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@Bobgolf49r wrote: Hello! Since I am entitled to file for an extension up to May 1, 2025, will TurboTax allow me to put "05/01/2025" on my payment with Form 4868 or will TurboTax erroneously calculate a late payment penalty and interest or should I enter 04/15/2025 instead of 05/01/2025 to get the correct calculations? I am skeptical about this "corner case" for filing my extension on May 1, 2025 and NOT having TurboTax calculate any penalty and interest for late payhment. TIA!  Why do you believe you are entitled to request an extension after April 15?

To access your tax returns (current or prior year) you will sign into the TurboTax website with the user ID you used to create the account - https://myturbotax.intuit.com/   In TurboTax Online, follow these steps to print/view your return and all of the informational worksheets after you have filed:   Sign in to TurboTax Scroll down to Your Tax Returns & Documents Select 2024 and then Add a State (You aren't actually adding a State but this gets you back into the Print Center) From the left panel Select Tax Tools, scroll down a little and select Print Center Select Print, save or preview this year's return Select the 2024 Federal and/or State return box Choose to Include TurboTax and government worksheets Select View or Print Forms

You will be able to file an Amended Tax Return after the IRS has accepted and processed your original filed return. This may take a few weeks, especially if you are due a refund.    Once the form is ready, TurboTax can help you file the amendment.  To learn more about amending your tax return, please review the information here: How to Amend a Return You Already Filed    @Kkinloch

This is on the list to be looked at by the software developers. In the meantime, if nothing on your 3520 affects your return, you can tell TurboTax that you do not have one.  Then you would be able to e-file and mail the 3520 separately.  

You may not have to pay taxes on the profits (up to $250,000 or $500,000 if MFJ) if you meet certain conditions.   The three tests that you must meet are: Ownership - You must have owned your home for at least two of the five years before you sell your home. Use - You must have used your home as a personal residence for at least two of the five years prior to the date that you sell your home. Timing - You can't exclude the gain of another principal residence that you sold within two years of the current sale. If you meet these requirements,  you don't have to pay taxes on the first $250,000 (500,000 if you are married and file a joint tax return). If your profit is more than $250,000 ($500,000 if MFJ) then, the excess is reported on Schedule D as a capital gain.   For additional information, refer to the TurboTax article Tax Aspects of Home Ownership: Selling a Home and the IRS article Topic no. 701, Sale of your home.   If the house isn't your main home, you will pay capital gains tax on the profit.  You will subtract the adjusted basis from the selling price to get your profit.  You can calculate the adjusted cost basis by adding capital improvements made to the home plus the selling expenses to the basis.     Refer to the TurboTax article Cost Basis: Tracking Your Tax Basis and Where do I enter the sale of a second home, an inherited home, or land on my 2024 taxes? for more information.  

I understand what amending is and I have read through all the articles and watched the videos.  The problem is that the drop down menu that should be available online is not there.     I have also asked for a callback, but instead the autobots sent me a canned email response that says this: To amend a business return, you will need to download a copy of TurboTax Business Desktop. Since you have already purchased the online version, you do not need to pay again for the desktop version for the year you need to amend   I have tried to find a place that will allow me to download a copy without being charged, but that is elusive.     Anyone have a way to find this desktop version?

call the IRS e-file Payment Services right away at 1-888-353-4537 (They're open 24/7). You may be penalized if your tax payment isn't received by the filing deadline, so don't delay. For problems with state tax payments, contact your state tax agency.

I recommend following these steps to manually update the program as well.  That may resolve the error and allow you to open the program and proceed with your return.  This link provides the minimum system requirements as well as any other specifications that also need to be met.  

To access your tax returns (current or prior year) you will sign into the TurboTax website with the user ID you used to create the account - https://myturbotax.intuit.com/   In TurboTax Online, follow these steps to print/view your return and all of the informational worksheets after you have filed:   Sign in to TurboTax Scroll down to Your Tax Returns & Documents Select 2023 and then Add a State (You aren't actually adding a State but this gets you back into the Print Center) From the left panel Select Tax Tools, scroll down a little and select Print Center Select Print, save or preview this year's return Select the 2023 Federal and/or State return box Choose to Include TurboTax and government worksheets Select View or Print Forms

You must have some income that it thinks is generated by a business.  Do you have any investment income?  Section 199A dividends can generate a business credit as can a K-1 form from an investment partnership.     @Janeen228 

Hello! Since I am entitled to file for an extension up to May 1, 2025, will TurboTax allow me to put "05/01/2025" on my payment with Form 4868 or will TurboTax erroneously calculate a late payment penalty and interest or should I enter 04/15/2025 instead of 05/01/2025 to get the correct calculations? I am skeptical about this "corner case" for filing my extension on May 1, 2025 and NOT having TurboTax calculate any penalty and interest for late payhment. TIA! 

It depends on what program you are using. See your options here: How do I file an IRS tax extension? - TurboTax Support - Intuit    This will extend the time you have to file your taxes until October 15th, 2025.     Also, you may have to do your state taxes: Do I need to file an extension for my personal state taxes?     Remember, an extension gives you more time to prepare your taxes, but it doesn't extend the time to pay your taxes.  If you have an indication that you will owe taxes, you should make the payment by the original due date of the tax return to avoid additional interest and penalties.   

Yes.  All taxable income is reported on form 1040.  These would be considered Section 1256 Contracts and Straddles.  To enter them in TurboTax you would select the following: Income Contracts and Straddles under Investment income