Questions tagged [turbotax]

For questions about using Intuit's TurboTax software

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0answers
28 views

Question regarding reporting medical insurance, interest income and my address because of part-year stay in the US

I am seeking urgent assistance with my US tax filing (with TurboTax) for 2018 concerning part-year residency. I lived in the US between Jan-August and left the country for good thereafter. Keeping ...
0
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0answers
44 views

OPT student accidentally filed taxes using TurboTax [duplicate]

I'm an F-1 student that accidentally filed my taxes using TurboTax. According to this forum, I need to file 1040-NR with a 1040-X attached to amend what I already filed using TurboTax. I tried ...
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1answer
195 views

Does New York State law require me to e-file if I use TurboTax?

If I use Turbo Tax to prepare my taxes with locally installed software, and specifically Turbo Tax with New York State, to prepare my returns, am I permitted to file my returns by mail and paper, or ...
1
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2answers
54 views

How can I distinguish ordinary dividend from qualified dividend for when reporting amounts related to foreign financial assets in Turbotax (US taxes)?

How can I distinguish ordinary dividends from qualified dividends for when reporting amounts related to foreign financial assets (= hold in non-US brokerage accounts) on the Turbotax website when ...
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0answers
21 views

Which tax credits are calculated in proportion of time of residence in Canada and which are not?

I became a Canadian resident in 2018, having spent 260 in Canada in the tax year. I've read some official guides, and examples there instruct to prorate federal credits to time of residence in Canada. ...
2
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2answers
149 views

Do I have to pay estimated taxes?

I had a financial windfall in 2018, pre-paid taxes to account for this, and ended up getting a refund. Turbotax included several 1040-ES forms for paying estimated taxes for 2019, I assume based on my ...
2
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1answer
67 views

Download tax return before filing to show to accountant

I like using turbotax to gather my information, but I'd like to work with my tax advisor to review what I'm filing before actually submitting the return. Is there a way for me to show my tax advisor ...
1
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0answers
88 views

Corrected 1099 resulted in less income, but now I owe more

I submitted my tax return weeks ago. And it has since been accepted. However, this morning I received an updated 1099 from my brokerage which resulted in a $1 difference (rounded). $1 dollar less ...
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1answer
76 views

I don't have a 'I'll enter additional info on my own' button for correcting the cost basis of a stock sale on TurboTax online

The help section of TurboTax says that to enter the corrected cost basis of a stock sale, I need to click the 'I'll enter additional info on my own' button, but I don't have this button.
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2answers
3k views

Should I choose Itemized or Standard deduction?

I see I am saving more when I choose Itemized deduction, even though its less than standard deduction. Is that normal? And in this case should I choose itemized and disregard recommendation of Turbo ...
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0answers
37 views

How do I file an inheritance on my New Jersey tax return?

I inherited a bit of money from a grandparent that passed away last year. New Jersey has an inheritance tax but from what I looked up close family inheritance is not taxable. I want to make sure ...
3
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1answer
71 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
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1answer
215 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
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2answers
77 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 ...
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3answers
109 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 ...
8
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2answers
565 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
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1answer
132 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 ...
2
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1answer
163 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'...
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1answer
64 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 ...
5
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2answers
3k 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
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1answer
67 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
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1answer
68 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
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2answers
148 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 ...
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1answer
102 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
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1answer
217 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 ...
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1answer
146 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 ...
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0answers
41 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
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1answer
185 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
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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 ...
4
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1answer
294 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 ...
3
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1answer
4k 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
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1answer
70 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
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1answer
2k 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 ...
1
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0answers
141 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 ...
4
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2answers
833 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 ...
2
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0answers
44 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
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1answer
637 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
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0answers
92 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
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1answer
743 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
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3answers
162 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
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2answers
229 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 ...
2
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1answer
403 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
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1answer
116 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
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1answer
3k 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
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1answer
452 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
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3answers
1k 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
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1answer
1k 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
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1answer
2k 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 ...
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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
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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?