Oh my god I just wanna thank you from the bottom of my heart for making this. Thank you so much Becca! I’m 19 and I don’t know how to do taxes, I never received any sort of help from my family and parents for this. This was sometning I dreaded for for a long time as I had to learn everything alone and it seemed so terrifying and dreadful. Seeing a full worked up tutorial showing what to do eases my stress so much. Thank you so much and thank gosh TH-cam exists.
Ha! A decade ago, I was lucky enough to have someone teaching me. Glad that we’ve got TH-cam these days for every single thing we have questions about. Happy to help. Lastly, WOO-go you! Get your taxes done and out of the way. Cheering you on from the sidelines. 🎉🎉🎉😊
Just a quick glance at this comment section before I watched the video and I LOVE that you respond to everyone. Amazing. I haven’t filed my taxes myself in many years. I think this is the year I start again. Thanks.
Aw, thanks! I sometimes miss people, but hope I get most of them. People are here because they need help, and I wouldn’t be much of a resource if I didn’t respond. Glad people are so interactive on here! Good luck with your taxes! Reach out with questions.
Thank you so much I just turned 19 and I’m very independent when it comes to these things and you really helped me out with this I feel so much more comfortable with this and I get anxiety thinking about doing this every year but I feel more eased with you explaining it thank you so much !!
I’m so happy for you. That’s a lot of money! Be sure to check out my newest video in case anything has changed. Good luck this tax season. Reach out to me if you have questions.
Great info ! Sick and tired of low federal refunds and spending $$$ on someone to fill out my forms. Losing money because of preparer fees plus she is retiring soon and I have made the decision to start doing this for myself.......finally. Plus a co worker said she uses TurboTax so I am diving in and seeing what I can do this month.
Thank you Becca! I just want to make an update on the 5:19 "Review and Sign" slide. TurboTax is now requiring users to sign their names before continuing to the next step.
Thank you so much for the best tutorial on YT! You provide a great overview with such expertise, knowledge, professionalism and humor. Love the gifs as well! Appreciate your attitude, personality and in general, the way you provide such useful and helpful info. in a friendly manner. The outstanding videos you post are very much appreciated!
You’re so sweet! Thank you for your encouragement and feedback. I appreciate your words. Love knowing that I’m helping someone out there! Good luck to you this season! Reach out if you need anything.
Take a look at cash app taxes too if you’re located in the United States. I filed my own taxes for free using cash app taxes this year. Great option for someone who has used in online system before and knows how to navigate their taxes.
@@Trex505shorts to help my family out, I always check in whenever we have big changes, and I use the IRS’ W-4 estimator. Basically, this tool shows you how much you have already paid in taxes, and what your estimated taxes are going to be. Let’s say use do this in the middle of the year, and you see that you are going to beginning a large return back. If at this point, you need more money on a weekly basis from your paycheck, then you can lower your withholdings. If you do this and see that you are going to owe a lot and don’t want to pay that much when you file taxes, then you can increase your paycheck withholdings so that you’re paying a little bit every paycheck rather than one huge sum at the end, when you file your taxes in the new year. Here’s the link to their tax estimator: www.irs.gov/individuals/tax-withholding-estimator Obviously, a lot of things can change - new laws can be passed, but it can be a great way to see where you’re headed as tax season gets closer
@@Trex505shortsyeah, because the government has no idea wtf to give back. Ever notice how almost everyone owes money last year? Maybe it all had to do with Covid and all the money they had to fork out 🤔…
This was sooo helpful. I got to the end and saw my returns and was about to file but I couldnt cause I had to pay😂😂-. I was apparrently using the deluxe version. Gonna do it over again using the free version because my whole point of learning to do it was to not pay for it to be done. Hope there is a free version. Thank you sooooo much. Also, I didnt see a part where they asked for bank account information to refund the money. Is that done after filing or what?
So glad it was helpful! Thanks for your feedback! Congrats on doing it on your own, too!!! There is a free version, but, depending on what you are trying to claim, and the types of assets that you have, you may not be able to do it for free. Usually the free version is for people with very basic tax returns. You can go to this link and scroll to the bottom. It will tell you what qualifies for free filings and what would require an upgrade to a paid version: turbotax.intuit.com/lp/ppc/2958?srqs=null&cid=ppc_gg_b_stan_all_na_Brand-BrandTT-BrandTTFree-Exact_ty23-bu2-sb8_683555754655_142950093519_kwd-354495957291&srid=Cj0KCQiAqsitBhDlARIsAGMR1Rgydrz7SlLyhs-JVdGi5oWQCXb_Gl80Fx7oWTC5lrNDuRp9D6DyRigaAvLUEALw_wcB&targetid=kwd-354495957291&skw=file%20for%20free%20turbotax&adid=683555754655&ven=gg&gad_source=1&gbraid=0AAAAADkGAVmbtg1RJNGKAzZUj1PQ4NCny&gclid=Cj0KCQiAqsitBhDlARIsAGMR1Rgydrz7SlLyhs-JVdGi5oWQCXb_Gl80Fx7oWTC5lrNDuRp9D6DyRigaAvLUEALw_wcB&gclsrc=aw.ds As for the bank account information- that actually comes after you pay for the return. Also, it only happens if you get a refund from the IRS. In other words, if you are getting a refund and you have already paid for TurboTax fees, or qualify for the free version of TurboTax, then you will be taken to the refund options to route your refund to your bank account. Reach out if you need more help !
Had to come back and thank you. Followed your steps and advices and my tax got accepted so my returns are on the way. Thank you soooo much. Can’t believe people are paying $120 usd and more for people to do this for them. You are a gem!
This video is great! I've watched since last year on how to file my own taxes. I recently got married and am wondering what the best options are. Filing jointly or separately. Would love to see a video on the differences and benefits of both! Great video!
I don’t have one as of now, but did find this great resource for you! Maybe I’ll make one this year. Thanks for the feedback and for coming back! turbotax.intuit.com/tax-tips/marriage/should-you-and-your-spouse-file-taxes-jointly-or-separately/amp/L7gyjnqyM
You are awesome. I am going to do my taxes myself this year , first time. I am 58 and lost my husband 4 years ago and have no dependents. Your video is very helpful and the first I saw on doing taxes yourself so feel better and confident. Last year my tax consultant took my W2, put the information in and while I was there he just filed it in a minute and I paid him$100. AND I owed money. I am not sure why I owed, but since my husband’s death I had not changed my W4. Would it because my marital status wasn’t updated from married to single,it could be because of that? This is all a lot and sometimes overwhelming. Hope your videos will help first timers. Keep up the great content and I will be watching all your video’s.
Thank you for all your kind words and feedback! Appreciate you. Glad you’re taking charge and filing yourself! Hope it goes well for you this year. Reach out with questions. W4: yes. This could be why you ended up paying more in taxes at the end of the year to catch up. Whenever your life situation changes, it’s good to update your W4-whether you get a raise, become single, or have a dependent added. Always make sure that’s up to date. You can even use the IRS’ withholding calculator throughout the year to make sure that you’re paying enough. It gives you guidance on how much/how to change your W4 form. Check it out here: apps.irs.gov/app/tax-withholding-estimator
I have always used a tax preparer but its been getting more & more expensive. Would you recommend TurboTax for someone with multiple rental properties?
If you keep good records, it’s a good option for you to report that income. I can get complex, so if you don’t know how to do your taxes, or don’t have time to come, then it may not be a good option. It really depends on you, your ability to learn a little bit of technology, and the kind of records you keep for all of your mental properties. Also, it may be good to consider how much you paid for a tax repair versus what you would pay for TurboTax.
It says on their website that if you bought the 2024 version, it should be included: turbotax.intuit.com/personal-taxes/irs-forms/ You can search for forms on that link. Try typing for it in the search bar of your desktop software. If you are using the online software, you just use the search bar to look for it, and then “jump to” it to begin completing it.
Hi thanks a lot for showing us how to file one's own taxes. I did my own this year. I have a question. How to modify or add 1098 info after I already filed? My younger sister took professional help this year but did not add 1098 info. I don't know whether the professional used TurboTax for filing. I would appreciate any guidance. and also does it need to be done before the due date?
In order to add a 1098 to a filing that has already been submitted, you would have to file an amendment. The easiest way would be to find out what program she did use, and if it is a program program, she can access like H&R Block or TurboTax, then to submit an amendment through that software. Another option would be asking that professional that helped her do her taxes to submit an amendment on her behalf. Worst case scenario, you would have to either manually fill out the amended tax return form (1040-x), or re-create her tax filing through one of those software, selecting “mail in” when it comes to the transmit screen, and then creating an amendment from that filing created on the software. This last option would require you to select “mail in” because you really really only want to create the filing in the system that does not have that filing yet. Because she has already submitted it to the IRS, you would not want to electronically submit the same return. Once the return is created in the software, you can use that duplicate “fake” filing document to create an amended return.
You can choose one of three ways: Their app on the phone, the online version, or you can purchase their software from a vendor (like Staples, Sam’s Club, Target, etc.). It’s really up to you on what you’d like to do. My tutorial walks you through the online version, but the other versions will be similar too. Send me an email if you have any questions! Good luck this season!
I don’t for TurboTax, but to add dependents, just use the search bar and type in “dependents”. It’ll let you “jump to” dependents and add your dependents and then bring you through corresponding screens thereafter.
Really appreciate the video Becca. I do have a suggestion. I don't really think you can slow your rate of speaking because you mentioned you were aware of it and were trying to slow down but didn't or couldn't. I think you're just wired to talk fast. . But I found if I go to settings on TH-cam and change the audio speed to .75 it's a perfect speed. You may want to suggest it to your viewers. I was getting a headache trying to process all this new info at real speed but the change to settings did the trick.
That’s in a later screen. You input the payment info for TurboTax and then they’ll ask you afterwards how you want to pay for your taxes. Did you move on to the next screen and see that?
No because they wanted me to submit a payment for their "free"tax filing first. I thought they were going to just take that payment for their services and then dip lol.@@everydaywithbecca
I have done turbo tax for many years and there has always been a little calculator for the federal and state return amounts (usually near the top) to help keep me updated on how everything that I am imputing affects my return. I can’t for the life of me get that to pop up. Is it gone? Do you know how I can locate the calculator? It was so handy to have and helped me understand how everything that I input was impacting my tax numbers.
Yes, I saw it on your screen. I still can’t figure out how to make it appear on my screen. I have tried so many things. I’m wondering if maybe using my iMac is causing issues or maybe my slow internet isn’t allowing the page to fully load. Idk what the problem is, but I can’t get that feature to appear on my screen. I am well into inputting my deductions/credits, so there should be enough info for it to pop up. (Also, a huge thank you for replying to me on this😊)!
Thank you for this tutorial. This is the first year in some time that I am doing my own taxes and I have found your approach empowering. At what point could you have avoided going to the Deluxe package? Also, do I need download my tax forms from last year in this year's filing? Thanks!
