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yesterday
To qualify for the "Health Insurance Premiums While Unemployed" exception, you must have received unemployment compensation for at least 12 consecutive weeks and taken the distribution in the same ye...
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To qualify for the "Health Insurance Premiums While Unemployed" exception, you must have received unemployment compensation for at least 12 consecutive weeks and taken the distribution in the same year (or the year after) you received that compensation.
Enter your 1099-R:
Open or continue your return.
Under Federal tab, Click on Wages & Income, and then find IRA, 401(k), Pension Plan Withdrawals (1099-R).
Enter the details exactly as they appear on your form (Box 7 will likely show Code 1 - Early distribution, no known exception).
Keep clicking Continue. Do not skip the "uncommon situations" or "extra info" screens.
You will eventually see a screen that says, "Let's see if we can lower your tax penalty" or "Did you use this money to pay for any of these?"
Select the Health Insurance Exception, and Look for the section related to Health Insurance Premiums.
The program will ask if you were unemployed for 12 weeks and received unemployment benefits.
Enter the amount of the distribution used specifically for those premiums (the software will automatically populate Form 5329, Line 2 with Exception Code 07 (the distribution is taxable as income, but you are exempt from the 10% penalty.
The IRS is quite strict about the documentation for this specific waiver (Internal Revenue Code Section $72(t)(2)(D)$):
You must have received unemployment compensation for 12 consecutive weeks.
The distribution must be taken in the year you received the unemployment or the following year.
The penalty waiver only applies to the portion of the distribution that does not exceed the amount you paid for health insurance for yourself, your spouse, and your dependents.
Once you have been back at a new job for 60 days, you can no longer use this exception for premiums paid after that point.
FYI: If you missed these questions in the Wages & Income section: Check the "Deductions & Credits" section... Go to Federal -> Other Tax Situations -> Additional Tax Payments -> Extra Tax on Early Retirement Distributions.
yesterday
It depends on how the insurance policy was set up. Inheritance is generally not tax-free. It also may depend on how the funds were received. Consult with the financial institution that handles the...
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It depends on how the insurance policy was set up. Inheritance is generally not tax-free. It also may depend on how the funds were received. Consult with the financial institution that handles the account to determine how much of the distribution is taxable.
Additionally, if the 1099-R has the "taxable amount not determined" box checked, you may not be subject to pay tax on some, if not all of the distributions.
yesterday
duplicate post
yesterday
It would be quite risky to purchase a license code from a random user even if it was touted as allegedly unused/unregistered/never activated, etc., since that could be a good setup for a scam, or if ...
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It would be quite risky to purchase a license code from a random user even if it was touted as allegedly unused/unregistered/never activated, etc., since that could be a good setup for a scam, or if sent in a file, could include possible malware. That other person could likely be violating their license agreement as well. Also, if you buy a new license from a seller online, be sure it is from TurboTax or an authorized retailer of TurboTax products. There are a number of scam sites selling what could, in many cases, turn out to be invalid or used license numbers. FAQ: Where can I purchase authentic TurboTax software? https://ttlc.intuit.com/turbotax-support/en-us/help-article/intuit-product-orders/obtain-authentic-turbotax-programs/L1yYfitCw_US_en_US
yesterday
@lrllllll , here is a doc. from the IRS --- fellowship amount taxability is dependent on usage -- see this --->
Topic no. 421, Scholarships, fellowship grants, and other grants | Internal Revenue S...
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@lrllllll , here is a doc. from the IRS --- fellowship amount taxability is dependent on usage -- see this --->
Topic no. 421, Scholarships, fellowship grants, and other grants | Internal Revenue Service
Is there more I can do for you ?
yesterday
This doesn't resolve the issue. The "enrollmentstatus" error doesn't show up on the form with a red colored box like "Has your student been convicted of a felony." It's impossible to determine what i...
