compensation like child care wages under certain state programs.
17 hours ago
AI method is a huge pain you have to calculate yourself the quarterly AGI, withholding, qualified divs, cap gain etc (uneven quarters thru 3/31, 5/31, 8/31, 12/31) it's like doing 3 extra tax returns...
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AI method is a huge pain you have to calculate yourself the quarterly AGI, withholding, qualified divs, cap gain etc (uneven quarters thru 3/31, 5/31, 8/31, 12/31) it's like doing 3 extra tax returns, you may have to do it for state also. It's helpful if you have an unplanned Q4 event like Roth conversion and need to pay one-off ES late in the year; if you have a big income event in Q1 you can always estimate and plan quarterly ES anyway, there is no need to pay all the tax in Q1 for it. If you have a big jump in income such that 100/110% prior year tax is the lower safe harbor then take advantage of that rule. You will have a known, fixed quarterly ES payment (assuming you meet any planned withholding for the year) and it won't matter the timing of your unpredictable income or how much it is. There is no "appearance" of underpayment, it you meet the requirements of Form 2210 you will not have a penalty. Hence the term "safe harbor". You still need to have a good estimate for 2026 and set aside what you owe in April 2027. As for the concern IRS may adjust your 2025 return to the extent you owe more tax resulting in a significant change of ES and penalty, that sounds like a very low risk (depending your situation). If it happens you would just need to catch up ES payments to the new level and may have some penalty for earlier quarters (e.g. if you find out beginning of June you owe $4000 more ES that's $1000 per quarter, you know it time to adjust for Q2 onwards, and you'd pay an extra $1000 right away to stop the penalty on Q1 - for about 2 months the penalty will only be $1000 * 0.07 * 2/12 =$12). If really concerned about this you could also overpay Q1 to create some contingency, if nothing changes any overpayment from earlier quarters carries forward to later quarters and you can pay less later, it's just lost interest for you. Unless you have something uncertain or questionable about your 2025 return I wouldn't worry about it. Personally I did AI method for 2024 due to Q4 Roth conversion, it was a huge pain and probably took as much time as my original return, then I had to do it for state also. To avoid this for 2025 I paid ES based on prior year and did the Roth conversion right away in Q1 as timing was not an issue - no AI method, no penalty. If you are using Desktop TT you can play around with 2025 s/w to mock up 2026 return (albeit with 2025 tax tables or deductions but will be in the ballpark) and plug in different income and ES payments and view Form 2210 in Forms mode to see there is no penalty regardless of how much income you make as long as you meet safe harbor based on prior year tax (use Other Tax Situations / Underpayment Penalties to set the prior year tax and AGI). Not a CPA but that's my understanding based on what you described, hope this helps.
17 hours ago
1 Cheer
From my post earlier in this thread: I navigated to the 1099-DIV panel and clicked edit. I did not change anything but that action allowed me to navigate to the panel where you enter the amounts ...
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From my post earlier in this thread: I navigated to the 1099-DIV panel and clicked edit. I did not change anything but that action allowed me to navigate to the panel where you enter the amounts for your state and for other states. I deleted both entries (i.e. the NC and Multiple States $s). I had to select the radio button designating all tax-exempt income being from one state and selected "Multiple States" as being that "one state". When I did that, the NC Refund amount at the top finally reset to represent all of these $s being from outside of NC (previously it treated those $s as all being from NC regardless of my actions). I navigated away from and then back to the same panel. This time I re-selected the radio button for dividends from more than one state and re-entered the same amounts that I had previously deleted. The NC refund amount updated again, this time FINALLY to the correct value.
17 hours ago
Yes, as a self-employed person, you can deduct your health insurance premiums. However, the deduction for your health insurance offsets other income, it does not reduce your business income and self...
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Yes, as a self-employed person, you can deduct your health insurance premiums. However, the deduction for your health insurance offsets other income, it does not reduce your business income and self-employment taxes.
This is actually a benefit for sole proprietors because otherwise deductible health insurance premiums must be claimed as a medical expense on Schedule A, Itemized Deductions, and it would be subject to other limitations as well.
To learn more, take a look at the following TurboTax help articles. The last article is especially important because where you enter the information in your return will depend on the type of health insurance plan you have:
Deducting Health Insurance Premiums If You're Self-Employed
Form 7206: Self-Employed Health Insurance Deduction
Where do I enter my health insurance premiums if I'm self-employed?
17 hours ago
1 Cheer
@NCperson Yes, you are correct, the scholarship must be unrestricted (or at least enough of it to cover the tuition allocated to the AOTC). My standard post (see below) on that subject covers that ...
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@NCperson Yes, you are correct, the scholarship must be unrestricted (or at least enough of it to cover the tuition allocated to the AOTC). My standard post (see below) on that subject covers that detail. That explanation is also included at the "five main points on the 1098-T" link.
In this case, the poster asked only a "how to" question rather that a "may I" question and the wording indicated she was familiar with my postings on the "loop hole" details. That said you're right, reminding them of that detail is probably appropriate.
