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To clarify, you didn't take your RMD in 2024 but took it in 2025 since you just turned 73 in 2024?   If yes, then you do not report a 1099-R on your 2024 return. You will report it next year on your 2025 return when you get the 2025 Form 1099-R. Please make sure you also take the RMD for 2025 by December 31.   You will need indicate in TurboTax that you didn't fail to take the RMD:   Click on "Search" on the top right and type “1099-R” Click on “Jump to 1099-R”  Continue until you get the "Did You Miss a Required Distribution From Any Retirement Accounts?" screen select "None of these plans failed to withdraw the RMD".

The withholding should remain assigned to the return whose identifying number is listed. It's difficult for the IRS to adjust or change the withholding on a tax return and is not a good method. If there is excess it will be refunded on the return of the deceased (Form 1040). Filing Form 1310 will allow you to receive the refund in your name or the name of the estate depending on your information provided.   We are sorry for your loss.

Is the IRS form 1099-K reporting proceeds into your personal income tax return, a business tax return or a not-for-profit organization?  Please clarify.   If the proceeds are reported on your personal income tax return, are you running it through self-employment income on a Schedule C Profit and Loss From Business?

The monthly fees are a deduction on the estate because it is a cost of obtaining interest income. List this as 'Other deductions'. However, they should not be used as an adjustment to the interest income. The IRS will look for the full amount of the interest on the tax return.

Thanks for the help! For anyone else struggling with this issue, the key point was to select that we only received this money in 2024. Because her maternity leave straddled 2023-2024, we did actually receive it in both 2023 and 2024, but selecting that option made TurboTax treat it like a business instead of a benefit. When we took 2023 out, we were allowed to go onto the question about whether there was an intent to earn money.

You may answer No to receiving an IRS form 1099-K.   As @RobertB4444 states, the IRS is looking for the IRS form 1099-K proceeds to be reported somewhere on your tax return.  If the IRS form 1099-K reports $5,000 in income and your Schedule C reports $50,000 in income, the IRS presumes that the IRS form 1099-K proceeds have been reported.   Retain copies of all your paperwork should a tax authority have a question at a later time.   @mootzie55   

You are posting your question from online Deluxe, which is one of the paid do-it-yourself versions.   https://ttlc.intuit.com/turbotax-support/en-us/help-article/change-service-level/downgrade-lower-priced-version-turbotax-online/L2IDaMvkt_US_en_US?uid=m5ydiw67      If you started in the Free Edition and entered any data that required any extra forms or schedules, you have to upgrade to a paid version and if you are watching the screens carefully you are alerted to the upgrade.       TurboTax Online: Important Details about Filing Simple Form 1040 Returns If you have a simple Form 1040 return only (no forms or schedules except as needed to claim the Earned Income Tax Credit, Child Tax Credit or student loan interest), you can file for free yourself with TurboTax Free Edition, or you can file with TurboTax Live Assisted Basic at the listed price. Roughly 37% of taxpayers are eligible. Examples of situations included in a simple Form 1040 return (assuming no added tax complexity): W-2 income Interest, dividends or original issue discounts (1099-INT/1099-DIV/1099-OID) that don’t require filing a Schedule B IRS standard deduction Earned Income Tax Credit (EITC) Child Tax Credit (CTC) Student loan interest deduction Taxable qualified retirement plan distributions   Examples of situations not included in a simple Form 1040 return: Itemized deductions claimed on Schedule A, like charitable contributions, medical expenses, mortgage interest and state and local tax deductions Unemployment income reported on a 1099-G Business or 1099-NEC income (often reported by those who are self-employed, gig workers or freelancers) Stock sales (including crypto investments) Income from rental property or property sales Credits, deductions and income reported on other forms or schedules  1095A for marketplace health insurance     How can I see my TurboTax  fees?  https://ttlc.intuit.com/turbotax-support/en-us/help-article/intuit-account-billing/review-fees-turbotax-online/L1XnIzgzg_US_en_US?uid=m682vq7k   If your TurboTax fees are higher than expected, you can reduce them by removing add-ons     (BEFORE you e-file) :   Remove Premium Services Remove MAX Defend & Restore Remove a state Remove PLUS Help & Support Remove Pay With Your Refund     Or—-Use this IRS site for other ways to file for free.  There are 8  free software versions available from the IRS Free File site   https://apps.irs.gov/app/freeFile/   Or—if you live in certain states you may be eligible to use the new IRS Direct File     In Filing Season 2025, Direct File will be available in Alaska, Arizona, California, Connecticut, Florida, Idaho, Kansas, Maine, Maryland, Massachusetts, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Oregon, Pennsylvania, South Dakota, Tennessee, Texas, Washington, Wisconsin, and Wyoming.    https://directfile.irs.gov/   https://home.treasury.gov/news/press-releases/jy2629  

