All Posts

They are sales by the trust (the ETF) to pay expenses to run the fund.    You can report them as such and then subtract your basis from the sales proceeds. There should be a factor somewhere in your statement for the purposes of determining your basis for the share(s) sold.

I received my refund in early Feb, and had to wait until the 1040-X document was made live by TT. I made the amendment this AM and it was rejected immediately. TurboTax rep (super-nice guy, BTW) walked me through my filing, found something I didn't know was an issue, was very patient with all the questions I had, and said I had to wait 'til March 6 to refile because something not on my end still had to be tweaked. Your mileage may vary. I second everyone else's suggestions to wait until until your return is actually processed, not just accepted.

Success!  This is the correct answer:  When you sign in, scroll down and click on Add a State - -that will open your return so you can get to the Print Center and print the worksheets.    The answers from DoninGA below are incorrect.   We have always been able to view/print the worksheets in the online edition.  This year, the Tax Tools button disappeared, but clicking on Add a State reopens the tax forms, re-populates the Tax Tools button, and enables the printing of all forms and worksheets.  (Then you can delete the state form if unneeded).

Verify that the enhanced senior deduction factored in correctly onto your original 1040 filing - see Line 13b.    Is the enhanced senior deduction flowing onto Line 4b of the 2025 1040-X in columns A, B, and C? Or is the issue you're seeing isolated to one of the columns: A, B, C? Can you share some of the numbers you're seeing vs. what you'd expect to see for Line 3 minus Line 4b = Line 5?    We'll need specifics to determine if the issue is with the calculation of 1040-X, or if it is elsewhere in your tax return input. If there's a software issue, you may need to send a token of your tax return file so it can be escalated for investigation.   More guidance: What should I know before amending my return? Here are some things to know before you begin: Make sure you really need to amend. Wait until your return has been accepted (or mailed if paper-filing). Use the same TurboTax account you used to file your original return. Once you begin your amendment, you'll see your original return. Only make changes to the areas of your return that need amending. The refund calculator will start new at $0 and only reflect the changes in the refund or tax due. Any changes you make to amend your federal return will automatically be transferred over to your state return.

I am assuming you are talking about a car and the car loan interest deduction?  If so, no, it does not count.  In order to claim the deduction, the car must be a new car and the loan must have originated during the tax year that you are filing.     In order to claim this interest the following criteria must be met: The car was purchased not leased Final assembly occurred in the US It is NOT a business use, but was purchased for personal use It has a GVWR of less than 14,000lbs (car, truck, SUV, mini van or motorcycle) Loan was originated in 2025 and must be secured by a lien on the vehicle or the title Your income must be less than $100,000 if single or $200,000 if married filing jointly to receive the full deduction.   If your income is over $150,000 if single or $250,000 if Married filing jointly, you are not eligible Note:  The interest deduction is capped at $10,000.  This is an above the line deduction, not a credit meaning it will lower your AGI and taxable income.  It will not be an amount that is refunded to you, but it could result in a refund by lowering your taxable income.  If you already received a refund of all of the money you had withheld, then you may not see a difference in your return.  

The main factor is if you are an exempt employee.  The IRS guidance uses the Fair Labor Standards Act -  For overtime to be required under the FLSA, it must, among other requirements, be paid to an individual who is both covered by the FLSA and not exempt from the FLSA’s overtime requirement (an FLSA overtime-eligible employee).  Generally, you can still be a regular employee even if your employer's payroll is set up as "Salaried".  In some systems, this is used just to indicate that you are expected to be paid for a full 40 hour work week, and as you have it the overtime is paid out as a bonus.  To be safe, show him, the link below and like I said, it is possible that the payroll can be reviewed.     Questions and answers about the new deduction for qualified overtime compensation   Fact Sheet #17A: Exemption for Executive, Administrative, Professional, Computer & Outside Sales Employees Under the Fair Labor Standards Act (FLSA)

Yes.  If you didn't make any payments in 2025, but you are in 2026, then if you and your vehicle qualify then you would be able to take the car loan interest deduction when you file your 2026 return.     In order to claim this interest the following criteria must be met: The car was purchased not leased Final assembly occurred in the US It is NOT a business use, but was purchased for personal use It has a GVWR of less than 14,000lbs (car, truck, SUV, mini van or motorcycle) Loan was originated in 2025 and must be secured by a lien on the vehicle or the title Your income must be less than $100,000 if single or $200,000 if married filing jointly to receive the full deduction.   If your income is over $150,000 if single or $250,000 if Married filing jointly, you are not eligible Note:  The interest deduction is capped at $10,000.  This is an above the line deduction, not a credit meaning it will lower your AGI and taxable income.  It will not be an amount that is refunded to you, but it could result in a refund by lowering your taxable income.  If you already received a refund of all of the money you had withheld, then you may not see a difference in your return.  

To report the annuity payments on your Form 1040sr, you will need a copy of Form 1099-R (or sometimes CSF-1099-R for federal survivor annuities). A statement will not satisfy the filing requirements, so it is important that you obtain a copy before you report this on your tax return.   With a copy of your Form 1099-R, take the following steps in TurboTax to report the amount:   Go to Wages & Income on the left panel within your TurboTax account Click on the +Add more income box Scroll down to Retirement Plans and Social Security and click the down arrow to expand Click Start to the right of IRA, 401(k), Pension Plan Withdrawals (1099-R) Click on +Add a 1099-R (Here, you may import or type in by selecting the Change how I enter my form box On the next screen, you can select Type it in myself, or other options, then Continue Select the box on the top left for Financial institution or other provider (1099-R), then Continue Enter the provider's information, then Continue Enter the details from your Form 1099-R, checking for which Distribution Code was used in Box 7 (or review if imported), then Continue   Continue answering the questions, pressing Continue to advance.

Je vis une situation similaire pour cette année en février 2026.   Je veux compléter sa déclaration 2025 comme vivant 31 décembre 2025 mais est ce que je dois envoyer sa déclaration par la poste ou je peux l'envoyer par imponet, puisqu'il a déjà été déclarer décéder a l'Agence de revenu?    

Wow, Dawn — amazing. You’re the best. It works. Thanks! One comment: it felt a bit unexpected to answer “No” to intent to earn money, since staking is literally a way to earn rewards on cryptocurrency that can later be converted to cash. Maybe something for your programmers to think about improving. Since you were so helpful with that, I have a related crypto question. I also have a 1099-DA from Coinbase. Even though cost basis is not reported to the IRS, it is included on my 1099-DA, and I entered all transactions (only four) using the Step-by-Step desktop interface. No cost basis adjustments. As expected, Schedule D, Forms 8949, and Form 8453 were generated. TurboTax indicates that I must mail Forms 8949 and 8453 even though I am e-filing. This raises a couple of questions: 1. Why are these forms generated but not transmitted with e-filing? 2. I was under the impression that if there are no cost basis adjustments, no additional mailing is required since all information is already included. So, in my case, is there a way to avoid mailing anything? If not, what exactly must be mailed: just Forms 8949 and 8453, or those forms plus the actual 1099-DA? Thanks again for your knowledge and help.