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TurboTax's guidance for populating the M1PR are inaccurate or confusing. For context, my wife and I did Married Filing Separately. When I went to do the M1PR form the instructions said not to in... See more...
TurboTax's guidance for populating the M1PR are inaccurate or confusing. For context, my wife and I did Married Filing Separately. When I went to do the M1PR form the instructions said not to include any income from "[my] spouse". But, curiosity got the best of me and when I went to try filling out the form on MN's website it mentions excluding all of the same people as in the screenshot from the desktop version except one's spouse. So now I have potentially overstated my refund due.
You have to recreate the actual wrong original return. Then when it matches each line that you really filed you have to tell Turbo Tax you will mail it so it thinks it was filed. Then you can amend i... See more...
You have to recreate the actual wrong original return. Then when it matches each line that you really filed you have to tell Turbo Tax you will mail it so it thinks it was filed. Then you can amend it. You would have to buy the prior year Desktop program here. They only sell the last 3 years. You need a full Windows or Mac computer to install it on https://turbotax.intuit.com/personal-taxes/past-years-products  
The IRS generally allows you to file an amended return (Form 1040-X) to claim a REFUND within 3 years from the original filing date or 2 years from when the tax was paid, whichever is later, but if y... See more...
The IRS generally allows you to file an amended return (Form 1040-X) to claim a REFUND within 3 years from the original filing date or 2 years from when the tax was paid, whichever is later, but if you need to correct the income you should file an amended return.   However, since the state said they made the adjustment due to the change in the federal income, the IRS may have already made the adjustment.  You should review the notice that the state sent you carefully, and if you do not agree with the assessment you can prepare the amended returns and submit them to the state with the corrected amounts.  (Note because you did not report the income correctly, interest was most likely added to the amount you owed.)
Will simply deleting Form 5329-T fix the problem?
what's the issue and what's your answer?   are you on desktop?  go to forms mode and see if anything has a red exclamation mark next to it and why (fields in yellow).   do you have any 1099's on ... See more...
what's the issue and what's your answer?   are you on desktop?  go to forms mode and see if anything has a red exclamation mark next to it and why (fields in yellow).   do you have any 1099's on the income summary showing "Needs Review"?
The best way to amend your tax return is by using the same method that you used to file the original return. The amended return uses the original return as a starting point. If you amend your return ... See more...
The best way to amend your tax return is by using the same method that you used to file the original return. The amended return uses the original return as a starting point. If you amend your return using the same method you used to file it, your original return is already there. To prepare an amended return with TurboTax, you would first have to recreate your original return in TurboTax, making sure that it exactly matches the return that you filed, then amend the recreated return.  
Oh my, I'm sorry to hear that!  I'm using a Lenovo laptop, and though updates are time-consuming (I have multiple states too), I haven't had my computer freeze in the process.  I do 'shut down' every... See more...
Oh my, I'm sorry to hear that!  I'm using a Lenovo laptop, and though updates are time-consuming (I have multiple states too), I haven't had my computer freeze in the process.  I do 'shut down' every evening.  I hope that things improve for you, and that you are able to complete your tax return without too much added stress.  After all, they are certainly not the most important thing we have to do in life.  Take care of yourself!   @mjpb52 
Hello DavidD66,   I appreciate your response to my issue, but I'm not sure I've described it adequately.  My brokerage firm shows the transaction in the 1099 report I received but describes it as "... See more...
Hello DavidD66,   I appreciate your response to my issue, but I'm not sure I've described it adequately.  My brokerage firm shows the transaction in the 1099 report I received but describes it as "noncovered securities and corresponds to transactions reported on your 1099-B as cost basis is available but not reported to the IRS.  Report on Form 8949, Part 1, with Box B checked."   I followed this instruction, but then Turbo Tax generated a duplicate 8949, and it required that I select Box C -   Short-term transactions other than digital asset transactions not reported to you on Form-B or Form 1099-DA.   I went back in and corrected the K-1 add'l info as the IRS directs - zeroing out lines 5 (sales price) and 7 (Basis of Partnership interest) and this allowed me to finally delete the duplicate 8949 copy.  But I still have a problem with my Schedule D because it wants entries (which I no longer have) for Box C for form 8949.   Thanks again for your help and any clarification you could provide would be greatly appreciated.   Regards, alcibiades77  
Different version of the problem: I enter multiple separate 1099-R forms manually,no problem here. The sum for the gross amounts flows to the 1040, but the taxable amount does not. So I entered the s... See more...
Different version of the problem: I enter multiple separate 1099-R forms manually,no problem here. The sum for the gross amounts flows to the 1040, but the taxable amount does not. So I entered the sum by the override and TurboTax does not want to let me file. In some other form, my address flowed from some other form but my name did not; again I entered it manually Rejected by Turbo Tax.
To enter Federal or State Estimated Taxes Paid, including a state estimated payment made in January for the prior year, go to Federal on left or at top (Personal for Home & Business) Deductions and... See more...
