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4 weeks ago
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4 weeks ago
Don't quote me but I just heard from an Adminstrator "by the end of the day". So keep checking.
4 weeks ago
1099-NEC. Yes info on the actual forms looks correct.
4 weeks ago
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4 weeks ago
Hi everyone, I am an F-1 student and I realized I forgot to file Form 8843 for the 2024 tax year. I had no U.S. income in 2024, so I am only filing Form 8843 to declare my exempt days. Here is my...
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Hi everyone, I am an F-1 student and I realized I forgot to file Form 8843 for the 2024 tax year. I had no U.S. income in 2024, so I am only filing Form 8843 to declare my exempt days. Here is my situation regarding my SSN: I did not have an SSN in 2024, but I received one in May 2025. Since I have an SSN now while filing, should I enter it on the 2024 form, or leave it blank because I didn't have it back then? Thank you.
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4 weeks ago
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Don't quote me but I just heard from an Adminstrator "by the end of the day". So keep checking.
4 weeks ago
When will the pension and IRA be updated. Today is 1/21 so where is the update?
4 weeks ago
I agree that you aren't going to find your hourly rate on your W-2.
However, your pay stub typically will reflect both the straight time and overtime hours allocated to the pay period. It ma...
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I agree that you aren't going to find your hourly rate on your W-2.
However, your pay stub typically will reflect both the straight time and overtime hours allocated to the pay period. It may also reflect a note on the hourly wage.
You can contact your employer, and ask what your rate is.
You may have a current pay stub that was attached to your check.
You may be able to get a stub online
The pay stud should show both straight time and overtime hours and pay.
Divide the straight time pay by the straight time hours.
The Hourly Wage is not required to determine the overtime amount. We suggest one to the solutions above to determine the overtime amount.
To post the overtime
Log into TurboTax
Click on Tax Home on the left sidebar.
Select Wages & Income.
Review/Edit or select W-2.
Enter your Employer ID.
The options for Snap a picture and Upload have step by step directions.
You can also select [Type it Myself] at the bottom of the screen.
Enter your employer's information.
Post the information from the W-2.
You may be prompted to double check certain information.
A sample of your tax due or refund will be posted for the data you have entered so far.
A Let's check for uncommon situations will come up.
This is where you will post overtime and other uncommon situations.
Continue through the interview if any of these apply.
This will bring you back to the summary page.
Please see this article for additional information about No Tax on Overtime and Treasury IRS Guidance
4 weeks ago
1 Cheer
From Cindy at Turbotax: She said the IRS has these forms and they are the ones that send them to Turbo Tax. In checking on the status of the 1099-R, and after she asked a couple other folks, wa...
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From Cindy at Turbotax: She said the IRS has these forms and they are the ones that send them to Turbo Tax. In checking on the status of the 1099-R, and after she asked a couple other folks, waiting a long time, they told her the availability of the form's date was today, Jan 21st, but they said the programmers need to input the entire form into the code and it may take another 2 days to do that so look starting January 23rd. That's all I got.
4 weeks ago
So you entered this on a 1099-MISC or a 1099-NEC? The interview process for 1099-R is not ready yet, so I wonder if something is carrying over to your situation, even though you are not using a 1...
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So you entered this on a 1099-MISC or a 1099-NEC? The interview process for 1099-R is not ready yet, so I wonder if something is carrying over to your situation, even though you are not using a 1099-R. Still, so far as you can tell, your return appears to be accurate, right? @drelocks
4 weeks ago
See this post for new information https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/on-investment-and-savings-for-crypto-i-use-koinly-and-it-used-to-be-csv-files-now-i-c...
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See this post for new information https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/on-investment-and-savings-for-crypto-i-use-koinly-and-it-used-to-be-csv-files-now-i-can-not-use-that/01/3728836
4 weeks ago
Need Help
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4 weeks ago
It is called transferring--not importing. You can transfer your 2024 tax file from desktop to 2025 online TT at the very beginning before you enter any other 2025 information.
How to transfe...
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It is called transferring--not importing. You can transfer your 2024 tax file from desktop to 2025 online TT at the very beginning before you enter any other 2025 information.
How to transfer last year’s return?
https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/transfer-last-year-return-turbotax-online/L279eUvY2_US_en_US?uid=m6ayqk1s
4 weeks ago
I think I answered my own question. The reason it is shown as income, is because the IRS wants to know if I used it for anything else but medical expenses. If I select I used for none medical, I woul...
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I think I answered my own question. The reason it is shown as income, is because the IRS wants to know if I used it for anything else but medical expenses. If I select I used for none medical, I would be hit with the 20% tax. Thanks everyone for your commitments.
4 weeks ago
I am seeing this issue continue into this year. My Home Office deduction is being disallowed due to no positive income, but my business is profitable.
4 weeks ago
1 Cheer
There is a dollar limit on the amount of your work-related expenses you can use to figure the Child and Dependent care credit. For 2024, this limit is the lower of actual expenses or $3,000 if you ha...
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There is a dollar limit on the amount of your work-related expenses you can use to figure the Child and Dependent care credit. For 2024, this limit is the lower of actual expenses or $3,000 if you had one qualifying person, or $6,000 if you had two or more qualifying persons.
If you received dependent care benefits that you exclude or deduct from your income (such as a contribution to a Dependent Care FSA), you must subtract that amount from the dollar limit that applies to you.
In your case, the dollar limit is $3,000 and if your FSA deduction is $3,000 or more, you can no longer claim the Child and Dependent care credit.
Please read this IRS publication page 12, for more information.
4 weeks ago
Don't quote me but I just heard from an Adminstrator "by the end of the day". So keep checking.
4 weeks ago
Yes, you can still use your mortgage credit certificate carryforward after you sold the house, but only for the interest for the months the home remained your main home and IF you are within the 3 ye...
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Yes, you can still use your mortgage credit certificate carryforward after you sold the house, but only for the interest for the months the home remained your main home and IF you are within the 3 year carryforward period. So if you lived in the house for all of 2024 and moved in 2025, but the certificate was from 2024, you would be able to use the entire carryforward amount from 2024. This would have already been "earned"
Since you sold the home, you will need to fill out form 8828 Recapture of Federal Mortgage Subsidy. If all of the following apply, you will need to pay back some or all of the tax benefits you received from claiming this credit.
You sold the house within the first 9 years of ownership
You made a profit on the sale of the home
Your income has increased above the level that was in your Notice to Mortgagor of Maximum Recapture Tax or Recapture Tax Notice
4 weeks ago
Yes, Box 14 should be your contributions. Your benefits could be several places:
Box 1 of the w2, a 1099-G, or for private plans, even 1099-MISCor 1099-NEC.
4 weeks ago
You should be able to enter the correct amount of allowable interest for Schedule A under the Mortgage Interest topic in TurboTax Online. Even though a portion of the interest was carried over from S...
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You should be able to enter the correct amount of allowable interest for Schedule A under the Mortgage Interest topic in TurboTax Online. Even though a portion of the interest was carried over from Schedule E, you can change the Schedule A amount manually. When your mortgage interest is being limited, TurboTax displays a message and provides an "Adjustment" box for you to enter your calculated interest deduction. To access this page, return to the 1098 topic and click Continue/Done at the bottom of the list of 1098s that you have entered. Answer any questions about your loan, then continue to the page "Your mortgage interest is being limited," you can enter your calculated deduction in the box under "Your adjustments". See a screenshot of this page below.