All Posts

If there are no state taxes being withheld from your income reported on Form W-2, boxes 15 through 17 are usually left blank (empty) on the Form W-2.   To work around a  state ID number, you can try to enter the Federal ID Number as a "replacement" for State ID number.    If the field asks you for a state ID number in a specific "state require" format, such as "6 numbers followed by two letters"  you can enter a value that fits that format, in order to complete your return and e-file.

Enter at Educational Expenses and Scholarships, under Deductions and credits (not at the 1099-MISC screen in the income section).   If you  have a 1098-T, one of the follow-up questions will be do you have any scholarships not shown on the 1098-T.  Enter the additional scholarship there.  

Each Review section may be different depending on what items the program has identified that the user needs to change or complete.   You should be able to go back and revisit any section in the program all the way up until just BEFORE you press the button to e-file your return.   If you are referring to the decline/accept answer to the the "Do more with your data" and "Share your data with Intuit" questions, you have the option to send an email to privacy@intuit.com and mention that you'd like to change your “consent for use of tax return information" if that is the case. Or, you could see this help article and this one for instructions on how to contact TurboTax customer support depending on which product you are using.  

@rlwalkeriii  wrote:  " I have submitted my 2024 taxes. Can I still complete estimated taxes for 2025? Is so how?"   Yes,  you can.   I'll assume you mean you want to through the estimated taxes interview and prepare 2025 vouchers.    This is the method in Online TurboTax.   If you recently efiled, wait until your efiled return has been accepted.   NOTE:   When you open your return back up, do not make any changes in it, since it has already been filed.   If you ever need to prepare an amended return, it has to start off exactly as originally filed.   To open the interview go to the Tax Home and click on "Add a State."  That doesn't really add one but will open the interview back up. When the return is open, go to TAX TOOLS, then subtab TOOLS. In the Tools Center click on blue button Topic Search. In the Topic Search line enter 1040-es without quotes, make the selection 1040-es from the list, and click GO. Next screen will ask about W-4 and if you want to make changes to it.  Yes or no. If no (or following the W-4 interview if you went that route), the next screen is:  "Review your estimates?  Want to review your income and deductions?"  Yes or no. At the end of that interview it should say if it is preparing vouchers to print, if desired.

I am still looking for the answer to the question in this string about depreciation on a new roof installed on a rental house. There doesn't seem to be an option to add a roof in the asset section. It only has Real Estate, Land Improvement, or Appliances. How am I supposed to enter the cost for the roof?

Do not enter as a Profit-Sharing Keogh contribution the employer contribution made to the individual 401(k).  Enter it only and an employer contribution the the individual 401(k) or mark the Maximize box for an individual 401(k).

To ensure TurboTax shows Form 8863 for the American Opportunity Tax Credit (AOTC), follow these steps: Dependent Status: Verify in the Personal Info section that you are not claimed as a dependent on someone else's tax return. This is crucial because dependents cannot claim the AOTC. Education Section: Use the search magnifying glass and the jump link to navigate back to the 1098-T section. Ensure you have entered your Form 1098-T and answered all related questions correctly. This includes confirming your enrollment status, education level, and qualified expenses. Software Version: The Free Edition of TurboTax does not support the AOTC. You need to upgrade to the Deluxe Edition to claim this credit.

OK, I think I understand what you are saying. I tried re-estimating using the TT interview to calculate estimated tax payments. I padded some numbers (just in case), and asked it to calculate 100% of my tax (instead of 90%). It came up with an amount for all 4 payments = X   As mentioned in my earlier post, from our 3/31 paycheck, I calculated that the current federal tax withheld was not 35% of the current salary+RSUs. The difference in the amounts is Y.  However, Y is only off by about $3k from the above TT estimate of X. (X+$3K = Y)   From what you are saying, in your above example, if I made quarterly payments of 4000, 4000, 5000, 5000 I would have had an underpayment penalty from Q1 and Q2. However, if I paid 5000, 5000, 4000, 4000, then I would not have any penalty, correct?   So it is to my advantage (if I can't estimate equal payments), to make higher payments in Q1 and Q2, and I can adjust lower as the year goes on, if I know I will be overpaying taxes.   And to avoid penalties, I should overestimate, rather than underestimate.   Am I right to assume that my calculation of this first quarter taxes (using salary+RSU)  is correct? We did not have any capital gains this quarter. Do I need to add in any dividends or interest earned in this quarter as well, or can I assume the interest/dividends are added at the end of the year.   If the above is correct, can I use my calculation of Y as my quarterly estimated tax payment?

Maryk4 Thanks for your quick reply... in a more detailed fashion, ... my question has a focus on the origin of the money... If the origin of the IRA funds [converted to Roth] were stocks and bonds... and not "pensions or annuities",     can the $24k be deducted?

With regard to the 401(k), you are an active participant if additions are made to your 401(k) for the plan year ending with or within your individual tax year.  The employer simply offering the 401(k) does not make you an active participant as long as no such additions are made for your benefit.  However, it's possible that the employer also has a pension plan or some other plan where you accrue an interest that would make you an active participant.  Also, because the plan can use a fiscal tax year, participation in the previous calendar year could make you an active participant for the current year.  To know if any of these apply to make you an active participant for 2024, you would have to ask your employer or plan administrator.

You can go HERE to download the TurboTax Desktop Software.  When you select the product, it will give you the option of Windows or MacOs for the operating system.  During installation, you will be asked to enter your License Code that you already purchased.   Please see these TurboTax Help Articles for more information: How do I get started with TurboTax Desktop How do I find my license code? Troubleshooting TurboTax Desktop for Mac Issues