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If you sold the business in 2025 but didn't receive all the sales proceeds until 2026, you have an installment sale. You would report the sale in 2025 but not all of the income until 2026. You do tha... See more...
If you sold the business in 2025 but didn't receive all the sales proceeds until 2026, you have an installment sale. You would report the sale in 2025 but not all of the income until 2026. You do that by answering "yes" to the question you will see asking if the sale is reported as an installment sale.   When you update your Business Profile, you need to check the box that says Disposed of business in current year. On the screen that says Tell us about your Business, check the box that says you disposed of the business in the current year, then a screen will pop up that says Did you dispose of the business in any of the following ways? One of the responses will mention reporting the sale on the installment method. You need to check that box. Also, when you report the sale of assets, you will be asked if you want to report it as an installment sale.    @Baitwoman 
It sound like you have 2 separate accounts going.  You can simply abandon the one you don't want to continue with. You can also choose Tax Tools on the left of your screen, then Clear and Start Over ... See more...
It sound like you have 2 separate accounts going.  You can simply abandon the one you don't want to continue with. You can also choose Tax Tools on the left of your screen, then Clear and Start Over to clear the account, but you don't need to start over as it sounds like you already did so in another account.   See: How do I clear and start over?
Thank you   So, should I wait until the IRS deducts by $$ on 4/10?   Some online say it will confuse them   Would I get a fee/penalty to wait until I see the deduction from my bank account?   W... See more...
Thank you   So, should I wait until the IRS deducts by $$ on 4/10?   Some online say it will confuse them   Would I get a fee/penalty to wait until I see the deduction from my bank account?   When I do amend, it would see I'd just go to deductions and remove my numbers, does that sound right?  
So, just to confirm, you received a message from TurboTax that you had excess contributions of $1,491, right?    Next, you did not have a carryover of excess contributions from 2024, right?   ... See more...
So, just to confirm, you received a message from TurboTax that you had excess contributions of $1,491, right?    Next, you did not have a carryover of excess contributions from 2024, right?   Third, on the screen "Let's enter [your name]'s HSA contributions", the first line had 9,549, right? Did you enter anything as a "personal" contribution in the second line?   Last, did you spouse make any HSA contributions?   Online TurboTax is a DIY product, meant to help taxpayers who want to do their tax returns themselves. But taxpayers can have the occasional question. This is why you are offered "Expert Assist" or can click on "Live Tax Advice" to ask as few or as many questions as you have or even ask a TurboTax credentialed tax professional to simply do your return (TurboTax Expert Full Service). The Community is available here as a free place for you to ask questions, with the understanding that unlike the fee-based services, we in the Community cannot see your private tax data, which means that you have to provide much more detail and context for your questions.
Thanks for the clarification, I avoid calling the CRA bc it takes such a long time to be able to reach anyone, but the webpage is clear I think lottery winning and sweepstakes are non-taxable income ... See more...
Thanks for the clarification, I avoid calling the CRA bc it takes such a long time to be able to reach anyone, but the webpage is clear I think lottery winning and sweepstakes are non-taxable income and do not need to be declared, no matter if the prize is won outside of Canada.   Whatever the USA gov retained is unlikely I will get back any of it, but it makes things easier for me and also means I do not have to pay for filing taxes with TurboTax.
Are you sure you are logged into the same account you used last year when filing your 2024 return?  
Yes, there are charges associated with the software and add-ons for DIY software, unless you qualify for the free version.  Since the amount doesn't agree to what you expected, take a look at the rec... See more...
Yes, there are charges associated with the software and add-ons for DIY software, unless you qualify for the free version.  Since the amount doesn't agree to what you expected, take a look at the receipt- go to Tax Home” > Intuit Account >.Products & billing You may also have an e-mail receipt with an itemized bill.
Here is an FAQ about handling identity verification requests from the IRS.   If you have not received a letter yet, you will be.
In TurboTax Canada Online, an 8-return package (such as Deluxe) is designed to file multiple returns, but generally, one activation code/purchase is linked to one specific Intuit account. You cannot ... See more...
In TurboTax Canada Online, an 8-return package (such as Deluxe) is designed to file multiple returns, but generally, one activation code/purchase is linked to one specific Intuit account. You cannot directly apply a single Costco license code to four different, separate user accounts.   Thank you for choosing TurboTax.
I need to do taxes for my s-corp and I need to do my personal taxes.  Could I purchase just the desktop (business or home & Business) or do I have to purchase twice (the business & the personal)?  Al... See more...
I need to do taxes for my s-corp and I need to do my personal taxes.  Could I purchase just the desktop (business or home & Business) or do I have to purchase twice (the business & the personal)?  Also, if I purchase the online would I also have to purchase twice?  
First, if you have a SSA-1099 dated 2024, at the top of your Social Security Benefit Statement, that form must be filed on your 2024 tax return, even if an amendment is now required.    If you do n... See more...
