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The $3000 loss limit only applies if you do not have gains that can be offset.     If your gains are greater than $3000 and your losses (including carryover losses) are greater than $3000, then any amount of loss can be used to completely offset your gains.  Then, you can claim up to $3000 more in losses to offset ordinary income and carryover the rest.     The $3000 loss limitation only applies when there are no gains that can be offset by the loss.  Then up to $3000 of loss per year may be used to offset ordinary income.

To enter income into TurboTax Online, click Federal down the left side of the screen.   Then click Wages & Income down the left side of the screen.   A variety of income sources should be listed on the screen.   See this TurboTax Help.

Ya me había comunicado y me dijeron que debía comunicarme a las oficinas que se encargan del reembolso estatal de Missouri, ya que ellos se encargan de los reembolsos federales únicamente, y nunca a sido posible comunicarme con dicha entidad.  

If eligible you will find this on Schedule 1-A Part V and line 13b of your form 1040. TurboTax will automatically calculate it based on your date of birth and your income.  There is not a special section or box to check.  Just enter your correct information and TurboTax will take it from there.     If you do not see the deduction on line 13b of your form 1040, then look below to see if he meets the rest of the criteria to claim the bonus deduction. In order to qualify for the deduction, he must meet the criteria below.    For Tax Year 2025 through 2028, seniors may claim an additional deduction of $6,000 per taxpayer over 65.  This is NOT a refundable credit.  This is a deduction of your income.  If your income is above $75,000 ($150,000 if Married filing jointly) the bonus deduction decreases by $.06 for every dollar over the relevant amount.  This deduction is available whether you itemize or take the standard deduction. If your filing status is married filing separately you are not eligible for this deduction. This bonus deduction is ONLY for those who were 65 or older as of December 31, 2025, it does not apply to those who are blind and under 65  

you would need to do a re-characterization from Roth to Traditional (including any earnings in the Roth from this contribution) and you would enter that in your 2025 taxes in the IRA section but enter it as Roth contribution and answer the questions about the re-characterization (see guide below).   assuming you are classifying the Trad IRA contribution as non-deductible it should reflect on Form 8606 Line 1 in your return with basis carried over to 2026 on Line 14 (the subsequent Roth conversion part is a 2026 tax event - see below).   next year you'll get a 1099-R with code "R" for the re-characterization which doesn't do anything in your return as you already put it in for 2025.   you can then do the Roth conversion part of the backdoor process for the full amount (7000 + earnings) after the re-characterization but Roth conversions are applied in the calendar year they do not back-date to prior tax year, so you would get a 1099-R for the conversion this time next year and report in 2026 taxes.  Assuming the Trad IRA contribution was non-deductible and you have no other IRA balances other than the re-characterization, conversion of the $7000 basis would not be taxable in 2026 but any earnings above that from this whole process will be taxed.  (If you do have other Trad IRA balances (not Roth or 401k) then the conversion is considered taken from both pre-tax balance and after-tax basis across all your IRAs, and your conversion taxed accordingly).   not a CPA but that's my understanding, hope that helps, see also:   https://ttlc.intuit.com/turbotax-support/en-us/help-article/retirement-income/recharacterize-roth-ira-contribution-traditional/L6VoYVkaP_US_en_US   https://ttlc.intuit.com/turbotax-support/en-us/help-article/retirement-benefits/difference-conversion-recharacterization/L9jeWhmJx_US_en_US   https://ttlc.intuit.com/turbotax-support/en-us/help-article/retirement-benefits/enter-backdoor-roth-ira-conversion/L7gGPjKVY_US_en_US  

Estimating capital gains for the next year is like picking numbers on a lottery card.  It's your best guess! You can use your results from 2025 If you know that you intend to sell certain shares, you can project a sale price.

I'm having same issue with 2025 TT (Premier) downloading M Lynch financial data.  TT has successfully loaded my Vanguard and Fidelity data with no issue.  ML advised that I delete cookies and cache image, but this didn't work.  ML then indicated I needed to call TT for fix.  I've worked thru 2 TT reps with no success.  They now tell me to call back and speak to tax advisor so they can do a "workaround" to get the ML data into TT.

Your state estimated tax payments will serve as a credit your state tax liability and have to be entered on your tax return.   You enter your state estimated tax payments in the Federal section and they will flow through to your state return.   In TurboTax Online, you can enter the state estimated taxes you paid by following these steps:   Open your tax return Click on Federal in the left-hand column, then Deductions & Credits  Locate the section named Estimates and Other Taxes Paid and click on the arrow on the right  Click on Start next to Estimated Tax Payments On the next page, click Start next to State estimated taxes for 2025.  

To unlock the business section in TurboTax and add business income, follow these steps: 1. In TurboTax, go to the Federal Taxes section. 2. Select Business or Income & Expenses depending on your version. 3. Choose Add a Business or Start/Update Business Income. 4. Follow the prompts to enter your business details and income.  

When you choose to add another Form 1099-SA, there should be a question or a check box that asks who the form belongs to.  This should show up before you are asked to enter the details from the Form 1099-SA.  All of the Form 1099-SA entries are in the same place, not really associated with the other HSA entries that are separated by which person is covered by the HDHP.     If you still do not see it, please share what version of TurboTax you are using so someone can take a closer look and try to guide you in greater detail.  

I’m in the same boat as them and no the money has not been offset I wish y’all just stop coming up with whatever and give a real response if you don’t know just say you don’t know instead of giving us useless information that is not going to help us get our money @CatinaT1 

You are able to correct the California Military Retired Pension Exclusion in TurboTax, in the California state income tax return.   At the screen Any Pension or Annuity Adjustments?, it states:   If your pension or annuity distribution has a California taxable amount that is less than your federal taxable amount, enter the difference as a Subtraction.

Para presentar la declaración de impuestos estatales en línea después de presentar la declaración federal en TurboTax Online, sigue estos pasos:   Ve a la página de Inicio de Impuestos ("Tax Home"). Desplázate hasta "Tus declaraciones de impuestos y documentos" ("Your tax returns & documents") y selecciona el año fiscal. Haz clic en "Agregar un estado" ("Add a State") para comenzar tu declaración estatal. Ingresa tu información fiscal estatal según se te indique. Envía tu declaración estatal electrónicamente.