Business & farm

it gave me an option, and now I can't go back to it.

I have to file a MA return and it does not populate correctly with the K-1 Form 1041 dividends in Schedule B of the Federal form.  I need the number to be in the form for the trust so MA doesn't think the income is zero.  Should I override TT and delete the trust dividends from Schedule B and put them on the trust form?  Is there a better way to make sure both my Fed and MA returns are correct?

Your directions say to create a 6252. Now you are saying you do not know how?

Schedule K1, 1065 Sec 199A, Box 20, Code Z. The LLC posted a $50K loss on this line. TT deducted it from my income on Schedule E. But this passive loss to the partnership is not mine personally. How can I correct this?

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where do I put the 6,000 dollars for people over 65

I need to talk to someone who can help me and hopefully screenshare.

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im trying to fix my K-1 1120s. column 17. normally V-see stmt for my business deductions. this year V is 199 my deduction amount is there but apparently this is added income now?

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where do i find the st-sp

Why didn't i have to file schedule C ?

I have entered all the requested information from my K1s into the form fields but the Income Summary for the K1 section is zero. The information is displayed on the appropriate forms/worksheets. Using TurboTax Premier. 

When trying to load for quick employer forms I get "Failed to import data from tax file. Error occurred while parsing the data from tax file." I verified it is the tax2023 file. Any help is appreciated

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I am getting errors on Federal Review for a blank Form 1065 that is not filled out and it is asking me to complete. The error is the title of this post: "K-1 Entry Wks-Partnerships (Untitled): Partnership Name has not been entered" What's really strange is the form has the "Partner's Name" as the registered name of our S-Corporation (Partnership), rather than one of the two actual partners. This seems like the software for some reason drafted an extra form 1065, even there are only two partners, each with 50% ownership.  How can I get past this?

I am the trustee of a First Party Special Needs Trust for my child. Income from the grantor trust gets passed to my child at our rate (aka the kiddie tax) as my child is claimed as a dependent on our taxes (income is well into the 5 figures so well above $2700).  I filed the trust taxes (Form 1041) and I'm working on my child's now (Form 1040). I was able to manually add form 8615 for the Kiddie Tax, which gives me the correct tax due on my child's federal taxes. However, I notice the state taxes are using the federal itemized deduction to calculate taxes due. (my child's medical expenses all them to itemize at the federal level, but it is overridden by form 8615). How does form 8615 affect state tax due, if at all? Is TurboTax computing this correctly?

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In the box 14 of the form 1041, I have a H with a -$16,961. How do I get it to populate the Form 8960?

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How do I bypass Tennessee, if it doesn't have a state tax and isnt on the dropdown list

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