Activity Feed for bosso3
- Posted I suggest that you return to the Social Security input di... on Retirement tax questions. June 6, 2019 9:13 AM
- Posted The Social Security worksheet is an internal and personal... on Retirement tax questions. June 6, 2019 8:50 AM
- Posted You do not include this on any W-2. Interest earned fr... on After you file. June 6, 2019 3:00 AM
- Posted It sounds to me like you removed all the money from the a... on Retirement tax questions. June 5, 2019 11:34 PM
- Posted I suggest: If the 1099R is incorrect, you should contact... on Retirement tax questions. June 5, 2019 11:34 PM
- Posted My understanding is that all SSA payments (and other inco... on Retirement tax questions. June 5, 2019 11:30 PM
- Posted In the first part of the conversation for Business Income... on Business & farm. June 5, 2019 5:20 PM
- Posted I suggest you refer to Publication 936 Home Mortgage Inte... on Deductions & credits. June 4, 2019 10:29 PM
- Posted I am not a tax professional. You said the 2 payouts were... on Retirement tax questions. June 4, 2019 10:16 PM
- Posted The new tax law for 2018 eliminated personal exemptions,... on Deductions & credits. June 4, 2019 8:59 PM
- Posted If you have rechecked the numbers, and a CPA has not foun... on Deductions & credits. June 4, 2019 8:59 PM
- Posted WoW you ask a lot! The impact on your taxes is that you... on Investors & landlords. June 4, 2019 7:49 PM
- Posted In the Social Security Income dialog, when you entered yo... on Retirement tax questions. June 4, 2019 7:01 PM
- Posted I am not 100% certain of this, but this is my understandi... on Retirement tax questions. June 4, 2019 5:39 PM
- Posted Thank you TurboTaxDawnC for the clarification and step-by... on Retirement tax questions. June 4, 2019 5:39 PM
- Posted You did not specify exactly which form you used. If you u... on Retirement tax questions. June 4, 2019 3:48 PM
- Posted I also suggest referring to the answers, especially Volvo... on Retirement tax questions. June 4, 2019 3:48 PM
- Posted Icbonazza: You did not say exactly which site you used, s... on Retirement tax questions. June 4, 2019 3:48 PM
- Posted I am not a tax professional, but I am experienced with ma... on Retirement tax questions. June 4, 2019 3:48 PM
- Posted Look on your Form SSA-1099. It probably shows that you r... on Retirement tax questions. June 4, 2019 3:42 PM
bosso3
Level 1
Member profile
June 6, 2019
9:13 AM
I suggest that you return to the Social Security input dialog and make your corrections. You can get the the Social Security input dialog by locating the FIND box, in the upper right corner of the screen (TT Deluxe). Type in "SSA 1099" and click the Find button. Select "Jump to SSA 1099". This should take you to the SSA 1099 data input dialog.
... View more
June 6, 2019
8:50 AM
The Social Security worksheet is an internal and personal worksheet. The IRS does not require that it be filed. If you wish to see the worksheet, in TurboTax Deluxe, Click the Forms icon, located at the upper right of the screen (in the blue stripe). Your return and worksheets should be displayed. You can scroll through the forms to find the worksheet, or on the left side click on the quick jump to "Social Sec". You can also print this worksheet for your records.
... View more
June 6, 2019
3:00 AM
You do not include this on any W-2. Interest earned from a savings account is usually reported to you on form 1099-INT. Interest is entered in Turbotax in: Federal Taxes > Wages & Income > Interest and Dividends.
... View more
June 5, 2019
11:34 PM
It sounds to me like you removed all the money from the account in 2018, and that is why the Total Distribution box is marked. It does not matter whether it was all removed in one or multiple transactions. I suggest you enter the 1099-R information and follow the TT questions and instructions. Pay attention to the question about whether any of the amount withdrawn was rolled over to another account.
... View more
June 5, 2019
11:34 PM
I suggest: If the 1099R is incorrect, you should contact your financial institution and request a corrected 1099R. They should be able to explain why it is checked, or issue a corrected form. Did you in fact roll it over? If so, you may be able to report that when you enter the newly created rollover account.
... View more
June 5, 2019
11:30 PM
My understanding is that all SSA payments (and other income) received in 2018 must be reported on you 2018 Income Tax Return. If you have no 1099-SSA I suggest you contact the SSA either via phone or in person, and ask why you did not receive the 1099-SSA.
... View more
June 5, 2019
5:20 PM
In the first part of the conversation for Business Income and Expenses, Schedule C, check to ensure that you checked the box that the business carries inventory. If you carry inventory, the conversation then asks for the year's beginning inventory value and ending value. That's as much as I know. i hope it helps.
... View more
June 4, 2019
10:29 PM
I suggest you refer to Publication 936 Home Mortgage Interest Deduction. See https://www.irs.gov/pub/irs-pdf/p936.pdf
... View more
June 4, 2019
10:16 PM
I am not a tax professional. You said the 2 payouts were issued by 2 different payers. This means that you should have received 2 Form 1099-R s - one from each payer. If so, enter each 1099-R separately. If you only received one 1099-R, you may be missing the second one, or you may have been paid by the same company. Your employer or plan representative should be able to help you determine this. Finally, if you are in fact being paid by 2 separate companies and receive 2 1099-R s, you likely now have 2 "retirement plans" (401k s) and would need to take an annual RMD from each plan. (This is different for IRA's.) For details see: https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-required-minimum-distributions#...
... View more
June 4, 2019
8:59 PM
The new tax law for 2018 eliminated personal exemptions, and increased the standard deduction. In 2017 the personal exemption was $4050 per person (more for over 65 or blind). In 2017 the standard deduction was $6350 (single) and $12,700 joint. 2018 standard deduction is 12,000 single, 24,000 married (with adjustments for head of household and over 65 .. .) If the person's marital status changed, or if they previously claimed many dependents, it is mathematically possible that 2018's standard deduction does not offset the loss of personal exemptions. However, a Medicaid recipient, living in a nursing home would likely have lots of medical expenses, which would likely exceed the standard deductions. My suggestion is to review all the entries you have made for income, and deductions. Look for mistakes in entry or perhaps double entries. Pay special attention to the medical expenses. Also, look to see if the SSA payments are being treated as not taxable. Check to see if the standard deduction is being taken or the itemized deductions are being used. Also ensure that the correct filing status (single or married-joint) is being used and matches last year's returns, if appropriate. If this does not resolve your question, please rsvp with details of your findings..
... View more
Membership stats
37
Posts
5
Solutions
0
Cheers Given
0
Cheers Received
Member Since
6/1/2019