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You enter it in the Business Assets section depending on your business type. To enter land for business: 1. Go to the Business section of TurboTax. 2. Select Business Assets or similar entry area for your business type. 3. Add a new asset and choose Land as the asset type. 4. Enter the purchase price and date. Land is not depreciable, so you just report the cost as your basis. This increases your asset value for business records.

ok sounds like you're having fun.  generally I think the cost basis on 1099B should not include the accrued paid and you would adjust the 1099-INT for that to reduce the interest in the tax year of the first coupon payment after purchase.  Reporting varies between brokerages but I don't think many of them do that tracking, they will provide a summary of accrued interest paid and it's up to you to adjust the 1099-INT for it appropriately, or carry it over to the following tax year if you buy a bond after it's last coupon for the year.   the adjustment is done in the supplemental questions after the 1099-INT entry; with the caveat that Turbotax applies any adjustments pro-rata across all income boxes, so if you have a 1099 with multiple box income (i.e. Box 1/3/8) you have to split the 1099 up to get the right adjustment for Fed and State taxes.

No, you generally are not considered self-employed when you make money by selling stocks, unless you are doing something such as day trading. Then this income could be considered self-employment income.  To be engaged in business as a trader in securities, you must meet all of the following conditions: You must seek to profit from daily market movements in the prices of securities and not from dividends, interest, or capital appreciation; Your activity must be substantial; and You must carry on the activity with continuity and regularity.   Otherwise, selling stocks would be considered investment activity and would be entered on Schedule D.  You should have received a 1099-B from your broker which you will enter by selecting the following: You would enter the 1099-B by selecting the following: Federal Income Show More next to Investment Income Start next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)  Walk through the steps to enter your 1099-B    Note, your navigation sequence may be slightly different.  You can also use the Jump to feature by entering investment sale in the search bar at the top of the screen.  You said your social security is not taxable.  This is true for some people, but it does depend on your total income.  If your total combined income is over $25,000, then your social security does become taxable at up to 85%.  So if your social security is $25,000 a year and you are profiting $20,000 in stock a year, your social security would be taxable income as 1/2 of your social security plus the $20k would be over $25,000.    Taxability of Social Security & SSDI General Rule: Social Security benefits are not fully taxed. Depending on your "combined income," up to 85% of your benefits may be taxable. SSDI Treatment: SSDI (Social Security Disability Insurance) benefits are treated exactly the same as regular Social Security benefits for tax purposes. Thresholds for 85% Taxable: Single: Combined income above $34,000. Married Filing Jointly: Combined income above $44,000. Married Filing Separate: Benefits are taxable at 85% regardless of income level. Thresholds for 50% Taxable: Single: Combined income between $25,000 and $34,000. Married Filing Jointly: Combined income between $32,000 and $44,000. Calculation Formula: "Combined Income" is calculated as your Adjusted Gross Income (AGI) + Nontaxable Interest + 1/2 of your Social Security Benefits.    

No, if you are receiving interest income from a bank in Indiana and Arizona while you live in Missouri, you do not need to file a return for all three states.   All of your interest income will be reported on your Federal return and your Missouri state return.  Having interest income from a bank in another state does not require you to file a return for that state.   To learn more, take a look at the following TurboTax help article:   Why would I have to file a nonresident state return?  

Thx for the reply.  The amount shown on the original 1099-R is the exact amount shown on Line 21 of Oklahoma Form 511. The letter from Oklahoma Tax Commission requesting a 1099-R in order to process the rerturn also stated they cannot verify the withholding amount claimed on the return. I guess that is because they require the 1099-R to verify the amount claimed and e-file doesn't provide the 1099-R. Not etimated tax and SS number is correct,.   Just like last year I provided them what the letter requested and just like last year my return was processed. I just received my direct deposit of the refund yesterday.

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. This means waiting until the payment submitted with the tax return has been processed, or your refund has been received.  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 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.   

Here's what I have and the path/questions/answeres I went through.  Self-employment net income was well in excess of $16,000.  Thank you.   us-east-2.turbotaxonline.com/unified/2025/... Premium   (personal not business)   MasOS Monterey Version 12.7.6     Under Deductions and Credits Select Kinds of IRAs owned or contributed to for 2025 Traditional IRA   me, spouse Did you contribute to a traditional IRA in 2025 YES Is this a repayment of a retirement plan distribution you received..?  NO Enter the total amount of contributions you put in a traditional IRA for 2025 8,000 for jan 1, 2026-Apr 15, 2026 Did you contribute more money to this IRA than was allowed in 2024... NO Did you have any nondeductable IRA contributions from 2024 or prior... NO   Did spouse contribute to traditional IRA in 2025 Yes Is this a repayment of a retirement plan distribution you received?  NO Enter the total amount of contributions you put in a traditional IRA for 2025 8,000 for jan 1, 2026-Apr 15, 2026 Did spouse contribute more money to this IRA than was allowed in 2024... NO Did spouse have any nondeductable IRA contributions from 2024 or prior... NO   Your IRA Deduction Summary Based on what you have entered you don’t qualify for an IRA deduction

Filing Form 8606 for a Roth conversion is not a new requirement. It has been a mandatory part of the tax code for decades.   The IRS uses this form to track your basis (the money you've already paid taxes on) to ensure you aren't taxed twice on the same dollars.

It's not completely clear which PIN or what you did, but here's some info in general:   If you are referring to a 5-digit signing PIN that was being asked for, you couldn't have efiled without it.  It's on a screen with today's date and your birth date.   That's how you sign the return.  It likely wouldn't have let you advance.   If you are referring to a 6-digit IP PIN (Identity Protection PIN), if that was omitted, and the IRS is expecting you to enter one, the efile "should" simply reject, and you can enter it and resubmit.

If you're getting an error about the 1095-A while filling, the IRS data base thinks you or a member of your household has or had marketplace insurance.   You should Confirm that you and no one else in the household got a 1095-A You can use the phone number listed by state at  The Health Insurance Marketplace. If you're sure you don't have a 1095-A you can use these steps to clear it. Select Tax Tools On the drop-down select Tools There will be 2 green boxes Select Topics Search Type 1095-A The question will come up Did you receive Form 1095-A for your health insurance plan? Answer Yes Continue to the form Delete it using the trash can Repeat the process When you get to Did you receive Form 1095-A for your health insurance plan? Answer No