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To find the Community Service Contribution Credit Certificate Number, follow these steps: The certificate number is typically provided by the organization to which you made the contribution. Rea... See more...
To find the Community Service Contribution Credit Certificate Number, follow these steps: The certificate number is typically provided by the organization to which you made the contribution. Reach out to them directly to request the certificate number if you haven't received it. Review any documentation or receipts you received when you made the contribution. The certificate number should be listed there. Note  If you are claiming a new community service contribution credit for contributions made this tax year, you will receive an approval from the community organization eligible to offer this credit. This approval may be an approved tax credit application or a tax credit certificate. Be sure to keep a copy for your records as the Kansas Department of Revenue reserves the right to request any certifications or copies of written agreements as necessary. For more detailed information, you can check out these resources: Kansas.gov: K-60 Credit   Reach back out if you meant something else
Yes, you may be able claim the interest paid on Parent PLUS loans on your taxes, even if your child files their own taxes. Here’s how it works: Eligibility: To claim the deduction, you must be lega... See more...
Yes, you may be able claim the interest paid on Parent PLUS loans on your taxes, even if your child files their own taxes. Here’s how it works: Eligibility: To claim the deduction, you must be legally obligated to repay the loan and must have made the payments yourself. Since Parent PLUS loans are taken out in your name, you meet the criteria. Deduction Limits: You can deduct up to $2,500 of interest paid on qualified student loans, including Parent PLUS loans, each year. This deduction is an adjustment to income, meaning you can claim it even if you don't itemize deductions Income Phaseouts: The deduction is subject to income phaseouts. For 2024, the phaseout begins at $75,000 for single filers and $150,000 for married couples filing jointly. If your modified adjusted gross income (MAGI) exceeds these limits, the deduction may be reduced or eliminated Your filing status affects eligibility. The deduction is unavailable if you file as “Married Filing Separately” or if you can be claimed as a dependent on someone else’s tax return. For more detailed information, you can check out: Accounting Insights: Can You Claim a Parent PLUS Loan Tax Deduction?
On turbotax self employed version it says: Your capital losses so far $10,341 $3,000 of these losses are deductible this year. The rest will be carried forward to next year's taxes. repeat, it sa... See more...
On turbotax self employed version it says: Your capital losses so far $10,341 $3,000 of these losses are deductible this year. The rest will be carried forward to next year's taxes. repeat, it says "$3000 of these losses are deductible this year". So why didn't i get a reduction on my income? Is there a section on turbotax I need to enter to claim this $3000 loss on my income?
I have a similar fact pattern, had trees that were uprooted by Hurricane Helene and also a damaged dirveway / cart path.  I have paid invoices from the contractors from the tree removal and for the c... See more...
I have a similar fact pattern, had trees that were uprooted by Hurricane Helene and also a damaged dirveway / cart path.  I have paid invoices from the contractors from the tree removal and for the cart path repair.  Insurance payments were zero as it was deemed not covered.  In this scenario, would I enter the amount of the contractor invoices as the cost basis, insurance reimbursement as 0?  Also, on the next screen in Turbo Tax, what do I enter for the FMV Before Loss and for the FMV after loss? Assuming I enter the contractor's invoice value as the value for FMV Before Loss and enter 0 for FMV After Loss - is that correct?
Hm, thanks for the reply. But I'm confused why this would be investment income. A family member got this item as a gift from work, and then I sold it on my eBay account. Does that change anything?
Is it possible to make this election with TurboTax Online? There appears to be no way to add a blank form.
I did and I got an automated message that wouldn't direct me to a live person.
Yes, you can deduct the capital gain.   Individual taxpayers can deduct qualifying gains receiving capital gain treatment that are included in Federal adjusted gross income. “Qualifying gains ... See more...
Yes, you can deduct the capital gain.   Individual taxpayers can deduct qualifying gains receiving capital gain treatment that are included in Federal adjusted gross income. “Qualifying gains receiving capital treatment” means the amount of net capital gains, as defined under Internal Revenue Code Section 1222(11). The qualifying gain must result from the sale of real or tangible personal property located within Oklahoma that has been owned for at least five uninterrupted years prior to the date of the transaction that gave rise to the capital gain. 2024 Form 561 Oklahoma Capital Gain Deduction
Go back to the personal info section and select edit next to your name then check the box that says another taxpayer can claim you on their tax return. 
I put in as income from Rental, Royalties Etc.
There is no Schedule A
Which form are you seeing a partial SSN listed?
Did you click that big orange button that said “Transmit my return now?”  If you did that, you cannot do anything to fix it yet.  You have to wait for the email that tells you if your return was acce... See more...
