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11 hours ago
When I enter the old on Treasury obligations the total shows zero. Do I have to enter the same amount in the original discount box?
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11 hours ago
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11 hours ago
You can use the code for "Other" for box 14 when you enter the amounts in TurboTax. The numbers in box 14 do not normally affect your tax directly, they are more for information purposes. You can che...
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You can use the code for "Other" for box 14 when you enter the amounts in TurboTax. The numbers in box 14 do not normally affect your tax directly, they are more for information purposes. You can check with your employer to find out what is being reported there though as it may affect other entries you make in TurboTax.
11 hours ago
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11 hours ago
Looks to be fixed, I just downloaded the 3 Vanguard 1099s I have successfully.
11 hours ago
I'm assuming I need to show the checking and capital account balances at $0 - and that's the only way to do it.
11 hours ago
I use the debit card to pay for turbo tax services and fees. The card expired the end of February. How/where do I update it?
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11 hours ago
TurboTax can use the RMD from your to satisfy all of your RMDs. You will also be able to see the finished results, which I will explain below. And, no, you should not have to make any adjustments in ...
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TurboTax can use the RMD from your to satisfy all of your RMDs. You will also be able to see the finished results, which I will explain below. And, no, you should not have to make any adjustments in Forms Mode to make your Form 1099-R entries.
To report each of your Form 1099-R distributions for your annuities and IRA, including the RMDs as you have indicated for each, do the following:
Go to Wages & Income and enter the first annuity Form 1099-R (Gross distribution, etc.)
Next, when you reach, "Let's get more information about your RMD", enter the amount including the total toward the RMD amount (e.g. $5,000 from above), Continue
Next, select, The entire distribution applied to the December 31, 2025 RMD, Continue
Do this with each of your annuities
When entering your IRA, you would indicate that the $20,000 was the RMD, as well as the entire distribution.
Next, in the Review your 1099-R summary, Continue (not the pencil)
Continue answering the questions
Next, when you see "Let's go over any required minimum distributions (RMD), select Continue (not the pencil)
Note: If you are asked, "Did you miss an RMD?", select "No".
By entering each distribution above, you will satisfy the RMD for your IRA as well as your annuities.
To confirm the entries, go to Forms Mode and check your Form 1040, Line 4a and 4b. You should see a $39,000 in total distributions, which is more than your RMD.
11 hours ago
To enter estimated tax paid in 2025
Go to Federal>Deductions and Credits>Estimates and Other Taxes Paid>Estimates
11 hours ago
Yes, you may be able to claim the residential energy credit for it, but not on your 2025 return. You cannot deduct that on your 2025 return, assuming they were installed and operable in 2024.
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Yes, you may be able to claim the residential energy credit for it, but not on your 2025 return. You cannot deduct that on your 2025 return, assuming they were installed and operable in 2024.
The loan is not relevant to the credit. You would use the amount you were charged for the panels. So if you paid $40k for the panels, it does not matter whether it was paid with a loan or cash, the amount you can take a credit based off of is $40k. You cannot include financing fees in the calculations.
In order to claim the credit you would need to Amend Your Return for 2024.
The Residential Energy Credit is a non-refundable credit, however this one can be carried forward to future tax years until this credit goes away which is currently set to happen in 2034
This credit is worth up to 30% of the cost of the equipment, with no maximum limit. The items that fall into this category are as follows:
Geothermal Heat Pumps
Small Wind Turbines
Solar Energy Systems
Fuel Cells
Battery Storage Technology
This credit can be taken for new construction
To enter these credits into TurboTax take the following steps:
Federal
Deductions and Credits
I'll Choose what I work on
Home Energy Credits which is under the "Your Home" category
https://www.energystar.gov/about/federal_tax_credits
11 hours ago
Your total cost for the solar panels, including installation, should have be reported on your 2024 tax return. You do not report your loan payments as the total cost is credited.
You will have...
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Your total cost for the solar panels, including installation, should have be reported on your 2024 tax return. You do not report your loan payments as the total cost is credited.
You will have to amend the 2024 tax return you filed. The solar panel expense is in the Deductions and Credits section, under Your Home.
To enter Home Energy Credits -
Click on Federal Taxes (Personal using Home and Business) Click on Deductions and Credit Click on I'll choose what I work on (if shown) Under Your Home On Home Energy Credits, click the start or update button
See this TurboTax support FAQ for amending a prior year tax return - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/amend-change-correct-return-already-filed/L4VjJ9BA2_US_en_US?uid=ld1n99kr
11 hours ago
Do I go ahead and use the remaining $1,000 in the checking account as a 2025 distribution and distribute it now?
11 hours ago
This is the first year I am making this election. I am aware that comes with the 6013(g) election statement. I mentioned "it didn't seem like an issue last year" because users from the previous y...
