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April 8, 2025
5:13 AM
If your preparing a separate return for your child, there will not be a place to enter the parents income.
In My Info for the child you should indicate that someone else can claim me on their re...
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If your preparing a separate return for your child, there will not be a place to enter the parents income.
In My Info for the child you should indicate that someone else can claim me on their return.
You can then still claim them as a dependent.
They will pay there own taxes off of their return.
April 8, 2025
5:12 AM
If no tax withholding is present on a particular 1099-R as is the case here, the 1099-R is not to be attached. For a Form 1099-R has tax withholding present, TurboTax includes the necessary details ...
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If no tax withholding is present on a particular 1099-R as is the case here, the 1099-R is not to be attached. For a Form 1099-R has tax withholding present, TurboTax includes the necessary details as an electronic attachment.
April 8, 2025
5:08 AM
Are you working on a Canadian return or are you trying to import forms from RBC into a US return?
April 8, 2025
5:08 AM
TT is saying take the AOC and child pays tax on the excess 529 distribution earnings. Is this best/only way to handle this?
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April 8, 2025
5:08 AM
1 Cheer
Please follow these steps to enter the rollover:
On the "Did you move this money from a 401(k) to a Roth 401(k)?" screen answer "No"
On the "Did you move the money to a Roth IRA?" screen ...
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Please follow these steps to enter the rollover:
On the "Did you move this money from a 401(k) to a Roth 401(k)?" screen answer "No"
On the "Did you move the money to a Roth IRA?" screen answer "No"
When answering "No" to both questions then TurboTax knows that this was a rollover because of the code G.
Please be aware that the whole distribution will show as income in TurboTax on the summary screen which shows gross income, not taxable income. To verify that the entry is correct please look at form 1040 line 5b (taxable amount), it should show $0 and state ROLLOVER next to it.
To preview Form 1040 in TurboTax Online:
Click on "Tax Tools" in the left menu
Click "Tools"
Click "View Tax Summary" in the Tool Center window
Click on "Preview my 1040" on the left
April 8, 2025
5:08 AM
You cannot enter 999999 in TurboTax. Maximum value that TurboTax allows to enter is 999000
April 8, 2025
5:08 AM
Use the steps in the following TurboTax help article to enter your Social Security income:
Where do I enter an SSA-1099, SSA-1099-SM, or SSA-1099-R-OP1?
April 8, 2025
5:06 AM
Thanks for getting back. The house has been rented since 2012. It was inherited as part of a trust. I sold the house and an adjacent lot in 2024. I took a loss on the adjacent lot. So I son't...
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Thanks for getting back. The house has been rented since 2012. It was inherited as part of a trust. I sold the house and an adjacent lot in 2024. I took a loss on the adjacent lot. So I son't really know what it is asking for.
April 8, 2025
5:04 AM
Yes.
If the vehicle is used 100% for your business, the monthly lease payments can be deducted as a business expenses.
April 8, 2025
5:04 AM
Your rejected return never made to the IRS, so a direct payment was not made.
April 8, 2025
5:02 AM
If it is a 2023 Pre-owned, then no, you should not be getting the credit. The credit for used vehicles states that the credit should be at least 2 years old. So if you bought it in 2024, then it wou...
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If it is a 2023 Pre-owned, then no, you should not be getting the credit. The credit for used vehicles states that the credit should be at least 2 years old. So if you bought it in 2024, then it would need to be a 2022 or older. Did you enter it for a new credit? If you selected a new credit, the requirement is that you are the first owner, so even a 2023 leftover would qualify. The simplest thing is to delete the credit. You can do this by deleting form 8936.
From the left rail menu in TurboTax Online, select Tax Tools (You may have to scroll down on the left rail menu.)
On the drop-down select Tools
On the Pop-Up menu titled “Tools Center,” select Delete a Form
This will show all of the forms in your return
Scroll down to the form you want to delete
Select the Form
Click on Delete.
Always use extreme caution when deleting information from your tax return. There could be unintended consequences.
April 8, 2025
5:02 AM
HERE is a link for the steps to downgrade the program.
April 8, 2025
5:01 AM
You will find this question at the end of the retirement income interview: Click on "Search" on the top right and type “1099-R” Click on “Jump to 1099-R” Click "Continue" and enter the infor...
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You will find this question at the end of the retirement income interview: Click on "Search" on the top right and type “1099-R” Click on “Jump to 1099-R” Click "Continue" and enter the information from your 1099-R On the "Here's your 1099-R info" screen click "Continue" Answer "Yes" to "Any nondeductible Contributions to your IRA?" if you had any nondeductible contributions in prior years. Answer the questions about the basis from line 14 of your last filed Form 8606 and the value of all traditional, SEP, and SIMPLE IRAs TurboTax will also ask for the value in the IRA contribution interview if your made an excess contribution: Click on "Search" on the top right and type “IRA contributions” Click on “Jump to IRA contributions"
April 8, 2025
5:01 AM
Only an SSN. Still dealing with dame loop.
April 8, 2025
5:00 AM
Only you need to request to change your accounting procedure since only you kept records of the rental.
April 8, 2025
5:00 AM
they did! I had a balance due and $300 was my refund left! So my question is since they did that , still will be direct deposited or will be check mailed!?(I opted in for direct deposit)on turbo tax ...
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they did! I had a balance due and $300 was my refund left! So my question is since they did that , still will be direct deposited or will be check mailed!?(I opted in for direct deposit)on turbo tax thanks
April 8, 2025
4:59 AM
Please follow these steps in TurboTax Online:
Login to your TurboTax Account
Click on "Search" on the top right and type “1099-R”
Click on “Jump to 1099-R” and enter your 1099-R
En...
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Please follow these steps in TurboTax Online:
Login to your TurboTax Account
Click on "Search" on the top right and type “1099-R”
Click on “Jump to 1099-R” and enter your 1099-R
Enter the RMD amount for this account on the "Let's get more information about your Required Minimum Distribution (RMD)" screen
Continue until "How much of this distribution applied to your December 31, 2024 RMD?" screen and select "The entire distribution was an RMD" /or select "Only part of this distribution was a RMD" and enter the amount of RMD (if this distribution includes RMD for other IRA accounts then you included the amount here)
On the "Here's your 1099-R info" screen click "Continue"
On the "Did You Miss a Required Distribution From Any Retirement Accounts?" screen select "None of these plans failed to withdraw the RMD" if you met all of your RMD for 2024, otherwise select what is applicable.
If you have multiple IRAs but took the total RMD only from one IRA then select "An IRA..." on the "Did You Miss a Required Distribution From Any Retirement Accounts?" screen and click "Continue". On the "Total RMD for all other IRAs" screen enter the RMD from your other IRAs (where you didn't take a distribution from).
Please see Can an account owner just take a RMD from one account for additional information.
April 8, 2025
4:59 AM
No just a regular payment
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April 8, 2025
4:59 AM
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