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Okay under Enter Box 14 info -  I followed the first step, entered the Code "I" and left the value blank. When I click continue, it brings me to a page called Passive Loss Carryovers. It says Enter your passive loss carryovers as negative numbers Passive loss carryovers from 2023: Regular Tax ____ Alternative Minimum Tax____   What do I enter from here? It did not bring me to the We need some information about your 199A income screen.

Thanks Dave. I’m TRYING to do it the way you suggested but TurboTax is forcing me to do it the other way.  I don’t understand why.  When you select personal items there is a “ learn more” link. Click that link and it says “ later you’ll list the items that you sold…”  which I started to do but it got so time consuming.  If you don’t do it you keep getting “ 1099K needs review” 

TurboTax for Mac does have the prompt in the Sales Tax section, under Deductions & Credits, Estimates and Other Taxes Paid, Sales Tax. I just tested this with my Mac.   You can choose EasyGuide in the Sales Tax section and the option should appear on the screen after the one where you enter your state and local sales tax rate. However, if you click past the screen about Major Purchases, it may not appear again on a second pass.   If that happens, go to Forms mode and pull up the Tax and Interest worksheet. Click somewhere in the form where the major purchase sales tax would go, then go back to EasyStep. When I did this, the Major Purchase screen showed up again in the Sales Tax interview.   @DMinusOne 

If you have not filed your State return yet, please follow these steps in TurboTax Online to correct the information entered for your state return by mistake:  Sign in to TurboTax and choose Continue or Pick up where you left off On the left side bar, choose State Taxes and then Your State Returns Select Continue next to your State return Walk through the state interview questions to update the information on your state return If you have already filed your return, you will need to amend it to make any necessary changes.  Please see this TurboTax Help Article for instructions:  How do I Amend my 2024 return?

@friend80  My answers are shown in italic   It is a US multi member LLC and we had used a company from India and a separate freelancer from India to do our initial service work for which the work was performed outside US. Both the payments were done by the US company account bank. we did collect W 8BEN E form and W 8 BEN form and did not withhold any tax. We will be doing 1065 form. Thanks My questions are 1)  Did I do it correctly by not deducting the withholding tax That you collected  tax id of the  NRAs is correct but un-necessary. This is  because this was  contract work done in India, the income source for the recipient(s) is Domestic/India and as such reported on their ITR.   You also cannot withhold taxes  for this work on behalf of the  contractor  ( TDS does not apply here  because your entity is not an Indian entity.) 2)Am I allowed to claim this business expense? Yes this is business expense ( at the entity level and reported on form 1065 ). 3) Could you let me know in which section I can claim it and do we need to upload the w 8 BEN forms Note that form 1065  ( entity return   of a pass through entity ) just records all the  incomes and expenses of the entity and then issues k-1s to the partners for recognition  at the partner level.  You will have to use  TurboTax Business  for federal return and  Fiduciary  State for the State return. 4) Will there be any issues if i do not file a return Yes ---  a pass through entity must file a form 1065 and a copy of the K-1s  ( using a K-3 )  to the IRS and the State.  This allows the partners to recognize incomes and pay taxes based on the K-1s.   Since  this is your first year  , it may be worthwhile to consider  professional help  IMHO.   Is there more I can do for you ?   pk

Hi Monika, Thanks for responding. To confirm, I should not include the interest I received from the bonds here that was part of 1099-INT? If the investment expense was for a managed account how would I know how much to put for California?

After you enter the 1099R you have to keep going.  People are stopping too soon.   While entering your form 1099-R, if you have entered a birth date which makes you older than 70 1/2 in the tax year, TurboTax will ask you if any portion of your distribution was transferred to charity. You can then enter the amount transferred to charity.   Enter a 1099R under Federal Taxes (Personal for Home & Business) Wages & Income Then scroll way down to Retirement Plans and Social Security Then IRA, 401(k), Pension Plan Withdrawals (1099-R) – Click Start   The code in box 7 of form 1099-R must be 7 and the box IRA/SEP/SIMPLE must be checked.  A IRA QCD should be 0 taxable on 1040 line 4b and QCD written by it.  Unless you have other 1099R taxable amounts on 4b.  

Each tax year has to be filed separately using the forms for the specific tax year.  They cannot be combined in any way--do not even put them in the same envelope when you mail them.  Software for past years is available back to 2021.  Any earlier years can only be prepared on paper forms by hand--and those refunds have been forfeited now.   The current online program can only be used for a 2024 return--no other year.  And if you did not file a timely 2023 return you will have trouble e-filing 2024.  When it asks for your 2023 AGI try using zero.  If zero does not work then you have to print, sign and mail 2024.     You cannot change the tax year.   The current online program is for 2024 only.   Only a 2024 return can be prepared online and only a 2024 return can be e-filed.   Online preparation and e-filing for 2021, 2022, and  2023 is permanently closed. Note:  The desktop software you need to prepare the prior year return must be installed/downloaded to a full PC or Mac.  It cannot be used on a mobile device.   To file a return for a prior tax year  If you need to prepare a return for 2021, 2022, or 2023  you can purchase and download desktop software to do it, then print, sign,  and mail the return(s) https://turbotax.intuit.com/personal-taxes/past-years-products/ You may also want to explore purchasing the software from various retailers such as Amazon, Costco, Best Buy, Walmart, Sam’s, etc.   Remember to prepare your state return as well—if you live in a state that has a state income tax.   https://ttlc.intuit.com/turbotax-support/en-us/help-article/state-taxes/contact-state-department-revenue/L9qVToi02_US_en_US?uid=m6e06um0   When you mail a tax return, you need to attach any documents showing tax withheld, such as your W-2’s or any 1099’s.  Use a mailing service that will track it, such as certified mail so you will know the IRS/state received the return.   Federal and state returns must be in separate envelopes and they are mailed to different addresses.  Read the mailing instructions that print with your tax return carefully so you mail them to the right addresses.  

You can deduct the loan as a non-business bad debt. It is not a business bad debts unless you are in the business of loaning money, as opposed to doing it as a side-job, where it is considered to be more like an investment. As such, it is deductible against capital gain income and up to an additional deduction of $3,000 per year. The unused amount can be carried forward to future years.   You enter the loss in the Deductions and Credits section of TurboTax, then Other Deductions and Credits, then Nonbusiness Bad Debt. Here is a TurboTax article where you can learn more.

Thank you for your response. It was from two separate employers. One taxed him $1914 and the other maxed out for $10,453.20. Although when filing, it does not decrease on my federal due. It just keeps telling me to double check I entered our W2’s correctly. Also, his employer told him to adjust line 11, but everything I have read says we need a W2c. 

Everyone files a form 1040.  He will just walk through the steps of entering his personal info and W-2, then TurboTax will calculate his refund.  If the scholarship was used for anything other than education, then yes, he will claim this as taxable income.   He can enter this in the 1098-T section where it asks about any additional scholarships.