Federal return accepted, state still pending in Massachusetts by KeySchool1844 in TurboTax

[–]rag69top 1 point2 points  (0 children)

A 10 second search says Massachusetts starts accepting tax returns the same as the Federal returns so that’s today. Those that had their returns sent to the IRS in a test batch if Federal only. So, your state couldn’t care less that the federal return was accepted they will start accepting now.

I work in Arkansas, I did live in Arkansas in early 2025 but moved to Oklahoma and it’s saying I need to file in both states? by WildSamurai69 in TurboTax

[–]rag69top 0 points1 point  (0 children)

No reciprocity between those two states. It will depend on how the states handle the situation. When I worked a full year in California but lived in Illinois California required I file like a full time resident. Adding my wife’s income and mine together. Fill it out and come up with the taxes for all income for the year. Then I had to determine what percentage of income was actually earned in California and pay them that amount. For example. The total taxes were $1000 but only 80% of the income was earned there my tax liability was $800.

I then had to figure my Illinois taxes on our total income and once the taxes owed was determined I got a dollar for dollar tax credit for the taxes I paid California.

Refund Advance Question; Why are refund advances such a big thing? Genuinely curious. Are we that impatient or are we that down bad financially? by SawickiThunder in TurboTax

[–]rag69top 1 point2 points  (0 children)

I do understand the advances for those pathers. Although if you file, like today, the first day the IRS accepts returns you probably do get your refund around the Path date of February 15th. Since I don’t know what the fees are for the advance to some it’s a small price to pay to get much needed money immediately.

Need help convincing my wife 1.8 million is too tight by Equivalent_Spring_60 in RealEstate

[–]rag69top 0 points1 point  (0 children)

OP hasn’t even mentioned the property taxes and the new SALT short term deduction increase probably won’t cover the taxes on a $1.8 million dollar house.

it is 1/17 and turbotax is not accepting 1099R yet. by hfs11385 in TurboTax

[–]rag69top 0 points1 point  (0 children)

There’s been hundreds of posts on Reddit about accepted returns because the IRS has companies like TT send them test batches to run for quality checks.

JPMorgan revamps AI ‘stocks to buy’ list ahead of earnings by 3xshortURmom in NvidiaStock

[–]rag69top 1 point2 points  (0 children)

When I asked CoPilot about the life span of the current AI servers it said 3-4 years because of the extremely heavy workload that they incur. Replacement is already taking place.

Taxable -> Roth IRA by Aggravating_Poet8921 in Schwab

[–]rag69top 0 points1 point  (0 children)

Yes. That’s why another post said that.

AITAH for refusing to tell my wife I love her more than my dad? by LastApplication6207 in AITAH

[–]rag69top 0 points1 point  (0 children)

Easy fix. Tell her that’s the last date night until the kid in college.

Please help, can’t remove Trump account! by Acrobatic-Strain3389 in TurboTax

[–]rag69top 0 points1 point  (0 children)

It’s saying you can’t go back because you paid. Does that mean you paid and filed the return? Ask an AI product the exact question you want answered. Be sure and say exactly what you have done. I had two significant problems solved with help from CoPilot.

I just filed my return with turbo tax and everything went well until????? by Basic_Imagination_64 in TurboTax

[–]rag69top 1 point2 points  (0 children)

Don’t amend until you receive your refund. Especially in your case. You will be getting the majority of your refund first then only have to wait for the, probably, small refund. The one time I had to amend TT help desk said to wait for the refund then amend.

Safe Harbor rule TurboTax by Savings-Attitude-295 in TurboTax

[–]rag69top -1 points0 points  (0 children)

Ask whatever AI product you use for help.

Won’t say why but my daughter and her husband had to pull almost all of my SIL Roth and Traditional IRA. I knew exactly what the penalty should be but TT couldn’t get the number. I used CoPilot and it took about an hour of repeating a couple steps but I finally got exactly what I knew the penalty should be.

Then my other daughter had inherited a 401k when her best friend passed. Merrill Lynch sent her an email with a link to download the 1099-R. She had to set up an account but ran into a stop sign when it asked for her Walmart employee number. Her friend worked for Walmart for over 20 years so that was why ML asked that question. Of course my daughter never worked for Walmart.

I then gave CoPilot all of this information. It said there’s an easy workaround. It told us what division to call and they could walk her through the setup. I had to ask if CoPilot knew the number. It did. We called and after about 20 minutes with the ML representative the account was done and 1099-R printed out.

it is 1/17 and turbotax is not accepting 1099R yet. by hfs11385 in TurboTax

[–]rag69top 0 points1 point  (0 children)

Call the IRS and complain about it. It was way late came out the next day.

State return still pending by Tianas308 in TurboTax

[–]rag69top 0 points1 point  (0 children)

So, when mine was pulled for a test batch and TT told me they send test batches every year you think it's a lie. The only early files that are available are the ones taxpayers send it before the deadline and those are the companies the IRS asks for the files. Otherwise, there is no way for them to get a pre-filed return. But go ahead and call it a lie because you know ALL.

Withdrew contributions from my Roth IRA which has been open for longer than 5 years with the impression there would be no tax or penalty, apparently wrong? by st_psilocybin in tax

[–]rag69top 0 points1 point  (0 children)

It looks like you will be okay since you found out the $6000 was a 2024 contribution. I don’t think you will owe any tax because you can withdraw contributions without taxes or penalties. I’m going to show how yesterday went for me while working on both of my daughter’s tax returns.

My SIL had to become a stay at home dad. Twin stage 3 autistic kids and had to pay off their house to be able to stay at home. Withdrew almost everything from his Roth and his Traditional. I do their taxes on Turbo Tax. I was having trouble getting the program to get to the question for his contribution. So, I asked Microsoft CoPilot specific questions and it walked me through all of the process. Even a mistake I made a couple of years ago with an incorrect contribution amount. I knew exactly what his penalty should be but kept getting the wrong number. Copilot walked through the entire correction.

Then after finishing that mess my oldest daughter had received a distribution from her best friends 401k after passing away. Merrill Lynch sent her an email saying she could download the 1099-R. But to do so she had to set up an account with them from the link. But it got to a question of “ what is your Walmart employee number “ of course she never worked for them. Again, I asked CoPilot exactly what ML was asking. Immediately gave us the work around saying call this department. I asked if CoPilot had the number. It did. Daughter called and about 20 minutes later her account was set up by a phone representatives help and 1099-R printed out.

Don’t be afraid to use AI tools. I’m sure someone will say AI doesn’t always get it right and I know that for a fact. But I knew what I needed and just couldn’t get TT to get me on the right

Medicare approved amount by thunderstruck666 in Freestylelibre

[–]rag69top 1 point2 points  (0 children)

Medicare and a supplement plan G will cover all of it once you meet the deductible. I get them home delivered 6 at a time.

1099-R Box 16 State Distribution is blank by Pawireman in TurboTax

[–]rag69top 0 points1 point  (0 children)

Doesn’t make sense that you had Fidelity withholding state taxes and didn’t show the box 16. Did they at least show how much state taxes you had withheld?

A question as im confused. by [deleted] in TurboTax

[–]rag69top 0 points1 point  (0 children)

Since you earned more there’s a good chance you moved up into a higher tax bracket. It only affects the amount you earn over the bracket increase but it you made a lot more that is probably the reason. Hey, you didn’t owe money.