At a certain point, you may not be able to avoid upgrading. For example, if you have investment gains, this would require an upgrade and be required to be reported since its income. However, if you have a simple filing and don’t want to input other deductions that would require an upgrade (non-cash donations/cash donations to a charity) that would technically help you, you could choose to not include these to avoid an upgrade, knowing that they may help you in terms of deductions. That sounds complicated-TurboTax, actually offers a quick check for you to use to see how much you’re estimated to pay in costs. Check it out here before filing and see if TurboTax is an option you want to explore: turbotax.intuit.com/personal-taxes/compare/online/ Also, check out my video regarding tax services this year. You might find a better fit in that list. Video is here: th-cam.com/video/qkL3rSggeVk/w-d-xo.htmlsi=G62JgKdeuiVWnjFS
I don’t show you in this video and don’t have one right now, but if you use the search bar on TurboTax when you’re logged in, and type in “dependents”, you’re able to add them there. Individual information on each and a few answers to questions about their living situation. Or, if you prefer you can go to “my info” and it’ll take you to your basic info and the option to add dependents. At the beginning of this video, on the Home Screen where I put in my info, I don’t click the “I have dependents” button. When you’re starting, make sure that you do click that so that TurboTax will allow you to add them in.
Hi Becca, I'm confused right off the bat. Maybe I missed the first step in a previous video. You said "go ahead and create a turbo tax account", but you did not explain how to do so. I am assuming that you have to purchase the software, then load it on to your computer and follow the software instructions which will tell you how to set up the account.
My tutorial goes through the online version. If you choose to use the online version like shown in this video, you just use your email to set up an account on their website. You don’t have to pay until you file. On the other hand, if you choose to purchase their CD software, then you have to buy that at the store, load it onto your computer and then begin your return. Depending on the version that you buy from the store, you can file up to five federal returns, one state return without paying more than what you paid at the store. The only time you would pay anymore is if you owe money to the IRS itself. TurboTax would not charge you anything else for the filing.
I have TurboTax Free / Basic edition for three years now, and this is the first time I will do it on my own 😐. But after seeing this, I should be able to do it. I only have just the W-2 from work and a 1095-A form ( I have Covered California / LA CARE as my health provider ). Let's say if I do them halfway, will the information be stored or do I start over? I don't get paid again until March 9th and that'll be the time I will put some money in my account to cover the costs, but in the meantime, I'll watch your tutorial to see how it's done. Do I have butterflies doing this on my own for the first time, yes, but I'm sure I'll get it hang of it. Besides, it's usually my luckiest month, March is, my b-day is exactly ONE month from now today, and I can sure deserve a great birthday gift than my returns ( I'm 53 BTW, shouldn't be too 😬 doing this ), so thanks for posting this. Thanks 😀!
Amazing! So excited for you to start doing this on your own. If you are using the CD desktop version, you will have to manually save so that you don’t lose the information you’ve put in. More info here: ttlc.intuit.com/community/taxes/discussion/saving-a-work-in-progress/00/1254711/amp If you are using the online version, it will save automatically for you, so that when you login, you can jump right to where you left off. Good luck and reach out if you need more help !
@@everydaywithbecca Hello... again ☺️! After watching your video three times overnight ( I was off today ), I went onwards to file, thankfully, my aunt was nice enough to send me $120 to go ahead and get it out of the way ( I don't get paid until next Saturday 😐, so THAT was a BIG help for me ) and it really was EASY to do... almost forgot to put in my work W-2 info, but I made it. Thanks for posting this video, almost had butterflies, but mission accomplished. The IRS accepted both returns three hours ago, so, I'm looking forward to both returns..... happy early birthday to me!!! Let's just say my returns are much better, WAY BETTER than last year ( around about $550 combined 😕... ). Aaaannnd I did it on my tablet, had to pause it for the funds to arrive in my checking account though, thank you once again! Now I'm done ☺️🎊!
@@ghanaking5255 good! Glad you got it out of the way and your aunt was nice enough to loan you some money. What a blessing. Good luck the rest of the season! Reach out if you need more help!
Hello, I need some help. I live in Illinois and work in MO. Last year I worked in the office 3 days a week and worked from home 2 days per week. This year on my MO state tax there's a field to enter Remote work amount. How do I calculate that amount?
I’d suggest you ask your workplace to issue an itemized statement of some sort showing your pay for in-office office hours vs. those remote hours. MO would be taxing the hours worked in office. Here’s a site that follows a forum regarding MO and remote work: ttlc.intuit.com/community/state-taxes/discussion/remote-worker-non-resident-tax-question/00/3178640#:~:text=If%20you%20were%20a%20full,file%20an%20MO%20tax%20return. It’s not exactly your situation, but it doesn’t mention MO can’t tax for hours someone works not in-state.
Thank you so much for the great tutorial, and please I will try doing by myself this year for first time. So, I am married having two kids. Is it better to file joint married or married filling separate? Us there is difference between turbotax online website and the software version?
It depends on your financial situation. Then it’s breaks it down here: turbotax.intuit.com/tax-tips/marriage/should-you-and-your-spouse-file-taxes-jointly-or-separately/L7gyjnqyM You can filing either way, but only one of you can claim the kids-each kid can only be claimed once. TurboTax online requires that you pay (unless you have a simple return that’s free) per federal and state filing. The desktop version only requires you to pay once for up to 5 federal filings, and then any fees for your state filing. The real difference comes down to having your information online with their online version, versus having it stored on your computer with the desktop version. Some people feel more secure without putting their info on tuebotax’s online servers. Some people also have to filing more than one and so they prefer to just get the desktop one instead of making a new account for each filing online (if you need one, if your wife files separately, and if your kids are old enough to be working and need to file as well). Send me more questions that you have!
My school issued us incorrectly an 1099NEC for an education stipend (cost of living). We were only interns and we were not contractors nor independent. Where do I input this total correctly. Its taxable ince as they did not take any taxes out. Im not filing the amount as an 1099NEC.
If you haven’t filed yet, Search for 1099NEC and enter it. If you’ve already filed, you’ll need to amend your return and enter in the new one and the same way.
Thank you for sharing. I have a simple but serious question. If I quit my job and I don’t have any income for full year, do I have to file tax or do anything?? I’m worried.
You cannot add a previous year’s W-2 to the current filing. Did you file for 2023? If you did, you will need to make an amendment. If you did not, then you will need to file for 2023 separately from 2024.
I haven’t used the cd version since I was 16. My parents really likes using the cd because they didn’t trust the online system to keep their information secure. I prefer the online version in general but I also like to have easy access to my things all the time and only file one return from my family. The online version only allows you to file one federal return per account. If you are helping a family member file their return, they will have to make their own account. The CD allows you to file multiple returns. Here’s a full comparison: ttlc.intuit.com/community/taxes/discussion/what-are-the-differences-between-turbotax-online-and-turbotax-desktop/00/723206/amp
This is the first time i am filing my taxes in the USA as a new immigrant now working... I was directed to Turbo Tax by a friend so am hoping to do it Successfully, Any advice please???
Take your time and make sure to double check everything. Don’t file until you have all of your documents. Lastly, if you get a refund, make sure you get your bank account in correctly and print/save copies for yourself. Lastly, reach out for help if you need it!
Thank you so much for your explanition and helping me, I love your confident. I also I enjoyed watching your video thank you ssooooooooooooooooooooooooooo MUCH
@@everydaywithbecca No I went to staples to go and buy it for the first time. They had different ones as I pointed out and I didn't know which one to chose. I think I should go with the deluxe one, because I am not running a business or stocks or anything like that ? which one would you suggest? or do you suggest buying it online?
@@Bytekin101 you can purchase it at the store; it’ll work similarly-some people just prefer the security of a desktop software. This article helps explain the products and who should buy what: www.cnet.com/personal-finance/taxes/turbotax-review/#what-products-does-turbotax-offer
I would look at the bill to see if you’d be someone who qualifies. It has a lot to do with income levels, and if you believe it would affect you, then I’d wait. To be safe, you can wait altogether, as it could still change in general. If you end up filing up early and have to amend, I do have a video on amending. Check that out or send me an email if you need more help in the future. Best of luck to you this season!
Your show got me into TurboTax. I try to buy a CD software but just realize that my desktop has no CD connection. Is there any other way to download the CD to my desktop, which I prefer to start trying TurboTax? Pls kindly advise, thanks! Lily
If you already bought the cd, you can get a cd adapter for your computer, or return the cd (not sure if that is possible), and use the online version. The online version requires payment per filing.
When do I enter my property tax? Does Turbotax bring it up in the filing when I chose the category "Own a Home" in "Tell us a bit about you" section? Thanks Becca!
You can easily search for 1098, or search for “property tax”. More info here: ttlc.intuit.com/turbotax-support/en-us/help-article/tax-credits-deductions/enter-real-estate-property-taxes-turbotax-online/L2bHCVCh7_US_en_US
Very helpful video, this is my first time filing my taxes and I need help figuring out if I should file my social security pension that my father left me when he passed. It would appreciate it a lot.
It depends on the benefits and your total income. IRS website: www.irs.gov/faqs/social-security-income/survivors-benefits/survivors-benefits Investopedia makes it a little easier to understand: www.investopedia.com/ask/answers/102814/are-social-security-survivor-benefits-children-considered-taxable-income.asp#:~:text=If%20survivor%20benefits%20are%20the,are%20not%20responsible%20for%20taxes. You should receive a 1099 from social security and use this for reporting. Send me any other questions!
If you paid rent, then yes. You will need proof of rent paid though. If you didn’t pay rent, then no. Also, make sure that they aren’t claiming you as a dependent. If they claim you, then you have to mark down that you are claimed as a dependent.
I don’t deal with this often, so I did some digging: Investopedia states: “Reinvested dividends are treated as if you actually received the cash and are taxed accordingly.” www.investopedia.com/ask/answers/011215/if-i-reinvest-my-dividends-are-they-still-taxable.asp#:~:text=Cash%20dividends%20are%20categorized%20as,cash%20and%20are%20taxed%20accordingly. Pay attention to what your 1099-DIV stated and enter it correctly in your taxes.
I’ve always opted for TurboTax, but everyone has their own preference. H&R Block, TurboTax, and tax slayer are pretty similar in their platform and ease.
The part about at minute 5.35 with "review and sign" - I don't have an option to skip it. However, I want to know what it is really asking for - because I understand it needs my consent to do the work of preparing and submitting my taxes, but the fact that I can deny it makes me wondering what it's truly asking. I'm under the impression that it's not just a place to save the work done on my return. Would love your thoughts on this, thanks!
