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April 8, 2025
5:28 AM
It seems you said "Yes" on the "Did You Change Your Mind?" screen (step 4 in TurboTax Online and step 9 in TurboTax Desktop) since you are getting the "How much of the $7000 you contributed to a trad...
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It seems you said "Yes" on the "Did You Change Your Mind?" screen (step 4 in TurboTax Online and step 9 in TurboTax Desktop) since you are getting the "How much of the $7000 you contributed to a traditional IRA for 2024 did you switch or "recharacterize" to a Roth IRA" question. Please don't enter anything on this screen (leave it blank) since you did not make a recharacterization.
Please see What are IRA conversions and recharacterizations? for additional information.
April 8, 2025
5:26 AM
1 Cheer
You will need a previous year depreciation schedule or report that shows how each asset was set up for depreciation as well as the amount of depreciation that has already been taken. Then, in TurboT...
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You will need a previous year depreciation schedule or report that shows how each asset was set up for depreciation as well as the amount of depreciation that has already been taken. Then, in TurboTax, when you are entering information in the Rental Income and Expenses section you will Add Assets.
When you are entering depreciation information into TurboTax, the program may somewhat restrict the choices you can make in order to guide you to entering something that is correct by the tax law. Trying to enter the information to match prior depreciation information can be tricky.
Here is a guide for how to go about entering depreciation into TurboTax in order to duplicate the entries that have been made on previous returns to continue the same depreciation.
Start from the Schedule C or Schedule E section of your return until you get to the Assets/Depreciation section.
Proceed to the point where you are adding an asset on the page titled Describe This Asset.
In order to enter the asset exactly as it has been reported in the past, choose the last option on the list, Intangibles, Other Property, then click Continue.
On the next page titled, Tell Us a Little More, select Other asset type, then click Continue.
Enter the detailed information about the asset: description, cost, date purchased or acquired. Click Continue.
Move forward with additional details on the next screen, then click Continue.
Select the appropriate Asset Class, then click Continue.
Choose the MACRS Convention, then click Continue.
Select the Depreciation Method, then click Continue.
Answer the question regarding Listed Property, then click Continue. There may be some additional background questions as well, keep going.
You will eventually come to a screen to confirm the Prior Depreciation, enter the data and click Continue.
Finally, you will see an Asset Summary screen with the current year depreciation amount listed. There is also a check-box here to Show Details. This will open a full description for the asset so you can verify that it matches the previously reported information. If it does not, you can choose to go Back and re-enter the data that needs to be changed.
April 8, 2025
5:25 AM
There is nothing that needs fixing. The IRS requires these to appear on Form 1041 line 8. Simply enter the taxable amount of these distributions as Other income so that TurboTax will place it on li...
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There is nothing that needs fixing. The IRS requires these to appear on Form 1041 line 8. Simply enter the taxable amount of these distributions as Other income so that TurboTax will place it on line 8 of Form 1041.
April 8, 2025
5:25 AM
I’m talking about state tax
April 8, 2025
5:24 AM
You can login at a friends home or a library using your ID and Password.
You can then print the return.
April 8, 2025
5:24 AM
i have 3 brokerage accounts where i have received foreign dividends with tax withheld. TT asks me to list the countries which i did. Then TT asks for the foreign tax withheld BY BROKERAGE ACCOUNT....
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i have 3 brokerage accounts where i have received foreign dividends with tax withheld. TT asks me to list the countries which i did. Then TT asks for the foreign tax withheld BY BROKERAGE ACCOUNT. However, after fill in the first brokerage it does not let me insert for the same country a different brokerage account. i believe that it is important to list by country not by brokerage account. What should i do if TT does not let me enter totals by country?
April 8, 2025
5:23 AM
@DanaB27 , I'm sorry I missed your message. Yes, at the end of entering our 1099-R's, Turbo tax asks: Tell us the value of your (both mine and spouse) traditional IRA Enter the total value of your...
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@DanaB27 , I'm sorry I missed your message. Yes, at the end of entering our 1099-R's, Turbo tax asks: Tell us the value of your (both mine and spouse) traditional IRA Enter the total value of your traditional IRA, SEP, and SIMPLE IRA accounts on December 31, 2024. This information is sent by mail on form 5498. Do not include ROTH IRA's. I think this question applies to our traditional IRAs' year end balance, not our 401/403's through work, correct? The only withdrawals we had were ROTH conversions, and a total distribution from an inherited IRA, but we did conversions in prior years as well. We did not have nondeductible contributions. I don't recall going through this turmoil last year, hope I didn't miss something. Thanks for taking the time to reply, I appreciate your help!
April 8, 2025
5:22 AM
While the Turbtax states "Principal Residence Address
Only complete this section if you are 18 or older and you have filed a California resident income tax return in the prior year.
• If your principa...
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While the Turbtax states "Principal Residence Address
Only complete this section if you are 18 or older and you have filed a California resident income tax return in the prior year.
• If your principal/physical residence address at the time of filing is the same as the address you provided at the top of this form, check the box provided on this line.
• If your principal/physical residence address at the time of filing is different from the address at the top of this form, provide the address of your principal/physical residence in the spaces provided.
• If you reside in a foreign country at the time of filing, enter the city, province or state, and country in the city field. Follow the country's practice for entering the postal code. Do not abbreviate the country name.
If you are under 18 years old or have not filed a California resident income tax return in the prior year, then leave the county and principal/physical address fields blank." It won't let me type a foreign address.
April 8, 2025
5:22 AM
It depends. What state are you in?
April 8, 2025
5:21 AM
Assuming you're using TurboTax Self-Employed or TurboTax Home & Business, are you entering directly on the business income or under personal income and linking the 1099-NEC to the business?
