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When you enter the treasury bonds interest income as part of your Federal return, the interest reported in box 3 of your Form 1099-INT is automatically subtracted from your Virginia income.  You can see this entry on the VA Form 760 as part of line 7 Subtractions.  It is also reported on the VA Schedule ADJ.   If you are using TurboTax Online, you can pay to file your return and get access to review everything before you actually file.   Or, you can see a summary of the VA return by using these steps:   In the navigation area on the left side of your screen, click Tax Tools to expand your choices Click Tools, which will open the Tool Center Click View Tax Summary under “Other Helpful Links…” Click  Preview My 1040 on the left side of your screen to see your actual tax Federal form Underneath the Preview my 1040 option, there will be a VA Tax Summary choice that will allow you to take a look at a summary version of your Virginia return.      

If you'd like, we can look at your return and see exactly what you see to help come to a resolution. The return will be scrubbed and won't include any of your personal details.   If you're using TurboTax Online: Once you're logged in to your account and have your amended return open, - on the left hand panel, click on Tax Tools and then choose Tools - on the pop up window, select Share my file with Agent - you'll see a message saying you'll give us a copy of your tax return. Your personal information will be changed so we can't see any private information. - click okay and you'll get another message with a token   If you're using TurboTax Desktop: Click on Online in the top menu of TurboTax Desktop for Windows Select 'Send Tax File to Agent' Write down or send an image of your token number and state then place in this issue. We can then review your exact scenario for a solution   Please reply to this message with your token so that we can further assist you. Let us know all other states that are included on the return.

@Raydzm26  It would be best to wait for the IRS to complete processing your return and the payment before you start to amend your tax return.  You want to make sure that the IRS does not make any changes to your return before you amend.

Following those prompts worked for me last year for 1099misc for short-term disability payments (obviously not a business, right?), but this year it did not ask me if it was an attempt to make money.  It seems to be an error or oversight in the software.  I am not a tax expert, but here is what worked for me on the desktop version: Click on Forms at the top find Schedule 1   I compared my form from last year to the one from this year and saw that I needed to move $ from the 1099misc from line 3 (business income) to line 8z (other income) but the field could not be edited.  It turns out you have to enter it on the worksheet and it will automatically populate the schedule 1.   find the form called "Other Income" Go down to line 12 and enter "other income from box 3 of 1099misc and your dollar amount.  It was entered on line 8z last year, but I am unable to edit those fields in forms.  This puts the info on line 8z (other income) of the schedule 1, where I think it is supposed to be, for me anyway. Go to step-by-step and find business income, schedule C Delete the schedule C This will take the $ out of line 3 (the business income line) on the schedule 1, but the 1099misc still shows an error because it wants to create the schedule C.   Go back to Forms mode and find your 1099misc form I checked "other income" in box 3 of of 1099misc and the error went away.   Problem solved... hopefully  

I suggest you do the Federal Review located on the left sidebar. This review will highlight missing entries and potential errors. Complete the review to the very end. This will also activate the Refund Meter.

You have to report all income that is included in form 1099-K, but you can exclude items which are not income or are not taxable. You'll need to keep all necessary information on which items are excluded in your tax records, in case of inquiry by the IRS.   Please read this IRS document for more information.

You would need to know what the maximum allowed credit is for the type of improvement you made to the property.  For example, for an efficient central air conditioner, the maximum credit allowed is 30% of the cost up to $1200 maximum credit.  So, if the unit was $5000, then the maximum credit would be $1200 (since 30% of $5000 is $1500, but the maximum allowed is $1200).   You can find those details in the IRS Instructions for Form 5695, or TurboTax may give you that information as you go through the program.   @strongirler 

Hi DoninGa...my return has been accepted but not processed...I already paid 2400 dollars from my bank account which I will most likely get most if not all back...can I begin my amendment now or do I have to wait for the complete process and then try to get my money back?

In TurboTax Online, you can enter the sale of land by following these steps:   Open your tax return Click on Federal in the left-hand column, Then on Wages & Income choose Investments and Savings and click on the down arrow on the right Click on Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B) Did you sell any investments? yes Did you receive a form 1099-B or brokerage statement?  No Select Other (other investment purpose) from the list of investments. Follow the TurboTax interview to enter your information. You will enter the total adjusted basis as the basis of the land. If you incur sale expenses, you can subtract them from the proceeds.

You cannot recharacterize a contribution after the due date. Therefore, you cannot move the funds to a traditional IRA via recharacterization. To avoid the 6% penalty in future years you will have to remove the excess contribution. You then can make a new Traditional IRA contribution for 2024 or 2025.    You will have to pay the 6% on your 2024 tax return since cannot apply the excess contribution as a 2024 contribution and didn't remove the excess by December 31, 2024.   To remove the excess contribution you will take a regular distribution of $5,777.66 (without earnings) since it is after the due date of the 2023 return. You will get a 2025 Form 1099-R with code J (if you are under 59 1/2) and this will be entered next year on your 2025 return and resolve the excess contribution:   Click on "Search" on the top and type “1099-R”  Click on “Jump to 1099-R” and enter all your 1099-Rs Click "Continue" on the "Review your 1099-R info" screen Answer all the questions and make sure you enter the net contributions prior to 2024 on the "Enter Prior Year Roth IRA Contributions" screen (include the excess contribution here) On the "Do you have any Excess Roth Contributions" answer "Yes" On the "Enter Excess Contributions" screen enter the total excess contribution from 2023.   No, you do not have to pay the 10% early withdrawal penalty since you can withdraw contributions you made to your Roth IRA anytime, tax- and penalty-free.    [Edited 4/2/2025 | 5:51 am PST]

If you are using TurboTax Online, you need to use TurboTax Premier or above to report the sale of your rental home.    If you are using TurboTax Desktop, then any version can handle it.   To report the sale of your rental home, please follow the instructions in this TurboTax Help article.

@ haridarshana  You cannot move a started 2024 return from the desktop product to Online TurboTax without starting over, if that's what you are wanting to do.   You can only transfer last year's 2023 data file from the desktop into 2024 Online TurboTax.       To switch from 2024 desktop Premier to Online, you'd have to start over in Online TurboTax and would be charged again unless you ask for a product refund for your desktop Premier.   The license code for Premier cannot be used to pay for Online TurboTax.   Why would you want to make that move?   The desktop Premier is superior and has more features, including Forms Mode to view/edit forms during preparation.   Desktop Premier also includes a state program download to prepare a state return.   In Online TurboTax there is an additional fee to prepare a state return. Desktop Premier can prepare multiple Federal returns.   Online TurboTax can only prepare 1 Federal return per account per year.

If your employer withheld KS state tax from your paychecks, they should have box 16 completed on your W-2. If they won't provide a corrected W-2, you can enter the same number from box 1 into box 16. It shouldn't double your income.

Another question please. For 2023 amend and 2024 tax filing, when TurboTax asks for the amount contributed to Roth IRA, do I enter just the amounts contributed for each respective year ($7,500 for 2023 and $8,000 for 2024)? Or do I enter amount contributed AND its earnings?   And what do I enter for "Corrective distributions made before the due date of the return" please? Amount contributed and its earnings?   Thank you for your help.