I used TurboTax in 2020 to file my taxes and took a 401K coronavirus-related withdrawal, spreading it over 3 years with one-third paid back in 2020. I realized I forgot to report the remaining 2/3 on my 2021 taxes and also noticed that TurboTax did not populate a Form 8915E for 2020, even though I reported the withdrawal as coronavirus-related. How do I amend both my 2020 and 2021 tax returns to correct these issues?

March 19th, 2024

I filed my taxes last night for both state and federal. When I checked, I got a message from the federal return that it was rejected because of an error with the last name. I fixed the name and sent in an amended 1040X. The state return accepted the incorrect name. I refiled my amended federal return but noticed there were no amounts in the boxes, just 0's, and no refund showing unlike the first return. Was I supposed to fill in all the boxes on the amended form that were in my first form? I am confused and don't seem to be getting any of this amended stuff right. Could you explain all this?

January 12th, 2023

How do I verify my identity using the IRS 5071C form?

June 9th, 2023

Can a 75-year-old client with $700,000 in a traditional IRA, who is still working full-time and making $100k per year, selectively transfer stocks from a traditional to a Roth IRA? If so, how would this be taxed, and can he choose to transfer stocks that have lost money or have nominal gains?

December 25th, 2024

My husband is a truck driver who leases his truck and receives a 1099 each year. We filed our taxes and received a refund but were not asked to pay taxes. What does this mean?

October 26th, 2024