All Posts

Why did I bother subscribing to annual purchasing and early release of turbo tax?  It is of no value for my home and business tax preparation without being able to enter my self employment section.  I absolutely need to know the extrapolated tax scenarios for possible 401k contributions and their effect on QBI, taxable income, etc. and what I can afford to take as income (roth conversions) before crossing thresholds for IRMAA for example.  This all has to be done by Dec. 31st.  

If you were only an HSA-eligible individual for January and February, your HSA contributions for the year are limited to 2/12 of the regular annual limit for the type of HDHP coverage that you have, self-only or family.  Since you are over age 55, this would make your contribution limit for 2025 be $833.33 if you have self-only coverage or $1,591.67 if you have family coverage.  TurboTax will automatically calculate your maximum permissible contribution when you indicate the type of coverage that you had for each month.  (You would indicate Medicare coverage for March through December)   Contributions beyond that amount are subject to a 6% excess contribution penalty each year that the excess remains in the account.  To avoid the penalty you must request an explicit return of excess contribution (not an ordinary distribution) by the due date of your tax return for the year, including extensions.

Did you e-file your tax return and was it accepted? Only the IRS and your State control when and if a Federal or State tax refund is Approved and Issued.   You complete your tax return by finishing all 3 Steps in the File section. In Step 3, to e-file your tax return, you must click on the large button labeled "Transmit my returns now".   After completing the File section and e-filing your tax return you will receive two emails from TurboTax. The first email when your tax return was transmitted and the second email when the tax return has either been accepted or rejected.   Note - Once a tax return has been Accepted by the IRS or a State, TurboTax receives no further information concerning the tax return or the status of any tax refund.  Only the taxpayer listed on the tax return can obtain the status of a tax refund or a tax return.   To check the status of an e-filed return, open up your desktop product or log into your TurboTax Online Account. You can find your status within the TurboTax product. If accepted by the IRS use the federal tax refund website to check the refund status - https://www.irs.gov/refunds If accepted by the state use this TurboTax support FAQ to check the state tax refund status - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_...   After the tax return has been Accepted by the IRS (meaning only that they received the return) it will be in the Processing mode until the tax refund has been Approved and then an Issue Date will be available on the IRS website.   Call the IRS: 1-800-829-1040 hours 7 AM - 7 PM local time Monday-Friday

Not sure what $2000 payment you are expecting---if you are referring to a $2000 "tariff check"--so far that is nothing but political huffing and puffing.   You enter banking information for your direct deposit when you are in the FILE section of your 2025 tax return.   The online software is not yet available for 2025 returns; it will be available in early to mid-December.

Go to this website for the TurboTax Flex Loan - https://turbotax.intuit.com/personal-loan/   TurboTax support FAQ for the Flex Advance Loan - https://ttlc.intuit.com/turbotax-support/en-us/help-article/loans/whats-turbotax-flex-advance/L2Xg6I...

Sorry---it is too late to import data from a broker for 2024.   It is no longer available for import into tax software.   You waited too long.   In late January/February they will have 2025 data available for import into tax software.   You will need to get the 2024 information from the broker's site and key it in by hand, even if you can only enter summary information.

This isn’t something you’re missing — it’s a display bug in the latest 2025 Tax Calculator update. IRA withdrawals and Social Security income are being calculated in the backend but not shown in the “What you told us” section. Investment income displays correctly, which is why it looks inconsistent. Nothing in your inputs is wrong — the UI just isn’t reflecting those two fields. The product team needs to patch the summary panel for 2025 data. Until then, your refund/owed estimate is still accurate.    

Apply for a Flex Loan https://turbotax.intuit.com/personal-loan What is the Turbo Tax Flex Advance? https://ttlc.intuit.com/turbotax-support/en-us/help-article/loans/whats-turbotax-flex-advance/L2Xg6In6b_US_en_US?uid=mhz8qpz8

Did they change your return or they didn't get your tax due payment?    Check your 540 line 111 to see if you had a tax due.   Your only proof of payment is your bank statement or credit card showing the payment coming out. Turbo Tax only passes your bank account number to the state for the state to take it out of your account. But most states do not let you pay by Direct Debit so you have to mail in a check or go directly to the state's website to pay. And better double check your bank account and routing number with your bank. Some banks use a different routing number for deposits and payments.   Check the printout or PDF of your return; look for the state cover sheet with the Turbo Tax logo. If you owed tax, it will show the payment information and how/when you decided to pay. Read the state payment instructions carefully since most states cannot be paid from within the TT system and requires additional steps.