First, if you have a SSA-1099 dated 2024, at the top of your Social Security Benefit Statement, that form must be filed on your 2024 tax return, even if an amendment is now required.    If you do not see Benefits for 2024 in box 3 for any of your SSA-1099s, then all of it is considered as 2025 benefits and the lump sum option  would not apply.   The remainder of the answer assumes all SSA-1099s are dated 2025 (not 2024).   Since all SSA-1099s are in your name you will treat all as if they are one in your name. Follow the instructions below to enter your social security income and the lump sum payments for 2024. Add them together as though they were all included in one form.   You can use the Social Security  lump-sum action to reduce the amount of your taxable social security, even possibly to zero. What is a Lump-Sum Social Security Payment? The lump-sum election has always worked correctly in TurboTax. Have all tax returns available for each year included in the lump sum payment (shown on your SSA-1099).    This can be handled on your tax return for 2025. The Form SSA-1099 should show a total amount in box 5, and then the amount that is designated for each year in box 3. Worksheet 4 is included after Worksheet 2 is completed for each year.   Be sure to select "lump-sum" method of reporting in this situation which is all done on the tax return for the year of receipt of the benefits.  Enter the appropriate amounts for each year when you start that section of your return.   Continue to add each year for all years listed in box 3. There is no amendment required. Open your TurboTax Return > Search (upper right) > type ssa1099 > Click the Jump to.... Link or Click on See more > the click on social security benefits in the FAQ Select Yes you received benefits > Complete your SSA-1099 > Continue > Yes I received at least one lump sum payment for 2023 or earlier > Continue Type a year from your SSA-1099 > Enter the amount received for that year > Continue If you received a Form SSA-1099 for the earlier year enter the box 5 amount, if not enter zero or leave it blank > Continue Enter the filing status for the earlier year > Continue > Select whether you lived with a spouse in the earlier year > Continue > Enter the information from the earlier year return > Continue > Add another lump sum payment (another year from box 3) if applicable or Click Done Continue to follow the screens until you are back at the Income Summary page Also enter a zero if your Social Security benefits weren't taxable or there were none in the earlier year(s) (such as for a spouse). If you are using the TurboTax Desktop version review the Lump-Sum Social Security Worksheet in Forms.  You can also review 'Earlier Year Lump-Sum Worksheet' for each year.   @gwbaker3  [Edited: 03/09/2026 | 9:42 AM PST]
The 1099-SA could only be for withdrawals made in 2025 for medical expenses.  It would not reflect the withdrawal in February 2026 -- that will be on a 1099-SA that you will receive in 2027.   Th... See more...
The 1099-SA could only be for withdrawals made in 2025 for medical expenses.  It would not reflect the withdrawal in February 2026 -- that will be on a 1099-SA that you will receive in 2027.   There might be a workflow problem since the excess contribution could be removed from either spouse's account, the program might not know when to ask about the removal.
If you have certified the return after a review and are attempting to change the SIN, you will be unable to do so because the return has been certified, indicating that the information is correct. ... See more...
If you have certified the return after a review and are attempting to change the SIN, you will be unable to do so because the return has been certified, indicating that the information is correct. You would need to make a copy and then edit the SIN for your spouse's return, but it will require you to pay a fee for this. Please contact product support so they can look into it and assist you.   Let me know how it goes!   Thank you for choosing TurboTax.
Yes, some of these do qualify for the 100% bonus depreciation while others do not. it all depends if the changes were structural or not. Any structural and permanent part of the building are not elig... See more...
Yes, some of these do qualify for the 100% bonus depreciation while others do not. it all depends if the changes were structural or not. Any structural and permanent part of the building are not eligible for bonus depreciation and must be depreciated over 27.5 years. However, some 5-7 year property can is eligible for the 100% bonus deprecation. Here are some examples that is immediately eligible for this  depreciation and what can't.   These are not structural components of the building thus are eligible for 100% bonus depreciation.   Refrigerator  Cooktop Garbage disposal Some electrical work (if it is dedicated equipment wiring, not building wiring) Possibly recessed lighting fixtures (if they qualify as equipment, not building systems) If they do become part of the structure of the building and are not easily removed, then they are not eligible for the deduction. These are structural components and are not eligible for ‌bonus depreciation and are subject to the 27.5 depreciation convention.   Kitchen cabinets  Countertops Sink General building electrical wiring Anything considered part of the building’s “real property” For those items that i mention that are eligible, here is how to report these.   Open your rental property in TurboTax.  Go to Assets/Depreciation. Choose Add an asset. Select Appliances, furniture, or equipment (NOT “Residential Real Estate”). Enter each qualifying item separately: Refrigerator  Cooktop Garbage disposal Eligible electrical components When TurboTax asks whether the item qualifies for 100% bonus depreciation, answer Yes. TurboTax will then expense the entire cost in 2025.      
Once you start a return, if it contains incorrect data, the only way to fix it is to do it manually. TurboTax does not compute NOL carryforwards, you need Form 172   
J'ai effacé le formulaire TP-726.7. Je l'ai ensuite fermé.  J'ai été capable de sauvegarder en PDF la déclaration et de l'envoyer. Merci.
Pennsylvania and Maryland have tax reciprocity, which means that even though your work in Maryland, your W2 income will be taxed in your home state of Pennsylvania.   To include your W2 wages on ... See more...
Pennsylvania and Maryland have tax reciprocity, which means that even though your work in Maryland, your W2 income will be taxed in your home state of Pennsylvania.   To include your W2 wages on your PA tax return in TurboTax:   1. Go to State Taxes and open the Pennsylvania tax return   2. Confirm your PA filing status, county and school district   3. You will see a screen called Compensation Summary, which should show your W2. Click on the pencil icon.    4. You will see a screen with detailed W2 information. Click on the box that says Make this income taxable in PA.