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yesterday
I opened last year's Turbotax. It opened but not with the tax filing of 2024. That is what I need, so that I can save it to create tt2024. How can I do it?
yesterday
Tank You !
yesterday
I lost the Turbotax tax (2024ttax) file for 2024. I could not find it in my computer. Do you save it in your company filing?
yesterday
I might have figured it out. See form 5695 line 25.
You have to provide a letter code for what type of property you installed that needed a panel upgrade (A for windows and skylights, B ...
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I might have figured it out. See form 5695 line 25.
You have to provide a letter code for what type of property you installed that needed a panel upgrade (A for windows and skylights, B for central A/C, etc.). Then you have to provide the QMID for the enabling property. That's not a new QMID for the panel, it is the QMID for the equipment that required the panel -- that's the "enabling property." So enter the same code you used for the furnace, heat pump, or whatever it was.
yesterday
@PBG2023
I might have figured it out. See form 5695 line 25.
You have to provide a letter code for what type of property you installed that needed a panel upgrade (A for windows and skylight...
See more...
@PBG2023
I might have figured it out. See form 5695 line 25.
You have to provide a letter code for what type of property you installed that needed a panel upgrade (A for windows and skylights, B for central A/C, etc.). Then you have to provide the QMID for the enabling property. That's not a new QMID for the panel, it is the QMID for the equipment that required the panel -- that's the "enabling property."
yesterday
The total wages that you entered as paid by the business can't be less than the co-op wages. They can be equal, but not less.
Maybe you are entering numbers into incorrect boxes? Does the bus...
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The total wages that you entered as paid by the business can't be less than the co-op wages. They can be equal, but not less.
Maybe you are entering numbers into incorrect boxes? Does the business issuing you a K1 pay co-op wages?
yesterday
If you are using the Online version of TurboTax, you can't see this worksheet until you print your return. Then the worksheet will be part of the 1099-R form and worksheet.
If you are using the...
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If you are using the Online version of TurboTax, you can't see this worksheet until you print your return. Then the worksheet will be part of the 1099-R form and worksheet.
If you are using the Desktop version of TurboTax, then go into Forms mode (upper right), and on the left, scroll down until you see this 1099-R. Double click on it to open it, and the worksheet will be part of this form.
yesterday
If you are age 70 1/2 or older and the withdrawal was from an IRA and you checked the IRA/SEP/SIMPLE box and the code in box 7 was a 7, then after completing the entry of the Form 1099-R there will b...
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If you are age 70 1/2 or older and the withdrawal was from an IRA and you checked the IRA/SEP/SIMPLE box and the code in box 7 was a 7, then after completing the entry of the Form 1099-R there will be a series of screens asking various questions. On the screen Do any of these situations apply to you? you need to check the box labeled I transferred all or part of this money directly to charity
yesterday
In the enabling property section for Form 5695, try entering the same QMID code as your other equipment, with a value of $0. If you're using TurboTax Online, clear your Cache and Cookies first.
...
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In the enabling property section for Form 5695, try entering the same QMID code as your other equipment, with a value of $0. If you're using TurboTax Online, clear your Cache and Cookies first.
@terrafogorn
yesterday
If a 'made up' 1099-R with Code J is entered, TurboTax (and the IRS) will treat it as an early distribution. While following the suggested steps makes the amounts on Form 1040 correct and generates t...
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If a 'made up' 1099-R with Code J is entered, TurboTax (and the IRS) will treat it as an early distribution. While following the suggested steps makes the amounts on Form 1040 correct and generates the IRS-required statement, it creates a significant issue: because Code J signifies an early distribution, TurboTax generates Form 5329 with entries on Lines 1 and 2. This is technically incorrect. This is a withdrawal of an excess contribution, not a standard early distribution. Normally, an excess contribution would be reported on Line 23; however, even that would be wrong here. According to the Form 5329 instructions, if all contributions and earnings are withdrawn by the deadline, nothing should be entered on Line 23. Therefore, Form 5329 should not be included in the tax return at all. Only Lines 4a and 4b of Form 1040 should be used to report the withdrawn excess contributions and earnings. Furthermore, if Code J is omitted from the 'made up' 1099-R, the numbers on Form 1040 can be made to be correct, but there is then no way to trigger the internal statement required by the IRS within TurboTax. Such a statement could only be added if the return were mailed rather than e-filed."
yesterday
It's possible the download is corrupt. You could delete it and try the download again. A white circle with a slash on a Mac file indicates a compatibility issue, likely due to an outdated macOS ver...
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It's possible the download is corrupt. You could delete it and try the download again. A white circle with a slash on a Mac file indicates a compatibility issue, likely due to an outdated macOS version or an incompatible chip architecture (e.g., trying to run x64 on ARM). Fix this by updating your macOS, deleting the .dmg file, and downloading the latest version from InstallTurboTax.com.
