All Posts

In general, you have to pay in 100% of the tax liability of the previous year or 90% of the liability for the current year on a timely basis to avoid a penalty for late payment of tax. As a practical matter, the IRS will calculate the penalty based on what they show in their records. So, the payment you make through TurboTax is only an estimate. If you owe less than that, the IRS will refund you any extra that you paid with the return. I can't tell from what you said if you owe a penalty, but the IRS will determine that based on the amounts you paid in and when they were paid.

I'm having a similar issue.  I'm trying to get my financial info from Vanguard,  Going through the download process, Intuit generates the message "Success! We got your tax data. You can now return to TurboTax."  But when I go back to TT, that program does not have the data and I am still "stuck" at the page wanting to start the download that Intuit says it has completed....   What is going on?  

HOW CAN I DOWNGRADE TO A LOWER VERSION https://ttlc.intuit.com/turbotax-support/en-us/help-article/change-service-level/downgrade-lower-priced-version-turbotax-online/L2IDaMvkt_US_en_US?uid=m6ilzady     WHY DO I HAVE TO PAY?  I WANT THE FREE EDITION   The information that you can enter in Free Edition is pretty limited now.  Thanks to the tax laws that began for 2018 returns, there are no more simple Form 1040EZ or 1040A's.  Everything goes on a Form 1040 that has three extra "schedules" with it, and if you need any of those schedules, you are not able to use the Free Edition.  Using the standard deduction instead of itemizing does NOT mean you will not need any of those schedules.   If you started in the Free Edition and entered any data that required any extra forms or schedules, you have to upgrade to a paid version and if you are watching the screens carefully you are alerted to the upgrade.       TurboTax Online: Important Details about Filing Simple Form 1040 Returns If you have a simple Form 1040 return only (no forms or schedules except as needed to claim the Earned Income Tax Credit, Child Tax Credit or student loan interest), you can file for free yourself with TurboTax Free Edition, or you can file with TurboTax Live Assisted Basic at the listed price. Roughly 37% of taxpayers are eligible. Examples of situations included in a simple Form 1040 return (assuming no added tax complexity): W-2 income Interest, dividends or original issue discounts (1099-INT/1099-DIV/1099-OID) that don’t require filing a Schedule B IRS standard deduction Earned Income Tax Credit (EITC) Child Tax Credit (CTC) Student loan interest deduction Taxable qualified retirement plan distributions   Examples of situations not included in a simple Form 1040 return: Itemized deductions claimed on Schedule A, like charitable contributions, medical expenses, mortgage interest and state and local tax deductions Unemployment income reported on a 1099-G Business or 1099-NEC income (often reported by those who are self-employed, gig workers or freelancers) Stock sales (including crypto investments) Income from rental property or property sales Credits, deductions and income reported on other forms or schedules        How can I see my TurboTax  fees?  https://ttlc.intuit.com/turbotax-support/en-us/help-article/intuit-account-billing/review-fees-turbotax-online/L1XnIzgzg_US_en_US?uid=m682vq7k   If your TurboTax fees are higher than expected, you can reduce them by removing add-ons     (BEFORE you e-file) :   Remove Premium Services Remove MAX Defend & Restore Remove a state Remove PLUS Help & Support Remove Pay With Your Refund     Or—-Use this IRS site for other ways to file for free.  There are 8  free software versions available from the IRS Free File site   https://apps.irs.gov/app/freeFile/  

If you're an employee and your W-2 is missing your job's EIN information, you can try these steps to locate the missing number from the TurboTax help article, How do I find my employer's EIN or Tax ID?:   Where else can I find my employer's EIN while I'm waiting for my W-2? Try asking your employer (specifically, their payroll, human resources, or accounting department).   Get it from last year's W-2, if you're still working for the same company. This is assuming your employer kept the same EIN (most of them do).   If you work for a publicly traded company (i.e., it has a stock symbol), try an online search for their 10-K.              On the 10-K, look for IRS Employer Identification No. or similar. It's usually on the first page. (This might not work if your employer has multiple EINs.)   If your employer went bankrupt, do a search for related court documents. Oftentimes the EIN will be on the docket sheet, along with their name and address.   We don't maintain, nor are we able to retrieve, your employer's EIN.   If you're a business, and you need help retrieving your own IRS EIN to issue W-2's to employees, you can follow this guidance from the IRS Employer Identification Number info page:    Lost or forgot EIN   To find a missing EIN, try these steps: Look for it on the notice we issued when you applied for an EIN Contact the bank that has your business account Check with agencies where you’ve applied for state or local licenses Look on past business tax returns If you still can’t find it, call us (IRS) at 800-829-4933 Monday to Friday 7 a.m. - 7p.m. local time. Residents of Alaska and Hawaii should follow Pacific time. We’ll verify your identity and provide the number over the phone if you’re authorized to receive it.

