My family is retiring in this tax year 2024.
Now how could they file the 1099 docs with the last paycheck, combined with SSA1099 and 1099R, for the last tax-year 2024?
What kind of tables/taps/terms will be used in our TurboTax App?
For example:
As for 1099R, I used pension tables.
As for edu expenses, I used Table 8863.
If the IRA will be funded by the bank after 4.15, could we file the IRA incomes in the next tax-year 2025?
Many thanks.
A substitute W-2 may be prepared using your final paycheck of December 2024.
Enter as if entering a W-2. At the screen Let's check for uncommon situations, select Didn't get a W-2 or received an incorrect W-2.
See TurboTax Help.
Which tables/taps/terms will be used in our TurboTax App?
Sorry, sure what the question is.
If you are funding a traditional IRA with a 2025 contribution, the contribution will be reported on the 2025 income tax return as a deductible traditional IRA deduction if it meets the IRS qualifications.
See TurboTax Help.
"sure what the question is"...
Please recommend the table-numbers. Like edu 8863.
"If you are funding a traditional IRA with a 2025 contribution..."
No. I will get the IRA funds this year on 4.14.2025 and I will report that income into IRS-Tax-Forms in 2025-2026.
Where can I find out the background-data-table?
While I reviewing the data-table, I can't change the options from 'A' to 'B'.
Where can I find out the info that, last year I used "standard" or "itemized" deductions?
You don’t need to know any of that. Just enter the income and deductions you have. Turbo Tax fills out the right forms. You enter each form you get like a W2 or 1099. Have no idea what you are talking about for background data table? If you use the Desktop program you can see and enter into the actual Forms.
Last year your Standard Deduction or Itemized Deductions are on 1040 line 12. If you itemized deductions you will have a Schedule A.
@VolvoGirl "on 1040 line 12..." Thank you.
Now I can not change my options from 'A' to 'B'. Usually what is the reason that I can not change/revise the data in the data-table "review"?