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Since your rollover from a 401K to an IRA is non-taxable, report it whenever you receive a 1099-R, which may be on your 2026 return. You may have received a Form 5498 for your records.    To repo... See more...
Since your rollover from a 401K to an IRA is non-taxable, report it whenever you receive a 1099-R, which may be on your 2026 return. You may have received a Form 5498 for your records.    To report a 401(k) to IRA rollover in TurboTax, enter your 1099-R form in the "Wages & Income" section, select "I moved the money to another retirement account" when asked "What did you do with the money?", and ensure the taxable amount is listed as $0. If box 7 shows Code G, the software will automatically treat it as a non-taxable rollover.    @duncanmarkc542         
Rental is a duplex in which I live in one unit.  It was consistently rented for about 35 years but only partial in 2023 and even less in 2024.  I am slowly fixing things myself, as time allows. Altho... See more...
Rental is a duplex in which I live in one unit.  It was consistently rented for about 35 years but only partial in 2023 and even less in 2024.  I am slowly fixing things myself, as time allows. Although I did spend a little on advertising, repairs, utilities (ie keeping it livable) and have a depreciation schedule, I did not rent it out (but didn't use as personal either).   Do I (should I) skip the Sch E completely until I start renting it out again?  And if so and it deletes the Sch E, how can I get Depreciation back and on track if I start renting it again in 2026?     btw - I did create to copies in turbo tax, one with and one without, and the bottom line is about $700 difference.   Thanks for any guidance.
hi, first time here.  Not sure of protocol but any guidance is appreciated.  My issue/question: It appears that TurboTax form 1116 line 18 calculation is not adjusting for the Enhanced Deduction for ... See more...
hi, first time here.  Not sure of protocol but any guidance is appreciated.  My issue/question: It appears that TurboTax form 1116 line 18 calculation is not adjusting for the Enhanced Deduction for Seniors of $6000.     Instructions read: Individuals: Enter the sum of (i) Form 1040, 1040-SR, or 1040-NR, line 11b, minus Form 1040, 1040-SR, or 1040-NR, line 14, and (ii) Schedule 1-A (Form 1040), line 37. the calculated amount does not deduct line 37 from schedule 1-A.     should i override the calculated amount or request a verification and, if needed, a fix from Turbotax? Thank you, Onway
I sold qualified small business corporation shares with capital gain. How do I report and claim lifetime cvapital gains exemption?
I'm having same exact issue. I sent file to agent. Thank you! 
Schedule M1CWFC's primary use is for all residents claiming the Child or Working Family Credit... including childless couples with lower incomes.   If you are Married Filing Jointly and your combin... See more...
Schedule M1CWFC's primary use is for all residents claiming the Child or Working Family Credit... including childless couples with lower incomes.   If you are Married Filing Jointly and your combined earned income is below $37,910 (2025), you may qualify for a small amount of the Working Family Credit (up to $379).   Minnesota recently introduced advance payments for these credits; the program may be asking if you want such payments for the next tax year (2026), regardless of whether you are actually receiving a credit this year.   You can try these steps to fix the problem (from easiest to most drastic) : Option 1: If your income is under the $37,910, the program has automatically calculated a tiny credit for you (thus, it is requiring you to answer the "Advance Payment" question at the bottom of the form). Selecting "No" or "I do not wish to receive advance payments" should satisfy the error. Option 2: Check your Personal Info section, and make sure that neither you nor your spouse accidentally had a box checked indicating you "lived apart" or are "filing separately for state purposes." Option 3: Click on Tax Tools (left bottom), then Click on Tools, and Click on Delete a Form.  Find Schedule M1CWFC and delete it. If that doesn't work, delete the whole MN return and re-enter.
You can enter any tax payments made in the Estimated tax payments section of TurboTax.  Got to:   Deduction & Credits Summary Estimates and Other Taxes Paid Estimated Tax Payments Fol... See more...
You can enter any tax payments made in the Estimated tax payments section of TurboTax.  Got to:   Deduction & Credits Summary Estimates and Other Taxes Paid Estimated Tax Payments Follow the prompts.   Remember to only input the amount due and not any interest and penalty amounts that were included in your payment, if any.
