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You can change the status by selecting My info in TurboTax.  You will go back through the interview questions and be able to change the selection.    
To access your current or prior year online tax returns sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/ Scroll down to the bottom of ... See more...
To access your current or prior year online tax returns sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/ Scroll down to the bottom of the screen and on the section Your tax returns & documents.  Click on the Year and Click on Download/print return (PDF) Or - When you sign onto your online account and land on the Tax Home web page, scroll down and click on Add a state.  This will take you back to the 2024 online tax return. Click on Tax Tools on the left side of the online program screen.  Then click on Print Center.  Then click on Print, save or preview this year's return.  Choose the option Include government and TurboTax worksheets   If you used the desktop CD/Download editions installed on your computer, the only copy of your tax data file and any PDF's will be on the computer where the return was created.  TurboTax does not store online any returns completed using the desktop editions.
1) I don't understand the percentages. They are not based on the percentage of days I have rented the property for most items. 2) I can't figure out how to make sure that expenses incurred during the ... See more...
1) I don't understand the percentages. They are not based on the percentage of days I have rented the property for most items. 2) I can't figure out how to make sure that expenses incurred during the time I rented the space are marked in full as expenses.
I just received a 1041 K-1 form from a trust inheritance received in 2024. I have already purchased and am using the Intuit Turbotax Premier version of the software that I purchased prior to receivin... See more...
I just received a 1041 K-1 form from a trust inheritance received in 2024. I have already purchased and am using the Intuit Turbotax Premier version of the software that I purchased prior to receiving this K-1 form.   Where do I report the K-1 on the Premier software?
Also in Locality name there are 2 different numbers
@ronsun  wrote: I went to the web site and there is no place to enter the license code. The TurboTax online editions website does not require a license code.  You purchased the TurboTax de... See more...
@ronsun  wrote: I went to the web site and there is no place to enter the license code. The TurboTax online editions website does not require a license code.  You purchased the TurboTax desktop edition which requires you to install the TurboTax software on your personal computer.   See this TurboTax support FAQ for entering the license code when installing the desktop software - https://ttlc.intuit.com/turbotax-support/en-us/help-article/license-information/install-turbotax-cd-download-software-license-code/L1wFOSXur_US_en_US?uid=m97lwwue
So, you selected the name of your disabled spouse, and then what happened? Did you follow all the steps that Vanessa laid out above? At what step did it fail and what did it do?
It appears that the information requested on that screen is no longer required. The law in Indiana changed for 2024, so that all military pay is deducted from state income tax. When I enter an activ... See more...
It appears that the information requested on that screen is no longer required. The law in Indiana changed for 2024, so that all military pay is deducted from state income tax. When I enter an active duty military W-2 in TurboTax, the military deduction is automatically applied on the Indiana return. When I prepare the state return I see the screen Military Deduction that tells me that the active duty military pay included in my federal return qualifies for a full deduction. Like you, I  did not have a box to enter total military pay, but all of my military  (active duty pay) was deducted. This document states that both active duty military and reservists may deduct all of that pay from their Indiana tax returns.    Thank you for bringing this to our attention.
@Solar Eclipse so it seems you can install old versions but won't be able to activate versions older than 3 years.   I have an old Mac with TT from 2015-2022 on it, I tried launching 2019 - it upda... See more...
@Solar Eclipse so it seems you can install old versions but won't be able to activate versions older than 3 years.   I have an old Mac with TT from 2015-2022 on it, I tried launching 2019 - it updated itself and runs fine (I was able to bring up an old tax return).  When I do a fresh install of TT 2019 on a new Mac it won't activate ("error code 630").   I did a fresh install and activation of 2022 on the new Mac along with 2023 & 2024, worked fine as I would expect, including software updates and state tax installation.   All the downloads and license keys are available from your Intuit account under Products and Billing, tho I did find for 2022 when I had purchased from Amazon it was not available to me on Intuit I had download it from Amazon again, but they keep your download history.   So yes consider it a 3 year license minimum, longer if the computer where it was activated lasts.  
Yes, I’m doing non-deductible Tranditional IRA conversion to Roth IRA. It asks about recharacterization and the article doesn’t mention anything about it
You can't contribute more than your total compensation.  Total compensation is net income from self employment (minus the deductible portion of self employment tax) and for w-2 employees is box 1 wag... See more...
