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December 27, 2025
2:00 PM
December 27, 2025
2:00 PM
I have a 1099-INT where the Interest Income is less than the Accrued Interest Paid on Purchases. This results in negative numbers where TurboTax says the numbers cannot be negative. How should I hand...
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I have a 1099-INT where the Interest Income is less than the Accrued Interest Paid on Purchases. This results in negative numbers where TurboTax says the numbers cannot be negative. How should I handle this? Additional context: This is on a 2023 return I am trying to amend (because I did not understand accrued interest at the time). In 2023 I opened an SMA (Separately Managed Account) of bonds where all of the purchases were made in the last quarter of the year. I suspect some of the interest payments made to me related to the accrued interest payments must have landed in 2024, but it is pretty hard to track all of the bits, especially because I am not personally making those purchases. Thanks! --Mike
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December 27, 2025
1:55 PM
A few weeks ago when accessing the 401K,Pension Plan Withdrawals section I was notified that: This section is unavailable while we work on updates for recent tax law changes. There was an option...
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A few weeks ago when accessing the 401K,Pension Plan Withdrawals section I was notified that: This section is unavailable while we work on updates for recent tax law changes. There was an option to be notified when the forms were available. I signed up and a few days ago received and email that the forms are NOW AVAILABLE. But the form that it said became available was "Form 3903" moving expenses which is not associated with Retirement Income. Today (12/27/2025) I attempted to access and was once again told that it was unavailable but signing up for notifications points once again to MOVING EXPENSES. I didn't move and don't need that form.
December 27, 2025
1:53 PM
Yes all those.
December 27, 2025
1:50 PM
There are blank 1040ES forms at the bottom of this IRS https://www.irs.gov/pub/irs-pdf/f1040es.pdf
December 27, 2025
1:45 PM
How do I get a copy of 1040ES form number 4 so I can send it to IRS?
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December 27, 2025
1:44 PM
1 Cheer
Are you on Windows or Mac? I think it only transfers into Windows Turbo Tax. See…..Transferring from TurboTax for Windows, H&R Block, or TaxACT https://ttlc.intuit.com/turbotax-support/en-us/help-...
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Are you on Windows or Mac? I think it only transfers into Windows Turbo Tax. See…..Transferring from TurboTax for Windows, H&R Block, or TaxACT https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/transfer-last-year-return-2021-turbotax-windows/L0JcyjyrG_US_en_US?uid=lafk94my TurboTax Online and the Mac Desktop program only supports PDF transfers, if you used other tax software last year. But a pdf only transfer very basic info like your name and AGI. It would be just as easy to manually enter all your info. So it's probably not worth even trying to transfer it.
December 27, 2025
1:41 PM
Bought TurboTax Deluxe 2025 & cannot import my H&R Block 2024 return. The file is (My Name)2024 H&R Block Tax ReturnT24 But when I use the TT Import function & search for my file, it is greyed out....
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Bought TurboTax Deluxe 2025 & cannot import my H&R Block 2024 return. The file is (My Name)2024 H&R Block Tax ReturnT24 But when I use the TT Import function & search for my file, it is greyed out. TurboTax advertises that it can import H&R Block! Help please.
December 27, 2025
1:40 PM
Nothing about Social Security has changed. It can still be taxable. There is a new Enhanced Senior Deduction. The maximum deduction is $6,000 for each person 65. The phaseout is 6% of the amount ...
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Nothing about Social Security has changed. It can still be taxable. There is a new Enhanced Senior Deduction. The maximum deduction is $6,000 for each person 65. The phaseout is 6% of the amount by which MAGI exceeds $75,000 for single or $150,000 for married filing jointly (MFJ). The MAGI is normally the same as your AGI but with some Foreign items from Form 2555 added back in. On a joint return the phaseout is calculated separately for each person, so the 6% phases out for each spouse. This deduction is intended to provide tax relief for seniors and is in addition to the existing Standard Deduction or your Itemized Deductions. Expires December 31, 2028. The 6,000/12,000 senior deduction will be calculated on 1040 Schedule 1-A page 2 Part V Enhanced Deduction for Seniors which goes to 1040 line 13b. It is separate and in addition to the Standard Deduction or your Itemized Deductions on 1040 line 12e. Turbo Tax automatically includes it if you qualify. IRS Schedule 1-A https://www.irs.gov/pub/irs-dft/f1040s1a--dft.pdf
December 27, 2025
1:39 PM
Anyone with an answer?
