All Posts

I cleared the Savings Credit and I selected "Yes" for Student, but I'm still getting the same upgrade message. Now what? Do I need to wipe it out and start over (uggghh)? Is there any way to save out my data at this point, the .tax file is probably not there yet.

Yes, if both children are required to file a tax return, you can combine their MAGI numbers in TurboTax in the marketplace section.  If they are only filing to get their tax refunded, don't include their income.    @dennisochs 

I responded to michaelbarry06's similar question with this:   "HSA says my total contributions for 2025 is $8,288."   What happened is that you received a distribution of $328 as a return of the excess contribution and you deposited that $328 back into the HSA as a personal (not through your employer) 2025 contribution.  That combined with the $7,960 contributed via your employer in 2025 makes your total contributions for 2025 be $8,288.

If you are receiving annuity income, this would be reported in the retirement income section.  You should have received a 1099-R for this income.    You can do this by selecting the following: Federal Income I'll Choose what I work on Retirement Plans and Social Security Start next to IRA, 401 (k), Pension Plan Withdrawals (1099-R) 

Is my issue that since I put my deduction date at 4/1/2026, I have to wait until then until I file an amended return? Meaning if I'd had immediately paid my owed to IRS amount, I'd be able to e-FIle the 1040X on March 4th?

Thanks MinhT1 For my clarification, is the NET amount converted to a ROTH IRA you mentioned 1) the net amount of ROTH conversion after taxes are withheld that end up in the ROTH account, or, is it 2) the net amount of my total Traditional IRA withdrawals that was withdrawn for ROTH IRA purposes?  Thank you.

If you cash out the whole-life policy after it's been transferred to you, you are generally taxed on the amount received above the total premiums paid.    If the transfer is a gift (not a transfer for value), the basis typically carries over from the prior owner. That taxable portion is treated as ordinary income, and the insurance company will issue a Form 1099-R showing the gross and taxable amounts.     For more information, see IRS Publication 525, and the IRS Interactive Tax Assistant  

"HSA says my total contributions for 2025 is $8,288."   What happened is that you received a distribution of $328 as a return of the excess contribution and you deposited that $328 back into the HSA as a personal (not through your employer) 2025 contribution.  That combined with the $7,960 contributed via your employer in 2025 makes your total contributions for 2025 be $8,288.

You may have a Form 1098 reporting mortgage interest in your program in error. You can try to delete it and that may resolve your issue as follows:   1. Choose the Tax Tools option on your left menu bar while working on your return 2. Choose Tools 3. Choose the Delete a form option under Other Helpful links  5. Find the Form 1098 in the list and delete it 

If your return has already been ‌filed, you won't be able to make any changes. You must wait until the IRS has rejected or accepted it.   If your return was rejected, you can go back to your account and fix the errors.   Sign in to your Intuit account. Click File on the left-hand menu. Edit Refund Info: under "Step 2: Your refund info."  Select Revisit or Start. Update your bank account information.  If the return has already been accepted, you can't change the information. You may need to file an amended return.