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April 8, 2025
5:31 AM
Did you actually amend by using a Form 1040X? Or did you just make some sort of change to the return that you had just e-filed?
If you tried to make some sort of change to your return afte...
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Did you actually amend by using a Form 1040X? Or did you just make some sort of change to the return that you had just e-filed?
If you tried to make some sort of change to your return after you e-filed, the change went nowhere, so you did not send any direct debit information to the IRS after you e-filed. Mail a check or money order, or pay on the IRS payment site.
If you owe tax due, you have to pay it yourself by the filing deadline on April 15, 2025.
If you have federal tax due you can pay by mailing your payment with the 1040V voucher, (which has the address printed on it, having the payment taken out of a designated bank account, or you can pay directly on the IRS website.
https://www.irs.gov/payments
https://ttlc.intuit.com/community/tax-payments/help/how-can-i-pay-my-federal-taxes/00/26212
https://ttlc.intuit.com/community/tax-payments/help/how-do-i-pay-my-irs-tax-due-with-a-check-or-money-order/00/26403
To apply for a payment plan with the IRS
Apply Online for a Payment Plan
April 8, 2025
5:31 AM
The software automatically calculates the exemptions based on the number of people included on the return. The exemptions start to phase out based on income. See the chart below for the phase out thr...
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The software automatically calculates the exemptions based on the number of people included on the return. The exemptions start to phase out based on income. See the chart below for the phase out thresholds. If your income is above the amount listed for your filing status, your exemption will be limited. The exemption can be completely eliminated if your income is high enough.
April 8, 2025
5:30 AM
Which date did you choose and how did you do it? Has the amended return been processed yet? Did you e-file or mail the amended return?
It is possible that it will not be withdrawn until April...
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Which date did you choose and how did you do it? Has the amended return been processed yet? Did you e-file or mail the amended return?
It is possible that it will not be withdrawn until April 15th. It is also possible that if you paid it with the amendment, that it will be delayed until they process the amendment.
If you are unsure which date you chose, you can contact the IRS to find out when the payment will be withdrawn.
No, it is not the only way.
Usually it is best as the tax on the distribution for the student is usually less than the credit for the Taxpayer claiming the student.
The income on a 1099-Q, if t...
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No, it is not the only way.
Usually it is best as the tax on the distribution for the student is usually less than the credit for the Taxpayer claiming the student.
The income on a 1099-Q, if taxable, needs to be claimed by the person that was issued the 1099-Q, either owner or beneficiary. Form 1099-Q should have been issued to the person that made the distribution.
Room and Board expense can offset a distribution, but cannot be used for a credit.
In order for the student to not be a dependent, that student needs to have supplied more than half their own support and scholarships do not count as the student suppling support.
Type letme into the search and the program will show you a screen for the credit it is suggesting. You can change the allocation of expenses to the credit via this screen.
April 8, 2025
5:29 AM
PA Tax form asking about a Coverdell ESA payment in 2024. Never had Coverdell ESA. TurboTax requires I respond before going to next page. What to do?
April 8, 2025
5:28 AM
Please clarify your question.
Why do you have to start the DC tax over?
What is the issue with a 1099?
What type of 1099 is an issue?
1099-INT
1099-DIV
1099-R
Other ...
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Please clarify your question.
Why do you have to start the DC tax over?
What is the issue with a 1099?
What type of 1099 is an issue?
1099-INT
1099-DIV
1099-R
Other 1099
Please contact us again to provide some additional details.
April 8, 2025
5:28 AM
It seems you said "Yes" on the "Did You Change Your Mind?" screen (step 4 in TurboTax Online and step 9 in TurboTax Desktop) since you are getting the "How much of the $7000 you contributed to a trad...
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It seems you said "Yes" on the "Did You Change Your Mind?" screen (step 4 in TurboTax Online and step 9 in TurboTax Desktop) since you are getting the "How much of the $7000 you contributed to a traditional IRA for 2024 did you switch or "recharacterize" to a Roth IRA" question. Please don't enter anything on this screen (leave it blank) since you did not make a recharacterization.
Please see What are IRA conversions and recharacterizations? for additional information.
April 8, 2025
5:26 AM
1 Cheer
You will need a previous year depreciation schedule or report that shows how each asset was set up for depreciation as well as the amount of depreciation that has already been taken. Then, in TurboT...
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You will need a previous year depreciation schedule or report that shows how each asset was set up for depreciation as well as the amount of depreciation that has already been taken. Then, in TurboTax, when you are entering information in the Rental Income and Expenses section you will Add Assets.
When you are entering depreciation information into TurboTax, the program may somewhat restrict the choices you can make in order to guide you to entering something that is correct by the tax law. Trying to enter the information to match prior depreciation information can be tricky.
Here is a guide for how to go about entering depreciation into TurboTax in order to duplicate the entries that have been made on previous returns to continue the same depreciation.
Start from the Schedule C or Schedule E section of your return until you get to the Assets/Depreciation section.
Proceed to the point where you are adding an asset on the page titled Describe This Asset.
