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The 529 is nontaxable when used for 529 qualified Room and Board (including students living at home) and Qualified Education Expenses - Internal Revenue Service. Be sure to track where the money wen...
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The 529 is nontaxable when used for 529 qualified Room and Board (including students living at home) and Qualified Education Expenses - Internal Revenue Service. Be sure to track where the money went to qualified expenses.
If possible, leaving $4k to be used for tuition and the education credit goes a long way, if you qualify.
You will receive a 1099-Q for the distribution and it is not entered if all of it went to qualified expenses. IRS Publication 970, Tax Benefits for Education states:
Page 45: Don't report tax-free distributions (including qualifying rollovers) on your tax return.
Reference: What You Need to Know about AOTC and LLC
April 15, 2025
5:18 PM
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April 15, 2025
5:17 PM
The w2 job was to pay bills in the interim. I made no money last year as an appraiser. Can I still deduct the expenses incurred to try to get work?
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April 15, 2025
5:17 PM
What do you mean by your "ESPP sale amount"? Are you referring to the amount reported on your Form 1099-B?
April 15, 2025
5:17 PM
Some returns get rejected because the IRS e-file database indicates that an Identity Protection PIN (IP PIN) is required for the taxpayer. If you received a CP01A Notice from the IRS with the requir...
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Some returns get rejected because the IRS e-file database indicates that an Identity Protection PIN (IP PIN) is required for the taxpayer. If you received a CP01A Notice from the IRS with the required IP PIN. The IP PIN must be entered in the return and it must match the IRS e-File database.
Go to the "Federal Tax" tab, select "Other Tax Situations", and choose the "IP PIN" section. Enter the correct IP PIN information and then resubmit your return. If the IP PIN is not entered, this return can't be electronically filed. It will have to be printed and filed by mail. If you need to get your IP PIN:
Visit the IRS's Get an IP PIN site, or
Call the IRS at 1-800-908-4490 to have your IP PIN mailed to you (this can take up to 21 days)
April 15, 2025
5:17 PM
The IRS doesn't yet accept Apple Pay. There are some other digital options available through third party vendors. See the digital wallet options HERE.
April 15, 2025
5:17 PM
Student workers at a university might have the other boxes blank. Just file as the W-2 is written.
April 15, 2025
5:16 PM
Is there an older version (2022) of the turbotax software?
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April 15, 2025
5:16 PM
If you are in a loop you can try logging out of the program, and clearing your cache and cookies. Please click here for instructions on how to clear your cache. Please click here for instructions on...
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If you are in a loop you can try logging out of the program, and clearing your cache and cookies. Please click here for instructions on how to clear your cache. Please click here for instructions on clearing your cookies.
You may also try using another browser.
April 15, 2025
5:16 PM
No, since you are filing as a resident this year, you do not need to fill out form 8843. You would only file an 8843 if you were in the two-year exempt period and need to explain why you are exempt f...
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No, since you are filing as a resident this year, you do not need to fill out form 8843. You would only file an 8843 if you were in the two-year exempt period and need to explain why you are exempt from the substantial presence test for tax purposes. you are past the two-year exempt period.
April 15, 2025
5:16 PM
Ty that's a great option! I'm going to do a short term payment plan, wait until the dust settles, and make the payment online. I appreciate you!
April 15, 2025
5:15 PM
What is the exact wording? It is generally asking if your dependent paid more than half of their own living expenses. If so, then you would say no (assuming they did not) This is one of the rules f...
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What is the exact wording? It is generally asking if your dependent paid more than half of their own living expenses. If so, then you would say no (assuming they did not) This is one of the rules for being able to claim them. They cannot have paid more than half of their own expenses.
April 15, 2025
5:15 PM
Are you confusing your TurboTax fees with your tax bill?
How to Review your Fees
How to downgrade
April 15, 2025
5:15 PM
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April 15, 2025
5:15 PM
I'm in Texas. I filed for an amended tax return and it was rejected twice. The original tax return was filed on 02/02/2025 and the amended was filed on 04/15/2025. Turbotax doesn't say why it was rej...
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I'm in Texas. I filed for an amended tax return and it was rejected twice. The original tax return was filed on 02/02/2025 and the amended was filed on 04/15/2025. Turbotax doesn't say why it was rejected. I wanted to changed my filing status from married filing separately to married filing joint. Please help me address the issue.
April 15, 2025
5:15 PM
Change your filling status from Single to Head of Household on the Personal profile screen.
Select your name under Your info
Select Edit/Review
Continue through the screens and answer...
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Change your filling status from Single to Head of Household on the Personal profile screen.
Select your name under Your info
Select Edit/Review
Continue through the screens and answer Yes to Do you have any dependents on the About Your Household Screen.
Review the TurboTax articles Guide to Filing Taxes as Head of Household and Filing Taxes as the Head of Household for more information.
Refer to the TurboTax article How to Change Your Tax Filing Status for more information.
April 15, 2025
5:15 PM
Go to Alaska fund appears to be a broken link from the TurboTax article here. Usually the help articles will give you a direct link for TurboTax Online so you can be brought directly to the correct p...
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Go to Alaska fund appears to be a broken link from the TurboTax article here. Usually the help articles will give you a direct link for TurboTax Online so you can be brought directly to the correct page without having to navigate.
As a workaround for TurboTax Online, you can go directly to this 1099-MISC link to enter your Alaska Permanent Fund Dividend.
@tychotithonus
April 15, 2025
5:15 PM
I've gone through the process, already paid my fee, and had to come back in to verify identity. After putting in D.L #'s and verifying I didn't file last year and that Scott did. It kicked me back t...
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I've gone through the process, already paid my fee, and had to come back in to verify identity. After putting in D.L #'s and verifying I didn't file last year and that Scott did. It kicked me back to the beginning.
April 15, 2025
5:14 PM
This won't be an option until you have already entered a qualifying dependent.
Then, you can change your filing status.
Here's how to do this in TurboTax Online:
1. While logged into ...
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This won't be an option until you have already entered a qualifying dependent.
Then, you can change your filing status.
Here's how to do this in TurboTax Online:
1. While logged into your TurboTax account, navigate to the left of the screen, under 2024 Taxes, choose My Info
2. At the top of the screen, under Your Info appears your name, click your name to expand options, then choose Edit
3. Continue through the interview pages until you arrive at About your household
4. Answer the question "What was your marital status on December 31, 2024? to change your filing status
Here is some more information on filing status: How to Change Your Tax Filing Status
April 15, 2025
5:14 PM
You would generally not enter a negative number on a tax return. What are you trying to enter as a negative?
You would use the minus sign before the number, such as -8,000, to show a negative ...
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You would generally not enter a negative number on a tax return. What are you trying to enter as a negative?
You would use the minus sign before the number, such as -8,000, to show a negative number.
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