That amount is not added to your wages. It's for informational purposes and is required on your W-2. Your W-2 Line 12b Code DD is the Cost of employer-sponsored health coverage. More info   See What do the letter codes in Box 12 of my W-2 mean?     ... View more

If the 1099-G form doesn't have the state identification number, use the Form 1099-G Payers Tax Identification Number (TIN).   ... View more

Yes, use the corrected .tax file you created not the one that you sent to the IRS and does not have the IRS correction. By doing this, you'll insure any carryover items will be reflected correctly on your 2020 income tax return. ... View more

Yes, it includes credit cards. Cash contributions includes cash, checks, money orders, credit cards, debit cards and cryptocurrency.  ... View more

TurboTax generates one Form 1096 for each social security number or Employer Identification Number (EIN).   No, you don't need to enter the name of the rental unless you have it registered as a business, in which case you may have an EIN which will have the rental name.   Quick Employer Forms helps small business owners like yourself quickly and easily create W-2, 1099-MISC, 1099-INT, and 1099-DIV forms.   It asks you easy questions, and then completes the forms for you automatically. It even e-files the forms for you.   For unlimited access to Quick Employer Forms, which you can e-file at no additional cost, you'll need to use one of the following TurboTax products: TurboTax Online: TurboTax Self-Employed or TurboTax Live Self-Employed TurboTax CD/Download: TurboTax Business or TurboTax Home & Business Quick Employer Forms supports e-filing to the Social Security Administration and Internal Revenue Service only. It doesn't support filing any state employer forms, nor does it support printed and mailed forms. If you need to file 100 or more forms, we recommend our 1099 E-File Service, designed to accommodate larger businesses. If you use our Lacerte and ProSeries software, contact your sales representative for information on Quick Employer Forms. See also Quick Employer Forms questions. ... View more

There are two ways to add TurboTax Live benefits.   1. Start with TurboTax Live When you first start your return you can choose a TurboTax Live product: TurboTax Live Basic TurboTax Live Deluxe TurboTax Live Premier TurboTax Live Self-Employed You'll see the cost for your version of TurboTax Live when you select it. 2. Upgrade to TurboTax Live if you started with a different TurboTax product If you originally selected TurboTax Free Edition, Deluxe, Premier, or Self-Employed, you can add TurboTax Live. You can do this at different points while working on your return, but to add it now: Sign into your current account and open or continue your return. Select the Upgrade button in the left menu. Select the Live tab to select your product. You'll see your TurboTax Live price in this screen.   Don't worry about paying for TurboTax Live before you speak to a tax expert. You'll pay when you file your taxes.   If you have a question about your return and aren’t sure if it requires the help of a Tax Expert, enter your question in the Search box and we'll let you know if you need a tax expert.   Note: TurboTax Live is available for TurboTax Online customers only. TurboTax Live isn't available in the TurboTax CD/Download software.   Related Information: What is TurboTax Live? How do I connect with a tax expert in TurboTax Live? When I get an expert review in TurboTax Live, should I talk live to a tax expert or get a written response? ... View more

Yes, you have to claim the $500 as income. Per IRS, all income is taxable unless stated that it is not taxable.   The $600 is refers to whether a form 1099 must be issued.    Since you weren't issued a W-2, this is considered self-employed income.  Self-employed income is reported on Schedule C Profit or Loss from Business.   To enter your self-employment income was from cash, personal checks, credit card payments, or cryptocurrency: Type Schedule C in the Search box and then select the Jump to link. This will take you to where you can enter any cash, personal checks, credit card payments, or cryptocurrency (Form 1099-K) related to your self-employment.  Note:   If the "Jump to" doesn't work for you, on the left menu, select Federal. At the top of the screen, select the Wages & Income tab. Scroll down to Self-Employment , Income and Expenses, select Start. You may first be asked some general questions about your business.  After you answer them, you’ll be taken to the Let's enter the income for (your line of work) screen where you can enter this income as Other self-employed Income.   Related Information: What's the difference between self-employment income and other income? Where do I enter a 1099-MISC? Why am I paying self-employment tax? ... View more

TurboTax accounts cannot be deleted. As long as you haven't paid your TurboTax Online fee (or registered a cost-free version), you can clear any data you entered using the Clear and Start Over feature.    Once you've paid or registered, the law requires Intuit to store copies of your return. These are the same requirements imposed on all accountants, CPAs, and other professional tax preparers. (Fees paid through Refund Processing and pre-paid code also count as "paid.")   You can, however, deactivate a TurboTax account: For TurboTax Online users – sign in to your account, click Contact and type your question to talk to a live expert. You need to be using a paid version of TurboTax. For TurboTax Desktop users or other situations, type a question here and make sure to select your product. You will need to supply identification documentation to substantiate who you are. ... View more

Form 8936 is available. If you purchased a new vehicle that runs on electricity drawn from a plug-in rechargeable battery, you may be eligible to claim the qualified plug-in electric drive motor vehicle tax credit, which can reduce your tax bill.    To quickly get to the motor vehicle credit section to generate Form 8936: Type motor vehicle credit in the search bar. Click on the Jump to motor vehicle credit result.  Continue with the onscreen interview until complete. To qualify for the qualified plug-in electric drive motor vehicle tax credit your vehicle purchase must satisfy a number of criteria. First, only qualified vehicles you purchase after December 31, 2009 are eligible for the credit. Your plug-in electric vehicle must also be brand new, made by an eligible manufacturer under the Clean Air Act, have at least four wheels, be appropriate for driving on public streets and highways, and have a weight rating of less than 14,000 pounds. And most importantly, the vehicle must have an electric motor that uses a rechargeable battery to generate at least 4 kilowatt-hours of capacity.   A listing of qualifying vehicles can be found at the IRS website: IRC 30D New Qualified Plug-In Electric Drive Motor Vehicle Credit. ... View more

You don't need to show you sent out 1099's. The amount you paid for outside contractors, to remodel your rental, would be entered as a capital improvement (asset) in TurboTax.    Capital improvements that add to the value of your rental property, prolong its life, or adapt it to new uses must be depreciated over a period of time rather than deducted as a current-year expense.    To enter your rental remodel: In TurboTax, search for rentals and select the Jump to link at the top of the search results. Answer Yes to the question Did you have any rental or royalty income and expenses in 2020 for property you own? Follow the on-screen instructions as you proceed through the rental and royalties section. We'll ask you to enter general information about your rental (like description, address, and ownership percentage). Eventually, you'll come to the Rental Summary screen, which is where you enter your rental income and expenses, assets and depreciation, and vehicle expenses. Tip: Rent is considered income in the year you received it, not the year it applies to. This means that a rent payment for the month of January 2021 collected in December 2020 is reported on your 2020 return.   If you're also filing a nonresident state return to report income from an out-of-state rental property, be sure to complete your nonresident state return before you prepare your resident state return when you get to the State Taxes section.   You can enter up to 45 rental properties in TurboTax.   Related Information: Can I claim a security deposit? What kinds of rental property expenses can I deduct? What is rental depreciation and how does it differ from an expense? How do I handle capital improvements and depreciation for my rental?   ... View more