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April 8, 2025
9:25 AM
1 Cheer
You should be able to file electronically in this case if you apply for an Identity Protection Pin (IP PIN). This is a new way that the IRS has this year to allow for a second filing when a retu...
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You should be able to file electronically in this case if you apply for an Identity Protection Pin (IP PIN). This is a new way that the IRS has this year to allow for a second filing when a return is rejected for a return already filed using the Social Security number of a dependent.
You can obtain the PIN via your IRS account which takes a few minutes to set up. (You do that at the IRS website.) Once at the IRS website scroll through the tolls for "My Account" to apply. You will need to get a new pin every year (via the same account) to file once you have an IP PIN. Note that you should get the PIN for yourself (the taxpayer) not the dependent. Once you have the IP PIN, HERE is how to enter it in TurboTax. If the IP PIN doesn't work, you will need to mail your return with a postmark of no later than April 15.
April 8, 2025
9:24 AM
we had the same issue. my son is a high school student and works part time. while going through the entire process it consistently showed him getting a total refund of approx $300. After we got done ...
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we had the same issue. my son is a high school student and works part time. while going through the entire process it consistently showed him getting a total refund of approx $300. After we got done triple checking his info for accuracy we elected to print and mail the return. the amount decreased to $33. Seems as if turbotax isn't accurate and is misleading. Why would the amount change bc we wanted to print? why would it show a larger refund amount than what it actually was? my son is understandably upset that the info was misleading. i have filed my taxes online with turbotax the last couple years but this has me leary now.
April 8, 2025
9:24 AM
If your Schedule K-1 has amounts in both Box 1 and Box 2, you will need to add another K-1 to report Box 2 only.
Enter all the information from Part I and Part II of the K-1 on both copies. Inc...
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If your Schedule K-1 has amounts in both Box 1 and Box 2, you will need to add another K-1 to report Box 2 only.
Enter all the information from Part I and Part II of the K-1 on both copies. Include all information from Part III on the first copy - except for the amount in Box 2. The second copy should have only the amount in Box 2 from Part III.
If, however, you received additional information with Schedule K-1 that provides the breakdown of the amounts in the other boxes, use this info to split the other box amounts between the K-1s. Otherwise, follow the instructions above.
April 8, 2025
9:23 AM
The IRS uses your prior year AGI to combat fraud.
You can find your 2023 Adjusted Gross Income (AGI) by:
Looking at line 11 on page 1 of your 2023 Form 1040
Requesting a transcript o...
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The IRS uses your prior year AGI to combat fraud.
You can find your 2023 Adjusted Gross Income (AGI) by:
Looking at line 11 on page 1 of your 2023 Form 1040
Requesting a transcript of your 2023 tax return from the IRS. You can request your transcript online at the following link: Get Transcript
Please click on this TurboTax article for more information.
Check these items as well to ensure you have the correct number. If you:
Filed late last year after mid-November or your return was processed after that time—try entering 0.
Amended your return last year—make sure you’re using the AGI from your original return, not the amended one. (If you only have a 1040X form, it’s on line 1, column A).
Rounded your AGI to the nearest dollar—be sure to round up when it’s 50 cents or more and down when it’s 49 cents or less.
Filed with your spouse last year—you and your spouse have the same 2023 AGI. (Don’t split the AGI amount or enter 0 for one of you).
Time-saving Tip: If what you entered is correct and you continue to get a reject, you won't be able to e-file. There's probably a data mismatch at the government, or some other situation beyond your control that prevents your return from being e-filed. In this case, your only option would be to print and mail in your return.
This article will give you instruction on how to print and mail your return.
April 8, 2025
9:23 AM
Topics:
April 8, 2025
9:23 AM
1 Cheer
You only get Head of Household if you have a dependent. $16,550 is the Standard Deduction for Single over 65. So that's right. Your Social Security is not taxable at all since your other income is...
