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While you are not required to issue a 1099 to an S corp, you can issue one without irs issue. The s corp however is required to report  said income and should it be found they are not it would be c... See more...
While you are not required to issue a 1099 to an S corp, you can issue one without irs issue. The s corp however is required to report  said income and should it be found they are not it would be considered tax evasion which can carry 75% penalty and up to 5 years I believe in jail.  
Thank you   for TT 2025, how can I get the tool to deduct both sales taxes and the WA Cares taxes ? when I enter the WA Cares under “ Estimates and Other Taxes Paid” the tools pick the sales tax ... See more...
Thank you   for TT 2025, how can I get the tool to deduct both sales taxes and the WA Cares taxes ? when I enter the WA Cares under “ Estimates and Other Taxes Paid” the tools pick the sales tax deduction as it is slightly higher in value ( it says it can’t deduct both )  
I wanted to post a PSA in case this helps anyone.   I just finished filing my taxes with TurboTax after a great deal of frustration.  I filled everything out, double checked, and ran the Turbotax r... See more...
I wanted to post a PSA in case this helps anyone.   I just finished filing my taxes with TurboTax after a great deal of frustration.  I filled everything out, double checked, and ran the Turbotax review function.  Everything looked great and I proceeded to enter my payment information.  I got to the screen that allows me to download the PDF of my return - and I did so, for my records.  I looked at the PDF a final time - and discovered a mistake!  Good thing I checked!  No problem, I'll just fix the mistake before I file. I went back to Tax Home and edited the relevant sections, but I did not see my return amount change.  The 1040 form did not change.   I spent about 4 hours, cumulatively, on several calls with three different agents (All very helpful!  No complaints there.)  We tried deleting forms, re-entering forms, and quadruple-checked my information.  Nothing affected the needed changes to my 1040. We even tried to wipe the entire tax form and start completely over - but TurboTax does not allow you to start over once you've entered payment information. We came to the following conclusion:  Once I passed the Payment screen, Turbotax locks in certain forms and doesn't allow them to be deleted or altered.  You can re-enter information all you want, but those forms are immutable.  I couldn't go back, I couldn't start over, and I couldn't very well submit a bad tax return.     The solution was ultimately to create a brand new account and start from scratch.  This worked fine, and I was able to avoid my first mistake, and filed successfully.     I promised the TurboTax support crew that I would post here so this issue is documented.  Learn from my mistake:  Do not enter your payment info until you are 100% certain that the return is correct!  You cannot review the PDF you download at the end and go back to fix mistakes.   I hope this helps someone.
Q. Where in TT do I change the amount to allocate $4000 to claim AOTC? A. On your return, you enter the 1098-T with $4000 in box 1 and box 5 blank. On his return, you enter 21,000 in box 1 and $4... See more...
Q. Where in TT do I change the amount to allocate $4000 to claim AOTC? A. On your return, you enter the 1098-T with $4000 in box 1 and box 5 blank. On his return, you enter 21,000 in box 1 and $40,000 in box 5.    
What do you need to go back to?   
I have been attempting to import data from Merrill for the past seven days. I have spoken with Merrill support multiple times, but they have not been able to resolve the issue. I have also conta... See more...
I have been attempting to import data from Merrill for the past seven days. I have spoken with Merrill support multiple times, but they have not been able to resolve the issue. I have also contacted Intuit support twice. We attempted several troubleshooting steps, including resetting my Merrill password, updating my operating system, and clearing the cache, I have no VPN etc. but nothing has worked.   I am using TurboTax Premier Desktop. Below is the error message I am receiving.   We couldn't connect to Merrill. Try connecting again in a few hours. (105) If you need assistance or have any questions, please call [phone number removed] or click here   statusCode: 400 category: "catastrophic" code: "FDPVLT-3008" code: "FDP-105" message: "Host is not available Host is not available"   Thanks in advance for any guidance, max
Doesn’t this work to download the .tax2025 data file?   You can download it for free to continue in the Desktop program.   Save the tax file https://ttlc.intuit.com/community/saving/help/how-do-i-sa... See more...
Doesn’t this work to download the .tax2025 data file?   You can download it for free to continue in the Desktop program.   Save the tax file https://ttlc.intuit.com/community/saving/help/how-do-i-save-my-turbotax-online-return-as-a-tax-data-file/00/25740   To continue in the desktop version see this……. https://ttlc.intuit.com/community/choosing-a-product/help/how-do-i-switch-from-turbotax-online-to-the-turbotax-software/00/26129   Download the .tax  file for free How do I save my TurboTax Online return as a tax data file?   After you get the program installed the first thing to do before you open your tax return .tax file is to update the program and install any state programs you had. Then open your file. So you first might need to start a fake return to be able to download the state program (go to FILE - NEW).  Just enter some basic personal info like your name and address then click on the State tab at the top and it should ask if you want to download the state program.
Downgrading is NOT an option once you’ve been given the Expert version. Period.  Please stop giving incorrect Information.
I edited my previous reply.  What you already have is pretty close to right: $17,000 or19,000 of taxable scholarship and only $12,000 or $14,000 of expenses for the 1099-Q, making most (but not all) ... See more...
I edited my previous reply.  What you already have is pretty close to right: $17,000 or19,000 of taxable scholarship and only $12,000 or $14,000 of expenses for the 1099-Q, making most (but not all) of the earnings taxable. 
I lived in AZ in 2025 for less than two months. I had an apartment and even got car insurance. My id remained from old state, my car was still registered in old state.   Does this mean I am to be ... See more...
I lived in AZ in 2025 for less than two months. I had an apartment and even got car insurance. My id remained from old state, my car was still registered in old state.   Does this mean I am to be considered to be out-of-state worker? Does this mean I owe state of Arizona taxes on my interest, dividends, stock sale or work income?     thank you
I will try this tomorrow and will let you know the results.  Thanks
It will not let me edit or go back & it keeps spinning
TurboTax Online does not have the 'Forms' option where you can look at your actual forms.  If you have not used TurboTax Online in the past, you will need to set up a new account and start a new retu... See more...
TurboTax Online does not have the 'Forms' option where you can look at your actual forms.  If you have not used TurboTax Online in the past, you will need to set up a new account and start a new return.   Here's more info on How do I switch from TurboTax CD/Download to TurboTax Online?   @hharigan8944 
As baldietax said, as it stands, your traditional IRAs will always have some basis in nondeductible traditional IRA contributions until the balance in all of your traditional IRAs is zero.   People... See more...
As baldietax said, as it stands, your traditional IRAs will always have some basis in nondeductible traditional IRA contributions until the balance in all of your traditional IRAs is zero.   People in this situation often consider obtaining a return of the nondeductible contribution so that they don't have to track basis forever, or they roll the pre-tax portion of their IRAs into an employer plan like a 401(k), leaving just the basis in the traditional IRAs.