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NicolleR1

If your refund came in lower than you expected, usually means the IRS either corrected something wrong on your return, or applied some of it to cover an existing debt. A letter explaining the a...

If your refund came in lower than you expected, usually means the IRS either corrected something wrong on your return, or applied some of it to cover an existing debt. A letter explaining the adjustment should arrive in the mail within a few weeks. To see more information, refer to the link below: Why is my refund lower than the amount shown in TurboTax?

selene

There's no other details to share.

BillM223

The health insurance deduction for the self-employed has not been on Schedule C for many years. To quote HealthInsurance.org, Congress implemented a 25% deduction for self-employed health insura...

The health insurance deduction for the self-employed has not been on Schedule C for many years. To quote HealthInsurance.org, Congress implemented a 25% deduction for self-employed health insurance premiums in 1987 and made it permanent in 1994. The self-employed received even better news in 2003 when premiums became 100% deductible. There is nothing stopping you from manually entering health insurance premiums on your Schedule C, but that isn't where it belongs. The issue is that the deductible part of the self-employment tax, contributions to SEP, SIMPLE and qualified plans, and the self-employed health insurance deduction all interact with each other, so you'll want to properly label these amounts, lest you get a letter from the IRS.

baldietax

the 110% applies to prior year tax... you need to have paid the smaller of 110% of 2025 tax or 90% of 2026 tax. see Form 2210 instructions to see how the IRS describes it and the penalty calcs on Li...

the 110% applies to prior year tax... you need to have paid the smaller of 110% of 2025 tax or 90% of 2026 tax. see Form 2210 instructions to see how the IRS describes it and the penalty calcs on Lines 1-9. yes I think if prior year tax was very high and not advantageous, then you just need to keep track of how much is 90% of 2026 projected tax, less withholding, divide by 4 - that is the quarterly ES payment you need to meet to avoid penalty. The upside of the very large Q1 payment you already made gives you good protection from underpayment in the earlier quarters which usually accounts for bulk of any penalty, and flexibility if the quarterly ES requirement increases due to other unplanned income; you can probably just top up ES payment for later quarters and hopefully you won't need the AI method (extra filing work).

Mishonio

Thanks @AnnetteB6 . I am using TT online premier and don't see such an option. I can navigate to Deductions and Credits - > Dependent Care Credit, but don't see an update option and now matter ...

Thanks @AnnetteB6 . I am using TT online premier and don't see such an option. I can navigate to Deductions and Credits - > Dependent Care Credit, but don't see an update option and now matter what I do the FSA question doesn't pop up any more Also, will this Q even make a difference? Why does it matter if FSA account was used or not to pay for child expenses? Please advise Thanks! Michael

user17712776278

Your solution of going to the Student Info Worksheet and changing line 18 "Used for Credit" to zero worked. Thank you so much... Last year Turbo Tax had a question that asked if the parent had used t...

Your solution of going to the Student Info Worksheet and changing line 18 "Used for Credit" to zero worked. Thank you so much... Last year Turbo Tax had a question that asked if the parent had used the credit or not. This year I didn't see the question... Turbo Tax is getting worse every year. A couple years back they refunded the cost due to Oregon Stake walk through sometimes selecting filing approach that paid higher taxes. I'd think they should refund 2025 cost of TurboTax as well. Many people might end up over paying taxes due to the walk through not asking the right questions and end up making people pay taxes on qualified 529 distributions. So terrible...

faketeeth

rjs

You can use the tool at the following link on the IRS website to see if you qualify for the credit. Do I qualify for the credit for the elderly or disabled?

mfray3

I am using turbo tax online, how do i save my tax file to my computer?

LaShaunA3

I assume you're referring to the excise tax penalty caused by a missed Required Minimum Distribution. To fix it, take the missed RMD as soon as possible and file Form 5329 requesting a waiver of the ...

I assume you're referring to the excise tax penalty caused by a missed Required Minimum Distribution. To fix it, take the missed RMD as soon as possible and file Form 5329 requesting a waiver of the penalty. The 25% penalty may be reduced to 10% if corrected timely and is often waived when properly addressed. If 2025 is your first RMD year, you may delay taking that RMD until April 1, 2026, and it'll still count for 2025. However, if it isn't your first RMD year, the distribution had to be taken by December 31, 2025. Taking it in 2026 won't satisfy the 2025 requirement. In that case, you should still take the missed amount promptly, report it correctly on your return, and follow the steps above. For more information, see Publication 590-B (2025), Distributions from Individual Retirement Arrangements (IRAs)

Tulane

Hi @RogerD1 , My sister and I finally called Equiniti and found out that my sister did not receive the check because she had to turn in her Walgreens certificates. This will not be likely as she ...

Hi @RogerD1 , My sister and I finally called Equiniti and found out that my sister did not receive the check because she had to turn in her Walgreens certificates. This will not be likely as she received it in 2002. Fortunately Equiniti has a Letter of Transmittal that will allow shareholders to report lost certificates. For $75, Equiniti can send the check to her as they were able to verify that she does have a certificate for X shares. Hence, my sister will need to report 1099-B proceeds to IRS for 2025 as her shares were liquidated last year. Equiniti has nothing to do with her retirement account. What a headache. I'm glad you asked me all the right questions to get me through this hurdle. My sister and I are grateful for all the tax experts here. I will file 1099-B as instructed from this discussion chain. I believe my questions and concerns are now resolved. Regards, Tulane

LaShaunA3

Once your return is filed, TurboTax doesn't control how quickly the IRS or your state processes or issues your refund. For the most up-to-date status, you can check your state tax agency’s website, w...

