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If you want to make changes or add a document to a tax return that has already been filed and accepted by the taxing agency, you should follow these guidelines.    You must first wait until the initial return is completely processed. You will have to use the same TurboTax account that you used for the original tax return. Once you begin your amendment, you'll see your original return. The refund calculator will start new at $0 and only reflect the changes in the refund or tax due Only make changes to the areas of your return that need to be corrected. You have three years from the date you filed your return or two years after you paid the tax due (whichever is later) to file an amendment Select your product below and follow the instructions.  Amend TurboTax Online  Amend TurboTax CD/Download 

Thank you!!!! Do you by chance know why Turbo Tax Home and Business when I check the box that I did dispose of my business does not prompt me to answer the questions for that form like it does all the other forms?  

Most de-minimis fringe benefits are not reportable for the partnership or the partner that receives them. If the laptop and phone are provided and used primarily for business purposes, the use of that equipment is not reportable.   The partnership should include any taxable benefits as part of the reported guaranteed payments.   See IRS Publication 15-B Section 2 Fringe Benefit Exclusion Rules for more information.

If interest is reported as income on your tax return each year as it accrues, then you will reduce the amount on a 1099-INT that is received in the year of redemption or maturity, by the amount already claimed in prior years.   @Frank nKansas  

1095-C Form is your employer based insurance. These forms need to be issued to you if you were covered by your employer or were offered insurance through them. This form is for informational purposes and won't be input in your return. (Some states, however, do have a place for this).   If you had health insurance through the marketplace, you should have received a Form 1095-A. This form does need to be enter in the system. If you didn't receive this form in the mail, you will need to contact your insurance marketplace. See the link below  The Health Insurance Market Place Reject Code F8962-070 happens when your return is missing Form 1095-A Health Insurance Marketplace Statement. This rejection happens because the IRS has received information you were enrolled in a marketplace health insurance at some point during 2024 and you didn't include this information with your return. If you did not receive Form 1095-A you will need to contact your Health Insurance Marketplace for a copy.    How do I fix e-file reject F8962-070?

TurboTax calculates Form 8960, Line 9b based on a formula that considers your total investment income, total adjusted gross income (AGI), and state, local, and foreign taxes paid. However, Line 9b is zero if you do not itemize your deductions. Since you're taking the Standard Deduction, TurboTax does not include state taxes paid in the calculation.   Regarding your Net Investment Income Tax (NIIT):   Your AGI is $300,000, meaning your excess over the threshold is $50,000.  TurboTax correctly applied the 3.8% NIIT, resulting in a tax of $1,900. You paid state tax on the $50,000 at 5%, which amounts to $2,500. Normally, state taxes paid on investment income can be deducted on Line 9b, but only if you itemize deductions. Since TurboTax is showing zero on Line 9b, it likely means that state taxes paid are not being deducted because you are using the standard deduction. If you were to itemize, a portion of your state tax paid could be allocated to reduce your net investment income, potentially lowering your NIIT.   Itemized deductions include things like mortgage, interest, state taxes paid up to $10,000, medical expenses in excess of 7.5% of your AGI, charitable contributions etc..  You may enter these in the deductions and credits section of your return. Once entered, TurboTax will decide which is the better deduction for you to take. If you didn't enter itemized deductions, then the standard deduction amount will  be applied by default.    

Thank you! Is there any way to dismiss the message? I find it very annoying because it constantly takes up the top portion of the screen regardless of where I am in the app:   If not, do you have any idea of when it will go away on its own? Please advise.

If this is your home, you would enter the interest paid as an itemized deduction (if you are itemizing and not taking the standard deduction)  To do this you would select Deductions and Credit>>Your Home>>Mortgage Interest.  You will then select that you did not receive a 1098, but you will be able to enter your mortgage interest. 

You are still selling a business asset and it must be reported as indicated. It's understood there is no depreciation or amortization because you created the book of business. Simply leave that field blank. Make sure you enter a date acquired when you started the business or a later date if you choose, assuming you had the business long term. Likewise cost would be zero because you created the book and did not buy it.   This will end up on Schedule D after Form 4797 (for sale of business assets).

I also have a big problem getting to an amended 2024 return.  Opening the desktop premier version, the only icon screen option is a "Continue" link where it shows my 2024 return was accepted.  No link for an amended return.  How can this be resolved quickly?

You have until midnight on April 21st to resubmit your extension. Make sure your name, date of birth and SSN are correct. Most of the times the rejection is due to a mismatch between your name, SSN and date of birth.   What if my federal extension was rejected?

For the 2025 tax year you file form 3115 with your timely filed 2024 tax return.  It's timely filed if it is filed by the due date including extensions.  So you will include 3115 with the return that you file later this year in order to have the new accounting method recognized for 2025.   @sgfreedom