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Please follow these steps:   Click on "Search" on the top right and type “1099-R” Click on “Jump to 1099-R” and enter your 1099-R On the "Required Minimum Distribution" screen enter RMD ... See more...
Please follow these steps:   Click on "Search" on the top right and type “1099-R” Click on “Jump to 1099-R” and enter your 1099-R On the "Required Minimum Distribution" screen enter RMD for this account  On the "How much of This Distribution Applied to your December 31, 2024 RMD" screen select "The entire distribution applied…"  / or select "Some of this distribution…" and enter the RMD amount (if this distribution includes RMD for other IRA accounts then you included the amount here) On the "Your 1099-R Entries" screen click "Continue" On the "Did You Miss a Required Distribution From Any Retirement Accounts?" screen select "An IRA..." On the "Total RMD for all other IRAs" screen enter the RMD from your other IRAs (where you didn't take a distribution from).     You are not required to file Form 5329 if you met all of your RMD for 2024. TurboTax will enter the information in the "Additional Retirement Account Smart Worksheet" to check that you met the RMD but this will not be sent to the IRS.   Please see Can an account owner just take a RMD from one account for additional information.  
right I think that's the answer, you should have, since loss should be negative, but in TT they expressed that in the colum as "unalllowed loss" 
If your gain was more than  $250,000 filing Single, or more than $500,000 filing Married Filing Jointly the sale must be reported on your tax return.  Whether you re-invested the gain in to another h... See more...
If your gain was more than  $250,000 filing Single, or more than $500,000 filing Married Filing Jointly the sale must be reported on your tax return.  Whether you re-invested the gain in to another house is irrelevant.  If you  have a Form 1099-S go to Federal>Wages and Income>Less Common Income>Sale of Home (gain or loss) If you owned and lived in the home as your primary residence for at least 2 of the last 5 years on the date of the sale, you do not have to report the home sale if the gain is less than $250K filing Single, or less than $500K filing Married Filing Jointly (and you both owned and lived in the home for at least 2 years).   If you are using online TT, you need Premium software to report the 1099-S
hello, is there a way to pay turbo tax there fees with a cc instead of taking it out of my return?I have already e-filed them unfortunately.if my return goes to a check thats fine.thanks
I do not have assests, dependants, or property. I chose free. Turbotax let me know I would need to pay for state fileing, FINE!! But, I get to the end, filling out all myself, and now it wants me to ... See more...
I do not have assests, dependants, or property. I chose free. Turbotax let me know I would need to pay for state fileing, FINE!! But, I get to the end, filling out all myself, and now it wants me to pay over $100 for Federal. This is a SCAM. 
Got it - it's my resident state, so I guess it's OK. I had expected it to be the state where the sale occurred (where I am having to file a nonresident return), but since the income is getting report... See more...
Got it - it's my resident state, so I guess it's OK. I had expected it to be the state where the sale occurred (where I am having to file a nonresident return), but since the income is getting reported/taxed to my resident state seems OK. Thank you!
Go to Federal> Deductions and Credits> Your Home to enter mortgage interest, property taxes, and mortgage insurance that you paid in 2024   You should have a 1098 from your mortgage lender that shows... See more...
Go to Federal> Deductions and Credits> Your Home to enter mortgage interest, property taxes, and mortgage insurance that you paid in 2024   You should have a 1098 from your mortgage lender that shows this information.  Lenders send these in January/early February or you may be able to import the 1098 from the lender’s website.
I have 2 IRA's but only use one for my total RMD for both.  How do I show this in TurboTax
The IRS has to process your return, move it to the payment department and then set up the debit. It can take up to 3 weeks after filing. Review your paperwork. You will either have indicated to do a ... See more...
The IRS has to process your return, move it to the payment department and then set up the debit. It can take up to 3 weeks after filing. Review your paperwork. You will either have indicated to do a direct debit or you indicated you would mail a voucher.
