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The order in box 7 doesn't make a difference.   You will have to contact your financial institution to correct box 2a. Box 2a should only have the earnings listed but you had no earnings. Listing the distribution amount in box 2a is wrong.   Form 1099-R instructions state: "For a distribution of contributions plus earnings from an IRA before the due date of the return under section 408(d)(4), report the gross distribution in box 1, only the earnings in box 2a, and enter Code 8 or P, whichever is applicable, in box 7. Also, enter Code 1 or 4, if applicable."    

TurboTax recommends a contribution, however, how much you can deduct for IRA contributions is based on your MAGI, filing status, and whether you and your spouse have a workplace savings plan.   Retirement plan at work: Your deduction may be limited if you (or your spouse, if you are married) are covered by a retirement plan at work and your income exceeds certain levels. IRA deduction limits

IRS Publication 527, page 23, states:   When you change property you held for personal use to rental use (for example, you rent your former home), the basis for depreciation will be the lesser of the FMV or adjusted basis on the date of conversion.    FMV   This is the price at which the property would change hands between a willing buyer and a willing seller, neither having to buy or sell, and both having reasonable knowledge of all the relevant facts. Sales of similar property, on or about the same date, may be helpful in figuring the FMV of the property.    Figuring the basis   The basis for depreciation is the lesser of:    The FMV of the property on the date you changed it to rental use; or  Your adjusted basis on the date of the change—that is, your original cost or other basis of the property, plus the cost of permanent additions or improvements since you acquired it, minus deductions for any casualty or theft losses claimed on earlier years' income tax returns and other decreases to basis.  You do not mention a fair market value of the property.  The basis computed by the software was computed based upon the computation of 91 days / 366 days of the year.  

The IRS uses your prior year AGI to combat fraud.      You can find your 2023 Adjusted Gross Income (AGI) by: Looking at line 11 on page 1 of your 2023 Form 1040 Requesting a transcript of your 2023 tax return from the IRS. You can request your transcript online at the following link: Get Transcript    Please click on this TurboTax article for more information.    Check these items as well to ensure you have the correct number.  If you:  Filed late last year after mid-November or your return was processed after that time—try entering 0.  Amended your return last year—make sure you’re using the AGI from your original return, not the amended one. (If you only have a 1040X form, it’s on line 1, column A).  Rounded your AGI to the nearest dollar—be sure to round up when it’s 50 cents or more and down when it’s 49 cents or less.  Filed with your spouse last year—you and your spouse have the same 2023 AGI. (Don’t split the AGI amount or enter  0  for one of you).    Time-saving Tip: If what you entered is correct and you continue to get a reject, you won't be able to e-file. There's probably a data mismatch at the government, or some other situation beyond your control that prevents your return from being e-filed. In this case, your only option would be to print and mail in your return.    This article will give you instruction on how to print and mail your return. 

I am trying to e-file an amended 1040X return and turbo tax will not let me because it says I have not had the original 1040 e-filed tax return filed and accepted.  Per the turbo e-file status the original return has been accepted and I have the refund.  How do I get the turbo tax to let me e-file the amended return?

It depends.  Does he regularly receive this commission from the distributor or was it just a one time "Thank You" payment?   Since the distributor is not his employer, if he is working to earn money from the distributor, then this would be included on the Schedule C as self-employment income.   If this was just a one time thank you payment, then you can select Hobby which will just report it as Other income and it will not be subject to Medicare and social security taxes, just regular income taxes. This does not tell the IRS it is hobby income, it just tells TurboTax where to report the income. 

Last year I reported 1099 NEC as self employment income because I didn't know how to report it as Other income, ended up with schedule C and paid SE tax. Should I amend my 2023 tax return to correct that mistake before filing my 2024 tax return?

It would be helpful to have a TurboTax ".tax2024" file to see what is going on. You can send us a “diagnostic” file that has your “numbers” but not your personal information. If you would like to do this, here are the instructions for TurboTax Online:    From the left menu select Tax Tools.  Then select Tools below Tax Tools.  A window will pop up which says Tools Center.   On this screen, select Share my file with Agent.  You will see a message explaining what the diagnostic copy is. Click okay through this screen and then you will get a Token number.  Reply to this thread with your Token number and add @DanaB27 . This will allow us to open a copy of your return without seeing any personal information.     The instructions for TurboTax Download:    On your menu bar at the very top, click "Online" Select "Send Tax File to Agent"   Click "Send" The pop-up will have a token number Reply to this thread with your Token number and add @DanaB27 . This will allow us to open a copy of your return without seeing any personal information.     We will then be able to see exactly what you are seeing and we can determine what exactly is going on in your return and provide you with a resolution.

It depends. Choosing the Foreign Tax Credit (FTC) instead of the Foreign Earned Income Exclusion (FEIE) for 2024 would not automatically revoke your ability to use the FEIE in 2025. Revocation of the FEIE occurs when you explicitly state that you are revoking it on your tax return or amended return for the first year you do not wish to claim the exclusion. Since you do not qualify for the FEIE in 2024 due to not meeting the Physical Presence Test (PPT) or Bona Fide Residence Test (BFRT), you aren't technically "revoking" the FEIE by opting for the FTC.   For 2025, if you meet the PPT or BFRT and qualify for the FEIE, you should be able to claim it without issue, provided you haven't explicitly revoked it in prior years.   Revoking your choice to exclude foreign-earned income