All Posts

I assume you are talking about a state tax return, because there is no health insurance requirement on the federal tax return, and therefore no exemption is needed. What state is it? Every state is different.  California?   Please see Champ Mike9241's explanation above.   @Ricamay 

It is available. If you are using TurboTax Online you can view Schedule 3, Line 11 and Form 1040, Line 31 using the Preview My 1040. This will allow you to view the Form 1040 and Schedules 1,2,3. The excess social security will be automatically calculated by TurboTax.   When two or more employers withhold social security tax in excess ($168,600 maximum wage) a credit is allowed on your tax return.   See the instructions below.   From the left rail menu in TurboTax Online, select Tax Tools (You may have to scroll down on the left rail menu.) Select Tax Tools On the drop-down select Tools On the pop-up menu titled “Tools Center”, select View Tax Summary  On the left sidebar, select Preview my 1040  For TurboTax Desktop, change to 'Forms' and review the forms                          @marniegalloway   

If you are using TurboTax Online, try importing using a different browser. Make sure any VPN or Anvi-Virus is turned off.   See the following TurboTax Help articles for potential fixes: What if I can't import my 1099? How can I fix my 1099 import issue? How do I import my 1099s? How do I enter a large number of stock transactions in TurboTax?

so I have the same situation. plan on reporting it in the retirements plan section. what I'm confused about is what code I use in box 7. is it "P" or "8". what is the difference with these two codes? if I take care of it now, can I ignore the 1099R I receive in 2026? thanks.

OK, TELL US ABOUT OUR CLERGY HOUSING: Parsonage or housing allowance = 0 (put nothing or zero). Do fill in your qualifying expenses, continue.   This is absolutely incorrect.  Box 14 is a memo field, it is not used by the IRS for official purposes, and Turbotax will not tax your housing allowance properly (it is subject to SE tax even though it is excluded from income tax) unless you enter the housing allowance in the followup interview.  Box 14 is not enough. 

Receipt of an IRS 6174-A letter means that you are on their radar.  Given your limited activity in recent years, it is hard to understand why that is the case.   At the very least, construct a file of your crypto holdings should you be contacted by a tax authority in the future.   To ease your mind, you may want to contact an accounting or legal professional who is familiar with crypto tax reporting.

Thank you Annette, The fact that you pointed out that it includes dividend income, (which was already entered on the previous page), would explain the large number. I had assumed since you estimate next years dividend income, and entered it previously, that it wouldn't be included in the "other income" entry box. All of this is in the interview portion of calculating next years estimated tax.   Thanks again,   Fred

No, you do not need to amend your 2024 return.   The entry under "Corrective distributions made before the due date of the return" goes on line 2 of Form 5329. For line 3 line 2 is subtracted from line 1 but you do not enter a negative amount. Therefore, your return doesn't change and you do not need to amend your return since each time you will ended up with $0 (or blank field) for line 3.

You cannot file a joint return with a spouse who does not agree to file jointly.   If your spouse already filed as married filing separately, that leaves you with the choice to file MFS as well, or maybe to file Head of Household IF you lived apart for at least the last six months of 2024 and you have physical custody of the children.   If you did not live apart, then HOH is not an option which means married filing separately.   When you file MFS, you must adhere to several strict rules.   If your spouse used standard deduction you must also use standard deduction  or if he used itemized deductions then you are required to itemize deductions too.If you are in a community property state, it gets more complicated.   ( Community property states:  AZ, CA, ID, LA, NV, NM, TX, WA, WI )     https://turbotax.intuit.com/tax-tips/marriage/should-you-and-your-spouse-file-taxes-jointly-or-separately/L7gyjnqyM?srsltid=AfmBOopGqCNexowW0pYgvsf7ycIkrx4VjO_63UXv6vSnfu3UEGQiKQTh   https://ttlc.intuit.com/turbotax-support/en-us/help-article/income/getting-married-mean-taxes/L2RgmagpE_US_en_US?uid=m69on7t0     https://ttlc.intuit.com/turbotax-support/en-us/help-article/taxation/married-filing-separately-community-property/L11CeLUMs_US_en_US?uid=m69ousyh  

It depends. If she does not meet the filing requirements for Minnesota (MN) she is not required to file as a nonresident. MN Filing Requirements $14,575 - Single  If her income is below the filing requirement she could file MN for a full refund. She is not required to do that. Who must file an Illinois tax return?  If you were an Illinois resident, you must file Form IL-1040 if you were required to file a federal income tax return, or you were not required to file a federal income tax return, but your Illinois base income from Line 9 is greater than your Illinois exemption allowance of $2,775 for 2024. @ChicagoJ