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How would he manually fill out the form - How would he know how much of the credit to pay back i any on a manual form? His income from interest and dividends was about $1000.00 I think.   It would ... See more...
How would he manually fill out the form - How would he know how much of the credit to pay back i any on a manual form? His income from interest and dividends was about $1000.00 I think.   It would be better if he claimed it. Does not seem right that we would have to cover the whole credit when his summer job fell through...
I thought paying for something in BTC would be fun... Worst mistake of this tax year so far...   I purchased 0.00018 BTC for $17 and immediately sent 0.00015 BTC (FMV $14.09, cost basis $14.21).  ... See more...
I thought paying for something in BTC would be fun... Worst mistake of this tax year so far...   I purchased 0.00018 BTC for $17 and immediately sent 0.00015 BTC (FMV $14.09, cost basis $14.21).   When entered to TT Desktop Deluxe for Win11, it cuts the number to 0.0001, then converts it to 1.0E-4 and displays as "BTC (1.0E-04). However, when trying to edit, it converts it back to 1.04 BTC ($96737.91).   1. How to be sure IRS doesn't charge me for $97k short term gains 2. Are IRS auditors well aware of scientific notation?   But seriously, can someone at TT fix this?
What is the status of getting this issue fixed? April 15 is not far away. I itemized my Federal return. My income is under the MD phase out amount. My Federal Itemized Deduction - State & Local Incom... See more...
What is the status of getting this issue fixed? April 15 is not far away. I itemized my Federal return. My income is under the MD phase out amount. My Federal Itemized Deduction - State & Local Income Taxes is much bigger than the MD Standard Deduction.
I have $60k of worthless stock from a small business investment I am writing off.  I enter it Federal Return and it treates it properly, taking it against ordinary income.  In my state CA taxes, thi... See more...
I have $60k of worthless stock from a small business investment I am writing off.  I enter it Federal Return and it treates it properly, taking it against ordinary income.  In my state CA taxes, this $60k is adjusted out completely, presumably because CA treates this loss differently, but it doesn't appear anywhere else in my taxes.  CA does allow me to write off worthless stock, but the program doesn't move it anywhere, it just eliminates it.    It does this whether I select sec. 1242 loss or 1244, though it does change how things are calculated based on the $50k cap for adjustment to ordinary income with 1244 stock 
That box doesn't show up in the same screen in the amend return process (or any of the screens, there's no way to get that box checked), and the 1040 that's outputted doesn't have the box checked.
I purchased a primary residence in 2013 for $400,000. I lived in it for four years, began renting it out in 2017, and moved back in during 2022. In 2025, I sold the house for $840,000. How can I sel... See more...
I purchased a primary residence in 2013 for $400,000. I lived in it for four years, began renting it out in 2017, and moved back in during 2022. In 2025, I sold the house for $840,000. How can I select Yes or No in "Primary use of home" in TurbuTax 2025?        
Question, is prediction markets not already included in the 1099-consolidated tax form from Robinhood? I got a annual contract statement but its a .csv document. How did you input that to 1256?
So when I made the payment, it gives me the option to print out a physical copy of the tax file? And how do I mail it?
Thanks to everyone posting this same issue on this forum. I'm an experienced/educated tax preparer and I'm having the exact same issue.   Turbotax, please fix your software glitch immediately. Ther... See more...
Thanks to everyone posting this same issue on this forum. I'm an experienced/educated tax preparer and I'm having the exact same issue.   Turbotax, please fix your software glitch immediately. There are likely many users over the past year or more who unknowingly submitted incomplete/incorrect tax returns. That could have financial consequences if they tried to pursue restitution/remediation.   I look forward to learning the remedial action so I can complete my return.   Thanks.
A little more info for you.    The net effective rate is 14.1%.   And even though the IRS instructions for Schedule SE say…..”You must pay SE tax if you had net earnings of $400 or more” the tax doe... See more...
