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April 1, 2025
9:57 AM
I imported my 1099-B from my financial institution. When it asked if these were RSUs/ESPPs, I said no accidentally, and it doesn't ask again. I selected "Other" under the type of investment, and adju...
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I imported my 1099-B from my financial institution. When it asked if these were RSUs/ESPPs, I said no accidentally, and it doesn't ask again. I selected "Other" under the type of investment, and adjusted the cost basis to account for the fact that they are ESPPs and had taxes withheld at the time of granting at market price. My question is whether it matters if I select ESPP or Other since I am adjusting the cost basis?
April 1, 2025
9:57 AM
Can you highlight the tax file and right click with your mouse to save as an Adobe pdf?
April 1, 2025
9:57 AM
Form 1099-INT should be allowed to be entered.
Wages & Income
Interest and Dividends
Interest on 1099-INT START or UPDATE
You may need to select "Add investments" and then "Skip ...
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Form 1099-INT should be allowed to be entered.
Wages & Income
Interest and Dividends
Interest on 1099-INT START or UPDATE
You may need to select "Add investments" and then "Skip Impot" or "Enter another way" to get into the Interest section
Select "Interest 1099-INT" on the investment type screen and Continue
April 1, 2025
9:57 AM
Yes, a minor can have a Roth IRA and as Bsch4477 said, self- employment income may be subject to self-employment tax. However, there are special rules when you pay your children through your busines...
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Yes, a minor can have a Roth IRA and as Bsch4477 said, self- employment income may be subject to self-employment tax. However, there are special rules when you pay your children through your business. You MUST keep accurate records of what work they did and how much you are paying them for, especially if they are under the filing thresholds for self-employment and/or income taxes.
April 1, 2025
9:57 AM
The federal vouchers printed with my return but not the state. I need PA state vouchers to print as well.Please help.
April 1, 2025
9:57 AM
Did you e-file? Did you click a big orange button that said “Transmit my returns now?”
When you e-file your federal return you will receive two emails from TurboTax. The first one will sa...
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Did you e-file? Did you click a big orange button that said “Transmit my returns now?”
When you e-file your federal return you will receive two emails from TurboTax. The first one will say that your return was submitted. The second email will tell you if your federal return was accepted or rejected. If you e-filed a state return, there will be a third email to tell you if the state accepted or rejected your state return.
First, check your e-file status to see if your return was accepted:
https://turbotax.intuit.com/tax-tools/efile-status-lookup/
If the IRS accepted it, what does it say here?
https://www.irs.gov/refunds
Or does your account say “Ready to Mail?” Or “Rejected?” Or “Printed?”
Note: If it says “Rejected,” “Ready to Mail” or “Printed” that means YOU have to mail it yourself. TurboTax does not mail your tax return for you.
If you realize now that your return was not e-filed successfully, then you will need to file it by mail. E-filing is permanently closed for past year returns. You will need to print the return, sign and date it in ink, and mail it in.
April 1, 2025
9:56 AM
Please help, I am at my wit's end here, re-asking a question from several weeks ago that never rated a response. I need to get an adjustment to a 1099-OID for amortized bond premium to appear on ...
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Please help, I am at my wit's end here, re-asking a question from several weeks ago that never rated a response. I need to get an adjustment to a 1099-OID for amortized bond premium to appear on my Schedule B. For some reason, it does not flow from the 1099-OID entries in TurboTax, even though I can see the adjustment on the worksheet in Forms. (Edited to add: I even tried plugging the value into Box 10, even though it was not reported that way, and still the value does not flow through to the Schedule B.) This seems like a bug?? That said, I am seeking a workaround. I would just plug the proper number into the Schedule B directly, but it appears not to be editable. How do I get this information to flow correctly?
April 1, 2025
9:56 AM
Thanks Julie S!!!! It would be great if Intuit / Turbo Tax had this level of direction in the application itself!
April 1, 2025
9:56 AM
If you made a nondeductible contribution to your IRA in 2024 and failed to file form 8606 with your 2024 tax return, you can fill out and file this form for 2024 now as a standalone form. You do not ...
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If you made a nondeductible contribution to your IRA in 2024 and failed to file form 8606 with your 2024 tax return, you can fill out and file this form for 2024 now as a standalone form. You do not need to amend your 2024 tax return. You can send this form to the IRS at the address where you would file your tax return. This depends on your state of residence.
Please find the address in this IRS document.
If you fail to file form 8606, you will be taxed on the distribution of your nondeductible contribution.
You do not need to amend your state return.
April 1, 2025
9:56 AM
1 Cheer
Foreign Students temporarily present in the United States in F-1, J-1, or M-1, status for less than 5 calendar years are generally nonresident aliens under residency rules of IRC section 7701(b). Ge...
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Foreign Students temporarily present in the United States in F-1, J-1, or M-1, status for less than 5 calendar years are generally nonresident aliens under residency rules of IRC section 7701(b). Generally, foreign students in F-1, J-1, or M-1 nonimmigrant status who have been in the United States more than 5 calendar years become resident aliens for U.S. tax purpose if they meet the “Substantial Presence Test”.
If in 2024 you had been in the US for less than 5 calendar years or did not meet the substantial presence test, then you were a non-resident alien. As a non-resident alien you cannot file Form 1040, which means you should not have filed using TurboTax. You have to file an amended Form 1040 and re-file on Form 1040-NR.
