All Posts

@Sweet300 was looking back at this thread and just wanted to clarify, if you have ES due from Q1/2 you need to pay those ASAP to stop the penalty accruing and not wait until Sep - the Sep Q3 deadline is for the Q3 portion of the ES.

Here is an article that may help https://www.kiplinger.com/taxes/tax-deduction-change-for-those-over-65   The "extra" amount added for 65 or older increases slightly for 2025, and there is a "bonus" added deduction of up to $12,000 for those 65 or older who file MFJ for 2025 to 2028, which is phased out over certain income levels.   Whether all of that "bonus" amount will go to line 12 on your Form 1040 or somewhere else, we do not know.   There will be lots of tax form changes and lots of updates to come.  

Make sure you are logged in using the same credentials that were used when you prepared your original return.  Please see this link for guidance.   Then follow these steps to start your amended return.    

@swindco wrote: The Amounts that was provided as an answer is NOT what I am seeing on various web pages.  The New OBBB signed into law on 4 July 25 changed the standard deduction amounts and I am seeing different amounts.  I am looking for what I will be using when I file my 2025 taxes in 2026.  Please provide what I will use for:  Married filing Jointly and both over 65.  Thanks in advance I think you are correct. I don;t know that the IRS has issued official revised figures.  There was a change made to correct for a missed inflation adjustment at some point in the past, I think.  It would be best to wait for the official word from the IRS. 

2021: file an amended return, report the excess contribution on form 5329 and pay the 6% penalty 2022: file an amended return, report the ongoing excess on form 5329 and pay the 6% penalty 2023: file an amended return, report the ongoing excess on form 5329 and pay the 6% penalty 2024: file an amended return, report the ongoing excess on form 5329 and pay the 6% penalty   2025: It is too late to use the special procedure to remove excess plus earnings.  You just have a regular withdrawal of whatever dollar amount.  When you report that withdrawal, it will also go on form 5329 and clear the ongoing excess balance.  The withdrawal itself follows the normal Roth IRA rules and it will not be taxed as long as the withdrawal is less than your combined historical contributions. 

The Amounts that was provided as an answer is NOT what I am seeing on various web pages.  The New OBBB signed into law on 4 July 25 changed the standard deduction amounts and I am seeing different amounts.  I am looking for what I will be using when I file my 2025 taxes in 2026.  Please provide what I will use for:  Married filing Jointly and both over 65.  Thanks in advance

@user17525894561 This is the TurboTax US user community website. Go to this TurboTax Canada website for assistance with a Canadian tax return or the TurboTax Canada editions - https://turbotax.community.intuit.ca/turbotax-support/en-ca

I have been trying to get to talk to an agent ion canadian tax return, but is impossible for that stp machine to connect me to an agent. your policy about netfiling is outdated and I need to file my taxes, all a wanted was to talk to an agent to let them know this so i can file them, here is the lates information about it directly from the CRA website. Non-residents can now use EFILE and NETFILE to submit their 2024 income tax and benefit returns The CRA is constantly improving its services to help Canadians file their income tax and benefit returns. By doing so, taxpayers are able to get any refunds, and benefit and credit payments they may be entitled to. This tax season, the CRA is making tax-filing easier and faster for non-residents. Effective February 2025, EFILE restrictions have been lifted for deemed residents of Canada. This means that these non-residents will be able to file their individual income tax and benefit returns for 2024 and subsequent tax years through EFILE, subject to some exclusions. Also effective February 2025, NETFILE restrictions have been lifted for emigrant taxpayers. Individual income tax and benefit returns for the 2024 tax year will be the first year accepted through NETFILE for emigrants. Together with the changes made on March 28, 2024, emigrants can now use EFILE or NETFILE to submit their returns. Please update this so i can file my taxes, as fast as you can, thank you.

  You have to access your own account and/or  print it for yourself using exactly the same account and user ID that you used when you prepared the return.    https://myturbotax.intuit.com/   Start a 2024 return online and enter some personal information  so that the menu on the left opens up and lets you access your past year returns.   https://ttlc.intuit.com/community/prior-year-return/help/how-do-i-access-my-prior-year-return/01/27010     https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US?uid=m5y4ch1y   Many people have multiple TT accounts and forget how to access them.  Log out of the account you are in now.     https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/many-intuit-accounts-turbotax/L9aVfKS1Z_US_en_US?uid=ll5g6zcx Account Recovery     Or did you use the desktop version of TurboTax?  If so, the files are on your own hard drive or any backup device you used like a flash drive.     https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/find-last-year-tax-data-file-tax-file-computer/L0XJvPaJr_US_en_US?uid=m6gufxei     https://ttlc.intuit.com/turbotax-support/en-us/help-article/data-systems/find-tax-data-file-mac/L4VNGm33S_US_en_US?uid=m6guhab0 You can get a free transcript from the IRS or for a fee of $30, an actual copy of your tax return. https://www.irs.gov/individuals/get-transcript https://www.irs.gov/pub/irs-pdf/f4506.pdf       SAVE YOUR TAX RETURNS ! EVERY year before mid-October you should save a copy of your tax return as a pdf and print a copy of it for your records.  That way you will not be searching online frantically when you need it for a lender, FAFSA forms, your next tax return, etc.    https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US?uid=m6guj526   https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US?uid=m78eb8pc In order to transfer a past year return to the new return you need the tax file   https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-turbotax-online-return-tax-data-file/L4xwOG3LF_US_en_US?uid=m6guk3xl   NOTE:  TurboTax and the IRS save returns for seven years.  Returns older than seven years are purged.  

Did you file a 2021 federal return?   You can get copies of your W-2's if you pay the IRS for a copy of your 2021 federal return. You can pay the IRS $30 for an actual copy of your tax return which will include copies of your W-2’s      https://www.irs.gov/pub/irs-pdf/f4506.pdf      Or you can pay for copies from Social Security: To get a copy of a W-2 from Social Security https://faq.ssa.gov/en-us/Topic/article/KA-02501   https://www.irs.gov/help-resources/tools-faqs/faqs-for-individuals/frequently-asked-tax-questions-answers/irs-procedures/transcript-or-copy-of-form-w-2/transcript-or-copy-of-form-w-2