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You are doing the right thing because a blank amount could result in higher taxes paid without looking into the cost basis on your own.   Since you inherited the stock, you are able to use a tax advantage referred to as "step up basis", which means that your cost basis is not what the original owner paid, but rather the Fair Market Value (FMV) of the stock on the date of the person's death.   To report this Form 1099-B manually do the following:   Click on Wages & Income Select Add more income Scroll down to Investments and Savings and click down arrow Select Stock, Crypto...(1099-B...) Select Add investments, Add a different way Select Stock, Bonds, Mutual Funds (1099-B) Enter brokerage information, then Continue In the "Tell us about the sales..." answer the questions, then Continue In the "Now choose how to enter your sales", Continue Here, you will reach the box to select the Long-term basis not report to IRS (noncovered) Input the Proceeds (amount from your Form 1099-B) Input the Total cost basis (the FMV at the date of death) For Total cost basis, check the box below the sales section, I need to adjust my total cost basis Note that the holding period is automatically treated as Long-Term Keep documentation for justification of the adjustment

the online version is now fixed in that there is now a room and board section.  however, it is not calculating correctly. the equal numbers 1098-t andd 10990q do not cancel each other out.  it is creating a taxable event.  the problem seems to be the number that is in the earnings section of the 1099-q.  that is creating the taxable event . if you put the entire amount in 3. basis, then there is no taxable event.  at this point, I'm giving up and deleting the sections entirely since you don't have to report 1099-q and 1098t if all the distribution from 1099-q is for qualified education expenses, which it is. 

Preparing your return "on your own" does not mean free if you used a do-it-yourself version of Deluxe or Premium.    Only the Free Edition is free.    If you have fees, then you may have used a paid version such as Deluxe.     HOW CAN I DOWNGRADE TO A LOWER VERSION https://ttlc.intuit.com/turbotax-support/en-us/help-article/change-service-level/downgrade-lower-priced-version-turbotax-online/L2IDaMvkt_US_en_US?uid=m6ilzady     WHY DO I HAVE TO PAY?  I WANT THE FREE EDITION   The information that you can enter in Free Edition is pretty limited now.  Thanks to the tax laws that began for 2018 returns, there are no more simple Form 1040EZ or 1040A's.  Everything goes on a Form 1040 that has three extra "schedules" with it, and if you need any of those schedules, you are not able to use the Free Edition.  Using the standard deduction instead of itemizing does NOT mean you will not need any of those schedules.   If you started in the Free Edition and entered any data that required any extra forms or schedules, you have to upgrade to a paid version and if you are watching the screens carefully you are alerted to the upgrade.       TurboTax Online: Important Details about Filing Simple Form 1040 Returns If you have a simple Form 1040 return only (no forms or schedules except as needed to claim the Earned Income Tax Credit, Child Tax Credit or student loan interest), you can file for free yourself with TurboTax Free Edition, or you can file with TurboTax Live Assisted Basic at the listed price. Roughly 37% of taxpayers are eligible. Examples of situations included in a simple Form 1040 return (assuming no added tax complexity): W-2 income Interest, dividends or original issue discounts (1099-INT/1099-DIV/1099-OID) that don’t require filing a Schedule B IRS standard deduction Earned Income Tax Credit (EITC) Child Tax Credit (CTC) Student loan interest deduction Taxable qualified retirement plan distributions   Examples of situations not included in a simple Form 1040 return: Itemized deductions claimed on Schedule A, like charitable contributions, medical expenses, mortgage interest and state and local tax deductions Unemployment income reported on a 1099-G Business or 1099-NEC income (often reported by those who are self-employed, gig workers or freelancers) Stock sales (including crypto investments) Income from rental property or property sales Credits, deductions and income reported on other forms or schedules        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   If your TurboTax fees are higher than expected, you can reduce them by removing add-ons     (BEFORE you e-file) :   Remove Premium Services Remove MAX Defend & Restore Remove a state Remove PLUS Help & Support Remove Pay With Your Refund     Or—-Use this IRS site for other ways to file for free.  There are 8  free software versions available from the IRS Free File site   https://apps.irs.gov/app/freeFile/      

Here are the instructions for reporting income from a Schedule K-1 in TurboTax Online and Desktop: TurboTax Online Go to the K-1 (<click here) screen under Wages & Income. On the Schedules K-1 or Q page, select Yes. On the Did you receive any Schedules K-1? page, select Yes. Select Start next to the type of Schedule K-1 form you have, and enter your information.   TurboTax Desktop Open TurboTax and continue your return. Select Search Topics. Search for and select K-1. On the Schedules K-1 and Schedule Q screen, select Yes. Select Start next to the type of Schedule K-1 form you have, and enter your information. To use the jump-to link for TurboTax Online, make sure you're currently logged into the software.    FAQ - Where do I enter a Schedule K-1 that I received?

To avoid business-related charges in TurboTax when you have no business income, you can delete the business forms (Schedule C) from your return. Go to Tax Tools > Tools > Delete a form in the left menu, select the business form, and delete it.

Sorry, Online is only for 2025 now. Online for 2024 and prior is closed now so you can not start a new 2024 or prior return or finish one. You have to do each year separately How to prepare a prior year return https://ttlc.intuit.com/community/using-turbotax/help/how-do-i-prepare-a-prior-year-tax-return/00/25984 To do a prior year return you have to buy the Desktop program here, https://turbotax.intuit.com/personal-taxes/past-years-products You will need Windows 10 or Mac Ventura 13 to install it on. If you can't install the Desktop program or if you have a simple return and want to file for free, you can fill out the blank IRS forms by hand. Here are some basic forms….. Here is the IRS 2024 Form 1040 https://www.irs.gov/pub/irs-prior/f1040--2024.pdf OR if you want bigger type use 1040SR for Seniors, https://www.irs.gov/pub/irs-prior/f1040s--2024.pdf And 2024 Instructions https://www.irs.gov/pub/irs-prior/i1040gi--2024.pdf Sch 1 : https://www.irs.gov/pub/irs-prior/f1040s1--2024.pdf Sch 2 : https://www.irs.gov/pub/irs-prior/f1040s2--2024.pdf Sch 3 : https://www.irs.gov/pub/irs-prior/f1040s3--2024.pdf Then when you do file 2025 enter 0 for the 2024 AGI since you are filing 2024 late. You have to print and mail prior year returns. When you mail a tax return, you need to attach any documents showing tax withheld, such as your W-2’s or any 1099’s. Use a mailing service that will track it, such as UPS or certified mail so you will know the IRS received the return. Don’t forget state.

On Form 1040, look at Line 8 "Additional income from Schedule 1, line 10", this is where it should end up to be taxed as ordinary income. On Schedule 1, look at Line 4 "Other gains or (losses). Check if any from Form(s): 4797" and the box should be checked, with the amount listed next to the box on line 4.    Note: if your passthrough entity income typically reports on another line on Schedule 1, such as "Line 5 Rental real estate, royalties, partnerships, S corporations, trusts, etc. Attach Schedule E" it may be mapped to that location, depending on your entries. Compare with the prior year tax return PDF to verify.