I’m still waiting on a response from the state, I wrote 4 page letter and 11 attachments, supporting every element of for 4884.  I also did get through on the customer support line after 10 tries, go... See more...
I’m still waiting on a response from the state, I wrote 4 page letter and 11 attachments, supporting every element of for 4884.  I also did get through on the customer support line after 10 tries, got in the queue for a 20 minute wait (random chance of hitting when queue has an opening) just to have some one read me the letter and say they couldn’t fix anything. I created a state online account and responded online, saving postage, but it’s been 4 weeks already with no response- they had said 6-8 weeks. I had used this form successfully last year as well.  The no reason portion is the most disturbing, along with the state changing my form. 
here is what tech support point me too.  it under their HSA instructions.  I have a 5498-SA that shows my contribution.  Turbotax says it isn't entered.  But my contribution should be a reduction fro... See more...
here is what tech support point me too.  it under their HSA instructions.  I have a 5498-SA that shows my contribution.  Turbotax says it isn't entered.  But my contribution should be a reduction from my income?    
@ greghudson1  Or are you by any chance using the Canadian version of TurboTax?   This is the USA community forum.   TurboTax Canada does have a *.tt25 file.   If using USA TurboTax, how'd you come ... See more...
@ greghudson1  Or are you by any chance using the Canadian version of TurboTax?   This is the USA community forum.   TurboTax Canada does have a *.tt25 file.   If using USA TurboTax, how'd you come up with that file extension?
To see the Child Tax Credit on your return prior to filing:   Click on Tax Tools in the menu on the left side of your screen.  Click on Tools.  Click on View Tax Summary.  Click on Pr... See more...
To see the Child Tax Credit on your return prior to filing:   Click on Tax Tools in the menu on the left side of your screen.  Click on Tools.  Click on View Tax Summary.  Click on Preview my 1040 on the left side of the screen. The Child tax credit is on line 19, and the additional child tax credit is on line 28.  
RMD Problem.  I have 4 IRAs and only 2 with distributions (A & B).  I took distributions equal to the total RMD's for the four accounts.  1099-R. The solution was to enter the RMD for A.  For the B e... See more...
RMD Problem.  I have 4 IRAs and only 2 with distributions (A & B).  I took distributions equal to the total RMD's for the four accounts.  1099-R. The solution was to enter the RMD for A.  For the B entry I entered the RMD for that and to other two accounts.
To enter Federal or State Estimated Taxes Paid, including a state estimated payment made in January 2025 (for 2024) go to Federal on left or at top (Personal for Home & Business) Deductions and Cr... See more...
To enter Federal or State Estimated Taxes Paid, including a state estimated payment made in January 2025 (for 2024) go to Federal on left or at top (Personal for Home & Business) Deductions and Credits Then scroll way down to Estimates and Other Taxes Paid Estimated Taxes - click the start button   You have to pick the right state from the drop down box and enter the right payment dates.
Inscrire 0$ sur la ligne 110 de TP80 ne fonctionne pas parce que le résultat sur la ligne 148 sera négatif. Ma solution est de tenter de transmettre la déclaration Fédérale puis de modifier le formu... See more...
Inscrire 0$ sur la ligne 110 de TP80 ne fonctionne pas parce que le résultat sur la ligne 148 sera négatif. Ma solution est de tenter de transmettre la déclaration Fédérale puis de modifier le formulaire T2125 en soustrayant le montant de la ligne 3F de celui de la ligne 3A: ainsi la ligne 110 du formulaire TP80 correspondra au montant réel des ventes et le reste des calculs seront effectués normalement.  
@greghudson1  "no matter where or what name I use with the extension provided .tt25"   Where'd you come up with that extension???   TurboTax data files in the USA end in *.tax2025 so that's confus... See more...
@greghudson1  "no matter where or what name I use with the extension provided .tt25"   Where'd you come up with that extension???   TurboTax data files in the USA end in *.tax2025 so that's confusing.   Or are you by any chance using the Canadian version of TurboTax?   See my next comment below.