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I assume you are referring to lines 4b and 5b on Form 1040. The worksheet for both lines is the Form 1099-R Summary. The amounts on the Form 1099-R Summary are totals of amounts on the individual 1099-R forms. If you are using the desktop TurboTax software you can see the Form 1099-R Summary in forms mode. It does not appear in the list of "Forms in My Return" on the left side. You can open it using Open Form, or right-click the amount on either line in the "Form 1040 or Form 1040-SR Worksheet," then click Data Source. If you are using TurboTax Online, I believe the Form 1099-R Summary will be included in a PDF of the tax return that you create with the option to "Include government and TurboTax worksheets." If you are asking about lines 4b and 5b on a different form, what form is it?  

@rjs wrote: Although the Net Investment Income Tax (NIIT) was created by the Affordable Care Act, it is not, and never was, earmarked for Obamacare, Medicaid, or Medicare. It goes into the federal government's general funds, just like the regular income tax.   Of course, but it was part of finding the money to pay the cost of ObamaCare.  It was passed by the "reconciliation" process, which as I understand it, is supposed to be revenue-neutral, at least on paper.  To add costs for something else, the bill in question either needs to cut an equal cost somewhere else, or raise an equal amount of new revenue.  

Although the Net Investment Income Tax (NIIT) was created by the Affordable Care Act, it is not, and never was, earmarked for Obamacare, Medicaid, or Medicare. It goes into the federal government's general funds, just like the regular income tax.  

There is not much you can do now to increase the amount of the Lifetime Learning Credit for 2022. The credit is 20% of the student's qualified education expenses, up to a maximum of $10,000 of expenses. In most cases the qualified expenses will just be tuition. You can't change the amount of tuition that was paid in 2022. You might have some "related expenses" that can be added, but that would be unusual. According to IRS Publication 970, "Student activity fees and expenses for course-related books, supplies, and equipment are included in qualified education expenses only if the fees and expenses must be paid to the institution for enrollment or attendance." You didn't say who is claiming the credit, you or the kids. The credit might be reduced if the person claiming it has a Modified Adjusted Gross Income (MAGI) above a certain amount. But there is nothing you can do now to change the 2022 MAGI. You said the kids are your dependents, but you didn't say whether you are actually claiming them as dependents on your 2022 tax return. If you are claiming them as dependents, and you are claiming the Lifetime Learning Credit, and it is limited because of your MAGI, that would present one possible way to manipulate the credit. You could opt to not claim them as dependents, and let them claim the credit on their own tax returns. This would only produce a benefit if your son's or daughter's MAGI is below the amount where the credit is reduced, and they have enough income to benefit from the credit. Of course, by not claiming them as dependents, you would lose the $500 credit for other dependents. You would have to prepare all three tax returns both ways to see if there is a net benefit. You can make the decision separately for each child. This is the only way that you would be able to increase the amount of the Lifetime Learning Credit. I suspect that you will find that it does not produce any benefit.  

@dr-nizami68 wrote: Let me make a correction, the amount is $339 and it appears on Line 12 as "net investment income tax". It's coming from line 17 on form 8960. This is tax owed on profit made in 2024. I thought because I carryover a very large loss from previous years, this amount would zero out and not get added as other tax on line 12. It appears it is a mistake in the system as it should have zero'd out. "Net Investment Tax" is something different.   It was created to help pay for Obamacare and expansion of Medicaid.  It's 3.8% of investments over a certain amount, and can even be applied to all your income once you pass a certain threshold--this is why the top US income tax rate is really 40.8% even though the official top bracket is 37%.  You owe the NET even if your capital gains are otherwise covered by prior losses. https://turbotax.intuit.com/tax-tips/investments-and-taxes/what-is-form-8960-net-investment-income-tax/L15hpJmi9#GoTo-The-tax-explained

@desnyromero06  wrote:  "Received a letter from the state about "eitc" what does it mean?"   EITC means "earned income tax credit."   In about half the states if one qualifies for EITC on their Federal return, they may also be eligible for a similar credit on their state or local income tax return.    If you need help with your state letter in this forum, first name the state, then describe whatever issue the state has concerning EITC.   Someone familiar with your state and state EITC may then comment here.   If you purchased Audit Defense product, that company can also help you with a state letter.   If you did not purchase Audit Defense, you can get free help with a state letter from TurboTax free Audit Support Center.    The phone number for TurboTax Audit Support Center is way down the page at the bottom of the table in this FAQ:   FAQ: TurboTax Audit Support Center https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-audit/turbotax-audit-support/L6AcMoNFD_US_en_US

@ banganr wrote: I am trying to down load all my fidelity investment 1099Rs. I don't seem to be able to do this? Unfortunately it is a holiday. You didn't say where you are trying to download them and where you are having trouble--from Online TurboTax or your Fidelity online account?   Online TurboTax does not have copies of your actual 1099-R's--it only has the information you entered from the 1099-R's (or imported) which it places on a 1099-R Worksheet.  That worksheet should be in the tax return PDF if it is the larger PDF that contains the worksheets.  If you've been using Online TurboTax to prepare your returns, and if your 2024 PDF doesn't include the worksheets, we can tell you another way to get the 2024 return PDF with all the worksheets.    As for prior returns, if you don't know already how to get the PDF for 2023 and other past years, we can tell you how.   However, they may or may not have all the worksheets.   But if you want the actual 1099-R's, it seems to me the easiest and most straightforward place to get copies would be in your online Fidelity account (assuming you have one)--most likely in a section called Documents then Tax Forms.   Or is that what you are trying to do, but hitting a roadblock on the Fidelity account website?   If so, you may have to wait until Fidelity opens for customer service hours.

I am to receive an annuity from my father’s death that lived in Pennsylvania. They will pay it to me and send a 1099-R per their documents. I do not live in Pennsylvania and my state Ca does not have inheritance tax.   My question is. Do I have to pay inheritance tax to Pa on this money and will I also have to pay Ca tax since it will be on a 1099-R as income, or will it be excluded somehow from when it is input in turbo tax.   Also if I have to pay inheritance tax to Pa do I have to File a Pa state return? I will assume that if so; since I do not live in Pa I would not have to pay Income tax there, just the inheritance tax?

If you own the vehicle individually, generally the corporation would have an Accountable Plan with you so you get reimbursed for the business portion.   If the corporation owns the vehicle, the corporation deducts all of the costs, but then the personal portion is added to the wages of the employee using it.   Corporate taxes really are NOT a Do-It-Yourself kind of thing.  You really should be with a good tax professional that does a lot of work with corporations.