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April 16, 2025
7:20 AM
Try previewing your actual return as it is a more accurate reflection of your return.
You can get to your tax return in TurboTax desktop as follows:
Switch to Forms Mode, and then (see s...
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Try previewing your actual return as it is a more accurate reflection of your return.
You can get to your tax return in TurboTax desktop as follows:
Switch to Forms Mode, and then (see screenshots below for additional guidance)
Scroll through your forms in the left panel and
Click on the form you want to preview (Example Form 1040)
You can get to your Tax Return in TurboTax Online as follows:
Go to "Tax Tools" in your left panel,
Select "Tools" and then
Select "View Tax Summary" and
Select "Preview Form 1040"
Click here for "How do I update and print a new W-4?"
Click here for "Why do I owe taxes?"
Click here for "Video: Why Would I Owe Federal Taxes?
April 16, 2025
7:19 AM
It depends. Is your LLC small business reported on IRS Schedule C Profit and Loss From Business on your Federal 1040 income tax return? Or from something else? Please clarify.
April 16, 2025
7:18 AM
You could 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 cook...
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You could 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 16, 2025
7:18 AM
How long ago was your e-file accepted? Give the IRS a chance to process your return before you expect instant results if you just e-filed on 4-15. And there could be a lag before it posts to your...
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How long ago was your e-file accepted? Give the IRS a chance to process your return before you expect instant results if you just e-filed on 4-15. And there could be a lag before it posts to your bank or credit card account. Watch your bank account or credit card account, and also your online account with the IRS.
https://www.irs.gov/payments/your-online-account
April 16, 2025
7:18 AM
Thanks for your answer. No, i didn't amend via Sprintax. I did through Turbotax, as the Turbotax agent herself told me so. This is so disappointing. I didn't have any information and i feel now l...
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Thanks for your answer. No, i didn't amend via Sprintax. I did through Turbotax, as the Turbotax agent herself told me so. This is so disappointing. I didn't have any information and i feel now like being misguided. The agent should've told me not to amend with TurboTax. I have clarified to her whether the apps will make a report for 1040-NR, and she said repeatedly that TurboTax will decide whether it's 1040 or 1040-NR. I spent money for nothing.
April 16, 2025
7:18 AM
You can review your fees using the instructions below to find out why you're being charged. You can follow the instructions in this article to remove any unwanted Fees Why am I being charged for Tur...
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You can review your fees using the instructions below to find out why you're being charged. You can follow the instructions in this article to remove any unwanted Fees Why am I being charged for TurboTax Free Edition?
You can review your fees in TurboTax online as follows:
Go to the left side of your screen under "Tax Home"
Go to "Tax Tools" then "Tools"
The "Tools Center" Box will pop up
Click on "My Fees" to see a summary of your Turbo Tax Fees.
April 16, 2025
7:18 AM
Please explain.
April 16, 2025
7:17 AM
Thank you. I will try to do that. It actually should drop off it isn't used. It shouldn't happen in the first place. The program already has the information.
April 16, 2025
7:15 AM
What do you mean by "child income?" What child income? Did you pay a child to work for you?
April 16, 2025
7:15 AM
If you did not file yet and you did not request an extension, it is too late to remove that additional excess via "excess plus earnings" . The deadline was April 15, 2025. You must file 2024 F...
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If you did not file yet and you did not request an extension, it is too late to remove that additional excess via "excess plus earnings" . The deadline was April 15, 2025. You must file 2024 Form 5329 and pay the 6% penalty and have custodian remove the new excess by distribution of exactly that amount. any earnings on the new excess remain in the Roth IRA. @Taxdog_2025
April 16, 2025
7:14 AM
I don’t have a w2
Topics:
April 16, 2025
7:13 AM
Yes. The tax treaty specifies that dividends paid by a company which is a resident of a Contracting State to a resident of the other Contracting State may be taxed in that other State. However, such...
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Yes. The tax treaty specifies that dividends paid by a company which is a resident of a Contracting State to a resident of the other Contracting State may be taxed in that other State. However, such dividends may also be taxed in the Contracting State of which the company paying the dividends is a resident, and according to the laws of the State, but if the beneficial owner of the dividends is a resident of the other Contracting State, the tax so charged shall not exceed:
(a) 15 percent of the gross amount of the dividends if the beneficial owner is a company which owns at least 10 percent of the voting stock of the company paying the dividends;
(b) 25 percent of the gross amount of the dividends in all other cases.
April 16, 2025
7:11 AM
W-2’s come from employers.
ALL of your W-2’s must be entered on the SAME tax return.
Go to Federal>Wages & Income to enter a W-2.
After you enter the first one, you click Add Anothe...
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W-2’s come from employers.
ALL of your W-2’s must be entered on the SAME tax return.
Go to Federal>Wages & Income to enter a W-2.
After you enter the first one, you click Add Another W-2.
W-2's come from your employer, and they have until January 31 to issue it. Some employers allow you to import the W-2 through the software, but for security reasons you still need information from the actual W-2 to import it. Some employers have payroll sites that will have your W-2. You might need to phone, drop in, email and/or snail mail an old employer to make sure they know where to send your W-2.