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You only get Head of Household if you have a dependent. $16,550 is the Standard Deduction for Single over 65. So that's right. Your Social Security is not taxable at all since your other income is less than $25,000. And since the 16,550 Standard Deduction is more than your total income your taxable income is 0 zero. The Standard Deduction is subtracted from your income to give you the taxable income. Since you owe no tax on your income you get back all the $85 withholding. And since you don't have any earned income from working like a W2 you do not qualify for any credits. Don't know what you are referring to about inflation allowance $400 ?? Could that be a state thing? And please don't keep making new posts. Keep all the posts for this by replying to this thread.
April 8, 2025
9:22 AM
No, unfortunately at this point you just have to wait.
April 8, 2025
9:22 AM
1 Cheer
The treatment of where and how the sale of your inherited property in the TurboTax program is correct. The IRS considers inherited property to be long-term capital gain. The tax rate would be 0%,...
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The treatment of where and how the sale of your inherited property in the TurboTax program is correct. The IRS considers inherited property to be long-term capital gain. The tax rate would be 0%, 15%, or 20%, depending on your income bracket. Because these types of sales are considered investment sales, enter this info in the investment section of TurboTax. You’ll have to use TurboTax Premium to report the sale of a second home, an inherited home, or land. Open or continue your return. Navigate to the sold second home screen: TurboTax Online/Mobile: Go to sold second home. TurboTax Desktop: Search for sold second home and select the Jump to link. Answer Yes on the Did you have investment income in 2024? screen, then Continue. If you land on the Your investments and savings screen, select Add Investments. Follow the onscreen instructions. TurboTax FAQ: Where do I enter the sale of a second home, an inherited home, or land on my 2024 taxes? @Mark-001
April 8, 2025
9:22 AM
Yes, enter the actual state depreciation amount under Georgia Partnerships K-1 Adjustments.
April 8, 2025
9:22 AM
In general. you would only need to file an amendment if you would owe additional taxes. However, different states have different rules.
Did you actually receive the refund when you marked your ...
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In general. you would only need to file an amendment if you would owe additional taxes. However, different states have different rules.
Did you actually receive the refund when you marked your return that you received it or has no one actually received it? Was it applied to your state tax return? If it was then no your husband can not.
You could try calling your state Department of Revenue and asking them. You can contact your state's Department of Revenue website for more details.
April 8, 2025
9:22 AM
Call IRS e-file Payment Services 24/7 at 1-888-353-4537 to inquire about your payment.
If you want to check the debit date you specified, look on the filing instructions for your return. It wi...
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Call IRS e-file Payment Services 24/7 at 1-888-353-4537 to inquire about your payment.
If you want to check the debit date you specified, look on the filing instructions for your return. It will tell you the debit date the IRS or State will deduct the payment. If you did not print them out you can view them using the following steps:
TurboTax Online
In TurboTax Online, sign into your account.
You should be on your Tax Home page.
Scroll down to Your tax returns & documents.
Select 2024, and then select Add a State (you're not actually adding a state, this just gets you into the right menu).
Once you're in your return, you can navigate around as usual.
Click Tax Tools (in the black bar on the left of your screen) and then click select Print Center.
Click Print, save or preview this year's return
TurboTax CD/Download
Go into Forms Mode by clicking on the Forms icon in the top right of the blue bar.
In the Forms in My Return list on the left, click Filing Inst. [It's usually toward the bottom of the list.] The form will appear on the right side of the screen.
You can view the form on the screen or you can print a copy by clicking the Print box at the bottom of the screen.
To return to the interview, click on the Step-By-Step icon in the top right of the blue bar.
April 8, 2025
9:22 AM
1 Cheer
Technically, you don't need to enter the Form 1095-A on your tax return if the associated form 8962 does not need to be filed since you didn't have any advanced premium tax credit listed on your form...
