All Posts

  Gambling To enter the W-2G  or other documents For your Gambling winnings--Go to Federal>Wages & Income>Less Common Income>Gambling Winnings You can enter your winnings, and then keep clicking through the interview to enter gambling losses.   https://www.irs.gov/help/ita/how-do-i-claim-my-gambling-winnings-and-or-losses   Gambling winnings are taxable income.  Losses are an itemized deduction.  If you do not have enough itemized deductions to exceed your standard deduction, your losses will have no effect. https://blog.turbotax.intuit.com/income-and-investments/how-are-gambling-winnings-taxed-8891/     2025 STANDARD DEDUCTION AMOUNTS SINGLE $15,750  (65 or older/legally blind + $2000) MARRIED FILING SEPARATELY $15,750  (65 or older/legally blind +1600) MARRIED FILING JOINTLY $31,500  (65 or older/legally blind + $1600) HEAD OF HOUSEHOLD $23,625 (65 or older/legally blind + $2000)   @mmagan

  I am using TT Premier. I have been importing for years so I am not new at this. When I try to import 1099s from Fidelity I get the same message:  "Success! We got your tax data. You can now return to TurboTax."  But there's nothing there in TT. No data.  I have been trying this on various days since Feb 19, 2026 with no success.  I switched the default browser from Edge to Chrome and restarted Turbotax and tried again and Turbotax completed the import. When using various other web sites, I have seen more frequently that they say to use a modern browser such as Chrome in order to use a particular site. 

The rejections happen due to the IRS rules when either:    VIN is incorrect (Rejection code F8936-030-01)  Your tax ID and VIN do not match in the IRS database (Rejection code F8936-046)  The credit type claimed and the amount entered on the Schedule A of Form 8936 is not matching the IRS database (Rejection code F8936-0047)  The purchase date is inconsistent with the IRS database (Rejection code F8936-048). Please follow these steps:   Check the report that you received from the dealer and make sure it is correct and matches what you have entered on your tax return.  Dealers who sell vehicles eligible for a used (previously owned) vehicle credit under IRC 25E must furnish a report to the buyer at the time of sale and also to IRS for those vehicles to be eligible for a credit under IRC 25E Contact the dealer and make sure that they provided the correct information to the IRS and/or that they did provide the sale information to the IRS. If you can prove that number 1 and 2 are true and the IRS still rejects your tax return, you will have to print and mail the return. You will also need to send proof that proves you got the credit.   Clean vehicle credit seller or dealer requirements | Internal Revenue Service   @tej233 

Once you uploaded the 1099-R, did you go through the remaining screens of the 1099-R interview and answer all the questions that popped up? (such as the "Do any of these situations apply to you?", "Did you roll over all . . .", etc.).  You'll often see refund amounts in TurboTax change right after a form is imported, but the refund will go back up once all the questions following that form are answered.   Are you getting any errors when you do a Federal Review on your return?  This may be helpful to determine what might be going on.   As you mentioned, you have enough basis in contributions ($50,000) such that you can withdraw $12,000 from the account without incurring any taxes on it.

You cannot change or add anything on the return that you just e-filed, nor can you stop it.  It is too late, just like when you put an envelope in a US mailbox on the corner.  The IRS does not allow you to take it back.   If you left out a W-2, a 1099G, or a dependent, or a 1099 etc…DO NOT change your return while it is “pending.”  The changes will go nowhere.   Now you have to wait until the IRS either rejects or accepts your return.  If your return is rejected, you will be able to go into your account and make the necessary changes to your tax return and re-submit your return.    Sometimes—not always— the IRS corrects your mistakes, while they are processing your return.    If the IRS accepts your return, however, then you have to wait longer until it has been fully processed and you have received your refund.  THEN you can prepare an amended tax return and e-file or mail  it in. You have to be able to work from that return exactly the way it was when it was e-filed originally.  You will need to use a form called a 1040X.     Meanwhile, DO NOT go in and start changing anything on your return in the system, or you will make a mess for yourself.  Sit tight and wait until you see what the IRS does with the return you just e-filed   The Form 1040X is scheduled to be available on March 4.  The date is subject to change, so check on 3-4 to see if it is ready.   Before that, do not change anything at all on your return.

