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Retirement income
I entered the profit sharing amount as Profit Sharing Keogh. Turbo Tax worksheet counted the amount twice as Profit Sharing Keogh and employer matching contribution to individual's 401K. How do I corr... See more...
I entered the profit sharing amount as Profit Sharing Keogh. Turbo Tax worksheet counted the amount twice as Profit Sharing Keogh and employer matching contribution to individual's 401K. How do I correct the double counting?
Q.  So, does this change how I answer the questions for the state taxes section in TurboTax? A. Yes. You did earn income in IL.    Q. When starting the state portion, do I need to show $0 for a... See more...
Q.  So, does this change how I answer the questions for the state taxes section in TurboTax? A. Yes. You did earn income in IL.    Q. When starting the state portion, do I need to show $0 for amount earned in IL in order to get a refund?  A. Yes     If you are a resident of Iowa, Kentucky, Michigan, or Wisconsin who worked in Illinois, you must file Form IL-1040 and  Schedule NR if: you received income in Illinois from sources other than wages, salaries, tips, and commissions (you must pay tax on this income regardless of residency) or you want a refund of any Illinois Income Tax withheld.  
Continue the 2023 tax return that you need to amend - Click on Federal Taxes (Personal using Home & Business) Click on Other Tax Situations Under Other Tax Forms On Amend a return, click on t... See more...
Continue the 2023 tax return that you need to amend - Click on Federal Taxes (Personal using Home & Business) Click on Other Tax Situations Under Other Tax Forms On Amend a return, click on the start button
If you are itemizing medical expenses on Schedule A, when entering your medical expenses under Deductions & Credits you must include those paid with distributions from the HSA.  TurboTax automaticall... See more...
If you are itemizing medical expenses on Schedule A, when entering your medical expenses under Deductions & Credits you must include those paid with distributions from the HSA.  TurboTax automatically subtracts the amount paid with distributions from an HSA and then puts only the remainder on Schedule A.
TurboTax realized that he did not have HDHP coverage in 2024. However, when you answered "Self" to the question of "What type of High Deductible Health Plan did [name] have on December 1, 2023?", the... See more...
TurboTax realized that he did not have HDHP coverage in 2024. However, when you answered "Self" to the question of "What type of High Deductible Health Plan did [name] have on December 1, 2023?", then TurboTax thought that he had HDHP coverage in 2023 but not in 2024, so the coverage seemed to have lapsed.   In point of fact, since the IRS considers that taxpayers who have conflicting coverage (like Medicare) do not have HDHP coverage (even when they do), then you should have answered NONE to that December 1, 2023 question.   This would prevent the lapse message. 
If the rent income on my 1099-misc covers a term of multiple years, can I spread the income over the term of the lease? If yes, how do I enter this in turbo tax since it asks for the amount in box 1 ... See more...
If the rent income on my 1099-misc covers a term of multiple years, can I spread the income over the term of the lease? If yes, how do I enter this in turbo tax since it asks for the amount in box 1 of the 1099?
Turbo impôt expert en ligne :  déclaration année 2024:  j'ai coché tout en FRANCAIS,  je suis pres que qu'à la fin et au moment du CENTRE DE CLASSEMENT il y a Apercu pour le Québec et RCA, ET LE TÉ... See more...
Turbo impôt expert en ligne :  déclaration année 2024:  j'ai coché tout en FRANCAIS,  je suis pres que qu'à la fin et au moment du CENTRE DE CLASSEMENT il y a Apercu pour le Québec et RCA, ET LE TÉLÉCHARGEMENT EST EN ANGLAIS. je suis exaspérée.  aussi, je veux aller dans les paramètres de mon compte: en Anglais. au secours!
@thomas-zornig , assuming that you a US person ( citizen/GreenCard/Resident for Tax Purposes ) , per your post and assuming that the country you are from has a Tax Treaty with the US in effect ( plus... See more...