You can't contribute more than your total compensation.  Total compensation is net income from self employment (minus the deductible portion of self employment tax) and for w-2 employees is box 1 wages minus box 11 contributions to non-qualified plans.   Assuming you contributed to normal maximum to your IRAs, including the spousal IRA provision, of $16,000 for 2024, but your compensation is less, you have an excess contribution.  You need to remove the excess contribution by April 15, or by October 15 but you need to get an extension to file.  The excess can be removed from either your account or your spouse or a combination of both.  "Removal of excess contributions" is a special procedure, not a normal withdrawal.  The custodian must also return an earnings attributed to the excess contributions.  Those earnings are taxable income on your 2024 return even though they will be paid in 2025.  To report the earnings, you will create a substitute 1099-R using the name and address of the IRA.  Put the total withdrawal in box 1, the taxable earnings in box 2a, and use codes "P" and "J" in box 7.   If you really think the plan will screw this up (they shouldn't, it is very common), on alternative is to leave the excess contributions in the account, you will pay a 6% penalty on the excess.  Then, make a regular withdrawal in 2025 of at least the amount of the excess.  This will remove the "excess" from the account.  The withdrawal will not be taxable on your 2025 return, for various reasons, but you will get a 1099-R and you have to report it, so it clears the penalty on form 5329.  You don't need to withdraw earnings in that case, that was what the 6% penalty on your 2024 return was for.  
In My Info, click on your name to expand the options.  Then, choose to revisit.  You can now change your name.    
Yes, those expenses could be considered start up expenses until your rental property is available for rent whether or not you have an immediate tenant. You can either deduct or amortize start-up expe... See more...
Yes, those expenses could be considered start up expenses until your rental property is available for rent whether or not you have an immediate tenant. You can either deduct or amortize start-up expenses once your business begins rather than filing business taxes with no income.   Start up costs - if you had any expenses before you actually opened for business services such as legal fees, market study or organization fees.   Amortize all of them over 180 months (IRC Section 195 Property); OR ​​​​​​The IRS allows you to deduct $5,000 in business startup costs and $5,000 in organizational costs, the first year the business/rental is operating, but only if your total startup costs are $50,000 or less Add them as Business Expenses. Continue past the expense categories (or choose Other Miscellaneous Expenses) to the page titled "Enter Business Expenses Not Yet Reported" and enter the description & amount  If you have more than $5000 in start-up costs, the remainder is entered under Assets/Depreciation as a capital asset for amortization as noted above. Start up Business Tax Tips Any assets purchased (house, appliances, capital improvements) will  be added as Assets for your rental property. Under rental expenses select Add expenses or assets. Where do I enter income and expenses from a rental property?
Hello,  I’m here because I need urgent help. I’ve never filed my W-2 in the 4 years I’ve worked. Only because I would always chose to pay taxes every check and always made under a certain amount of ... See more...
Hello,  I’m here because I need urgent help. I’ve never filed my W-2 in the 4 years I’ve worked. Only because I would always chose to pay taxes every check and always made under a certain amount of money. I wasn’t aware you still needed to file. Now I have to do all the taxes for every year I didn’t file but I don’t have those old W-2 what should I do. Please advise me in any way you can and I will do whatever it takes to solve this issue.
All of your suggestions are things that I have already  addressed. When I  call the IRS  # and ask for a status on 2022and2023, after entering the requested information (SS, Birth date, & zip),  thei... See more...
All of your suggestions are things that I have already  addressed. When I  call the IRS  # and ask for a status on 2022and2023, after entering the requested information (SS, Birth date, & zip),  their automated system responds that that person cannot be found.
Turbotax is generating Form 5239 based on the 1099 for my military retirement, which is a non-qualified plan.  Similarly, it generates one for my wife's life insurance policy distribution, which is a... See more...
Turbotax is generating Form 5239 based on the 1099 for my military retirement, which is a non-qualified plan.  Similarly, it generates one for my wife's life insurance policy distribution, which is also non-qualified.  Why does this happen?  Can I just delete these forms before filing?
Yes, based on this information, there is an opportunity to reduce/eliminate the penalty.  You can annualize the tax. Here is how to enter the information in TurboTax Online:   Navigate to Federal ... See more...
Yes, based on this information, there is an opportunity to reduce/eliminate the penalty.  You can annualize the tax. Here is how to enter the information in TurboTax Online:   Navigate to Federal > Other Tax Situations > Additional Tax Payments > Underpayment Penalties > Start or Revisit Continue through the questions until you arrive at the screen Annualized Income Method, answer Yes, and Continue on the next 2 screens  Enter the what you earned in the first 3 periods on the screen Annualized Adjusted Gross Income, ensuring the amounts are cumulative for the year.  Similar to step 3, on the screen Itemized Deductions on Schedule A enter the what your deductions were in the first 3 quarters, ensuring the amounts are cumulative for the year.  Continue with the process for the following screens until you reach the Conclusion, which needs to be unchecked if you want to see the results. Continue through the interview, answering the questions, until you reach Underpayment Penalty, which tells you what the underpayment computed using the annualized method is.   See also: Why am I getting an underpayment penalty if I'm getting a refund?