Did some digging-TurboTax is asking for your permission to collect your data and share it with the IRS as a vendor/party on your behalf. In the event that you don’t finish your return, it’s asking if you allow them to keep this info on file in the interim prior to filing. It’s my understanding that they need this permission in order to store your data and eventually file your return.
Hi, I have used free turbo tax in Canada for a number of years. This year I have a couple of medical expenses and several transit monthly passes to claim and it wants me to upgrade to input that info. I do not know how...my mom gave me a key code for Standard version.
TurboTax is starting to charge more and more for upgrades- they require upgrades when you have slightly out of the ordinary exceptions. I’m guessing because these are extra things that you want to claim (which put more money in your pocket), then they are requiring you to upgrade. I’m guessing that you are using the online version? If TurboTax is requiring you to upgrade, and you would like to use a free option, I suggest trying some of these other free options: www.canada.ca/en/revenue-agency/services/e-services/digital-services-individuals/netfile-overview/certified-software-netfile-program.html If you scroll down a little bit, they show free options for you to use. They may not be like TurboTax, but at least they will be more cost-effective for you. Hope that this helps!
Yes. It’s just a way for turboTax to expand your options. You might get a few questions asking about what else you have after you click on that. If you ever don’t want to upgrade or pay more for clicking on certain things after that, then you don’t have to.
Becca, my wife passed away three months ago. Jan 15, 2024. There is a question “ I’m preparing this return for Becca, who passed away?” Do I click on yes or no considering we filed together for the 5 plus years. Or do I click on yes and proceed?
Hello- that’s a touch situation; I’m sorry to hear that your wife passed away. For the 2023 tax year- because she was still alive during the year, you would file like you would any other tax return. Even in 2025, when you file taxes for 2024, you can still file married/jointly. After entering her information, you can indicate that she passed away during 2024. Send me any other questions that you have. If you have further questions that you’d like to discuss off-line, please go ahead and email me: contact.beccalee@gmail.com More info/example here: ttlc.intuit.com/community/retirement/discussion/deceased-spouse/00/3146893#:~:text=You%20can%20file%20Married%20Filing,passed%20away%20during%20the%20year.
I actually have a video on using the TurboTax tax calculator. It is an even shorter version of the TurboTax filing. You only put in very basic information to see what you might owe or get back. If you don’t want to put in all information and make an account on TurboTax, you can use his calculator to estimate how much you will get back or have to pay before you go to a tax preparer: turbotax.intuit.com/tax-tools/calculators/taxcaster/ If you get confused on the website, search for my video to see how to walk through it.
Hey thanks for your help… Also, rewatch your video, at 29:57 in the video, you show your SSID. Please go edit it before it get in the hands for the wrong person. I couldn’t find a way to dm you private about this. I’m sorry
Hi Becca, I do my own filing on Turbo tax. This year, I am in Thailand until late April. I have tried to log into my account and for my second verification, they always want to text my US SIM card, but this is not an option with my Thai number, which I tried to substitute. There is nothing on their website at all about using a difffent method, like email, to get my login approved...and there is no Chat help. Has this been a question previously for you?? I appreciate any info you can provide. Thx in advance
Looks like you can verify in other ways. More info here: ttlc.intuit.com/turbotax-support/en-us/help-article/security-risk/account-recovery-request-turbotax-account/L3GhqZLVE_US_en_US It looks like you can use the recovery account form to submit identification showing that it is your account. I hope this helps. Let me know what happens.
Hello, Becca, thanks for this video. When submitting tax documents is it okay the documents I upload are pictures of the documents made with my smartphone and turned into a pdf? Is it possible those documents would be rejected? My Social Security award letter would have to be uploaded like that
Has turbo tax ever told you to enter your foreign source amount when it checks for errors? It's supposedly in the 1099 but I'd only find a percentage and the form says I paid 0 on foreign taxes. Where do I find it?
I’ve never had this come up for my own filings. I did find an answer for you though. Check this link out: ttlc.intuit.com/community/tax-credits-deductions/discussion/what-does-foreign-source-amount-must-be-entered-mean-where-do-i-find-this-number/00/592666/amp
It will be listed in income, “other income”. You’ll use the form w-2g that you got from the casino/vendor and import that information. If you didn’t receive that form, you can still list it under the same section. More info here: blog.turbotax.intuit.com/income-and-investments/heres-how-gambling-on-college-and-professional-sports-affects-your-taxes-42523/
Hi there. First, thank you very much for your video. Second, on form 1040, I have been carrying an amount on 5a and for 2023 in 5b will be $2,909. How I can fill it?
Can you clarify what you mean by “carrying”? Did you receive pension and annuity payments during 2023, or do you have them from previous years? If you received a 1099 for your pension payments received, then you’d enter that into TurboTax. TurboTax will then put it into 5a and 5b. Some links that might help: ttlc.intuit.com/community/taxes/discussion/irs-pub-17-says-that-pensions-and-annuities-should-be-entered-on-1040-sr-lines-5a-and-5b-on-my/00/1910710/amp www.irs.gov/e-file-providers/line-by-line-instructions-free-file-fillable-forms#:~:text=Line%205a%20is%20a%20manual,the%20right%20column%20(5b). www.thebalancemoney.com/pensions-and-annuities-3193176
Are you using the Canadian one? If you’re in Canada, or selected to file taxes for Canada, it’ll ask you for a province. If you’re in the US, then double check to make sure you didn’t put down Canada.
Yes! TurboTax allows you to backfile taxes, but you may end up paying late penalty fees to the IRS if you owed taxes for any of those years. In the flip side, you could also collect refunds for previous years as well. Here’s more info from TurboTax : turbotax.intuit.com/tax-tips/irs-tax-return/how-do-i-file-back-tax-returns/amp/L535BxMms
I just started on TH-cam here with my own experience. Different vendors offer different training. You can start with H&R Block if you’d like-I’ve heard that their training is decent.
You’ll enter there in the estimates and other taxes paid section. More info here: ttlc.intuit.com/turbotax-support/en-us/help-article/tax-payments/enter-estimated-tax-payments/L4g2XTu9Z_US_en_US#:~:text=If%20you%20made%20estimated%20or,what's%20described%20here%2C%20learn%20more.
I have a question. If doing the next tax filing on turbotax, will it be the same thing when doing them again and repeating the questions it'll show before doing the taxes?
Are you talking filing for someone else? Or what “next” filing? Generally, TurboTax follows the same questions and only deviates when you answer with something that requires more info. For example, “yes to kids”… then you’d fill out your kids’ info. Then you’d come back to the regular questions.
@everydaywithbecca Thank you, and I was asking, like, when filing your taxes like your tax return when you have to do them again. Do they repeat the same questions to update info? Sorry if that one confused you.
@@PositivelyMoore if you use the same account to file next year, they will ask you about old accounts. if you are working at the same job, they will give you the option to just update the numbers. For example, if you worked at US Bank, they would ask you “ did you get a W-2 from US Bank?”. This is why it’s best and easiest to use the same account to file every year. Saves you time in the future.
Hi we are five family members 3 children and mom dad we three children a dependent but we didnt get tax return how to check and fill the tax again by turbo
Did you prepare a tax return last year? Just because you have dependents, and a family does not mean that you will get a refund. Depending on how you pay taxes on each of your paychecks, you could actually owe money. if you’re confused at all, you should check out my W-4 video for more help on making sure that your taxes are lined up during the year so that you get a refund or pay a minimum amount.
For the portion that asks about did you have any expenses as a teacher, does homeschool teaching count? I have curriculum, supplies, ID cards, travel, ect. Thanks :)
Did some digging-it looks like homeschooling isn’t categorized as an educator expense. Depending on your state, you may be able to file for other deductions regarding homeschooling. More info here-scroll through it for the links to the qualifying states that have credits you can look into: ttlc.intuit.com/community/tax-credits-deductions/discussion/can-i-claim-teacher-expenses-for-homeschooling-my-elementary-student/00/511381/amp
Hi there! If your son has a W2, then he has to file his own taxes. The only income that you can claim as a parent is interest income and dividends. Because you are claiming him and he is your dependent, make sure that when he files his return, he marks down that someone else is claiming him, and he is dependent on them. If you want more detailed information, you can check out Turbotax’s link here: turbotax.intuit.com/tax-tips/family/should-i-include-a-dependents-income-on-my-tax-return/amp/L60Hf4Rsg Let me know if you have any other questions. Good luck this year!
@@angelabravo6767 it depends. Do you pay rent? Do they cover most of your expenses? If they do, then yes, you would be claimed as a dependent. Also, check with them to see how they are claiming you. If they’re claiming you as a dependent, then you can’t claim that you’re not a dependent.
What if you pay rent , I’m currently renting a room for $700 a month . Bad enough you can’t even add your phone bill or grocery expenses . That’s kinda why I always go to someone in person but H&R charges allot
Unfortunately, federal taxes, do not give you a break or credit for paying rent. However, your state might. I would do a search on Google to see if your state offers a renters credit, and if it does, then TurboTax should bring you to that section when you start doing your state taxes.
@@everydaywithbecca I live in Florida and when I do my taxes on turbo tax . It gets to the state taxes part and it says it doesn’t apply to me because of a few different points. So I skip it. I’m completely ignorant to everything in regards to doing taxes and I hope I’m not doing anything wrong by skipping the state taxes. Thanks!!
@@wutuvuworld8239 Hello! I did some digging and found that Texas is one of the few states that doesn't impose income tax on their residents. They do impose business taxes on business owners though. If you don't own a business, then this may be a reason why you don't have to pay income taxes and can skip the state section. Yay for you! More info here: www.hrblock.com/tax-center/filing/states/taxes-in-texas/#:~:text=Texas%20is%20one%20of%20a,levy%20taxes%20on%20business%20income.
@@wutuvuworld8239 I just realized I misread and looked up Texas. Face palm* lol. Sorry! BUT, Florida is like Texas and does not have state taxes. More here: smartasset.com/taxes/florida-paycheck-calculator#:~:text=Overview%20of%20Florida%20Taxes,retirees%20and%20tax%2Daverse%20workers.
What about filing a 1042 S that I got for modeling although I am a resident alien for tax purposes they sent me this because I am a can citazen but living and working full time in the US with a work permit. I would need to claim expenses also from that income as self employed. How do o input the 1042S? I also had 1099’s for a different type of work like yoga/ meditation instructor
You'll enter both forms in the income section, under "other income". More info here: ttlc.intuit.com/community/taxes/discussion/where-to-enter-this-1042-s/00/1363695
@@rosem4741 if you’re filing business taxes as well, it depends on your business and preference. Here are some helpful links: ttlc.intuit.com/turbotax-support/en-us/help-article/sole-proprietorship/file-business-personal-taxes-together/L0GTsGE9R_US_en_US turbotax.intuit.com/tax-tips/small-business-taxes/llc-tax-filing-rules/amp/L39E29kPR www.ml.com/articles/tax-tips-for-small-business-owners.html www.bench.co/blog/tax-tips/small-business-tax-deductions
So if it gets reported as other reportable income on turbo tax I will be able to still claim expenses because it was income from self employment? Because if it shows up as other income because that’s the only way turbo tax lets me input the 1042s how will I include that on my schedule C for modeling income? It’s a bit confusing
@@rosem4741 It sounds like you a sole proprietor--if you are, you can file everything in your personal taxes under schedule C. TurboTax allows you to enter your self-employment income (1042S) as well as expenses all together. It then finds your "net income" and reports all of it in schedule C. All you have to do is enter your income, then list your expenses (TurboTax will walk you through this after you add self-employment income into your online filing).