@Desecheo
yesterday
Dave: Thank you very much!
yesterday
I am trustee for a special needs trust, and have had it prepared by a CPA firm for the past few years. I'm questioning whether or not it should be filed as a Grantor type trust or a Qualified Disabil...
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I am trustee for a special needs trust, and have had it prepared by a CPA firm for the past few years. I'm questioning whether or not it should be filed as a Grantor type trust or a Qualified Disability Trust. It's an irrevocable trust, was funded solely by assets owned by the beneficiary, and was set up as a first party special needs trust. Any thoughts on which type of trust it should be for tax purposes, since could potentially be a substantial difference between the two. I've been looking online and have found conflicting info.
yesterday
My daughter is no longer my dependent but on my 1095a for the full year (under 26 years old) I've done both returns with TurboTax and included the 1095a info on both and appropriately referenced. If ...
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My daughter is no longer my dependent but on my 1095a for the full year (under 26 years old) I've done both returns with TurboTax and included the 1095a info on both and appropriately referenced. If I allocate 100% on my return I pay back the 100% of the premium. If I allocate 100% to her I pay back nothing and because her income is only 28k she gets a huge refund 12K mainly from the return premium credit. Everything I read says I can allocate any way agreed upon including 0/100% as I have done. Would this be correct? Is their a quirk in the legislation that allows this to happen. Seems "wrong".
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yesterday
To be clear, you are saying that I should just enter 0 into the box under the text (your #4)? If so, I guess I didn't interpret any of the previous solutions as doing this, and I was under the impres...
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To be clear, you are saying that I should just enter 0 into the box under the text (your #4)? If so, I guess I didn't interpret any of the previous solutions as doing this, and I was under the impression that the forms themselves shouldn't be altered manually. I thought the goal was to get the software to do that. If that's the solution, you nailed it, and I am so grateful for your time.
yesterday
No, your SEP contributions are not "additional contributions." "Additional contributions" are not permitted to be made to a SEP-IRA. The page that you are asking about is in the Retirement Savin...
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No, your SEP contributions are not "additional contributions." "Additional contributions" are not permitted to be made to a SEP-IRA. The page that you are asking about is in the Retirement Savings Contributions section of TurboTax. Additional contributions are after-tax employee contributions that an employee makes to an employer plan like a 401(k). SEP contributions are neither after-tax nor employee contributions. TurboTax automatically factors into the calculation of this tax credit the amount that you reported as contributions to your SEP plan in the self-employed retirement section.
yesterday
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yesterday
It's part of MacOS, normally gets installed automatically when needed but Turbotax 2025 doesn't trigger it. Your run this from the Terminal application on your Mac: softwareupdate --install-rose...
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It's part of MacOS, normally gets installed automatically when needed but Turbotax 2025 doesn't trigger it. Your run this from the Terminal application on your Mac: softwareupdate --install-rosetta Info: https://support.apple.com/en-us/102527 https://discussions.apple.com/thread/[removed]?sortBy=rank
yesterday
Hello Everyone, I am in the process prepare my 2025 tax return for State of California. I have completed Federal tax return using TurboTax software. Software: TurboTax Premier 2025 ...
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Hello Everyone, I am in the process prepare my 2025 tax return for State of California. I have completed Federal tax return using TurboTax software. Software: TurboTax Premier 2025 desktop edition Filing status: married file jointly. 2024 tax return prepared by accountant. (I only have PDF file) We have two rental properties: one single family house, one townhouse. Both properties located in CA. We reside in Texas. I have following questions: 1. How do I know if I have unallowed section 179 deduction from prior year? One prompt showed as Schedule E section 179 Carryover amount that was not allowed in 2024. Software suggested to check form 3885A ( I don't have this form for 2024). I left the box as blank. my previous posts regarding enter passive loss amount for Federal tax return: My previous post for how to calculate depreciation on assets: Schedule E (2024) has following data line 21 (single family house): $14,356 line 21 (townhouse): -$5,542 line 22 deductible rental estate loss after limitation (single family house): ( $14,356) line 22 deductible rental estate loss after limitation (townhouse): (blank) 2. How do I determine passive loss carryover from prior year? I referenced form 8582 (2024) Part VII Column (c) Unallowed loss section Single family house: $3,505 Townhouse: $24,957 I entered these two amounts on the prompt ask for "Enter passive and At-Risk Loss Carryover" Please review my questions and let me know if my entry for these two interview questions is correct or not. Thanks! section 179 Carryover screen passive loss carryover single family house passive loss carryover townhouse