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When you have an excess contribution that is not due to the Roth IRA contribution being excess because of your MAGI for the purpose being too high, which account of these accounts you request the ret... See more...
When you have an excess contribution that is not due to the Roth IRA contribution being excess because of your MAGI for the purpose being too high, which account of these accounts you request the return of contribution be made from doesn't matter with regard to correcting the excess.  Although the excess is deemed to be in the Roth IRA, the return of contribution does not have to be from the account were the excess is deemed to be.  Reducing the amount of the traditional IRA contribution in this case will still reduce the amount of excess that is deemed to be in the Roth IRA.  Of course if obtaining a return of all of one of these contributions does not fully resolve the excess, some amount of contribution will need to be returned from the other account.   (If the excess is due to exceeding the permissible Roth IRA contribution alone, that excess would need to be returned or recharacterized from the Roth IRA.)   And just to be clear, a return of contribution before the due date of the tax return, including extensions, is not an ordinary distribution.  A return of contribution before the due date must be explicitly requested.
That question should appear as you go through the Child and Dependent Care Credit section of your return.     Go to Deductions and Credits > You and Your Family > Child and Dependent Care Credit ... See more...
That question should appear as you go through the Child and Dependent Care Credit section of your return.     Go to Deductions and Credits > You and Your Family > Child and Dependent Care Credit and click Update to go through that section again.
The IRS says in this document:   You may avoid the Underpayment of Estimated Tax by Individuals Penalty if: Your filed tax return shows you owe less than $1,000 or You paid at least 90% o... See more...
The IRS says in this document:   You may avoid the Underpayment of Estimated Tax by Individuals Penalty if: Your filed tax return shows you owe less than $1,000 or You paid at least 90% of the tax shown on the return for the taxable year or 100% of the tax shown on the return for the prior year, whichever amount is less. If your adjusted gross income (AGI) for 2023 was more than $150,000 ($75,000 if your filing status for 2024 is married filing separately), substitute 110% for 100%. This applies even if in your prior year (2025), your tax liability (and not your taxable income) was very low. If you had no liability in 2025, then you do not incur penalty even if you do not pay estimated taxes in 2026.   In 2026, if you have self-employed income, you'll have to pay self-employment tax in addition to regular income taxes. Self-employment tax is calculated as 15.3% of 92.35% of your net self-employed income (after deduction of expenses). Income tax is paid on your taxable income (after deduction of the standard deduction and other deductions) and depends on your tax bracket.   See this TurboTax article for tax brackets.
This is one of those decisions where it’s best to consult a EA, CPA and business attorney, because the right choice depends on your income, risk level, and state laws.    You can also review the ... See more...
This is one of those decisions where it’s best to consult a EA, CPA and business attorney, because the right choice depends on your income, risk level, and state laws.    You can also review the IRS overview of business structures here   Business structures      
Can you give us some more information to clarify your situation? You never said how you did acquire whatever it was.
If you don't want to file with expert assistance but its showing up on your account, you may need to downgrade the version of the software you are using. Here's an article showing how to remove Tu... See more...
If you don't want to file with expert assistance but its showing up on your account, you may need to downgrade the version of the software you are using. Here's an article showing how to remove TurboTax Live.   
Yes. When you receive a consolidated Form 1099-B from Fidelity with many transactions, TurboTax Online lets you report aggregated totals by the sales category instead of every single transaction.  ... See more...
Yes. When you receive a consolidated Form 1099-B from Fidelity with many transactions, TurboTax Online lets you report aggregated totals by the sales category instead of every single transaction.   To enter aggregated totals from your consolidated 1099-B in TurboTax Online, follow these steps: 1. Go to the Wages & Income section. 2. Select Stocks, Mutual Funds, Bonds, Other under Investment Income. 3. When prompted, select I'll choose what I work on. 4. Select Enter a summary for each category or a similar option to input totals. 5. Enter the aggregated proceeds, cost basis, and wash sale adjustments for each category as shown on your 1099-B summary (e.g., short-term covered sales, long-term non-covered sales). This lets you report grouped transactions without entering each one individually.
@gradstudentwq    << Isn't it true that my total income should only include scholarship money that didn't go towards qualified educational expenses?>>     Yes, this is the same thing as stating t... See more...
@gradstudentwq    << Isn't it true that my total income should only include scholarship money that didn't go towards qualified educational expenses?>>     Yes, this is the same thing as stating that if Box 5 exceeds Box 1, then that difference represents scholarship money that didn't go towards QEE. 
Every time I try to correct, it just adds that to what is already posted for Sales tax location details.
