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a month ago
1 Cheer
@JohnCinAZ wrote: Looks like H&R next year! By next year, TurboTax will have its own valuation tool like H&R Block so there may not be a point in switching.
a month ago
interesting all answere are from 5 years ago!!!
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a month ago
After your Form 1099-R is entered into TurboTax you should see a screen that says, "Where is your distribution from?" You should select the top one. Retirement Distribution from other pensions of New...
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After your Form 1099-R is entered into TurboTax you should see a screen that says, "Where is your distribution from?" You should select the top one. Retirement Distribution from other pensions of New York State. When you do this your distribution should go to your New York State Income Tax Return and be recognized as excluded. This should put your excludable pension on line 26 of your Form IT-201.
To get to those screens in TurboTax to review your entries, you can:
Click on Search at the top right of your TurboTax screen
Type Form 1099-R in the search box
Click on the link Jump to Form 1099-R
Select your Form 1099-R for your New York State pension and follow through the screens until you see "Where is your distribution from?"
Click on the top circle and "Continue"
Please return to Community if you have any additional information or questions and we would be happy to help.
a month ago
I'm not sure @Dovve. Perhaps try again or contact Support.
a month ago
The form 80-160 is correct because it is listing your taxable LA income. Look at the first form, line 12. There is your taxable income. The credit will be the lower of the state tax liabilities on th...
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The form 80-160 is correct because it is listing your taxable LA income. Look at the first form, line 12. There is your taxable income. The credit will be the lower of the state tax liabilities on the same taxable income. You may owe your resident state, if they have a higher tax rate along with differences in how the taxable income is calculated.
a month ago
I don’t want my refund
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a month ago
I entered the information under “Miscellaneous Income” → “ESA and 529 Distributions (Form 1099-Q)” in TurboTax Online. Do I need to fill out Form 5329 separately in TurboTax? If so, which section sh...
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I entered the information under “Miscellaneous Income” → “ESA and 529 Distributions (Form 1099-Q)” in TurboTax Online. Do I need to fill out Form 5329 separately in TurboTax? If so, which section should I go to to enter the additional tax? Or will TurboTax automatically take care of Form 5329 when filing the federal return?
a month ago
On the question "What is your portion of this shared policy?" there are three %that I have to answer. Where do I find this information?
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a month ago
I too, am just now discovering that Intuit killed this most useful tool. I have been using this feature for many years and I was shocked when I went to use it this year to enter my charitable deduct...
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I too, am just now discovering that Intuit killed this most useful tool. I have been using this feature for many years and I was shocked when I went to use it this year to enter my charitable deductions and found out that it's no longer a part of the package. This software has steadily risen in price and is now so full of annoying upsell noise. Every year, I question whether it's worth it. Now that they've removed what I found to be such a useful tool, with no comparable function to take its place, I'm done. It's been a good run. Looks like H&R next year!
a month ago
Is turbo tax having problems today. My refund wasnt what they had, it changed. Anyone else having this saying something else what it did yesterday the IRS refund?
a month ago
My bank's 1099-R form used code "J" for "Early distribution from a Roth IRA, no known exception." As far as I can tell, TurboTax is not offering me the option to include a Form 5329 to state that the...
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My bank's 1099-R form used code "J" for "Early distribution from a Roth IRA, no known exception." As far as I can tell, TurboTax is not offering me the option to include a Form 5329 to state that the exception is a $1,000 emergency personal expense distribution. This exception has been permitted in tax law since 2024. I talked to my bank and they said this needs to be clarified by my tax preparer, and not Form 1099-R. As far as I can tell in my research, they are correct: They were supposed to use Code J, and I am supposed to file a Form 5329 and list exception number 23 on Line 2 (See: https://www.irs.gov/instructions/i5329). How do I get Form 5329 included before I file, so that I don't get a 10% early distribution penalty? Thank you!
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a month ago
My bank's 1099-R form used code "J" for "Early distribution from a Roth IRA, no known exception." As far as I can tell, TurboTax is not offering me the option to include a Form 5329 to state that the...
See more...
My bank's 1099-R form used code "J" for "Early distribution from a Roth IRA, no known exception." As far as I can tell, TurboTax is not offering me the option to include a Form 5329 to state that the exception is a $1,000 emergency personal expense distribution. This exception has been permitted in tax law since 2024. I talked to my bank and they said this needs to be clarified by my tax preparer, and not Form 1099-R. As far as I can tell in my research, they are correct: They were supposed to use Code J, and I am supposed to file a Form 5329 and list exception number 23 on Line 2 (See: https://www.irs.gov/instructions/i5329). How do I get Form 5329 included before I file, so that I don't get a 10% early distribution penalty? Thank you!
