All Posts

The Form 1040-X for amending a 2025 federal tax return is estimated to be available in TurboTax on 03/04/2026   Not until the IRS updates the Form 1040-X instructions for tax year 2025 can TurboTax provide a 2025 Form 1040-X. Current IRS Form 1040-X instructions are for tax year 2024 - https://www.irs.gov/pub/irs-pdf/i1040x.pdf IRS Draft Form 1040--X instructions for tax year 2025 - https://www.irs.gov/pub/irs-dft/i1040gi--dft.pdf

The retirement income should have been reported to you on a Form 1099-R.   To enter, edit or delete a form 1099-R - Click on Federal Taxes (Personal using Home and Business) Click on Wages and Income (Personal Income using Home and Business) Click on I'll choose what I work on (if shown) Scroll down to Retirement Plans and Social Security On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button Online editions -   On the screen Did you get a 1099-R in 2025? Click on Yes On the screen Let's import your tax info Click on Change how I enter my form On the screen How would you like to upload your 1099-R? Click on Type it in myself On the screen Who gave you a 1099-R? select the type of 1099-R you received and Continue

Yes, if you didn't post one of your W-2s you should amend the return.   TurboTax will be available to process amended returns for 2025 in Early March of 2026. TurboTax provides a list of Tax form availability ‌for individual Federal and State returns forms that are‌ being revised. On the website Select Select return type [1040 Individual] Select agency [US - Federal] Third Box [1040X] Once available, you can make a change to a tax return that has already been filed and accepted.  You should follow these guidelines.  You must first wait until the initial return is completely processed.  You will have to use the same TurboTax account that you used for the original tax return.  Once you begin your amendment, you'll see your original return.   The refund calculator will start ‌at $0 and only reflect the changes in the refund or tax due  Only make changes to the areas of your return that need to be corrected.  You have three years from the date you filed your return or two years after you paid the tax due (whichever is later) to file an amendment  Select your product below and follow the instructions.  Amend TurboTax Online  Amend TurboTax CD/Download   

FROM THE IRS WHERE’S MY REFUND SITE: https://www.irs.gov/wheres-my-refund How it works Where's My Refund shows your refund status: Return Received – We received your return and are processing it. Refund Approved – We approved your refund and are preparing to issue it by the date shown. Refund Sent – We sent the refund to your bank or to you in the mail. It may take 5 days for it to show in your bank account or several weeks for your check to arrive in the mail.

Ah yes now I understand. If you never used a car for business and sell it for a loss, it's tuff luck and there is no tax deduction. If you sell it for a gain then you pay taxes. Kind of a double standard but that's the deal.  If the loss was purely due to business use, then you could take a loss on the 1040 return.   I just went thru this on the sale of a partial business use car. I had to dig up 19 years of returns.   I had used the standard mileage rate for all 19 years. I used a table the IRS provided for the specific depreciation allowance for each year (Cents per mile for depreciation) times the business miles each year. This is not the same table as the total mileage expense allowed for each year, it's just for the depreciation portion. Then I calculated overall business use percentage (total Business miles/Total miles) to figure the business cost basis and business sale price. Then I used the total depreciation over 19 years  to determine the  business adjusted cost basis. 

No.  The total 1099R across all accounts means ONLY for that 1 person.  You don't combine your RMD and his RMD and QCDs.    IRA stands for INDIVIDUAL Retirement Account.  Couples are reported and kept completely  separate.

Why are you entering the health insurance premiums directly on to the form?  You should be entering them as an expense for health insurance premiums so that the system can move the numbers to wherever it is that they are supposed to go.    

To claim the credit for 2024, you would need to either Amend your return if you filed one or file a 2024 return if you did not.  You will need the download version to amend or file the return and it will need to be printed and mailed as e-filing is closed for 2024 tax year.     The Used EV Credit is a NON refundable credit worth 30% of the purchase price up to $4,000.  In order to qualify, you must meet the following criteria: You must NOT be the original owner You must NOT be claimed as a dependent on another persons tax return You must NOT have claimed a used vehicle credit in the past 3 years You must be the person who bought the vehicle for use and not for resale Your AGI cannot be greater than: $150,000 for Married Filing Jointly $112,500 for Head of Household $75,000 for all other filers You can use your AGI from the year you buy the vehicle or the year before if your income would qualify in one year but not the other.    For the vehicle to qualify the following has to be met: At least 2 years older than the current model year (for 2024 Tax Season this means a 2022 model or older)  Must have a sales prices of no more than $25,000 Be used primarily in the US Have a GVWR of less than 14,000lbs Cannot have been used for a used vehicle credit previously Bought from a dealer (cannot be a private sale) The dealer must report certain information to you at the time of the sale This Credit is Non-Refundable and cannot be carried forward.    Click here to see if your make and model qualify.

