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You should be able to enter your Schedule C for your self-employment income and expenses in TurboTax Premium.   Follow the steps below to enter your income:   Open TurboTax Select Wages & I... See more...
You should be able to enter your Schedule C for your self-employment income and expenses in TurboTax Premium.   Follow the steps below to enter your income:   Open TurboTax Select Wages & Income Select Business Income and Expenses (Schedule C) TurboTax will guide you through interview screens to help you enter your income and expenses.   For additional information, review the TurboTax help articles:  What self-employed expenses can I deduct?  and How do I report income from self-employment?   You will ‌also be subject to self-employment taxes. Self-employment taxes and deductions are calculated on Schedule SE.    For additional information, please see the TurboTax article Self-Employed Federal Income Taxes.  
You have to update that information back in the federal return.  Return to your federal return to the personal information section.  When you are entering the personal information it will ask if the ... See more...
You have to update that information back in the federal return.  Return to your federal return to the personal information section.  When you are entering the personal information it will ask if the person for whom the return is being filed is deceased.  If you answer yes to that question then the system will ask for information about the personal representative.  What you enter there should be carried to the necessary federal and state forms.
Hello, On page 2 of Form 172 instruction for NOL, there is a 80% limitation as showing below.  How do we apply NOL carry forward from 2024 to 2025? Please advise. Thank you! ...Only NOLs arisi... See more...
Hello, On page 2 of Form 172 instruction for NOL, there is a 80% limitation as showing below.  How do we apply NOL carry forward from 2024 to 2025? Please advise. Thank you! ...Only NOLs arising after 2017 and carried forward to a year after 2020 are subject to the 80%-of-taxable-income limit. The total amount of any NOL deduction for 2021 or thereafter that is attributable to NOLs from tax years after 2017 can’t exceed 80% of taxable income without regard to the NOL deduction or sections 199A or 250. 3tax168
pension and annuity distribution adjustment description- taxable amount c then choose either subtraction or addition THANK YOU
1. When you enter the 1099-R and answer all those questions, the answers - like a qualified pension, should flow to the state. You may have had a stuck bit of data that didn't move. 2. When you clo... See more...
1. When you enter the 1099-R and answer all those questions, the answers - like a qualified pension, should flow to the state. You may have had a stuck bit of data that didn't move. 2. When you close and reopen your return, stuck data will often reset and move as it should. 3. Don't file the amended return until the original is completely processed - including any refund. 4. You can e-file the amended form.
yes, my rental income came as negative once I added depreciation(and that's why I filed my tax return without foreign tax credit form 1116 since it makes no sense to get credit and report negative in... See more...
yes, my rental income came as negative once I added depreciation(and that's why I filed my tax return without foreign tax credit form 1116 since it makes no sense to get credit and report negative income) but note that prior to adding depreciation, my income was positive and still form 1116 wouldn't properly appear in my final return, that's why I believe it's a bug on turbotax side
How do I download TurboTax that has been paid for:  37534  2026-02-27  17:35:45  My wife bought the  program and I don't have her passwords.  please help.
Are you under 59 1/2? Being younger than that would trigger a 10% early distribution penalty. But if you are older than 59 1/2, then there would be no penalty, hence no need for the question.   S... See more...
Are you under 59 1/2? Being younger than that would trigger a 10% early distribution penalty. But if you are older than 59 1/2, then there would be no penalty, hence no need for the question.   Second, can you confirm that the distribution was from an IRA and not some sort of retirement plan like a 401(k)?
The problem with your 1099-R is the code in box 7.  Code J indicates that the withdrawal is an early withdrawal that is subject to penalties.  The basis is still not taxable so you should be entering... See more...
The problem with your 1099-R is the code in box 7.  Code J indicates that the withdrawal is an early withdrawal that is subject to penalties.  The basis is still not taxable so you should be entering zero in box 2 because even though the broker has refused to calculate the amount that is taxable you have so enter zero there for them.   That will make the 14,000 not taxable but there will still be a penalty for an early withdrawal assessed for taking the money out early.  If you believe that you should not be assessed that penalty then you need to contact the institution that manages your account and request a corrected 1099-R that does not show an early withdrawal.   @user17752874295 
While working through the interview in the TurboTax Premier Desktop version to determine my estimated quarterly tax payments for 2026 prior to filing my TY2025 return, I needed to refer back to the p... See more...
While working through the interview in the TurboTax Premier Desktop version to determine my estimated quarterly tax payments for 2026 prior to filing my TY2025 return, I needed to refer back to the pending return for figures to determine the estimated 2026 values by viewing several of the completed forms within TurboTax. (Of course, if working on this task *after* my return is filed, I merely need to open the saved PDF of my return, park it next to the worksheet window, and scroll through as needed, but I normally take care of estimated taxes before filing my current return.) After obtaining the value needed for each specific item being queried, I closed the form being viewed to return to the interview. I had to repeat this action at least a half-dozen times for the various data items I needed to enter. Each time I did this, TurboTax took me to the initial screen of the estimating process, and it was necessary to pass through every screen I had already completed to get back to where I left off. While none of the previously entered data was disturbed, it still seemed rather pointless to have to step through every previous screen for all the categories of income or deductions to come back to the current point of data entry.    Instead, I recommend for future TurboTax editions one of these two suggestions for improvement: 1) After closing the form being viewed, take the user back to the screen being viewed when the View Form command was evoked, or perhaps better, 2) For the estimated tax screen being viewed, display any data for the current year already entered for the same item for which the estimated data is being requested, even if the value is "$0", similar to how the two-year comparison screens are handled; for example, "Enter 2026 estimated total Qualified Dividends: $_________. From your 2025 return, this amount is $10,125"
I moved from NC to MN. My state wages are accurate for MN as a portion of the year, but my company listed my state wages for NC as the full amount of my wages from the year and should only be a fract... See more...
I moved from NC to MN. My state wages are accurate for MN as a portion of the year, but my company listed my state wages for NC as the full amount of my wages from the year and should only be a fraction, which should result in a tax refund from NC.