Here’s more info from TurboTax: turbotax.intuit.com/tax-tips/health-care/can-i-claim-medical-expenses-on-my-taxes/amp/L1htkVqq9 From what this says, only medically necessary treatments and costs are deductible.
If you go threw all the trouble to file a tax return with Turbo tax...and at the end they say you have to send a printed copy to the IRS...that seems to defeat much of the reason to use Turbo tax...I mean why not just get the paper forms and fill them out and mail them in. That said...I am wondering if you know...if you do fill out the paper forms yourself (no turbo tax) and send them into the IRS.....when would you guess you could get a copy of your tax transcript for 2023 taxes?
The forms can be tricky and confusing if you don’t know how to fill them out. TurboTax offers a simpler way to complete them. Instead of doing the math and looking for boxes yourself, you just answer questions and they fill it out for you. Transcript timelines: www.irs.gov/individuals/transcript-availability#:~:text=allow%206%2D8%20weeks%20after,in%20mid%20to%20late%20June.
Question is this all done on turbo tax website? Also in 2023 my only income was from uber food delivery...ps i never filed my own taxes before...thanks
My whole tutorial is done on the TurboTax website. Some people prefer to buy the software and do it on their home computer. Even if you do it this way, the steps are very similar. If you are filing as a single person, you would have to make at least $13,850 in 2023 to be required to file taxes. If you did not make this much, you are not required to file. Or, if you are filing under a different filing status, then there are other gross income requirements. Let’s meet this girl in income and are required to file- at this point, you would use the 1099 - K that you receive from Uber to report your income. To find it in TurboTax online, just use the search bar and type in 1099 - K. You should be able to “jump “to that area and start filling out your information.
this is my first time I try to do my own tax filing. I have a question where do I find to put in my first time buyer credit payback. I bought my house that year. I was qualified for $7500 as join tax account. Please advise.
In my experience with this homebuyer credit, it is generally found in the form of some type of second mortgage. You should receive some kind of 1099, for any interest you paid towards this credit/loan during the 15 year period after you first purchase it. If you sell your home before this. And pay back the full amount, then you will fill out form 5405 and attached that to your taxes. From what it sounds like, since he just bought your home, and aren’t selling it yet, then you should be receiving some kind of proof from your bank account or the mortgage company about the payments that you have been making towards this payback. Look to see which form you have been issued, and if it is not a 1099, then use TurboTax search bar to make sure that you were inputting it the correct way. I’m curious to see what form you have. If I don’t see this later on within the next day, please email me and let me know if you need more help.
look like Turbo Tax pull all my info from IRS once I fill in my info and it's show up on the tap I own a home. I done filing my tax and submit Efile. I can't believe it I did it with watching your video.Thank you for your help it's a good video. @everydaywithbecca
@@everydaywithbecca I searched on website how to file tax return using Turbo Tax and I found you on TH-cam so watched your video and some other so I decided to go head and give it a try. Thank you so much it’s really appreciated your help.
I don’t have a video on this topic and I don’t believe I will be making one this year. For now, here is some help: If you haven’t made any money yet in 2023 from your new business, then there is no income to claim. The only way you would have in income to claim is if you got any kind of interest from your bank account for that business. The only thing that I would urge you to do is claim any business expenses that qualify as deductions. If you use the search bar and search for “schedule, C “ then click “jump to schedule C “, TurboTax will bring you to where you can input, your self-employed, business, income and expenses. Income comes first and then expenses. You’ll be able to either import expenses from a bank account or you can do them individually.
Yes! You’ll be able to print a copy or save it as a PDF. you can also always go back into your account and save/print it in the future if you lose that copy ever.
at what point does turbo tax ask if you made any payments already for the tax year ? i owe 300$ but i prepaid already 3000 for the entire year so when does turbo tax ask me to enter that info ? in this case i would get a refund of 3000-300 = 2700. Do we enter this info after the payment page ?
Hey so my state taxes keep being rejected, i sent my forms to my uncle who is an accountant and he said the math is all good but there is a portion where it asks if my occupation requires a license or certificate(which it does, my food handlers). Turbo tax has that yes or no question left blank, i tried changing my occupation from barista to food service and it didn't fix it. I know there is a way to edit your tax forms manually instead of step by stop by clicking the ''forms icon'' where is that and how do i do it. I was able to do it once when turbo tax thought I was missing my email in one part but I don't know how to get back. Help!!!!!
Hello! I did some digging for you, and it looks like only the desktop version of TurboTax allows for the forms mode. If you have the desktop version, you click the forms icon (should be located on the top bar of the software) to get you to the place where you can manually edit forms. Once you edit this, you can go back to step-by-step mode by clicking “step-by-step”. If you are using the online version, this is not possible. The only other way I can see you being able to file is if you select the “mail my return” at the end and use a program like Adobe acrobat to edit your PDF before sending it in via mail to the IRS. This would allow you to manually change whatever you need to on the form. The only downside is that you manually mailing the form, it’s going to take longer to be accepted and processed then if you were to electronically transmit it.
Oh my god I just wanna thank you from the bottom of my heart for making this. Thank you so much Becca! I’m 19 and I don’t know how to do taxes, I never received any sort of help from my family and parents for this. This was sometning I dreaded for for a long time as I had to learn everything alone and it seemed so terrifying and dreadful. Seeing a full worked up tutorial showing what to do eases my stress so much. Thank you so much and thank gosh TH-cam exists.
Ha! A decade ago, I was lucky enough to have someone teaching me. Glad that we’ve got TH-cam these days for every single thing we have questions about. Happy to help. Lastly, WOO-go you! Get your taxes done and out of the way. Cheering you on from the sidelines. 🎉🎉🎉😊
Just got done with my tax return in 25 minutes, thanks to you!!!
You’re amazing! Glad I could help. Hope the season goes smoothly for you!
First time doing my taxes all by myself and this was really straightforward and helpful. Thank you!!
Glad tit was helpful! Good for you! Best of luck this season. Reach out if you need help!
"Sit back, relax, grab some coffee, maybe something stronger..." Love you already.. hahaha.
Ha! Thank you, and thanks for your support.
🎉🎉🎉🎉🎉 yes
Just a quick glance at this comment section before I watched the video and I LOVE that you respond to everyone. Amazing.
I haven’t filed my taxes myself in many years. I think this is the year I start again. Thanks.
Aw, thanks! I sometimes miss people, but hope I get most of them. People are here because they need help, and I wouldn’t be much of a resource if I didn’t respond. Glad people are so interactive on here!
Good luck with your taxes! Reach out with questions.
Thank you so much I just turned 19 and I’m very independent when it comes to these things and you really helped me out with this I feel so much more comfortable with this and I get anxiety thinking about doing this every year but I feel more eased with you explaining it thank you so much !!
So glad to hear it! Look at you being responsible! Happy to help. Reach out with any questions and best of luck to you this season!
How much money did you make back ?
thank you some much becca! this is my first time doing my own taxes and this video made it helpful, fast, and easy! 👏🏻
So glad to hear it, Jessica! I hope that this tax season goes well for you. Reach out if you need any more help.
Thanks!
Wow! You’re officially my first super thanks. I’m so grateful-thank you from my whole heart! 💛😊
Thanks for you post it's very helpful for an older person to fill for the first time.
Glad it was helpful! Good luck this filing season! Comment or email me if you need more help!
Thank you so much this is so helpful. This is my first time I used to pay $500 for someone to do it.
I’m so happy for you. That’s a lot of money! Be sure to check out my newest video in case anything has changed. Good luck this tax season. Reach out to me if you have questions.
Great info !
Sick and tired of low federal refunds and spending $$$ on someone to fill out my forms. Losing money because of preparer fees plus she is retiring soon and I have made the decision to start doing this for myself.......finally.
Plus a co worker said she uses TurboTax so I am diving in and seeing what I can do this month.
Congrats to you for making the jump! Good luck and reach out with questions! (Those fees definitely add up!)
Thank you Becca! I just want to make an update on the 5:19 "Review and Sign" slide. TurboTax is now requiring users to sign their names before continuing to the next step.
Thanks for the update. TurboTax is always updating the way they do things. Good to know!
Still watching for the first time and learning a lot. You already have my sub. Thank you in advance for the lesson!
Thank you! Check out my newer videos and let me know if you have any questions!!!
Thank you so much for the best tutorial on YT! You provide a great overview with such expertise, knowledge, professionalism and humor. Love the gifs as well! Appreciate your attitude, personality and in general, the way you provide such useful and helpful info. in a friendly manner. The outstanding videos you post are very much appreciated!
You’re so sweet! Thank you for your encouragement and feedback. I appreciate your words. Love knowing that I’m helping someone out there! Good luck to you this season! Reach out if you need anything.
Too late for me this year, but after paying $150. For a simple tax return, I’ll give it a try next year.
Take a look at cash app taxes too if you’re located in the United States. I filed my own taxes for free using cash app taxes this year. Great option for someone who has used in online system before and knows how to navigate their taxes.
Thank you for this through and clear explanation ❤
Thank you for your encouraging words. Hope this tax season goes well for you!
Not sure who owns turbo tax but the annoying adds have convinced me to seek your direct competitor.
H&R Block? I’ve got a tutorial on that too. Either way, good luck this tax seaskn!
@@everydaywithbeccalol good luck.. it is always a gamble doing taxes. You never know how much your gunna get back.
@@Trex505shorts to help my family out, I always check in whenever we have big changes, and I use the IRS’ W-4 estimator. Basically, this tool shows you how much you have already paid in taxes, and what your estimated taxes are going to be. Let’s say use do this in the middle of the year, and you see that you are going to beginning a large return back. If at this point, you need more money on a weekly basis from your paycheck, then you can lower your withholdings. If you do this and see that you are going to owe a lot and don’t want to pay that much when you file taxes, then you can increase your paycheck withholdings so that you’re paying a little bit every paycheck rather than one huge sum at the end, when you file your taxes in the new year.
Here’s the link to their tax estimator:
www.irs.gov/individuals/tax-withholding-estimator
Obviously, a lot of things can change - new laws can be passed, but it can be a great way to see where you’re headed as tax season gets closer
@@Trex505shortsshould b said tat how much u gonna owe irs
@@Trex505shortsyeah, because the government has no idea wtf to give back.
