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I wish I had better news. I just gave up and did what James recommended in this thread, which was to “fake” a small profit on one item and thus pay a few dollars more in taxes than I should have. You’ve got a lot more hoops to jump through doing it this way but it was the only way I could get around it and submit my return without an error. I am STILL SO MAD about this experience. 30 years of smooth sailing with TT, but this stupid error that should have been an easy fix and was completely ignored by TT will have me going elsewhere next year. 

Topic no. 420, Bartering income states: "doesn't include arrangements that provide solely for the informal exchange of similar services " and "You must include in gross income in the year of receipt the fair market value of goods or services received from bartering." For your example: If you run a business, the cost to make the cake is part of your business expenses the ingredients are part of your return already. You just add the income for the value of items received.  

Hi Mary4K,   Thanks for the prompt response.   It seems you are indicating that I do not have to report the ORIGINAL 1099-S showing $55,000. I get that.   How about having to report the SECOND / CORRECTED 1099-S showing $0, Do I have to report this CORRECTED 1099-S on my 1040 Form?   Please see the note from the IRS 1099-S Form below:   "Copy B For Transferor This is important tax information and is being furnished to the Internal Revenue Service. If you are required to file a return, a negligence penalty or other sanction may be imposed on you if this item is required to be reported and the IRS determines that it has not been reported."          

Thank you!   Ideally, I'd love TT to clearly be able to tell me:  "We know you have a ROTH and a SEP IRA - based on your numbers your max for EACH is X".   But this is useful - it sounds like i need to do some math.  There doesn't seem to be a way to "model" contributions - i.e. "if you make your max cont. to your SEP, you still have the option of contributing $X of your total allowable ROTH of $7K.  This will adjust your tax burden by X".   That would be ideal.

Call IRS e-file Payment Services 24/7 at 1-888-353-4537 to inquire about your payment.   If you want to check the debit date you specified, look on the filing instructions for your return.  It will tell you the debit date the IRS or State will deduct the payment.  If you did not print them out you can view them using the following steps:    TurboTax Online  In TurboTax Online, sign into your account. You should be on your Tax Home page. Scroll down to Your tax returns & documents. Select 2024, and then select Add a State (you're not actually adding a state, this just gets you into the right menu). Once you're in your return, you can navigate around as usual. Click Tax Tools (in the black bar on the left of your screen) and then click select Print Center. Click Print, save or preview this year's return TurboTax CD/Download  Go into Forms Mode by clicking on the Forms icon in the top right of the blue bar.   In the Forms in My Return list on the left, click Filing Inst.  [It's usually toward the bottom of the list.]  The form will appear on the right side of the screen. You can view the form on the screen or you can print a copy by clicking the Print box at the bottom of the screen. To return to the interview, click on the Step-By-Step icon in the top right of the blue bar.

If you select TurboTax Live, you can chat with a tax expert or have a tax  expert call you. From answering questions as you go to a final review before you file, our TurboTax Live Assisted experts are ready to help. They'll make sure you file 100% accurately and get your maximum refund—guaranteed.   For more information, refer to the TurboTax website TurboTax Live Assisted.

If you have a separate TurboTax account set up for them, follow these steps     On the left rail menu in TurboTax Online Select Tax Tools  (You may have to scroll down on the left rail menu.) On the drop-down select Tools  On the Pop-Up menu titled “Tools Center,” select File an extension Follow the instructions to start the extension process 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.     

It sounds like you duplicated the entries.  You can delete the 1099-G entries and re-enter.  If deleting them from the summary screen does not get rid of the duplication, then you can delete the 1099-G in the delete a form section.    From the left rail menu in TurboTax Online, select Tax Tools (You may have to scroll down on the left rail menu.) On the drop-down select Tools On the Pop-Up menu titled “Tools Center,” select Delete a Form  This will show all of the forms in your return Scroll down to the form you want to delete Select the Form Click on Delete.  Always use extreme caution when deleting information from your tax return.  There could be unintended consequences.   

Continue through the income section; the numbers won't update until you have completed the entire section.   Click on Forms in the upper right corner and you can see the income has been reported on Schedule C.