Solved

I made excess contributions on Roth IRA in 2022 and 2023, only withdraw the contributions in 2025. I have filed amended return and paid for the 6% penalty for 2022 and 2023 (2024 tax is still preparing). The question is that do I need to withdraw the earnings from those contributions as well?

No text available

Working on my LLC California tax return with Turbotax Business 2024. There does not seem to be Form 3804 (2024 Pass-Through Entity Elective Tax Calculation) available, just 3893 payment vouchers. I did file successfully last year and 3804 was there. Is it coming soon?

I am working in the section that asks about Form 5498 and Turbo Tax has asked "Tell us the value of your traditional IRA".  Would that be the total rollover contributions or fair market value of the account?

Will this ever get resolved?? Been waiting since 1-28-25 because I was told Form 8915-F and the qualified disaster distribution section would be ready 2-21-25. It's now 3-2-25 and nothing has changed! Customer service is useless and keep saying it should be ready in a couple days or they don't know every time I call. Does anyone know anything? 

I have received a schedule K-1 from an investment using my solo 401K funds. In this schedule K-1, on line I1, the form indicates IRA and on I2 it is checked to indicate this is from a retirement plan. Do I need to enter this into Turbotax business under the section schedule K-1? If yes, how do I indicate this is related to an IRA/retirement plan?

How do I enter this situation in Turbo Tax? Let's say I got a 1099-K for $10,000 in Gross Proceeds. I sold 250 items on ebay. 220 of those items were sold at a loss and the Gross Proceeds for those 220 items was $9,000. For the other 30 items, I sold each at a small profit and the Gross Proceeds associated with those 30 items was $1,000. I entered my 1099-K on Turbo Tax and selected that some of the items were sold for no gain or a loss and entered $9,000 as the proceeds associated with no gains/loss. At this point, when I go to work on my specific entries on the 1099-K in the investment section, do I need to enter 250 separate items or do I need to account for only the 30 items of gain or do I need to account for the 30 items of gain and then create 1 single items representing the loss on the other 220 items? The instructions in Turbo Tax are not clear.  Please advise

No text available

Hello!  I am using TurboTax Desktop and attempting to enter the information for the state tax exempt fund TTTXX (BlackRock Treasury Trust Fund).  I was able to connect to Merrill Lynch and import my 1099-DIV, but this does not seem to have exemptions for the state.  For reference, I am filing in Illinois.  Any advice?  Thanks in advance!

Hello, I got married in 2023, but my wife and I lived in separate homes with our respective children until 2024 when we combined homes.  Therefore we qualified to file as Head of Household for 2023, but no longer do for 2024.  We are now filing as Married filing Jointly in 2024.  I am trying to efile our return and it is asking for the correct AGI.  On TurboTax help there is the following statement If you're filing jointly this year but selected married filing separately last year, enter each spouse's individual AGIs from last year. This also applies to newlywed couples.My problem is that turbotax doesn't let me enter our individual AGI's.  It is only letting me enter one number. When I began this return I had no way of gathering her information into the tool and it defaulted to just my information.  In any case, it is only showing one place to put the AGI and that has my information in it.  It do

Me and my wife filed jointly last year (printed and mailed). When I tried to e-file this year with our joint AGI from last year I got the spouse AGI mismatch error: "IND-032-04 - 'SpousePriorYearPIN' or 'SpousePriorYearAGIAmt' in the Return Header must match the e-File database". When we use 0 as AGI for both of us, we get the generic AGI error: "IND-031-04 - The primary taxpayer's AGI or Self-select PIN from last year does not match IRS records". I assume IRS has my AGI set correctly but doesn't have the correct AGI for my wife... I tried the various "return was not processed yet" options in TurboTax but couldn't get it to accept different AGIs for me and my wife. Does TurboTax support using the actual AGI for me, while using 0 for my wife? ---P.S. I should mention that my wife has a self-selected PIN, not sure if this is related.P.P.S. I'm using TurboTax Online Premium 2023 

Or is there an online portal somewhere I can pay that back?

