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yesterday
BUT DID IT ERASE ALL YOUR INFORMATION AND MAKE YOU START EVERYTHING OVER AGAIN?
yesterday
According to ORS, my case is being processed, but it's been like this for over 15 days and nothing has changed, and I haven't received my Gmail either.
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yesterday
The reason estimate shows $0 when using the 90% of 2026 rule might be that TurboTax needs the 2026 numbers to be able to project the totals. Here are the steps to manually enter the amounts to fix th...
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The reason estimate shows $0 when using the 90% of 2026 rule might be that TurboTax needs the 2026 numbers to be able to project the totals. Here are the steps to manually enter the amounts to fix the $0 calculation:
In Forms Mode, click on Open Form and type "What-if" in the search box. Select the "What-If Worksheet" to open. This Worksheet will show you the side-by-side comparison of your actual 2025 numbers and your 2026 projections. To populate the numbers in Column 2, select the "Copy column 1 to column 2" box at the top left of the Worksheet.
You can also view the "Estimated Tax Payment Options", by clicking Open Form and typing those words into the search box. Ensure you highlight "Estimated Tax Payment Options" when it appears, and not the Vouchers themselves, which will be located just below.
If the 1040-ES projection is causing your estimated vouchers to be too high or too low, don't try to fix the 1040-ES worksheet directly. In Forms Mode, if you see a number in red, that indicates an override. Instead of overriding the Worksheet, use the Step-by-Step method so that TurboTax can calculate the other dependencies correctly.
Go to Other Tax Situations located to the right of the Deductions & Credits tab
Scroll down to Other Tax Forms
Select Form W-4 and Estimated Taxes
Choose Estimates on the Adjust How Much Tax You Pay screen, then Continue
This allows you to manually enter expected amounts for 2026 rather than letting the software "guess" based on 2025
Note: Choose the 110% Rule if you expect to make more money in 2026 and the 90% Rule only if you're certain that your income will be significantly lower in 2026 so that you don't end up owing an underpayment penalty.
yesterday
I have a question with form 1116 for 2025 TT. I got foreign income from Puerto Rico (considered foreign country for tax purposes). I entered the income using a substitute 1099-R by using form 4852. t...
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I have a question with form 1116 for 2025 TT. I got foreign income from Puerto Rico (considered foreign country for tax purposes). I entered the income using a substitute 1099-R by using form 4852. the source of the income is a traditional IRA at local bank in PR (Banco Popular de Puerto Rico). The income is reported in the IRA, 401K pensions section of TT income section. It accepts the income. Problem come when i want to input the taxes paid to PR. I go through the interview believing it will trigger form 1116, but it never does and kicks me out to summary review. In the summary it does not show carryover credits from 2024 it also does not show the taxes paid to PR on 2025 (of course because it does not allow me to enter the). What's happening? last year it allowed me to enter the foreign taxes paid to take the credit and it also produced and included the form 1116. I need to (1) enter the foreign Tax paid in PR (around $5k) on IRA distribution (of around $50k). I also need (2) to get TT to produce form 1116 for 2025. An finally how to get TT to recognize and include 2024 foreign Tax carry (from last year 024). Last year I used TT online. this year I'm using TT desktop on windows. Can you help please?
yesterday
I didn’t put any amounts on dependants for me to claim
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yesterday
where to enter Army retirement?
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yesterday
Using TT Business (Windows), I have a stock sale with both 1099-B 1f and 1g amounts. I entered the stock sale as Summary Entry (Asset Sale Summary Information) because the brokerage 1099-B does not ...
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Using TT Business (Windows), I have a stock sale with both 1099-B 1f and 1g amounts. I entered the stock sale as Summary Entry (Asset Sale Summary Information) because the brokerage 1099-B does not provide data required in Single Entry (date acquired, date sold, sales price, sales expense). Asset Sale Summary Information page only allows one adjustment and one code. How does one enter both 1f and 1g amounts? Thank you very very much for your help!
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yesterday
Electing to report capital gains as investment income can maximize the deductibility of investment interest expenses in the current year. By making the election, you treat qualified capital gains as ...
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Electing to report capital gains as investment income can maximize the deductibility of investment interest expenses in the current year. By making the election, you treat qualified capital gains as ordinary investment income, allowing them to offset investment interest expense. You only need to make this election if you are claiming an investment interest expense deduction (e.g., interest on margin loans) and wish to increase the deduction limit.
You should leave the field blank if you do not make this election.
yesterday
Not true. Those Windows 10 on the free ESU program will get the certificate. And many computers don't have it enabled anyway. https://www.cnet.com/tech/services-and-software/windows-10-users-...
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Not true. Those Windows 10 on the free ESU program will get the certificate. And many computers don't have it enabled anyway. https://www.cnet.com/tech/services-and-software/windows-10-users-free-extended-security-updates/
yesterday
You can efile your 2025 return but will have to mail your 2024 return. For 2024 you have to download the program on your desktop.
yesterday
I have purchased TurboTax for Home and Business. How do I start a tax return for a revocable trust? Doing so is not intuitive.
yesterday
Can you please put a ticket in to have your software people fix the issue of not being able to edit/fix issues with schedule C on the online version of TurboTax 2025? It's ridiculous that we are not...
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Can you please put a ticket in to have your software people fix the issue of not being able to edit/fix issues with schedule C on the online version of TurboTax 2025? It's ridiculous that we are not able to edit or fix these fields (and are thus prevented from filing) without having to delete that section, deleting cookies and restarting that whole section again. This will be the last time I use the online version - it's terrible.... lots of room for improvement. For example, when using help section, the pop up window provides direction on where to go, but you have to close that window (and it's instructions) to be able to follow the directions.
yesterday
It sounds like you have already found the right place to enter the 1099-MISC, in other income. You should answer that it did not involve the intent to earn money, otherwise it seems that this incom...