Ever notice how almost everyone owes money last year? Maybe it all had to do with Covid and all the money they had to fork out 🤔…
This was sooo helpful. I got to the end and saw my returns and was about to file but I couldnt cause I had to pay😂😂-. I was apparrently using the deluxe version. Gonna do it over again using the free version because my whole point of learning to do it was to not pay for it to be done. Hope there is a free version. Thank you sooooo much. Also, I didnt see a part where they asked for bank account information to refund the money. Is that done after filing or what?
So glad it was helpful! Thanks for your feedback! Congrats on doing it on your own, too!!!
There is a free version, but, depending on what you are trying to claim, and the types of assets that you have, you may not be able to do it for free. Usually the free version is for people with very basic tax returns. You can go to this link and scroll to the bottom. It will tell you what qualifies for free filings and what would require an upgrade to a paid version:
turbotax.intuit.com/lp/ppc/2958?srqs=null&cid=ppc_gg_b_stan_all_na_Brand-BrandTT-BrandTTFree-Exact_ty23-bu2-sb8_683555754655_142950093519_kwd-354495957291&srid=Cj0KCQiAqsitBhDlARIsAGMR1Rgydrz7SlLyhs-JVdGi5oWQCXb_Gl80Fx7oWTC5lrNDuRp9D6DyRigaAvLUEALw_wcB&targetid=kwd-354495957291&skw=file%20for%20free%20turbotax&adid=683555754655&ven=gg&gad_source=1&gbraid=0AAAAADkGAVmbtg1RJNGKAzZUj1PQ4NCny&gclid=Cj0KCQiAqsitBhDlARIsAGMR1Rgydrz7SlLyhs-JVdGi5oWQCXb_Gl80Fx7oWTC5lrNDuRp9D6DyRigaAvLUEALw_wcB&gclsrc=aw.ds
As for the bank account information- that actually comes after you pay for the return. Also, it only happens if you get a refund from the IRS. In other words, if you are getting a refund and you have already paid for TurboTax fees, or qualify for the free version of TurboTax, then you will be taken to the refund options to route your refund to your bank account.
Reach out if you need more help !
@@everydaywithbecca You must be an angel! Thank you🙏
Had to come back and thank you. Followed your steps and advices and my tax got accepted so my returns are on the way. Thank you soooo much. Can’t believe people are paying $120 usd and more for people to do this for them. You are a gem!
@@aksaniamorris3042 look at you! That’s amazing! Congrats on getting that done. Glad I could help. Let me know if you need anything else. 😊
This video is great! I've watched since last year on how to file my own taxes. I recently got married and am wondering what the best options are. Filing jointly or separately. Would love to see a video on the differences and benefits of both! Great video!
I don’t have one as of now, but did find this great resource for you! Maybe I’ll make one this year. Thanks for the feedback and for coming back!
turbotax.intuit.com/tax-tips/marriage/should-you-and-your-spouse-file-taxes-jointly-or-separately/amp/L7gyjnqyM
Information is power
Agreed!
I subscribed because you really help people. Very caring.
Thank you! You’re too kind. Appreciate that.
You are awesome. I am going to do my taxes myself this year , first time. I am 58 and lost my husband 4 years ago and have no dependents. Your video is very helpful and the first I saw on doing taxes yourself so feel better and confident. Last year my tax consultant took my W2, put the information in and while I was there he just filed it in a minute and I paid him$100. AND I owed money. I am not sure why I owed, but since my husband’s death I had not changed my W4. Would it because my marital status wasn’t updated from married to single,it could be because of that? This is all a lot and sometimes overwhelming. Hope your videos will help first timers. Keep up the great content and I will be watching all your video’s.
Thank you for all your kind words and feedback! Appreciate you.
Glad you’re taking charge and filing yourself! Hope it goes well for you this year. Reach out with questions.
W4: yes. This could be why you ended up paying more in taxes at the end of the year to catch up. Whenever your life situation changes, it’s good to update your W4-whether you get a raise, become single, or have a dependent added. Always make sure that’s up to date. You can even use the IRS’ withholding calculator throughout the year to make sure that you’re paying enough. It gives you guidance on how much/how to change your W4 form. Check it out here: apps.irs.gov/app/tax-withholding-estimator
I have always used a tax preparer but its been getting more & more expensive. Would you recommend TurboTax for someone with multiple rental properties?
If you keep good records, it’s a good option for you to report that income. I can get complex, so if you don’t know how to do your taxes, or don’t have time to come, then it may not be a good option. It really depends on you, your ability to learn a little bit of technology, and the kind of records you keep for all of your mental properties. Also, it may be good to consider how much you paid for a tax repair versus what you would pay for TurboTax.
I've been waiting for form 8936, which is now available but my software doesn't know about it. How do I update it?
It says on their website that if you bought the 2024 version, it should be included:
turbotax.intuit.com/personal-taxes/irs-forms/
You can search for forms on that link. Try typing for it in the search bar of your desktop software.
If you are using the online software, you just use the search bar to look for it, and then “jump to” it to begin completing it.
thanks, I'll try again. :)@@everydaywithbecca
I got an email from them saying the forms were ready but on my software it says ready on 2/21. So I'll wait until then.@@everydaywithbecca
Hi thanks a lot for showing us how to file one's own taxes. I did my own this year. I have a question. How to modify or add 1098 info after I already filed? My younger sister took professional help this year but did not add 1098 info. I don't know whether the professional used TurboTax for filing. I would appreciate any guidance. and also does it need to be done before the due date?
In order to add a 1098 to a filing that has already been submitted, you would have to file an amendment. The easiest way would be to find out what program she did use, and if it is a program program, she can access like H&R Block or TurboTax, then to submit an amendment through that software. Another option would be asking that professional that helped her do her taxes to submit an amendment on her behalf. Worst case scenario, you would have to either manually fill out the amended tax return form (1040-x), or re-create her tax filing through one of those software, selecting “mail in” when it comes to the transmit screen, and then creating an amendment from that filing created on the software. This last option would require you to select “mail in” because you really really only want to create the filing in the system that does not have that filing yet. Because she has already submitted it to the IRS, you would not want to electronically submit the same return. Once the return is created in the software, you can use that duplicate “fake” filing document to create an amended return.
Thank you for this video, Becca. What do you think about the download that Turbotax offers?
Which download are you talking about? The download of your returns/copies, or another download?
Thank you for this walk thru i think i can now do it on my own...Do i buy this turbo application ? is this something I can upload online
You can choose one of three ways:
Their app on the phone, the online version, or you can purchase their software from a vendor (like Staples, Sam’s Club, Target, etc.). It’s really up to you on what you’d like to do.
My tutorial walks you through the online version, but the other versions will be similar too. Send me an email if you have any questions! Good luck this season!
This Video helped me so much!!! Do you happen to have a similar video for someone with dependents?
I don’t for TurboTax, but to add dependents, just use the search bar and type in “dependents”. It’ll let you “jump to” dependents and add your dependents and then bring you through corresponding screens thereafter.
Really appreciate the video Becca. I do have a suggestion. I don't really think you can slow your rate of speaking because you mentioned you were aware of it and were trying to slow down but didn't or couldn't. I think you're just wired to talk fast. . But I found if I go to settings on TH-cam and change the audio speed to .75 it's a perfect speed. You may want to suggest it to your viewers. I was getting a headache trying to process all this new info at real speed but the change to settings did the trick.
Ha! 💀💀💀 I’m laughing because I’ve never thought of that before. Looove the perspective and idea. Thank you! Appreciate you!
It only showed where to pay turbo tax for filing. How can you also pay the federal tax owed?
That’s in a later screen. You input the payment info for TurboTax and then they’ll ask you afterwards how you want to pay for your taxes. Did you move on to the next screen and see that?
No because they wanted me to submit a payment for their "free"tax filing first. I thought they were going to just take that payment for their services and then dip lol.@@everydaywithbecca
I have done turbo tax for many years and there has always been a little calculator for the federal and state return amounts (usually near the top) to help keep me updated on how everything that I am imputing affects my return. I can’t for the life of me get that to pop up. Is it gone? Do you know how I can locate the calculator? It was so handy to have and helped me understand how everything that I input was impacting my tax numbers.
There should still be one. When I went through this tutorial, it’s on the top left.
Yes, I saw it on your screen. I still can’t figure out how to make it appear on my screen. I have tried so many things. I’m wondering if maybe using my iMac is causing issues or maybe my slow internet isn’t allowing the page to fully load. Idk what the problem is, but I can’t get that feature to appear on my screen. I am well into inputting my deductions/credits, so there should be enough info for it to pop up. (Also, a huge thank you for replying to me on this😊)!
Thank you for this tutorial. This is the first year in some time that I am doing my own taxes and I have found your approach empowering. At what point could you have avoided going to the Deluxe package? Also, do I need download my tax forms from last year in this year's filing? Thanks!
At a certain point, you may not be able to avoid upgrading. For example, if you have investment gains, this would require an upgrade and be required to be reported since its income. However, if you have a simple filing and don’t want to input other deductions that would require an upgrade (non-cash donations/cash donations to a charity) that would technically help you, you could choose to not include these to avoid an upgrade, knowing that they may help you in terms of deductions.
That sounds complicated-TurboTax, actually offers a quick check for you to use to see how much you’re estimated to pay in costs. Check it out here before filing and see if TurboTax is an option you want to explore:
turbotax.intuit.com/personal-taxes/compare/online/
Also, check out my video regarding tax services this year. You might find a better fit in that list. Video is here:
th-cam.com/video/qkL3rSggeVk/w-d-xo.htmlsi=G62JgKdeuiVWnjFS
Thanks for tuning in, by the way! Appreciate your support and feedback!
Thanks Becca….your video was very helpful
Good! I’m so glad to hear. Thanks for sharing!
How do I file multiple W-2s? I have more than one Job.
Just click on “add w2”; you can add as many as you need for the same person or for those filing together in one household.
Can you show us a quick video when you have children/dependents? Im not sure if I didnt catch it on your video. Thanks 👍
I don’t show you in this video and don’t have one right now, but if you use the search bar on TurboTax when you’re logged in, and type in “dependents”, you’re able to add them there. Individual information on each and a few answers to questions about their living situation.
Or, if you prefer you can go to “my info” and it’ll take you to your basic info and the option to add dependents.
At the beginning of this video, on the Home Screen where I put in my info, I don’t click the “I have dependents” button. When you’re starting, make sure that you do click that so that TurboTax will allow you to add them in.
Hi Becca, I'm confused right off the bat. Maybe I missed the first step in a previous video.
You said "go ahead and create a turbo tax account", but you did not explain how to do so.
I am assuming that you have to purchase the software, then load it on to your computer and follow the software instructions which will tell you how to set up the account.