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a month ago
It depends. If you started using straight line depreciation on these assets in 2024, then you would have a full year of depreciation in 2025. The straight line cannot be incorrect unless you have dis...
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It depends. If you started using straight line depreciation on these assets in 2024, then you would have a full year of depreciation in 2025. The straight line cannot be incorrect unless you have disposed of an asset or sold one. It's an equal amount of depreciation every month after the first year until disposed of.
Please update here if you have more questions about these assets.
a month ago
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a month ago
1 Cheer
Yes, you can theoretically claim the Lifetime Learning Credit (LLC) without a 1098-T, but there is a major "catch" regarding the school’s eligibility that likely explains why TurboTax is blocking you...
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Yes, you can theoretically claim the Lifetime Learning Credit (LLC) without a 1098-T, but there is a major "catch" regarding the school’s eligibility that likely explains why TurboTax is blocking you.
To claim the credit, the school must be an "eligible educational institution." By law, this means the school must be eligible to participate in the U.S. Department of Education’s student aid programs (FAFSA). If a school does not have a Federal ID (EIN) or refuses to provide one, it is often a sign that they aren't an accredited "eligible institution" for federal tax purposes.
The IRS only allows the LLC for schools that are accredited and recognized by the Department of Education. Many private esthetician or beauty schools are "licensed" but not "accredited" for federal financial aid.
The Test: Search the Federal Student Aid Database (DAPIP). If your daughter's school is not in this database, you cannot claim the credit, regardless of how much you paid.
The "Other Students" Claim: When the school says other students have filed successfully, they may be right—but those students may be at risk of an audit. If the school doesn't have an EIN, they are effectively "off the grid" for the IRS education credit system.
a month ago
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a month ago
I have a question about this form I filed and it’s having A different routing and account number than mine that I listed I want to know why because I called the ftb And they said that this account is...
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I have a question about this form I filed and it’s having A different routing and account number than mine that I listed I want to know why because I called the ftb And they said that this account is gonna be receiving my refund not the account that I listed on part 115 For direct deposit refund which is my actual bank account
a month ago
I would like to take a deeper look at this. However, I need a diagnostic file which is a copy of your tax return that has all of your personal information removed. You can send one to us by following...
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I would like to take a deeper look at this. However, I need a diagnostic file which is a copy of your tax return that has all of your personal information removed. You can send one to us by following the directions below:
TurboTax Online:
Sign into your online account.
Locate the Tax Tools on the left-hand side of the screen.
A drop-down will appear. Select Tools
On the pop-up screen, click on “Share my file with agent.”
This will generate a message that a diagnostic file gets sanitized and transmitted to us.
Please provide the Token Number that was generated in the response.
TurboTax Desktop/Download Versions:
Open your return.
Click the Online tab in the black bar across the top of TurboTax and select “Send Tax File to Agent” *
This will generate a message that a diagnostic copy will be created. Click on OK and the tax file will be sanitized and transmitted to us.
Please provide the Token Number (including the dash) that was generated in the response.
*(If using a MAC, go to the menu at the top of the screen, select Help, then, “Send Tax File to Agent”
a month ago
On the Where is your distribution from? entry following your 1099-R entry, you will select None of the above.
IRA is not listed because it is looking for 100% exempt government pensions. You c...
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On the Where is your distribution from? entry following your 1099-R entry, you will select None of the above.
IRA is not listed because it is looking for 100% exempt government pensions. You can deduct certain federal, New York state, or local government pension distributions from your New York income.
Those over age 59 1/2 can deduct up to $20,000 of certain IRA and other pension benefits on their New York return (if Married Filing Jointly, each spouse may deduct up to $20,000). You will be asked for this information in the New York state section of TurboTax.
a month ago
No. There is no spot in TurboTax to set CT paid leave benefits as non-taxable.
According to the IRS, you must include in your income sick pay from any of the following:
A welfare fund...
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No. There is no spot in TurboTax to set CT paid leave benefits as non-taxable.
According to the IRS, you must include in your income sick pay from any of the following:
A welfare fund
A state sickness or disability fund
An association of employers or employees
An insurance company, if your employer paid for the plan
Therefore, you should enter the Form 1099-G information as it appears.
Before you finalize your return, you can check with your company because your employee contributions should not have been included in Form 1099-G.
Here is a link to the Connecticut Paid Leave site's Frequently Asked Questions.
Here is a link to the IRS Frequently asked questions regarding reporting of disability payments.
Here is a link where the IRS issues guidance for the District of Columbia and states that have paid family and medical leave programs.
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