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please consult IRS PUB 547 for casualty loss deduction  also it would seem that you have the option to claim the loss on an amended 2023 return    the pub also covers the situations where reimbursement is more or less than what was estimated https://www.irs.gov/forms-pubs/about-publication-547      there are various methods to figure your loss as described in the PUB for example Repair costs for casualty loss on personal residence can be used as evidence of the decrease in value of the property if certain conditions are met 1). The estimated repair cost safe harbor method allows individuals to determine the decrease in the fair market value of their personal-use residential real property using the lesser of two repair estimates prepared by separate and independent licensed contractors 2)     1)Section 1.165-7 (a) (2) (ii) provides that the cost of repairs to the property damaged is acceptable as evidence of the decrease in value of the property if the taxpayer shows that: (1) the repairs are necessary to restore the property to its condition immediately before the casualty; (2) the amount spent for such repairs is not excessive; (3) the repairs do not care for more than the damage suffered; and (4) the value of the property after the repairs does not, as a result of the repairs, exceed the value of the property immediately before the casualty.   2)The estimated repair cost safe harbor method allows you to figure the decrease in the FMV of your personal-use residential real property using the lesser of two repair estimates prepared by separate and independent licensed contractors. The estimates must detail the itemized costs to restore your property to its condition immediately before the casualty. The estimated repair cost safe harbor method is limited to casualty losses of $20,000 or less.   as you can see deducting a casualty loss can be complicated. you may want to consult a tax pro. Don't really know if there was faulty installation. you would need a lawyer if you wanted to contest this finding. If there was, this could affect the FMV before the casualty which could affect the deduction for the loss. 

TurboTax does not give a "confirmation number".   If you e-filed, you should find a certificate of electronic filing in the pdf of your tax return.   So---is the IRS saying you did not file? Did you e-file?   Did you go through all three steps of the FILE section and click a big orange button that said “Transmit my returns now?”     When you e-file your return you will get two emails from TurboTax.  The first one will say your return has been transmitted; the second one will tell you the IRS has accepted  or rejected your federal e-file.  If you filed a state return, there will be a third email (usually a day or two later) that tells you if the state e-file was accepted or rejected.   Check your e-file status:   https://turbotax.intuit.com/tax-tools/efile-status-lookup/    What does it say in your account?  Does it show that the return was accepted?   Or does it say something else---like "rejected," "printed," or "ready to mail?”      

the type does not change when carried forward. however, there is an order to how current year gains are applied first the current year type of gain is applied to that type of CLCO. so short term gains are applied to ST CLCO and long term gains are applied to LT CLCO.   then if both types are still net losses ST are used first against regular income up to $3000.  if one is a loss and one a gain the loss type is applied to the gain type.     so in your situation for the current year you have net STCG of $500 and $500 of LTCL  thus the LTCL is applied against the STCG resulting in a net of zero  

Assuming your parents are not household employees, you would need to check no since they are technically not considered to be your household employee.  If they fall under the exemptions to the normal rule, then you would select yes.  Please see the instructions for Form 2441 here.   @lixiang 

I don't remember exactly.  I think i just went back into TurboTax and the new york estimated tax part and it had a link to get the "app", but since I put it in quotes, it might have just been a web page and not a program that actually got downloaded. Sorry I don't remember more, but I think I finally got both feds and ny to autopay.

@LenaH ,   Thank you for your reply.  I actually found my error via another post I submitted in the Education category, as I learned that Education is where several other posters submit questions on Form 8615.   Please see here: https://ttlc.intuit.com/community/college-education/discussion/re-form-8615-line-9-instructions/01/3687970#M62184     TurboTax calculated correctly; the error (as I was hoping) was mine.  Via that other post, I now understand why TurboTax uses the Schedule D Tax Worksheet given my circumstances.   Thank you!

You probably need to annualize your income and estimated payments.  If you get a penalty on 1040 line 38, you might be able to eliminate it or at least reduce it. You can go to Federal Taxes tab or Personal tab, under Other Tax Situations and select Start by the Underpayment Penalties. You will answer a series of questions that may reduce or eliminate the penalty. Or you can elect to have the IRS figure the penalty for you. It's form 2210. How to add form 2210 for Underpayment Penalty https://ttlc.intuit.com/community/tax-payments/help/how-do-i-add-form-2210/00/25703   It's under Federal tab or Personal (for Home & Business Desktop) Other Tax Situations Additional Tax Payments Underpayment Penalties - Click the Start or update button  

Please see how do I amend my federal tax return for this year for additional guidance.   Make sure you start preparing your amended return using the same log in credentials that you used to prepare your return that was filed if you are using TurboTax Online.   When you start the amended return, it should start off showing zero for the refund amount.

Good evening, Marc T.: Thank you so very much for the response.  Do you believe I am correct in then using the amount per roofer contract as the amount of casualty loss incurred in 2024 on Form 4684 or Schedule A?  Does it matter if some was paid in 2025 due agreed upon payment schedule?  Can I still record the whole amount as a loss in 2024?   If any FEMA reimbursement does not have to be reported and I know I will not get any insurance reimbursement, would it make sense to proceed with filing our return?  This was the only item we had open.     Thank you so much for your time and knowledge sharing!! Regards, MamaC1 

Asking the board to break out the costs between depreciable assets versus actual maintenance and repair expenses would be beneficial for full disclosure.   You can refer to this link which breaks out which items would be considered capital improvements that would need to be depreciated. Any costs for routine maintenance and minor repairs can be expensed as incurred.   As far as the credits being provided by the seller to the buyer, that would be something that would need to be discussed with your realtor and lender to ensure you are in compliance with the real estate rules.  Please see terminology tips in this link for more details on how your gain would be calculated.

Do you have a 401k----or an IRA?  They are not the same thing, although both are kinds of retirement plans.   If you have a 401k with your employer, it is shown on your W-2. (usually in box 12 or 13).  You enter the amount from your W-2 and you are done.  You do not enter it anywhere else.