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aircoac

where to enter 1099s from sale of portion of my business land that goverment wanted by eminent domain

CesarJ

If you stopped using the vehicle for business in this tax year but plan to use it again for business in the future, you should still check the box for "Stopped using this vehicle in [tax year]". Turb...

If you stopped using the vehicle for business in this tax year but plan to use it again for business in the future, you should still check the box for "Stopped using this vehicle in [tax year]". TurboTax treats this as a temporary stop for the current year and will prompt you to enter the date you stopped. This helps TurboTax calculate your business use percentage correctly for the year you stopped using the vehicle. If you resume business use in a future year, you can enter that information then without affecting this year's return. @DougTheComputerGuy

JamesG1

The Qualified overtime deduction is for overtime pay that is required by the 1939 Fairs Labor Standards Act. In addition, the employee must not be exempt from the Fair Labor Standards Act. FLSA ...

The Qualified overtime deduction is for overtime pay that is required by the 1939 Fairs Labor Standards Act. In addition, the employee must not be exempt from the Fair Labor Standards Act. FLSA Type N - Non-Exempt refers to being non-exempt from the Fair Labor Standards Act, so the Qualified overtime deduction is available to you. For tax years 2025 through 2028, individuals who receive qualified overtime compensation may deduct the pay that exceeds their regular rate of pay (generally, the “half” portion of “time-and-a-half” compensation) that is required by the Fair Labor Standards Act and reported on a Form W-2, Form 1099, or other specified statement furnished to the individual. Maximum annual deduction is $12,500 ($25,000 for joint filers). Deduction phases out for taxpayers with modified adjusted gross income over $150,000 ($300,000 for joint filers). The deduction is available for both itemizing and non-itemizing taxpayers.

jinjin00

@TurboTaxAniqua I have the same issue. Please link my account. Thanks! " This should not have happened. Don't worry - your data has been saved. Our TurboTax application has stopped working p...

@TurboTaxAniqua I have the same issue. Please link my account. Thanks! " This should not have happened. Don't worry - your data has been saved. Our TurboTax application has stopped working properly. It rarely happens; we're sorry it happened when you were using it. Maybe the puppy helps, but you're probably mad and we're already hard at work fixing it. "

LeticiaF1

To flag a topic on TurboTax Desktop, select the Flag icon on the top right corner. @JTO49

VMRennell

MFJ importing K-1 TXT files the first time. The K-1' imported files assign the first persons Name, SSN but are actually for the 2nd person. Should I manually correct these? Will it matter in the futu...

MFJ importing K-1 TXT files the first time. The K-1' imported files assign the first persons Name, SSN but are actually for the 2nd person. Should I manually correct these? Will it matter in the future if no longer filing MFJ? Not sure investing in these dividend stocks from partnerships is going to be worth dealing with this :(

JohnB5677

I believe your posting a 1099-R Box 9a. I'd like to confirm that you entered the number 100 and not 100%. If you have ‌further questions contact us again with any further details.

AnnetteB6

Yes, if you need to file OR-40-N, then select that you are a non-resident of Oregon when you start the process of going through the Oregon return, or go through it again from the beginning. A...

Yes, if you need to file OR-40-N, then select that you are a non-resident of Oregon when you start the process of going through the Oregon return, or go through it again from the beginning. Also, go to your My Info or Personal Info section in the Federal return and be sure you indicate that your state of residence is somewhere other than Oregon, or that you lived in more than one state during the year.

CesarJ

The government allowed COVID-related withdrawals from 401(k) plans without the usual 10% early withdrawal penalty for distributions made before December 31, 2020, under the CARES Act. There is no ...

The government allowed COVID-related withdrawals from 401(k) plans without the usual 10% early withdrawal penalty for distributions made before December 31, 2020, under the CARES Act. There is no general requirement to pay interest on COVID-19 related 401(k) withdrawals reported on your tax return. To determine if you were affected, check if you took a COVID-related withdrawal in 2020 using Form 1099-R and reported it on tax Form 8915-F or earlier versions for disaster distributions. If you used the option to spread the tax on the distribution over three years, you might see portions taxable in upcoming years.

MindyB

Yes, you do still owe tax to Maryland. Maryland generally taxes its residents on their entire income, regardless of where it is earned. Because you maintained your Maryland domicile, evidenced by you...

