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Hi, to enter a negative adjustment on your wages, in TurboTax Free Edition, here are the steps:
1. Federal taxes / Wages &
Income -Less Common Income ( very last section on the screen)
2. Select Miscellaneous Income , 1099-A, 1099-C- Start
3. Select Miscellaneous Income- Other income not already reported on a Form W-2 or Form 1099- select Start
4. Follow prompts to enter your information.
When I enter negative amount as described above, Turbotax is not allowing me to eFile my Federal tax returns. It says I need to fix the return and 'Wages, Salaries & Tips worksheet: TP other earned inc shouldn't be less than zero." Please help!!
you can't have negative Other Income. That makes sense, doesn't it ?
There was a loss on excess contributions to the 401k contribution due to the stock market fluctuation. So what was returned to me (excess contribution) was less than my contribution to 401k. The letter from the retirement fund told me I need to enter it as a negative amount in this category.
I'm in the same situation and getting the same error "'Wages, Salaries & Tips worksheet: TP other earned inc shouldn't be less than zero." Has anyone found a solution to this?
Turbo Tax will not allow a negative income. If your income is less than $0, you can enter $0 or leave the field blank.
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