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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 depre... See more...
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.
If you have used TurboTax Online, you can use the ReFILE option by signing in to your account. On the side of the NETFILE return, you will have a ReFILE button. In TurboTax Online, ReFile is not avai... See more...
If you have used TurboTax Online, you can use the ReFILE option by signing in to your account. On the side of the NETFILE return, you will have a ReFILE button. In TurboTax Online, ReFile is not available for Quebec residents.   If you're using TurboTax Desktop, when you open your 2024 software, you click on “Change a filed return," choose the return you want to modify, click on "Modify return" (in the NETFILE section), and follow the steps to apply the changes and ReFILE. If the steps are done in this order, the ReFILE button will be there.   In all cases, regardless of the software version used, you can do so directly in your My Account, CRA, and Revenu Québec, or by mail, by completing the following forms:   CRA: T1-ADJ T1 Adjustment Request https://www.canada.ca/en/revenue-agency/services/forms-publications/forms/t1-adj.html   Revenu Québec: Request for an Adjustment to an Income Tax Return https://www.revenuquebec.ca/en/online-services/forms-and-publications/current-details/tp-1-r-v/   Thank you for choosing TurboTax.
When we used to enter donations, like clothing/household items, there was a really easy tool where you just found the items and clicked on them and it totaled them for you for each donation. It does ... See more...
When we used to enter donations, like clothing/household items, there was a really easy tool where you just found the items and clicked on them and it totaled them for you for each donation. It does not appear this time, as it has so many years previous. Any idea where this went?
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 Deskto... See more...
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 
Just follow the instructions in the interview
Schwab notified me of a corrected Form 1099.  I re-imported the data for all 1099s, and TurboTax informed me that it would remove the old imported data before importing the new.  Once the process was... See more...
Schwab notified me of a corrected Form 1099.  I re-imported the data for all 1099s, and TurboTax informed me that it would remove the old imported data before importing the new.  Once the process was done, the lines on the 1040 for interest and dividends were lower than they should have been.  So I went into the 1099-INT and 1099-DIV and re-typed the main interest & dividend amounts (changing their color from green to blue), and, lo & behold, the 1040 corrected itself.
The RMD distributions from my IRA show up in the summary form as Pension distributions.
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 ... See more...
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 so... See more...
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.   Ple... See more...
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 
i am getting the message invalide code with message to communicate with [phone number removed] which is call centre in India where the agent has asked me to access to my computer remotly ???!!!
My 1099-R has an amount in box 2a (taxable amount) for a nonqualified annuity purchased with after-tax money. The annuity should therefore be only partially taxable, but after entering the 1099-R, it... See more...
My 1099-R has an amount in box 2a (taxable amount) for a nonqualified annuity purchased with after-tax money. The annuity should therefore be only partially taxable, but after entering the 1099-R, it does not provide any  interview questions that allow me to enter the data needed to calculate the correct taxable amount per Pub 939 General Rule or Simplified Method. Can you tell me where this can be entered?
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 ye... See more...
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
I need help getting my identification number
Alors comment puis je reclammer un remboursement!? Parce que clairement si j'achete le logiciel c'est pour qu'il soit fonctionnel!?
Thank you!
The TurboTax Free online edition is for very simple tax returns that do not require any other form or schedule other than the Form 1040.  If your tax data requires entry on any other form or schedule... See more...
The TurboTax Free online edition is for very simple tax returns that do not require any other form or schedule other than the Form 1040.  If your tax data requires entry on any other form or schedule then you must upgrade to the Deluxe edition or higher.   If you have not paid for the online edition you are using, have not filed your tax return or registered the Free edition, then you can clear your return and start over with a lower priced edition. Click on Switch Products on the lower left side of the program screen while working on the 2025 online tax return. Click on Clear & Start Over   Go to this TurboTax website for the Free online edition - https://turbotax.intuit.com/personal-taxes/online/free-edition.jsp   Please Note - TurboTax Online: Important Details about Filing Form 1040 Returns with Limited Credits A Form 1040 return with limited credits is one that's filed using IRS Form 1040 only (with the exception of the specific covered situations described below). Roughly 37% of taxpayers are eligible. If you have a Form 1040 return and are claiming limited credits only, you can file for free yourself with TurboTax Free Edition or TurboTax Live Assisted Basic (if available), or you can file with TurboTax Full Service at the listed price. Situations covered (assuming no added tax complexity): W-2 income Interest or dividends (1099-INT/1099-DIV) that don’t require filing a Schedule B IRS standard deduction Earned Income Tax Credit (EITC) Child Tax Credit (CTC) Student loan interest deduction Situations not covered: Itemized deductions claimed on Schedule A Unemployment income reported on a 1099-G Business or 1099-NEC income Stock sales (including crypto investments) Rental property income Credits, deductions and income reported on other forms or schedules
We purchased a new central air conditioner that cools both our private home and our short-term rental simultaneously. Is it still considered to be used 100% for business use even though both areas ge... See more...
We purchased a new central air conditioner that cools both our private home and our short-term rental simultaneously. Is it still considered to be used 100% for business use even though both areas get cooled?
Improvements are listed as assets. Follow these steeps to explore the possibilities: Open to your rental schedule and locate the assets section. Program asks Did you buy any items that cost $2500... See more...
Improvements are listed as assets. Follow these steeps to explore the possibilities: Open to your rental schedule and locate the assets section. Program asks Did you buy any items that cost $2500 or less? Select your answer based on the cost of the lift. If the lift was $2500 or less, the program will let you take it all here. If over $2500, select intangibles to enter the lift. Program asks Do you want to take the Special Depreciation Allowance? If you installed the lift after January 19, 2025 you can take the Special Depreciation Allowance of 100% and write off the lift this year. Select Yes   You do have another option: deduct up to $15,000 this year because it is a wheelchair lift- it is a removal of architectural barriers. You would not list as an asset. It is just an other expense. Description: Section 190 barrier removal.