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No, if you took an early withdrawal in 2024, you cannot report this on your 2025 tax return.   You will need to amend your 2024 tax return. Here is some more information on filing amendments: How... See more...
No, if you took an early withdrawal in 2024, you cannot report this on your 2025 tax return.   You will need to amend your 2024 tax return. Here is some more information on filing amendments: How to File an Amended Tax Return with the IRS   Even though you already paid the 10% early withdrawal penalty, there is still regular income tax, interest (currently 7% annually, but can update quarterly) and penalties (.5% per month).   You can contact your 401(k) provider to obtain a copy of the 1099-R.  Most offer an online portal where you can obtain it.
@PatriciaV  token =  9411828155156018-40860757   On a separate note, the program says that I efiled a business return to New Jersey.  ...Which I didn't.
It says "Depreciation and Amortization will be ready by February."  Hopefully turbo tax is better with numbers than it is with  English. 
No, you cannot put stuff you forgot to enter last year on your 2025 tax return.   You can, however, amend your 2024 tax return to enter them.     Wait until your original return has been fully ... See more...
No, you cannot put stuff you forgot to enter last year on your 2025 tax return.   You can, however, amend your 2024 tax return to enter them.     Wait until your original return has been fully processed before you amend, and make sure you have saved a pdf of the original return before you amend. (If you do not save it as a pdf, the amended return will overwrite the original, and the original will be lost forever)   https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/amend-change-correct-return-already-filed/L4VjJ9BA2_US_en_US?uid=m76mq6z2   Use a mailing service like certified mail  to track so you will know it was received since you will have a long wait.   Do not expect quick results from amending. It can take four months or more for the IRS to process an amended return.     You can watch for information here: https://www.irs.gov/filing/wheres-my-amended-return     You will need the 1099R----get it from the custodian of the 401k.    
I have a small retirement loan outstanding, used to help pay for a kitchen remodel (5 year term, I am making payments of course).  I also have some money available each month for Roth contributions. ... See more...
I have a small retirement loan outstanding, used to help pay for a kitchen remodel (5 year term, I am making payments of course).  I also have some money available each month for Roth contributions.  Should I instead pay the loan off faster?   The loan is from a pre-tax account, if that is important.  
Please see how do I file my return by mail for guidance on printing your return for filing.
SAME! I've filed my taxes on turbotax for several years now, and I consider myself decently competent so I'd be surprised if a mistake were made on my end. I researched the EITC and ACTC and I defini... See more...
SAME! I've filed my taxes on turbotax for several years now, and I consider myself decently competent so I'd be surprised if a mistake were made on my end. I researched the EITC and ACTC and I definitely don't qualify for either, plus I looked back at my return and verified that neither were claimed (which you can see on line 27 and 28 if you haven't checked already).   I had a turbotax expert call me and although they were kind, they provided basically no help. They said if I'm worried that I should wait until I get my return and then call back to see if an amend is necessary, which is obviously annoying. You mean to tell me I have to do a bunch of work to get my own money back, then do more work after I get the money? No thanks!   All of that is to say - it seems like a Turbotax mistake to me. Hopefully someone else will have a better answer.
My tax return got rejected because of a missing document, but I just realized I misclicked during e-filing and did not put myself as "can be claimed on someone else's tax return" .  How do I fix this... See more...
My tax return got rejected because of a missing document, but I just realized I misclicked during e-filing and did not put myself as "can be claimed on someone else's tax return" .  How do I fix this? I can't amend it until my return is accepted, but I don't want to re-file without fixing this.
If IRS records show that you were a victim of identity theft, you will automatically be enrolled into the IP PIN program.  An IP (Identity Protection) PIN is a PIN that the IRS assigns you every year... See more...
If IRS records show that you were a victim of identity theft, you will automatically be enrolled into the IP PIN program.  An IP (Identity Protection) PIN is a PIN that the IRS assigns you every year as an extra layer of security when filing your tax return.  Your IP PIN changes every year and is needed to file your tax return.  The IRS usually mails your IP PIN during the beginning of the year (typically January).  The easiest and fastest way to get your IP PIN is by logging into your IRS account online.  If you don't have an IRS account, you will need to create one.  You can also call the IRS, and request them to mail you your IP PIN but this may take up 21 business days for you to receive.   The following links give more information about the IP PIN as well as how to retrieve it: FAQs about the identity protection personal identification number (IP PIN) Retrieve your identity protection PIN (IP PIN)
I have entered the 754 Election information and 743 step up in basis in the Business information section.  One partner passed away and left their portion of the LLC to their trust.  How do I do the d... See more...
I have entered the 754 Election information and 743 step up in basis in the Business information section.  One partner passed away and left their portion of the LLC to their trust.  How do I do the depreciation for just the trust (partner) that got the step up in basis and not for the other partners?  It was a large step up so this will make a big difference in the depreciation.
I forgot to claim on my last tax return that I pulled all of my 401k from my old employer when filing last year (under age of 59 so I had to lose 10% of what I had on it). It was about 8k that I rece... See more...
I forgot to claim on my last tax return that I pulled all of my 401k from my old employer when filing last year (under age of 59 so I had to lose 10% of what I had on it). It was about 8k that I received from it after the 10% was deducted. Can I file it this year since I forgot to last year? Are there going to be a significant amount of interests and penalties added to it since I didn’t file it last year? What if I don’t have the paperwork to finally file it? It was in 2024 when I pulled it and forgot to claim and I’m now filing for 2025.  
Please see how do I clear and start over for steps to guide you.   If you would like expert assistance while preparing your tax return, please see how do I get TurboTax Experts for guidance.   ... See more...
Please see how do I clear and start over for steps to guide you.   If you would like expert assistance while preparing your tax return, please see how do I get TurboTax Experts for guidance.   To call us, please see how do I contact TurboTax.
Yes, the deadline to e-file an amendment has closed.   However, you can still paper file an amended tax return, and you are correct- you have 3 years from the original deadline to request a refun... See more...
Yes, the deadline to e-file an amendment has closed.   However, you can still paper file an amended tax return, and you are correct- you have 3 years from the original deadline to request a refund.   Here is some more information on filing amendments: How to File an Amended Tax Return with the IRS
I was having the same problem as everyone else with not seeing the K-1 statements   I updated my Adobe Acrobat and now I can see the K-1 statements.   I'd give that a try.   Kind of weird that we can... See more...
I was having the same problem as everyone else with not seeing the K-1 statements   I updated my Adobe Acrobat and now I can see the K-1 statements.   I'd give that a try.   Kind of weird that we can see all the other pages. but not the K-1 data pages.
You generally cannot allocate one policy among two businesses.   If you had separate policies, you could do that but a policy covering both spouses must be tied to one business.     Choose one sp... See more...
You generally cannot allocate one policy among two businesses.   If you had separate policies, you could do that but a policy covering both spouses must be tied to one business.     Choose one spouse to treat the policy as established under their Schedule C, probably yours since hers is closed and only operated for a month last year.  You can deduct up to that spouse’s net profit as Self Employed Health Insurance Deduction (SEHI) on Schedule 1.    And any disallowed excess (due to the profit limitation) may be deductible on Schedule A as medical expenses (subject to the 7.5% AGI floor) if you itemize.      If: You have your own policy in your name Your spouse has her own policy in her name Each policy covers only that spouse (or that spouse + dependents) Then: Your policy can be established under your Schedule C Her policy can be established under her Schedule C Each SEHI deduction is limited by that spouse’s net profit     Where do I enter my health insurance premiums if I'm self-employed?   How to take the SEHI?