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  If you enter Form 1099-MISC in the Other Common Income section, at the screenDoes one of these uncommon situations apply?" none of those are accurate.    In the alternative, you can enter the amount under Other Reportable Income. In TurboTax Online: Go to Wages and Income Scroll down to Less Common Income Go to Miscellaneous Income Select Other Reportable Income and follow the prompts. Enter a description for the reason for the payment. this then goes down the path of reportable income, and will generate a schedule C.   If you are in Review, you can return to the Income section to make any needed changes  Can you detail specific accurate instructions. For special dividends?  

I had this same issue. Turbo Tax calculated 47% as taxable social security amount when further research indicates that this should have been 85%. Interestingly, our 2023 tax return in Turbo Tax shows 85%. I spent all afternoon trying to find someone at Turbo Tax to help with this. Now, I’ve decided that the IRS is right, so will pay per their notice.

You would look at Line a of Schedule A to find how much state income tax you deducted for 2023. Lines b and c are for real estate taxes and personal property taxes.   If your deduction was limited to $10,000, use that instead but only IF your income taxes on Line a were over $10,000.   You only have to report a refund as taxable to the extent that you received a tax deduction for what you paid.   See this help article for more information on entering the form.   See this article for more information about Form 1099-G.   See this TurboTax help article for more information about whether you need to report your state tax refund from last year as income.   @terentia 

Assuming you meant a 1099-OID (Original Issue Discount)...   When you purchase a bond or note at a discount, you'll get Form 1099-OID (Original Issue Discount). The discount is taxable interest over the life of the bond, which gets reported every year you hold the bond, even if you don't actually receive any interest.   Follow these steps to enter your 1099-OID in TurboTax: Open or continue your return. Navigate to the 1099-OID section: TurboTax Online/Mobile: Go to 1099-OID. TurboTax Desktop: Search for this exact phrase (we recommend you copy/paste from here): 1099-oid original issue discount. Select the Jump to link. On the Miscellaneous Investment Income screen, select the first box for Form 1099-OID. Follow the onscreen instructions. To remove an unwanted 1099-OID, follow the first couple of steps. This will bring you to the Form 1099-OID Summary screen where you can select Delete next to the unwanted 1099-OID.   TurboTax FAQ: Where do I enter Form 1099-OID?  

I have the exact same question and called 3 different TT experts who couldn't give me an explanation. On form 8995 I ave 48k carry over losses. If I put this number in the box for QBI carryover loss it will wipe out most of my W2 income which does not make sense at all. Can some one answer this please?

If you are using TurboTax, enter the sale proceeds, the cost/basis/value and the selling costs.    If this was your personal residence, enter under Wages & Income Less Common Income Sale of Home (gain or loss)   The gain or loss is reported on Schedule D unless the homeowner's exclusion to capital gain applies and the gain is not reported.    If this was a rental, enter in the rental section, if a second home, enter under "Investments, Other sale"    @mjckhc     

This is true if you nor your spouse (if filing a joint return) is covered by a retirement plan at work.  This definition also includes things like SEP-IRA for those who are self-employed.  Double-check your physical W2s as well as any W-2 entries for a check box beside "retirement plan". If this box is checked it disqualifies you from being able to deduct a contribution to your IRA (though you can still make it, it just can't be deducted). 

Hi @KrisD15 -- I've searched the internet about this topic and am seeing you are saying two different ways for handling this. Which is the correct way to handle this?   On another post regarding this same topic on 2/14/24 you say:  If the same income is reported on two different forms, the 1099-NEC and 1099-K , enter them both but then SUBTRACT THE DUPLICATED AMOUNT  as an expense on your Schedule C and name it "Income reported twice on Form 1099".   Now on this post, 3 weeks ago, I see you are saying: When you enter the 1099-K select the type of income, on the following screen use the option of "This amount in box 1a is too high or includes some personal transactions" Enter the amount that should not be on the 1099-K   Can someone please clarify what to do if you have income on 1099-NEC that also showed up 1099-Ks? For example, I got 1099NEC for 54441.25. This payer was paying through PayPal & Square Inc so I also received 1099K from PayPal for 15076.75 and 1099K Square Inc for 40716.50.  Although, 1352 of 15076.75 1099k Paypal was not accounted for in the 54441.25 1099NEC, because it was from a different payer and I didnt get a separate 1099NEC from that other payer. What do I do? Thanks!

You will not be able to e-file your 2023 taxes, but you can complete them and then print and mail them in. A 2023 tax return can only be printed and mailed. It cannot be e-filed using TurboTax.   If your return is not complete, it can only be completed using TurboTax Desktop. You will need to have the 2023 TurboTax desktop version to complete them in. In TurboTax Online you may be able to access your 2023 tax return info. You must use the exact same TurboTax Account you used when you prepared your 2023 tax return in TurboTax. But you will not be able to complete them or file them using TurboTax Online. If they are complete, you may be able to print them and mail them in.   Click here for How Do I File My Return By Mail?   Click here for Transfer last year's return to TurboTax Desktop for Windows   Click here for  Can I transfer last year's PDF into TurboTax Desktop 2024?   Click here for What's the difference between the tax data file and the PDF?