Where can I access my 2023 tax return
When you use online TurboTax software you get one return per fee.   Each return needs its own account and user ID.   If you use the same account and user ID for a second return, the second one ov... See more...
When you use online TurboTax software you get one return per fee.   Each return needs its own account and user ID.   If you use the same account and user ID for a second return, the second one overwrites the first return and it is lost forever.   https://ttlc.intuit.com/community/using-turbotax/help/how-do-i-start-another-return-in-turbotax-online/00/25596
Need some guidance on filing AirBnB income for vacation home.   Facts: - wife and i own home with another married couple.  This is second home, vacation home, investment for us. - The four of us ... See more...
Need some guidance on filing AirBnB income for vacation home.   Facts: - wife and i own home with another married couple.  This is second home, vacation home, investment for us. - The four of us formed an LLC partnership (equal 25% share) to handle managing property and all related expenses, opened a separate business bank account pays all utilities/maintenance/repairs etc. with idea to eventually do short term rentals. - 2024 was first year we put home on AirBnB; have owned home 3 years - The home is owned personally by all of us, the LLC is not on deed - The LLC received 1099-K from AirBnB for ~$9k   (1) Were were suppose to file form 1065 last month?  (2) Do we need to?   (3) When filing, can the LLC deduct property taxes, mortgage interest, and property insurance?  I question this as LLC does not own the property.  (3b) If not, can these be deducted on personal income 1040?   (4) I assume LLC can deduct all other rental type expenses, cleaning, maintenance, repairs, utilities, against income to business, correct?  
The tax liability on  your  2023 return is the total tax on  line 24, not the tax due for 2023.  It's just used to help figure out if you have a 2024 penalty.   If you do not pay in enough tax from... See more...
The tax liability on  your  2023 return is the total tax on  line 24, not the tax due for 2023.  It's just used to help figure out if you have a 2024 penalty.   If you do not pay in enough tax from withholding and estimates, you may have to pay a penalty for underpayment of estimated tax. The penalty is an Estimated amount. Even if you are getting a refund you can still owe a penalty for not paying in evenly during the year. Generally, most taxpayers will avoid this penalty if they owe less than $1,000 in tax after subtracting their withholdings and credits, or if they paid at least 90% of the tax for the current year, or 100% of the tax shown on the return for the prior year, whichever is smaller. It is included in your tax due or reduces your refund. If you get a penalty on 1040 line 38, you might be able to eliminate it or at least reduce it. You can go to Federal Taxes tab or Personal tab, under Other Tax Situations and select Start by the Underpayment Penalties. You will answer a series of questions that may reduce or eliminate the penalty. Or you can elect to have the IRS figure the penalty for you. It's form 2210.   It's under Federal or Personal (for Home & Business Desktop) Other Tax Situations Additional Tax Payments Underpayment Penalties - Click the Start or update button
Hello, I am having the exact same problem.  I filed this same credit last year but this year I can't get past the drop down when you select the name.
Thanks. I do have a penalty. Thanks for pointing that out. 
Au formulaire final rien d'écrit a 107 mais le montant exact a 165. Le gourvement a corriger en ajoutant un montant a 107 sur mon avis de cotisation et réduit mon retour d'impôt.
Not sure why you expected that students do not pay tax.  Students do not get any sort of "tax-free" status.    If someone told you that, they were mistaken.    If you are filing single, then your fed... See more...
Not sure why you expected that students do not pay tax.  Students do not get any sort of "tax-free" status.    If someone told you that, they were mistaken.    If you are filing single, then your federal standard deduction is $14,600.  That is the amount of your income that is "tax free"-- just like any other single filer.  The rest of your income is subject to federal tax.  If you did not have enough tax withheld from your paychecks then it is possible for you to owe.   When you enter your W-2's with the amounts of income and the amounts withheld for federal and state tax, the software calculates whether you owe more tax or get a refund.