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yesterday
I'm on the personal income page. It has the 2024 column and the 2025 column. When I follow the update button to get the 2025 data, the column does not update. What's going on? How to fix this?
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yesterday
Not needed?
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yesterday
Got 1099-MISC from my previous employer for California Proactive Pay - the amount is in Box. 3. W2 says this is non taxable comp. (I think this is pay for each day between last work day and final pa...
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Got 1099-MISC from my previous employer for California Proactive Pay - the amount is in Box. 3. W2 says this is non taxable comp. (I think this is pay for each day between last work day and final pay day at pre-resignation rate) While answering in TT: Did the CA state Proactive Pay involve work that's like .... main job? —> I Entered “No” Did the California Proactive Pay involve an intent to earn money? —> I Entered “No” Can somebody confirm if these answers are correct?
yesterday
We don't know exactly what you did, but it seems like you used a different account than the one you used for 2024.
yesterday
you are correct. You are not eligible to contribute any amount to an HSA due to being covered all year by the non-HDHP
in TurboTax go back to the HSA section and indicate none for the type of cover...
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you are correct. You are not eligible to contribute any amount to an HSA due to being covered all year by the non-HDHP
in TurboTax go back to the HSA section and indicate none for the type of coverage for each month. Also, do not enter any info for 2024. Answer yes to the question of withdrawing the excess by 4/15/2026. To actually withdraw the excess, contact the sponsor for the exact procedure to follow to withdraw an excess contribution so a correctly coded 1099-SA will be issued early in 2027. You do not have to wait for it to file for 2025.
yesterday
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yesterday
No. The IRS may catch the error if you included the dependent who qualifies you for HOH. Otherwise, you have to wait until your return is fully processed and then amend. Always review the actual form...
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No. The IRS may catch the error if you included the dependent who qualifies you for HOH. Otherwise, you have to wait until your return is fully processed and then amend. Always review the actual forms and schedules before filing because, in some cases, errors may cost you penalties and interest.
yesterday
if you imported the W-2 try deleting everything in boxes 15-20. Otherwise, you'll need to remove the import and enter it manually.
yesterday
> We just find it odd that this version of TT is not saving as the prior year downloads. I'm not so sure it is just the 2025 version that has this problem. I now see the same issue with the 2024 ...
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> We just find it odd that this version of TT is not saving as the prior year downloads. I'm not so sure it is just the 2025 version that has this problem. I now see the same issue with the 2024 version, even though I have password protected PDF returns for 2024 that I know TT created directly last year. The breakage could be due to 2024 TT upgrades, or maybe it is due to a macOS upgrade I've done over the past year. I'm on Sequoia 15.7.4 now. Last year at this time I was on Sonoma 14.7.4.
yesterday
You need a higher version of online - probably premium. TurboTax does not have a facility to import a PDF of Form 8283.
If it's a publicly traded stock (PTS), no appraisal is required. If it's not...
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You need a higher version of online - probably premium. TurboTax does not have a facility to import a PDF of Form 8283.
If it's a publicly traded stock (PTS), no appraisal is required. If it's not a PTS, the 8283 including the signed appraisal can be filed through the mail using Form 8453.
yesterday
The question is confusing b/c it asks if you paid tax on the "total" amount. If you pay taxes on the "taxable" amount, isn't the answer to the question = "yes"? (But of course the "gross" amt is highe...
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The question is confusing b/c it asks if you paid tax on the "total" amount. If you pay taxes on the "taxable" amount, isn't the answer to the question = "yes"? (But of course the "gross" amt is higher.) Why is this question being asked?
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yesterday
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yesterday
what does itemized deduction in 2025 mean? Is it the sum of property tax of main residence and income tax for 2025?
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yesterday
International student Tax Return 1099 Intern
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yesterday
too late. the sale had to occur in 2025.
yesterday
it's not part of the standard deduction. It's a special deduction computed on Schedule 1-A and reflected on line 13b of your 1040.
yesterday
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yesterday
you only look at sales at a loss in your taxable accounts. Then, if you bought substantially identical securities in either your taxable accounts or IRAs, within a period beginning 30 days before the...
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you only look at sales at a loss in your taxable accounts. Then, if you bought substantially identical securities in either your taxable accounts or IRAs, within a period beginning 30 days before the date of such sale or disposition and ending 30 days after such date (referred to in this section as the 61-day period) you have a wash sale. This would include entering into a contract or option to acquire the substantially identical security.
you can have wash sales even if the sale is a short sale.
note: if the wash sale is caused by a transaction in a tax-exempt account, there is no adjustment to basis so in fact the loss is permanently non-deductible.
see the regs.
https://www.law.cornell.edu/cfr/text/26/1.1091-1
there may also be a question of whether an option on a stock is substantially identical to another option on the same stock if the strike price or expiration date differs.