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fanfare · ‎April 20, 2025

If you will be taking RMD, tax withholding is mandatory on 401k but optional on IRA and in either case you specify how much. Have sufficient withholding taken from your distribution and you will not...

If you will be taking RMD, tax withholding is mandatory on 401k but optional on IRA and in either case you specify how much. Have sufficient withholding taken from your distribution and you will not have to make estimated tax payments. IRS requires you to estimate your tax. @Little Hawk

mountainlifesoaps · ‎April 20, 2025

My 2024 return has been rejected because of my spouces AGI on our 2023 return, I have corrected it three times and it still comes back rejected even though I put in the correct number from line 11 on ...

My 2024 return has been rejected because of my spouces AGI on our 2023 return, I have corrected it three times and it still comes back rejected even though I put in the correct number from line 11 on our 2023 tax return

fanfare · ‎April 20, 2025

" so total of $7025 was recharacterized. " $7,000 was recharacterized. the original amount to the first IRA you report as contribution to the second IRA, earnings move but that is ignored. Yo...

" so total of $7025 was recharacterized. " $7,000 was recharacterized. the original amount to the first IRA you report as contribution to the second IRA, earnings move but that is ignored. You will get one 1099-R per account showing your total conversion(s) during the year. -- to report a non-deductible contribution, Form 8606 must be attached. OR If your IRA contribution is totally deductible take the deduction and pay tax on the whole conversion. The final tax consequence is the same either way. -- You will get a 1099-R for recharacterization but that can be discarded once you enter the Traditional IRA contribution of $7,000. @Darenl

DoninGA · ‎April 20, 2025

If you are a W-2 employee then none of your employee business expenses are deductible on a federal tax return due to the tax code changes in effect for tax years 2018 thru 2025.

ivanrs01 · ‎April 20, 2025

Hice mi declaracion 2022 por Turbo Tax. Como puedo obtener una copia?

taxlady28 · ‎April 20, 2025

The IRS will contact you to finalize your plan, usually in June. You can make the changes then.

ucanthony · ‎April 20, 2025

Darenl · ‎April 20, 2025

I did some search and understood that TurboTax supports reporting recharacterization and backdoor conversion, but I would like to double check what I did specially is also supported: March 2025: ...

I did some search and understood that TurboTax supports reporting recharacterization and backdoor conversion, but I would like to double check what I did specially is also supported: March 2025: contributed directly $7000 to Roth IRA for year *2025*. April 10 2025: called the custodian for recharacterization into TIRA. At the time of recharacterization there was 25 dollars earnings so total of $7025 was recharacterized. I then converted $7000 on this day to make it backdoor Roth. So that leaves $25 dollars in my TIRA account. 4/16/2025. I then realized that it would have been a mess if I leave the $25 in the TIRA so I converted the remaining $25 to Roth effectively empty out my TIRA. I am assuming I will receive 3 1099R in 2026 for year 2025? is reporting my above recharacterize and conversion supported in TurboTax? Specifically do the two conversions ($7000 first and then another $25) to Roth IRA make reporting complicated in anyway? thank you

xmasbaby0 · ‎April 20, 2025

What mileage are you asking about? Mileage driven for self-employment that goes on a Schedule C with other business expenses? Mileage driven for medical appointments that goes under medical expens...

What mileage are you asking about? Mileage driven for self-employment that goes on a Schedule C with other business expenses? Mileage driven for medical appointments that goes under medical expenses? Mileage driven as a volunteer for a charity that goes under your donations? Mileage driven to the rental properties you own that goes on Schedule E? Wait until your original return has been fully processed before you amend, and make sure you have saved a pdf of the original return before you amend. (If you do not save it as a pdf, the amended return will overwrite the original, and the original will be lost forever) See this TurboTax support FAQ for amending a tax return - CURRENT YEAR https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/amend-federal-tax-return-current-year/L7eS6o1qh_US_en_US?uid=lfunevhk

DoninGA · ‎April 20, 2025

Delete the Form 5405 Click on Tax Tools on the left side of the online program screen Click on Tools Click on Delete a form

js733 · ‎April 20, 2025

I originally had my income only under the FEI (Foreign Earned Income). The IRS said I need to put a Schedule C. I put my income again in the Schedule C, but then Turbotax said I owed Federal and State...