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This doesn't resolve the issue. The "enrollmentstatus" error doesn't show up on the form with a red colored box like "Has your student been convicted of a felony." It's impossible to determine what information is missing. It says the form is "Not Done" but none of the boxes are red colored
yesterday
I have input all information for the federal form and saved it... A few weeks later, I went to retrieve it to finalize and cannot find the file.... please help
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yesterday
Where is the "continue" button when accessing prior year return?
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yesterday
TurboTax will automatically fill out Form 8962 once you enter your Form 1095-A. Refer to the TurboTax article Where do I enter my 1095-A? for navigation instructions.
For more information, refe...
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TurboTax will automatically fill out Form 8962 once you enter your Form 1095-A. Refer to the TurboTax article Where do I enter my 1095-A? for navigation instructions.
For more information, refer to the TurboTax articles: What is the Premium Tax Credit? and When should I include Form 8962 with my tax return?
yesterday
Federal and state refunds come from completely separate entities, There is no rule as to which one will come first or how much time there will be between their arrivals. Some states process returns...
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Federal and state refunds come from completely separate entities, There is no rule as to which one will come first or how much time there will be between their arrivals. Some states process returns quickly and some are very slow.
STATE RETURN
Make sure your state return was accepted: https://turbotax.intuit.com/tax-tools/efile-status-lookup/
To track your state refund:
ttps://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_US_en_US?uid=lt447ebr
https://ttlc.intuit.com/turbotax-support/en-us/help-article/state-taxes/contact-state-department-revenue/L9qVToi02_US_en_US?uid=m6e06um0
yesterday
How you fix error in turbo tax rmd required amount?
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yesterday
I got a penalty fine for not making quarterly estimate tax payment for tax year 2025 and decide not to make the same mistake in 2026. The following link shows how TurboTax computes the estimat...
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I got a penalty fine for not making quarterly estimate tax payment for tax year 2025 and decide not to make the same mistake in 2026. The following link shows how TurboTax computes the estimate tax per quarter: https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-payments/turbotax-calculate-estimated-tax-payments/L1t8Q2cQl_US_en_US So which line(s) do I use from the 1040 tax form do I use to get estimated tax fr 2026? Is it line 24 (total tax) , or is it line 24 minus line 33 (total credits) from the 1040 form?
yesterday
Contact support to see if the expert you want is available this year. The "Live" experts are seasonal employees who may or may not be working with TT this year.
To call TurboTax customer support
...
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Contact support to see if the expert you want is available this year. The "Live" experts are seasonal employees who may or may not be working with TT this year.
To call TurboTax customer support
https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/contact-turbotax/L2y9ZKpQB_US_en_US?uid=m5s9l2vh
yesterday
How do I know the tax return amendment was successfully done on TurboTax online?
yesterday
TurboTax charged me over 9% of my refund—and they still call it “free”? Even 5% would be pushing it, but 9% feels like they’re straight-up robbing literal preschool teachers who work hard for every p...
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TurboTax charged me over 9% of my refund—and they still call it “free”? Even 5% would be pushing it, but 9% feels like they’re straight-up robbing literal preschool teachers who work hard for every penny. Last year it was 6%… And the “free” marketing is wild. Less than half of people even qualify, so why put the word free anywhere? Commercials that say free anywhere along with, only 37% got the free version, are just confusing. Who does that? Either make it free—make fees very clear this ain’t a free tax service at all. Keep them reasonable! It shouldn’t be more than 5% of what someone gets back, and even that still feels like a ton of free money from people to me, which is sad y’all… i have one w2 that’s it, and they made me fork over hundreds of it. I wonder if any one else had the same increase?
yesterday
This is the user forum. We have no access to anyone's tax returns or information. Are you using online "Live"? You need to contact your expert.
https://ttlc.intuit.com/turbotax-support/en-...
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This is the user forum. We have no access to anyone's tax returns or information. Are you using online "Live"? You need to contact your expert.
https://ttlc.intuit.com/turbotax-support/en-us/help-article/product-setup/connect-tax-expert-turbotax-live/L73wOZD5D_US_en_US?uid=m8zw1pbb
yesterday
Where is Capital loss carry forward entered actual Form D online?
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