All Posts

If you do not know what your RMD is, contact your financial advisor to assist you.   If you are being prompted to make an RMD entry, it may mean that you are required to take a distribution due to your age.   Required Minimum Distributions (RMDs) are mandatory withdrawals from retirement accounts starting at the age of 73.   If you are now at the age, but did not take the distribution, here are a few things to know:   You must immediately take the distribution to minimize penalties, which are 25% of the shortfall, or 10% if corrected within two years The first RMD must be taken by April 1 of the year following the year you reach age 73 Subsequent RMDs are required by Dec 31 annually   Once you know your RMD, here are the steps to follow to enter the RMD information in TurboTax:   Return to your 1099-R entries by clicking Review to the right of IRA, 401(k), Pension Plan Withdrawals (1099-R) in the Federal Wages & Income Click on the pencil to the right of the 1099-R Click Continue through the entries you've made "Let's get more information about your Required Minimum Distribution (RMD), enter the amount of your distribution as your RMD that was due by December 31, 2025, Continue On the next screen, "How much of this distribution applied to your December 31, 2025 RMD?", select "The entire distribution applied...", Continue When you reach, "Review your 1099-R summary, Continue (not the pencil) When you reach, "Let's go over any required minimum distributions (RMD)", Continue (not the pencil)

You need to indicate that the distribution was from an IRA, as opposed to a 401-K or similar employer plan. As you work through the questions after you enter the Form 1099-R information, you will come to a screen that says Identify the Plan, and you need to check the option that says it was an IRA.  Once you indicate the distribution is from an IRA, you will see the option to indicate it was for education expenses.   Also, if you simply withdrew your contributions to a ROTH IRA, there would be no tax or penalty. You only get taxed and/or penalized if you make a premature withdrawal of income from a ROTH IRA.   Also, you can only exempt the penalty tax, not any applicable income tax.   [Edited 3/20/26 at 6:23 AM PST] @linds6560880 

What makes you believe the investment income item has not been deleted?  In both TurboTax Online and TurboTax Desktop, from the page 'Let's Finish Pulling in Your Investment Income' clicking the down arrow, the trash can, and Yes response deleted the item from that page.   If you can give more info, we'll try to help.   @dutchlady2 

btw when you say you can't upload the 1099 what do you mean... have you tried using the import feature?  there are some general issues this year with browser permissions which need to be set for the import to work.

I've been waiting patiently since yesterday for an answer or help with my problem. I think there's a bug in Turbo Tax Deluxe that is causing this.  In line 15 (Other Contributions) of Arkansas form AR3 there are two sections: a section for specific types and amounts and a section for the total of all those types.  The section for specific types and amounts is blank. The section for the total contains a zero.  The Arkansas e-file program does not like this at all and rejects my return.  Is there anything that can be done besides mailing the return in. 

I have this issue as well.  I noticed when completing my return that the program was telling me the standard deduction was better for me even though schedule A clearly shows the itemized deductions are larger.  At that time, the 1040 was pulling the schedule A value, so I didn't worry about the interview showing the opposite.   Unfortunately, I've just noticed - after e-filing my return - that the standard deduction got used.  I don't know when it changed from what was there previously.  Like another poster, my taxes this year are zero either way, but my carryover credit for next year is impacted.  Now I'm going to have to file an amendment after this gets fixed.   I hope this will get treated as a priority by Intuit.  This is a pretty major thing to get wrong and it will potentially impact a lot of people.

generally you can just enter summary level gain/loss, all the transaction level detail is not needed.  But if you have any sales with adjustments (wash sales, AMD, noncovered category etc) those are best entered as a separate 1099B in Turbotax using "one by one" with the details to go on Form 8949, and then enter the rest of the 1099B as summary entries, and check the totals on Schedule D.  If you don't have too many of these adjustments then entering these details avoids an extra mailing to IRS - you can also just make adjustments to summary entries but will need to mail the details (from your 1099B) to the IRS on Form 8453 (or if you have TT online you can upload a PDF to satisfy this).   See:   https://ttlc.intuit.com/turbotax-support/en-us/help-article/form-1099-b/need-include-1099-b-return/L0ygGdIiE_US_en_US   https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/need-mail-form-8453-u-individual-income-tax-irs-e/L5gK5lbax_US_en_US  

This has been really aggravating with this process I have never had any issues with my taxes, first time filing Turbo and last my thing is it should not take this long to process a check. It’s been two weeks and I still haven’t received my money this is some bs.

Workers' compensation  received  for an injury like a broken leg is generally not taxable at the federal or state level. Compensation for physical injury/sickness is generally tax-free.   Because of this, it is not usually reported in Box 3 of a Form 1099-MISC and it should not be included in your gross income on your tax return.   If this is the case, it appears your Form 1099-MISC was issued incorrectly and you should contact the issuer of the form to get a corrected one.  If they confirm that this is the case, you likely will not have to report this on your tax return. But you should get a corrected form so the IRS knows it was not taxable.   If you are unable to file by April 15 because of this issue, you can request an extension to file your tax return at that time.   To apply for an extension in your TurboTax program you can do the following: Click on the search icon in the upper right of your TurboTax screen Type "extend" in your search box Click on the link "Jump to extend" Your screen will say "Applying for an Extension" Answer "Yes" to the question "program," Select "Continue" Follow the TurboTax screens and answer all of the follow-up questions Click here for How to File a Tax Extension: A Step-By-Step Guide   You can also click this link federal tax extension to start an extension for your federal income tax return. Please return to Community if you have any additional information or questions and we would be happy to help.  

I tried to re-create your problem in TurboTax Desktop, but the software automatically adds the bonus depreciation back on line 2 of CT-1040. Are you using TurboTax Online? If so, you may need to finish answering all the questions in the State Taxes interview screens about Connecticut before everything fully populates onto the return.    Try getting through to the end of the state tax section, getting past the review, and then printing and checking the form again.    This will likely be your issue in the desktop software as well; I couldn't get anything to popuate onto CT-1040 until all the questions had been answered under State Taxes.