Yes, you do still owe tax to Maryland. Maryland generally taxes its residents on their entire income, regardless of where it is earned. Because you maintained your Maryland domicile, evidenced by your intent to return after your degree and your lack of permanent legal ties to Washington, Maryland considers you a full-year resident. A temporary absence for education does not change your residency status for tax purposes. In most cases, if a resident works in another state, they pay taxes to that state and receive a credit on their Maryland return to offset the cost. However, because Washington does not have a state income tax, there is no "tax paid to another state" to credit against your Maryland liability, resulting in the full Maryland tax rate being applied to your Washington earnings.

CesarJ

If you accidentally deleted the 1099-B entry area in TurboTax Online, you can restore it by re-adding the form where you enter your 1099-B info. To restore and re-enter your 1099-B information: 1...

If you accidentally deleted the 1099-B entry area in TurboTax Online, you can restore it by re-adding the form where you enter your 1099-B info. To restore and re-enter your 1099-B information: 1. Go to the Federal Taxes section. 2. Select Wages & Income. 3. Scroll down to the Investment Income subsection. 4. Click Start or Revisit next to Stocks, Mutual Funds, Bonds, Other (this is where 1099-B is entered). 5. Choose the option to Add a Sale or Add another 1099-B. 6. Enter your 1099-B details manually or import if available. This will restore the 1099-B entry area so you can input your information again.

LeticiaF1

TurboTax transfers data from your federal return to your state return. Questions that will affect your IT-40 Form are both in your federal and state returns. In TurboTax Online, you will need to go ...

TurboTax transfers data from your federal return to your state return. Questions that will affect your IT-40 Form are both in your federal and state returns. In TurboTax Online, you will need to go through the questions on the return to edit any forms. Forms mode is only available on TurboTax Desktop. Before you begin troubleshooting your state return, go back through your federal return and make sure everything is correct. After you review your federal return, select the State Taxes tab and review the state section. Pay close attention to the information, especially if you have made changes to your federal return. There might be new sections that need to be completed. If you give us more information as to what exactly you need to edit we can give you specific information. Troubleshooting common federal to state transfer issues @AMOtis

CesarJ

If your Indiana wages are different from your federal wages, you can update the Indiana local wages in TurboTax Online as follows: 1. Go to the Federal Taxes section. 2. Select Wages & Income. 3...

If your Indiana wages are different from your federal wages, you can update the Indiana local wages in TurboTax Online as follows: 1. Go to the Federal Taxes section. 2. Select Wages & Income. 3. Find your W-2 and click Edit. 4. Scroll to the state and local wages section. 5. Update your Indiana local wages to the correct amount. 6. Save your changes. Important: Only modify Indiana local wages here if they differ from your federal wages. If they are the same, do not change them to avoid errors in your state return.

JohnB5677

Box 1 of the W-2 is the correct box to use when evaluating overtime. Box 3 is Social Security wages. However, I'd like to understand a couple of things. You're a dual-role employee This W-2 i...

Box 1 of the W-2 is the correct box to use when evaluating overtime. Box 3 is Social Security wages. However, I'd like to understand a couple of things. You're a dual-role employee This W-2 is 100% overtime. You should have a second W-2 with the same EIN for the straight-time portion of your dual role? Combine the two W-2's that are from the same EIN. The IRS will recognise the two EINs as the same and do the same calculation. This will resolve the 33,3% overtime issue. Contact us again with any additional details.

LaShaunA3

In addition to the points made by Baldietax, and assuming you are referring to estimated tax payments, one additional thing to keep in mind is that these payments show up on Form 1040, Line 26, and r...

In addition to the points made by Baldietax, and assuming you are referring to estimated tax payments, one additional thing to keep in mind is that these payments show up on Form 1040, Line 26, and roll into your total payments. Entering the correct dates and amounts is important for accuracy and penalty calculations. You can confirm what the IRS has on record by checking your account here: Access tax records

CesarJ

Foreign Social Security taxes paid to a foreign country generally don't qualify for the U.S. Foreign Tax Credit because the U.S. has Totalization Agreements with many countries. These agreements prev...