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It sounds like you have already found the right place to enter the 1099-MISC, in other income. You should answer that it did not involve the intent to earn money, otherwise it seems that this income is business related. Delete the 1099-MISC already entered and any related forms that this populated in the self employment section, if applicable.
Here is how to report the 1099-MISC:
Navigate to Federal > Wages & Income > Other Common Income> Form 1099-MISC> Start or Revisit
Enter the 1099-MISC as printed, Continue
Give a brief description for this 1099-MISC.
Select None of these uncommon situations apply, then continue
Select No, it didn’t involve work that's like your main job and continue
The next screen asks how often you get income from this. Select only the year of this specific 1099-MISC, 2025.
Next, select No, it didn't involve the intent to earn money
You can check this in TurboTax Online by navigating to Tax Tools on the left of your screen, choose Tools, then View Tax Summary. On the left of the screen, select Preview my 1040, then verify the amount is included on Schedule 1, Line 8z "Other Income."
yesterday
Thank you @dmertz once again for your prompt response... Kindly confirm that I am on the right track....I wrote that this is what I am going to do: Do I still need to complete the steps menti...
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Thank you @dmertz once again for your prompt response... Kindly confirm that I am on the right track....I wrote that this is what I am going to do: Do I still need to complete the steps mentioned here? I believe so because this also asks for "Roth IRA Explanation Statement, enter the original amount plus the amount of earnings or loss that were re-characterized" and not just the Contribution amount. How do I re-characterize a Roth IRA contribution as a traditional IRA contribution in TurboTax? So step 8 should be $8000 and Step 9 should be $8698.73, Is that a correct assumption? Which form will this generate in Turbo Tax? Is that 5498 or something else? Then, I'll also complete "Step 1: Enter the Non-Deductible Contribution to a Traditional IRA" from the following: How do I enter a backdoor Roth IRA conversion? I believe this will generate form 8606. For #3, "On the Tell Us How Much You Contributed screen, enter the amount contributed and select Continue.", I am going to enter $8000. And finally, is it ok to file my taxes now itself or should I wait till the Fidelity fund settles in my Traditional IRA?
yesterday
I completed all entries for home office expenses but Turbotax enters zero for depreciation of home, is this a glitch or am I missing something (ly return included this calculation). California (my ho...
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I completed all entries for home office expenses but Turbotax enters zero for depreciation of home, is this a glitch or am I missing something (ly return included this calculation). California (my home state) still allows this deduction.
yesterday
I did not receive a solution for my question even after speaking and chatting with TT experts. I had to clear my tax return from TT and start afresh. I ended up wasting several hours of time spent pr...
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I did not receive a solution for my question even after speaking and chatting with TT experts. I had to clear my tax return from TT and start afresh. I ended up wasting several hours of time spent preparing my tax return to start over. The reputation of TT being the best software no longer rings true to me.
yesterday
Since your Traditional IRA is not income-restricted for contributions, the entire $330 excess belong to your ROTH IRA. The easiest fix is to absorb the excess by applying it to your 2025 contribution...
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Since your Traditional IRA is not income-restricted for contributions, the entire $330 excess belong to your ROTH IRA. The easiest fix is to absorb the excess by applying it to your 2025 contribution, since you still have $1,000 of "room" to contribute.
Although you will still owe a one-time 6% penalty ($19.80) on your 2024 return via Form 5329 because it sat there through the December 31, 2024 deadline, you will not need to withdraw the money. Instead, you can leave it in the ROTH account.
To report this in TurboTax, do the following:
Go to the Deductions & Credits section and find Traditional and Roth IRA Contributions
Enter your 2024 contributions ($3,800 Traditional/$4,200 ROTH)
TurboTax will notify you of the $330 excess
When asked if you withdrew the money, answer "No" to trigger the penalty
For 2025, your total contribution is officially $7,330, which is under your contribution limit.
Go to the Deductions & Credits section and find Traditional and Roth IRA Contributions
When asked, "Did you have any excess ROTH contributions for 2024?", Select Yes
Enter the $330 as the prior year excess and $7,000 as your actual contribution
The excess will then be applied against your remaining $1,000 for 2025
TurboTax will generate Form 5329 showing the $330 was applied to this year's limit. This results in $0 penalty for 2025.
yesterday
If you entered the information for the state tax payment in the File section, , you would have entered the direct debit date for your bank account during the final "File" step, just before transmitti...
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If you entered the information for the state tax payment in the File section, , you would have entered the direct debit date for your bank account during the final "File" step, just before transmitting your return, after selecting to pay taxes owed via bank transfer. The prompt "Date You Want the Amount Withdrawn" allows you to set a specific date; otherwise, it defaults to April 15 (or the April deadline). How to Find/Enter the Date: During Filing: When e-filing, the screen for entering bank information and the withdrawal date appears after you select the return(s) to file and select "Withdraw the money from my bank account". Verifying Scheduled Date (Online): To find the date after you e-filed your return, sign in to myturbotax.intuit.com, select "Tax Home," and click "Add a State" (to open the menu), then go to "Tax Tools" -> "Print Center" to view the state Information Worksheet. Verifying Scheduled Date (Desktop): Look at the State Information Worksheet in Forms Mode, or check the "Filing Instructions" page [Edited 03/28/26| 4:09pm PST] and @daniellezercie : (edited)
yesterday
I have the same question. Say Jon's net L/T capital loss is 10K from stocks he bought after Dec 31, 2011. What portion of it should Jon enter here?