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SyberKnight · ‎March 18, 2026

@DianeW777 again... THANK YOU SO MUCH for your help!!! i think i've got it. would you mind looking at the attached screenshot -- showing my work and where in TurboTax that info goes? if all...

@DianeW777 again... THANK YOU SO MUCH for your help!!! i think i've got it. would you mind looking at the attached screenshot -- showing my work and where in TurboTax that info goes? if all that's correct, then... 1) is it ok or a problem that TT keeps re-selecting the "recapture" option on the "Any Other Property Sales?" screen? 2) you mentioned to make sure NOT to say this was part of a trade-in -- where would that option be that i need to steer clear of? 3) and finally, you also mentioned that the "business cost" should be the same as the "cost of property" showing in my tax return. where is this that i need to make sure of? thank you thank you thank you!!!

Stevenbirn · ‎March 18, 2026

Thank you for your response. Since it is a qualified plan and will not cover my contributions in 36 months I have to use the General Rule - Simplified Method. The IRS Publication 575 gives the work...

Thank you for your response. Since it is a qualified plan and will not cover my contributions in 36 months I have to use the General Rule - Simplified Method. The IRS Publication 575 gives the worksheet and it is easy to calculate. The only problem is that Turbotax does not give me the option for New Jersey to use the simplified method, in my case dividing my contributions by 260. It only allows me to use the life expectancy factor. The only way I can think of doing it is to back into what the future value is by using the result. Is there a way Turbotax will do it correctly for the Simplified Method?

chuckcobb · ‎March 18, 2026

I finished my individual joint tax return using TurboTax Online this morning and submitted it to the IRS via e-file. To make a long story short, the IRS rejected my return five times before I figure...

I finished my individual joint tax return using TurboTax Online this morning and submitted it to the IRS via e-file. To make a long story short, the IRS rejected my return five times before I figured out how to get it accepted. I want to share what I learned from this experience to possibly enable others to avoid the consternation I went through on this. I used TurboTax for a number of years including 2024 and this is the first year that I've used TurboTax Online. For the IRS to accept a return, it needs to match the 2025 return to a matching 2024 return to verify the identity of whoever is filing the new return. If it can't find a match, it will reject the new return. It uses the 2024 Adjusted Gross Income (AGI) to match the identities of the people filing the 2025 return. Every time I filed the return it was rejected because it said it couldn't find a match for the AGI on the 2024 return. In fact, the AGI I used to find a match for the new return was exactly the same as the AGI on my 2024 return, so there was no reason that the new return should have been rejected, but the IRS uses a lot of other data including driver's license information to match the 2024 return to verify the identity of whoever is filing the new return. The first (4) times, I submitted the return and it was rejected, I tried tweaking all kinds of stuff in the identifying information on the new return, nothing worked, and the return was rejected each time. Finally, I found a solution that worked. Go to the irs.gov website and request an IP PIN for everyone included in the return. An IP PIN is used by the IRS in addition to other data to positively identify people. I added an IP PIN for both my wife and I to the return before I refiled it and it was accepted! I hope this might prevent others from having to go through the consternation I had to go through to figure this out!

DavidD66 · ‎March 18, 2026

You will report the earnings on the excess contribution as other income, but not until next year. It will be reported on your 2026 1099-SA, and you will report it on your 2026 tax return.

CP01 · ‎March 18, 2026

Thanks for responding. I don't remember TT saying "Based on your situation, the penalty has been waived" that's why I had to enter the C code in the form. To confirm since it's showing Override on th...

Thanks for responding. I don't remember TT saying "Based on your situation, the penalty has been waived" that's why I had to enter the C code in the form. To confirm since it's showing Override on the form is okay?

ljbursteinmaxwell · ‎March 18, 2026

On my K-1, Box 20 Code Z statement, there is ordinary loss from the entity and Ordinary income listed under 2 businesses as passthrough. How do I report this on my tax return.

PatriciaV · ‎March 18, 2026

Please clarify which type of Schedule K-1 you are entering (there are three) and what version of TurboTax you are using. Have you tried deleting the K-1 and starting over?

AmyC · ‎March 18, 2026

You will only have one w2 entry for the two forms from the same employer. One shows Philly resident while the other shows non-resident for Philly. For the PA state wages, this should only be the...

You will only have one w2 entry for the two forms from the same employer. One shows Philly resident while the other shows non-resident for Philly. For the PA state wages, this should only be the amount while actually working in the state. (Don't worry, the federal part is correct and the IRS and PA already have copies of your form. You need the program to correctly tax the income.) The city will have two entries. One for resident and one for nonresident income.

LaShaunA3 · ‎March 18, 2026

Go to Forms view and check for Form 5695 or Schedule 3. If it’s there, it’s usually being applied correctly. The Residential Energy Credit flows to Form 5695 and then Schedule 3, line 5, which reduce...

Go to Forms view and check for Form 5695 or Schedule 3. If it’s there, it’s usually being applied correctly. The Residential Energy Credit flows to Form 5695 and then Schedule 3, line 5, which reduces your total tax. How do I add or remove Form 5695?

DianeW777 · ‎March 18, 2026

If you made estimated tax payments for your 2025 tax return year, then you can enter your payments using the information below. Where do I enter my estimated tax payments?

scottbfreeman · ‎March 18, 2026

Will an acceptance or denial be returned or does it not result in a response?

