All Posts

Pathetic how this issue hasn’t been resolved in all these years. I’ve used TurboTax Max for years and have never been able to access IDNotify and still don’t have access to the “benefit” I was was forced to pay for considering there’s no option to opt out.  Can you share with us how we’re able to access our accounts with IDNotify? I’ve seen your replies in all of the other threads and you always link an article that explains how to sign in to the idnotify website but NOT how to sign up for an account to the idnotify website. There’s not even a way to access idnotify through intuit/turbotax/experian. I recently had my identity stolen and have been spent my time filing complaints and lawsuits, and I would not mind adding TurboTax to that list for deceiving and forcing their customers into buying a that either doesn’t exist anymore or it never did.  again, I will be filing a complaint with the BBB, FTC and CFPB UNLESS you tell me how I can access the dashboard to my IDNotify account, anything other than that is unacceptable. 

Win11 Desktop TT2024 Premier I also need enter a new depreciable rental property expense: hardscaping & drainage.  Following DaveF1006's instructions "click Add an Asset." has no result (eg "Your Property Assets" window doesn't change). Clicking Done then Back shows a new asset "Untitled". Clicking "Edit" again has no result. Clicking Done reveals "Rental Real Estate Property" radio button.  Clicking "Continue" again has no result. Switching to Forms, the "Asset Entry Worksheet" takes an input ("Description of assets") but I don't know what other values to enter.  Switching back to "Step-by-Step" the new description is shown however clicking "Edit" again has no result.  

You cannot get both education credits on the same tax return.    You can get one or the other.        AMERICAN OPPORTUNITY TAX CREDIT https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-credits-deductions/eligible-take-american-opportunity-tax-credit/L8ZQFKvLe_US_en_US?uid=m6efibfz   AOC will be shown on line 29 of your Form 1040          https://www.irs.gov/help/ita/am-i-eligible-to-claim-an-education-credit         LIFETIME LEARNING CREDIT https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-credits-deductions/expenses-qualify-lifetime-learning-credit/L7cpyQLrJ_US_en_US?uid=m6eg46im     https://ttlc.intuit.com/community/credits-and-deductions/help/what-expenses-qualify-for-the-lifetime-learning-credit/00/26844  

When you requested your extension you were supposed to pay your estimated tax due.  Did you enter the payment you made into your tax return?    Go to Federal>Deductions and Credits>Estimates and Other Taxes Paid>Other Income Taxes 

No one else has access to your account(s).   Use the account recovery tool to see if you used TurboTax.     You have to access your own account and/or  print it for yourself using exactly the same account and user ID that you used when you prepared the return.    https://myturbotax.intuit.com/   Start a 2024 return online and enter some personal information  so that the menu on the left opens up and lets you access your past year returns.   https://ttlc.intuit.com/community/prior-year-return/help/how-do-i-access-my-prior-year-return/01/27010     https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US?uid=m5y4ch1y   Many people have multiple TT accounts and forget how to access them.  Log out of the account you are in now.     https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/many-intuit-accounts-turbotax/L9aVfKS1Z_US_en_US?uid=ll5g6zcx Account Recovery     Or did you use the desktop version of TurboTax?  If so, the files are on your own hard drive or any backup device you used like a flash drive.    

You have to access your own account and/or  print it for yourself using exactly the same account and user ID that you used when you prepared the return.   Many people have multiple TT accounts and forget how to access them.  Log out of the account you are in now.     https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/many-intuit-accounts-turbotax/L9aVfKS1Z_US_en_US?uid=ll5g6zcx Account Recovery   https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US?uid=m7e64td0    

I bought and sold all the stock in 2024 and received a final K1.  The only sections filled were section L and 19a.  The numbers are as follows: K1 section L Beginning capital account : blank capital contributed during the year: 6300 current year net income (loss): blank other increase (decrease): (1119) withdrawals and contributions: (5181) K1 section 19a distributions: 5181 Do I report on the 8949 what is on the 1099b- a basis of 6300, a sales price of 5181 and a loss of 1119?  And can I skip thevK1 section in turbotax?    