_____________________________________________________________________________________________
There is a tax “loop hole” available to claim an education credit, for the parents of students on scholarship. The student reports all his scholarship, up to the amount needed to claim the American Opportunity Credit (AOC), as income on his return. That way, the parents (or himself, if he is not a dependent) can claim the tuition credit on their return. They can do this because that much tuition was no longer paid by "tax free" scholarship. You cannot do this if the conditions of the grant are that it be used to pay for qualified expenses.
Using an example: Student has $10,000 in box 5 of the 1098-T and $8000 in box 1. At first glance he/she has $2000 of taxable income and nobody can claim the American opportunity credit. But if she reports $6000 as income on her return, the parents can claim $4000 of qualified expenses on their return.
Books and computers are also qualifying expenses for the AOC. So, extending the example, the student had another $1000 in expenses for those course materials, paid out of pocket. She would only need to report $5000 of taxable scholarship income, instead of $6000.
The IRS actually encourages use of this technique. From the form 1040 instructions: “You may be able to increase an education credit if the student chooses to include all or part of a Pell grant or certain other scholarships or fellowships in income. For more information, see Pub. 970, the instructions for Form 1040 and IRS.gov/EdCredit". PUB 970 even has examples of how to do the “loop hole”.
17 hours ago
The 1098-T is the main document used to report qualified expenses. You can prepare a Form 8863 with TurboTax even if you did not receive a 1098-T.
TurboTax will generate the form based on your ...
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The 1098-T is the main document used to report qualified expenses. You can prepare a Form 8863 with TurboTax even if you did not receive a 1098-T.
TurboTax will generate the form based on your answers in the "Education" interview section, allowing you to manually enter tuition and expenses.
To enter or correct a Form 1098-T, you can follow these steps
Select Tax Tools from the left sidebar.
On the drop-down select Tools
There will be 2 green boxes
Select Topics Search
Type 1098-T
Continue through the interview or post your corrections
When asked, "Did you receive a 1098-T?", Answer No.
You may be asked if you qualify for an exception (e.g., the school was not required to send one, or you didn't receive it).
Follow the interview to enter your educational expenses based on your own records.
Report any scholarships or grants received.
17 hours ago
@onthehill1 If the 1099-R is form your pension that you receive monthly....then the RMD is whatever is in box 1 of that 1099-R form. _______________ You only need to calculate, to make sure yo...
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@onthehill1 If the 1099-R is form your pension that you receive monthly....then the RMD is whatever is in box 1 of that 1099-R form. _______________ You only need to calculate, to make sure you take an RMD each year, is for retirement accounts that you have control over deciding when, and how much $$ to take out each year. Like traditional IRAs, or 401k/TSP accounts. Those you do have control over how much you remove each year.
17 hours ago
You can report sublet income through the Schedule E Rental Income and Expenses section of TurboTax. You just need to be sure to skip any questions regarding depreciation of the property itself since...
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You can report sublet income through the Schedule E Rental Income and Expenses section of TurboTax. You just need to be sure to skip any questions regarding depreciation of the property itself since you do not own it. Your income and expenses will be reported the same way as any other rental property.
As you go through the initial questions to set up the rental property, make the selection that says you are not a 100% owner. Then, you will be asked about allocating expenses since you are not a 100% owner. Check the option that says you will calculate your own allocation of expenses. Then you will not be asked to enter your percentage of ownership.
Since you do not own the property, pay close attention to the questions as you go through them. There may be one that comes up later asking how you acquired the property where you can select 'other' instead of 'purchase' or the other choices offered. Also, be sure to skip entering anything such as the cost of the property to avoid having depreciation included.
17 hours ago
1 Cheer
Yes, that's possible. You can view/print/download a choice of PDFs. To get the larger PDF with the worksheets you have to open your return back up and go to the Print Center as I'll explain in det...
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Yes, that's possible. You can view/print/download a choice of PDFs. To get the larger PDF with the worksheets you have to open your return back up and go to the Print Center as I'll explain in detail below. NOTE: When you open your return back up, do not make any changes in it since it's already been filed. If you later have to amend the return, it has to start off exactly as it was when it was originally filed. Log in and at the Tax Home or in the section "Your Tax Returns & Documents" for 2025, look for a link "Add a State." Click on "Add a State." (you don't really add one. That's just to open your return back up.) After the return interview is open, click in the left menu column on the tab TAX TOOLS, then PRINT CENTER. Then choose "Print, save, view this year's return." The next screen should ask what you want in your PDF: Federal. state, or both (I always save both--just in case) and offer some options: "Just my tax returns", or "include government worksheets (optional)", or "include government and TurboTax worksheets (optional.)" The latter has the most pages. NOTE: Remember all PDF tax documents and tax data files are very sensitive files, since they contain your personal ID info, financial data, and possibly bank account numbers, etc. Be sure to store them safely and securely to guard against computer theft, hacking, etc.