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Questions tagged [turbotax]

For questions about using Intuit's TurboTax software

3
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1answer
64 views

Property Tax entry for 2018 Federal Income tax

In preparation for 2018 Federal Income Tax (based on the 2017 Tax Act), I was suprised when using 2018 Turbo Tax to see the following: Which seems to state that the IRS is still working on how to ...
5
votes
1answer
212 views

Employer paid rent as part of income?

In 2017, my wife's employer paid for our rent as per her contract. The employer added this to her monthly salary. She received a 1099 at the end of the year. I considered this money income when ...
1
vote
2answers
43 views

Filing a 1040 after filing 1040 ES

I'm trying to plan my taxes for 2018 (note, I have already filed taxes for 2017). I have about $5K of short term capital gains that have not had any tax withholding during the time Jan 1, 2018 - Mar ...
0
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0answers
43 views

HSA showing as taxable income on TurboTax [duplicate]

Do contributions to my HSA that I make through a payroll deduction add to my gross income on my 2017 federal income taxes?
1
vote
3answers
92 views

Preventing tax underpayment penalty

I had some short term capital gains in 2017 which resulted in underpayment penalties both in my Federal and State taxes. I have about $5K in crypto-related short term capital gains for 2018 to report ...
7
votes
2answers
282 views

When you e-file your taxes with TurboTax, does Intuit get a copy of your personal information?

When you e-file your federal taxes with TurboTax's PC software, do the tax forms go through Intuit's servers, or are they submitted directly to the IRS somehow? i.e. do Intuit servers ever see a copy ...
2
votes
1answer
127 views

Didn't mark that I had a checking account for direct deposit on tax filing, will I have my returns rejected?

I submitted by taxes electronically through TurboTax and I realized that when I submitted my bank info in order to receive my returns via direct deposit, I didn't mark that it was a checking account ...
3
votes
1answer
160 views

What version of TurboTax to get

Last year I worked on a 1099 Contract for 4 months and a W2 Contract for 6 months. I'm not sure which version of Turbotax to buy. Actually I'm not sure if doing this myself is the best way to go but I'...
1
vote
1answer
55 views

State wages not from state where I was living

In my W-2 I have State wages from MA and corresponding state taxes were withdrew from my salary. But I lived actually in other state. When I completed taxes in turbotax, I thought it should ...
4
votes
2answers
915 views

RSU already included in W-2

My employer includes the bonus given as RSU on the W-2. How to correctly import the data from E*Trade (who manages the RSU and provides tax forms) into turbo tax (or any other tax software) so it does ...
1
vote
1answer
65 views

How to report paying having paid estimated tax?

On 12/26/2017 I paid x dollars to New York state as an estimate of what I owed for 2017. After going through the turbo tax flow, it shows my state tax balance as x. Is there any way to tell turbotax ...
2
votes
1answer
66 views

In what situations does tax preparation fees not count as a deduction on taxes?

Last year I filed my taxes through turbotax. This year I'm doing it again. There is an option to check if money spent on tax preparation (including tax software like turbotax) is deductible. I spent ...
2
votes
2answers
137 views

Tax refund disparity arising from TurboTax, relative to other programs (H&R, TaxAct, Credit Karma)

While I haven't received any of my tax forms for 2017, I can compute the values for each of the boxes based on past experience and available statements and pay stubs. My tax situation is fairly ...
0
votes
1answer
81 views

Why did Turbo tax provide me with form 1040 and Interest and Ordinary dividends attachment when I am filling amended tax return (1040X)?

I need to amend a return to include form 1099-R. For some reason TurboTax gave me three forms: 1040X, 1040 and Interest and Ordinary dividends attachment to form 1040. Why do I need the last two? As ...
8
votes
1answer
203 views

If I can be claimed as a dependent, what do I do without my parent's tax information?

I'm filing my 2016 taxes. Although I was not claimed as a dependent by my parents, I meet the qualifications of being claimed as a dependent. When filling out my tax return via TurboTax Freedom ...
2
votes
1answer
111 views

How do I report “rent” payments from a domestic partner in TurboTax?