South Carolina uses the Federal taxable income as a starting point on their return.  If itemizing on the Federal return, you are not allowed to use a Standard deduction in South Carolina - instead you are forced to add back items from your Federal itemizations that do not conform to South Carolina tax law.   Following is from the Instructions for SC 1040, pg. 21:  "Line a: State tax addback If you itemized your deductions on your federal Income Tax return and deducted state and local Income Tax or general Sales Tax, you may be required to add back all or part of this amount to your federal taxable income when computing your South Carolina taxable income."  Since your itemized deductions were entirely state and local tax, line a ends up being the difference between your Federal itemized deductions and the standard deduction you could have claimed.  The calculation of this is on the State Tax Add worksheet in Forms view.   On page 22 of the instructions:  "Line e: Other additions to income Attach an explanation of your entry for this line. Some examples of items to enter on this line are: . . . Add back any federal deductions resulting from IRC sections that South Carolina does not adopt."  Because South Carolina has not adopted the provisions of the One Big Beautiful Bill regarding the State and Local Tax deduction cap increase from $10,000 in 2024 to $40,000 in 2025, this results in an additional required addback of $7,750 in order to limit the State and Local income tax to the Federal 2024 cap of $10,000 which conforms to South Carolina tax law.   You could get the Standard Deduction for South Carolina if you forced TurboTax to take the Federal Standard Deduction.  Then the state and local tax add back for South Carolina would not come into play.  I used the data from your token you submitted and forced the Standard Deduction on the Federal return and this did eliminate the state and local tax addback on South Carolina and increased your South Carolina refund by around $400.  But this also resulted in an increase of about $2400 in Federal tax liability.   If South Carolina should later decide to conform to the One Big Beautiful Bill provisions regarding the increased cap for the State and Local Tax Deduction, you will have the ability to amend your South Carolina return to claim any additional refund due you.

To correctly amend your 2024 return in TurboTax, you should not create a Form 1099-R because it does not apply to your 2024 return.   Instead, you will update your IRA contributions section to report your earnings, which are taxable income on your 2024 return.   TurboTax makes it easy for you to file an amendment. Here is a link on how to proceed with the amendment in TurboTax.   Once you begin your amendment: Go to Deductions & Credits, Select Traditional and Roth IRA Contributions, then Start Enter the original amount of $5,000 Answer the income limit questions and TurboTax will calculate that you were only allowed to contribute $500 Next, you will be alerted about the penalty for early withdrawal TurboTax will then generate Form 5329 and calculate the penalty amount In your explanation statement, you will explain that you are amending to report the return of an excess 2024 Roth IRA contribution and related earnings which were distributed in 2026.   For your 2025 tax return:   Since the correction took place in 2026, for your 2025, you will not need to report the 2024 correction. You will proceed with your 2025 contributions as normal, ensuring you stay within the income limits.   For your 2026 return:   When you receive your Form 1099-R in 2027, look for the Box 7 Code to ensure it has a J.    [edited 3/1/2026 12:00 p.m.] @rajohns

You cannot change or add anything on the return that you just e-filed, nor can you stop it.  It is too late, just like when you put an envelope in a US mailbox on the corner.  The IRS does not allow you to take it back.   If you left out a W-2, a 1099G, or a dependent, or a 1099 etc…DO NOT change your return while it is “pending.”  The changes will go nowhere.   Now you have to wait until the IRS either rejects or accepts your return.  If your return is rejected, you will be able to go into your account and make the necessary changes to your tax return and re-submit your return.    Sometimes—not always— the IRS corrects your mistakes, while they are processing your return.    If the IRS accepts your return, however, then you have to wait longer until it has been fully processed and you have received your refund.  THEN you can prepare an amended tax return and e-file or mail  it in. You have to be able to work from that return exactly the way it was when it was e-filed originally.  You will need to use a form called a 1040X.     Meanwhile, DO NOT go in and start changing anything on your return in the system, or you will make a mess for yourself.  Sit tight and wait until you see what the IRS does with the return you just e-filed   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 do not mention whether she was a full-time student---which matters.   If she was a full-time student you can claim her as a qualifying child dependent.   If she was not a student, she could be a qualifying relative dependent.    Either way, you get a non-refundable $500 credit for other dependents on your tax return.   But if she was a student, you can also enter education credits.   WHO CAN I CLAIM AS A DEPENDENT?   You can claim a child, relative, friend, or fiancé (etc.) as a dependent on your 2025 taxes as long as they meet the following requirements: Qualifying child They're related to you. They aren't claimed as a dependent by someone else. They're a U.S. citizen, resident alien, national, or a Canadian or Mexican resident. They aren’t filing a joint return with their spouse. They're under the age of 19 (or 24 for full-time students). No age limit for permanently and totally disabled children. They lived with you for more than half the year (exceptions apply). They didn't provide more than half of their own support for the year. Qualifying relative They don't have to be related to you (despite the name). They aren't claimed as a dependent by someone else. They're a U.S. citizen, resident alien, national, or a Canadian or Mexican resident. They aren’t filing a joint return with their spouse. They lived with you the entire year (exceptions apply). They made less than $5200 in 2025 (not counting Social Security) You provided more than half of their financial support.