Thank you so much for your reply, it is very helpful. You assumption is correct it is rolled over from a Roth IRA to another Roth IRA.  The rollover check was made to the receiving financial institute. I called the company who issued the incorrect 1099R and was on the phone for over an hour being transferred from group to group, they still did not take my request to issue a corrected 100R form.   On the 1099R form I received field 1 shows the gross distribution (not a big number).  The 2a (taxable amount) is 0.    When you said “ In this case you'll need to obtain a corrected Form 1099-R showing that $0 was distributed from the original Roth IRA. “  Do you mean the taxable amount to be “0”.    If so, can this 1099 still be used?   My understanding is that if I file form 4852, I will not be able to file my tax electronically.   Thank you

You do not have to check off that you are retired anywhere.    When it asks for your "occupation" you can use "Retired" if you want to.   The IRS does not use that information for anything that affects your tax due or refund.      Go to Federal> Wages & Income>>Retirement Plans and Social Security  (SSA1099 and 1099RRB) to enter your SSA1099.     To enter your retirement income, Go to  Federal> Wages and Income>Retirement Plans and Social Security>IRA  401 k) Pension Plan Withdrawals to enter your 1099R.      

If you use a third-party payment service, such as Square, you should get a 1099-K and you can use that.  Otherwise, at this time, because of IRS regulations, tips can only be claimed if they are first reported on a tax form, such as Form 1099 or W-2.    I suggest you keep the tip log (as you should regardless) and if the IRS changes their reporting requirements, you can file an amended return for the "No Tax on Tips" additional deduction. 

To enter worthless stock as investment sales in TurboTax Premier desktop:   Under FEDERAL TAXES tab,  Wages& Income, select Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B) under Investments and Savings. Did you have investment income in 2025? YES On the Let's finish pulling in your investment income- click on the Add Investment button On the Let Us Enter Your Bank and Brokerage Tax Documents, click on Skip Import OK, let's start with one investment type- choose Other then Continue Tell us more about this sale  Worthless Stock Continue Now, enter one sale for WORTHLESS STOCK (Proceeds=0 Date sold or disposed= 12/31/2025) Let us know if any of these situations apply to this sale  This was a worthless security  Continue   To enter worthless stock as investment sales in TurboTax Premium online: From the Federal section, under Wages & Income, Select Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B, 1099-DA) under Investments and Savings On the Let’s finish pulling in your investment income page, click on Add investments. On the Save time and connect your financial accounts click on Enter a different way On the How do you want to add your docs? click on Type it in myself On the OK, let's start with one investment type, click on Other and Continue On the Tell us more about this sale, type Worthless Stock On the Now, enter one sale for Worthless Stock, complete the information using 12/31/2025 asDate sold or disposed and zero for Proceeds.  Enter your original investment for Cost or other basis   You may deduct the cost or other basis of stock in the year that it becomes completely worthless.  See Losses (Homes, Stocks, Other Property).

Currently, employers are not required to report overtime separately on your W-2.  Please see these steps from 'How do I enter overtime pay in TurboTax Online' for finding and reporting your deductible overtime premium, by using your final paystub of the year:  Your overtime is listed on your pay stub   Use your year-end pay stub. It’s the last pay stub you receive for the year, and it shows your total earnings and taxes for the entire year. You should get this at the end of December or in early January.   If you didn't work at your job all year, you'll use the last pay stub you had from your employer, in the Wages & Income section of TurboTax:    Go to the W-2 screen under under Wages & Income.   Add or edit your W-2 for the employer where you worked overtime.   After entering your W-2, look for the Let's check for other situations screen.   Check the box next to Overtime.   Continue until you see the Let’s see if your overtime qualifies as tax-free screen. Select Help me calculate my eligible overtime.   Look for the What info do you have about your overtime screen.   Choose No to Did you get a statement or letter from your employer with your eligible overtime?   Choose Yes to Do you have a year-end pay stub that shows your total overtime for 2025?   TurboTax will ask you for your overtime that was paid at time-and-a-half and double time, and will calculate your deduction for you. If, however, you have a more complicated situation that includes getting paid at a rate other than time-and-a-half, such as double-time, then you may need to ask your employer to provide you the premium number, or calculate it on your own.  If you are unable to use your final paystub to find your total overtime for the year, the above knowledge article has alternative instructions for deducting your overtime premium, using your own calculations, or statements from your employer's human resources.  Learn more about your eligibility for this deduction, here.

This is going to go in the sale of business property.  Because you had taken the truck out of service you will only need to enter the business portion of the truck sale.  You can skip the personal portion.

I appreciate the information however if this is non-employee compensation can I just enter it into box 1 since turbotax is not making box 3 available for some reason and hasnt fixed in two year 2020 and 2021. they really need to get there **bleep** together

To make sure if you were charged for health insurance premiums past June, follow these steps:   Review Bank Statements: Check your bank statements for similar charges incurred since June. Marketplace Insurance Verification: If your health insurance was obtained through the Health Insurance Marketplace, go to Healthcare.gov. Download Form 1095-A: Download your Form 1095-A from the website. Check Coverage Dates: Refer to Part 1, lines 10 and 11 to make sure the coverage start and end dates. Review Monthly Premiums: Look at Part 3 to see a breakdown of the monthly premiums.