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yesterday
Both short term and long term gain and loss matches?
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yesterday
My son’s 529 college savings account issued a distribution on 12/31 but the funds did not arrive in our bank account to pay tuition until January 5. For 2025 it now appears that we have “taxable inco...
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My son’s 529 college savings account issued a distribution on 12/31 but the funds did not arrive in our bank account to pay tuition until January 5. For 2025 it now appears that we have “taxable income” from the 529 when the funds are used in 2026 for qualified education expenses. How do we correct this in filing?
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yesterday
If you are filing as Married Filing Separately you are not eligible for the deduction. If you are Single and your AGI is over $175,000 or Married Filing Jointly and your AGI is over $250,000 you are...
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If you are filing as Married Filing Separately you are not eligible for the deduction. If you are Single and your AGI is over $175,000 or Married Filing Jointly and your AGI is over $250,000 you are not eligible for the deduction.
If you are age 65 or older and meet the requirement, the additional deduction is automatically added on your federal tax return.
Standard deductions for 2025
Single - $15.750 add $2,000 if age 65 or older Married Filing Separately - $15,750 add $1,600 if age 65 or older Married Filing Jointly - $31,500 add $1,600 for each spouse age 65 or older Head of Household - $23,625 add $2,000 if age 65 or older
New Bonus Standard Deduction (OBBB): An additional $6,000 deduction for taxpayers 65 and older. This is per eligible individual, meaning a married couple both over 65 could get $12,000. Important: This bonus deduction is temporary, lasting from 2025 through 2028. Income limitations: It phases out for taxpayers with modified adjusted gross income over $75,000 for single filers and $150,000 for joint filers.
The amount is calculated on Schedule 1-A, Part V, with that amount flowing to Form 1040 Line 13b
Look at your Form 1040 -
You can view your Form 1040 plus Schedules 1, 2 and 3 at any time using the online editions. Click on Tax Tools on the left side of the online program screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.
yesterday
How can it be corrected?
yesterday
thanks for your reply! the previous tenant moved out, it took couple months to repair and rent out, that's why the income doubled, but the rental property depression should be same right, but turbota...
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thanks for your reply! the previous tenant moved out, it took couple months to repair and rent out, that's why the income doubled, but the rental property depression should be same right, but turbotax shows this year is much higher, do you know how can I fix it to show the same amount like last year for asset depression? thanks
yesterday
That was me in the other thread. 🙂 I had been searching around for threads detailing similar issues. For the people who visit this post in the future, I begrudgingly reset my entire return to solve ...
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That was me in the other thread. 🙂 I had been searching around for threads detailing similar issues. For the people who visit this post in the future, I begrudgingly reset my entire return to solve the issue. I would try Bill's advice about the HSA reset first. Unfortunately, it didn't work for me when I tried it a few days ago (I might have missed something). My advice: Take your time before entering values you don't thoroughly understand as you might not be able to change them later. Also, avoid entering "placeholder" values for info you do not have on hand. That's the trap I fell into.
yesterday
@Oldblue It should show up in the menu summary amounts as income $$ that you "entered" into the software But ....if you look at your actual form 1040, your line 5b $$ amount should be lower th...
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@Oldblue It should show up in the menu summary amounts as income $$ that you "entered" into the software But ....if you look at your actual form 1040, your line 5b $$ amount should be lower than line 5a, and the "rollover" box (5c) should be checked. IF those same $$ are included on line 5b, then perhaps you indicated it went into a ROTH IRA.....if you did xfer to a ROTH IRA.... then those $$ do become taxable.
yesterday
Impossible de transmettre la déclaration qui inclut un TP-80 à Revenu Québec, et lorsqu'on imprime la déclaration provinciale, ce message d'erreur apparaît, même si on n'a même pas de formulaire TPF-...
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Impossible de transmettre la déclaration qui inclut un TP-80 à Revenu Québec, et lorsqu'on imprime la déclaration provinciale, ce message d'erreur apparaît, même si on n'a même pas de formulaire TPF-1.U : I Le fédéral a été transmis sans problème. Je fais quoi avec pour régler ceci?
yesterday
Can I combine the total winnings from multiple W2G's issued by the same casino on the same date if I do not have taxes withheld? I have over 100 W2G's to enter.
yesterday
So EXACTLY where in Turbotax Home & Business Desktop should I enter my Employer Contribution so that I will receive the tax benefit as provided by the IRS ?
yesterday
1 Cheer
Même problème que vous! Ça fait 2 jours que j'appelle le soutien téléphonique et effectivement, ils ne savent pas comment nous aider. Ils seraient temps qu'ils règlent tous ces problèmes qui sont...
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Même problème que vous! Ça fait 2 jours que j'appelle le soutien téléphonique et effectivement, ils ne savent pas comment nous aider. Ils seraient temps qu'ils règlent tous ces problèmes qui sont majoritairement reliés à Revenu Québec. Pour avoir déjà envoyé une autre déclaration d'un travailleur autonome à Revenu Québec il y a 2 semaines, selon moi, ce problème est très récent. Depuis 2 ans, ce logiciel est très problématique. Je suis d'accord que nous devrions être remboursé par Turbo Impôt. Bon courage à tous.
yesterday
It appears that this is referring to line 6 on the MO-CR. Subtn meaning "subtraction".
