All Posts

Code TT in Box 12 of your W-2  is used to report "Qualified Overtime Compensation."  This amount represents the "and-a-half" portion of your overtime pay which is now tax-free at the federal level (up to certain income limits) and qualifies for that deduction.   Do not enter the Box 12 "TT" line (in the W-2 entry screen). Continue through the "W-2 Interview": Finish entering all other boxes (1, 2, 16, etc.) and click Continue Proceed through the interview screens until the program asks, "Do any of these uncommon situations apply to this W-2?", and Select the box for Overtime pay. Enter the dollar amount that was printed next to Code TT on your W-2. This should cause the program to generate Schedule 1-A (the form used to calculate the overtime deduction and  making sure that the amount is subtracted from your taxable income on your 1040, even if the Box 12 dropdown was missing the "W" code).

Bonjour @jaglara    La PNCP aura un impact seulement dans l'année où vous déclarerez des gains en capital qui donnent droit à une exemption (Actions de petite entreprise admissible, biens agricoles ou de pêche admissible, etc). Elle est construite et s'accumule au cours des années en fonction des revenus et des dépenses de placement que vous déclarez.   Pour plus de détails, consultez: ARC: T936 Calcul de la PNCP  Revenu Québec: TP-726.6 Calcul de la PNCP    Si cette réponse répond bien à votre question, merci de l'identifier comme solution confirmée!

You can clear the entries by following these steps below.   Click the Forms icon at the bottom (or top) of your screen. In the list of forms on the left, search for "Donations" or "Donations Worksheet." Once the worksheet is open, you can manually highlight the numbers in the "Carry Forward" columns and hit Delete on your keyboard. Ensure Schedule 9 (Donations and Gifts) reflects $0 or only the current year's amounts.   If the "Carry Forward" keeps reappearing, it’s likely because it was imported from your 2024 or 2025 return. TurboTax usually has a specific page labelled "Donations made in prior years" or "Carry forward amounts." * Zero it out: If there isn't a delete button, simply change the dollar amount to 0. The software will stop applying it to your current balance.   Just a heads up—if those donations are legitimate, carry-forwards are usually a "good" thing! They can be used for up to 5 years (or 10 years for certain types of gifts). If you clear them now, you won't be able to use that tax credit to lower your balance later.   Let me know how it goes!   Thank you for choosing TurboTax.

Hi,   It wasn't rented out, but we had it open to rent or sell for those 3 months.  The sale just happened to happen first.     The property transferred to the three of us and we each have a 1099-S for our portion.   Which way will lower our AGI or give us a deduction or credit?    Thanks! Lisa

The Oklahoma Tax Commission (OTC) to send this letter (often called a "Verification of Income" or "Verification of Withholding" notice), even if you e-filed.   Oklahoma is stricter than many states. They often require a physical or scanned copy of the W-2 or 1099 to prove that the "State Tax Withheld" you claimed on your return matches the actual document.   Oklahoma also sends these requests as a primary defense against tax fraud (i.e., that a real person with real documents is filing the return).   Gather every W-2 and any 1099 that shows Oklahoma State Tax withheld (usually Box 17 on a W-2 or Box 11 on a 1099-R).   You can upload the documents through the Oklahoma Taxpayer Access Point (OkTAP) at tax.ok.gov. This is much faster than mailing.   If you prefer mail, send copies (never the originals) to the address provided in the letter. Include a copy of the letter itself so they can "match" the documents to your account.

@george-472838 I used the TurboTax Desktop program for my mock return.  I made another mock return in that program today for a married couple with a child and a $5000 W-2 income.  I entered that each spouse made contributions of $3000 each to a traditional IRA, and I did get a warning that the non-working spouse had an excess contribution of $1000 and that removing that contribution prior to the April 15 deadline would eliminate any penalty.   I retried this same scenario with each spouse having made $3000 contributions to a Roth IRA.  I got a different warning, stating that the contributions did not qualify and that I would need to proceed to the end of the deductions and credits section.  When I got there, I got a screen "IRA Contributions Results" that showed a $1000 excess Roth IRA contribution - clicking Learn More for the excess contribution revealed that there is a penalty for the excess.  To remove that penalty would require remove the excess contribution and going back into the IRA deduction screen and reducing the contribution for one or both spouses to get the contribution amount equal to the income.   Next I did one couple with a $3000 Traditional IRA contribution and the other with a $3000 Roth IRA contribution.  Similar to the previous example, I got an alert about the excess contribution on the "IRA Contributions Results" page that there was an excess $1000 contribution.

Veuillez rejoindre le service à la clientèle pour vous aider avec le partage d'écran  ou escalader à un niveau supérieur pour résolution, au besoin.    Composez le 1-888-829-8608. Faites le 8 pour le service en français. Ensuite 0 et encore 0. Lorsqu'on vous demande si vous voulez un texto ou un courriel, dites 'non'. Le robot vous demande ensuite votre prénom, ensuite votre nom de famille, et vous serez transféré à un agent:   Pendant la période des impôts de l’ouverture du service IMPÔTNET de l’ARC le 23 février 2026 au 30 avril 2026 nous sommes disponibles 7 jours sur 7 durant les heures suivantes :   De 9 h à 21 h pour le soutien en français   Merci de choisir TurboImpôt.

A business vehicle is depreciated over five years. However, if you took bonus or section 179 depreciation on the vehicle, you need to account for that when you convert the vehicle to personal use.   You should edit your business entries and on the screen that lists your income and expenses update the Business Vehicle Expense category you will see under Business Expenses. On the screen that says Tell us about your business vehicle click the box at the bottom that says I stopped using this vehicle. Later on you will be asked for the sales price, for which you can enter $0 since you did not sell the vehicle. TurboTax will report any gain or loss associated with the vehicle being removed from service and account for any depreciation recapture.