I suggest you have the Trustee withhold federal and state income taxes from your RMD instead of paying quarterly estimated taxes.  Most people pay ES taxes in four equal installments.  The first 3 were due on 4/15, 6/15 and 9/15.  While you can use the "annualized method" to calculate any penalties, it's a fairly complicated and cumbersome task.  If the taxes were withheld by the Trustee, withholdings are considered paid evenly throughout the year.   We pay ES tax to avoid underpayment penalties.  Under the Internal Revenue Code (tax law), there are generally two ways to avoid them.  Many states follow the same rules but not always, so check with your state for the rules.   The IRS rules are pasted below.  Because it's hard to accurately predict what 90% of this year's total tax will be, most tax preparers recommend paying 100/110% of prior year's total tax (depending on your 2024 Adjusted Gross Income, line 11 for Form 1040).  Assuming 2025 is your first RMD year, chances are, your 2025 income will be higher than 2024.  If that's true, just make sure your 2025 total withholding will be at least 100/110% of your 2024 total taxes (line 24 of Form 1040).   Underpayment of estimated tax by individuals penalty | Internal Revenue Service Avoid a penalty You may avoid the Underpayment of Estimated Tax by Individuals Penalty if: Your filed tax return shows you owe less than $1,000 or You paid at least 90% of the tax shown on the return for the taxable year or 100% of the tax shown on the return for the prior year, whichever amount is less. If your adjusted gross income (AGI) for 2023 was more than $150,000 ($75,000 if your filing status for 2024 is married filing separately), substitute 110% for 100%. The IRS urges taxpayers to check into their options to avoid these penalties. Check your withholding often and adjust it when your situation changes. To do this fill out a new Form W-4 and give it to your employer. The Tax Withholding Estimator is a helpful tool. Estimated tax is the method used to pay tax on income that is not subject to withholding (for example, earnings from self-employment, interest, dividends, rents, alimony, etc.). Use Form 1040-ES to figure and pay estimated taxes on time.   If you still prefer to pay quarterly ES taxes, I recommend you pay it electronically rather than mailing a check.  The USPS discourages mailing of checks because of the potential thefts and whitewashing checks.  For IRS, go to irs.gov to set up the payments.  Use the 100/110% formula to calculate how much you may owe, and pay the entire amount ASAP.  There will be some underpayment penalties unless you use the annualized method to calculate your 2025 Form 2210.

How to view all your accounts https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/many-intuit-accounts-turbotax/L9aVfKS1Z_US_en_US?uid=ll5g6zcx It's common to end up with multiple accounts. First LOG OUT of whatever TurboTax account you're logged into right now. Then use this TurboTax account recovery website to get a list of user ID's for an email address. Run the tool against any email addresses you may have used https://myturbotax.intuit.com/account-recovery/ If you used the Desktop CD/Download program then the only copy is on your computer and not saved or stored online. You can also request a transcript from the IRS https://www.irs.gov/individuals/get-transcript

There is no restriction on the rollover being back to the same account from which the distribution occurred, other than the general one-rollover-per-12-months limitation on traditional IRA-to-traditional IRA and Roth IRA-to-Roth IRA rollovers combined.  The fact that the rollover can be to a different IRA does not preclude you from rolling the distribution back to the original IRA.  The statute imposes no requirement that the receiving IRA be a different IRA.

Publication 590-A Rollover From a Roth IRA You can withdraw, tax free, all or part of the assets from one Roth IRA if you contribute them within 60 days to another Roth IRA. Most of the rules for rollovers, described in chapter 1 under Rollover From One IRA Into Another, apply to these rollovers. However, rollovers from retirement plans other than Roth IRAs are disregarded for purposes of the 1-year waiting period between rollovers. A rollover from a Roth IRA to an employer retirement plan isn’t allowed. A rollover from a designated Roth account can only be made to another designated Roth account or to a Roth IRA. If you roll over an amount from one Roth IRA to another Roth IRA, the 5-year period used to determine qualified distributions doesn’t change. The 5-year period begins with the first tax year for which the contribution was made to the initial Roth IRA. See What Are Qualified Distributions? in chapter 2 of Pub. 590-B.   Note that where it says most of the same rules apply as Traditional IRAs, then notes 3 exceptions.  A self-rollover is not one of the exceptions.  Self-rollovers are explicitly mentioned in chapter 1 under traditional IRAs.   More important, the A in IRA doesn't mean "account", it means "individual retirement arrangement."   No matter how many traditional IRA accounts you have at different brokers, you have one "arrangement", and this is why the RMD and pro rata rules work the way they do.  Likewise, no matter how many Roth IRA accounts you have at different brokers you have one Roth "arrangement."     But in fact, the rollover-->recharacterize-->convert method will work even if you open a different Roth IRA account.  You made your withdrawal from broker 1.  You could deposit the money in a Roth IRA at broker 2 (as long as you tell them it is a rollover and not a contribution), then recharacterize it as a traditional IRA at broker 2, then convert it to a Roth IRA at broker 1 or 2 (as long as it was a direct conversion).   It makes no difference if you pass the money through broker 2 or back to broker 1 since you only have one individual retirement arrangement.