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4 weeks ago
1 Cheer
Hat Tip and Thanks Repair (Change) worked perfect except I had Visual C++ redistributions all the way back to 2008. It was (x64) of the 2015-2022 redistributions that caused the problem. Shouldn't...
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Hat Tip and Thanks Repair (Change) worked perfect except I had Visual C++ redistributions all the way back to 2008. It was (x64) of the 2015-2022 redistributions that caused the problem. Shouldn't Intuit be installing the redistributions they are using with their software to make sure everything is working? This is not something users should be expected to figure out.
4 weeks ago
A properly executed trustee-to-trustee transfer of an IRA is not reportable and you should not receive any Form 1099-R reporting this transaction. Only if the IRA was moved by distribution and rollo...
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A properly executed trustee-to-trustee transfer of an IRA is not reportable and you should not receive any Form 1099-R reporting this transaction. Only if the IRA was moved by distribution and rollover rather than by a properly executed trustee-to-trustee IRA transfer would it be reportable on your tax return as AnnetteB6 described.
4 weeks ago
Means I have no reason to continue to use TurboTax. One of the major benefits was time savings from re-entering information. Guess I can move to a competitor.
4 weeks ago
1 Cheer
Same issue here. On the phone with them (over 40 minutes so far). They gave me an additional credit so I paid $5 over the phone. It processed but the software still wont let me e-file.
4 weeks ago
Have all my income entered in TT about $90k in income and have a expected refund of $757. I'm in texas so only federal taxes. I then entered my 1099nec from the amazon prime progam totaling a little ...
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Have all my income entered in TT about $90k in income and have a expected refund of $757. I'm in texas so only federal taxes. I then entered my 1099nec from the amazon prime progam totaling a little over $10k. After doing that my expected return dropped only by like 200$ to an expected refund of $550 so im only paying around 200$ in taxes on $10k worth of items from the progam. I had kinda worked myslef up and was actully expecting to owe a significant amount in taxes (around $2500) for participating in this amazon program. So my question is does this sound right? I feel like the math isnt mathing. Also i know there is a debate wether we have to enter it as a hobby or report it as Self-employment. The thing is when i enter it as SE income it actully increases my expected refund by over 2k. That really doesnt sound right either? Am i missing somthing?
4 weeks ago
1 Cheer
That's correct. Until you have a zero balance in traditional IRAs at year end, you'll continue to have some basis remaining.
4 weeks ago
Report income from vacation home
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4 weeks ago
Yes, probably. But, it depends on more information, primarily how much other income you reported on the previous years' tax returns. It depends on whether you were the student or the parent of a stu...
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Yes, probably. But, it depends on more information, primarily how much other income you reported on the previous years' tax returns. It depends on whether you were the student or the parent of a student and whether you claimed a tuition credit on those returns.
Scholarships that pay for qualified educational expenses (QEE - tuition, fees, books and other course materials) is tax free. Scholarship amounts that exceed QEE is taxable income, on the student’s tax return. Room & board are not QEE.
If box 5 of the 1098-T exceeds box 1, TurboTax (TT) will treat the difference as taxable income, unless you enter additional QEE at books and other expenses.
If you are entering the 1098-T, on your (the parent) return, TT will advise you that your student has taxable scholarship income to be reported on his/her return. It will not (and should not) enter the taxable scholarship on your tax return.
There is a tax “loop hole” available to claim an education credit, for the parents of students on scholarship. The student reports all his scholarship, up to the amount needed to claim the American Opportunity Credit (AOC), as income on his return. That way, the parents (or himself, if he is not a dependent) can claim the tuition credit on their return. They can do this because that much tuition was no longer paid by "tax free" scholarship. You cannot do this if the conditions of the grant are that it be used to pay for qualified expenses.
Using an example: Student has $10,000 in box 5 of the 1098-T and $8000 in box 1. At first glance he/she has $2000 of taxable income and nobody can claim the American opportunity credit. But if she reports $6000 as income on her return, the parents can claim $4000 of qualified expenses on their return.
4 weeks ago
@quinnr-s-91 , whether you receive a 1099-B or similar informational paperwork, you still have to recognize every dollar of income --- in your particular case you report this just as if you had rec...
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@quinnr-s-91 , whether you receive a 1099-B or similar informational paperwork, you still have to recognize every dollar of income --- in your particular case you report this just as if you had received a 1099-B ( basis, sales price, sales costs, holding period ). Note that on your return you are signing as "true" (under perjury jurat).
4 weeks ago
You can buy the Desktop Download program here or in stores or online like Amazon, Costco, etc. https://turbotax.intuit.com/personal-taxes/cd-download You need a full Windows 11 or Mac OS Sonoma 14 ...
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You can buy the Desktop Download program here or in stores or online like Amazon, Costco, etc. https://turbotax.intuit.com/personal-taxes/cd-download You need a full Windows 11 or Mac OS Sonoma 14 computer to install it. Then How to get started with the Desktop program, install and activate it https://ttlc.intuit.com/turbotax-support/en-us/help-article/product-delivery/download-software-turbotax-com/L7u9oLEkq_US_en_US?uid=luqgvzrd
4 weeks ago
I keep re-adding my bank account, re-reviewing. It keeps taking me back to the beginning but doesn't say anything is incomplete.