No one at TurboTax knows.   TT gets no information from the IRS after you file your tax return.  Track your refund on the IRS site.   TurboTax gives you an estimated date for receiving your refund based on a 21 day average from your date of acceptance, but it can take longer.  “21 days”  is not a promise from TurboTax or the IRS.      First, check your e-file status to see if your return was accepted:  https://turbotax.intuit.com/tax-tools/efile-status-lookup/   Once your federal return has been accepted by the IRS, only the IRS has any control.  TurboTax does not receive any updates from the IRS. Your ONLY source of information about your refund now is the IRS.     You need your filing status, your Social Security number and the exact amount  (line 35a of your 2025 Form 1040) of your federal refund to track your Federal refund:    https://www.irs.gov/refunds   To track your state refund:     https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_US_en_US?uid=lt447ebr   If you chose to have your TurboTax fees deducted from your federal refund, that will take some extra time, while the third party bank handles the refund processing     https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/refunds-take-longer-others/L14YlqFrH_US_en_US?uid=lexdr7zh . https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/irs-refund-taking-longer-21-days/L2vRAJbdU_US_en_US?uid=lexe7lst         If you are getting earned income credit on line 27 or additional child tax credit on line 28 You are subject to the delay required by the PATH act.  Do not expect your refund before early March   https://ttlc.intuit.com/turbotax-support/en-us/help-article/internal-revenue-service/federal-refunds-delayed-due-path-act/L5jnQJsBi_US_en_US   Note:  “Accepted” is not the same as “approved”.  TurboTax tells you the e-file was accepted if the IRS deems that there is enough information on the return for them to take it in for processing.   Only the IRS can approve of the refund, which is a later stage of processing.  If the IRS approves your refund they will provide a date for the refund to be issued.   FROM THE IRS WHERE’S MY REFUND SITE: https://www.irs.gov/wheres-my-refund How it works Where's My Refund shows your refund status: Return Received – We received your return and are processing it. Refund Approved – We approved your refund and are preparing to issue it by the date shown. Refund Sent – We sent the refund to your bank or to you in the mail. It may take 5 days for it to show in your bank account or several weeks for your check to arrive in the mail.    

This was in reference to the question of the 1095-a insurance from the marketplace on the federal tax form  my wife was only in the policy for 3 months and it was asking the percentage of shared cost, I think I answered it correctly it 50/50 I just wanted clarification  thank you 

To report winnings use the following path in TurboTax Online: Select Federal from the left navigation menu. Click on Wages & Income. Scroll down to the Less Common Income section and click Show More. Click Start or Revisit next to Gambling Winnings. Answer Yes to "Did you win money or other prizes from gambling or lotteries in 2025?". If you had gambling losses, you can deduct gambling losses, but there are strict IRS limitations. You can only deduct losses if you itemize your deductions on Schedule A. If you take the Standard Deduction, you cannot deduct any losses, but you must still report all winnings. Also, you cannot deduct more in losses than the total amount of winnings you report. To claim a deduction, the IRS requires you to keep an accurate diary or log of your winnings and losses, including dates, locations, and receipts or wagering tickets.   If you have losses, after entering your winnings, continue through the screens to enter your gambling losses for the year. TurboTax will automatically determine if itemizing your losses provides a better tax outcome than taking the standard deduction based on your overall tax situation.

You cannot change or add anything on the return that you just e-filed, nor can you stop it.  It is too late, just like when you put an envelope in a US mailbox on the corner.  The IRS does not allow you to take it back.   If you left out a W-2, a 1099G, or a dependent, or a 1099 etc…DO NOT change your return while it is “pending.”  The changes will go nowhere.   Now you have to wait until the IRS either rejects or accepts your return.  If your return is rejected, you will be able to go into your account and make the necessary changes to your tax return and re-submit your return.     If the IRS accepts your return, however, then you have to wait longer until it has been fully processed and you have received your refund.  THEN you can prepare an amended tax return and e-file or mail  it in. You have to be able to work from that return exactly the way it was when it was e-filed originally.  You will need to use a form called a 1040X.     Meanwhile, DO NOT go in and start changing anything on your return in the system, or you will make a mess for yourself.  Sit tight and wait until you see what the IRS does with the return you just e-filed   The Form 1040X you need becomes available in late February,  But wait until your return has been processed.

You can erase your return and start over as long as you haven't submitted payment, deducted the TurboTax fee from your refund, or registered your product.     Select Tax Tools from the left menu, then Tools. Select Clear & Start Over. Select Yes to confirm.  How do I clear and start over?

I can't say for sure, but it looks to me like that entry is for Overtime - OverTime INFO.  If you  worked overtime that would make sense.   Select "Overtime" or Other (not classified)" as the category for the Box 14 entry.  Later, in the "Let's check for uncommon situations" section, check the "Overtime" box and enter the amount of your overtime, up to $12,500.  You can always contact your employer to verify the Box 14 entry.