All Posts

After you enter your SSA-1099 information, we'll ask if you received a lump-sum Social Security payment.   Since you did receive a lump sum payment, answer Yes and follow the instructions.    Your SSA-1099 lump-sum section breaks down the payments into what amount was received for each preceding year. You can only enter one year at a time. If you need to enter benefits received for a different tax year, select Add another lump-sum payment.   While your lump sum may include benefit payments for more than one year, you do not have to file an amended tax return for any prior year. You might need to pay taxes on a small portion of your lump-sum payment. However, you might be able to avoid these taxes by apportioning prior year benefits to those previous years’ income (still without filing any amended returns).    @TrishaMerchant       Where do I enter an SSA-1099?   Start entering your lump sum payment via the SSA - 1099 entry screen.     

That can occur if you failed to designate the distribution reported on your Form 1099-R as an IRA distribution. You need to review your Form 1099-R entry made in the Retirement Plans and Social Security section, then IRA, 401-K, Pension Plan Withdrawals (1099-R). On the screen that says Enter your 1099-R details from (name of pension plan), check the box underneath box 7 where you see IRA/SIMPLE/SEP box is checked.

Pennsylvania doesn't allow bonus depreciation.  So if you adjusted the basis on your rental property maybe you entered a new asset that got bonus depreciation?  Or used bonus depreciation to adjust the basis?  Or took bonus depreciation on the asset in the past.  Any thing like that would change the depreciation level for this year between federal and state.

jimbo   I have looked at your return. Your TurboTax return has gotten confused. Somehow, at some point, you got a message about having an excess contribution, and that you would withdraw $1,000.   Even though this is not now the case, TurboTax is mistakenly remembering that $1,000, telling you that it is an excess and reducing the HSA deduction on line 13 on Schedule 1 (1040) by $1,000.   The way to fix this is this is to delete your 8889-T and then redo the HSA interview, then everything was OK in your return.   *** Desktop/Windows***   1. Go to the upper right and click on Forms, and  2. Select the desired form (8889-T). Note the Delete Form button at the bottom of the form’s screen.   *** Desktop/Mac***   1. Switch to Forms Mode by selecting the Forms icon. 2. From the menu, select the form (8889-T) you want to remove (if you don't see it, select Open Form at the top). From the Forms menu, select Remove [form name].   *** Online ***   1. go to Tax Tools (on the left), and navigate to Tools->Delete a form  2. delete form(s) 8889-T   3. go back and redo the entire HSA interview....   @jimbo515x 

Asset but you may be able to expense it.  An expense would be replacing a broken belt. You purchased property will last longer than one year and make the place better - so they are assets to be depreciated. Appliances are depreciated over 5 years. On the bright side, there is a safe harbor election if the cost of the set is is under $2500. To enter: Open to your rental Locate assets Program asks Did you buy any items that cost $2500 or less?  If your washer and dryer was less than $2,500 select yes. This allows you to write them off in full this year. If no, continue entering the washer and dryer for depreciation.

It's clear you have an understanding of the specified private activity bonds (SPABs) and how they should be taxed. Here is a way that may allow you to make the necessary changes. Only TurboTax Desktop allows overrides when necessary. Once you change the software, you can select Forms on the right to make manual adjustments. Review the details before you begin. How do I switch from TurboTax Online to TurboTax Desktop? How do I override or replace an amount calculated by TurboTax? @super-perplexed 

This happens when IRS records show that you, your spouse, or a dependent had health insurance through the ACA Marketplace (Healthcare.gov or a state exchange) and possibly received a premium subsidy (Advance Premium Tax Credit).

You can likely just report the W-2 on your tax return.   I believe what you mean is you have income on your W-2 form equal to the value of the stock you acquired and some of those shares where sold to pay the payroll taxes associated with that income. The sale of the stock most likely did not result in any gain since they would have been sold at the time they were acquired. So, if the company did not issue you a 1099-B form reporting the sale, you probably don't need to bother with it as no significant gain or loss resulted. If they did issue you a Form 1099-B, the cost basis of the shares sold would be just about equal to the sales proceeds, so you could report it but only a nominal amount of gain or loss would result.          

The advice may be to add $1 to the Massachusetts (MA) return in an income section so that it does recognize an adjustment and more accurately reflect the correct tax with the Schedule R/NR.   Please update here if you need additional assistance.   @RobertPila 

What was your situation prior to getting married?  This will determine how you would answer that question.    If no one (other than your spouse) paid for more than half of your support for the year, then you would say YES, you supported yourself.    If you were living with your parents prior to getting married, and depending on how old you are, you would use your total expenses for the year and figure out how much you contributed to the expenses versus your parents.  If you are married, you and your spouses income count as you supporting yourself.  You can use this worksheet to determine if you did or did not pay over half of your support for the year.     In order for someone else to claim you the following criteria would have to apply: To claim someone as a Qualifying Relative, they must be: Your child ( including step children, adoptive children and foster children) or a descendent of them Your sibling (including half siblings) or a child of your sibling or a sibling-in-law Your parent or grandparents, including step parents and in laws Any other person that lived with you for the entire tax year Not a qualifying child of another taxpayer Someone that you provided over half of their support for during the tax year Has less than $5,200 in income (not counting social security)   The following criteria must be met to claim someone as a qualifying child: Your child (including adopted and foster children), your sibling, or a descendent of any of them. Age 18 or younger at the end of the tax year OR under 24 (and younger than you and your spouse) if they are a full-time student or any age if they are totally and permanently disabled Lived with you for more than 6 months during the tax year They did not provide more than half of their own support (social security does not count) They did not file a joint return, unless it was to claim a refund