The Missouri instructions (at the bottom of the form) say
"Line 6 - Enter the amount of your and your...
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It appears that this is referring to line 6 on the MO-CR. Subtn meaning "subtraction".
The Missouri instructions (at the bottom of the form) say
"Line 6 - Enter the amount of your and your spouse’s Missouri subtraction modifications derived from sources in the other state. This figure cannot exceed the Missouri subtraction modifications reported on your Form MO-A, Line 19. Example: If half of your capital gains and half of your agriculture disaster relief payments for the tax year included on Form MO-A were derived from sources in the other state, you would enter on Form MO-CR, Line 5 half of Form MO-A, Lines 16 and 18."
Is there a question for this in the Missouri interview? Or does this provide enough information for you? That is, can you figure out what number is supposed to be there and plug it in?
yesterday
The Maryland Activity Worksheets and Section 179 Worksheet seem to have adjusted properly, however the Smart Check is still showing the error.
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yesterday
Thank you so much for all the information! One more clarification: if I then report the "split" on the 2026 tax return next year, $1,450 being distribution code 2 and $3,550 being distribution co...
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Thank you so much for all the information! One more clarification: if I then report the "split" on the 2026 tax return next year, $1,450 being distribution code 2 and $3,550 being distribution code 6(?), isn't that technically incorrect given the withdrawal was made before April 15? Also, how do I convince Turbo Tax to add either amount back to taxable income? (given it was put in my HSA pre-tax, I now owe tax on it as regular income) Do I manually add it to the amount from W-2 Box 1?
yesterday
Pourquoi envoyé un message privé? Il semble y avoir plus d'une personne avec ce problème! Je suis aussi dans l'impossibilité de transmettre la partie Québec de ma conjointe. La mienne a bien fonction...
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Pourquoi envoyé un message privé? Il semble y avoir plus d'une personne avec ce problème! Je suis aussi dans l'impossibilité de transmettre la partie Québec de ma conjointe. La mienne a bien fonctionné puis au moment d'envoyer celle de ma conjointe ca dit qu'il y a des erreurs. J'espérais aussi que la mise à jour allait règler le problème mais malheureusement il perciste. J'aimerais aussi connaitre le problème.
yesterday
I don't see where I can select the new $6,000 senior deduction, where can I find this?
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yesterday
Hello, My husband retired from the Gov in 2016 and has employee contributions in Box 9b of his 1099-R. The issue is that since he retired, I’ve not done anything to “recover” that dollar amount ...
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Hello, My husband retired from the Gov in 2016 and has employee contributions in Box 9b of his 1099-R. The issue is that since he retired, I’ve not done anything to “recover” that dollar amount on our taxes because I didn’t know any better! Every year I’ve input all dollar amounts from all boxes on his 1099-R and under "Annuity Information" I've answered Yes to the question, "For the years you received these distributions, was the total amount shown in the form the amount you paid tax on?" It doesn't specify whether they are talking about Box 1 or Box 2a. Total amount taxable Yes - is the box I check Can I check NO and then use the Simplified Method to get moving on this to start recovering some of his contributions? Or have I already been getting recovery of them because I said Yes that I was using Box 2a as his taxable amount? I'm very confused on this. Box 1 minus Box 2a equals the yearly non-taxable portion of his contributions. Divide that by 12 months, and it does come out to his “allowed” monthly non-taxable amount from his OPM booklet. Can I just start recovering his contributions in 2025 without any tax consequences? As long as my mistake in not having the Simplified General Rule worksheet filled out in TT doesn’t negatively affect the IRS and what they should have received from us, we’re ok with not amending the last couple returns (he only gets $12.14/mo that is non-taxable). Thank you for any help you can provide!
yesterday
If I amend my return within 3 years because the 8606 wasn't originally included, does the $50 "8606 fine" apply, OR does the $50 fine apply to 8606s filed after 3 years have passed, OR does the fine ...
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If I amend my return within 3 years because the 8606 wasn't originally included, does the $50 "8606 fine" apply, OR does the $50 fine apply to 8606s filed after 3 years have passed, OR does the fine apply in both scenarios?
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yesterday
It does appear to be a stuck number issue. I was concerned I'd be chasing my tail with this one (and wasting both of our limited time), so just reset the tax return and re-entered everything (it ...
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It does appear to be a stuck number issue. I was concerned I'd be chasing my tail with this one (and wasting both of our limited time), so just reset the tax return and re-entered everything (it didn't take nearly as long since I had recently entered everything). It worked perfectly and now everything lists correctly. The app properly allowed me to enter contributions under my name. I would go through the interview process again to see if the contributions can be edited, but am too afraid to break things again. I really hope TT fixes this in the future as it wasted a lot of our time and I'm not the only one who encountered it. I appreciate all the help, especially on a Friday. I was about to jump ship to another tax service until you chimed in and started providing all of that support.
yesterday
State of VT
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