Yes. You can and the nominee actions could provide a better avenue if you see the wrong amounts. Enter only the amounts that belong on the estate by editing the actual amounts, and on your mother's final return. Next, view the forms to see your changes.   Then use the information below to actually nominee the amounts so that the IRS has the data.   Nominee Returns.  This is how the IRS knows what you are doing. Generally, if you receive a Form 1099 for amounts that actually belong to another person or entity, you are considered a nominee recipient. You must file a Form 1099 with the IRS (the same type of Form 1099 you received).  You must also furnish a Form 1099 to each of the other owners.    File the new Form 1099 with Form 1096 (this is a transmittal for the 1099) by mailing to the Internal Revenue Service Center for your area. (Provided on the Form 1096) On each new Form 1099, list your mother as the payer and the other owner, as the recipient. On Form 1096, list your mother as the nominee filer, not the original payer. The nominee is responsible for filing the subsequent Forms 1099 to show the amount allocable to each owner. The forms filed with the IRS should be the red copy so if you don't have a color printer, go to the IRS website to complete and print the forms here: Use only the ones you need. Form 1096 Form 1099-INT Form 1099-DIV Form 1099-S Form 1099-B We are sorry for your loss.

From the TurboTax home screen go under Deductions and credits. Scroll down to +Add tax breaks. A menu will open. Locate Charitable Donations and select “Import from ItsDeductible Online”. See image below for reference      ItsDeductible Online Tool  

If you haven't taken the RMD then take it as soon as possible.   You can request a waiver of the penalty if you have reasonable cause. Please see Relief for Reasonable Cause for additional information.   If you do not have a Form 1099-R from an inherited IRA or are 73 to trigger the RMD questions then you will have to use "forms" mode to file Form 5329 which is only available with the TurboTax Desktop software:   Enter the forms mode and click on "Open Form" and type "5329". Scroll down to Part IX line 52a and enter the RMD amount that should have been taken. On line 53a enter the amount of the RMD that was actually taken (probably zero if it was missed). Then in the box right under line 53 "Waiver of Tax Smart Worksheet" enter the same amount as line 52 (the RMD amount) under A.  Click the "Explanation" button and enter the reason for missing the RMD and your statement requesting a waiver.

To report your 1099-Misc form: Go to Income and Expenses.  Scroll down to Other Common Income Select Start next to Form 1099-MISC Enter info from 1099-MISC, Describe the reason for this 1099-MISC, and Continue On the screen Does one of these uncommon situations apply?, Choose None of these apply  Select, No, it didn't involve work like my main job Select I got it in 2024. Select, No, it didn't involve an intent to earn money.      

From TurboTax help content, the 'other income' category includes:   - Interest income - Dividend income - Retirement income - Taxable Social Security benefits - Income from S corporations, estates and trusts, and partnerships (but not partnership self-employment income) - Rental properties (or your allowable losses from rentals) - Any other miscellaneous taxable income or loss you expect to have next year   The best thing you can do is to go through the estimated payments section and adjust the expectations for your 2025 income so that you can see and understand what is going into the calculation.  Use the steps in the following TurboTax help article to do this:   Can TurboTax calculate next year's federal estimated taxes?   @fredmbogard 

No.  You cannot claim the expenses until you open the business.  When you do open the business, you can claim these as start up expenses.  This means you will still be able to claim the expenses, just not in the year you put the money out.    Start-up Business Tax Tips

You are entering an IRS form 1099-K income which reports rental property income into your rental activity on IRS Schedule E Supplemental Income and Loss.   Is the income posted outside of the rental property activity and directed towards the rental property activity?  I would enter the form from within the rental property activity.   In TurboTax Premium Online, follow these steps:   Down the left side of the screen, click on Federal. Down the left side of the screen, click on Wages & income. Click to the right of Rentals, Royalties, and Farm. Click to the right of Rental Properties and Royalties. At the screen Your 2024 rentals and royalties summary, click the pencil icon. At the screen Here's rental property info, select Add income to report rental income. If you select Form 1099-K and have the same issues, remove this entry and report the same income using the selection Cash, check, and electronic payments.