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a month ago
You can enter your 1099-R form under Retirement Plans section of the Wages & Income.
Select Federal
Select Wages & Income
Scroll down to Retirement Plans and Social Security
Select Star...
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You can enter your 1099-R form under Retirement Plans section of the Wages & Income.
Select Federal
Select Wages & Income
Scroll down to Retirement Plans and Social Security
Select Start by IRA, 401(k), Pension Plan Withdrawals (1099-R)
Add your 1099-R.
Refer to the TurboTax Help article Where do I enter my 1099-R? for more details.
a month ago
Thanks, but neither applies. I put two assets in service in 2023 and one in 2024, all relate to a single rental, my only activity with depreciable assets. No section 179 expense was taken related to ...
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Thanks, but neither applies. I put two assets in service in 2023 and one in 2024, all relate to a single rental, my only activity with depreciable assets. No section 179 expense was taken related to any of the assets. TurboTax is calculating MACRS depreciation correctly, although nothing transfers to schedule E. It seems like a problem with the software. Any additional advice is appreciated.
a month ago
1 Cheer
To the question "did [spouse] have excess contributions deducted from their wages?", the answer is no, your spouse did not have excess contributions deducted from their wages.
a month ago
Topics:
a month ago
A couple reasons it could be saying you need to upgrade…. You might be seeing Form 8959 because the amount of Medicare taxes withheld in W2 box 6 is not exactly 1.45% of the Medicare wages in box 5,...
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A couple reasons it could be saying you need to upgrade…. You might be seeing Form 8959 because the amount of Medicare taxes withheld in W2 box 6 is not exactly 1.45% of the Medicare wages in box 5, due to rounding. Try leaving the cents off of the Medicare tax on your W2 box 6. Box 6 has to be exactly 1.45% of box 5 or less. If it is saying you need Schedule 3 and can't use the Free Edition it might be giving you the retirement savings credit. You can say you are a student to decline the credit. You must answer Yes when asked in the Retirement Savings Contributions Credit section if your were a full-time student. The answer to this same question asked in the personal-information section is not the answer that is used.
a month ago
If there is a portion of difficulty of care payment that is taxable, and no form is provided, where do you put the taxable amount on the tax return?
a month ago
If you have already filed and received your refund, you can Amend your return to claim the Car Loan Interest Deduction, if you qualify.
@Nedraaaa
a month ago
I know it doesn't help now, but here's why someone might see an additional $40 fee. If you chose to pay your product fees out of your refund, there is a $40 service fee ($45 for California filers.)...
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I know it doesn't help now, but here's why someone might see an additional $40 fee. If you chose to pay your product fees out of your refund, there is a $40 service fee ($45 for California filers.) That processing fee is for a third-party bank to open up a bank account in your name to receive the funds from the IRS. Then at that third party they take out the fees and send the rest to your bank account in a second direct deposit. Then that third-party bank closes the account they had set up for you. That $40 fee can be avoided by paying upfront with a credit card, debit card, or a prepaid debit card that can be purchased in stores.
a month ago
Enter a 1099R under Federal Taxes Wages & Income Then scroll way down to Retirement Plans and Social Security Then IRA, 401(k), Pension Plan Withdrawals (1099-R) – Click Start Then keep going...
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Enter a 1099R under Federal Taxes Wages & Income Then scroll way down to Retirement Plans and Social Security Then IRA, 401(k), Pension Plan Withdrawals (1099-R) – Click Start Then keep going through the follow up screens and questions.
a month ago
There is a property tax exemption for veterans who were honorably discharged and 100% permanently and totally disabled during active duty service. You will need to provide a US Department of Veteran...
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There is a property tax exemption for veterans who were honorably discharged and 100% permanently and totally disabled during active duty service. You will need to provide a US Department of Veterans Affairs certification of active duty service-connected disability stating you are 100% permanently and totally disabled.