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Technically, you don't need to enter the Form 1095-A on your tax return if the associated form 8962 does not need to be filed since you didn't have any advanced premium tax credit listed on your form in column C. So, you could enter your medical premiums elsewhere in the program, either in the deductions and credits section, K-1 entry section or self-employed income section, as is appropriate.
April 8, 2025
9:21 AM
Please clarify your question.
What is your total income?
Do you have a Schedule C business return?
Do you have multiple W-2s?
Did you post box 6 on all W-2s correctly?
TurboTax does...
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Please clarify your question.
What is your total income?
Do you have a Schedule C business return?
Do you have multiple W-2s?
Did you post box 6 on all W-2s correctly?
TurboTax does not add a Form 8959 for nothing.
Please contact us again to provide some additional details.
April 8, 2025
9:21 AM
If you are hosting promotions and seminars this would not be rental income as it is not passive income, but it would be schedule C self-employment income. You would be able to claim a prorated ...
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If you are hosting promotions and seminars this would not be rental income as it is not passive income, but it would be schedule C self-employment income. You would be able to claim a prorated amount as a maintenance expense for the business compared to personal use. Ex. If you pay $900 for the 90 days, you would be able to deduct (14/90=) 15.6% of the $900 or $140.
You cannot deduct the entire amount only the amount that directly relates to your business.
April 8, 2025
9:21 AM
To review how you set up to have your taxes paid within TurboTax after filing, please review your TurboTax Electronic Filing Instructions Page. Your payment method and account number for your balanc...
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To review how you set up to have your taxes paid within TurboTax after filing, please review your TurboTax Electronic Filing Instructions Page. Your payment method and account number for your balance due will be documented on this instruction sheet.
In TurboTax Online, follow these steps to print/view your TurboTax Electronic Filing Instructions Page:
Sign in to TurboTax
Scroll down to Your Tax Returns & Documents
Select 2024 and then Add a State (You aren't actually adding a State but this gets you back into the Print Center)
From the left panel Select Tax Tools, scroll down a little and select Print Center
Select Print, save or preview this year's return
Select the 2024 Federal and/or State return box
Choose to Include government worksheets
Select View or Print Forms
@SCmom2
April 8, 2025
9:21 AM
Thank you for looking at that @DanaB (update below) I'm confused... I have (2) inherited accounts, one Roth, one IRA The Inherited IRA 1099 is entered first. The TT wizard asks for "amount th...
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Thank you for looking at that @DanaB (update below) I'm confused... I have (2) inherited accounts, one Roth, one IRA The Inherited IRA 1099 is entered first. The TT wizard asks for "amount that was required to be distributed by December 31, 2024 from this account". I took the full required RMD and entered same amount as the required amount. (The TT wizards states: Note: Do not include the RMD for other retirement accounts you may have. RMDs for other accounts should be entered separately The Inherited Roth IRA 1099 is entered second. The TT wizard never asks for the required RMD amount for the inherited Roth IRA. I don't know how/where/why TT is seeing a required RMD amount larger than what is shown as distributed. (I took the full required RMD from the Inherited Roth IRA) -----update ok, mystery solved, I think. Thank you for your help @DanaB ! Your comments helped me figure it out. The entry wizard doesn't ask for the required RMD amount (on the inherited Roth IRA). I re-entered the 1099s and there was no penalty this time. Upon doing return review, TT picks up the error (amount of required RMD missing) and asks for the required RMD amount. Not realizing it was specificallly asking for the required RMD amount just for the inherited Roth, I was erroneously entering the amount for the other. (scrolling down the inset window of the form helped clarify/confirm) So, I think it is all correct now. Thanks for your help, would not have figured it out without your input. Hope this maybe helps anyone else with similar issue.
April 8, 2025
9:20 AM
It Turbotax does not understand the add / remove liquidity to uniswap. For example suppose I am adding liquidity to uniswap eth/usdc pool. Turbotax thinks I am withdrawing ETH and USDC from my wallet ...
