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sakilee0209 · ‎July 30, 2025

I filed extension for Federal and State of Michigan for 2024. I paid taxes that I thought I owed to Federal but based on my calculation I was supposed to receive refund from MI so I did not pay MI. H...

I filed extension for Federal and State of Michigan for 2024. I paid taxes that I thought I owed to Federal but based on my calculation I was supposed to receive refund from MI so I did not pay MI. However, I am now trying to file State of Michigan return and turned out that I owed MI $194. However, I met the all of the following below; (source: https://www.michigan.gov/taxes/questions/iit/accordion/estimate/why-am-i-being-charged-penalty-and-interest-for-underpayment-of-estimated-income-tax-1#:~:text=Penalty%20is%2025%25%20for%20failing,1%25%20above%20the%20prime%20rate.&text=(MI%2D2210)-,Why%20am%20I%20being%20charged%20penalty%20and,underpayment%20of%20estimated%20income%20tax%3F) I paid 90% of your current year's tax liability 100% of the previous year's tax liability 110% of your previous year's tax liability if your previous year's adjusted gross income is more than $150,000 ($75,000 for married filing separately) Since I paid enough taxes to meet all of the above, does it mean that I won't owe any penalty even if I owe MI $194 for 2024 tax and paying past April 15, 2024? Please clarify. Thank you.

bgoodreau01 · ‎July 30, 2025

Thank you for your responses. The "conditions" listed above appear to be from IRS Pub 553 which explains when IRS Form 8615 needs to be completed. The last point says" (3) The child was under 24 at t...

Thank you for your responses. The "conditions" listed above appear to be from IRS Pub 553 which explains when IRS Form 8615 needs to be completed. The last point says" (3) The child was under 24 at the end of 2025, he was a full-time student, and his earned income (from working) is not more than half of his total support for the year." Since my grandson will have "earned income" more than half his expenses for the year, but did NOT PAY half his expenses (mostly due to tuition, etc his parents paid until graduation in May), does that mean he need not complete Form 8615 and therefor he is not subject to the kiddie tax? In other words, he need not have "paid" for half his expenses, he need only have "earned" more than half his expenses. I may be grasping here but just trying to read the exact rules literally. My guess is that's what the IRS would do. i.e having "earned" does not mean having "paid".

NCperson · ‎July 30, 2025

@dareelcmills2k19 you can't. To be eligible for CTC, you must have earned income of at least $2500. There was no income requirement in 2021 and that year only, but the window to claim a refund ...

@dareelcmills2k19 you can't. To be eligible for CTC, you must have earned income of at least $2500. There was no income requirement in 2021 and that year only, but the window to claim a refund for 2021 has now closed.

alessa_369 · ‎July 30, 2025

alvin4 · ‎July 30, 2025

Is this the depreciation recapture section? I've read I have to pay that gain regardless of whether or not I've taken the deduction in the past (I haven't) but if I input the zero claimed vs. the TT a...

Is this the depreciation recapture section? I've read I have to pay that gain regardless of whether or not I've taken the deduction in the past (I haven't) but if I input the zero claimed vs. the TT auto calculation, my refund jumps hundreds of dollars?

dareelcmills2k19 · ‎July 30, 2025

jyazell49 · ‎July 30, 2025

it is additional income from the same main employer for cleaning services not related to main employment

xmasbaby0 · ‎July 30, 2025

It often takes at least nine weeks---sometimes longer -- after verifying identity to receive your refund. ONLY the IRS is in control and only the IRS can tell you when your refund will be issued.

sophamel · ‎July 30, 2025

bakenny · ‎July 30, 2025

"Your tax returns are saved here". There is nothing there when i click the box

lina_roberts · ‎July 30, 2025

feliciameowhiggins · ‎July 30, 2025

VolvoGirl · ‎July 30, 2025

If your first return was efiled and Accepted or you mailed it, then you need to do an Amended tax return to correct or add new info. You need to wait for the original return to be fully processed and...

If your first return was efiled and Accepted or you mailed it, then you need to do an Amended tax return to correct or add new info. You need to wait for the original return to be fully processed and you get the first refund or paid the tax due. Then you can Amend. Be sure to save a copy of your original return before you start the amended return. The Amended return will overwrite the original return. How to Amend the 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

VolvoGirl · ‎July 30, 2025

Or you can pay on the IRS website. Be sure to pick 2025 1040ES payment https://www.irs.gov/payments

VolvoGirl · ‎July 30, 2025

Sorry no. It's been that way for years. We've been asking. Is this your first year paying estimates? Then next year the IRS will mail you actual 1040ES forms prefilled with your name, address ...

Sorry no. It's been that way for years. We've been asking. Is this your first year paying estimates? Then next year the IRS will mail you actual 1040ES forms prefilled with your name, address & ssn and envelopes. So what I do is just write in the amount from Turbo Tax on the IRS forms.

rosanta · ‎July 29, 2025

familiaarroyolopez · ‎July 29, 2025

when i login in actual turbotax, i can start a new 2024 return, but i cannot start a new 2023 return (i missed it). Thanks

rmm · ‎July 29, 2025

What buttons do I need to press to get Turbotax to allow me to complete an amended return?

Mike9241 · ‎July 29, 2025

I have never seen such a worksheet in Turbotax. from what i seen for reporting of distributions by ETFs (may not be derivative ETFs) is that the ETF reports to the broker the % that is a ROC for each...

I have never seen such a worksheet in Turbotax. from what i seen for reporting of distributions by ETFs (may not be derivative ETFs) is that the ETF reports to the broker the % that is a ROC for each distribution. the broker then uses these %s to calculate and report on 1099-DIV the taxable and non-taxable portions. perhaps contact the ETF about tax reporting.

VolvoGirl · ‎July 29, 2025

Are you asking about installing the 2024 Desktop program? I had to download and install it again when I upgraded my computer to Windows 11 from Windows 10. Since you now have to log into an In...

Are you asking about installing the 2024 Desktop program? I had to download and install it again when I upgraded my computer to Windows 11 from Windows 10. Since you now have to log into an Intuit Account when you first install it, all your downloads and licenses are listed there (even if you bought it from somewhere else) so if you need to install it again or install on another computer, even on the other operating system (Windows, Mac) you can download it again. Access your downloads here https://shop.turbotax.intuit.com/commerce/account/secure/login.jsp?pagecontext=download

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