turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

All Posts

No, you don't need to amend.  You should only have the 2 1099-Rs entered.   If you did not receive a distribution from the 3rd IRA, no form would have been received or reported.   You took your full ... See more...
No, you don't need to amend.  You should only have the 2 1099-Rs entered.   If you did not receive a distribution from the 3rd IRA, no form would have been received or reported.   You took your full RMD, so as long as you were not penalized for not taking the RMD, you are fine to leave your return as is.   
I failed to file my 1099B on my 2022 tax return. Can I file that now using Turbo Tax?  
Thank you for the explanation and all your help! I really appreciate it. So, I'll only amend the Federal tax. Can you please help me with some final questions?   1) I assume that filing an amendme... See more...
Thank you for the explanation and all your help! I really appreciate it. So, I'll only amend the Federal tax. Can you please help me with some final questions?   1) I assume that filing an amendment to change my status from resident to nonresident for tax purposes can be a complicated process. Do you have any final advice or tips for going through it? 2) Would this amendment impact negatively any of my future tax filings? 3) In my case, I received a refund this year with my current forms. However, I'd have to receive an additional refund because I reported interest income from savings accounts, which I understand shouldn't be reported as a nonresident for tax purposes. Since I already received a refund this year, would I need to return it before applying for a larger refund? 3) Do you know how long it typically takes the IRS to review an amended return? In my case, since I overpaid in taxes, would Sprintax be sufficient to file the amendment, or should I consider hiring a tax expert instead? 4) To confirm, I can file an amendment at any time of the year, right? 5) Would I need to do something else with the forms I already filed this year? Or would it be enough to just follow the process Sprintax suggests? 
That still doesn't help me because it says $3000. or less and I repaid $7488.
Follow the instructions below to prepare your amendment using TurboTax Online:   Open TurboTax. Scroll down to Your tax returns & documents and select 2024 for the year you want to amend. ... See more...
Follow the instructions below to prepare your amendment using TurboTax Online:   Open TurboTax. Scroll down to Your tax returns & documents and select 2024 for the year you want to amend. Select Amend (change) return, then Amend using TurboTax Online. On the screen OK, let's get a kickstart on your 2024 amended return, select the reason. On the next screen, select Something Else and Continue. On the screen Tell us which 2024 return(s) you want to amend, select 2024 Federal or State. TurboTax will guide you through the screens to prepare your amendment. For further information review the TurboTax articles: and Video: How to Amend Your Tax Return. For more information and instructions, review the TurboTax articles  How to Correct Federal Tax Returns, How to File an Amended Tax Return with the IRS and  Video: How to Amend Your Tax Return.  
We are residents of NJ. My child is a college student in CA. Every year, he spends 11 months on campus in CA, and only 1 month elsewhere (NJ, NY, other states). Should he file as NJ resident and CA n... See more...
We are residents of NJ. My child is a college student in CA. Every year, he spends 11 months on campus in CA, and only 1 month elsewhere (NJ, NY, other states). Should he file as NJ resident and CA non-resident, or as CA resident and NJ non-resident?
Here's how you can check: How to Check your E-file Status   You can also check the IRS Where's My Amended Refund.   You will need to contact the IRS for information. It might be easiest to set up... See more...
Here's how you can check: How to Check your E-file Status   You can also check the IRS Where's My Amended Refund.   You will need to contact the IRS for information. It might be easiest to set up an account with them.   IRS Individual Online Account   Taxpayers with a Social Security number or an Individual Taxpayer Identification Number can create or access their IRS Individual Online Account to get information they need to file their return. With an IRS Individual Online Account, people can: View balance owed, payment history and schedule payments. Cancel scheduled payments. Get transcripts. View or create payment plans. See digital copies of some IRS notices. View key data from their most recently filed tax return, including adjusted gross income. Validate bank accounts and save multiple accounts, eliminating the need to re-enter bank account information every time they make a payment. View, approve and electronically sign power of attorney and tax information authorizations from their tax professional. 
Yes, if you are eligible to make a deductible Traditional IRA contribution, then your taxable income can be reduced.     However, there are income limits that are applied to determine whether you... See more...
Yes, if you are eligible to make a deductible Traditional IRA contribution, then your taxable income can be reduced.     However, there are income limits that are applied to determine whether you are eligible to deduct your Traditional IRA contributions.  See the following TurboTax help article to learn more:   Is an IRA contribution deductible?   Also, making a non-deductible Traditional IRA or Roth IRA contribution will not reduce your taxable income.  