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This is the first year I am making this election. I am aware that comes with the 6013(g) election statement. I mentioned "it didn't seem like an issue last year" because users from the previous year did not seem to run into the issue I am seeing right now.
11 hours ago
Yes, you can edit the Form 1099-C input directly by switching to Forms mode (upper right) in TurboTax Desktop, and selecting Form 1099-C in the Forms in My Return window; if you need to attach Form 9...
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Yes, you can edit the Form 1099-C input directly by switching to Forms mode (upper right) in TurboTax Desktop, and selecting Form 1099-C in the Forms in My Return window; if you need to attach Form 982, that is ready and available too.
In TurboTax Online, follow the instructions from the article, How do I enter a 1099-C?:
If your debt is canceled or forgiven, you'll receive Form 1099-C (Cancelation of Debt).
Note: If you received a 1099-C for your main home and another 1099-C for something else (like a credit card, car loan, or second mortgage) you won't be able to use TurboTax, as we don't support this.
To enter your 1099-C:
1. Go to the 1099-C screen under Wages & Income
In TurboTax Desktop:
Go to Federal Taxes.
Go to Wages & Income.
Go to Less Common Income and select 1099-C.
2. On the Tell us about your canceled debt screen, select the type of canceled debt (main home or other) and then select Continue.
3. Follow the onscreen instructions.
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Saturday
11 hours ago
Under Investments, if I choose to enter "Stocks, Bonds, Mutual Funds" it forces me to enter my Brokerage/Bank, which I don't have on the sale of privately held shares. I'm trying to create a "Long-te...
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Under Investments, if I choose to enter "Stocks, Bonds, Mutual Funds" it forces me to enter my Brokerage/Bank, which I don't have on the sale of privately held shares. I'm trying to create a "Long-term transaction not reported on Form 1099-B" (found on Form 8949)
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11 hours ago
If you did not file a 2024 return you do not have a 2024 AGI. Choose the answer that says you did not file a 2024 return or try using zero. If those remedies do not work then print, sign and mail ...
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If you did not file a 2024 return you do not have a 2024 AGI. Choose the answer that says you did not file a 2024 return or try using zero. If those remedies do not work then print, sign and mail your tax return.
11 hours ago
Yes, you can file the final return in 2025 if you close the business and have no income or expenses in 2026.
11 hours ago
Since she's caring for your child in your home, she's generally considered a household employee, not an independent contractor. That means the correct way to pay her is as an employee, not with a 109...
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Since she's caring for your child in your home, she's generally considered a household employee, not an independent contractor. That means the correct way to pay her is as an employee, not with a 1099.
Here's what that means:
Get an EIN (Employer Identification Number) from the IRS
Have her complete a Form W-4
If you pay her $3000 or more in 2026, you must:
Withold and pay Social Security and Medicare taxes
Provide her a W-2 at year end
File Schedule H with your tax return
If you pay her below the annual threshold, you generally don't owe the Social Security and Medicare Taxes, but you should still keep records of your payments, especially if you want to claim the Child and Dependent Care Credit.
If you want to learn more about the Household Employment rules, see this link.
11 hours ago
My daughter is having the same problem with Turbotax Online. This makes a material difference in her return. With a scholarship covering the expenses in the 1098T, the 529 distribution used to cover ...
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My daughter is having the same problem with Turbotax Online. This makes a material difference in her return. With a scholarship covering the expenses in the 1098T, the 529 distribution used to cover qualified board expenses (not covered in the 1098T) looks like a taxable distribution. We need to be able to enter the expense to ensure that is not taxed. This needs to be fixed (and the workaround does NOT work in the online version).
11 hours ago
Siempre y cuando NO hayas envíado tu declaración puedes hacer cualquier corrección sin problemas.
Puedes agregar un W-2 en TurboTax siguiendo estos pasos:
Entra en tu cuenta de Tur...
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Siempre y cuando NO hayas envíado tu declaración puedes hacer cualquier corrección sin problemas.
Puedes agregar un W-2 en TurboTax siguiendo estos pasos:
Entra en tu cuenta de TurboTax.
Dirígete a la sección de "Salarios e ingresos" (Wages and Income).
Entre tus formularios W-2, selecciona “añadir nuevo W-2” (Add new W-2).
Elige “Escribirlo yo mismo” (Type myself).
Recuerda, después de envíar una declaración, ya no puedes cancelarla. Debes esperar que el IRS la acepte o la rechace.
En caso de que el IRS la acepte, entonces procedes a hacer la enmienda.
Solo podrás hacer los cambios necesarios si el IRS rechaza tu declaración.
Si necesitas asistencia de uno de nuestros expertos, haz click al siguiente enlace:
TurboTax contacto