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7 hours ago
This error can come from from a worksheet that is missing. Review the asset inside the interview to be sure the program is handling it correctly. If the program persists, delete the AMT form to clea...
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This error can come from from a worksheet that is missing. Review the asset inside the interview to be sure the program is handling it correctly. If the program persists, delete the AMT form to clear the issue and reset it.
Online:
In the left-hand menu, click Tax Tools > Tools.
Select Delete a form.
Look for Schedule C AMT Worksheet or any Form 6251 (AMT) associated with your business.
Desktop: switch to Forms mode and delete
Once deleted, log out to let the system clear out. Then open program again.
If you need extra time, filing an extension by April 15, 2026, moves your submission deadline to October 15. But remember any taxes owed are still due in full by the original April 15 date. Pay through either Direct Pay or your individual online account
7 hours ago
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7 hours ago
There are some workarounds on this thread: Enrollment status must be entered I hope it helps!
7 hours ago
Google seems to think that if I e-file, I don't have to mail anything in.
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7 hours ago
You can deduct gambling losses but only to the extent of your gambling winnings. You can't deduct the losses without reporting any winnings and you have to itemize your deductions on Schedule A. If y...
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You can deduct gambling losses but only to the extent of your gambling winnings. You can't deduct the losses without reporting any winnings and you have to itemize your deductions on Schedule A. If you don't have enough Itemized deductions, you won't be able to deduct your losses.
Refer to the TurboTax article Can You Claim Gambling Losses on Your Taxes?
7 hours ago
It depends. Entering both the positive amount and the negative treaty adjustment in "Other Reportable Income" will generally net them to zero on Schedule 1, line 8z. While line 8r is specifically for...
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It depends. Entering both the positive amount and the negative treaty adjustment in "Other Reportable Income" will generally net them to zero on Schedule 1, line 8z. While line 8r is specifically for scholarships, using the "Other Reportable Income" section is the standard method for manually handling treaty-exempt income.
You are correct. You do not need to report 8833 because you do qualify for an exception, being a student that has either a taxable scholarship or grant.
7 hours ago
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7 hours ago
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7 hours ago
Q. AOC credit prompted again.... but does student actually qualify?
A. Yes, she qualifies for some AOC*, if you don't claim her, but not the full $2500 and most likely none of the refundable porti...
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Q. AOC credit prompted again.... but does student actually qualify?
A. Yes, she qualifies for some AOC*, if you don't claim her, but not the full $2500 and most likely none of the refundable portion. Earned income of $24,310 would get her enough to wipe out her tax liability (I quick estimate about $850)
Q. Last year, turbo tax also prompted the credit but it wasn't taken bc I thought I entered something wrong to prompt this. This year, again Turbo tax prompted the credit ( a good refund). Have I answered something wrong?
A. Probably. Most likely the question, did her earned income provide more than half her support.
The $32,200 from the 529 plan is considered parental support, since the parent is the owner of the plan. Since that, alone, is more than $24,310, she couldn't have provided more than half her support with her earned income. I assume she is under 24.
*Technically there is a provision that allows your student-dependent to claim a federal tuition credit. From a practical matter it seldom works out. A full time student, under age 24, is only eligible for the refundable portion of the American Opportunity Credit (AOTC) if he/she supports himself by working. She cannot be supporting herself on student loans & grants and 529 plans and parental support. It is usually best if the parent claims that credit. If the student actually has a tax liability, there is a provision to allow him to claim a non-refundable tuition credit. But then the parent must forgo claiming the student as a dependent, and the $500 other dependent credit. The student must still indicate that he can be claimed as a dependent, on his return. This is worth up to $2500 (AOTC shifts to all non refundable)
7 hours ago
Sorry wrong post.
7 hours ago
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7 hours ago
I want to cancel all info I entered for this years taxes. Cannot afford to pay.
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7 hours ago
S-Corp had 0 revenue, but incurred basic expenses such as maintaining insurance and payroll software, showing a small loss. To my knowledge I submitted a correct 1120S to the IRS and completed Schedul...