It depends on the type of rental property you sold. Section 1245 assets are depreciable personal property (furniture, equipment, etc.)  or amortizable Section 197 intangibles; Section 1250 assets are... See more...
It depends on the type of rental property you sold. Section 1245 assets are depreciable personal property (furniture, equipment, etc.)  or amortizable Section 197 intangibles; Section 1250 assets are real property, whether depreciable or not. Either one of these provisions may result in capital gains and/or ordinary income (including depreciation recapture).   Also note that Section 1250 applies to assets that are not and have never been Section 1245 property. If you converted a rental from personal use, this would cause the sale to be subject to Section 1245.
I checked State return on line 30 Medical Expenses there’s nothing there it’s blank 
I discovered that some amounts I listed on schedule E were incorrect.     What do I do to correct this.    My returns have been submitted and my refund has been received.    
It was withdrawn today and balance got cleared   thanks tom
 I converted IRA to Roth at the END of the Year (Dec) and paid the taxes owed fully. Yet it appears that Turbo Tax does not ask when the conversion was done but calculates BACK taxes owed for each q... See more...
 I converted IRA to Roth at the END of the Year (Dec) and paid the taxes owed fully. Yet it appears that Turbo Tax does not ask when the conversion was done but calculates BACK taxes owed for each quarter of the year with a penalty for underpayment of taxes.  Spreads it across the year. This does not seem right.  One does not know until later in the year if one should do conversions… so why the back owed taxes? .. Turbo Tax should ask when the conversion was done and calculate taxes due accordingly.  Thx.
No, they are not removed when you select standard deduction on the federal return.  The medical expenses are ignored on your federal return if you are using the standard deduction.  But they are stil... See more...
No, they are not removed when you select standard deduction on the federal return.  The medical expenses are ignored on your federal return if you are using the standard deduction.  But they are still available to use on your state return if your state allows using a different deduction.  Some states allow you to change, some don't.   The expenses are entered on your federal return and transferred to your state return(s).   If your medical deduction was not included on your NJ, you can amend to add the deduction.     NJ doesn't have a standard deduction or itemize deductions.   New Jersey law provides several gross income tax deductions that can be taken on the New Jersey Income Tax return. New Jersey does not allow federal deductions, such as mortgage interest, employee business expenses, and IRA and Keogh Plan contributions.      On your NJ return, you can deduct from your gross income certain medical expenses that you paid during the year for yourself, your spouse or domestic partner, and your dependents. However, you cannot deduct expenses for which you were reimbursed. Only expenses that exceed 2% of your income can be deducted.   See NJ Exemptions & Deductions
i bought Turbo Tax Home & Business 2024 app but not able to find T5018.   please help and thankyou 
I have three IRA's and had distributions from two of them that equaled the total amount of the required RMD. I received 1099-R's for the two from which distributions were made, but did not receive on... See more...
I have three IRA's and had distributions from two of them that equaled the total amount of the required RMD. I received 1099-R's for the two from which distributions were made, but did not receive one for the third (from which no distribution was made).  I've tried to reflect the total RMD form 5498's for all three IRA's but cannot get the software to work. Do I need to prepare an amended return to show all three IRA's or stick with the original filing which reflects the two from which distributions were made?
I have both Roth and Traditional IRAs. I was advised that I could make a contribution to my IRA by April 15 and it would reduce my taxable income. But when I filed 2024 using TurboTax, the system wou... See more...
I have both Roth and Traditional IRAs. I was advised that I could make a contribution to my IRA by April 15 and it would reduce my taxable income. But when I filed 2024 using TurboTax, the system wouldn't alow it. Is it true that contributions to an individual retirement account reduce the amount of taxable income? I was really counting on that, but ended up owing federal income tax.   Thank you 
So the miscellaneous expense would be $50k after adjusting the BOY and EOY inventory?
The calculated penalty may have had to do with the timeliness of your estimated payments?  Did you make some of them late or make all of them in the last part of the year?  Or pay a bunch with an ext... See more...
The calculated penalty may have had to do with the timeliness of your estimated payments?  Did you make some of them late or make all of them in the last part of the year?  Or pay a bunch with an extension?   @gomes_f