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I'm having the exact same problem.  I can't figure out why Line 4b is not zero.  I have not been converting every year, but sometimes every other year.  So while the previous contribution from 2023 is still sitting in the Traditional non-deductible IRA accumulating a little interest, which will be taxable, the majority of the contribution from the previous year should still not be deductible.  Anyone have any ideas what is going on?  This has worked perfectly fine in past years.  I'm using TT 2024 Home & Business.  

Thank you Amy! I read on IRS site on the lines if it is not regular and continued, but even though for example it may of been any chance of Bartering, and if it may of happened sometimes 4 or 5 times a year, not for sure but maybe partly was continued.   Not sure how to judge it.  I used a different software this year.  But I did file on my tax returns under Schedule C possibly I over reported the amounts.  Of course I can go back and Amend the returns for IRS and the State, but if there is a chance that I should have reported it would make me feel bad if I don't  leave it alone.  If there may be any mistakes regardless to what it may be, I don't know if IRS or NJ Taxation will notify me on their own, other than I did send an SS-8 to IRS today, but that was about a different tax topic mainly at least, and if I referred to Bartering at all it was indirectly.  

No.  You cannot deduct a tablet and a computer that you use for personal anything even if it is to manage your finances.  Unless it is for business finances, then you can add it as an asset and depreciate it

TurboTax calculates your excess based on what your HDHP coverage was (months and type), how much you contributed to your HSA in 2024, and if you had any carryover of excess contributions from 2023.   If the excess was created in 2024, then go back to the HSA interview and on the screen where TurboTax tells you you have an excess, then tell TurboTax that you will withdraw as much as you can.   Only the excess that is not withdrawn is carried over to the next year and you get a 6% penalty.   But it's possible that you made an error in input.   Please read the following:   One of the purposes of the HSA interview is to determine your annual HSA contribution limit.   As you probably know, the maximum limits in 2024 are: $4,150 - individual with self-coverage $8,300 - individual with family coverage If the HSA owner is 55 or older, then you add $1,000 to these amounts.   However, these limits assume that you were in an HSA all year. If you left the HSA during the year or started Medicare or had one of a number of change events, then the limit is reduced.    There are several major culprits for excess contributions (other than just actually contributing more than the limit).    First, if you did not complete the HSA interview - that is, go all the way until you are returned to the "Your Tax Breaks" page - the limit still might be set to zero, causes a misleading excess contribution message.    There are questions all the way to the end of the interview that affect the annual contribution limit.   Second, it is not unusual for taxpayers to accidentally duplicate their contributions by mistakenly entering what they perceive to be "their" contributions into the second line on the "Let's enter your HSA contributions" screen.   Normally, any employee who made contributions to his/her HSA through a payroll deduction plan has the contributions included in the amount with code "W" in box 12 on the W-2. This is on the first line on this screen (above). Don't enter the code W amount anywhere on the return other than on the W-2 page.   Third, if you weren't in HDHP coverage all 12 months, then the annual contribution limit is reduced on a per month ratio. NOTE, this means that you have to indicate when and under what type of HDHP plan you had. Be sure to answer the questions on the screen entitled "Was [name] covered by a High Deductible Health Plan in 2024?".   Fourth, if you had a carryover of excess contributions from 2023, then this carryover is applied to 2024 as a reduction to the 2024 HSA contribution limit, which could cause an excess condition in 2024 as well. But note: if you had an excess contribution in 2023 but cured it by withdrawing the excess in early 2024, then do NOT report an "overfunding" on your 2024 return.   Fifth, the Family limit ($8,300) is for the aggregate of contributions by both taxpayers, even if both taxpayers have their own HSAs. That is, one taxpayer can’t contribute $8,300 to his/her HSA and the other contribute $4,150 to the other HSA – the $8,300 limit applies to the aggregate of all HSA contributions credited to the family (in this case, the excess contributions would be $4,150.

have you gone thru the section in Other Tax Situations / Underpayment Penalty to make sure TT has your 2023 info and the safe harbor penalty calcs on Form 2210 are correct.  You may also be able to reduce the penalty if you adopt the Annualized Income method depending on your situation.   Did you pay any estimated tax (ES) last year either regularly or specifically for this cap gain event?  When you have a large unexpected income event such as Roth conversion or large cap gain you can pay one-off ES and then use Form 2210 Annualized Income method to show the timing, otherwise you will get penalized because the calcs assume by default your total income was earned evenly thru the year and your estimated taxes need to match (withholding is also assumed to be paid evenly thru the year, it's just ES which come with specific dates) and the penalty is calculated quarterly - if you took the cap gain later in the year and don't adopt the AI method it will assume a quarter of that gain was in Q1 and penalize you since then etc.   The "safe harbor" to avoid penalty is to have paid "timely" during the year via withholding or quarterly ES either 100% of 2023 tax (110% if AGI > 150k) or 90% of 2024 tax, whichever is smaller.  If you didn't hit either of those you will certainly have a penalty.   The other issue you may now see is TT by default will generate ES vouchers for 2025 based on paying "100/110% of 2024 tax" in 2025 thru withholding or estimated taxes, which may now be too high if 2024 had some one-off high income.  You can go through Other Tax Situations / Form W4 and Estimated Taxes to provide estimates for 2025 to see if you can then adopt "90% of 2025 tax" instead, and determine if any withholding is enough or you need to pay ES.

If you are planning to use the townhome as a rental:   The basis of property used in a rental activity is generally its adjusted basis when you place it in service in that activity. This is its cost or other basis when you acquired it, adjusted for certain items occurring before you place it in service in the rental activity, such as major improvements.   Continue to track expenditures that can be added to the basis of the property while you are preparing it for rent, even if that continues until next year. When the property is held out for rent at a fair rental value, you start depreciating the property (excluding the land value).   See IRS Publication 527 for more information.  

But, you have found that 'trading fees' should definitely be included in any and all crypto cost basis, correct?  (including futures trading)   based on my research, all trading fees (crypto, stock, etc) should be included in cost basis.