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Enter your pension income shown on Form 1099-R in the Federal section of TurboTax. See this help article.    Then, when you complete your Colorado return, you will be presented with questions abo... See more...
Enter your pension income shown on Form 1099-R in the Federal section of TurboTax. See this help article.    Then, when you complete your Colorado return, you will be presented with questions about income items that are treated differently for Colorado. TurboTax will calculate any Subtractions from Income for Colorado based on your entries and answers to the questions.   Individuals may be allowed to claim a subtraction on their Colorado Individual Income Tax Return for pension and annuity income included in their federal taxable income. Qualifying individuals may claim a subtraction on the Subtractions from Income Schedule (DR 104AD) (opens in new window) for pension and annuity income included in their federal adjusted gross income.   The Colorado subtraction is generally allowed only to individuals age 55 or older but may also be claimed by individuals under age 55 for pension and annuity income they receive as a death benefit. The subtraction is generally limited to $20,000 each year or, for individuals age 65 or older, $24,000. In the case of joint filers, the subtraction is allowed separately to each taxpayer included in the joint return.      
My LLC divided a rental property into two pieces this year.  The house is now on a small lot, and the rest is a vacant lot.  There are now two tax lots.  There was no change of ownership, and the dee... See more...
My LLC divided a rental property into two pieces this year.  The house is now on a small lot, and the rest is a vacant lot.  There are now two tax lots.  There was no change of ownership, and the deeds show both pieces are still owned by the LLC.  How do I record this in Turbo Tax Business?
I took a $5,000 IRA distribution in 2024 and did not withhold taxes because I knew it would not put me into the next tax bracket and I always get a refund.  I still got a refund but the IRS took $1,0... See more...
I took a $5,000 IRA distribution in 2024 and did not withhold taxes because I knew it would not put me into the next tax bracket and I always get a refund.  I still got a refund but the IRS took $1,000 away from the refund.  The 1099 is coded correctly as a "7" so I don't know why I was taxed.  
Yes. You may still claim your child as your dependent.   She is still a qualifying child, according to the IRS Qualifying Child Rules.   Additionally, her earned income does not cover more th... See more...
Yes. You may still claim your child as your dependent.   She is still a qualifying child, according to the IRS Qualifying Child Rules.   Additionally, her earned income does not cover more than half of her support.    When filing her own return for her W-2, she should indicate that someone else can claim her on their return (you).
The result that you are seeing seems correct.  The distribution was from a 403(b) not from an IRA, so the reporting on form 1040 lines 5a/b and not on lines 4a/b is correct.  The fact that the distri... See more...
The result that you are seeing seems correct.  The distribution was from a 403(b) not from an IRA, so the reporting on form 1040 lines 5a/b and not on lines 4a/b is correct.  The fact that the distribution was from a 403(b), not from an IRA, is the reason that nothing about these rollovers is reportable on Form 8606.   And just to be clear, a 403(b) is not an IRA.
@LenaH  Also, your response will be applicable if you are using the same portion of the house for 2 different Schedule C.  In that case the same 33% is used for both business.  So, overall use of ho... See more...
@LenaH  Also, your response will be applicable if you are using the same portion of the house for 2 different Schedule C.  In that case the same 33% is used for both business.  So, overall use of home is 33%.  In this case, you will need to split the property tax for 2 Sch Cs.  So, the overall deduction is still 33% and you are not double dipping.  However, in @marc1974  case, there are 2 different areas.   May be this is the issue causing error in Turbo tax where it is adding all the property tax entered in form 8829 assuming all schedule C are using same part of the house.   In either case, the SALT does not apply for Sch C.
I entered my w2 and my wife's SSA-1099. She had a voluntary amount withheld. We had a nice return going. I just started social security in 2025 and we are both over 65. When I put my SSA-1099 in the ... See more...
I entered my w2 and my wife's SSA-1099. She had a voluntary amount withheld. We had a nice return going. I just started social security in 2025 and we are both over 65. When I put my SSA-1099 in the return was greatly reduced. I had understood that there was credit that would make it essentially tax free so I did not have anything withheld. It sure looks to me like I am paying taxes on that amount.   Can anyone help me understand what is happening?   Many Regards, Gregg [last name removed] [email address removed]
If I understand correctly, if one moves to another state, the smaller time spent in a state gets calculated first and the state with the most time spent is last.  Or do you file the state you current... See more...
