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yesterday
There is no hardship exception to paying your taxes, but you can request an installment plan. When you get to the file section of TT, you will be given the option to include a request, to the IRS, f...
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There is no hardship exception to paying your taxes, but you can request an installment plan. When you get to the file section of TT, you will be given the option to include a request, to the IRS, for an installment plan. You don't have to pay until the IRS processes you request (the request is another IRS form that is filed with your return)
yesterday
If you are married, you can file jointly with your spouse, even if you don't have her 2024 tax return.
On your 2025 tax return, you report both of your incomes.
In almost all situations, ...
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If you are married, you can file jointly with your spouse, even if you don't have her 2024 tax return.
On your 2025 tax return, you report both of your incomes.
In almost all situations, it is more beneficial to file Married Filing Jointly than Married Filing Separately.
Please read this TurboTax Help topic for more information.
yesterday
Need to speak with Tracey [removed] your tax expert.
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yesterday
You answered correctly to the 2 questions.
However, if the distribution reported on form 1099-Q is fully justified by qualified education expenses (including room and board), you do not need to...
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You answered correctly to the 2 questions.
However, if the distribution reported on form 1099-Q is fully justified by qualified education expenses (including room and board), you do not need to to enter form 1099-Q on your tax return. Just keep that form in your tax records along with proof of education expenses.
In your case, you can safely delete that form 1099-Q from your tax return.
Please read this TurboTax article for more information.
yesterday
That box only gets checked if the dependent is 19 to 23 years old. TT will only present you that question based on the birthdate you enter.
There are two types of dependents, "Qualifying Childr...
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That box only gets checked if the dependent is 19 to 23 years old. TT will only present you that question based on the birthdate you enter.
There are two types of dependents, "Qualifying Children"(QC) and Other ("Qualifying Relative" in IRS parlance even though they don't have to actually be related). There is no income limit for a QC but there is an age limit, student status, a relationship test and residence test.
A child of a taxpayer can still be a “Qualifying Child” (QC) dependent, regardless of his/her income, if:
He is under age 19, or under 24 if a full time student for at least 5 months of the year, or is totally & permanently disabled
He did not provide more than 1/2 his own support. Scholarships are excluded from the support calculation
He lived with the parent (including temporary absences such as away at school) for more than half the year
yesterday
I assume TurboTax is trying to authenticate my wife and I but cannot find that we paid taxes in Guam.
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I am a bit confused by the wording regarding the Neighborhood Assistance Act tax credit. Is this credit only for the professions listed in Turbo Tax (vets, doctors, etc.). I donated money to a 501(...
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I am a bit confused by the wording regarding the Neighborhood Assistance Act tax credit. Is this credit only for the professions listed in Turbo Tax (vets, doctors, etc.). I donated money to a 501(c)(3) charity that provides money for low-income individuals to play community sports. Does this count? Does the charity need to have filed any other additional paperwork?
yesterday
Box 5 line A where?
What's in boxes 1 and 5 on the 1098-T?
Does box 5 include any of the employer reimbursement. Some schools include, some don't.
How much was the employer reimbursement? How ...
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Box 5 line A where?
What's in boxes 1 and 5 on the 1098-T?
Does box 5 include any of the employer reimbursement. Some schools include, some don't.
How much was the employer reimbursement? How much was included on the W-2
By law your employer can only give you $5250 maximum, tax free. If your tuition was less than that, and you employer reimbursed it all; it’s safe to assume it does not need to be reported. You do not even need to enter your 1098-T. You have nothing to claim.
If you got more than $5250, the amount above $5250 is usually already included in box 1 of your w-2 and you do not need to enter any additional income on your tax return.
But, since you have paid tax on that part, it is considered your after tax money and that amount can be used to claim the tuition credit. For tax purposes, it’s not really reimbursement, it’s your money.
In the TT interview, when asked how much employer reimbursement you got, yo usually enter only the tax free part (usually $5250). But, you may also need to adjust box 5 of the 1098-T, when you enter it.
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Hello, I am dual citizen of US and my current foreign country of residence. The money I withdraw from my US based IRA or 401K is considered US source income from US point of view, even if I currentl...
