turbotax icon
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

All Posts

Can you clarify what type of income so we can help maneuver you?  Thanks.  @lipperl1 
Yes, depreciation can be entered using TurboTax Premier desktop program.   First, go to the Schedule C Business Income and Expenses or Schedule E Rental Income and Expenses section, depending on ... See more...
Yes, depreciation can be entered using TurboTax Premier desktop program.   First, go to the Schedule C Business Income and Expenses or Schedule E Rental Income and Expenses section, depending on whether your asset is being used in a business or a rental property.   Then, under the expense categories, look for Assets and Depreciation to enter the details about the asset used in your business or rental property.
Did you figure this out? I am having the same problem. I went in to the 8812 and checked full time student and it didn't help.   
We bring in lunch from local restaurants as we teach them their required readings.
TurboTax says it should be possible via the "Tools" menu, but it's not showing up for me.
I am having the same problem. (Using Desktop Version) Daughter is 17YO at year end.  Answers to all questions are correct.    I deleted the child and 8812, started over and same issue.  Still sa... See more...
I am having the same problem. (Using Desktop Version) Daughter is 17YO at year end.  Answers to all questions are correct.    I deleted the child and 8812, started over and same issue.  Still says I don't qualify for Other Dependent Tax Credit.  
No, you will not lose the tax files.  They are stored in a different directory from the TurboTax software. TurboTax tax data files and saved PDF's are stored, by default, in the TurboTax folder wit... See more...
No, you will not lose the tax files.  They are stored in a different directory from the TurboTax software. TurboTax tax data files and saved PDF's are stored, by default, in the TurboTax folder within the Documents directory.
To correctly report your RMD and delete the doubled entries, follow these steps:   First, delete the Form 1099-R and also delete any Form 5329:    On the left panel, click on the down arro... See more...
To correctly report your RMD and delete the doubled entries, follow these steps:   First, delete the Form 1099-R and also delete any Form 5329:    On the left panel, click on the down arrow to open more options You may have to scroll down a little to view the Tools option below Click on Tools, then Delete a form (Usually the third option down) Scroll down to delete Form 1099-R and then delete Form 5329-T (and 5329-S, if applicable)   Next, if one of your Fidelity 1099-Rs covers your entire RMD, you can use it to satisfy reporting your full RMD as follows:   Return to Income, then click the down arrow to the right of Retirement Plans and Social Security Select IRA, 401(k), Pension Plan Withdrawals (1099-R) in the Federal Income section Click on +Add a 1099-R and input the 1099-R from which you took your entire RMD Click Continue as you complete the interview entries "Let's get more information about your Required Minimum Distribution (RMD)", enter the amount of your RMD (no extras) that was due by December 31, 2025, Continue On the next screen, "How much of this distribution applied to your December 31, 2025 RMD?", enter your RMD (no extras) that you entered in the prior screen, Continue When you reach, "Review your 1099-R summary, Continue (not the pencil) When you reach, "Let's go over any required minimum distributions (RMD)", Continue (not the pencil)   If one of your Form 1099-R distributions covers all RMDs for 2025, you can enter the full amount of the RMDs (no extras) in the first Form 1099-R distribution above and then skip the second Form 1099-R questions about RMD by entering zero at step 4 above and just Continue through the remaining questions.
It depends. Please clarify the following selections made for your asset. And what assets exactly are being depreciated. Select an asset category -  How would you further describe this?
@bakerman747 ,  I am so sorry to hear of your loss.  I pray for the solace of the departed and for you and your family to find peace. Since  2025 tax year is the year of passing, you still file a t... See more...
@bakerman747 ,  I am so sorry to hear of your loss.  I pray for the solace of the departed and for you and your family to find peace. Since  2025 tax year is the year of passing, you still file a tax return ( federal and State ) as usual  with filing status of Married Filing Joint (MFJ).  Just as the prior years you still include the  SSA-1099s for both of you ( you and the spouse ),  any other income like  savings interest, etc.   The resultant taxable income may be zero but you still have to file , because IRS will still  see the  SSA-1099  ( from Social Security ) and needs to reconcile. For 2026, you file as widow/ single and probably will still have zero taxable income.   Is there more one of us can do for you ?    
