Employee Tax Expert
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Enrolled Agent for 14 years
Activity Feed for Irene2805
- Posted Re: Cannot enter 1099s on more than one schedule C on Get your taxes done using TurboTax. yesterday
- Got Cheered for Re: Why is my turbotax 2019 summary incorrect, and how do I amend it?. yesterday
- Posted Re: Why is my turbotax 2019 summary incorrect, and how do I amend it? on After you file. yesterday
- Posted Re: Re:2020 1099R distribution 100% repaid shown on a 5498 on Deductions & credits. yesterday
- Posted Re: Mortgage Interest Deduction filing Single on Deductions & credits. yesterday
- Posted Re: Turbotax Self Employed PC Desktop version is combining two businesses separate1099-NEC income... on Get your taxes done using TurboTax. yesterday
- Posted Re: 1099-NEC on Get your taxes done using TurboTax. yesterday
- Posted Re: When i go put my 1099g amount in 17,000 it says 44,000 when i finish. I have deleted it and p... on Get your taxes done using TurboTax. yesterday
- Posted Re: I got a 1099-g for essential worker hazard pay for 250. Do I need to enter that and where? Th... on Get your taxes done using TurboTax. yesterday
- Posted Re: The "Quick Employer Forms" Link does not work for sending 1099s. It just goes to a link for p... on Get your taxes done using TurboTax. yesterday
- Posted Re: Tax Preparer Sent CP2000 to wrong address? on After you file. yesterday
- Posted Re: Is anyone else having trouble entering in your 1099G form?? Mine keeps saying needs review bu... on Get your taxes done using TurboTax. yesterday
- Posted Re: I need to file form 1096 and print and mail form 1099 Misc. Can I do that with turbo tax? on After you file. yesterday
- Posted Re: Where on the Colorado return do I enter 529 contributions? on State tax filing. yesterday
- Posted Re: What can I do about the Home Heating Credit? I sont qualify, but it won't let me file either. on Deductions & credits. yesterday
- Posted Re: I haven't received any email tax return was accepted, but I got email with order confirmation... on After you file. yesterday
- Posted Re: The Ohio military retirement exemption is handled in the... on Retirement tax questions. yesterday
- Posted Re: Reporting foreign interest income. I've received $1556 of foreign interest income but do not ... on Deductions & credits. yesterday
- Posted Re: How do I report currency realized losses? on Investors & landlords. yesterday
- Got Cheered for Re: How can I enter my license code to download my purchased product?. Tuesday
yesterday
Tagteam is correct -- This is a known issue and our developers are working on it.
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yesterday
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No -- it is not necessary to change the summary for 2019. The change in the health insurance premium tax credit will not affect your 2020 return.
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yesterday
If you took the funds out of the IRA and then redeposited them into the IRA, you can indicate this in TurboTax by following these steps:
A few screens after the 1099-R input screen, you should see a screen, What Did You Do With The Money From this Payer?
Mark the radio button next to moved the money to another retirement account (or returned it to the same retirement account).
Below the grey line, click the radio button next to I rolled over all of this money"
Click Continue.
@srseboldt
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yesterday
I am unable to recreate the screen you posted in your question. For mortgages taken out after December 15, 2017, the limit is $750,000 if you are filing single or married filing jointly.
First, check your version of TurboTax Deluxe. Click Help > About and then click the Version tab. The version should be: WinPerReleaseMsi = 020.000.1586
If you have the correct version, you may wish to check the Home Interest Worksheet in Forms Mode. To do this:
Go into Forms Mode by clicking on the Forms icon in the top right of the blue bar.
In the Forms in My Return list on the left, click Home Int Wkst (lender name) to open it.
Check your entries, especially those on the Home Mortgage Interest Limitation Smart Worksheet, at the bottom of the form.
To return to the interview, click on the Step-By-Step icon in the top right of the blue bar.