See NJ Department of Taxation website for more details on what is needed to qualify
a month ago
@ThomasM125 five o’clock somewhere?
a month ago
If you want to file your taxes with TurboTax, please follow the instructions below:
1. Create your TurboTax account.
2. Click on Start a new return.
3. Answer all the required questions and inp...
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If you want to file your taxes with TurboTax, please follow the instructions below:
1. Create your TurboTax account.
2. Click on Start a new return.
3. Answer all the required questions and input your information for the tax return.
4. Then review all the data you entered.
5. Finish and file your tax return.
For any queries, please Contact us.
Thank you for choosing TurboTax.
a month ago
Topics:
a month ago
Former investment entity is not providing a 1099-R. Should I create a manual substitute 1099-R?
Topics:
a month ago
It is sort of like mixed drinks. Most people know a Margarita is a drink made with tequila. But there a several variations of the drink, like a strawberry margarita, mango margarita, lime margarita, ...
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It is sort of like mixed drinks. Most people know a Margarita is a drink made with tequila. But there a several variations of the drink, like a strawberry margarita, mango margarita, lime margarita, etc. They are all margaritas. It is the same with Modified Adjusted Gross Income, it comes in many different varieties!
a month ago
@Opus 17 Are you saying no, I’m not correct. That I should be answering YES to the TurboTax question stated previously? or, I am correct, and the answer on the TT questionnaire is NO?
a month ago
Hi all — I’m a resident in MD (NY nonresident) with: ~$3,000 NY-source wages (RSUs that vested after I moved, but sourced to NY because they were earned while I worked in NY) A NY rental proper...
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Hi all — I’m a resident in MD (NY nonresident) with: ~$3,000 NY-source wages (RSUs that vested after I moved, but sourced to NY because they were earned while I worked in NY) A NY rental property with a $5,000 net loss On my federal return, that $5,000 rental loss is “unallowed/suspended” due to passive activity loss limits (my federal AGI is > $150k). For NY filing (IT-203 + IT-182), I’m trying to understand: Does IT-182 potentially make the full $5,000 “allowed” for NY because NY modified AGI (line 6) is low (basically the ~$3k NY wages)? I don't have other NY sourced income/gains. If NY allows the full $5,000, can I net it against the $3,000 NY wages on IT-203 (so NY taxable income becomes negative and NY tax becomes $0)? What happens to the extra $2,000 loss beyond the $3,000 wages: Does NY carry it forward in any way (as a passive loss carryover or NY NOL), or Is it effectively used up / provides no benefit in NY this year (other than reducing NY tax to $0 and refunding any NY withholding)? I’m mainly confused about whether NY has any mechanism to preserve the excess loss when NY-source income is smaller than the allowed loss. Thanks!
a month ago
Attention! fraude!!!! je viens de suivre ce lien et j'ai mis ma carte de crédit et j'ai eu plusieurs message disant que le montant initial n'avait pas passé et j'ai essayé a plusieurs reprise et ils ...
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Attention! fraude!!!! je viens de suivre ce lien et j'ai mis ma carte de crédit et j'ai eu plusieurs message disant que le montant initial n'avait pas passé et j'ai essayé a plusieurs reprise et ils ont passé 800 $ sur ma carte!
a month ago
If you had an excess HSA contribution in 2024 but did not have a form 5329 on your 2024 return, this likely means that you withdrew the excess HSA contribution from your HSA prior to the original due...
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If you had an excess HSA contribution in 2024 but did not have a form 5329 on your 2024 return, this likely means that you withdrew the excess HSA contribution from your HSA prior to the original due date of the return.
Had you not done so, you would have (by default) carried the excess over to 2025. However, this would also generate a penalty (called an excise tax) which would appear on line 49 on the 5329. No 5329? No carryover.
When you withdrew the excess in a timely manner, then you "cured" the excess, and have no more reporting duties outside of what TurboTax automatically did for you (you may not have noticed). NOTE, when you are asked on your 2025 return if you overfunded your HSA in 2024, if you "cured" the excess in 2024, then answer NO.
Do you have an excess contribution on your 2025 return? If so, withdraw it by April 15, 2026 if you can. This is the simplest way to deal with an excess.
In any case, you can't include the 2024 excess with your 2025 excess, in the way that you mean.