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S-Corp had 0 revenue, but incurred basic expenses such as maintaining insurance and payroll software, showing a small loss. To my knowledge I submitted a correct 1120S to the IRS and completed Schedule K-1 based on that info, but Turbotax won't accept a negative number from K-1 on Line 3A of Form 7203. It's showing error message: "Line 3a shouldn't be less than zero."
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7 hours ago
No. Loans from a 401(k) account are not reported on a tax return.
7 hours ago
I don't have that information, but PNC Bank and other institutions could be experiencing higher online traffic today, as is TurboTax. If you are waiting to file your individual return because you...
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I don't have that information, but PNC Bank and other institutions could be experiencing higher online traffic today, as is TurboTax. If you are waiting to file your individual return because you need information from other institutions, filing an extension by April 15, 2026, moves your submission deadline to October 15. But remember any taxes owed are still due in full by the original April 15 date. You can include a payment with the extension of any estimated amount due.
7 hours ago
To enter the W-2G or other documents For your Gambling winnings--Go to Federal>Wages & Income>Less Common Income>Gambling Winnings
You can enter your winnings, and then keep clicking through the i...
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To enter the W-2G or other documents For your Gambling winnings--Go to Federal>Wages & Income>Less Common Income>Gambling Winnings
You can enter your winnings, and then keep clicking through the interview to enter gambling losses.
https://www.irs.gov/help/ita/how-do-i-claim-my-gambling-winnings-and-or-losses
Gambling winnings are taxable income. Losses are an itemized deduction. If you do not have enough itemized deductions to exceed your standard deduction, your losses will have no effect.
https://blog.turbotax.intuit.com/income-and-investments/how-are-gambling-winnings-taxed-8891/
2025 STANDARD DEDUCTION AMOUNTS
SINGLE $15,750 (65 or older/legally blind + $2000)
MARRIED FILING SEPARATELY $15,750 (65 or older/legally blind +1600)
MARRIED FILING JOINTLY $31,500 (65 or older/legally blind + $1600)
HEAD OF HOUSEHOLD $23,625 (65 or older/legally blind + $2000)
7 hours ago
Hi there! You can try reserving some time through the app but in case time runs out, here's how you can file an extension: How do I file an IRS tax extension?
7 hours ago
TurboTax Online will use the simplified method to determine the taxable portion for box 2a of your CSF 1099-R. Presume that:
Monthly payments were received,
Payments started in 2025, a...
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TurboTax Online will use the simplified method to determine the taxable portion for box 2a of your CSF 1099-R. Presume that:
Monthly payments were received,
Payments started in 2025, and
That box 7 is code 7.
You will need to know:
The amount of the employee contributions (should be in box 9b),
The date the annuity started,
The number of months that payments were received in 2025,
The age of the recipient when the annuity started,
The age of other beneficiaries (if there are any), and
Was the recipient under the retirement age for the plan.
Follow these steps:
Down the left side of the screen, click Federal.
Down the left side of the screen, click Wages & Income.
Click on the down arrow to the right of Retirement Plans and Social Security.
Click to the right of IRA 401(k) Pension Plan Withdrawal (1099-R).
At the screen Who gave you a 1099-R, select Office of Personnel Management (CSF 1099-R).
At the screen Annuity information, select Yes for the question Did you start getting payments in 2025.
At the screen Annuity information, select No for the question For the years you received these distributions, was the total amount shown in the form the amount you paid tax on?
At the screen Annuity information, enter the annuity start date, plan cost, months payments were received and amount recovered in previous years. (This will be $0 if this is the first year that you receive the payment.)
At the screen Annuity Information, Plan Cost should be in box 9b.
At the screen Annuity Information, enter the beneficiary ages.
The taxable amount will be computed by the simplified method.
View Federal 1040 tax return line 5a and 5b at Tax Tools / Tools / View Tax Summary / Preview my 1040.
7 hours ago
Tennessee does not have a state income tax, that is why there is no option to amend that return, as it was not filed in the first place.