MaryK4 · ‎March 18, 2026

You will have to indicate in the Federal Taxes section when you enter the 1099-R information. You will see a screen "Where is your distribution from?" General rule: You must use th...

You will have to indicate in the Federal Taxes section when you enter the 1099-R information. You will see a screen "Where is your distribution from?" General rule: You must use this method if you won't recover your contributions within 36 months from the date you receive your first payment from the plan, or your employer didn't contribute to the plan. Use this method to calculate a percentage of your annual benefits that is not taxable in New Jersey. Once you calculate the nontaxable percentage, it'll be used for all distributions from this plan in the future.

moosic · ‎March 18, 2026

List does not include estimated taxes paid under Deductions and Credits

PatriciaV · ‎March 18, 2026

When entering your K-1, check that it has Box 20 Code Z. You don't need to enter any amount for Code Z. Continue with the interview (this may be several screens later) until you see "We see you...

When entering your K-1, check that it has Box 20 Code Z. You don't need to enter any amount for Code Z. Continue with the interview (this may be several screens later) until you see "We see you have Section 199A information." Check the box that applies (usually the first option - income comes from this partnership). On the next page "We need some information about your 199A income," be sure to check the first box and enter at least one type of income. Check any other boxes that appear on Statement A and enter the related amount. Be sure to complete the entire interview, especially the question "Do you want to provide more info about [partnership] in case it's needed later?" You are not finished until you return to the K-1 summary page.

DianeW777 · ‎March 18, 2026

Yes, you would include in your cost all reinvested dividends that were applied to this account before it was liquidated. The cost basis must be figured out by you. The reporting of this is as noted ...

Yes, you would include in your cost all reinvested dividends that were applied to this account before it was liquidated. The cost basis must be figured out by you. The reporting of this is as noted below. How to Report Cash in Lieu of Fractional Shares The IRS considers cash for a fractional share to be money received as the result of a stock sale. This transaction must be reported on IRS tax form Schedule D Capital Gains and Losses. The date of the sale (when cash was received) and the date of the original stock purchase is needed to complete the tax form. Tax Basis Example: Assume a shareholder has an aggregate $100 basis in 50 shares of ABC stock ($2 per share), and the fair market value of one share of ABC stock is $66.65. Following the ABC Merger, the shareholder should have an aggregate $100 basis in 64.1 shares of ABC stock (50 shares x 1.2820, or $1.56 per share), and should be treated as having sold 0.1 shares of ABC stock with a tax basis of $0.156 ($1.56 x 0.1 shares) for $6.67 ($66.65 per share fair market value x 0.1 fractional shares). Once you have your information you will complete the entry in TurboTax using the following steps. Open (continue) your return if it isn't already open. In TurboTax, search (upper right) > Type 1099B Press enter > Click the Jump to link Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2025? If you see Here's the info we have for these investment sales, select Add More Sales. Answer NO to Did you get a 1099-B or brokerage statement for these sales? or Select Other sales @navens

cririuss_ca · ‎March 18, 2026

ugh - IRS can't even spare this first time "offender" - the penalty assessment is from my underpayment (actually, non-payment) of estimated tax :(( I've paid my withholding in full every year in t...

ugh - IRS can't even spare this first time "offender" - the penalty assessment is from my underpayment (actually, non-payment) of estimated tax :(( I've paid my withholding in full every year in the past (through W2 withholding tax) . So for 2026, I assume I will just divide the total tax owed for 2025 by 4 to make quarterly payments? Can I pay just 90% for each quarter?

philliptkiteley · ‎March 18, 2026

I have a short term rental room in my home Where do I enter home related expenses for it?

RobertB4444 · ‎March 18, 2026

Can you please be more specific - what are you entering here? We don't need to know the exact number but we do need to know the information that you are trying to enter.

Tomrhind5 · ‎March 18, 2026

DianeW777 · ‎March 18, 2026

If you would like to send us a “diagnostic” file that has your “numbers” but not your personal information it would help.  If you would like to do this, here are the instructions: (Don't forget to g...

If you would like to send us a “diagnostic” file that has your “numbers” but not your personal information it would help.  If you would like to do this, here are the instructions: (Don't forget to give us the state) TurboTax Online: Open your return -Go to the menu panel on the left side of your return and select Tax Tools. Then select Tools below Tax Tools. A window will pop up which says Tools Center. On this screen, select Share my file with Agent. You will see a message explaining what the diagnostic copy is.  Click okay through this screen and then you will get a Token number. Reply to this thread with your Token number and your state. This will allow us to open a copy of your return without seeing any personal information. TurboTax Desktop: If you like, you can send a copy of your return that will be scrubbed to eliminate your personal data by using these steps: Click on Online in the top left menu of TurboTax Desktop for Windows Select 'Send Tax File to Agent'* > Follow the prompts to reach the token number. Enter your email used for TurboTax > Enter your code > Send Write down or send an image of your token number and state then place in this issue. We can then review your exact scenario for a solution. Please also tell us any states included in the return. This is necessary for us to view the return. *If using a MAC, go to the menu at the top of the screen, select Help, then, 'Send Tax File to Agent') We will be able to see exactly what you are seeing and we can determine what exactly is going on in your return to provide you with a resolution. @mminderbinder

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