Foreign Social Security taxes paid to a foreign country generally don't qualify for the U.S. Foreign Tax Credit because the U.S. has Totalization Agreements with many countries. These agreements prevent you from being taxed twice on Social Security earnings. Therefore, taxes paid on foreign Social Security typically can't be claimed as a foreign tax credit on your US tax return. If you paid foreign income taxes on your Social Security benefits that are included in your US taxable income, you might qualify to claim a Foreign Tax Credit on those income taxes, but not on the Social Security taxes themselves. In TurboTax Online, to claim foreign taxes paid as a credit, enter your foreign income and foreign taxes under the Foreign Taxes section found in Deductions & Credits. Select Take a Credit when prompted, and follow the steps to input your foreign tax details. Keep in mind that foreign Social Security taxes are excluded from the foreign tax credit in the US system due to these international agreements.

AnnetteB6

This question is asking about your business expenses not including anything related to the home office itself. So, in this case it would be all the other business expense categories that you ...

This question is asking about your business expenses not including anything related to the home office itself. So, in this case it would be all the other business expense categories that you enter such as advertising, supplies, business license, sales tax, postage, etc. Include anything except expenses related to the home office. If your business purchases are reported as a business expense versus inventory, then yes, your business purchases will be included as well. If those other expenses are generally consistent through the year, you would allocate them to each home office according to the time each office was used based on the months you lived in each location. @zombitroid

CesarJ

An amended tax return showing the "old return amount" means it displays the figures from your original tax return before any corrections were made. This allows comparison between the original amounts...

An amended tax return showing the "old return amount" means it displays the figures from your original tax return before any corrections were made. This allows comparison between the original amounts you filed and the changes made in the amended return. The amended return includes both the old return numbers and the corrected amounts. This helps show what was changed, such as income, deductions, or credits, to update your tax filing. When reviewing an amended return in TurboTax, you see both your original amounts and the changes. This lets you compare what was filed and what you corrected. To review your amended return in TurboTax: 1. Open TurboTax and select Amend a Filed Return. 2. Choose the tax year and open your amended return file. 3. Look for sections labeled with original and corrected values. 4. Pay attention to areas like income, deductions, and credits where changes were made. 5. Review any explanations or notes about why changes occurred. This process helps you understand how your tax liability or refund changed.

LaShaunA3

Try clearing your cache and deleting your cookies. This usually resolves looping errors.

CesarJ

No. Using the annualized method is the best way for your type of seasonal business. To use the annualized method for estimated tax payments in TurboTax Online, follow these steps: 1. Go to ...

No. Using the annualized method is the best way for your type of seasonal business. To use the annualized method for estimated tax payments in TurboTax Online, follow these steps: 1. Go to the Federal Taxes section. 2. Select Deductions & Credits. 3. Scroll to and open the Estimated Tax Payments or Penalty for Underpayment of Estimated Tax section. 4. When asked, select the option to use the annualized income installment method. 5. Enter your income and deductions as prompted for each period. This method calculates your payments based on actual income earned, which can lower penalties if income varies throughout the year. These payments must be made by the quarterly deadlines: April 15, June 15, September 15, and January 15 of the following year. Meeting these thresholds protects you from penalties even if you owe additional taxes at filing. Keep in mind the IRS safe harbor rules help avoid penalties for underpayment of estimated taxes. To meet safe harbor and avoid penalties, you must pay either: 90% of the current year's tax liability through timely estimated payments or withholding, or 100% of last year's tax liability if your adjusted gross income (AGI) is under $150,000 ($110% if your AGI is $150,000 or more).

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1099S FORM WHERE TO ENTER FROM SALE OF LAND AQUERED BY CITY FOR EMINENT DEMAND IS DEPRECIATED HOME BUT LAND IS NOT DEPRECIATED?

Re: Why is Turbotax asking all questions pertaining to vehicle use when we have indicated a parti...

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MFJ K-1 TXT file first time imports

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Re: Can I get my state return for OR-40 changed to a OR-40-N online?

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Re: Earned money outside of resident state while living out of state, do I still owe?

Re: Accidentally deleted 1099B AREA from self fill in form. Ho do I restore it so I can type in i...

Re: Edit a state form via TurboTax online

Re: how can I modify input of Indiana local wages within Turbo Tax

Re: Overtime Validation Bug (Desktop Version)

Re: I paid pretax to IRS in the middle of the year for 2025. when can i claim in tax return?

Re: How do I take a credit for foreign taxes paid on my US social security?

Re: How do I take the home office deduction when I moved mid year?

Re: if you check your amend taxes and it say your old return amount

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