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-forms/get-copy-w-2/L8FTim9MO_US_en_US?uid=m68ee4os
https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/import-enter-w-2/L55HzdeDr_US_en_US?uid=m68efe36
You can get a wage and income transcript from the IRS: It will not show the actual W-2, 1099’s, etc, but will show the income information the IRS received. It will not, however, show your state information. It will only show the federal information.
https://www.irs.gov/individuals/get-transcript
April 16, 2025
7:11 AM
S corp shareholder basis is tracked on IRS form 7203 which is included within the screens for the IRS Schedule K-1 (1120S).
The form takes into account gains, losses, distributions among other ...
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S corp shareholder basis is tracked on IRS form 7203 which is included within the screens for the IRS Schedule K-1 (1120S).
The form takes into account gains, losses, distributions among other things.
Form instructions are here.
April 16, 2025
7:10 AM
The Child tax credit is on line 19 of your form 1040 and the Additional Child Tax Credit is on line 28.
The Child Tax Credit is a non-refundable tax credit while the ACTC is refundable.
P...
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The Child tax credit is on line 19 of your form 1040 and the Additional Child Tax Credit is on line 28.
The Child Tax Credit is a non-refundable tax credit while the ACTC is refundable.
Please read this TurboTax article for more information.
April 16, 2025
7:10 AM
Here are two FAQs to help: What if I'm having trouble with my filing verification code? and How do I get a verification code if the email address is wrong?
April 16, 2025
7:09 AM
The maximum amount of the refundable Child Tax Credit --- called the Additional Child Tax Credit -- is $1700. You cannot get back more than $1700 per child. You might not get the full $1700, depe...
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The maximum amount of the refundable Child Tax Credit --- called the Additional Child Tax Credit -- is $1700. You cannot get back more than $1700 per child. You might not get the full $1700, depending on how much you earned.
Make sure you have entered your child as a dependent in My Info, and that you have entered the child's Social Security number. Careful— do not say that your child’s SSN is not valid for employment. If your child was born in 2024 make sure you said he lived with you the whole year. There is an oddly worded question that asks if the child paid over half their own support. Say NO to that question.
Have you entered income from working in 2024? If not, you will not receive an income tax refund based on having dependent children.
The maximum amount of the child tax credit is now $2000 per child; the refundable “additional child tax credit” amount is $1700. In order to get that credit, you have to have income from working.
Take the amount you earned from working. Subtract $2500. Multiply the rest by 15%. That is the additional child tax credit per child that you can get—- up to the maximum of $1700 per child. If the amount you earned from working was low, you will not get the full $1700 per child.
If your child is older than 16 at the end of 2024, you do not get the CTC. But you may still get the non-refundable $500 credit for other dependents instead.
https://ttlc.intuit.com/turbotax-support/en-us/help-article/taxation/child-tax-credit/L2lNhfGDl_US_en_US?uid=m68dfq2u
https://ttlc.intuit.com/turbotax-support/en-us/help-article/taxation/additional-child-tax-credit/L6xFeMFEf_US_en_US?uid=lqnuygah
https://www.irs.gov/help/ita/does-my-childdependent-qualify-for-the-child-tax-credit-or-the-credit-for-other-dependents
PREVIEW 1040
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/preview-turbotax-online-return-filing/L77WCkvnu_US_en_US?uid=m681fkhr
Child Tax Credit line 19
Credit for Other Dependents line 19
Earned Income Credit line 27
Additional Child Tax Credit line 28
April 16, 2025
7:08 AM
You can report only your share of the dividends on your tax return. Keep the 1099-DIV with your tax files and notes about your share and the amount you reported. If you want to file actual nominee i...
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You can report only your share of the dividends on your tax return. Keep the 1099-DIV with your tax files and notes about your share and the amount you reported. If you want to file actual nominee information with the IRS you can do that with the information below. You can file using e-file. The information below is an option if you want to eliminate any question at the IRS.
Nominee Returns. This is how the IRS knows what you are doing.
Generally, if you receive a Form 1099 for amounts that actually belong to another person or entity, you are considered a nominee recipient. You must file a Form 1099 with the IRS (the same type of Form 1099 you received). You must also furnish a Form 1099 to each of the other owners.
File the new Form 1099 with Form 1096 (this is a transmittal for the 1099) by mailing to the Internal Revenue Service Center for your area. (Provided on the Form 1096)
On each new Form 1099, list your deceased mother as the payer and the other owner, as the recipient. On Form 1096, list your deceased mother as the nominee filer, not the original payer. The nominee is responsible for filing the subsequent Forms 1099 to show the amount allocable to each owner.
The forms filed with the IRS should be the red copy (use the form(s) needed) so if you don't have a color printer, go to the IRS website to fill in and print the forms here: :
Form 1096
Form 1099-DIV
@crabshell
April 16, 2025
7:07 AM
I have attempted to reach them to get a better understanding as to why I was charged such an excessive amount. Unfortunately, I still don’t have an explanation. I have used Turbo Tax for well over a ...
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I have attempted to reach them to get a better understanding as to why I was charged such an excessive amount. Unfortunately, I still don’t have an explanation. I have used Turbo Tax for well over a decade and this is the first time I have left in a state of confusion. I do thank you for your response.
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