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I have a question regarding the amount to include as income.  As I understand it, you can take the tax-free scholarships and count as income, so that you receive a higher AOC amount, is that correct?  Basically you're just taking the tuition and fees to apply towards the Qualified Expenses and AOC.  Does that apply if you get Chapter 33/GI Bill payments also? Can those be counted as income?    We are not going to claim her this year so she can get the AOC credit.  Husband's income is too high.   My daughter's situation seems pretty simple.  Spring 2023/Jan. 2024   Housing Student Exchange 3137 Dining Plan 2247 International student fee 200 Tuition + fees 2191   $7,775 Fall 2024   Housing 3930 Tuition 2190   $6,120     TOTAL EXPENSES $13,895 1099-Q Box 1 7133 Box 2 52   PAYMENTS Jan 24 Chapter 33 1240 Pmt 7044   $8,284 Fall 24 Chapter 33 1220 Pmt 1220   $2,440   $1,921 Qualified Expenses=tuition/fees - tax free scholarships (4381-2460 per 1099-T)*This is what she would get with the AOC. If the $2460 chapter 33 could be counted as income, however, her AOC amount would be the full $2500. Another person did these computations regarding the 529 distributions: The difference between the total expenses ($13895) and and the tuition/chapter 33 applied to the AOC ($6841) is $7054.  This is $79 below the $7133.   Total Expenses (including room/board) minus scholarships:  $11435 ([removed]) Minus $4000k for AOC Credit  (or should this be minus the $1921 AOC credit?) =Amt to Be Used Against the 1099-Q Total Distribution=$7435 Divide this Amt by the Total of Box 1 of the 1099-Q (7133)=62%. This percentage of earnings are tax free and remainder are taxed--So 62% of the $52 gain was not taxable and 38% of it ($20 is).   I hope I'm not making this too confusing.  This is the first year I've had to deal with this, since we always claimed our daughters on taxes and couldn't take advantage of the AOC credit.  Thank  you!

Thank you M-MTax. I understand that the value of the estate does not require that I file a 706. But, if 2032 does not apply, won't I need to file an 8971 to establish a stepped up basis? And, does that not require that I also file a 706?

I am having the same issue.  Turbotax needs to fix this.  I bought the program so I don't have to keep track of all this.  Why isn't the program pulling the carryforward numbers from last years return file?  That's what computers are for, if I have to do this, there is no reason for the program.  TurboTax, please fix it.

enter the total required RMD in the 1099-R for the flex savings plan. All the IRS knows and cares about is that you took the RMD   there is a checkbox  for the 1099-R entire gross applies to 2024 RMD

Most frustrating thing ever. Since the Desktop version HAS ALL my info, it is absolutely ridiculous that such a basic feature is removed or not working anymore in 2024 Premier version of TurboTax, despite we being charged such an amount. They make use input ALL THAT INFO AGAIN, in the online version even though the logged in account HAS ALL THE INFO. How silly of you Inuit? Just make it work **bleep** it

You can only transfer 2023 into a new blank return.  So if you want to transfer it you will need to start 2024 over by starting a new 2024 return.   Go up to File-New Tax Return.   Are you on Windows or Mac?   What do you mean it found it?  When you started 2024 did it show up in a box and ask if you wanted to transfer it?   You need the tax data file ending in .tax2023 to transfer.   Here's how to transfer last year's return to Windows….. https://ttlc.intuit.com/community/entering-importing/help/transfer-last-year-s-return-to-turbotax-for-windows/00/26145   How to transfer into Turbo Tax for Mac https://ttlc.intuit.com/community/tax-data-file/help/how-do-i-transfer-last-year-s-return-into-the-turbotax-for-mac-software/00/26062