Did you click that big orange button that said “Transmit my return now?”  If you did that, you cannot do anything to fix it yet.  You have to wait for the email that tells you if your return was accepted or rejected.   You cannot change or add anything on the return that you just e-filed, nor can you stop it.  It is too late, just like when you put an envelope in a US mailbox on the corner.  The IRS does not allow you to take it back.   If you left out a W-2, a 1099G, or a dependent, or a 1099 etc…DO NOT change your return while it is “pending.”  The changes will go nowhere.   Now you have to wait until the IRS either rejects or accepts your return.  If your return is rejected, you will be able to go into your account and make the necessary changes to your tax return and re-submit your return.     If the IRS accepts your return, however, then you have to wait longer until it has been fully processed and you have received your refund.  THEN you can prepare an amended tax return and e-file or mail  it in. You have to be able to work from that return exactly the way it was when it was e-filed originally.  You will need to use a form called a 1040X.     Meanwhile, DO NOT go in and start changing anything on your return in the system, or you will make a mess for yourself.  Sit tight and wait until you see what the IRS does with the return you just e-filed
Not sure which tax forms you are referring to.   Tennessee does not levy a state-level income tax on personal income.     Individuals are not subject to income tax on earnings.   If this ... See more...
Not sure which tax forms you are referring to.   Tennessee does not levy a state-level income tax on personal income.     Individuals are not subject to income tax on earnings.   If this does not completely answer your question, please contact us again and provide more information.
You won't be able to import without the W-2.  You also need the Box 1 wages.     You can contact your former company's payroll department to help you obtain your W-2.  The IRS will also assist yo... See more...
You won't be able to import without the W-2.  You also need the Box 1 wages.     You can contact your former company's payroll department to help you obtain your W-2.  The IRS will also assist you, you can contact the IRS Taxpayer Assistance Center here: Taxpayer Assistance Center Office Locator   Here is an article with more information: What To Do If You Haven't Received a W-2
Each tax year has to be filed separately using the forms for the specific tax year.  They cannot be combined in any way--do not even put them in the same envelope when you mail them.  Software for pa... See more...
Each tax year has to be filed separately using the forms for the specific tax year.  They cannot be combined in any way--do not even put them in the same envelope when you mail them.  Software for past years is available back to 2021.  Any earlier years can only be prepared on paper forms by hand--and those refunds have been forfeited now.   The current online program can only be used for a 2024 return--no other year.  And if you did not file a timely 2023 return you will have trouble e-filing 2024.  When it asks for your 2023 AGI try using zero.  If zero does not work then you have to print, sign and mail 2024.         You cannot change the tax year.   The current online program is for 2024 only.   Only a 2024 return can be prepared online and only a 2024 return can be e-filed.   Online preparation and e-filing for 2021, 2022, and  2023 is permanently closed. Note:  The desktop software you need to prepare the prior year return must be installed/downloaded to a full PC or Mac.  It cannot be used on a mobile device.   To file a return for a prior tax year  If you need to prepare a return for 2021, 2022, or 2023  you can purchase and download desktop software to do it, then print, sign,  and mail the return(s) https://turbotax.intuit.com/personal-taxes/past-years-products/ You may also want to explore purchasing the software from various retailers such as Amazon, Costco, Best Buy, Walmart, Sam’s, etc.   Remember to prepare your state return as well—if you live in a state that has a state income tax.   https://ttlc.intuit.com/turbotax-support/en-us/help-article/state-taxes/contact-state-department-revenue/L9qVToi02_US_en_US?uid=m6e06um0   When you mail a tax return, you need to attach any documents showing tax withheld, such as your W-2’s or any 1099’s.  Use a mailing service that will track it, such as certified mail so you will know the IRS/state received the return.   Federal and state returns must be in separate envelopes and they are mailed to different addresses.  Read the mailing instructions that print with your tax return carefully so you mail them to the right addresses.  
It does not give the option of vehicle in the farm asset section(2023 version). You can enter it as machinery but if you look at the "form view, " there is a checkbox that asks " is this a truck or... See more...
It does not give the option of vehicle in the farm asset section(2023 version). You can enter it as machinery but if you look at the "form view, " there is a checkbox that asks " is this a truck or van?" Which needs to be addressed.   If you check yes on the form view, then your write off amounts get flagged in red and the form is flagged as incomplete.    It is my understanding that a farm vehicle over 6,000lbs has a yearly write off amount limit that doesn't apply to farm machinery.    The vehicle in question is a diesel truck >6,000lbs with a >6' cargo area(bed).   Is there a work around for this?