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Friday
Additionally, it may SEEM like you paid twice, but didn't.
For example, if you exercised 10,000 in Stock and had 2,000 withheld for taxes, the income is still 10,000, not the 8,000 you received. ...
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Additionally, it may SEEM like you paid twice, but didn't.
For example, if you exercised 10,000 in Stock and had 2,000 withheld for taxes, the income is still 10,000, not the 8,000 you received.
You will still be liable for Federal Income Tax due on the full 10,000.
(It's as if they gave you 10,000 and you turned around and gave them 2,000 to pay federal tax in your name)
The tax withheld should have been listed on your W-2 or another tax form.
That should have been entered on your tax return to get the credit for tax paid.
Please review and speak with your employer's payroll department if you are unsure of how the tax was withheld and reported on your original return.
If you need to file an amended return, here is a link with the steps to do that in TurboTax.
Friday
If you do not receive a 1099k for income your business earned, you will report the income as "Other self-employed income" under your business profile.
You will get a page that says: "Let's ente...
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If you do not receive a 1099k for income your business earned, you will report the income as "Other self-employed income" under your business profile.
You will get a page that says: "Let's enter the income for your work". Under Common income you have three options: 1099-NEC, 1099-K, and Other self-employed income.
Select Other self-employed income and enter it there.
Friday
If, indeed, the activity is a hobby, and you have no other Schedule C-type business, then you don't need Hone& Business. You would report your hobby income as such (on Schedule 1) and cannot ded...
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If, indeed, the activity is a hobby, and you have no other Schedule C-type business, then you don't need Hone& Business. You would report your hobby income as such (on Schedule 1) and cannot deduct expenses since they would be considered to be miscellaneous itemized deductions which can no longer be deducted.
Friday
You can't deduct any of the start up expenses until the year you are in business, which usually means generating sales. So if you were not in business in 2025, you will get no benefit from them on yo...
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You can't deduct any of the start up expenses until the year you are in business, which usually means generating sales. So if you were not in business in 2025, you will get no benefit from them on your 2025 tax return. The children would normally be claimed by the parent they live with, but if they live with you, you can give the children's other parent permission to claim them, if they qualify otherwise.
You can complete Form 8332 to give the non-custodial parent permission to claim the children. Since you have no income, it will not benefit you to claim them on your tax return.
Friday
The Form 1099-R section is estimated to be finalized on 01/21/2026
Friday
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When you say, "owed tax", are you referring to the estate tax return (which I presume generated the 1099-R) or are you referring to your personal tax return in which you entered the 1099-R?
Friday
In order to determine whether you have a hobby or a business, you need to consider the factors the IRS uses: See https://www.irs.gov/faqs/small-business-self-employed-other-business/income-expens...
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In order to determine whether you have a hobby or a business, you need to consider the factors the IRS uses: See https://www.irs.gov/faqs/small-business-self-employed-other-business/income-expenses/income-expenses
Friday
i.e. the extra $6000 shows up on a different line (line 13b) of your form 1040 from the regular Sr. Std Deduction (line 12e)
Friday
@kcsomisetty wrote:
i also wanted to buy advantage, but since retailers dont bundle 'advantage', i am forced to buy from TT website :(
You can sign up for an Advantage subscription at an...
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@kcsomisetty wrote:
i also wanted to buy advantage, but since retailers dont bundle 'advantage', i am forced to buy from TT website :(
You can sign up for an Advantage subscription at any time before November 2026. So purchase the 2025 desktop software from whichever retailor you wish.
See this TurboTax support FAQ for an Advantage subscription - https://turbotax.intuit.com/personal-taxes/cd-download/advantage/
Friday
I already reviewed my order and keeps looping around. Fixed my tax return many times, please help
Friday
@VolvoGirl wrote: It did another update today Jan 16. Don't know what it has. It's weird, but I'm betting there are bug fixes in there as well as scheduled updates. Since Intuit stopped iss...
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@VolvoGirl wrote: It did another update today Jan 16. Don't know what it has. It's weird, but I'm betting there are bug fixes in there as well as scheduled updates. Since Intuit stopped issuing release notes, I suppose we will never know.
Friday
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Friday
The IRS will begin accepting 2025 federal tax returns on 01/26/2026. Expect several days of waiting after the 26th since millions of tax returns will be processing on the IRS servers.
Friday
You will need to file a Part Year Resident return for Indiana since your wife did not live there the entire year. In the Personal Info section of TurboTax, you should have entered that your wife liv...
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You will need to file a Part Year Resident return for Indiana since your wife did not live there the entire year. In the Personal Info section of TurboTax, you should have entered that your wife lived in two different states in 2025. If you didn't, you should go back and enter that she did live in two different states. Once you do that, your Indiana state return should come up as recommended filing of a part year resident return. If not, you may need to delete your Indiana state return and start over. Also be sure to complete your Michigan return before working on your Indiana return and that you correctly allocate your income items to each state.
Friday
i also wanted to buy advantage, but since retailers dont bundle 'advantage', i am forced to buy from TT website :(
Friday
If you changed your permanent address, you are a part-year resident in each state, and you need to file a part-year resident return. Generally speaking, state A will charge income tax on income that...
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If you changed your permanent address, you are a part-year resident in each state, and you need to file a part-year resident return. Generally speaking, state A will charge income tax on income that was paid while you were living in state A, and state B will charge tax on income paid while living in state B. If your SS benefit is your only income after you moved to state B, you probably don't have to file a return in state B. But you might want to file to establish your change of residency, or there might be other benefits to filing even if you don't owe.
Also note that when preparing your state A return, your income will flow from the federal return which lists all your income. You will have to manually tell turbotax how much of your total income should be assigned to state A.