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yesterday
Be sure you are entering the 1099-NEC information attributable to a business when you are in the section of TurboTax for that particular business. Please follow these steps:
In your return, click Income and Expenses and then click the Start/Revisit box in the Self-Employment section.
On the Your 2020 self-employed work summary screen, click on Edit next to your business.
Click on the box Add income for this work.
On the Let's enter the income for your [XX][ work, mark the radio button next to Form 1099-NEC, new IRS form for nonemployee compensation (replaces 1099-MISC)
and click Continue at the bottom of the screen.
Enter the information from the 1099-NEC on the next screen.
You will be brought back to the Here's your [XX] Info screen to select another category of income or expense.
When you are finished with this business, click Done at the bottom of the screen. You will be asked a few more questions about that business and then brought back to the Income and Expenses screen.
Start with Step 1 to enter income and expenses for another business.
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yesterday
Yes - TurboTax will generate supporting statements for different types of income entered. The IRS stated that, starting in 2020, nonemployee compensation is to be reported on Form 1099-NEC, rather than 1099-MISC. That is why the Schedule C is generated and included in your 2020 return.
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yesterday
It sounds as if you have more than one 1099-G entered. When you go to delete the form, make sure you delete all the 1099-G entries. To do this please follow these steps: TurboTax Online
While in your return, click on Tax Tools > Tools (in the black bar at the side of your screen).
Under "Other helpful links" click on Delete a form. Click Delete next to 1099-G and follow the onscreen instructions.
Be sure to do this for all instances of the 1099-G. [See screenshot #1 below.]
Once you have finished deleting the desired form(s) click the Continue with My Return box (in the lower right of your screen).
TurboTax CD/Dowload
Go into Forms Mode by clicking on the Forms icon in the top right of the blue bar. In the Forms in My Return list on the left, click on the form you wish to open and delete. Click on the Delete Form box at the bottom of the screen.
Be sure to do this for all instances of the 1099-G. [See screenshot #2 below.]
To return to the interview, click on the Step-By-Step icon in the top right of the blue bar.
Screenshot #1
Screenshot #2
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yesterday
If you are using the Free edition of TurboTax you will need to upgrade to the Deluxe Version to enter your 1099-G.
You may qualify for the IRS Free File Program delivered by TurboTax. To check this out, please click on this link: What is the IRS Free File Program delivered by TurboTax
To enter the hazard pay from your 1099-G please follow these steps:
Click on Federal > Wages & Income
In the Other Common Income section, click on the Start/Update box next to Other 1099-G income.
On the screen, What Type of Payment Did You Receive? select Taxable grant and click Continue.
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yesterday
To create 2020 1099-MISC forms you need to use the 2020 version of either TurboTax Self-Employed (online) or TurboTax Home & Business or TurboTax Business (CD/Download). Keep in mind that now, if you are reporting non-employee compensation, you need to prepare 1099-NEC instead of 1099-MISC. Please follow these steps:
TurboTax Self-Employed [Online]
Click on Income and Expenses and then click the Start/Revisit box in the Self-Employment section.
On the Your 2020 self-employed work summary screen, click Edit next to your business.
On the Here's your [business] info screen, click the box Add expenses for this work.
On the Tell us about any expenses screen, scroll down to Less Common Expenses, mark the radio button for Contract Labor and click Continue at the bottom of the screen.
On the screen, Let's enter the contract labor expenses for your [business], click on the link Help me prepare and file W-2s and 1099s. Then click on the link in the Search box.
This will take you to the Quick Employer Forms website, where you can prepare your forms.
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yesterday
Usually, the IRS will send a Notice CP3219A, to the taxpayer if the taxpayer doesn’t respond to the initial notice OR if the IRS does not accept the additional information provided.
It sounds as if the IRS does not accept the explanation given when responding to the CP2000. Give the CP3219A to your tax preparer and get their advice. You will probably have to pay the amount due,
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