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4 weeks ago
Thanks for the response. I couldn't find option My employer reported my wages on a W-2, but did not withhold Social Security and Medicare taxes." I have to reach out to turbo tax i Guess.
4 weeks ago
@docjon49 wrote: You misunderstand my meaning. You misunderstood my meaning and actually proved my point with your last three sentences: "If the data is compromised you have no control o...
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@docjon49 wrote: You misunderstand my meaning. You misunderstood my meaning and actually proved my point with your last three sentences: "If the data is compromised you have no control over what happens to it. Data breaches happen all the time. Keep your private sensitive data, private." The point, and question, is: Why worry about Intuit when your data is likely EVERYWHERE? Unless you have no bank accounts, brokerage accounts, credit cards, cars and car insurance, doctor/hospital visits, healthcare insurance, and about a couple of dozen other things, your data is out there. Why be so concerned with Intuit?
4 weeks ago
I have the 1099-R. But when I enter it on Turbo Tax desktop I dont have a prompt to enter the basis from my form 8606. Where do I enter the basis amount so I am not taxed.
4 weeks ago
@KathyHe , just to be sure of what you are seeing ( I used desktop/windows Home&Business 2025 ), and recreated the scenario as I understood from your post. And , yes you have to enter that accumu...
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@KathyHe , just to be sure of what you are seeing ( I used desktop/windows Home&Business 2025 ), and recreated the scenario as I understood from your post. And , yes you have to enter that accumulated depreciation because of law changes May 6th 1997.
I did find that a lot of the questions etc. were somewhat ambiguous/ unclear/confusing. But if you keep focus on what it is trying to fill out ( see my earlier explanation -- hopefully not too confusing ), you will be alright. If you have the windows / desktop version you can also go to the forms mode to see what it is filling out.
While this requires a little bit of patience, the result is satisfactory.
Yes , it does ask for sales expenses as also costs of improvements during personal/ residence use.
Is there more I can do for you ?
pk
4 weeks ago
Why do you think it's wrong? Are you married? That's a common misunderstanding. If you are both over 65 and in the phaseout amount, the reduction is subtracted from each spouse's 6,000. The ...
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Why do you think it's wrong? Are you married? That's a common misunderstanding. If you are both over 65 and in the phaseout amount, the reduction is subtracted from each spouse's 6,000. 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 on 1040 line 11 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. You can not get it if you file MFS Married filing Separate. Here's IRS Schedule 1-A You can fill it out by hand. Should be easy. I also have a spreadsheet that might help or if you tell me your AGI and Single or Joint I can enter it into my spreadsheet.
4 weeks ago
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4 weeks ago
Why is my Turbo Tax asking for my Roth IRA and reading it as taxable federal income even though I didn't exceed 2025's $7000 limit?
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4 weeks ago
3 Cheers
Same issue this year (2025 tax year) as last year (2024) in TurboTax Business (1120) desktop. After completing federal tax return, on the State Taxes tab when clicking on "start" next to the stat...
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Same issue this year (2025 tax year) as last year (2024) in TurboTax Business (1120) desktop. After completing federal tax return, on the State Taxes tab when clicking on "start" next to the state, as always it opens up a browser pop-up titled "State Purchase / Select your state returns". The state is selected ($50 cost), Continue, Continue, and just the same as last year, every time the same generic error: "Hmm... it looks like we’ve hit a slight snag / Please try again or check back in a bit." Last year for business after trying to reload it a few thousand of times (as each time is three clicks, probably close to 10,000 total clicks) it finally loaded up once and let me pay the $50 to add the state. This year so far no such luck. The India-based phone support are completely useless and ask me what "form" (the guy says "like W-2") is this about. TurboTax Business 2025 desktop (just like 2024 and the years before) does NOT have ScreenShare code functionality (no such option in Online menu, Shift+Enter doesn't work, like it does in Home & Business), but of course support staff are totally ignorant of that and keep saying that screen share should work (it doesn't, not for TT Business). When I tell them it's a "block payment issue" (as Intuit has stated here to refer to this as when calling support) I can visualize the blank face it draws. Intuit phone support staff refuse to take the $50 payment and add the state tax license - they seem to have no clue how to do so (and possibly no access to do that). There is no way to open a normal trouble ticket online, or even if phone support generate a ticket #, no way to update it online (Intuit really can't afford any online-enabled trouble ticket system?) or even an e-mail address to which to send the screenshots and explanation. This can be explained in 2 minutes easily in writing and by screenshots, but no way to do that. Hours (soon to be tens of hours) on the phone with useless support, no progress. Is there anyone from Intuit here who can provide a workaround this known "block payment" issue that's been an issue for the last two years and provide a way to simply pay the $50 to add the state corporate tax support to TT Business 2025 desktop? All that Intuit needs to do is add the "TURBOTAX DESKTOP xx TAX YEAR 2025 WIN DOWNLOAD" (where xx = state) to the Intuit account licenses. Well that and collect the $50, which they for multiple years have been unable to have the software do correctly. Any workaround and solution here?
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4 weeks ago
There is a number there, but I do not believe it is correct. Unfortunately, it does not appear I can view schedule 1A for some reason to determine how the calculation was made.