TurboTax is the best tax preparation software with easy usability and is a money well-spent software. This software has been introduced its different versions determining the requirements of the different business sector. With TurboTax, you can easily generate reports that can further help you verify and file taxes with ease. Like any other report, TurboTax is bifurcated in lines. This helps one figure out what the section is all about like line 101 TurboTax represents employment earnings. Today we will help you explore everything on line 101. Some of the common questions that will be answered today are:
- What line 101 in TurboTax is all about?
- Where to find it?
- How to find the amount entered on line 101 etc.
But before jumping onto TurboTax lines it is important to understand what the platform actually is and how it can be used.
A bit about TurboTax…!
The different versions of TurboTax are Basic, Deluxe, Premier, and Home & Business. Every new version of the TT program is designed on the previous platform. The new updates provide the user with some extra features based upon your requirements in tax preparation.
The TurboTax software is also capable of successfully importing financial data from the previous year’s TT account. The import can also be done by integrating TurboTax with other accounting or tax preparation softwares. This feature does not need to input tons of data and reduces the chances of errors that helps to save time.
TurboTax software also authorizes the users to import the W-2 and 1099 data from over thousands of companies.
TurboTax also allows you to e-file up to five tax returns for free, which is a great benefit to the users.
The program comes with simple and easy usable features. But if you are a beginner then you may need some assistance regarding the software handling. If this is so then you can reach out to TurboTax expert professionals and get all the help you need.
What is Line 101 in TurboTax?
Line 101 within your Tax accounting program indicates the report of your employment earnings. It refers to the employment income that comprises of all the amounts you receive from your company like:
- Increments and
- Honoraria ( a payment given for professional services that are rendered without any charge).
Where is Line 101 Found?
To view Line 101 TurboTax you need to follow the steps given below:
- Go to the right side on the top and click tools tab.
- From the window that now appears, choose to click on the tax summary tab.
- Now, click on detailed tax summary.
- You can now view the line 101 in the first line.
In case you want to locate Line 101 from a Tax return of any specific year follow the steps mentioned below:
- Go to Review,
- Click on the bottom Line Tax Summaries,
- Now choose the detailed Tax Summary at the Bottom of the Page. The comprehensive summary will lay down the detailed summary by line item. It gives a complete overview of the tax return.
Where Can You Find the Amount Entered on Line 101?
For viewing the line-by-line summary of your Tax return in TurboTax Online editions you have to follow the below steps:
- Choose the arrow on the left beside the refund ticker.
- Choose the View detailed summary link to directly go to the detailed summary.
When the payment is done for your TurboTax Online return, you can now download a PDF of your completed forms. This you can do by going to the bottom of the page in the Bottom Line summary. You are not supposed to worry and continue to work on your return and make further changes once the payment is done for your return. For downloading the copy of your tax forms you need to follow certain steps.
Steps to Download a Copy of your Tax Forms:
- Instantly clear all the payments for your TurboTax return.
- Go to the navigation menu and then select Review tab.
- Scroll down to the bottom and click on the line for the Tax Summaries. These can be found on the main menu tab.
- Choose the Review T1 option and click on the general link tab. This will download your file in a .pdf format.
The steps will easily help you to the download a copy of your tax form.
Hope now you are all sorted by your query on “Line 101 TurboTax”. In case you face any difficulty you can contact Intuit customer care support. The Intuit customer support roofs experienced tax experts who are capable and competent enough to handle all your queries and errors. You can reach them by email, phone and live chat option.
To get in touch with them, simply give us a call and we will connect you with our most experienced Tax professionals to help you resolve your issue.
You can Contact Intuit TurboTax by Phone and talk to our Proadvisor now.