If I understand correctly, if one moves to another state, the smaller time spent in a state gets calculated first and the state with the most time spent is last.  Or do you file the state you currently are living in first and the former state, even if it was over 184 days, gets filed last?   It wasn't explained anywhere and the desktop app doesn't care which one gets filed first, it calculates correctly no matter which order they are filed.  That looked suspiciously as a bug in the Online version.    This was a one year thing. But I appreciate your response.  I was afraid AI would bury it.  Thank you very much, Robert.  Sherlock solved it again.  
Can you try clearing your cache and deleting your cookies? This usually resolves looping errors like this.  How to clear your cache How to delete cookies  
@WriteOffWarrior , your understanding is generally correct in that  form 1116 needs  to  have directly or otherwise  collect the total foreign source income --- generally by country  ( often the case... See more...
@WriteOffWarrior , your understanding is generally correct in that  form 1116 needs  to  have directly or otherwise  collect the total foreign source income --- generally by country  ( often the case for  passive  foreign incomes ). It should then be able to  compute the applicable  ratio of  foreign source income to world income and  use this to allocate  US taxes for each foreign source income. If you are comfortable working in the forms mode ( and  for me the easiest way )  , just use the  "1116 Comp Wks".  This worksheet allows you to enter / edit   amounts which then flow to the  actual  " form 1116  ( Copy 1)".  Use only the entry items  and not the computed ones.  You should be quite safe.  However, just to be extra careful. I would suggest saving your return first  ( save as with a different name ) , then open the original and work with that.  If things go wrong , delete this working copy and use the saved version -- which has a different  name  but represents the original.   Good Luck. Is there more I can do for you ?
Also at issue is that there are AGI limits on taking this exclusion.  FTB publications are worthless on the topic and refer you to California Income and Tax Code Section 17132.9 and 17132.10.  I have... See more...
Also at issue is that there are AGI limits on taking this exclusion.  FTB publications are worthless on the topic and refer you to California Income and Tax Code Section 17132.9 and 17132.10.  I have quoted section17132.9 below for your reference (but recommend you read them for yourself): (1) “Qualified taxpayer” means a taxpayer that satisfies either of the following:   (A) In the case of a surviving spouse or spouses filing a joint return, adjusted gross income, as required to be shown on the federal tax return for the same taxable year, does not exceed two hundred fifty thousand dollars ($250,000).   (B) In the case of any other individual, adjusted gross income, as required to be shown on the federal tax return for the same taxable year, does not exceed one hundred twenty-five thousand dollars ($125,000).  
I am having the same problem with my Federal and Ohio returns.  Can't print them or save them to a pdf file, even though both returns have been submitted and accepted
RE: Not only does this in no way reflect my effective tax rate, but it is a completely meaningless metric   I've learned the hard way: this number is NOT to be trusted :(    
If you purchased after Sept 30, no.  The credit was canceled by the OBBB.   If you purchased before Sept 30, then maybe.  The credit depends on the manufacturer, model number, and other facts.  Y... See more...
If you purchased after Sept 30, no.  The credit was canceled by the OBBB.   If you purchased before Sept 30, then maybe.  The credit depends on the manufacturer, model number, and other facts.  You can look up your vehicle here. https://www.irs.gov/clean-vehicle-tax-credits   Separately, interest on the loan may be deductible if you bought a car that has final assembly in the US.   You can look up your car by VIN here, https://www.irs.gov/newsroom/one-big-beautiful-bill-provisions-individuals-and-workers#car
At least you had some codes. I have nothing to correct or click on. If you don't mind, could you post back whenever the state hopefully accepts yours or if they do not? Thanks
Unfortunately not.  The 2025 Hyundai Elantra Hybrid doesn't qualify for the federal Clean Vehicle Tax Credit. It's a standard hybrid, not a plug-in hybrid, and  Doesn't meet the strict North ... See more...
Unfortunately not.  The 2025 Hyundai Elantra Hybrid doesn't qualify for the federal Clean Vehicle Tax Credit. It's a standard hybrid, not a plug-in hybrid, and  Doesn't meet the strict North American assembly and battery component requirements.
Receiving credit from the school I accidentally put the wrong info for