Be sure that you are entering the information in the Wages and Income > Less Common Income > Sale of Home (gain or loss) section of your return.  This section will cover the requirements needed to cl... See more...
Be sure that you are entering the information in the Wages and Income > Less Common Income > Sale of Home (gain or loss) section of your return.  This section will cover the requirements needed to claim the capital gains exclusion for the sale of your main home.   To learn more, take a look at the following TurboTax help article:   Is the money I made from a home sale taxable?  
Para completar y presentar tu declaración de impuestos del 2024 que comenzaste el año pasado, aquí está lo que debes hacer:   1. Abre tu retorno comenzado: Accede a tu cuenta de TurboTax Online ... See more...
Para completar y presentar tu declaración de impuestos del 2024 que comenzaste el año pasado, aquí está lo que debes hacer:   1. Abre tu retorno comenzado: Accede a tu cuenta de TurboTax Online con tu correo electrónico y contraseña. Deberías ver tu retorno del 2024 guardado. Selecciónalo para continuar donde lo dejaste. 2. Completa todas las secciones: Termina de ingresar toda tu información de impuestos (ingresos, deducciones, créditos, etc.) siguiendo las pantallas de TurboTax. 3. Revisa tu retorno: Verifica que todos tus datos sean correctos antes de presentar. 4. Presenta tu declaración: Una vez completado, haz clic en Presentar para enviar tu retorno al IRS electrónicamente.   Importante: El reembolso que no recibiste el año pasado probablemente fue porque no presentaste la declaración. Una vez que presentes el retorno del 2024 ahora, recibirás tu reembolso según lo procese el IRS (generalmente en 21 días si es electrónico).  
You can still efile if you take an extra step.  In the past you wouldn't be able to efile after such an occurrence, but starting last year the IRS developed a workaround so the parent could still efi... See more...
You can still efile if you take an extra step.  In the past you wouldn't be able to efile after such an occurrence, but starting last year the IRS developed a workaround so the parent could still efile.  The first-listed primary taxpayer on the return (commonly a parent) can get an IP PIN and use it when efiling.  Then the parent should be able to efile.   The dependent or the secondary taxpayer (spouse) on the return do NOT have to get/use an IP PIN if they don't already have one.  Only the first-listed primary taxpayer needs to get one.   Starting last year "the IRS will accept Forms 1040, 1040-NR and 1040-SS even if a dependent has already been claimed on a previously filed return as long as the primary taxpayer on the second return includes a valid Identity Protection Personal Identification Number (IP PIN). This change will reduce the time for the agency to receive the tax return and accelerate the issuance of tax refunds for those with duplicate dependent returns. In previous years, the second tax return had to be filed by paper."   "In the scenario where the dependent has already been claimed on another tax return, the IP PIN provides an important new option. The taxpayer listed first on an e-filed tax return claiming dependents can provide their current year IP PIN when they file. If they do, the return will still be accepted. The spouse (if married filing jointly) and the dependents on the tax return don’t need to provide an IP PIN if they don’t have one."   IRS Source: https://www.irs.gov/newsroom/irs-takes-steps-to-help-prevent-refund-delays-by-accepting-duplicate-de...
Para ingresar tu Formulario 1095-A en TurboTax en español, sigue estos pasos: 1. Abre o continúa tu declaración de impuestos. 2. En el menú de la izquierda, selecciona Federal. 3. Elige Deduccio... See more...
Para ingresar tu Formulario 1095-A en TurboTax en español, sigue estos pasos: 1. Abre o continúa tu declaración de impuestos. 2. En el menú de la izquierda, selecciona Federal. 3. Elige Deducciones y créditos. 4. Desplázate hacia abajo y selecciona Seguro Médico. 5. Encuentra la sección para Seguro de salud del Mercado (Formulario 1095-A) y haz clic en Comenzar. 6. Responde que sí cuando te pregunten si tienes un Formulario 1095-A. 7. Ingresa la información exactamente como aparece en tu Formulario 1095-A. Si tienes más de un formulario 1095-A, ingresa cada uno por separado. TurboTax completará automáticamente el Formulario 8962 para calcular el Crédito Fiscal.
Yes, you do need to report them even though you did not receive a Form 1099-INT showing the amount.  To file a complete and accurate tax return, you are required to report all of your worldwide incom... See more...
Yes, you do need to report them even though you did not receive a Form 1099-INT showing the amount.  To file a complete and accurate tax return, you are required to report all of your worldwide income received.     Enter the interest income as if you did receive a Form 1099-INT with the interest reported in box 1.