This was a maddening, endless-loop frustration, and the instructions seemed to fix the issue of 1099-MISC income automatically populating in the Self-Employed section.  Thank you.    One addition, i... See more...
This was a maddening, endless-loop frustration, and the instructions seemed to fix the issue of 1099-MISC income automatically populating in the Self-Employed section.  Thank you.    One addition, i found that i had to uncheck boxes 'did you receive this in year prior' and 'do you expect to receive this next year' for the fix to work.   I.e., only check the box for the tax year in question. 
Yes, you need to report the non-deductible Traditional IRA contributions on your 2025 tax return, if you intend the contribution to be for the 2025 tax year.  Doing so will report the basis of the Tr... See more...
Yes, you need to report the non-deductible Traditional IRA contributions on your 2025 tax return, if you intend the contribution to be for the 2025 tax year.  Doing so will report the basis of the Traditional IRA on Form 8606.   Then, when you convert the Traditional IRA to the Roth IRA, it will actually be done in 2026.  Therefore, you will receive a Form 1099-R for 2026 in early 2027 that is reporting the Traditional IRA distribution.  When that Form 1099-R is entered into your 2026 tax return, it should not be taxable since the basis was reported on your 2025 Form 8606.  Conversions can be done at any time and are only associated with the year in which it is done, unlike IRA contributions which are tied to a particular tax year.   Or, if you intend for the Traditional IRA contributions to be made for the 2026 tax year, then nothing is reported on your 2025 tax return.   @tnanaihsoj 
I had one lender with two loans on two homes in 2025. We had a loan on a lender with a property we were trying to sell on 2025 (we had this property for 12 years). We purchased another home in 2025 ... See more...
I had one lender with two loans on two homes in 2025. We had a loan on a lender with a property we were trying to sell on 2025 (we had this property for 12 years). We purchased another home in 2025 with same lender. Fortunately, we sold the 12-year-old home in 2025. I want to take property tax deduction on both homes. The 12 year old home was paid off in early 2025 so property taxes are not on the 1098, but we have the tax receipt from the County. How do I put property taxes on the 12-year-old home in Turbo tax. Both homes have the same lender and that is the only way I see to differentiate the loans. I do not want IRS to think I overstated the tax amount on either 1098.   Do I enter them here? TurboTax Desktop: Select Federal Taxes, Deductions & Credits, and then enter them in the Property Taxes section.. Enter any additional property tax paid in 2025. Additional property taxes on your main home
I have been using a method similar to that described by @mtp79  above to avoid having to send in any paperwork by mail. TurboTax implies that you can enter group totals for all 1099-B transactions, b... See more...
I have been using a method similar to that described by @mtp79  above to avoid having to send in any paperwork by mail. TurboTax implies that you can enter group totals for all 1099-B transactions, but if you do this, you might have to send in paperwork by mail. The types of transactions that I have come across that should NOT be grouped are any where the cost basis was not reported to the IRS, wash sales, US Treasuries, and brokered CDs with accrued market discounts. The process of grouping transactions was more user-friendly years ago in TurboTax than it is today. There are other ways to do it, but this year I found it easier to skip importing, manually subtract out the transactions that should not be grouped from the group totals given on the 1099-B, and then enter the revised group totals for everything that could be grouped, and then create separate sections listing individual transactions for all the transactions that should not be grouped when e-filing. I have to file state taxes in Michigan which has limits on how many individual transactions can be listed when e-filing, so leaving everything ungrouped isn't an option for me.
I forgot to mention that this is an Installment sale.  Would that affect why land is not showing under Part 1 on Form 4797?  The correct gain for land is showing on Form 6252 under "The Unrecaptured ... See more...
I forgot to mention that this is an Installment sale.  Would that affect why land is not showing under Part 1 on Form 4797?  The correct gain for land is showing on Form 6252 under "The Unrecaptured Section 1250 Gain Smart Worksheet" line G