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Thanks. The confusing part is that the SALT deduction is capped to $40k and then it phases out to $10k for AGIs over $500k, while the actual state/property taxes paid are greater than those capped amounts.   There are suggestions to calculate the ratio of Total Investment Income (Section 8, Form 8960) and modified AGI (Section 13) and multiply that with the total (not capped) state, local, property taxes paid (Section 5a, Schedule A). Looks like TurboTax applies that formula.   So the amount is (Section 8/Section 13, Form 8960) * Section 5a (Schedule A).   Is that correct?

Follow these steps to enter Iowa 529 contribution in the state section: Open to your state return continue through until you see Personal Adjustments select yes Locate College Savings Iowa - this is the original name for Isave Enter your contribution amount   Reference: Isave

Can you clarify the situation. If you are in the Online version: Are you unable to log into TurboTax? Have you confirmed your User ID and Password. Are you in your return, and nothing is posted? TurboTax auto-saves your information. Again, you should check your User ID and Password. If all is correct, I suggest you re-enter your information.

@user17711936670 wrote: What about the rest of the numbers on the k-1? Which form gets the other numbers on it?    The properties that were sold - did they used to be rental properties?  If so, enter those amounts/boxes along with Box 2.   Does your Box 1 show zero?  Was there any business activity not connected to the rentals?  If not, there is no need to even think about Box 1 or entering a split/second K-1.  

You cannot change or add anything on the return that you just e-filed, nor can you stop it.  It is too late, just like when you put an envelope in a US mailbox on the corner.  The IRS does not allow you to take it back.   If you left out a W-2, a 1099G, or a dependent, or a 1099 etc…DO NOT change your return while it is “pending.”  The changes will go nowhere.   Now you have to wait until the IRS either rejects or accepts your return.  If your return is rejected, you will be able to go into your account and make the necessary changes to your tax return and re-submit your return.    Sometimes—not always— the IRS corrects your mistakes, while they are processing your return.    If the IRS accepts your return, however, then you have to wait longer until it has been fully processed and you have received your refund.  THEN you can prepare an amended tax return and e-file or mail  it in. You have to be able to work from that return exactly the way it was when it was e-filed originally.  You will need to use a form called a 1040X.     Meanwhile, DO NOT go in and start changing anything on your return in the system, or you will make a mess for yourself.  Sit tight and wait until you see what the IRS does with the return you just e-filed   The Form 1040X is scheduled to be available on February 26.   The date is subject to change, so check on 2-26  to see if it is ready.   Before that, do not change anything at all on your return.   @jdearm

I just did a mock return in TurboTax for Wisconsin and it did allow me to subtract retirement income.   The exclusion is up to $24,000 for all filing statuses, except for Married Filing Jointly, which is $48,000.  To get the deduction:   You or your spouse must be age 67 or older by the end of 2025. You are not allowed to claim any Wisconsin tax credits if you elect to use the retirement income exclusion The deduction phases out for incomes over $75,000 for all filing statuses except Married Filing Jointly, which is $150,000 If you meet the age and the income requirements, a question in the Wisconsin return in TurboTax will appear on a screen "Wisconsin Retirement Income Subtraction (Credit Restricted)" asking if you want to use the Retirement Income Subtraction and forfeit all Wisconsin tax credits.  Answering Yes will allow the Income Subtraction.  If you find that your refund is reduced (or your balance due increases), the next screen will allow change your mind and revert back to claiming credits and not the Retirement Income Subtraction.   There is also a second possible subtraction of $5000 of retirement income if you are 65 or 66 years old at the end of 2025, however, your Federal Adjusted Gross Income needs to be $15,000 for all filing statuses except Married Filing Jointly which has an income limit of $30,000.

Yes, you can deduct your HSA contributions on your PA state return, because of the agreement between Pennsylvania and New Jersey.  You only pay income tax to PA on your wages. So as a Pennsylvania resident working in NJ, you can deduct your HSA contributions from your PA state taxes. However, if your HSA contributions are shown on your W-2, Box 12, code W, they are already deducted from your taxable wages. That means that you can't deduct HSA contributions that are shown on your W-2 because they were already taken out of your paycheck before taxes. In other words, these contributions are already excluded from your income, so claiming them again would count twice. To see any other deductions you could apply, or to get more information about your HSA contributions, refer to the link below:   PA/NJ Reciprocal Income Tax Agreement  

The loss carryovers should always be a figure to confirm each year and if necessary, enter it in your current tax return. An amended return or a change by the IRS could change the number and TurboTax may not have the actual number.    There is an entry for this in your current year tax return which you may have done based on your information. I will place them here for reference. How do I enter my capital loss carryover?

Here's a list of Energy Efficient Home Improvement Credit qualified manufacturers from the IRS.  A valid QMID Code is letter-number-letter-number; maybe the initial '4' should be a letter instead?   @StPaulMN 

The form to request an extension online is not yet available.    That comes out sometime in March.   If you want to mail the form instead of submitting it online you can print one out and mail it in. https://www.irs.gov/pub/irs-pdf/f4868.pdf  

Tendra que decirle a TurboTax que no tuvo seguro medico para que no le pida que ponga la Forma 1095-A en su declaracion. Valla a la seccion de deduciones y creditos, y luego a gasto medicos.  Alli vera la seccion del 1095-A.  Visite la seccion y alli tendra que indicar que no tuvo seguro medico en 2025.  Ya haciendo eso, TurboTax dejara de hacerle preguntas sobre la forma 1095-A.

It may be that you do not qualify. Your loan payments only qualify to the extent they are more than 10% of your adjusted gross income that is more than $10,000. So, if you take your adjusted gross income and subtract $10,000 from it and multiply the result by 10%, only your loan payments greater than that amount would qualify for the credit.

You cannot change or add anything on the return that you just e-filed, nor can you stop it.  It is too late, just like when you put an envelope in a US mailbox on the corner.  The IRS does not allow you to take it back.   If you left out a W-2, a 1099G, or a dependent, or a 1099 etc…DO NOT change your return while it is “pending.”  The changes will go nowhere.   Now you have to wait until the IRS either rejects or accepts your return.  If your return is rejected, you will be able to go into your account and make the necessary changes to your tax return and re-submit your return.    Sometimes—not always— the IRS corrects your mistakes, while they are processing your return.    If the IRS accepts your return, however, then you have to wait longer until it has been fully processed and you have received your refund.  THEN you can prepare an amended tax return and e-file or mail  it in. You have to be able to work from that return exactly the way it was when it was e-filed originally.  You will need to use a form called a 1040X.     Meanwhile, DO NOT go in and start changing anything on your return in the system, or you will make a mess for yourself.  Sit tight and wait until you see what the IRS does with the return you just e-filed   The Form 1040X is scheduled to be available on February 26.   The date is subject to change, so check on 2-26  to see if it is ready.   Before that, do not change anything at all on your return.