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My wife has been contributing to a Roth IRA the past few years and not realizing our MAGI exceeds the contribution limits since 2022. (Yes, unfortunate communication mistake between us.) She's workin... See more...
My wife has been contributing to a Roth IRA the past few years and not realizing our MAGI exceeds the contribution limits since 2022. (Yes, unfortunate communication mistake between us.) She's working on removing the excess contributions/earnings forms now from the Roth IRA account. From what we understand, we'll need to file Form 5329 this year with our current taxes and also afterward ammend our prior year tax returns with Form 5329 to deal with 2022~2024 mistake.   Just trying to seek any clarity/confirmation that this would be the correct/best approach. Any other steps being missed? Is the TurboTax interface able to accommodate ammending returns for the prior years or am I best off with a tax account for dealing with this issue for the prior years? Thanks!
Voici la liste des formulaires verrouillés qui empêchent la transmission électronique:  Quels formulaires d’impôt sont verrouillés?   Si vous utilisez TurboImpôt Bureau et que les formulaires ne ... See more...
Voici la liste des formulaires verrouillés qui empêchent la transmission électronique:  Quels formulaires d’impôt sont verrouillés?   Si vous utilisez TurboImpôt Bureau et que les formulaires ne vous concerne pas, essayez ceci: même pour les déclarations simples, il semble que l'annexe 3, le TP-726.7 et l'annexe L s'ouvrent ou affichent des montants sans que ça vous concerne. Revérifiez ces trois formulaires un par un. Effacez et fermez chaque formulaire.   1- Allez en mode Formulaires et ouvrez l'annexe 3 2- Allez dans Édition – Formulaire et effacez le formulaire courant. 3 - Revenez de nouveau à Édition – Formulaire, puis cliquez sur Fermer le formulaire courant 4 - Répétez ces étapes pour le TP-726.7 et l'annexe L 5- Revenez de nouveau à Édition - Formulaire et fermer les formulaire inutilisés.    Sauvegardez votre déclaration, fermez et ouvrez de nouveau votre logiciel.    Essayez et avisez-nous si ça fonctionne pour vous.    Merci de choisir TurboImpôt
Can I enter my quarterly tax payments to the IRS on Turbo Tax program?
The 1040X is not finalized yet due to IRS changes to the instructions recently.  This is schedule to be ready with the next update. Updates usually go out overnight on Thursdays.    If you want t... See more...
The 1040X is not finalized yet due to IRS changes to the instructions recently.  This is schedule to be ready with the next update. Updates usually go out overnight on Thursdays.    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  Select your product below and follow the instructions.  Amend TurboTax Online  Amend TurboTax CD/Download 
To change your answer to the foreign financial account question:   Go to Wages & Income  Scroll down to "Less Common Investments and Savings" Next to "1099-OID", Foreign Accounts" click ... See more...
To change your answer to the foreign financial account question:   Go to Wages & Income  Scroll down to "Less Common Investments and Savings" Next to "1099-OID", Foreign Accounts" click on Start/Revisit Check any boxes that apply.   Continue On the next page, indicate Yes, I have foreign financial assets. Continue with the interview
Duplicate. https://ttlc.intuit.com/community/tax-credits-deductions/discussion/what-to-do-if-hsa-custodian-will-not-send-back-earnings-on-an-excess-contribution/00/3815787   You don't have to p... See more...
Duplicate. https://ttlc.intuit.com/community/tax-credits-deductions/discussion/what-to-do-if-hsa-custodian-will-not-send-back-earnings-on-an-excess-contribution/00/3815787   You don't have to post multiple times, this is not live chat.  Not everyone is expert in all areas.  It may take a while for someone with expertise in this area to respond.  
Bonjour Loupin,   Si vous réussissez à vous faire rembourser, pouvez-vous nous en faire part?
Il y  a des formulaires encore verrouillés. Voici la liste qui est mise à jour régulièrement: Quels formulaires d’impôt sont verrouillés?   Si vous utilisez TurboImpôt Bureau et que les formulair... See more...