If you...
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Assuming you're using TurboTax Self-Employed or TurboTax Home & Business, are you entering directly on the business income or under personal income and linking the 1099-NEC to the business?
If you are linking it, trying entering it directly.
The income needs to get on your schedule C line 1b, but the 1099-NEC form itself is not duplicated on your 1040.
April 8, 2025
5:20 AM
Yes. If this is the first time that you are filling a tax return by yourself, you can put "0" as the AGI.
How do I find last year's AGI?
April 8, 2025
5:20 AM
Once you submit your return in TurboTax Online, we no longer have control of the return.
You can track your refund by Checking your State Refund.
April 8, 2025
5:20 AM
The refund advance program ended at the end of February.
April 8, 2025
5:20 AM
I don't understand what might be considered eligible for a deduction. I did receive a pension (non military) - is all of that $ deductible?
Topics:
April 8, 2025
5:20 AM
If you'd like, we can look at your return and see exactly what you see to help come to a resolution. The return will be scrubbed and won't include any of your personal details.
If you're using ...
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If you'd like, we can look at your return and see exactly what you see to help come to a resolution. The return will be scrubbed and won't include any of your personal details.
If you're using TurboTax Online:
Once you're logged in to your account and have your amended return open,
- on the left hand panel, click on Tax Tools and then choose Tools
- on the pop up window, select Share my file with Agent
- you'll see a message saying you'll give us a copy of your tax return. Your personal information will be changed so we can't see any private information.
- click okay and you'll get another message with a token
If you're using TurboTax Desktop:
Click on Online in the top menu of TurboTax Desktop for Windows
Select 'Send Tax File to Agent'
Write down or send an image of your token number and state then place in this issue.
We can then review your exact scenario for a solution
Please reply to this message with your token so that we can further assist you. Let us know all other states that are included on the return.
April 8, 2025
5:20 AM
Yes, I would like to amend my tax return for this year that I’ve already filed Turbo tax
April 8, 2025
5:19 AM
For a nonqualified Roth IRA distribution, it's your responsibility to differentiate between nontaxable an taxable amounts by preparing Form 8606 Part III. TurboTax prepares Part III based on the gro...
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For a nonqualified Roth IRA distribution, it's your responsibility to differentiate between nontaxable an taxable amounts by preparing Form 8606 Part III. TurboTax prepares Part III based on the gross amount of the distribution reported in box 1 of the code-J Form 1099-R and your entries of your Roth IRA contribution and conversion basis. Be sure to click the Continue button on the page that lists the Forms 1099-R that you have entered and, when asked, enter your basis information.
April 8, 2025
5:17 AM
1 Cheer
If you could send a diagnostic file prior to deleting the form, that would be appreciated.
I would like to take a deeper look at this. However, I need a diagnostic file which is a copy of your...
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If you could send a diagnostic file prior to deleting the form, that would be appreciated.
I would like to take a deeper look at this. However, I need a diagnostic file which is a copy of your tax return that has all of your personal information removed. You can send one to us by following the directions below:
TurboTax Online:
Sign into your online account.
Locate the Tax Tools on the left-hand side of the screen.
A drop-down will appear. Select Tools
On the pop-up screen, click on “Share my file with agent.”
This will generate a message that a diagnostic file gets sanitized and transmitted to us.
Please provide the Token Number that was generated in the response.
TurboTax Desktop/Download Versions:
Open your return.
Click the Online tab in the black bar across the top of TurboTax and select “Send Tax File to Agent” *
This will generate a message that a diagnostic copy will be created. Click on OK and the tax file will be sanitized and transmitted to us.
Please provide the Token Number (including the dash) that was generated in the response.
*(If using a MAC, go to the menu at the top of the screen, select Help, then, “Send Tax File to Agent”) @bikyash
April 8, 2025
5:17 AM
On your 2023 tax return, your AGI is on line 11 of the Form 1040.
You can forgo E-Filling and Mail the return.
Or, If you do not have a copy of your tax return, you can get your AGI from ...
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On your 2023 tax return, your AGI is on line 11 of the Form 1040.
You can forgo E-Filling and Mail the return.
Or, If you do not have a copy of your tax return, you can get your AGI from one of the IRS self-service tools:
Use your online account to immediately view your AGI on the Tax Records tab. If you're a new user, have your photo identification ready.
Use Get Transcript by Mail. You can also request a transcript by mail by calling our automated phone transcript service at 800-908-9946. Please allow 5 to 10 days for delivery.
If you need more time, you can file for an extension with TurboTax.
See TurboTax Desktop in How do I file an IRS tax extension?
Remember, an extension gives you more time to prepare your taxes, but it does NOT extend the time to pay your taxes.
If you have an indication that you will owe taxes, you should make the payment to avoid additional interest and penalties
This will give you until 15 October 2025 to file your taxes.
You can also file a Free federal tax extension here
You may have to do your state extension
Do I need to file an extension for my personal state taxes?
If you owe taxes, you must pay by April 15th.
To file for extension in the TurboTax program
On the menu bar on the left that shows.
Select Tax Tools
On the drop-down select Tools
There will be 4 green boxes
Select Tax Topics
Type Extension
You can start the extension process
April 8, 2025
5:15 AM
When you say you are having trouble making a payment, can you clarify? Are you trying to do this through TurboTax and it won't go through? Or doing it through the IRS website? Or you need to set u...
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When you say you are having trouble making a payment, can you clarify? Are you trying to do this through TurboTax and it won't go through? Or doing it through the IRS website? Or you need to set up a payment plan? If so, you can apply for a payment plan from the IRS
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