I received a 1099s for a pipeline easement on undeveloped property that I own. Where do I enter this information in Turbo Tax Premier 2024? What information do I need to enter it? T Zerigue

I have a loss on my 1041 for TurboTax Business. I don't want to carry it back, so TTB tells me to look for the form in Other Forms You May Need. I have been looking around, and I can't find anything about Other Forms I May Need. An online search only brings up TT Home&Biz, which is not the program I have.Does anyone know what to do for this?

No text available

I'm getting this review error before submitting my taxes. It says I need to review my 1099-MISC worksheet from Robinhood and add something to line Schedule C. Anytime I enter something and save it, it keeps telling me I have to review it and won't let me submit my taxes. (See screenshots below)  

No text available

I live in WA state but own a rental property in OR. I'm trying to figure out what value should I enter in the OR section of my income for Rents, Royalties and Partnership, is it the total rent I received or the rent after deducting all the expenses and depreciation?  

Hello, First time with TT Business, I have a LLC for rental real estate that does not qualify for the QBI deduction, its a 2 person LLC. I manage the property and basically get 54% of Rental Income vs 46% for my partner to compensate me for my time. I have noticed and not sure if it matters since we are not electing QBI deduction that on Statement A - QBI pass through entity reporting, that Rental income is split accordingly(54% on mine, 45% on my partners) and UBIA of qualified as well according to these percentages.My question is can I override the UBIA of qualified to 50%/50%, it will not let me and keeps referring me back to 199A worksheet but I cannot figure how this will let me adjust to 50/50? 

For example, if the original cost is $200,000. It has been depreciated for a few years (say, depreciated $20,000 already). Now the Fair Market Value on the day of her death is $400,000. What should I do in Turbotax to step up the cost basis to get more depreciation? Should I simply change the original Cost Basis (i.e. $200 k) to the new step up'd cost basis of $300 k (i.e. 50% step up)? How about the amount that has already been depreciated in prior years (i.e. the $20,000)? Should I cut it in half (So the new depreciated amount will be $10,000) since my wife's part should be wiped off?

No text available

Bonjour,j'ai acheté la version deluxe en ligne pour 8 déclaration et on me demande de payer quand même pour transmettre chaque déclaration. est-ce normal

So my Dad passed away in 2024.  The 2 IRA's were split between 3 children.  There was a whole $94 short for the RMD.  However, this was met by a distribution from the inherited IRA as I was aware that it would be short and undertood this was the way to do that, that it must be withdrawn by the benificiary(ies).But in TT, when filing his taxes and putting in the 10990-R's, TT realizes he is short on the RMD and then goes into asking if a corrective distribution was made.  But then explains it's a 25% fine, or 10% if justified.  But since I did do the distribution from the inherited IRA by the end of the year (but I believe I have until the next year to complete it or at least until filing his taxes to avoid a penalt), so I don't quite understand how to put this into TT properly without having justify a corrective distribution which seems to imply it was done late and applicable for the fine, yet it was withdrawn by Dec 31st. Am I missing something in TT?&nb

Bonjour,  Mon oncle est décédé le 4 janvier dernier. Je me pose quelques questions pour la production de son rapport d'impôt. Les voici donc: 1- Dois-je mentionner la date du décès sur son rapport d'impôt 2024 ?2- Puis-je utiliser les formulaires 2024 pour faire l'impôt 2025 puisqu'il n'a vécu qu'un mois selon le gouvernement. Y a-t-il un impact financier à connaitre ?3- La déclaration finale c'est celle de 2025. Mais la T3 est-ce que nous pouvons la produire avec votre logiciel ?4- Est-ce que les crédits que TI calcul pour l'année 2025 sont calculer en fonction de la date de décès ou il y a une case à remplir et/ou cocher ? Merci de l'attention portée à mes questions et bonne soiréeLucie

If I receive $70K gift from parents in a foreign country and my spouse receives $80K as well. Do we need to file Form 3520? If Yes, does this form need to be submitted with tax return or can be submitted before tax filing? (e.g. If money is received in April 2024, can we submit this form in June 2024)