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Gambling To enter the W-2G  or other documents For your Gambling winnings--Go to Federal>Wages & Income>Less Common Income>Gambling Winnings You can enter your winnings, and then keep clicking through the interview to enter gambling losses.   https://www.irs.gov/help/ita/how-do-i-claim-my-gambling-winnings-and-or-losses   Gambling winnings are taxable income.  Losses are an itemized deduction.  If you do not have enough itemized deductions to exceed your standard deduction, your losses will have no effect. https://blog.turbotax.intuit.com/income-and-investments/how-are-gambling-winnings-taxed-8891/     2024 STANDARD DEDUCTION AMOUNTS SINGLE $14,600    (65 or older/legally blind + $1950) MARRIED FILING SEPARATELY    $14,600    (65 or older/legally blind + $1550) MARRIED FILING JOINTLY $29,200    (65 or older/legally blind + $1550) HEAD OF HOUSEHOLD $21,900    (65 or older/legally blind + $1950)

There were three stimulus checks issued---two for tax year 2020 and one for tax year 2021.   It is now too late to seek the recovery rebate credit for any of them, even if you did not receive them all.   You can check your online account with the IRS to see if you received them. https://www.irs.gov/payments/your-online-account  

Did you choose to pay your fees from your federal refund and is the refund delayed?   Is TurboTax saying they will take the money out of your account now?   If so, talk to customer support to see if they will work out a plan.   To call TurboTax customer support https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/contact-turbotax/L2y9ZKpQB_US_en_US?uid=m5s9l2vh       Are you getting emails about this?   Did you choose to have your TurboTax fees deducted from your federal refund?  Is your refund taking an unusually long time to arrive?  Or was your refund seized to pay a debt you owed? if so, you signed an agreement that says TT can withdraw its fees from your account.  TurboTax would have sent several emails to you before they took the money out of your account.   https://ttlc.intuit.com/turbotax-support/en-us/help-article/intuit-account-billing/bank-account-auto-debited-turbotax-fees/L3rDdVynu_US_en_US?uid=m6bdgedq   TURBOTAX SAYS: How do you justify debiting my account? The provision is spelled out in the Pay With My Refund Agreement, which you agreed to when you opted to pay with your refund. In addition, by clicking the "I Agree" button below, you electronically sign and authorize Intuit (through its third party processor) to debit the TurboTax Fees, Additional Products and Services Purchased and any applicable sales tax from your bank account number identified in the Agreement below, in the event that you do not receive a tax refund that is sufficient to pay for them.       How can I see my TurboTax  fees?      https://ttlc.intuit.com/turbotax-support/en-us/help-article/intuit-account-billing/review-fees-turbotax-online/L1XnIzgzg_US_en_US?uid=m682vq7k    

@charlesbabiarzii wrote: Is TT Business supposed to move the NOL to the K-1s per each beneficiary's percentage?  Yes, but I think it needs help if I recall. The program has a hard time passing through net losses without any kind of income. You might try to enter some nominal amount like $1.   Also, you could try forms view and see what is available.

@Mike9241 wrote: net losses do not pass to the beneficiaries until the year the trust terminates.  Again: OP: The rental house has now been sold and we now want to pass on the NOL to the beneficiaries because we will be closing the trust. 

net losses do not pass to the beneficiaries until the year the trust terminates.  see this link  https://www.legacyenhancement.org/blog/2020/november/can-trusts-distribute-losses-/    on your test "final year" return did you indicated the property was disposed of? Box 11, Codes E and F—NOL Carryover Upon termination of a trust or decedent’s estate, a beneficiary succeeding to its property is allowed to deduct any unused net operating loss (NOL) if the carryover would be allowable to the trust or estate in a later tax year but for the termination. The deduction for regular tax purposes, reported as code E, is reported on Schedule 1 (Form 1040), line 8a. A deduction for an Alternative Tax NOL (ATNOL) carryover for alternative minimum tax (AMT) purposes, reported as code F, is reported on Form 6251, line 2f.

Something else to consider if there's not another explanation:   If the IRS thinks you have "unreported income", and you didn't, it could signal ID theft where someone could have been working illegally using your SSN, and thus their income could have been reported as yours.      In any case, if the letter doesn't fully explain the IRS's issue with your return, then you're likely going to have to talk to the IRS to see exactly what all is going on and what income they are referring to, or make an in-person appointment with them if there is an IRS office in your city.    But first talk to TurboTax free Audit Support Center  (or Audit Defense--if you purchased that product) as I mentioned in my first post above so they can question you about the issue, and see how they suggest you proceed. 

ADDENDUM:    Also, be sure the letter is legitimate.  Although not as common as email scam, there have been some scams where fake letters were sent.    If you phone the IRS to verify the letter, use their general phone number, not the one in the letter in case it's a scam. IRS: 800-829-1040 (7AM-7 PM local time) Monday-Friday   Also see this FAQ, which explains the various types of IRS letters: FAQ:  I got a letter or notice from the IRS https://ttlc.intuit.com/turbotax-support/en-us/help-article/internal-revenue-service/got-letter-notice-irs/L2JDxmDTo_US_en_US

Do you have a copy of your 2022 return to review, or do you need to know how to find your 2022 return?  If prepared in Online TurboTax, we can tell you how to find it and download a PDF.   If you purchased Audit Defense, those folks can help with an IRS letter.   If you did not, then TurboTax also has a free Audit Support Center that can help you with an IRS letter.   The special phone number is way down in the FAQ at the bottom of the table   FAQ:  TurboTax Audit Support Center https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-audit/turbotax-audit-support/L6AcMoNFD_US_en_US

You cannot use Online TurboTax to prepare a 2023 return.  It can only prepare a 2024 return.   If you wish to use TurboTax for your 2023 return, you have to use 2023 desktop software.   And it cannot be efiled.  It has to be printed, signed, dated, and postal mailed.   You can purchase 2023 software directly from TurboTax here: https://turbotax.intuit.com/personal-taxes/past-years-products/   Or you may be able to find it at a lower price at Amazon, but if you buy there, be sure you are buying directly from Amazon itself as an authorized retailer.   Or you can look to see if any of the TurboTax competitors can still prepare a 2023 online return.

Thanks M-MTax for the quick reply.  I was delayed in looking for a reply.      We had rental income but were slowly fixing up the house for sale when, per the trust, it was to close in 2025.  So we have an NOL for each year that was carried forward each year since 2022.   When I ran a 'test' return to see how the NOL would carry forward to the K-1s, nothing carried forward.  Hence my question.  Is TT Business supposed to move the NOL to the K-1s per each beneficiary's percentage?  I also tried making the 'test' return the final year and the NOL still did not move to the K-1s.  What am I missing?  Thanks.

After you finish entering your gambling winnings in the income section, continue through the screens. You will come to a screen that asks you to enter your gambling losses. If you already entered gambling winnings, go back to the gambling winnings topic to get to the gambling losses screen. You can only deduct gambling losses up to the amount of your winnings.