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Hello,   My son was a student at University of Michigan most of last year. He turned 24 so is no longer a dependent.   TurboTax is telling me he can take the Homestead Property Tax Credit associated with the apartment he rented in Ann Arbor. Is this true? I'm pretty sure he wasn't eligible so long as I was claiming him as a dependent, It seems like it's rather large, too -- almost a thousand dollars.

I was promised that I will get refund by April4th and it is has been a while and I dont get any updates from Turbo Tax. it was promised when I paid for the service that I will get refund 4 days earlier than the IRS refund date

Trying to clean up my IRA basis before filing 2025 taxes. I think I messed up my 2024 Form 8606. 2023 Contribution (nondeductible): $6,500 Conversion (1099-R): $6,500 End of year Trad IRA balance (5498): ~$4.12 2024 Starting basis: ~$4 Contribution (nondeductible): $7,000 Conversion (1099-R): $7,000 End of year Trad IRA balance (5498): ~$5.31 What I now realize I only converted the contribution each year Small leftover (~$4 → ~$5) stayed in the Traditional IRA and carried forward The problem My already-filed 2024 Form 8606 shows: Line 13 (non-taxable conversion): $7,004 Line 14 (remaining basis): $7,004 That doesn’t match reality: 1099-R shows only $7,000 converted There was still ~$5 left in the Trad IRA at year end My understanding (sanity check) Correct 2024 should probably be: Line 13 (non-taxable conversion): $7,000 Line 14 (remaining basis): ~$4–5 Questions I should amend my 2024 8606 form, right? Any impact on this when filing 2025?   https://imgur.com/a/6NQMzQA -- Posted my 8606, 1099R and 5498 for both the years.

  I have an 18 year old high school (17 in 2025) student and a 20 year old college student. They both go to school full time. Why isn't the box checked when I do my final review of my federal return? I'm worried this will trigger an audit or when the information is transferred next year I will have problems.  thanks    

    matto1 Level 3     question about 1099Q and 1098T Help, I am a bit confused.   Both of my children are age 24 or older, so they are no longer dependents. They both attended college or post-graduate last year. The institutions issued 1098T forms to each of them. I took distributions from their 529 plans to help cover expenses, but (and this might have been a mistake), I took the distributions, so the 1099Q forms were issued in my TIN.    For my younger son, I took a 15k distribution, which is almost exactly the amount of the education tuition expenses for last year ($15,020). But for the life of me I can't figure out how to offset the distribution with the expense. I had my son apparently linked as a dependent, and once I de-linked that, TurboTax determined that most of the earnings on the distribution are taxable (excepting about 2.5k that was used to pay off a student loan). I didn't have this issue with my other son.   What should I do? by default I will delete the 1099Q altogether.

I am using TurboTax Home and Business on the MAC. I have used TurboTax in prior years and brought over my information from 2024. My taxes are showing an error  of "Carryover Worksheet, line 24, the total Section 179 carryover does not match the sum of the Section 179 carryovers shown on each activity. What does this mean? This isn't something I touched.   TurboTax shows an entry in line 24 for 2024. When I look at my Carryover Worksheet for 2024 it shows blank in line 24 and a 0 for 2023.  What is this and how do I fix this? Should this just be zero? Is this a TurboTax bug?