@thomas-zornig , assuming that you a US person ( citizen/GreenCard/Resident for Tax Purposes ) , per your post and assuming that the country you are from has a Tax Treaty with the US in effect ( plus  a mitigation of double taxation clause ), you report any interest and dividend income just as if you had a 1099-INT  or 1099-DIV.  Thus  under  Wages & Income tab, you select "I will choose what I work on ".    TurboTax will then show you a list of different income types.  Here you choose  the box/brick that says  Interest.  You fill out  the required info --- Name of the entity distributing the income,   ( no EIN ) and the amount of income.  For dividend income  -- generally the same except that it will ask if there were any qualified dividend.  Generally Foreign dividends are not qualified ( but look at this   -- I cannot find this off hand but I know there is a list of entities and countries where the dividend can be qualified --- please  check your dividend source ).   When you are all done with the income section,  go to the "Deductions and Credits " tab.  Select again " I will choose what I work on" and from the list of  items ( Deductions and credits ) select "Foreign Tax Credit.  TurboTax will help you fill out the form 1116 ( Foreign Tax Credit ) once you choose "credit" instead of "deduction". You will have to choose "Passive Category" for the form 1116 .  Your foreign source income  is the sum of the  interest / dividends etc. income per US tax laws.  Your  foreign Tax is  what you paid to the  foreign country.   Note that while the US will recognize all the taxes you paid  , the allowable  foreign tax credit for the year will be  the lesser of  what you actually paid and  that imposed by the US ( US uses a ratiometric allocation based on the ratio of Foreign source income to your world income ).   Does this answer your query ?    Is there more I can do for you ?    
I’m trying to fix my line d withholding. I’m dividing the amount by 4 and entering it in the form but I’m stuck in an error loop. Can someone assist?
No, you would enter it as a T4A. They are two different slips.  
This is still an issue. Moved from OR to WA and no longer live in an apartment. It won’t let me move forward without an apartment number. Just going to put n/a in the apartment field and hope for the... See more...
This is still an issue. Moved from OR to WA and no longer live in an apartment. It won’t let me move forward without an apartment number. Just going to put n/a in the apartment field and hope for the best
You can buy TurboTax products for previous years here: File past years' taxes  
Okay, in desperation, I deleted the LTC-receiving person and started over.  Exact same answers entered as I did the first time, but this time the Reimbursed option appeared.  There is definitely a bu... See more...
Okay, in desperation, I deleted the LTC-receiving person and started over.  Exact same answers entered as I did the first time, but this time the Reimbursed option appeared.  There is definitely a bug in TurboTax on this issue of entering a 1099 for long-term care.  Advice:  Delete the person(s) and start over on the LTC section.  
Best way is to import your 1099-INT from your bank using your Turbo Tax account, uploaded from your PC if on hard drive or enter it manually.  
You must report your wife's income on the Rhode Island return and claim the credit for taxes paid to another jurisdiction.  
If the income is less than $1,300 no return has to be filed. If more, the child has to file their own return. You can’t report that income on your return in any case. 
To enter disallowed wash information follow steps below (see step 8 below) Open or continue your return. Go to wash sales. Answer Yes to Did you have investment income in 2024? If ... See more...
To enter disallowed wash information follow steps below (see step 8 below) Open or continue your return. Go to wash sales. Answer Yes to Did you have investment income in 2024? If you land on Let’s finish pulling in your investment income, select Add investments. On the OK, let's start with one investment type screen, select Stock, Bonds, Mutual Funds. Then select Continue. From here, you can import or manually enter your 1099-B. Answer the questions about your sales. Choose to enter sales One by one when asked. On the Now, enter one sale on your 1099-B screen, enter your info. Check I have other boxes on my 1099-B to enter and enter the wash sale loss disallowed in box 1g. Select Continue and answer any follow-up questions.
No, this should be a capital loss. Enter under Investment Sales >> Other (no broker, enter yourself). The result should be a Long-Term capital loss, as described previously.   See: Where do I ent... See more...
No, this should be a capital loss. Enter under Investment Sales >> Other (no broker, enter yourself). The result should be a Long-Term capital loss, as described previously.   See: Where do I enter a capital gain or loss?