In order to enter the asset exactly as it has been reported in the past, choose the last option on the list, Intangibles, Other Property, then click Continue.
On the next page titled, Tell Us a Little More, select Other asset type, then click Continue.
Enter the detailed information about the asset: description, cost, date purchased or acquired. Click Continue.
Move forward with additional details on the next screen, then click Continue.
Select the appropriate Asset Class, then click Continue.
Choose the MACRS Convention, then click Continue.
Select the Depreciation Method, then click Continue.
Answer the question regarding Listed Property, then click Continue. There may be some additional background questions as well, keep going.
You will eventually come to a screen to confirm the Prior Depreciation, enter the data and click Continue.
Finally, you will see an Asset Summary screen with the current year depreciation amount listed. There is also a check-box here to Show Details. This will open a full description for the asset so you can verify that it matches the previously reported information. If it does not, you can choose to go Back and re-enter the data that needs to be changed.
April 8, 2025
5:25 AM
There is nothing that needs fixing. The IRS requires these to appear on Form 1041 line 8. Simply enter the taxable amount of these distributions as Other income so that TurboTax will place it on li...
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There is nothing that needs fixing. The IRS requires these to appear on Form 1041 line 8. Simply enter the taxable amount of these distributions as Other income so that TurboTax will place it on line 8 of Form 1041.
April 8, 2025
5:25 AM
I’m talking about state tax
April 8, 2025
5:24 AM
You can login at a friends home or a library using your ID and Password.
You can then print the return.
April 8, 2025
5:24 AM
i have 3 brokerage accounts where i have received foreign dividends with tax withheld. TT asks me to list the countries which i did. Then TT asks for the foreign tax withheld BY BROKERAGE ACCOUNT....
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i have 3 brokerage accounts where i have received foreign dividends with tax withheld. TT asks me to list the countries which i did. Then TT asks for the foreign tax withheld BY BROKERAGE ACCOUNT. However, after fill in the first brokerage it does not let me insert for the same country a different brokerage account. i believe that it is important to list by country not by brokerage account. What should i do if TT does not let me enter totals by country?
April 8, 2025
5:23 AM
@DanaB27 , I'm sorry I missed your message. Yes, at the end of entering our 1099-R's, Turbo tax asks: Tell us the value of your (both mine and spouse) traditional IRA Enter the total value of your...
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@DanaB27 , I'm sorry I missed your message. Yes, at the end of entering our 1099-R's, Turbo tax asks: Tell us the value of your (both mine and spouse) traditional IRA Enter the total value of your traditional IRA, SEP, and SIMPLE IRA accounts on December 31, 2024. This information is sent by mail on form 5498. Do not include ROTH IRA's. I think this question applies to our traditional IRAs' year end balance, not our 401/403's through work, correct? The only withdrawals we had were ROTH conversions, and a total distribution from an inherited IRA, but we did conversions in prior years as well. We did not have nondeductible contributions. I don't recall going through this turmoil last year, hope I didn't miss something. Thanks for taking the time to reply, I appreciate your help!
April 8, 2025
5:22 AM
While the Turbtax states "Principal Residence Address
Only complete this section if you are 18 or older and you have filed a California resident income tax return in the prior year.
• If your principa...
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While the Turbtax states "Principal Residence Address
Only complete this section if you are 18 or older and you have filed a California resident income tax return in the prior year.
• If your principal/physical residence address at the time of filing is the same as the address you provided at the top of this form, check the box provided on this line.
• If your principal/physical residence address at the time of filing is different from the address at the top of this form, provide the address of your principal/physical residence in the spaces provided.
• If you reside in a foreign country at the time of filing, enter the city, province or state, and country in the city field. Follow the country's practice for entering the postal code. Do not abbreviate the country name.
If you are under 18 years old or have not filed a California resident income tax return in the prior year, then leave the county and principal/physical address fields blank." It won't let me type a foreign address.
April 8, 2025
5:22 AM
It depends. What state are you in?
April 8, 2025
5:21 AM
Assuming you're using TurboTax Self-Employed or TurboTax Home & Business, are you entering directly on the business income or under personal income and linking the 1099-NEC to the business?
If you...
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Assuming you're using TurboTax Self-Employed or TurboTax Home & Business, are you entering directly on the business income or under personal income and linking the 1099-NEC to the business?
If you are linking it, trying entering it directly.
The income needs to get on your schedule C line 1b, but the 1099-NEC form itself is not duplicated on your 1040.
April 8, 2025
5:20 AM
Yes. If this is the first time that you are filling a tax return by yourself, you can put "0" as the AGI.
How do I find last year's AGI?
April 8, 2025
5:20 AM
Once you submit your return in TurboTax Online, we no longer have control of the return.
You can track your refund by Checking your State Refund.
April 8, 2025
5:20 AM
The refund advance program ended at the end of February.
April 8, 2025
5:20 AM
I don't understand what might be considered eligible for a deduction. I did receive a pension (non military) - is all of that $ deductible?
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