Economic Relief Legislation | TurboTax® Support

Tax law changes

Today the President signed the Inflation Reduction Act of 2022 into law, which includes new tax provisions, extensions, and expansions of tax benefits related to energy efficiency and healthcare. Here are some resources to help you understand the pro... read more

i could't e-file because i had zero 1040 income only 1099-nec income

this information was news to me, but it did prevent me from e-filing according to tubotax. I've been searching for clarification and am empty-handed respectfully. the edition is premium but I can't seem to locate the option to tag my post as such.

Plasma Donations

Can you claim expenses in plasma donations? Such as gas, time, food, etc…

$16000 loan for Furnace and air Conditioner replacement which encompasses the home office. Do i take the entire amunt as an asset or a home repair? any suggestion would be appreciated..

Waive underpayment penalty on repayment of excess 2023 Premium Tax Credit?

I received advance payments of the ACA Premium Tax Credit in 2023, but the amount advanced exceeds the amount I can actually take. Repayment of the excess credit is triggering an underpayment penalty (otherwise I would not have a penalty). Can I requ... read more

Do I need to file FBAR with 1 foreign bank account having a balance of less than $1000?

I have only 1 foreign bank account having a balance of less than $1000. I read on this forum that FBAR is required only of foreign account(s) have a total of over $10000.But I see the form 1040 has this section:Q1) So here do I say Yes or No ?If I sa... read more

Company pays with Paypal and sends 1099-NEC each year. What will happen when issued 1099-K for same amount?

I receive a 1099-NEC every year from a company for book royalties. The company pays me monthly via Paypal. What should I do next year when I receive a 1099-NEC from the company and a 1099-K from Paypal for the same amount? I'm sure there will be many... read more

reporting sale of foreign property (second home) in Turbo Tax Online

Sold a Foreign property (second home) and need help with some tax filing questions. * Can a capital loss in foreign tax filing ( india) reflected in US tax return?? I assume NO.. Even though, it was reported as capital loss in the foreign tax return,... read more

Married but have been filing single for the last ten years or so

I am Married but have been separated from my husband for over 10 years, and have filing single for the years we were apart. My Husband and I are back together and I'm considering file Married jointly this year, even though, I've been filing single an... read more

Arkansas and IRA QCD's

My 2021 Arkansas Individual Income Tax Return has been reviewed by an Arkansas State auditor, and I was required to file an amended Arkansas Return to include our total IRA RMD's as income on Lines 18a and 18b of Form AR2 and the IRA QCD's on Line 13... read more

solar panels

I purchased energy efficient solar panels from Sunrun company. They also installed the solar panels for my home. I am paying month payments for the cost. What would be the deduction amount I can claim for 2023 tax return?

Where to report amounts in K-1 footnote: reduce 1231 gain, increase1250 gain, step up depreciation not reported

I received a final K-1 with the note at the bottom of this post. The partnership sold assets, made distributions and dissolved at the end of 2023 so this was not done via a sale. I am not seeing any location to make these adjustments. How does Turbot... read more

Final K-1 Question

We received our Final K-1 for a limited partnership that we had invested money in. When entering the information into TurboTax, I selected "This partnership ended in 2021." The next page asks:Choose how you disposed of this partnership/LLC. Do I choo... read more

TurboTax Form Edit Update Causing Federal Refund Delay

have always used TurboTax for my taxes, but this year it has caused me an up-to 120 day delay in receiving my federal tax refund. Here was the issue. I did my taxes (in TurboTax) in early February, and as a result of getting a nice, needed refund, I ... read more

Vastly incorrect AGI from previous year

While working on 2023 return I noticed that in summaries and recaps throughout the app, it shows my 2022 AGI as $165,000 when it was actually 105,000. It shows the other related figures (tax liability, Tax rate, etc) all incorrect, reflecting the dra... read more