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When I fill out my W2's they save with 2024 date.
This is my Second Year of filing FED and STATE return for a Traditional IRA (Pre-Tax) to ROTH IRA Conversion. NJ State has already taxed my Federal TSP contributions, however, NJ Division of Taxation... See more...
This is my Second Year of filing FED and STATE return for a Traditional IRA (Pre-Tax) to ROTH IRA Conversion. NJ State has already taxed my Federal TSP contributions, however, NJ Division of Taxation requires filing taxes on TSP earnings.  Therefore, a partial taxable amount is required (i.e. NOT a full conversion of the ROTH Conversion Amount). The PROCESS of seamlessly transferring tax data  from the TurboTax FED forms in to the TurboTax STATE forms lacks clarity; i.e.  in other than patchy messages from "reddit users" etc.    Is there a more formal discussion about handling this TurboTax FED to NJ State form data transfer and any tips/cautions on the full process.   I know this is a big ask!  Any help , suggestions or link updates would be appreciated.
Please clarify:  The official CSV (which was the net after subtraction of my loan amount) is $6k.  How did you compute the “full CSV is $15K”?  Note:  This is a Whole Life policy.  +  GUARANTEED CAS... See more...
Please clarify:  The official CSV (which was the net after subtraction of my loan amount) is $6k.  How did you compute the “full CSV is $15K”?  Note:  This is a Whole Life policy.  +  GUARANTEED CASH VALUE     $9k +  CASH VALUE 0F PAID UP ADDITIONS          $0.5k +  CASH VALUE OF DIVIDEND ACCUMULATIONS          $8.5k -  LOAN BALANCE       ($12k) =  TOTAL CASH SURRENDER VALUE     $6k
If you are a US citizen or a resident of the US then you are required to report any income that you receive on a tax return.  You may be entitled to deductions for taxes paid in other jurisdictions b... See more...
If you are a US citizen or a resident of the US then you are required to report any income that you receive on a tax return.  You may be entitled to deductions for taxes paid in other jurisdictions but you are still required to file a tax return.   Here is an article on who must file a US tax return.
Any bank accounts in Canada may need to be reported on your annual foreign disclosure statements in the USA (FBAR & Form 8938) In addition any income generated from these accounts would be taxable in... See more...
Any bank accounts in Canada may need to be reported on your annual foreign disclosure statements in the USA (FBAR & Form 8938) In addition any income generated from these accounts would be taxable in the USA   This account will be subject to taxation and foreign disclosure if you are filing as a US tax resident.   Question: what form to use when using TURBOTAX online for reporting? Secondly, what currency to use US $ or CDN $ 
You will use Form 8919 to report the uncollected FICA taxes. You would need to amend your 2024 tax  return to include this form. To report in Turbo Tax on your 2024 return.   Go to Federal > W... See more...
You will use Form 8919 to report the uncollected FICA taxes. You would need to amend your 2024 tax  return to include this form. To report in Turbo Tax on your 2024 return.   Go to Federal > Wages & Income. Scroll down to Less Common Income and select Miscellaneous Income, 1099-A, 1099-C. Choose Other income not reported on a W-2. When asked about the reason, select the option that matches: "My employer reported my wages on a W-2, but did not withhold Social Security and Medicare taxes." Enter your employer's EIN and the total wages from Box 1 of your W-2. TurboTax will automatically generate Form 8919 and carry the tax amount to your Form 1040.          
@SDCressey1 wrote: TurboTax is REALLY SLOW at updating the subject software... Do you suppose it's limited to TurboTax (Intuit)? It is NOT. Other developers are also "slow".
@Martha 24 wrote: What the heck....January 21st???  Turbo Tax really isn't user friendly.  Neither is anything else. FYI, other tax prep s/w developers have also not updated a number of secti... See more...
@Martha 24 wrote: What the heck....January 21st???  Turbo Tax really isn't user friendly.  Neither is anything else. FYI, other tax prep s/w developers have also not updated a number of sections in their programs.
Are donations made to a Charitable Organization in Canada, eligible for claim on the US side?
I already report in Canada. Does it have to be reported on the US side, as well?
H&R Block is having the same problem. It stems from the Government's late info being supplied.
TurboTax is REALLY SLOW at updating the subject software, in particular for pensions and annuities.  Why don't they just code their software using the draft IRS forms available on the IRS website ???... See more...
TurboTax is REALLY SLOW at updating the subject software, in particular for pensions and annuities.  Why don't they just code their software using the draft IRS forms available on the IRS website ???  I have already downloaded these forms.  When the final versions of the forms are available, update the software again.  I bet there will not be much difference between the draft forms and the final forms.
Yes, if you are still paying for his living expenses then he is still your dependent.  And yes, if you paid his tuition and fees that will come as a form 1098-T and you will deduct that on your taxes... See more...
Yes, if you are still paying for his living expenses then he is still your dependent.  And yes, if you paid his tuition and fees that will come as a form 1098-T and you will deduct that on your taxes as well.    
They changed the update from Jan 14 to Jan 21.
OK got it! Thank you so much for your timely response. 
I tired to enter my 1099-r info today and could not.  I contacted Customer Support at Turbo Tax and according to Turbo Tax as of 9:23 a.m. today there is still no update available. They told me that ... See more...
I tired to enter my 1099-r info today and could not.  I contacted Customer Support at Turbo Tax and according to Turbo Tax as of 9:23 a.m. today there is still no update available. They told me that I will receive an email when the update is in place and ready for use.
My son is 18 and in college. We are helping pay for his college tuition and other college-related expenses.  1. Can we still add him as a dependent? 2. Can we deduct the college tuition and other c... See more...
My son is 18 and in college. We are helping pay for his college tuition and other college-related expenses.  1. Can we still add him as a dependent? 2. Can we deduct the college tuition and other college-related expenses on our tax return?
Hi @GabiU,   Pleased to find that after updates today 1/14/2026, the issue with Form 8959 has been resolved for 2025 TurboTax desktop for Windows.  Thank you very much for your help in addressing t... See more...
Hi @GabiU,   Pleased to find that after updates today 1/14/2026, the issue with Form 8959 has been resolved for 2025 TurboTax desktop for Windows.  Thank you very much for your help in addressing this issue!