All Posts

The TurboTax Free online edition is for very simple tax returns that do not require any other form or schedule other than the Form 1040.  If your tax data requires entry on any other form or schedule then you must upgrade to the Deluxe edition or higher.   If you have not paid for the online edition you are using, have not filed your tax return or registered the Free edition, then you can clear your return and start over with a lower priced edition. Click on Switch Products on the lower left side of the program screen while working on the 2025 online tax return. Click on Clear & Start Over   Go to this TurboTax website for the Free online edition - https://turbotax.intuit.com/personal-taxes/online/free-edition.jsp   Please Note - TurboTax Online: Important Details about Filing Form 1040 Returns with Limited Credits A Form 1040 return with limited credits is one that's filed using IRS Form 1040 only (with the exception of the specific covered situations described below). Roughly 37% of taxpayers are eligible. If you have a Form 1040 return and are claiming limited credits only, you can file for free yourself with TurboTax Free Edition or TurboTax Live Assisted Basic (if available), or you can file with TurboTax Full Service at the listed price. Situations covered (assuming no added tax complexity): W-2 income Interest or dividends (1099-INT/1099-DIV) that don’t require filing a Schedule B IRS standard deduction Earned Income Tax Credit (EITC) Child Tax Credit (CTC) Student loan interest deduction Situations not covered: Itemized deductions claimed on Schedule A Unemployment income reported on a 1099-G Business or 1099-NEC income Stock sales (including crypto investments) Rental property income Credits, deductions and income reported on other forms or schedules

The Form 5695 for Home Energy Credits is available when using the TurboTax online editions.  If you are currently signed onto the online account, sign off and then sign on again.   The Form 5695 has not yet been finalized for the TurboTax desktop editions.  It may be available sometime next week.

@bobbiebartz  The Form 5695 for Home Energy Credits is available when using the TurboTax online editions.  If you are currently signed onto the online account, sign off and then sign on again.   The Form 5695 has not yet been finalized for the TurboTax desktop editions.  It may be available sometime next week.

The simple purchase of cryptocurrency in 2025 is likely not a taxable event.  The TurboTax Cryptocurrency Guide states:   If merely bought and held, it’s not taxed until something is done with it, such as disposal.   Depending on the situation, cryptocurrency is taxed as:   Ordinary income, if for example, it earns a return for the holder from an income stream (rewards), or A capital gain or loss from a sale of property after its value has increased or decreased. A capital gain or loss will result from the disposal of cryptocurrency:   As payment for goods or services received, In exchange for cash, or  In exchange for a different cryptocurrency. This tax year introduces a new IRS tax form 1099-DA Digital Asset Proceeds From Broker Transactions.  IRS Form 1099-DA will be used by brokers to report proceeds from (and in some cases, basis for) digital asset dispositions to you and the IRS. Enter staking rewards in TurboTax as other income.   Follow these steps to enter in TurboTax Online:   Down the left side of the screen, click Federal. Down the left side of the screen, click Wages & Income. Click the down arrow to the right of Other Common Income. Click to the right of Form 1099-MISC. At the screen Let's enter the income, enter the information from the form. At the screen Describe the reason, enter 'staking rewards'.  Click Continue. At the screen Do one of these uncommon situations apply, select None of these apply.  Click Continue. At the screen Did the staking rewards involve work that's like your main job?, select No.  Click Continue. At the screen How often did you get income for staking rewards?, select the answer.  Click Continue. At the screen Did the staking rewards involve an intent to earn money?, select No.  Click Continue. The entries will be reported:   on line 8z of Schedule 1 of the Federal 1040 tax return, and  on line 8 of the Federal 1040 tax return. The IRS has ruled that staking rewards only become taxable once the taxpayer "acquires the ability to transfer, sell, exchange, or otherwise dispose of the cryptocurrency."  You will need to convert your rewards to US dollars if they have not been issued in U.S. dollars.  

Provided you haven't filed your return,  you can change your dependents information in Personal Info.   On the center menu select Personal Info and Click Review Edit. Your information, and your families will be displayed. To change Your Personal information: Click the arrow on the right. Then select [Revisit]. To correct a spouse or child: Select [Review]. Go through the interview to make any changes. To [Add another dependent] click the box by the same name.  

I received an email saying the form was ready but the section in the software still says "Not Available" and yes, I've updated the applications and it's "up to date". Does anyone else have this problem?

You must first wait for the IRS to accept or reject your tax return.  The IRS will start to process 2025 tax returns on January 26, 2026.   If your return is rejected, you can go directly back in and make changes.  If it is accepted, follow these steps: On the Tax Home screen,  Scroll down to Your tax returns & documents and  Select the Amend (change) return dropdown,  Then Amend using TurboTax Online. (If you're told to amend your return via TurboTax Desktop, follow the steps for TurboTax Desktop instead.) Continue through the screens, make the changes you need to make, and carefully answer the remaining questions to finish amending your return. Amend current taxes 2025  How do I amend my federal tax return for a prior year?