Once your return is filed, TurboTax doesn't control how quickly the IRS or your state processes or issues your refund. For the most up-to-date status, you can check your state tax agency’s website, which typically offers a refund tracking tool.

mousse94

penalty for no rdm

rjs

Hardly anyone qualifies for the Credit for the Elderly or Disabled. You can only qualify if your income is below certain limits, and there is a limit on nontaxable income, including the nontaxable po...

Hardly anyone qualifies for the Credit for the Elderly or Disabled. You can only qualify if your income is below certain limits, and there is a limit on nontaxable income, including the nontaxable portion of Social Security benefits. The income limits were established in 1983 and have never been adjusted for inflation, so they are very low by today's standards. In most cases Social Security income alone, including Social Security disability income, is enough to put you over the income limit. TurboTax will calculate whether or not you qualify, but you must first enter all of your income. If you want to try to get the credit, go to Federal Taxes > Deductions & Credits > Other Deductions and Credits > Elderly or Disabled Credit.

DianeW777

Yes, you answered the question correctly when you changed it to say 'I did not transfer the fund into her IRA'. The reason is that the question is being asked specifically for the amount distr...

Yes, you answered the question correctly when you changed it to say 'I did not transfer the fund into her IRA'. The reason is that the question is being asked specifically for the amount distributed, required minimum distribution (RMD) on the 1099-R form and not the entire IRA. @bethhb

PatriciaV

Are you able to enter the current year amount in the prior year income category? Have you completed other Schedule C entries so that you return to your Business Summary page? Income is typically list...

Are you able to enter the current year amount in the prior year income category? Have you completed other Schedule C entries so that you return to your Business Summary page? Income is typically listed under the Expenses section on the summary page. You should be able to edit income that is already entered or add other income.

howjltx

Per dmertz suggestion below, I called my plan administrator and ask about the distribute of access contribution where he said since I was converting all my pre-tax (except company matched, we will do...

Per dmertz suggestion below, I called my plan administrator and ask about the distribute of access contribution where he said since I was converting all my pre-tax (except company matched, we will do this tomorrow morning) I did not have to worry about the $2,700 contributed to pre-tax catchup for tax year 2025. I still fill like since I was HCE I need to do this or it will be returned as excess (see below) where something like this happened before and I did not correct by 15 April that year, the excess was returned and I had to pay tax on it twice, once for the current year and again for the previous year. @ dmertz wrote: As a HCE for 2025, if you contributed $2,700 as pre-tax catch-up, that needs to be corrected, otherwise it's treated as an excess contribution. This would need to be distributes as a return of the excess contribution. Unless the plan can treat it as their error, I don't think that it can be moved to the designated Roth account. However, based on the amount shown with code D and code AA in box 12 of your W-2, it would seem that the $9,000 could be considered to be part of your regular elective deferral, not catch-up. Ask the plan

MindyB

To figure out your deduction, you need to isolate the overtime premium, which is the "half" portion of your time-and-a-half pay. Since your stub already separates coefficient overtime, that amount ty...

To figure out your deduction, you need to isolate the overtime premium, which is the "half" portion of your time-and-a-half pay. Since your stub already separates coefficient overtime, that amount typically represents this specific premium and is the portion you should use for your calculation. Regarding the other categories, holiday pay is generally not deductible unless those hours pushed your total physical work hours for the week over 40. For standard overtime, you only deduct the extra 0.5 premium, not the base hourly rate (the "1.0") already included in your pay. Simply total the coefficient overtime amounts and any specific overtime premiums to find your final figure. Here is some information you may find helpful: No Tax on Overtime Explained: Qualified Overtime Deduction Rules for 2025

dranskely

LaShaunA3

The 1099 NEC actually won't include a business code. The IRS business activity code is something you choose when filing Schedule C. You can find the correct code based on your type of work in t...

The 1099 NEC actually won't include a business code. The IRS business activity code is something you choose when filing Schedule C. You can find the correct code based on your type of work in the IRS instructions here. Pick the code that best matches what you‌ do.

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Re: Hello my name is Mickenson I filled my taxes don’t receive my completed return may you help m...

If we lived and worked in Mears, MI, no where near Detroit. Why do we need Detroit returns?

Re: Long term care insurance premium cost not included in Sched C but instead is on Form 1040

Re: Paid estimated tax on mid-Jan 2026 converted IRA to ROTH and beyond, am I doing this right?

Re: Did you have a Flexible Spending Account to pay for child or dependent care?

Re: Turbo Tax is not allowing me to input qualified education expenses from my 529 plan withdrawals.

I received a notice from IRS, indicating they didn't receive 2024 tax return from my wife. We filed joint return through turbotax online and the status showed "Accepted"

Re: Hello. In March of 2026, the Social Security Administration determined that I was permanently disabled as of September 2024. Am I able to claim a disability tax credit?

save a file from turbo tax online?

Re: we didn't get a rdm

Re: Walgreens 1099-B: Box 1e Cost or Other Basis is empty

Re: I only received my Federal tax refund but not the state ? Where is it

we didn't get a rdm

Re: Hello. In March of 2026, the Social Security Administration determined that I was permanently disabled as of September 2024. Am I able to claim a disability tax credit?

Re: Deceased husband's IRA rolled over into my Existing IRA, Turbotax incorrectly reporting my no...

Re: Can't enter self-employed income for 2025 from an existing 2024 entry. When you choose "Looks...

Issue: HCE in 2025 contributing to regular 401k catch-up contribution.

Re: I have my last paycheck stub from 2025 that has my overtime, coefficient overtime and holiday...

I only received my Federal tax refund but not the state ? Where is it

Re: How do I find a business code on a 1099-NEC?

Do you have a TurboTax Online account?

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