All Posts

If you don't have an HSA and don't need to enter any HSA data, please do the HSA Reset, a procedure to delete all HSA data on your return.   HSA RESET ***Reset***   1. make a copy of your W-2(s) (if you don't have the paper copies) 2. delete your W-2(s) (use the garbage can icon next to the W-2(s) on the Income screen)   *** Desktop/Windows***   3. Go to the upper right and click on Forms, and  4. Select the desired form (1099-SA (if one), 8889-T, and 8889-S (if one)). Note the Delete Form button at the bottom of the form’s screen. *** Desktop/Mac*** 3. Switch to Forms Mode by selecting the Forms icon. 4. From the menu, select the form (1099-SA (if one), 8889-T, and 8889-S (if one)) you want to remove (if you don't see it, select Open Form at the top). From the Forms menu, select Remove [form name].   *** Online ***   3. go to Tax Tools (on the left), and navigate to Tools->Delete a form  4. delete form(s) 1099-SA (if one), 8889-T, and 8889-S (if one)   5. go back and re-add your W-2(s), preferably adding them manually 6. continue with your return

To enter, edit or delete estimated taxes paid (Federal, State, Local) - Click on Federal Taxes (Personal using Home and Business) Click on Deductions and Credits Click on I'll choose what I work on (if shown) Scroll down to Estimates and Other Taxes Paid On Estimated Tax Payments, click on the start or update button   On Federal estimated taxes for 2025 (Form 1040-ES), click the start button   Federal estimated taxes paid are entered on Form 1040 Line 26

Estimated tax payments that you paid towards your 2025 federal or state taxes will be entered in the Deductions & Credits Section of TurboTax. Follow the instructions below:   Go to the Deductions & Credits Section  Select Estimates and Other Income Taxes Paid Select Start under  estimated tax payments Select Start next to the type of estimated tax payments that you made.   Refer to the TurboTax Help article Where do I enter my estimated tax payments? for detailed instructions.

Because of the new "No Tax on Tips" legislation that was passed to allow taxpayers to deduct tips that were included in their reported income, TurboTax has added questions to the program to help ensure that anyone who may have tips included in their income can identify them.    See this TurboTax tips article for more information.  

I have not found any clear-cut definitive answer to your question.  Since New York conforms to tax rules prior to the Tax Cuts and Jobs Act passed in late 2017, I found IRS publication 529 for 2017 that discusses miscellaneous expenses.  On page 10 of Publication 529 (2017), one of the deductions subject to the 2% limitation is "Investment Fees and Expenses, which states:   "You can deduct investment fees, custodial fees, trust administration fees, and other expenses you paid for managing your investments that produce taxable income."   Unless you have very significant expenses for your IRA that exceed 2% of your income for the year, it is very unlikely that you will derive much, if any, tax benefit from this deduction.  Because I am unable to find specific mention of your particular deduction, I cannot make a recommendation as to whether you should move forward with trying to claim IRA custodial fees as an itemized deduction for the state of New York tax return.

Make sure you have entered your child as a dependent in My Info, and that you have entered the child's Social Security number.    Careful— do not say that your child’s SSN is not valid for employment.  If your child was born in 2025 make sure you said he lived with you the whole year.  There is an oddly worded question that asks if the child paid over half their own support.  Say NO to that question.   If your dependent was a full-time college student, make sure you were careful on the MY INFO screen for “Uncommon situations” and that you indicated there that they were a student.   Have you entered income from working in 2025?  If not,  you will not receive an income tax refund based on having dependent children.     The maximum amount of the child tax credit is now $2200 per child; the refundable “additional child tax credit” amount is $1700.   In order to get that credit, you have to have income from working.   Take the amount you earned from working.   Subtract $2500.   Multiply the rest by 15%.  That is the additional child tax credit per child that you canget—- up to the maximum of $1700 per child.   If the amount you earned from working was low, you will not get the full $1700 per child.    If your child is older than 16 at the end of 2025, you do not get the CTC.  But you may still get the non-refundable $500 credit for other dependents instead.   https://ttlc.intuit.com/turbotax-support/en-us/help-article/taxation/child-tax-credit/L2lNhfGDl_US_en_US?uid=m68dfq2u   https://ttlc.intuit.com/turbotax-support/en-us/help-article/taxation/additional-child-tax-credit/L6xFeMFEf_US_en_US?uid=lqnuygah https://www.irs.gov/help/ita/does-my-childdependent-qualify-for-the-child-tax-credit-or-the-credit-for-other-dependents     And for the Earned Income Credit—-   https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-credits-deductions/qualifications-earned-income-credit-eic-eitc/L7w4BFP32_US_en_US?uid=m62rmz09   https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit/use-the-eitc-assistant   https://www.irs.gov/pub/irs-pdf/p596.pdf   Look at your 2025 Form 1040 to see the child-related credits you received   PREVIEW 1040 https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/preview-turbotax-online-return-filing/L77WCkvnu_US_en_US?uid=m681fkhr   Child Tax Credit line 19 Credit for Other Dependents line 19 Earned Income Credit line 27 Additional Child Tax Credit line 28  

