All Posts

This will be reported on Form 4797 in Section IV before being allocated pro rata to the partners on Schedule K-1 (1065) Box 20 Code M. The IRS pub to reference is Publication 544 (2025), Sales and Other Dispositions of Assets, and the Instructions for the 4797 Part IV are on page 12 here.    More guidance and 1040 information: TurboTax - Depreciation Recapture: Definition, Calculation, and Examples

First, you have to meet all the qualifications, or else TurboTax will not show you the screen for the Oregon Medical Expense Subtractions (nor should it).   These qualifications are: You (or your spouse) must be the age of 66 before the end of the tax year (in the case of tax year 2025 - December 31, 2025) Your federal AGI wasn’t more than $200,000 ($100,000 if your filing status is single or married filing separately) You or your spouse has medical expenses (but does not apply to dependents) If your return meets all three of these conditions, then TurboTax will show you on the screen "Here's the income that Oregon handles differently" the subheading, "Medical".    The line "Oregon Medical Expense Subtraction" is under Medical. Yes, it says "Medical Expense Subtraction", not "Special Oregon Medical Expense".   Clicking on Start (or whatever the button says) for "Oregon Medical Expense Subtraction" will show you a screen that will show the total of the medical expenses that you listed on the federal return, and ask you to allocate the expenses to each spouse, per Oregon law. You can read more about this on page 83 and following in Oregon Publication OR-17, which is an update to Oregon tax law.    Once you enter the allocated medical expenses, the special medical expenses will appear with code 351 in Section B on form OR-ASC.

Yes- your Wisconsin tax return has not been e-filed successfully due to changes related to Wisconsin's retirement income.   Details: We're updating TurboTax for a recent change to Wisconsin's retirement income section. The update will be available on February 26, 2026. On or after that date, please log in and ensure your product has been updated (online versions update automatically). Make any changes based on the following guidelines, complete a final review and resubmit your return. 1. If all of your retirement income is from qualified plans -- like a 401(k), 403(b), or government pension -- you can simply review and resubmit. Most workplace retirement plans are qualified. 2. If you have retirement income from a non-qualified plan (uncommon), go to Retirement Benefits Adjustments and follow the steps to update your amounts before resubmitting. We truly apologize for any inconvenience this might have caused.

The senior deduction is automatically calculated by TurboTax based on the dates of birth you entered for each spouse.   The senior additional deduction is not included in the standard deduction but appears on line 37 of Schedule 1-A of your form 1040, with that amount flowing to line 13b of your form 1040.   In TurboTax Online, you can only view Schedule 1-A after registering and paying the TurboTax fee.   But you can preview your form 1040 and check line 13b of your form 1040 which includes the senior deduction among other deductions if applicable, such as the tip deduction, the overtime or the car loan interest deduction.   to preview your form 1040 in TurboTax Online, follow these steps:   Open your return In the left-hand column, locate Tax Tools, click on the drop-down arrow then click on Tools On the Tools Center page, click on View Tax Summary In the left-hand column, click on Preview my 1040 Your form 1040 will display. Scroll down to line 13b   and you should see the amount of this deduction included in this line.  

You can purchase TurboTax Desktop version for TY2025 by using this link: https://turbotax.intuit.ca/tax/software/desktop#products-pricing Simply click on Product & Pricing; this will take you to the various versions, where you can make your purchase by selecting the version you want to use.   Thank you for choosing TurboTax.

First of all, today isn't over yet. If the IRS says they will deposit your refund today, it doesn't mean they will do it first thing in the morning. Secondly, the amount of time that it takes for a bank to post a deposit to your account varies. They do not necessarily post a deposit the instant that they receive it. Even if the bank gets the deposit from the IRS sometime today, it might not appear in your account until tomorrow, or even later. Different banks take different amounts of time to process deposits.   The information in "Where's My Refund?" on the IRS web site is updated only once a day, overnight. Whatever it says this morning, it's going to say the same thing all day. There is no point in checking it more than once a day. Did you use the option to have your TurboTax fees deducted from your refund? If so, it does not go directly from the IRS to your bank. It has to go through an intermediary bank that deducts the fees and sends the remainder to your bank. That process takes extra days.  

James,   In my Description of Amount in Box 3 on my Social Security form it states $5863.00 Paid in 2025 for 2024. That is what I entered in Lump Sum distribution. Turbo Tax made what ever adjustment you do in the computer program and came up with the amount of $5131. 00 . When I get to the Federal Review I get a message saying that figure can not be more than a figure about $4361 because it can't be more than 85% of what my Social Security was last year. The problem with that is due to Windfall Elimination my monthly cash payment was less than half of what I receive now. I know someone who does taxes who told me they do not put a ceiling on the amount, because the lump sum payment is whatever it is. So, why do you? What do I do now?