I own a condo which I live in with my domestic partner. She pays < $1500 per year in "rent" which I use toward the HOA + property taxes. How do I report this income in TurboTax? I am not really ...
1
vote
0answers
36 views

Do I have to report all the assets my s-corp disposed of on my personal taxes?

My s-corp issued me a K-1 with a huge list of assets that were disposed of (not sold). They are reported in box 17 as "K* STMT" (meaning code K, statement attached). TurboTax is prompting me to ...
3
votes
1answer
155 views

Made more than $600. Company does not issue 1099-MISC's. Enter income as general income?

I made well over the $600 threshold to receive a 1099-MISC from the company. I contacted the company and they stated that "We do not send tax forms to any publishers". I'm using Turbo Tax Business to ...
39
votes
5answers
8k views

How to report $27 in cap gains affordably

I'm preparing my taxes using TurboTax's basic free tier. Last year I had $26.62 in realized long term capital gains. To report this using TurboTax, I need Premier, which is a $54 add on. Even in a ...
5
votes
1answer
247 views

Turbo Tax Reporting Income with No 1099

I use Turbo Tax for Business and I have already entered all the income I received from 1099 MISC. But I do have other income which does not provided any 1099. This includes Google Adsense, Apple ...
4
votes
1answer
2k views

Turbo Tax says return was approved, IRS refund status shows processing

After I e-filed my taxes through Turbo Tax, I signed up for the text notifications so that way I didn't have to keep checking the website/app. I got a text message saying that my return has been ...
1
vote
1answer
66 views

TurboTax - relevance of 1099-R if 401(k) came out of paycheck

I am doing my taxes using TurboTax (US). My 401(k) contributions were all on my paychecks, with employer contributions and my own contributions being accounted for in my salary. With that in mind, ...
4
votes
1answer
1k views

How do I reconcile income taxes withheld and remitted to the wrong state?

I work remotely from my home office in Atlanta, GA for a NYC-based company. I started at this company in 2016 and I just received my first W-2 form. My company uses Just Works as a professional ...
3
votes
0answers
76 views

I own a business but client sends W2 - what to do? [closed]

I use TurboTax to file my taxes. I own a consulting business and all of my clients (but one!) send me 1099-MISC forms. But one of them, on the advice of his tax advisor (something about liability), ...
1
vote
0answers
140 views

Tax return rejected, received a check

I filed my tax return in 2015 using TurboTax and received a check from both federal government and state. I am currently applying for a loan. When I downloaded the tax return statement (from ...
5
votes
2answers
749 views

Does TurboTax mail my state forms for me?

I just filed with TurboTax, and it mentioned along the filing process that my state taxes (for Idaho) have to be filed by mail, though they didn't show the forms to actually mail in. Does that mean ...
3
votes
0answers
37 views

I've made an addition to my home: how to I reflect the adjusted basis for home office deduction purposes?

For some years I have operated a home office, and taken the home office deduction. The home office deduction (at least prior to the introduction of the simplified method) mandates calculating ...
1
vote
1answer
449 views

non-resident alien e-filed using turbotax!

I am a non-resident alien and efiled using turbotax. Turbotax is generated form 1040-NR and a day after it stated that "Your 2015 Personal return was accepted!" The thing is everywhere mentioned that ...
3
votes
0answers
78 views

Independent contractor for a Canadian company with no 1099 for 6 months then under US payroll with W-2. What to do?

I am a US permanent resident and I was working for a Canadian company as an independent contractor for the first half of 2015 without any 1099s and they wire transfer my wages directly into my US bank ...
0
votes
1answer
551 views

More than 5 years in the US, under OPT, can I use TurboTax?