A little more info for you.    The net effective rate is 14.1%.   And even though the IRS instructions for Schedule SE say…..”You must pay SE tax if you had net earnings of $400 or more” the tax doesn’t start until $433 Net Profit. https://www.irs.gov/pub/irs-pdf/i1040sse.pdf   And the SE tax includes what you already paid in from your W2s box 4 so your schedule SE tax will only be the difference up to the max amount of $10,918.20 for social security.
Also, ReneV4 (an employee tax expert) posted responses earlier today to some similar inquiries in the Retirement section, about Required Minimum Distributions, with basically the same approach as Dav... See more...
Also, ReneV4 (an employee tax expert) posted responses earlier today to some similar inquiries in the Retirement section, about Required Minimum Distributions, with basically the same approach as DaveF1006, but maybe clearer step-by-step guidance.
 AMT adjustments to income involve adding back specific tax-favorable deductions or income deferrals from regular taxable income to compute Alternative Minimum Taxable Income (AMTI). Key adjustments ... See more...
 AMT adjustments to income involve adding back specific tax-favorable deductions or income deferrals from regular taxable income to compute Alternative Minimum Taxable Income (AMTI). Key adjustments include adding back state/local taxes (SALT), the standard deduction, incentive stock option (ISO) exercise profits, and accelerated depreciation, Private Activity Bond Interest, NOL deductions, Passive Activity Losses.  Look over FORM 6251. If you take the Standard Deduction: Form 6251 starts with your adjusted gross income (AGI) and does not add back itemized deductions, as you didn't take them. If you Itemize: Your taxable income from Form 1040 is used, but specific deductions on Schedule A are reversed. If your itemized deductions are high, they "increase" your regular taxable income, but they are added back on Form 6251, which can trigger an AMT liability.   So as the STD Deduction gets added back to compute AMTI.  Using Itemized Deductions may create a lower tax liability, less gets added back to compute AMTI than when taking the standard deductions.  If you remove the AMTI adjustments from the itemized deductions though your AGI is higher and tax rate maybe higher.  It is just a math game.  You are not required to enter all the deductions  and can claim a lower amount but, make sure your return is completed before assuming the TT tax liability is correct that is shown (switch between screens as it often recomputes when deciding what works best.   So make sure to go back through the interview and answer you want to itemize and on the Info wks it should also indicate you want to itemize.  The Form 6250 should then NOT add the standard deduction back.  If it still does, have you fully updated your TT software?  (Many VPN's and virus checkers do not allow updates through so it can erroneously say up to date when it is not, make sure to allow TT through or temporarily turn them off to do updates).   You also maybe subject to Net Investment Income Tax Form 8960 that flows to 1040 Line 23. That is 3.8% on any income over a certain threshold. In general, net investment income for purpose of this tax, includes, but isn't limited to: interest, dividends, certain annuities, royalties, and rents (unless derived in a trade or business in which the NIIT doesn't apply),income derived in a trade or business which is a passive activity or trading in financial instruments or commodities, net gains from the disposition of property such as stocks, bonds, mutual funds, and real estate (to the extent taken into account in computing taxable income), other than property held in a trade or business to which NIIT doesn't apply, and generally net gains from the sale of an active partnership or S corporation ownership interests. @user17741347624
I’m finished inputting my tax info and am ready to file and pay but I have no way to remove the “bundle” upgrade even prior to paying
Hello,    I received a 1098 form from my coop.  I'm not sure what to answer in Turbo Tax.  I pay my maintenance and am otherwise not responsible for the the loan.   How should I go about answerin... See more...