My tutorial goes through the online version. If you choose to use the online version like shown in this video, you just use your email to set up an account on their website. You don’t have to pay until you file.
On the other hand, if you choose to purchase their CD software, then you have to buy that at the store, load it onto your computer and then begin your return. Depending on the version that you buy from the store, you can file up to five federal returns, one state return without paying more than what you paid at the store. The only time you would pay anymore is if you owe money to the IRS itself. TurboTax would not charge you anything else for the filing.
@@everydaywithbecca Thank you so much. That explains it
I have TurboTax Free / Basic edition for three years now, and this is the first time I will do it on my own 😐. But after seeing this, I should be able to do it. I only have just the W-2 from work and a 1095-A form ( I have Covered California / LA CARE as my health provider ). Let's say if I do them halfway, will the information be stored or do I start over? I don't get paid again until March 9th and that'll be the time I will put some money in my account to cover the costs, but in the meantime, I'll watch your tutorial to see how it's done. Do I have butterflies doing this on my own for the first time, yes, but I'm sure I'll get it hang of it. Besides, it's usually my luckiest month, March is, my b-day is exactly ONE month from now today, and I can sure deserve a great birthday gift than my returns ( I'm 53 BTW, shouldn't be too 😬 doing this ), so thanks for posting this. Thanks 😀!
Amazing! So excited for you to start doing this on your own.
If you are using the CD desktop version, you will have to manually save so that you don’t lose the information you’ve put in. More info here: ttlc.intuit.com/community/taxes/discussion/saving-a-work-in-progress/00/1254711/amp
If you are using the online version, it will save automatically for you, so that when you login, you can jump right to where you left off.
Good luck and reach out if you need more help !
@@everydaywithbecca Hello... again ☺️! After watching your video three times overnight ( I was off today ), I went onwards to file, thankfully, my aunt was nice enough to send me $120 to go ahead and get it out of the way ( I don't get paid until next Saturday 😐, so THAT was a BIG help for me ) and it really was EASY to do... almost forgot to put in my work W-2 info, but I made it. Thanks for posting this video, almost had butterflies, but mission accomplished. The IRS accepted both returns three hours ago, so, I'm looking forward to both returns..... happy early birthday to me!!! Let's just say my returns are much better, WAY BETTER than last year ( around about $550 combined 😕... ). Aaaannnd I did it on my tablet, had to pause it for the funds to arrive in my checking account though, thank you once again! Now I'm done ☺️🎊!
@@ghanaking5255 good! Glad you got it out of the way and your aunt was nice enough to loan you some money. What a blessing. Good luck the rest of the season! Reach out if you need more help!
Hello, I need some help. I live in Illinois and work in MO. Last year I worked in the office 3 days a week and worked from home 2 days per week. This year on my MO state tax there's a field to enter Remote work amount. How do I calculate that amount?
I’d suggest you ask your workplace to issue an itemized statement of some sort showing your pay for in-office office hours vs. those remote hours. MO would be taxing the hours worked in office.
Here’s a site that follows a forum regarding MO and remote work:
ttlc.intuit.com/community/state-taxes/discussion/remote-worker-non-resident-tax-question/00/3178640#:~:text=If%20you%20were%20a%20full,file%20an%20MO%20tax%20return.
It’s not exactly your situation, but it doesn’t mention MO can’t tax for hours someone works not in-state.
Right now to be honset, I feel better about taxs becuase of youuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuu Becca Lee
Reach out with anything you need this season! Good luck! Thank you!
Thank you so much for the great tutorial, and please I will try doing by myself this year for first time. So, I am married having two kids. Is it better to file joint married or married filling separate? Us there is difference between turbotax online website and the software version?
It depends on your financial situation. Then it’s breaks it down here: turbotax.intuit.com/tax-tips/marriage/should-you-and-your-spouse-file-taxes-jointly-or-separately/L7gyjnqyM
You can filing either way, but only one of you can claim the kids-each kid can only be claimed once.
TurboTax online requires that you pay (unless you have a simple return that’s free) per federal and state filing. The desktop version only requires you to pay once for up to 5 federal filings, and then any fees for your state filing. The real difference comes down to having your information online with their online version, versus having it stored on your computer with the desktop version. Some people feel more secure without putting their info on tuebotax’s online servers. Some people also have to filing more than one and so they prefer to just get the desktop one instead of making a new account for each filing online (if you need one, if your wife files separately, and if your kids are old enough to be working and need to file as well).
Send me more questions that you have!
My school issued us incorrectly an 1099NEC for an education stipend (cost of living). We were only interns and we were not contractors nor independent. Where do I input this total correctly. Its taxable ince as they did not take any taxes out. Im not filing the amount as an 1099NEC.
If you haven’t filed yet, Search for 1099NEC and enter it. If you’ve already filed, you’ll need to amend your return and enter in the new one and the same way.
Thank you for sharing. I have a simple but serious question. If I quit my job and I don’t have any income for full year, do I have to file tax or do anything?? I’m worried.
It depends on how much money you made during the year before you quit. Income guidelines here: www.irs.gov/newsroom/who-needs-to-file-a-tax-return
Good luck! I hope everything goes well with your job situation.
@@everydaywithbecca sorry. I don’t understand.
Should I file tax if I don’t have income for the whole year of 2023?
@@kenjung9380 if you didn’t have income, you are not required to file. To double check, look at the link I sent earlier.
hi becca how can i add my 2023 w-2 form to my 2024 taxes i cant see the option for it, thank you in advance
You cannot add a previous year’s W-2 to the current filing. Did you file for 2023? If you did, you will need to make an amendment. If you did not, then you will need to file for 2023 separately from 2024.
Also, I would check out my newest video for the 2024 taxes when you’re ready to file that.
What are your thoughts on using the online version vs the digital download/CD? Any benefits or downfalls?
I haven’t used the cd version since I was 16. My parents really likes using the cd because they didn’t trust the online system to keep their information secure. I prefer the online version in general but I also like to have easy access to my things all the time and only file one return from my family. The online version only allows you to file one federal return per account. If you are helping a family member file their return, they will have to make their own account. The CD allows you to file multiple returns.
Here’s a full comparison: ttlc.intuit.com/community/taxes/discussion/what-are-the-differences-between-turbotax-online-and-turbotax-desktop/00/723206/amp
I have two jobs do I need to put both information at the same time or do each job separately?
You need to list each W2 or 1099 that you received for your job separately.
This is the first time i am filing my taxes in the USA as a new immigrant now working... I was directed to Turbo Tax by a friend so am hoping to do it Successfully,
Any advice please???
Take your time and make sure to double check everything. Don’t file until you have all of your documents. Lastly, if you get a refund, make sure you get your bank account in correctly and print/save copies for yourself. Lastly, reach out for help if you need it!
Thank you so much for your explanition and helping me, I love your confident. I also I enjoyed watching your video thank you ssooooooooooooooooooooooooooo MUCH
You’re so nice! Thanks for your feedback and for leaving encouraging words. Appreciate you!
Hey! I don't know which one to buy? basic, standard, deluxe, premier ?
Are you doing it online?
@@everydaywithbecca No I went to staples to go and buy it for the first time. They had different ones as I pointed out and I didn't know which one to chose. I think I should go with the deluxe one, because I am not running a business or stocks or anything like that ? which one would you suggest? or do you suggest buying it online?
@@Bytekin101 you can purchase it at the store; it’ll work similarly-some people just prefer the security of a desktop software. This article helps explain the products and who should buy what: www.cnet.com/personal-finance/taxes/turbotax-review/#what-products-does-turbotax-offer
Wow I loved this video!!!! Should I do my taxes rn since if the bill passes or not it’ll be retroactive?
I would look at the bill to see if you’d be someone who qualifies. It has a lot to do with income levels, and if you believe it would affect you, then I’d wait. To be safe, you can wait altogether, as it could still change in general.
If you end up filing up early and have to amend, I do have a video on amending. Check that out or send me an email if you need more help in the future. Best of luck to you this season!
@@everydaywithbecca okay thank you! What’s your email I have a couple of questions lol sorry😭
Contact.beccalee@gmail.com
No problem! Talk soon.
Your show got me into TurboTax. I try to buy a CD software but just realize that my desktop has no CD connection. Is there any other way to download the CD to my desktop, which I prefer to start trying TurboTax? Pls kindly advise, thanks! Lily
If you already bought the cd, you can get a cd adapter for your computer, or return the cd (not sure if that is possible), and use the online version. The online version requires payment per filing.
Thank you so much!
@@Lily-se2op you’re welcome!
What if I have three W2 forms?
Is there a section where multiple W2 forms can be entered?
In the W-2 area, after you add one, you’ll be brought to a main screen where you can add more. You are able to add as many as you need to.
work and travel?
When do I enter my property tax? Does Turbotax bring it up in the filing when I chose the category "Own a Home" in "Tell us a bit about you" section? Thanks Becca!
You can easily search for 1098, or search for “property tax”.
More info here: ttlc.intuit.com/turbotax-support/en-us/help-article/tax-credits-deductions/enter-real-estate-property-taxes-turbotax-online/L2bHCVCh7_US_en_US
Great! Thank you, Becca!@@everydaywithbecca
Very helpful video, this is my first time filing my taxes and I need help figuring out if I should file my social security pension that my father left me when he passed. It would appreciate it a lot.
It depends on the benefits and your total income.
IRS website: www.irs.gov/faqs/social-security-income/survivors-benefits/survivors-benefits
Investopedia makes it a little easier to understand: www.investopedia.com/ask/answers/102814/are-social-security-survivor-benefits-children-considered-taxable-income.asp#:~:text=If%20survivor%20benefits%20are%20the,are%20not%20responsible%20for%20taxes.
You should receive a 1099 from social security and use this for reporting.
Send me any other questions!
Hi Becca! If I live at home with my parents (not a homeowner), do I click “I paid rent”?
If you paid rent, then yes. You will need proof of rent paid though. If you didn’t pay rent, then no. Also, make sure that they aren’t claiming you as a dependent. If they claim you, then you have to mark down that you are claimed as a dependent.
Hi quick question do I still have to report dividend reinvestments?
I don’t deal with this often, so I did some digging:
Investopedia states: “Reinvested dividends are treated as if you actually received the cash and are taxed accordingly.”
www.investopedia.com/ask/answers/011215/if-i-reinvest-my-dividends-are-they-still-taxable.asp#:~:text=Cash%20dividends%20are%20categorized%20as,cash%20and%20are%20taxed%20accordingly.
Pay attention to what your 1099-DIV stated and enter it correctly in your taxes.
@ ok thanks
What if u filed using egtax or h and r Block. Went to their office not online....what would I put in for where I filed last yr
The “other” option. They should allow you to upload a copy and import info, or allow you to input your own information from that copy manually.