Il y  a des formulaires encore verrouillés. Voici la liste qui est mise à jour régulièrement: Quels formulaires d’impôt sont verrouillés?   Si vous utilisez TurboImpôt Bureau et que les formulaires ne vous concerne pas, essayez ceci: même pour les déclarations simples, il semble que l'annexe 3, le TP-726.7 et l'annexe L s'ouvrent ou affichent des montants sans que ça vous concerne. Revérifiez ces trois formulaires un par un. Effacez et fermez chaque formulaire.   1- Allez en mode Formulaires et ouvrez l'annexe 3 2- Allez dans Édition – Formulaire et effacez le formulaire courant. 3 - Revenez de nouveau à Édition – Formulaire, puis cliquez sur Fermer le formulaire courant 4 - Répétez ces étapes pour le TP-726.7 et l'annexe L 5- Revenez de nouveau à Édition - Formulaire et fermer les formulaire inutilisés.    Sauvegardez votre déclaration, fermez et ouvrez de nouveau votre logiciel.    Essayez et avisez-nous si ça fonctionne pour vous.    Merci de choisir TurboImpôt
Can TurboTax send my prior-year tax information since it was wiped off my computer?
The original Traditional IRA contributions were not deductible, and so Recharacterization with trustee-to-trustee transfer of contributions and Net Income Attributable do not change the tax liability,... See more...
The original Traditional IRA contributions were not deductible, and so Recharacterization with trustee-to-trustee transfer of contributions and Net Income Attributable do not change the tax liability, per IRS Reg. 1.408A-5. TurboTax software for 1040-X increased my MAGI and my tax. I was with an "Expert" for two hours this morning and it was useless. The bias is that the software is perfect and I must be doing something wrong. I assure you I have all my ducks in a row.
There are some reasons why both tax returns appear different:    The IRS often fixes errors or updates information, which can change the final amount. Debt adjustments. The amount that land... See more...
There are some reasons why both tax returns appear different:    The IRS often fixes errors or updates information, which can change the final amount. Debt adjustments. The amount that lands in your bank account will be less than what’s on your tax forms if you used your federal refund to pay your services fees.  You may want to keep monitoring your refund directly in the IRS website. Here you will see the updated, official amount: Where's my Refund  
IL uses the AGI as an identifier. The state is matching zero to its records and not able to verify you. Next year, you will be able to file with your AGI. Other identifiers IL uses are IL drivers lic... See more...
IL uses the AGI as an identifier. The state is matching zero to its records and not able to verify you. Next year, you will be able to file with your AGI. Other identifiers IL uses are IL drivers license and IL PIN.  It is a vicious circle needing one of the 3 to file.   You must paper file your first return with IL to establish yourself. Once you have done that, you can get an IP PIN or use your AGI from this year. Be sure to mail with tracking and no signature required.   If you are not filing again next year but may someday, you might want to get the IL Pin to prevent this in the future. Reference: What is an IL-PIN? Do I need it to file or pay individual income tax?
The Thrift Savings Plan (TSP) is employer-sponsored plan (like a 401k), the "aggregation" rules are slightly different than they are for IRAs.   Be sure to enter both 1099-Rs exactly as they appe... See more...
The Thrift Savings Plan (TSP) is employer-sponsored plan (like a 401k), the "aggregation" rules are slightly different than they are for IRAs.   Be sure to enter both 1099-Rs exactly as they appear. Do not combine them into one entry.   Form #1: When the program asks "How much of this distribution was an RMD?", Select "The entire distribution was an RMD."   For Form #2: Select "The entire distribution was an RMD."   By selecting "The entire distribution was an RMD" for both forms, you are telling the program that "This specific payment was required, and the next payment was also required."  Added together, the program concludes that the total satisfies the IRSl.   Check you 1099-R Entries: Open or continue your return. Click on Tax Tools, then Click on Tools (bottom left corner), and finally, Click on Preview My 1040. Check your Tax Summary, and look for Form 5329. If you don't see Form 5329 (or if Part IX of that form is blank), you have successfully bypassed the penalty and reported the RMD correctly.
Thanks. The state is North Carolina. I get a nearly fixed salary every month and tax is withheld from it every month, so I am not sure where the underpayment comes from. How can I see the calculat... See more...
Thanks. The state is North Carolina. I get a nearly fixed salary every month and tax is withheld from it every month, so I am not sure where the underpayment comes from. How can I see the calculation in Turbo tax (is there a form/calculation sheet) and how can i amend/remove it if it does not make sense?