It's Form 8839 Qualified Adoption Expenses.  Please see the instructions below on how to enter your adoption expenses in TurboTax.   The adoption tax benefits provide an incentive for individuals or families to adopt an eligible child. The 2020 maximum dollar amount per eligible child is $14,300. If your expenses were spread over multiple years, you might be able to spread the credit over multiple tax returns (see Who Qualifies and What Adoption Expenses Qualify below).   Included in the tax benefits is a nonrefundable tax credit. This is a dollar-for-dollar reduction in the amount of federal taxes owed (tax liability) for the year. You won't get a refund if the tax credit is more than your total tax owed for the year. However: Any credit in excess of your tax liability may be carried forward for up to five years. There's an exclusion from income for an approved employer-provided adoption assistance program. To claim the adoption tax credit in TurboTax: Open or continue your return if it isn't already open. Search for adoption credit and select the Jump to link. On the Did you pay any adoption expenses in 2020 or earlier? or the Credit for Adoption Expenses screen, read the information and, if you qualify, answer Yes. Continue answering questions until you're finished. An eligible child is: Any child under the age of 18. If the child turned 18 during the year, the child is an eligible child for the part of the year they were under 18. Any disabled individual mentally or physically unable to take care of themselves. Regarding the adoption tax credit, keep in mind: If you've adopted the child of your spouse, you can't claim this credit. The credit usually isn't available if you are Married Filing Separately. Keep receipts for all qualified adoption expenses with your tax records. Related information:  Who qualifies for the credit? What adoption expenses qualify for the credit?   ... View more

You have to file for unemployment through your state to get unemployment plus Pandemic Unemployment Assistance (PUA) . Contact your state's department of Unemployment Security.   When filing your tax return, you may be eligible for the Economic Impact Payment (IEP).  Log on to TurboTax and start preparing your income tax return. TurboTax will ask you to manually enter the actual amount you received in IEP, if any, as you're going through the federal review section. If you didn't receive your IEP or only a portion of it, TurboTax will add the amount to your income tax return.   Per IRS: Generally, if you are a U.S. citizen or U.S. resident alien, you will receive an Economic Impact Payment of $1,200  ($2,400  for a joint return) if you (and your spouse if filing a joint return)  are not a dependent of another taxpayer and have a Social Security number valid for employment and your adjusted gross income (AGI) does not exceed: $150,000  if married and filing a joint return $112,500 if filing as  head of household or $75,000  for eligible individuals using any other filing status Your payment will be reduced by 5% of  the amount by which your AGI exceeds the applicable threshold above. You are not eligible for a payment if any of the following apply to you: You may be claimed as a dependent on another taxpayer’s return (for example, a child or student who may be claimed on a parent’s return or a dependent parent who may be claimed on an adult child’s return). You do not have a Social Security number that is valid for employment. You are a nonresident alien. The following are also not eligible: a deceased individual or an estate or trust.     ... View more

If you didn't receive your 1099-NEC form, contact the person you did the work for. If you made more than $600, they need to send you form 1099-NEC Nonemployee Compensation.   If you have a 1099-NEC form and need to enter it in the same place as a 1099-MISC that was received for self-employment. See How do I report income from self-employment?   Key Points on 1099-NEC and Other Self-Employment Income When you’re paid this way, there’s no withholding taken out of your income, which means you’ll pay both self-employment tax as well as income tax. A benefit of being self-employed is that it enables you to have lots of write-offs as well, so make sure to enter all your expenses. This helps you reduce the taxes you might owe or increase your refund. We’ll help you get every possible tax break you deserve. Related Information: Am I considered self-employed? Where do I enter a 1099-MISC? Where do I enter Schedule C? Why is there an amount in Box 1 (Nonemployee Comp) on my 1099-NEC? ... View more

The reason you owe state income taxes is because you didn't pay in enough state income taxes, from your paychecks, to cover the taxes based on your income (earnings). Contact your Human Resources or payroll department to see how you can adjust your state withholding so you don't owe next year.   There may be several other factors that go into having a shortfall at the end of the year. The following are some suggestions to help you find the reason why. Double check the amounts you entered into TurboTax to make sure they were entered correctly. Do a state income tax return line by line comparison to see what is different this year versus last year.   Your 2020 State Tax Withholding was lower than 2019.   You deferred less income into your Employer-Sponsored Retirement Plan or Flexible Savings Plan. You didn't qualify for a tax credit you received last year (or the credit amount decreased). You removed a dependent. You changed your filing status. If you itemize, your  Itemized Deductions  are lower this year. or the standard deduction is lower.   To  pay your state income tax  amount due, see the following:   Although a growing number of states offer direct-deposited refunds and/or let you pay your taxes with direct debit, not all states offer this.   When you get ready to file your state return, we'll let you know which tax refund and tax payment options your particular state offers.   You can also visit your state's website or  contacting your state Department of Revenue  for more information. ... View more