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It Turbotax does not understand the add / remove liquidity to uniswap. For example suppose I am adding liquidity to uniswap eth/usdc pool. Turbotax thinks I am withdrawing ETH and USDC from my wallet and depositing "empty token symbol" which is the eth-usdc erc20 uniswap V2 token that provides you the stake to eth-usdc pool. Now if you contributed to another pool say eth-usdat, turbotax again thinks it is the "empty token symbol". Then it tries to account for "empty token symbol" transactions which does not match because they are different tokens. Therefore turbotax comes up with error like I have withdrawn more than I deposited into ""empty token symbol". Have anybody come across any idea to fix this? It would be a nightmare to explain to IRS if audited.
April 8, 2025
9:20 AM
If you have not registered, paid or e-filed you can clear and start over in a lower version of the software.
CLEAR AND START OVER
https://ttlc.intuit.com/turbotax-support/en-us/help-article/c...
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If you have not registered, paid or e-filed you can clear and start over in a lower version of the software.
CLEAR AND START OVER
https://ttlc.intuit.com/turbotax-support/en-us/help-article/change-service-level/clear-start-turbotax-online/L37BZFuBV_US_en_US?uid=m6b26ost
https://turbotax.intuit.com/personal-taxes/online/free-edition.jsp
https://ttlc.intuit.com/turbotax-support/en-us/help-article/change-service-level/downgrade-lower-priced-version-turbotax-online/L2IDaMvkt_US_en_US?uid=m5ydiw67
If you started in the Free Edition and entered any data that required any extra forms or schedules, you have to upgrade to a paid version and if you are watching the screens carefully you are alerted to the upgrade.
TurboTax Online: Important Details about Filing Simple Form 1040 Returns
If you have a simple Form 1040 return only (no forms or schedules except as needed to claim the Earned Income Tax Credit, Child Tax Credit or student loan interest), you can file for free yourself with TurboTax Free Edition, or you can file with TurboTax Live Assisted Basic at the listed price. Roughly 37% of taxpayers are eligible.
Examples of situations included in a simple Form 1040 return (assuming no added tax complexity):
W-2 income
Interest, dividends or original issue discounts (1099-INT/1099-DIV/1099-OID) that don’t require filing a Schedule B
IRS standard deduction
Earned Income Tax Credit (EITC)
Child Tax Credit (CTC)
Student loan interest deduction
Taxable qualified retirement plan distributions
Examples of situations not included in a simple Form 1040 return:
Itemized deductions claimed on Schedule A, like charitable contributions, medical expenses, mortgage interest and state and local tax deductions
Unemployment income reported on a 1099-G
Business or 1099-NEC income (often reported by those who are self-employed, gig workers or freelancers)
Stock sales (including crypto investments)
Income from rental property or property sales
Credits, deductions and income reported on other forms or schedules
1095A for marketplace health insurance
How can I see my TurboTax fees?
https://ttlc.intuit.com/turbotax-support/en-us/help-article/intuit-account-billing/review-fees-turbotax-online/L1XnIzgzg_US_en_US?uid=m682vq7k
If your TurboTax fees are higher than expected, you can reduce them by removing add-ons (BEFORE you e-file) :
Remove Premium Services
Remove MAX Defend & Restore
Remove a state
Remove PLUS Help & Support
Remove Pay With Your Refund
Or—-Use this IRS site for other ways to file for free. There are 8 free software versions available from the IRS Free File site
https://apps.irs.gov/app/freeFile/
Or—if you live in certain states you may be eligible to use the new IRS Direct File
In Filing Season 2025, Direct File will be available in Alaska, Arizona, California, Connecticut, Florida, Idaho, Kansas, Maine, Maryland, Massachusetts, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Oregon, Pennsylvania, South Dakota, Tennessee, Texas, Washington, Wisconsin, and Wyoming.
https://directfile.irs.gov/
https://home.treasury.gov/news/press-releases/jy2629
April 8, 2025
9:19 AM
What do I enter into Turbo Tax for the missed RMD?
Topics: