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a month ago
I appreciate your responses. However, none have addressed my question. In TT (in the OP I accidentally put QB)How do I handle an asset that still has some basis left when I offset it with the last ...
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I appreciate your responses. However, none have addressed my question. In TT (in the OP I accidentally put QB)How do I handle an asset that still has some basis left when I offset it with the last of the forgiven debt? I ended up just inputting the "disposal" date which stopped the depreciation and 2nd quarter with no other tax effect. Then started a "new" asset with the basis being the remaining basis. Do you know of another way to handle this?
a month ago
Topics:
a month ago
Where are you seeing something about an adjustment? If there is a message on the IRS Refund site about an adjustment, it means the IRS is changing something about your refund amount and they will ...
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Where are you seeing something about an adjustment? If there is a message on the IRS Refund site about an adjustment, it means the IRS is changing something about your refund amount and they will mail you a letter about that at a later time. TurboTax does not get any information from the IRS after you file your tax return, so no one at TT knows about an adjustment to your refund.
a month ago
a month ago
Turbo Tax state e-filing fees are set to increase in March. Perhaps tomorrow the issue will be corrected.
a month ago
Did you have other IRA account withdrawals? While the RMD must be calculated on each IRA account, the RMD withdrawal can be taken from any of the IRA accounts. If you did not, you should contact Fi...
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Did you have other IRA account withdrawals? While the RMD must be calculated on each IRA account, the RMD withdrawal can be taken from any of the IRA accounts. If you did not, you should contact Fidelity to request the additional withdrawal immediately so you can minimize the penalty.
If you fail to withdraw the full amount of the RMD by the due date, the amount not withdrawn may be subject to an excise tax of 25%, 10% if the RMD is timely corrected within two years.
a month ago
In 2024 and years past when entering dividends from US obligations that are exempt for New York, the amount always ended up on line 28 of my IT 201, simply being added to the number from box 3 of my ...
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In 2024 and years past when entering dividends from US obligations that are exempt for New York, the amount always ended up on line 28 of my IT 201, simply being added to the number from box 3 of my 1099-INT. This year, the box 3 amount is still on IT-201 line 28, but the dividend amounts from US obligations first goes into IT-225 and then to IT-201line 31. The end result seems to be the same, but did TT change how this was handled for 2025?
a month ago
Try using zero.
a month ago
The state taxes withheld from your IRA distribution should be entered on the Form 1099-R input section on your Federal return. Then, the state taxes withheld will automatically transfer to your NY s...
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The state taxes withheld from your IRA distribution should be entered on the Form 1099-R input section on your Federal return. Then, the state taxes withheld will automatically transfer to your NY state return.
If you are getting an error message with regard to needing an amount in Form 1099-R box 16 because there were state withholdings reported, enter the amount reported in box 1 of your Form 1099-R for the state distribution amount box 16.
a month ago
Topics:
a month ago
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 processi...
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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.
a month ago
Topics:
a month ago
2 Cheers
I have been having the same issue, I am using Turbotax Home & Business desktop. Part 1 and Part 2 of the Student Information worksheet state you need to enter the data on the People Wks, that you ca...
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I have been having the same issue, I am using Turbotax Home & Business desktop. Part 1 and Part 2 of the Student Information worksheet state you need to enter the data on the People Wks, that you cannot enter the data on the Student Info worksheet. However, when I enter the data on the People Wks some of the answers carryover to the Student Info worksheet incorrectly. Particularly the answers to questions 2 thru 4 in Part 2, this now states that I am not enrolled in an eligible education institution causing the Lifetime Learning credits to be dissallowed. Why does the program not carryover the correct YES answers, why are the answers being changed to a NO? And an override does not work either. Is there a fix for this, if not the program is useless since it won't properly calculate the Education Credits.
a month ago
Topics:
a month ago
The Form 1040-X is now available to file. Use the link below to check to see when it will be available. Do not change your tax return until you read all the instructions. TurboTax needs to know the ...
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The Form 1040-X is now available to file. Use the link below to check to see when it will be available. Do not change your tax return until you read all the instructions. TurboTax needs to know the original numbers and the corrected numbers to provide the correct end results before you prepare it.
If you want to make changes or add a document to a tax return that has already been filed and accepted by the taxing agency, 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 new 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
Amend a tax return for the current tax year
Tax Form Availability
@plequerre
a month ago
I filed my federal and state income taxes via TurboTax online version (have for years) and this year I discovered after filing that I did not get the new income credit as expected. I attempted to ame...
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I filed my federal and state income taxes via TurboTax online version (have for years) and this year I discovered after filing that I did not get the new income credit as expected. I attempted to amend my state return but have not been successful after several hours, two dropped calls and discussions from online specialists, experts and IT personnel at TurboTax. The last "tax expert" I spoke with before connection was dropped got me to the spot where I needed to fill in the pertinent data to receive the credit but it was not changing the amount of state tax owed which seemed to perplex the "expert" and then got communication dropped. I gave up for the day and continued to research on the internet and talk to friends who use TurboTax and see how they did it but they were not helpful since it worked just fine for them but may have processed their returns after there were known issues with this new income subtraction in TurboTax. I believe it was finally resolved on February 22, 2026. I wondered if perhaps the software was working properly and not giving me the credit given my specific situation that doesn't seem to be addressed in any of the TurboTax web posts or TurboTax help. Either that or I'm just not entering it correctly in TurboTax even with the "expert"s help. My situation is that I am not 67 but my wife is. I have qualified retirement income > $48,000, my wife has none. I know that if we were both 67 that I could claim the entire $48,000 regardless of whether my wife has qualified retirement or not--the documentation says so. But it doesn't address whether she being 67 can claim the $24,000 for herself based on MY qualified retirement income. If she can't then that could explain why even though I believe I've entered all the data correctly in the right place(s) in TurboTax that it didn't change the state tax owed. In other words, it looked at my data and determined she doesn't qualify for the credit. I'm looking for someone to weigh in on the above and determine whether she doesn't qualify or the system isn't working properly (for whatever reason).
Topics:
a month ago
THANK YOU 🙂
a month ago
Oui, si vous avez complété une déclaration dans votre compte qui n'a pas été payée ou envoyée, vous pouvez la supprimer.
Comme votre compte TurboImpôt Enligne n'est pas conçu pour être vide, lo...
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Oui, si vous avez complété une déclaration dans votre compte qui n'a pas été payée ou envoyée, vous pouvez la supprimer.
Comme votre compte TurboImpôt Enligne n'est pas conçu pour être vide, lorsque vous aurez créé la nouvelle déclaration, vous pourrez cliquer sur la petite poubelle, à droite de la mauvaise déclaration, pour la supprimer.
Merci de choisir TurboImpôt