I have been in the US since January 2011 (I have been living here for 5 years and 2 months)-Technically, MORE than 5 years, I am currently working under OPT, can I use TurboTax to file my taxes? Thank ...
4
votes
3answers
151 views

What are some factors I should consider when choosing between a CPA and tax software

Its my first time filing taxes on my own and I need to decide between using some tax software like TurboTax or hiring an accountant. What are some factors I should consider when making this decision?...
5
votes
2answers
205 views

Hobby vs. Business

I do a small amount of tutoring. On my tax returns, I do not want to list it as a business because that makes my returns more complicated than they need to be and makes my tax prep software more ...
3
votes
1answer
273 views

What do I enter for my “2010 HSA, less 2011-2014 distributions” when my HSA started EOY 2011?

TurboTax is pretty insistent that I put something in this field, corresponding to the Wisconsin adjustments worksheet. The field says: Balance of HSA as of Dec 31, 2010, less amt distributed in ...
2
votes
1answer
106 views

Why is K-1 business income taxed at 50%?

I'm using TurboTax for my taxes (which of course are due tomorrow), and my wife's S Corp (50% owner) had a profit of roughly $14k, which they did not withdraw. It stayed in the corporate bank account,...
5
votes
1answer
2k views

TurboTax Made an Error - Should They Pay?

I used TurboTax to file my college-age daughter's 2012 tax return. TT said she was eligible for a $1,000 American Opportunity Credit. We claimed it and got no argument from the IRS. I used TT again ...
3
votes
1answer
340 views

Do contractors need to attach form 1099-MISC to their income tax return?

Is there a source stating that U.S. contractors who received 1099-MISC forms do or do not have to attach them to their federal or state return? My impression, after a bunch of searches, is that I don'...
3
votes
3answers
950 views

Tax payment has not appeared in bank account ~20 days after filing electronically with TurboTax. What to do?

I filed my taxes electronically with TurboTax on the TurboTax web site about 20 days ago. I owed an amount, but I can't see any tax payments appearing in my bank account now, about 20 days later. ...
2
votes
1answer
853 views

How do I enter my HSA in Turbo Tax Online?

I changed jobs last year. My old company offered an HSA and my new one doesn't. I used my HSA for medical expenses totaling about $700. There is still some money in it, I think. I'm not really ...
3
votes
1answer
1k views

Should the amounts in W-2 Box 14 appear in Box 14 in TurboTax?

I bought some company stock via ESPP and had my first bundle of RSUs vest. The amounts are both shown in box 14 of my W-2. However, I don't see any value imported into box 14 of my 1040 tax return ...
1
vote
2answers
1k views

Which 2014 TurboTax Edition Do I Need?

I'm having trouble understanding which version of TurboTax I need to do my personal taxes. I don't know if the online and CD editions are equivalent, but I'm planning on getting the CD edition since ...
3
votes
1answer
3k views

For TurboTax online's “Enter Dividend Income”, what goes in the “Broker or Payer” field?

I am confused by this field. Should I enter the company that actually issued the dividend or my broker's name?
4
votes
1answer
497 views

Do I need a Like-Kind Exchange when selling a personal vehicle for a company car

Last year, I started a new job which afforded me the convenience of a company car. When receiving this car, we sold our personal vehicle to the dealership when we picked up the company car. My tax ...
2
votes
1answer
2k views

Where does my IRS Form 8582 line 16 get reported?

I am using TurboTax and I have a form 8582 Passive Activity Loss Limitations wherein I have a positive value on line 16 that represents a passive loss from real estate activities. The form itself ...
1
vote
1answer
84 views

Stayed outside USA for 2 months: Does that reduce the taxes?

I have lived in USA for over five years now and hence I am now counted as resident for tax purposes. Previously I used Glacier tax software which used to ask me how many days of the year I stayed ...
5
votes
4answers
22k views

Is it worth it to buy TurboTax Premier over Deluxe if I sold investments in a taxable account?

I sold investments in a taxable account in 2013, include shares from an employee stock purchase plan (ESPP). I have always used TurboTax and am planning to again, but I'm trying to decide which ...