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For the 2025 tax year, TurboTax calculates the maximum SEP IRA Contribution for self-employed individuals as the lesser of 25% of compensation (effectively 20% of net earnings) or $70,000. The program calculates this by taking net business income from Schedule C, subtracting one half of the self-employment tax, and applying the 20%.     You can designate part of the contribution for 2026, but only if the it was made in 2026.  If the entire contribution was made in 2025, you will have to remove the excess prior to filing. 

I had this same issue. After choosing to have TurboTax calculate the portions I presumed it would update the mortgage interest amount on Schedule E. It did not, and led to a protracted effort to find the issue. Next year I think I'll take my tax documents to a local CPA.

In my case, I have made contributions to my traditional IRA that were non-deductible in the past.  Now TurboTax is asking, "Enter the total value of all of your traditional IRA, SEP, and SIMPLE IRA accounts on December 31, 2025".  I have a traditional IRA (which is the account I made non-deductible contributions to in the past), but in early 2023, I rolled over my 401K from my employer over to a Fidelity Rollover IRA.  Should I be providing the combined balances of both the traditional and rollover IRA accounts as of December 31, 2025?

How does your response help with with the fact that turbotax could be wrong and should know how to calculate this? If in deed, under the scenario that someone died, if there is a family total income cap, turbotax should take this into account when determining eligibility. The spouses information is in the return. You've had issues with ON479 for years - not calculating it correctly for other credits. I'm just raising that this could be an error. If i submit as-is, and the credit is not valid, is turbotax going to reimburse me for any interest due to your miscalculation? also for the added frustration of having to deal with a reassessment?  

You shouldn't need to do that.  There is a new way.  Have you downloaded and installed the Desktop program?     To continue in the desktop version see this……. https://ttlc.intuit.com/community/choosing-a-product/help/how-do-i-switch-from-turbotax-online-to-the-turbotax-software/00/26129 In the Desktop program try to OPEN  your return.   Do not click "Start a New Return." Go up to File-Open and click on "Continue From TurboTax Online."    

So if my 2025 tax liability was very low but not quite 0, could I just pay my entire 2025 tax liability in the first quarterly estimated payment for 2026 and then not worry about any more payments for the rest of the year?   And the self employment tax isn't a separate tax I need to pay quarterly is it? Or does my above question cover all potential quarterly taxes?    And can you tell if my income is likely to be around $75,000 this year if I'd be closer to 25% or 30%? Or if not is there a good calculator I can use for that?

Problem remains as of March 30.  TurboTax confirms the credit card information and then displays: "We are unable to process your order at this time. We regret the inconvenience."  I checked with the credit card company and they confirmed there is no problem with my card.  In fact, I've used this card with TurboTax for many years - no problem.  From comments in this forum, it appears as if this problem has been reported for a long time, without any resolution from TurboTax?

You are correct that you cannot file your MFS New York return after filing a federal joint return.  Yes, it is perfectly acceptable to mail your New York return.  You must include a copy of your Federal tax return - the one you actually filed, not the mock return.  Check the New York instructions, but most states only require you to include a copy of Form 1040 (including schedules) and Schedule A.  And yes, you can request direct deposit by filling in the banking information on Form IT-201.  I recommend you send it via certified mail, return receipt requested.

After you enter the W-2, you will be able to exclude the tip income.   If the tips are in box 7, they are automatically removed and you will see a screen to confirm the amount.    On the screen that asks for your industry, you can choose the Beverage and food service option.    And then choose Food server or Food Prep.   Are these the option you see?       How do I enter tips in TurboTax online?          

I had the same frustration and confusion. In my case it turned out to be social security non-taxable portion. The 1040 was showing a lower number than the turbo tax "income summary" with no clear explanation of the difference. By stepping back through the high level overview, I was able to see where the income came from and the SS non taxable in my case explained the difference. Hope that helps if that is your case too.

A resident alien will file an IRS form 1040 tax return.  TurboTax will assist you in filing an IRs form 1040 tax return.   If you qualify as a resident alien for income tax purposes, interest and dividend income is reported as any other interest or dividend income.  In TurboTax Online, follow these steps:   Down the left side of the screen, click on Federal. Down the left side of the screen , click on Wages & Income. Click on the down arrow to the right of Investments and Savings. Click to the right of Interest on 1099-INT or click to the right of Dividends on 1099-DIV. Report Federal income tax withheld as follows:   Down the left side of the screen, click on Deductions & Credits Scroll down to Estimates and Other Taxes Paid.  Click the down arrow to the right. Click Start/Revisit to the right of Income Taxes Paid. Click the down arrow to the right of Other Income Taxes Paid in 2025. Click Start/Revisit to the right of Withholding not already entered on a W-2 or 1099. At the screen Do you have any tax withholding you haven't entered yet, select Yes. A nonresident alien will file an IRS form 1040NR  tax return.  Sprintax may be able to assist you in filing an IRS form 1040NR.   The IRS uses two tests:    the green card test and  the substantial presence test, for assessing your alien status. If you satisfy the requirements of either one, you are considered a resident alien for income tax purposes; otherwise, you are treated as a nonresident alien.   If you are an alien with a green card, meaning the U.S. Citizenship and Immigration Service allows you to reside in the country legally, you are a resident alien.    However, if you do not have a green card and spend at least 31 days in the U.S. during the current tax year and a total of 183 days during the last three tax years (inclusive of the current tax year), you will usually satisfy the physical presence test and are also treated as a resident alien.   You may be an "exempt individual" for purposes of the substantial presence test.   An “exempt individual” for purposes of this test may be:   A teacher or trainee temporarily present in the United States under a “J” or “Q” visa, who substantially complies with the requirements of the visa. A student temporarily present in the United States under an “F,” “J,” “M,” or “Q” visa, who substantially complies with the requirements of the visa. This is a complex portion of tax law.  See also this TurboTax Help.