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Hello, I am dual citizen of US and my current foreign country of residence. The money I withdraw from my US based IRA or 401K is considered US source income from US point of view, even if I currently live abroad correct? So i cannot deduct any tax I pay to the foreign country for this, from my US tax yes (such as by form 1116)? The foreign country I am at, is saying they have the right to tax this, but even if they do they need to allow what I paid to the US to be deducted from what I owe to them right? Otherwise it will be double taxation for me, since US is already considering it is US source (I couldn't even use Form 1116 to deduct what i pay here from US tax) or may be I CAN deduct it from US by using another US form (consdiering international stuff treaties etc)?
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yesterday
Your employer has options. So you need to find out what it's going to do. Some would leave you short in NY withholding.
yesterday
Thanks again for the reply CesarJ, so ill be using the link, for Philadelphia local tax return as a non-resident worker, and not the turbo tax online anymore..
yesterday
The IRS has some safe harbor rules. Meet any one of them, and there will be no federal underestimation of tax penalties.
There will be no 2026 federal penalties for not prepaying enough taxes durin...
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The IRS has some safe harbor rules. Meet any one of them, and there will be no federal underestimation of tax penalties.
There will be no 2026 federal penalties for not prepaying enough taxes during the year if withholding and
timely estimated tax payments equal or exceed 90% of your 2026 tax or
timely estimated tax payments equal or exceed 100% of your 2025 tax (110% if your 2025 adjusted gross income was more than $150K) or
the balance due after subtracting taxes withheld from 90% of your 2026 tax is less than $1,000 or
your total taxes are less than $1,000
The second one is the easiest to meet because if you complete your 2025 taxes by around the end of March,
you'll know what must be paid in - 1/4 of the required amount each period, which generally have due dates of 4/15, 6/15,9/15 and 1/15 of the following year. If you have any control over your withholding, you may be able to increase it later in the year to make up for any deficiency. The IRS rules state that you can deem 1/4 of your annual withholding to be withheld each period. However, estimated tax payments only count for that period if paid on or before the due date.
state laws differ
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yesterday
Hi everyone, seeking for tax advice. I recently received two W-2s (one for CA and one for NY), but in reality I should only receive a NY W-2. The CA represents one of the months only, the rest of the...
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Hi everyone, seeking for tax advice. I recently received two W-2s (one for CA and one for NY), but in reality I should only receive a NY W-2. The CA represents one of the months only, the rest of the months in the year are part of my NY W-2. My employer made a mistake thinking I still had my address in CA, but I was already in NY that month. I have requested for a new W-2 where it's just new york. When I checked my CA W-2, my state income tax was barely anything. And my NY w-2 also had the entire amount I've earned for the year. I'm assuming this means that I was taxed both for CA and NY at that time. Now that the tax payment deadline is approaching, I'm wondering if there's any tax payments I need to make. From my understanding, since NY taxes were already paid for that one month I received a CA W-2, then I should not need to pay any taxes but I'd like to make sure.
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yesterday
@ ttmoe421 wrote: "How do I find PIN number in..." Your question was cut short, so we don't know all the info. What kind of PIN? There are at least 2 different kinds. When signing your re...
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@ ttmoe421 wrote: "How do I find PIN number in..." Your question was cut short, so we don't know all the info. What kind of PIN? There are at least 2 different kinds. When signing your return in the FILE section, you will be asked to enter a signing PIN, which is a 5-digit PIN where you select any 5 digits (except can't be all zeros.) That PIN is entered on a screen with today's date and your birth date. Or are you asking about an IP PIN (Identity Protection PIN), which is a 6-digit PIN provided by the IRS to victims of ID theft, or to those who elect to opt-in to the IP PIN program? If you are asking about how to enter an IP PIN, here's where to enter that 6-digit PIN: Federal > Other Tax Situations > Other Return Info > Identity Protection PIN Or are you asking how to retrieve a 6-digit IP PIN from the IRS website? NOTE: If you are referring to a 6-digit IP PIN, be sure you have your new one for 2026 that you are to use this calendar year. The old one from 2025 won't work. We may have additional comment, but we don't yet know which type of PIN you are referring to.