December 27, 2025
1:35 PM
@TreRegnoc wrote: I guess it’s time for me to move on. Yeah, a lot of people are apparently taking their circa $79-$99/year and moving on.
December 27, 2025
1:34 PM
If I understand your answer Turbotax will calculate it correctly in the real tax filing. Some of those forms aren't ready until February 2026. I'm trying to use the What-If form to estimate my 2025...
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If I understand your answer Turbotax will calculate it correctly in the real tax filing. Some of those forms aren't ready until February 2026. I'm trying to use the What-If form to estimate my 2025 tax situation before Dec 31 in case I want to make some final financial activities.
December 27, 2025
1:33 PM
@mise88man wrote: For the next three plus years, I hope I don't get audited on my charitable deductions. You have no documentary evidence of your donations? That could be problematic with or ...
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@mise88man wrote: For the next three plus years, I hope I don't get audited on my charitable deductions. You have no documentary evidence of your donations? That could be problematic with or without ItsDeductible.
December 27, 2025
1:29 PM
New $6,000 "Bonus" Deduction (2025-2028)
Amount: Eligible single filers can claim up to $6,000. Married couples filing jointly can claim up to $12,000 if both spouses qualify ($6,000 per person). ...
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New $6,000 "Bonus" Deduction (2025-2028)
Amount: Eligible single filers can claim up to $6,000. Married couples filing jointly can claim up to $12,000 if both spouses qualify ($6,000 per person).
Eligibility: You must be 65 or older by December 31, 2025, and have a valid Social Security number.
Availability: This deduction is available whether you take the standard deduction or itemize your deductions.
Income Limits (Modified Adjusted Gross Income - MAGI): The deduction starts to phase out if your MAGI exceeds certain thresholds and is completely eliminated at higher levels:
Single filers: Phase out begins over $75,000 MAGI, fully eliminated at $175,000.
Married couples filing jointly: Phase out begins over $150,000 MAGI, fully eliminated at $250,000.
Duration: This provision is temporary and currently set to expire after the 2028 tax year.
December 27, 2025
1:26 PM
Go to this TurboTax website to download your desktop purchase - https://turbotax.intuit.com/personal-taxes/cd-download/install-turbotax/
December 27, 2025
1:24 PM
1 Cheer
@Ali2LA while I am not familiar with the exact screens of the on-line product, I know the desktop version has no issues with such a scenario --- what you are essentially describing is a conversion o...
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@Ali2LA while I am not familiar with the exact screens of the on-line product, I know the desktop version has no issues with such a scenario --- what you are essentially describing is a conversion of a rental property to primary /secondary home. The issues encountered is not the conversion ( generally adjusting the basis & carrying forward the accumulated depreciation), but at disposition of the asset ( re-capture, capital gain and exclusion of gain as main residence ).
Is there more I can do for you ?
December 27, 2025
1:22 PM
If taxes on Social Security income were eliminated, would that be for the entire 2025 tax year of just since the bill was passed and signed?
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December 27, 2025
1:16 PM
@DonnaBear65 generally IRS holds that back pay is taxable in the year when received. However, if you received the back pay during NRA status, this back pay from foreign source would not be include...
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@DonnaBear65 generally IRS holds that back pay is taxable in the year when received. However, if you received the back pay during NRA status, this back pay from foreign source would not be included in your US income -- depends on your own tax status ( NRA or Resident for Tax purposes ) and when the back-pay is constructively received. Note that as H1-B worker, if you meet the Substantial Presence during the year, then your first day of residency status is the first day you were legally present in the US.
Does this help ? Is there more I can do for you ?
December 27, 2025
1:01 PM
Stop rending property bought through 1031 exchange?
Topics:
December 27, 2025
12:49 PM
@xmasbaby0 No, he's saying the senior deduction should be 5,660 (not added to the SD). I figure his Senior Ded should be $5,507.