April 1, 2025
9:55 AM
My spouse and I live in different states (MA and DC respectively), so we filed our federal taxes as "Married File Jointly" and state taxes as "Married Filing Separately". For DC, turbotax has intsruct...
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My spouse and I live in different states (MA and DC respectively), so we filed our federal taxes as "Married File Jointly" and state taxes as "Married Filing Separately". For DC, turbotax has intsructed to attach my federal returns. In that case, is it okay to attache the MFJ returns?
Topics:
April 1, 2025
9:55 AM
For the workaround to use box 3 value in box 1 with "Nontaxable medicaid payments", there may be a round up issue. For example, if box 3 value is 1000.88, TT would somehow round it to 1001 somewhere...
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For the workaround to use box 3 value in box 1 with "Nontaxable medicaid payments", there may be a round up issue. For example, if box 3 value is 1000.88, TT would somehow round it to 1001 somewhere, and Smart check would report an error say that the number can not be larger than 1000.88. I could round it down to 1000 to get around that, but it's still no ideal. No, even if I put 1000.88 during Smart Check fixup, it would still be rounded to 1001 and the error would come up again. I really hope TT can handle zero box 1 value with excess social security tax withheld so I don't have to use any workaround every year.
April 1, 2025
9:55 AM
I DO NOT LIVE AND I HAVE NEVER OWNED A HOME IN LAKE CO. IN. WHY DO I CONTINUE TO GET THIS HOME. INDIANA ASSUMES THAT I QWN A HOME IN LAKE CO HOW SHOULD I RESPOND? HOW TO GET RID OF THE QUESTI...
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I DO NOT LIVE AND I HAVE NEVER OWNED A HOME IN LAKE CO. IN. WHY DO I CONTINUE TO GET THIS HOME. INDIANA ASSUMES THAT I QWN A HOME IN LAKE CO HOW SHOULD I RESPOND? HOW TO GET RID OF THE QUESTION?
April 1, 2025
9:55 AM
TurboTax Premier 2024 is asking "Did you buy every investment listed on your 1099‑B?" They mention that "Any inherited or gifted investments are not considered bought." My 1099-B is for proceeds...
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TurboTax Premier 2024 is asking "Did you buy every investment listed on your 1099‑B?" They mention that "Any inherited or gifted investments are not considered bought." My 1099-B is for proceeds from a revocable trust where I was a trustee, which became irrevocable upon the death of the account owner. I'm a bit confused about how to answer, because in some contexts, these proceeds are not considered an "inheritance." But maybe they are in this case (in which case I should answer No)?
April 1, 2025
9:54 AM
In general, nonresidents pay tax to the state where they worked, residents have to report and pay taxes on all income regardless of where it is earned. In addition, some states require you to comput...
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In general, nonresidents pay tax to the state where they worked, residents have to report and pay taxes on all income regardless of where it is earned. In addition, some states require you to compute the state income tax regardless of where it is earned and applies the tax only to the state income.
April 1, 2025
9:54 AM
Topics:
April 1, 2025
9:54 AM
Thank you. One last question. I see that if I mail it I will need to submit an explantion form as you outlined. Once TurboTax fixes the processing issue on April 4th, so that I can e-file... will ...
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Thank you. One last question. I see that if I mail it I will need to submit an explantion form as you outlined. Once TurboTax fixes the processing issue on April 4th, so that I can e-file... will there be a way to attach an explanation form to the e-file? Or how would that work?
April 1, 2025
9:53 AM
I received a legal referral fee (referred in ~2014) for a successful lawsuit (won and paid in 2024). I had no other involvement/work in the case, other than the referral itself. At the time of the ...
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I received a legal referral fee (referred in ~2014) for a successful lawsuit (won and paid in 2024). I had no other involvement/work in the case, other than the referral itself. At the time of the referral, I worked for a New York law firm, and referred the case to that New York law firm. Between the time of the referral and the payment of the fee (several years), I retired and moved to Massachusetts. Half of the fee was reported on a 1099-MISC, the other half of the fee was reported on a 1099-NEC (by different payors, each paying 50% of the fee). -->Do these payments result in my needing to file a Schedule C, or should they be reported as other income? -->If they do require the filing of a schedule C, are they a "qualified trade or business" under Section 199A (yes or no)? -->Must I file a New York return for these payments (I am a Massachusetts resident at the time of payment)? Many thanks.
April 1, 2025
9:52 AM
In TurboTax Premium Online, review or enter the carryover losses within the rental activity, at the screen Here's rental property info.
Select the pencil to the right of Carryovers, limitatio...
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In TurboTax Premium Online, review or enter the carryover losses within the rental activity, at the screen Here's rental property info.
Select the pencil to the right of Carryovers, limitations, at risk info, etc.
April 1, 2025
9:52 AM
Be careful----that extra $40 is a "refund processing" fee. If you choose to pay the $25 state e-file fee by having it deducted from your federal refund then you pay another extra fee on top of that...
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Be careful----that extra $40 is a "refund processing" fee. If you choose to pay the $25 state e-file fee by having it deducted from your federal refund then you pay another extra fee on top of that. Pay for the state e-file BEFORE you e-file by using a credit or debit card.