What is the best and easiest tax software I can use as I am first time doing this
I’ve always opted for TurboTax, but everyone has their own preference. H&R Block, TurboTax, and tax slayer are pretty similar in their platform and ease.
Thank u so very much very informative video is there a line where I put my 6 digit security pin #?
This should be under the personal information section. If it doesn’t come up, you can use the search bar to look for “IP pin” “jump to” that section.
@everydaywithbecca thanks Becca I appreciate it 😃
@@jacobhines83jhjh69 hope it worked well!
The part about at minute 5.35 with "review and sign" - I don't have an option to skip it. However, I want to know what it is really asking for - because I understand it needs my consent to do the work of preparing and submitting my taxes, but the fact that I can deny it makes me wondering what it's truly asking. I'm under the impression that it's not just a place to save the work done on my return. Would love your thoughts on this, thanks!
Did some digging-TurboTax is asking for your permission to collect your data and share it with the IRS as a vendor/party on your behalf. In the event that you don’t finish your return, it’s asking if you allow them to keep this info on file in the interim prior to filing. It’s my understanding that they need this permission in order to store your data and eventually file your return.
Hi, I have used free turbo tax in Canada for a number of years. This year I have a couple of medical expenses and several transit monthly passes to claim and it wants me to upgrade to input that info. I do not know how...my mom gave me a key code for Standard version.
TurboTax is starting to charge more and more for upgrades- they require upgrades when you have slightly out of the ordinary exceptions. I’m guessing because these are extra things that you want to claim (which put more money in your pocket), then they are requiring you to upgrade. I’m guessing that you are using the online version?
If TurboTax is requiring you to upgrade, and you would like to use a free option, I suggest trying some of these other free options:
www.canada.ca/en/revenue-agency/services/e-services/digital-services-individuals/netfile-overview/certified-software-netfile-program.html
If you scroll down a little bit, they show free options for you to use. They may not be like TurboTax, but at least they will be more cost-effective for you. Hope that this helps!
Hey I have a question do I click on I want to maximize deductions & credit cause I have my w2 & my unemployment paperwork?
Yes. It’s just a way for turboTax to expand your options. You might get a few questions asking about what else you have after you click on that. If you ever don’t want to upgrade or pay more for clicking on certain things after that, then you don’t have to.
@@everydaywithbecca ok thank you so much I appreciate it 💯
Becca, my wife passed away three months ago. Jan 15, 2024. There is a question “ I’m preparing this return for Becca, who passed away?”
Do I click on yes or no considering we filed together for the 5 plus years. Or do I click on yes and proceed?
Hello- that’s a touch situation; I’m sorry to hear that your wife passed away. For the 2023 tax year- because she was still alive during the year, you would file like you would any other tax return.
Even in 2025, when you file taxes for 2024, you can still file married/jointly. After entering her information, you can indicate that she passed away during 2024.
Send me any other questions that you have. If you have further questions that you’d like to discuss off-line, please go ahead and email me: contact.beccalee@gmail.com
More info/example here: ttlc.intuit.com/community/retirement/discussion/deceased-spouse/00/3146893#:~:text=You%20can%20file%20Married%20Filing,passed%20away%20during%20the%20year.
Thank you.
So i can basicly do my own accurate quote? Like i can go to a tax prep and do this to see where i can maximize my return ?
I actually have a video on using the TurboTax tax calculator. It is an even shorter version of the TurboTax filing. You only put in very basic information to see what you might owe or get back. If you don’t want to put in all information and make an account on TurboTax, you can use his calculator to estimate how much you will get back or have to pay before you go to a tax preparer:
turbotax.intuit.com/tax-tools/calculators/taxcaster/
If you get confused on the website, search for my video to see how to walk through it.
You can use this tool to see if it’s worth filing on your own or going to a tax preparer and if they are worth it.
How do I file without paying the taxes at the same time. I can pay in a few weeks but not by the 15th
You’ll choose “pay by check”, and then use the IRS website to set up a payment plan.
Hey thanks for your help…
Also, rewatch your video, at 29:57 in the video, you show your SSID. Please go edit it before it get in the hands for the wrong person. I couldn’t find a way to dm you private about this. I’m sorry
It’s a fake ssi. Thank you for caring though!
🤔
Hi Becca, I do my own filing on Turbo tax. This year, I am in Thailand until late April. I have tried to log into my account and for my second verification, they always want to text my US SIM card, but this is not an option with my Thai number, which I tried to substitute. There is nothing on their website at all about using a difffent method, like email, to get my login approved...and there is no Chat help. Has this been a question previously for you?? I appreciate any info you can provide. Thx in advance
Looks like you can verify in other ways. More info here: ttlc.intuit.com/turbotax-support/en-us/help-article/security-risk/account-recovery-request-turbotax-account/L3GhqZLVE_US_en_US
It looks like you can use the recovery account form to submit identification showing that it is your account.
I hope this helps. Let me know what happens.
Hello, Becca, thanks for this video. When submitting tax documents is it okay the documents I upload are pictures of the documents made with my smartphone and turned into a pdf? Is it possible those documents would be rejected? My Social Security award letter would have to be uploaded like that
I’ve done this before and it has worked just fine. As long as it’s a clear picture, you should be good.
"Grab some coffee or something stronger."
Now I'm freebasing and doing my taxes in record time.
Ha! Love it. *high five*
Based
No pun initially intended
@@mannmann314 💀
What if they’re asking for a 1095 a but you don’t have that insurance
Then you’d state that you don’t have insurance. There may be a penalty that you have to pay depending on your situation.
Has turbo tax ever told you to enter your foreign source amount when it checks for errors? It's supposedly in the 1099 but I'd only find a percentage and the form says I paid 0 on foreign taxes. Where do I find it?
I’ve never had this come up for my own filings. I did find an answer for you though. Check this link out: ttlc.intuit.com/community/tax-credits-deductions/discussion/what-does-foreign-source-amount-must-be-entered-mean-where-do-i-find-this-number/00/592666/amp
what section do i report any gambling winning?!?!?
about 2k in winnings and it was not out of state please and thank you!
It will be listed in income, “other income”. You’ll use the form w-2g that you got from the casino/vendor and import that information. If you didn’t receive that form, you can still list it under the same section.
More info here: blog.turbotax.intuit.com/income-and-investments/heres-how-gambling-on-college-and-professional-sports-affects-your-taxes-42523/
Hi there. First, thank you very much for your video. Second, on form 1040, I have been carrying an amount on 5a and for 2023 in 5b will be $2,909. How I can fill it?
Can you clarify what you mean by “carrying”? Did you receive pension and annuity payments during 2023, or do you have them from previous years?
If you received a 1099 for your pension payments received, then you’d enter that into TurboTax. TurboTax will then put it into 5a and 5b.
Some links that might help:
ttlc.intuit.com/community/taxes/discussion/irs-pub-17-says-that-pensions-and-annuities-should-be-entered-on-1040-sr-lines-5a-and-5b-on-my/00/1910710/amp
www.irs.gov/e-file-providers/line-by-line-instructions-free-file-fillable-forms#:~:text=Line%205a%20is%20a%20manual,the%20right%20column%20(5b).
www.thebalancemoney.com/pensions-and-annuities-3193176
Thank you
And I have a question is
Turbo tax said I missing “province”
Do you know what’s that meaning?
Are you using the Canadian one? If you’re in Canada, or selected to file taxes for Canada, it’ll ask you for a province. If you’re in the US, then double check to make sure you didn’t put down Canada.
Ok so i haven't filed my taxes and ive been working since 2015 is there a way to find and do all of those
Yes! TurboTax allows you to backfile taxes, but you may end up paying late penalty fees to the IRS if you owed taxes for any of those years. In the flip side, you could also collect refunds for previous years as well.
Here’s more info from TurboTax :
turbotax.intuit.com/tax-tips/irs-tax-return/how-do-i-file-back-tax-returns/amp/L535BxMms
I want to do Tax training like you,where do i start?
I just started on TH-cam here with my own experience. Different vendors offer different training. You can start with H&R Block if you’d like-I’ve heard that their training is decent.
If I pay estimate tax quarterly for 2023, where do I apply when filing my tax return?
You’ll enter there in the estimates and other taxes paid section.
More info here: ttlc.intuit.com/turbotax-support/en-us/help-article/tax-payments/enter-estimated-tax-payments/L4g2XTu9Z_US_en_US#:~:text=If%20you%20made%20estimated%20or,what's%20described%20here%2C%20learn%20more.
@@everydaywithbecca Thank you!
@@khoale1537 You're welcome! Reach out with any other questions.
I have a question. If doing the next tax filing on turbotax, will it be the same thing when doing them again and repeating the questions it'll show before doing the taxes?
Are you talking filing for someone else? Or what “next” filing? Generally, TurboTax follows the same questions and only deviates when you answer with something that requires more info. For example, “yes to kids”… then you’d fill out your kids’ info. Then you’d come back to the regular questions.
@everydaywithbecca Thank you, and I was asking, like, when filing your taxes like your tax return when you have to do them again. Do they repeat the same questions to update info?
Sorry if that one confused you.
@@PositivelyMoore if you use the same account to file next year, they will ask you about old accounts. if you are working at the same job, they will give you the option to just update the numbers. For example, if you worked at US Bank, they would ask you “ did you get a W-2 from US Bank?”.
This is why it’s best and easiest to use the same account to file every year. Saves you time in the future.
@everydaywithbecca ok, Thank you.
@@PositivelyMoore you’re welcome!
Hi we are five family members 3 children and mom dad we three children a dependent but we didnt get tax return how to check and fill the tax again by turbo
Did you prepare a tax return last year? Just because you have dependents, and a family does not mean that you will get a refund. Depending on how you pay taxes on each of your paychecks, you could actually owe money. if you’re confused at all, you should check out my W-4 video for more help on making sure that your taxes are lined up during the year so that you get a refund or pay a minimum amount.
On my form box’s 7,8,10,11 have 0.00 in them. Do I leave that blank?
Yes, just leave them blank.
For the portion that asks about did you have any expenses as a teacher, does homeschool teaching count? I have curriculum, supplies, ID cards, travel, ect. Thanks :)
Did some digging-it looks like homeschooling isn’t categorized as an educator expense. Depending on your state, you may be able to file for other deductions regarding homeschooling.
More info here-scroll through it for the links to the qualifying states that have credits you can look into:
ttlc.intuit.com/community/tax-credits-deductions/discussion/can-i-claim-teacher-expenses-for-homeschooling-my-elementary-student/00/511381/amp
Hi Thanks for your video. i have a 18 yo son who has W2. I will claim him as dependent but where to put his w2?
Hi there! If your son has a W2, then he has to file his own taxes. The only income that you can claim as a parent is interest income and dividends.
Because you are claiming him and he is your dependent, make sure that when he files his return, he marks down that someone else is claiming him, and he is dependent on them.