I originally had my income only under the FEI (Foreign Earned Income). The IRS said I need to put a Schedule C. I put my income again in the Schedule C, but then Turbotax said I owed Federal and State taxes, but I have not lived in the USA for 365+ days. I now put $0 for my Schedule C since I made all my money as FEI (all made in a foreign account and already paid taxes in China). Am I supposed to put my actual income into the Schedule C and the Foreign Earned Income and Exclusion parts, or am I supposed to only put the income once in the FEI section?

alexanedubo · ‎April 20, 2025

It did not work. I ended up using a different software because I could not get a hold of anyone for help.

23crazyagnes · ‎April 20, 2025

Form 5405

DoninGA · ‎April 20, 2025

For any type of Form 1098 you will have to contact the issuer of the form to get a copy.

vista123 · ‎April 20, 2025

Tootise63 · ‎April 20, 2025

My husband and I rent but in August will become homeowners. If I complete the New Jersey property tax relief this year should I complete a new one for 2025? Does this need to be completed every...

My husband and I rent but in August will become homeowners. If I complete the New Jersey property tax relief this year should I complete a new one for 2025? Does this need to be completed every year?

SteamTrain · ‎April 20, 2025

@jabrew23 (Assuming you e-filed them together, at the same time...) The state forms do not "Transmit" until the IRS "Accepts" the Federal filing. That's a separate step in the process... fi...

@jabrew23 (Assuming you e-filed them together, at the same time...) The state forms do not "Transmit" until the IRS "Accepts" the Federal filing. That's a separate step in the process... first the Federal file is "Transmitted" to the IRS....then the IRS computers do a cursory check of the Federal data, which can take from ~15min-to-48 hrs (usually), and then the IRS either "Accepts" or "Rejects" the Federal filing. IF the Federal is "accepted" , only then is your state tax file transmitted to the state.....but not if the IRS rejects the Federal filing. Why? IF the Feds "Reject", then something is apparently wrong, and the state doesn't really want to see anything until the Fed part is fully correct. Will the state filing be considered to be late if the IRS takes too long? Usually not a problem...your initial submission date/time is a part of the data being filed...so long as that was before the deadline, then no problem.

DoninGA · ‎April 20, 2025

Once a tax return has been Accepted by the IRS or a State, TurboTax receives no further information concerning the tax return or the status of any tax refund.

Porus · ‎April 20, 2025

How can I verify this with IRS or do I need to go through the Amended return process to get it checked/corrected?

deemarie3413 · ‎April 20, 2025

I had to verify my identity and did so last week, I went to check my transcripts and they state that there is no refund being processed as of this time. I am totally freaking out does this mean they d...

I had to verify my identity and did so last week, I went to check my transcripts and they state that there is no refund being processed as of this time. I am totally freaking out does this mean they do not have a return for me

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Re: Failure to pay quarterly estimated taxes

does it matter that in 2023 my joint tax return was listed as Greig and Staci Madlom and this year I did the taxes and the 2024 return is listed as Staci and Greig Madlom

Re: Recharacterization and backdoor Roth

Re: What should emplyee hotel room costs be listed as for a construction company

Como puedo obtener una copia de mi declaracion 2022? La hice por turbo tax.

Re: I don't see my 2024 balance in my IRS account. I requested a 6 month extension which was auto-approved but still shows as pending. Is it possible to change to a 12 month?

What should emplyee hotel room costs be listed as for a construction company

Recharacterization and backdoor Roth

Re: How do I file an amendment

Re: I am trying to change my answer about the first time home buyer credit but my answer is not being saved.

I have been in China for 365 days. I submitted my FEI. The IRS asked me for a Schedule C. If I put it, it says I owe $. Do I put income in FEI and put $0 for Schedule C?

Re: Hmm, looks like we hit a slight snag in this section

I am trying to change my answer about the first time home buyer credit but my answer is not being saved.

Re: How do I get a copy of my 2023 1098

How do I get a copy of my 2023 1098

2024 Form PAS-1

Re: my federal return transmitted, but my state return did not?

Re: How often does TurboTax actually fucking update their shit?

I am seeing 807 reduced or removed w2 or 1099 withholding in the IRS Transcripts. My employer says taxes are paid for the year. I need to know the reason behind this.

when your transcripts say that the return is not found or processed whjat does this mean

Do you have a TurboTax Online account?

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