You can enter tax withheld on your form 1099-B by following these steps:   In TurboTax Online, open your tax return Click on Federal in the left-hand column, then on Wages & Income Scroll down to locate the section Investment Income and click on the arrow on the right Click Start next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other​​​​​​​ When entering your form 1099-B, on the entry screen, check the box  I have other boxes on my 1099-B to enter and more boxes will appear so you can enter the taxes withheld in box 4.  

It depends. If you are using TurboTax Online, set up two additional accounts to file Married Filing Separate, then you can see the differences between filing jointly or separately.   For TurboTax Desktop you can use the What-If Worksheet (it may appear as What-If Wks).     Keep in mind that some states can be a determining factor. For example, if both spouses are working, in Ohio (OH) it could be an overall better result to file separately. Many states will not function this way and could cause a higher overall tax. Be sure to take into account your state returns as well. Is it better for a married couple to file jointly or separately? How can I compare married filing jointly with married filing separately? @PRB-baker 

I SHOULD HAVE SAID I COULD BE CLAIMED AS A DEPENDENT   Did you say you could not be claimed as someone else’s dependent, but it turns out your parent(s) can claim you?  Now your parents’ return is being rejected when they e-file, or it will be rejected.    Your part in fixing this will be to wait until the IRS has fully processed your tax return, and then you must amend your own return.  You use a form called a 1040X.   You will go to MY INFO and go through the interview questions to the one that asks if someone else can claim you as a dependent.  Say YES.   Meanwhile, your parent(s) do not need to wait for you to amend.  Waiting will not help them at all.   They can either print, sign and date their return in ink, and file it by mail.   OR   GET IP pin in order to e-file if your dependent’s SSN was claimed on another return   https://www.irs.gov/newsroom/irs-takes-steps-to-help-prevent-refund-delays-by-accepting-duplicate-dependent-returns-with-an-ip-pin-for-2025-filing-season-taxpayers-encouraged-to-sign-up-soon-for-ip-pin-online-account     https://www.irs.gov/identity-theft-fraud-scams/get-an-identity-protection-pin     If you are the parent whose e-file has been rejected—- follow the steps above to file your own tax return that claims your child.   If it is any comfort, you (and your parents) are among many young tax filers who make this mistake.  We will be seeing plenty of posts just like yours.   And posts from the parents whose e-files were rejected....   The Form 1040X is scheduled to be available on March 4.  The date is subject to change, so check on 3-4 to see if it is ready.   Before that, do not change anything at all on your return.  

You can file a single member LLC online in Turbotax Premium or the Turbotax Home & Business desktop version.  A single member LLC is treated as a disregarded entity for tax purposes so you will enter the information on your personal tax return.  See Single member limited liability companies.  

The TurboTax date for receiving a federal tax refund is only an estimate.   Only the IRS and your State control when and if a Federal or State tax refund is Approved and Issued.   Once a tax return has been Accepted by the IRS or a State, TurboTax receives no further information concerning the tax return or the status of any tax refund.   If accepted by the IRS use the federal tax refund website to check the refund status - https://www.irs.gov/refunds If accepted by the state use this TurboTax support FAQ to check the state tax refund status - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_...   After the tax return has been Accepted by the IRS (meaning only that they received the return) it will be in the Processing mode until the tax refund has been Approved and then an Issue Date will be available on the IRS website.