All Posts

Most of my income is from investments. I did some tax-loss harvesting in April to offset LTCG, though your post reminds me that I need to be sure I'm not using more than $3,000 of losses to offset dividend income in periods (a) thru (c). Going back to how to annualize itemized deductions, I have a few questions: You said, "You can't employ the 7.5% AGI limitation for medical expenses to justify having an increased medical expense deduction for a given time period for purposes of this form." Why not? Isn't that the point of annualizing? Has the IRS provided guidance on this? You said, "You will need to divide up your medical expense deductions for each of the time periods based on the total medical expense deduction you got from Schedule A line 4." How? Take the year-end medical deduction and apply the annualization ratios in reverse? If that's the correct way to handle it, then it seems TT would just do the calculation automatically. It also seems to go against the very intent of the form -- calculating tax liability based on factors known at the end of each period. Or are you suggesting something else? Put another way: on Aug 31 (end of period c) I don't know what my year-end income will be, I don't know what other deductible expenses I may have, etc. So how can it be correct to use a value that isn't known until the end of the year (i.e., Sched A line 4) to calculate tax liability on Aug 31? (It especially doesn't make sense if you think of it from the perspective of using the annualization methodology to make estimated tax payments, but I don't want to get off-track.) I'm not being argumentative; just trying to understand. Thanks

On the Income Topics page, scroll down to Less Common Income > Miscellaneous Income 1099A, 1099C and choose Start/Update.    On the next page, scroll down to Digital Assets Not Reported Elsewhere.     On the next page, enter the amount from your 1099-Misc from Coinbase.    The income will be reported on Schedule 1, Line 8v,  and be included on Form 1040, Line 8.   @KevinP1   

@allysonchan See this for installing the desktop editions with a license code - https://ttlc.intuit.com/turbotax-support/en-us/help-article/license-information/install-turbotax-cd-download-software-license-code/L1wFOSXur_US_en_US

When you install the program it should ask for the 16 digit License Code.  Have you downloaded and installed it?   How to get started with the Desktop program, install and activate it https://ttlc.intuit.com/turbotax-support/en-us/help-article/product-delivery/download-software-turbotax-com/L7u9oLEkq_US_en_US?uid=luqgvzrd

@35792 There is no license code when using the TurboTax online web-based editions.  The license code is only used when installing the TurboTax desktop software you purchased. See this for installing the desktop editions with a license code - https://ttlc.intuit.com/turbotax-support/en-us/help-article/license-information/install-turbotax-cd-download-software-license-code/L1wFOSXur_US_en_US

The amendment form 1040X will only be available in TurboTax after 3/4/2026.   If you are expecting a refund, we recommend that you wait to amend until after the IRS has processed your original return and you have received your refund.   To amend your tax return, please read this TurboTax article.     

Every year---every year----the online fees are discounted until the end of February, and then they increase on March 1.   This is nothing new to people who have been using TurboTax.   You can pay ahead of March 1 to lock in the discounted fee even if you wait to file later.

I did a mock return with the car interest deduction and it worked as it should.   Example:  Tom is single and has an AGI of $125,000.  The car interest deduction starts to phase out for a single individual at incomes over $100,000 so he is above the phase out range by $25,000.  For every $1000 over the phaseout range, $200 will be subtracted from their eligible interest.  For this individual, the first $5000 of interest will not be deductible ($200*25000/1000).  If Tom only had $4000 of car interest eligible for the deduction, then he will get no deduction.  If Tom had $6000 of car interest eligible, then his deduction would be only $1000.

@DaveF1006 wrote: For the 2025 tax year, if you’re filing as Head of Household with a nonresident alien spouse who doesn’t have an SSN or ITIN, TurboTax will ask for a taxpayer identification number for your spouse to e-file your return. The IRS generally needs a TIN for both spouses, even if you file separately, to help prevent identity fraud and confirm your filing status.   You’re right. Your spouse isn’t a qualifying person for Head of Household since you’re using a qualifying child, and they aren’t filing a U.S. return. But to e-file, the IRS still needs a valid number. This is an IRS rule, not something required by TurboTax.   @trapezewdc  @DaveF1006  Thanks, although I believe this is a new requirement.  In previous years it was not required to enter an ID number for a spouse when filing HOH.