All you have to do is enter the amount(s) of stimulus you received in TurboTax. If you didn't receive any stimulus money, keep the boxes blank. TurboTax will automatically calculate what your stimulus amount is or whether you're getting one (called the Recovery Rebate Credit).   The Form 1040, Line 30, Recovery Rebate Credit will either be blank or have an amount, depending on what you entered.    To quickly get to the stimulus section of TurboTax: Search for stimulus and select the jump-to link at the top of the search results to return back to the section. Enter your updated info and Continue.   Note: Stimulus payments were advances on the Recovery Rebate Credit. Stimulus payments are not taxable income to you so you won't be taxed on the amount you receive.  It won’t reduce your refund or increase what you owe when you file your taxes this year. It’s also not considered income, so it won’t affect your eligibility for any federal government assistance or benefits. To review the TurboTax FAQ, click here .  ... View more

Yes, spend the $600. If you've already e-filed your tax return but need to make some changes to the Stimulus amount, we would like to give you the opportunity to review and update the Recovery Rebate Credit portion of your 2020 tax return before the IRS opens on February 12th.    If you want to review and update your 2020 return: Please enter your information  here  by February 6, to have your 2020 tax return sent back to you.  You will then receive an email from TurboTax on February 8, letting you know that your return is available and providing you with detailed instructions on how to review, update and re-file your tax return without the Recovery Rebate Credit. To quickly get to the stimulus section of TurboTax: Search for stimulus and select the jump-to link at the top of the search results to return back to the section. Enter your updated info and Continue.   Note: Stimulus payments were advances on the Recovery Rebate Credit. Stimulus payments are not taxable income to you so you won't be taxed on the amount you receive.  It won’t reduce your refund or increase what you owe when you file your taxes this year. It’s also not considered income, so it won’t affect your eligibility for any federal government assistance or benefits. To review the TurboTax FAQ, click here .  ... View more

If you've already e-filed your tax return but need to make some changes to the Stimulus amount, we would like to give you the opportunity to review and update the Recovery Rebate Credit portion of your 2020 tax return before the IRS opens on February 12th.    If you want to review and update your 2020 return: Please enter your information  here  by February 6, to have your 2020 tax return sent back to you.  You will then receive an email from TurboTax on February 8, letting you know that your return is available and providing you with detailed instructions on how to review, update and re-file your tax return without the Recovery Rebate Credit. To quickly get to the stimulus section of TurboTax: Search for stimulus and select the jump-to link at the top of the search results to return back to the section. Enter your updated info and Continue.   Note: Stimulus payments were advances on the Recovery Rebate Credit. Stimulus payments are not taxable income to you so you won't be taxed on the amount you receive.  It won’t reduce your refund or increase what you owe when you file your taxes this year. It’s also not considered income, so it won’t affect your eligibility for any federal government assistance or benefits. To review the TurboTax FAQ, click here .  ... View more

If your son has a business, check the 1099-K recipient's social security number. Perhaps the form is his. Form 1099-K.   You may be considered self-employed by the IRS and not realize it. To see if you're self-employed, click here.  The IRS Form 1099-K tracks income received through third-party payment methods, like credit credits, PayPal, and other payment services. If you received personal monies (not self-employed) and then were issued a form 1099-K, any discrepancies between the income reported on your 1099-Ks and the income you report to the IRS may send up red flags, potentially triggering an audit. For additional information, see  Form 1099-K Decoded for the Self-Employed ..     ... View more

If you're getting a federal refund but you owe state income tax, that means the federal government has more credits and deductions that you're eligible for than your state government.   Your state may even add back credits and deductions that the federal government allowed you. One example is the treatment of depreciation. Some states don't allow accelerated depreciation, which the federal government may.   Also, states have different income tax rates than the federal government. Your federal return income may be reduced by your credits and deductions therefore the income tax you pay is low or you may even get more money back versus what you paid. On the flip side, your state return may add back some of the federal deductions causing your income to be higher and the higher the income, the more taxes you pay.   Do a line by line comparison between your 2020 tax return and your 2019 tax return to see the differences from one year to the next.   ... View more

TurboTax automatically creates and adds Form 1040 when you do your tax return. You can preview your 1040 before you file it. See How do I preview my TurboTax Online return before filing?   You'll need to file form 1040 if you meet the IRS filing requirements. See Do I have to file a trust tax return?     ... View more