Hello,    I received a 1098 form from my coop.  I'm not sure what to answer in Turbo Tax.  I pay my maintenance and am otherwise not responsible for the the loan.   How should I go about answering this questions?     1. Do any uncommon situations apply? Someone co-owns this loan, and I only pay a portion of it. The seller is financing this loan and I didn't receive a 1098. None of these apply.   2. What kind of property is this loan for? Primary home This is where you live most of the time—can be a house, condo, mobile home, or other property types. Second home This is usually a vacation home. It can be rented out part-time as long as you live there for a certain amount of time each year. Other This includes rentals you don’t live in and business properties.   3. Did you pay points in 2022 when you took out the loan? I paid points when I refinanced, purchased a second home, or opened a home equity loan in 2022. I have already deducted all the points I paid in 2022, or I didn't pay any points.   4. Is this 1098 the most recent for your loan?  If you only have one 1098, select Yes. When you refinance or your lender sells your loan, you’ll get 1098s for the original and the new loan. When this happens, we need to know which is the most recent. Yes No   5. Let’s get some details about this loan This helps us know how much interest you can deduct this year. Learn more This loan is a home equity line of credit (HELOC). This loan is a refinance of a previous loan. This loan is neither of these.
Self-employment tax does not apply to any of the income amounts on Form 1040. It applies to your net self-employment income. In most cases net self-employment income is the net profit on Schedule C l... See more...
Self-employment tax does not apply to any of the income amounts on Form 1040. It applies to your net self-employment income. In most cases net self-employment income is the net profit on Schedule C line 31, which also appears on Schedule 1 line 3. If your net self-employment income is $432 or less (not $400) there will be no self-employment tax. Otherwise the self-employment tax is calculated on Schedule SE. The calculation can get rather complicated. You might have to pay self-employment tax even if your taxable income is so low that you do not have to pay any income tax.  
You will pay Self Employment tax (Scheduled SE) on a Net Profit of $400 or more on Schedule C in addition to regular income tax on it.   You pay 15.3% SE tax on 92.35% of your Net Profit (If it is gr... See more...
You will pay Self Employment tax (Scheduled SE) on a Net Profit of $400 or more on Schedule C in addition to regular income tax on it.   You pay 15.3% SE tax on 92.35% of your Net Profit (If it is greater than $400).  The 15.3% self employed SE Tax is to pay both the employer part and employee part of Social Security and Medicare.  So you get social security credit for it when you retire.     You are paying 15.3% for…… SS for employer 6.2% SS for employee 6.2% Medicare for employer 1.45% Medicare for employee 1.45%
Hi @TurboTaxStdUser,    I just had the same issue that you did. After looking online for a long time and then eventually reading the fine print instructions on Schedule 15 in Forms view, I realized... See more...
Hi @TurboTaxStdUser,    I just had the same issue that you did. After looking online for a long time and then eventually reading the fine print instructions on Schedule 15 in Forms view, I realized that the entirety of Step 1 should be blank if the FHSA account was opened in 2024 (like mine was). I had the year 2024 input, since that is the year I opened the account. However, since I didn't open anything in 2025, this should be entirely blank. After removing the year, my NETFILE error went away!!    Hope this helps!!      
I think they clamped down on that and it no longer works.   It has always been you could only efile 5 from 1 email or account.  That’s actually an IRS limit.  But some people were able to bypass that... See more...
I think they clamped down on that and it no longer works.   It has always been you could only efile 5 from 1 email or account.  That’s actually an IRS limit.  But some people were able to bypass that requirement but no longer.  Maybe if you install another license on another computer using a different email address.   
Hello,   My company has listed a Lived in and Worked in for NYC Res Local Wages (code 3301).  This causes two separate Box 19 values to be listed on the W2 (page 2 of the W2)   Page 1 of the W2 d... See more...
Hello,   My company has listed a Lived in and Worked in for NYC Res Local Wages (code 3301).  This causes two separate Box 19 values to be listed on the W2 (page 2 of the W2)   Page 1 of the W2 does list the total local income tax in box 19,18 is blank, box 20 lists the word total      This is causing a tax filing error since there are two NYC res values.  Is it correct to add both box 18 and 19 values  and list their totals under NYC res?     Thank you