To enter Federal or State Estimated Taxes Paid, including a state estimated payment made in January for the prior year, go to Federal on left or at top (Personal for Home & Business) Deductions and Credits Then scroll way down to Estimates and Other Taxes Paid Estimates - click the Start or Update button For a state estimated payment made in Jan 2025 for the prior year, go to 2024 state estimated taxes paid in 2025. When you click in the left column tab for Deductions & Credits, it may take you to a page called "Your Tax Breaks. Lower on that same screen should be a button or link for "Add more tax breaks" or "Show more tax breaks" or similar wording. When clicked, then the screen should expand, and all the deduction topics are displayed including "Estimates and Other Taxes Paid." Then that topic can be expanded further to get the subtopic Estimated Tax Payments.   CAPITAL GAINS What kind of Capital Gains do you need to enter?  That is usually investment sales on schedule D. Federal Taxes  Wages & Income  Then scroll down to Investment Income Then Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B) - click Start Then click +Add Investments at the bottom
Form 2210 asks for the withholding period to determine when your federal income tax was withheld from your pay or other income (for example W-2 or 1099 Income) during the year. It requires splitting ... See more...
Form 2210 asks for the withholding period to determine when your federal income tax was withheld from your pay or other income (for example W-2 or 1099 Income) during the year. It requires splitting your annual withholding into four calendar quarters to see if you have met your tax obligations on time.   The IRS divides the tax year into four periods to determine if there are any underpayment penalties. The federal withholding that you are entering (from W-2's 1099's etc.) falls within these four periods of time. The first period is January 01 - March 31. The second period is April 1 - June 30. The third period is July 01 -Sept 30 and the fourth period is Oct 01-Dec 31.   They are asking for the  amount of tax withheld during each of the four payment periods.   If you don't have the exact amounts, you can divide your total annual withholding by four. But reporting your withholding using actual dates can reduce your underpayment penalty.   See also: Guide to IRS Tax Penalties: How to Avoid or Reduce Them How do I add Form 2210? Underpayment of estimated tax by individuals penalty If you have additional information or questions regarding this, please return to Community and we'd be glad to help.
TurboTax doesn't provide a feature to enter estimated IRA withdrawals for the future tax year, such as 2026, within the current year's software. You enter IRA withdrawals only for the tax year you ar... See more...
TurboTax doesn't provide a feature to enter estimated IRA withdrawals for the future tax year, such as 2026, within the current year's software. You enter IRA withdrawals only for the tax year you are filing. To plan for your 2026 estimated taxes, you can manually estimate your income, including expected IRA withdrawals, outside of TurboTax. Then use that estimate to make your quarterly payments directly to the IRS and state tax agencies. You can use your 2025 tax return in TurboTax as a reference to help estimate your 2026 income and tax liability.   To calculate your 2026 estimated taxes including your current income and expected IRA withdrawals, here is a simple approach: 1. Estimate your total income for 2026. Include all sources like wages, IRA withdrawals, and any other income. 2. Subtract your expected deductions. Use either standard or itemized deductions you expect to claim. 3. Calculate your estimated adjusted gross income (AGI). 4. Use IRS tax rates for 2026 to estimate your tax on the AGI. 5. Include any additional taxes such as self-employment tax or state tax. 6. Subtract tax credits you expect. 7. From this estimated tax amount, subtract expected withholding. 8. Divide the remainder by 4 to find your quarterly estimated tax payment. This calculation helps ensure you pay enough tax through the year to avoid penalties. TurboTax uses your previous year’s data and these principles to help calculate estimated payments.
For some reason we don't see all the options when clicking on Tax Home. This is all I see:   I have no place to fix the amended return...
Leave boxes 15 through 20 empty. Do not enter anything in any of those boxes.  
This TurboTax Help reports that the Senior Deduction phase out begins at a modified adjusted gross income (MAGI) of $75,000 and is completely phased out at  a MAGI of $175,000.   The deduction ma... See more...
This TurboTax Help reports that the Senior Deduction phase out begins at a modified adjusted gross income (MAGI) of $75,000 and is completely phased out at  a MAGI of $175,000.   The deduction may be found on lines 31 through 37 of IRS Schedule 1-A and on line 13b of the IRS form 1040. What filing status are you reporting in the income tax return?  Please clarify.
No, it would be any money taken out of a 529 plan (like Bright Start or College Illinois!) for any non-qualified withdrawals (used for non-education expenses) or rollovers to other state plans, as th... See more...
No, it would be any money taken out of a 529 plan (like Bright Start or College Illinois!) for any non-qualified withdrawals (used for non-education expenses) or rollovers to other state plans, as these may trigger a recapture of previously claimed Illinois tax deductions.
the dropdown for the product shouldn't matter it's just turbotax trying to be clever - mainly for options and then gets it wrong for expired short options.  Form 8949 doesn't care about stock vs. bon... See more...
the dropdown for the product shouldn't matter it's just turbotax trying to be clever - mainly for options and then gets it wrong for expired short options.  Form 8949 doesn't care about stock vs. bond vs. option it just wants the 1099B boxes and gain/loss.
Yes, I have a copy of filed return and I did  compared the AGIs. I found that AGI in the filed return is matching the AGI in current form 1040 (after hitting the ammend) and in Column B of 1040-X. An... See more...
Yes, I have a copy of filed return and I did  compared the AGIs. I found that AGI in the filed return is matching the AGI in current form 1040 (after hitting the ammend) and in Column B of 1040-X. And only Column A of 1040-X is increased by $1200. And also when I open the .tax2024 file with TT2024 and before doing the Ammend the refund meter shows the exact correct refunds that I received when filing. I will look into the process of sending the diagnostic copy and will send later today or tomorrow, it if that is still needed. @VolvoGirl @ThomasM125