If you want more detailed information, you can check out Turbotax’s link here: turbotax.intuit.com/tax-tips/family/should-i-include-a-dependents-income-on-my-tax-return/amp/L60Hf4Rsg
Let me know if you have any other questions. Good luck this year!
So if I’m 18 and is still living with my parents I’ll have to check “yes” for “Another taxpayer can claim me as dependent on their tax return”?
@@angelabravo6767 it depends. Do you pay rent? Do they cover most of your expenses? If they do, then yes, you would be claimed as a dependent. Also, check with them to see how they are claiming you. If they’re claiming you as a dependent, then you can’t claim that you’re not a dependent.
What if you pay rent , I’m currently renting a room for $700 a month . Bad enough you can’t even add your phone bill or grocery expenses .
That’s kinda why I always go to someone in person but H&R charges allot
Unfortunately, federal taxes, do not give you a break or credit for paying rent. However, your state might. I would do a search on Google to see if your state offers a renters credit, and if it does, then TurboTax should bring you to that section when you start doing your state taxes.
Can you do a video on llc for turbo tax ? It would be viral nobody has a good video on it
Hello! I’ve got it timed for the 2025 year. Stay tuned!
So I want to understand the state taxes part. Thanks
What part is confusing to you?
@@everydaywithbecca I live in Florida and when I do my taxes on turbo tax . It gets to the state taxes part and it says it doesn’t apply to me because of a few different points. So I skip it. I’m completely ignorant to everything in regards to doing taxes and I hope I’m not doing anything wrong by skipping the state taxes. Thanks!!
@@wutuvuworld8239 Hello! I did some digging and found that Texas is one of the few states that doesn't impose income tax on their residents. They do impose business taxes on business owners though. If you don't own a business, then this may be a reason why you don't have to pay income taxes and can skip the state section. Yay for you!
More info here: www.hrblock.com/tax-center/filing/states/taxes-in-texas/#:~:text=Texas%20is%20one%20of%20a,levy%20taxes%20on%20business%20income.
@@everydaywithbecca Thankyou so much!
@@wutuvuworld8239 I just realized I misread and looked up Texas. Face palm* lol. Sorry! BUT, Florida is like Texas and does not have state taxes.
More here: smartasset.com/taxes/florida-paycheck-calculator#:~:text=Overview%20of%20Florida%20Taxes,retirees%20and%20tax%2Daverse%20workers.
What about filing a 1042 S that I got for modeling although I am a resident alien for tax purposes they sent me this because I am a can citazen but living and working full time in the US with a work permit. I would need to claim expenses also from that income as self employed. How do o input the 1042S? I also had 1099’s for a different type of work like yoga/ meditation instructor
You'll enter both forms in the income section, under "other income".
More info here:
ttlc.intuit.com/community/taxes/discussion/where-to-enter-this-1042-s/00/1363695
Even if it’s self employment income? Can I claim my buisness expenses still. My accountant last few years added it in with my buisness income
@@rosem4741 if you’re filing business taxes as well, it depends on your business and preference.
Here are some helpful links:
ttlc.intuit.com/turbotax-support/en-us/help-article/sole-proprietorship/file-business-personal-taxes-together/L0GTsGE9R_US_en_US
turbotax.intuit.com/tax-tips/small-business-taxes/llc-tax-filing-rules/amp/L39E29kPR
www.ml.com/articles/tax-tips-for-small-business-owners.html
www.bench.co/blog/tax-tips/small-business-tax-deductions
So if it gets reported as other reportable income on turbo tax I will be able to still claim expenses because it was income from self employment?
Because if it shows up as other income because that’s the only way turbo tax lets me input the 1042s how will I include that on my schedule C for modeling income? It’s a bit confusing
@@rosem4741 It sounds like you a sole proprietor--if you are, you can file everything in your personal taxes under schedule C. TurboTax allows you to enter your self-employment income (1042S) as well as expenses all together. It then finds your "net income" and reports all of it in schedule C. All you have to do is enter your income, then list your expenses (TurboTax will walk you through this after you add self-employment income into your online filing).
hi, i am filing with turbotax for the first time. I am wondering how i can file for medical expenses such as IVF.
Here’s more info from TurboTax: turbotax.intuit.com/tax-tips/health-care/can-i-claim-medical-expenses-on-my-taxes/amp/L1htkVqq9
From what this says, only medically necessary treatments and costs are deductible.
What if I didn’t file my taxes last year and I want to file this year is there anything that I do different?
Nope. You’ll just select “I didn’t file last year” on the beginning and start fresh this year.
If you go threw all the trouble to file a tax return with Turbo tax...and at the end they say you have to send a printed copy to the IRS...that seems to defeat much of the reason to use Turbo tax...I mean why not just get the paper forms and fill them out and mail them in. That said...I am wondering if you know...if you do fill out the paper forms yourself (no turbo tax) and send them into the IRS.....when would you guess you could get a copy of your tax transcript for 2023 taxes?
The forms can be tricky and confusing if you don’t know how to fill them out. TurboTax offers a simpler way to complete them. Instead of doing the math and looking for boxes yourself, you just answer questions and they fill it out for you.
Transcript timelines: www.irs.gov/individuals/transcript-availability#:~:text=allow%206%2D8%20weeks%20after,in%20mid%20to%20late%20June.
Does filling jointly would automatically be a deluxe upgrade?
It shouldn’t. An upgrade will be from having other tax situations like maximizing deductions and donating to charity.
Becca is everything alright?
Yes. Why did you think otherwise?
Question is this all done on turbo tax website? Also in 2023 my only income was from uber food delivery...ps i never filed my own taxes before...thanks
My whole tutorial is done on the TurboTax website. Some people prefer to buy the software and do it on their home computer. Even if you do it this way, the steps are very similar.
If you are filing as a single person, you would have to make at least $13,850 in 2023 to be required to file taxes. If you did not make this much, you are not required to file. Or, if you are filing under a different filing status, then there are other gross income requirements.
Let’s meet this girl in income and are required to file- at this point, you would use the 1099 - K that you receive from Uber to report your income. To find it in TurboTax online, just use the search bar and type in 1099 - K. You should be able to “jump “to that area and start filling out your information.
this is my first time I try to do my own tax filing. I have a question where do I find to put in my first time buyer credit payback. I bought my house that year. I was qualified for $7500 as join tax account. Please advise.
In my experience with this homebuyer credit, it is generally found in the form of some type of second mortgage. You should receive some kind of 1099, for any interest you paid towards this credit/loan during the 15 year period after you first purchase it. If you sell your home before this. And pay back the full amount, then you will fill out form 5405 and attached that to your taxes. From what it sounds like, since he just bought your home, and aren’t selling it yet, then you should be receiving some kind of proof from your bank account or the mortgage company about the payments that you have been making towards this payback. Look to see which form you have been issued, and if it is not a 1099, then use TurboTax search bar to make sure that you were inputting it the correct way.
I’m curious to see what form you have. If I don’t see this later on within the next day, please email me and let me know if you need more help.
look like Turbo Tax pull all my info from IRS once I fill in my info and it's show up on the tap I own a home. I done filing my tax and submit Efile. I can't believe it I did it with watching your video.Thank you for your help it's a good video. @everydaywithbecca
@@MinhNgo-qj1bt congrats on finishing your filing! So proud of you! Definitely reach out if you need any more help. 💛
@@everydaywithbecca
I searched on website how to file tax return using Turbo Tax and I found you on TH-cam so watched your video and some other so I decided to go head and give it a try. Thank you so much it’s really appreciated your help.
@@MinhNgo-qj1bt wow! Thats great to hear. Happy it worked well for you this year!
Can you show a video if you opened a new business in 2023, only poured money into it, just started taking
clients ☺️
I don’t have a video on this topic and I don’t believe I will be making one this year.
For now, here is some help:
If you haven’t made any money yet in 2023 from your new business, then there is no income to claim. The only way you would have in income to claim is if you got any kind of interest from your bank account for that business.
The only thing that I would urge you to do is claim any business expenses that qualify as deductions.
If you use the search bar and search for “schedule, C “ then click “jump to schedule C “, TurboTax will bring you to where you can input, your self-employed, business, income and expenses. Income comes first and then expenses. You’ll be able to either import expenses from a bank account or you can do them individually.
Is this video For tax filing in Canada?
No. My example is for the United States.
@@everydaywithbecca ok , Thank you
At the end, this software let me do print as a hard copy, if I do efile?
Yes! You’ll be able to print a copy or save it as a PDF. you can also always go back into your account and save/print it in the future if you lose that copy ever.
at what point does turbo tax ask if you made any payments already for the tax year ? i owe 300$ but i prepaid already 3000 for the entire year so when does turbo tax ask me to enter that info ? in this case i would get a refund of 3000-300 = 2700. Do we enter this info after the payment page ?
It should have already asked you. If it didn’t, search for “estimated tax payments” and “jump to” that section and input your data.
@@everydaywithbecca thank you much. I had to manually add the estimated tax payments and it worked :)
@@jdoit400 yay! Glad it worked out. Good for you for prepaying too. Best of luck!
Where do you put your direct deposit information at
It will be at the end when you’re ready to pay/set up your refund method (if you’re getting a refund).
If it's only me no children or no dependents other than myself....... Aren't I supposed to put a 1 for a zero???? And why
1 for 0 on your tax return, or on form w4?
@@everydaywithbecca sorry I goofed, that number is on the W-2 form, but not needed when doing the taxes. Ty. Anyway
Hey so my state taxes keep being rejected, i sent my forms to my uncle who is an accountant and he said the math is all good but there is a portion where it asks if my occupation requires a license or certificate(which it does, my food handlers). Turbo tax has that yes or no question left blank, i tried changing my occupation from barista to food service and it didn't fix it. I know there is a way to edit your tax forms manually instead of step by stop by clicking the ''forms icon'' where is that and how do i do it. I was able to do it once when turbo tax thought I was missing my email in one part but I don't know how to get back. Help!!!!!
I'm in the windows version on a desktop
Hello! I did some digging for you, and it looks like only the desktop version of TurboTax allows for the forms mode. If you have the desktop version, you click the forms icon (should be located on the top bar of the software) to get you to the place where you can manually edit forms. Once you edit this, you can go back to step-by-step mode by clicking “step-by-step”. If you are using the online version, this is not possible. The only other way I can see you being able to file is if you select the “mail my return” at the end and use a program like Adobe acrobat to edit your PDF before sending it in via mail to the IRS. This would allow you to manually change whatever you need to on the form. The only downside is that you manually mailing the form, it’s going to take longer to be accepted and processed then if you were to electronically transmit it.
Gotcha! Sorry. Don’t see this first. It should just be the “forms” icon at the top on the bar. Let me know if that works!
Can I go back to the beginning to remove dependents?
Yes! Go to the “your info” tab/section, and then delete dependents as needed.