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The sale of a "second home" (inherited home) is initially posted in the Federal, investment section of TurboTax. An Inherited property will have a cost basis, or "purchase price" of the value on the day of the decedents passing. An inherited property is always considered a long term gain. This will be initially posted in the Federal portion of the tax return. You will then post the state in which the property was sold. Follow the state interview to find the correct section. This is so that you can get a credit in your home state for any taxes paid. Now include the sale on your home state tax return. Steps to report the sale in TurboTax (online/desktop):   Log into TurboTax Under Federal > Wages & Income Scroll to 1099-B or Investment Sales Under Add Investment:  Select Other Description: Enter Inherited House -  Then [Property Address]. How Acquired: I inherited it, or Inherited. Date Acquired: Inherited, or use the date of death. Date Sold: Enter the date on your closing statement. Sales Price: Enter the gross proceeds. May be from a 1099-S. Cost Basis: Enter the FMV on the date of death. Selling Expenses: Include closing costs (agent fees, transfer taxes) to reduce the gain or increase the loss.     

Is that date  of 2/11 from the IRS "Where's My Refund" tool? https://www.irs.gov/wheres-my-refund Is there any additional message there?   Did you choose any add-on option such as "Pay fees out of refund" or "up to 5 days early offer" or Refund Advance?   Those all use a third-party intermediary bank to first receive funds from the IRS.   If the funds were supposed to go directly from the IRS to your bank account and thus didn't use a third-party bank, and if you bank says they don't see any deposit attempt (ask them), then you will have to talk to the IRS to see where they sent it.   IRS: 800-829-1040 (7AM-7 PM local time) Monday-Friday  

Hello again to an old question from last year. I sold inherited property in India in 2024 and paid foreign taxes in India. for tax year 2024, filed form 8949 along with form 1116 and have a carry-over foreign tax credit for 2025. Now that I am filing taxes for 2025, how do I take the foreign tax credit from 2024?  

Thank you everyone for posting.  It does appear that the college expenses like room & board and tech, etc. now appear in the ONLINE version which is all I use.  Finally! I'm wondering though, for those who use the desktop version-it might not be updated yet? Hang in there...

If using desktop software, to see what method(s) TurboTax is using to calculate your tax, go into Forms Mode and pull up the Form 1040 Worksheet.   Scroll down to between Lines 15 and 16 of that worksheet and you will see a Tax Smart Worksheet.   It will show the method(s) it used to calculate your tax.

Do you mean the Tax Computation Worksheet?  That is a behind-the-scenes calculation in TurboTax and is not used for everyone, depending on the specific situations in your return.  If you want to look at it for manual use, it's in the Instructions to Form 1040. https://www.irs.gov/pub/irs-pdf/i1040gi.pdf   What is the context for your question.?   Often the tax calculation in TurboTax is not taken strictly from that worksheet.    Some calculations involve the Qualified Dividends and Capital Gains Tax Worksheet, the IRS Tax Tables, and other calculations depending on the specific forms in your return.      You may first wish to see what methods TurboTax is using to calculate your tax.  We can tell you how to find that out.   Are you using Online TurboTax or desktop TurboTax?