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@zapyoo wrote: Additional info: This K-1 had income from two different activities - ordinary business income (loss) and Net rental income, so I had to create two K-1s (per TT instructions) This same K-1 had K-3 foreign tax credit info for two countries - IN and MEX.  Per TT instructions I put one country on each of the two K-1s.  This same K-1 had Box 20, Code Z, Section 199A information listing two partners - I put the info for one partner on each of the two K-1s.   I did try editing the numbers.  Last year, one community member was able to resolve the error by deleting the 0.  This did not work for me.     I'm not sure if I can help directly, but I have a few thoughts:   1) Good. 2) No, unless the rental had a credit for one country and the business had a credit for the other country, you may need to add a third K-1 to split it between the two countries.  In connection with #4 (see below), you may also need to split the income as well (for example, have two K-1s with split Box 1 income).   3) The Box 20/199A information should only reflect YOUR share.  I am unsure why it is referring to both partners.  Also, you enter that Box 20/199A information on the K-1 that is pertains to; if it pertains to Box 1, you put it on that K-1.  If it pertains to Box 2, you put it on that K-1.  If it partially applies to both, you need to split it up based on the nota/statement with the K-1. 4) Right above those two pink boxes is a line that says "Gross income sourced at partner level).  I suspect you need to fill that out.  Right now, that screen thinks you have ZERO foreign income but have paid some foreign taxes.  I suspect it is doing that because of the way you split the K-3/foreign income between two K-1s.

In the Online version you have to pay any online fees to see the whole return or to save it to your computer.   If you used the Desktop program before you may notice several differences and not like the online version.  It has less features and no Forms Mode.  You can only do 1 return per account. Although you can use the same email address for 5 separate accounts.  Your return is only saved online so be sure to save both the .tax2025 data file and the pdf file to your computer when you are done.  In case you need to amend in the future or if you need a copy to get a loan or something.  You might not be able to access your online return when you need a copy.

Thank you, I still would like to file because I already paid for filing my return. I would consider rev a hobby as I wasn’t sitting there typing every weekday of every month with a schedule, just did it on and off between a couple months in the year. So if I want to report it, should I go with 1099 misc? And would I be considered self employed for that tax year despite making so few and not treating it as a job. It is called rev freelance transcription though. I’m just confused about what forms I should use at this point. Thank you for your time

@cocob2001 wrote:  I read everywhere that I should still report any money I made no matter how little, so that’s why I feel the need to file a return. If you file, you must report everything, no matter how small the individual pieces are.  But the overall requirement is what I described above, and you are not likely to be "hounded" unless your bank account suddenly starts getting 10s of thousands of dollars with no apparent source.  

In the Windows Desktop version, along the bottom there is a section to .....Change (or amend) for Another Reason...and below that you enter the EDIT selection about Wages & Income....which gets you to the full menu of income items, including 1099-INT forms. _________________________ Of course, it may depend on who much Interest income you had as to whether you will owe any more to the IRS...but entering it will let you know.

It’s coming up now because tax anxiety. Seeing as I never filed anything, I was worried I’d be hounded for it. All my income for each year never went over 12,000, the closest I came was I believe $4-5 thousand something in 2020 or 2021 for my stocks and crypto + savings interest (don’t have my files as im typing this but I did go through my files for returns)  I read everywhere that I should still report any money I made no matter how little, so that’s why I feel the need to file a return.

@cocob2001 wrote: I had some income from bank savings interest, but from Rev all I made that year was 45. Similar in 2020 and 2021, I made some dollars from Rev but also had interest from my savings account and I sold some stocks. Would I need to file schedule c in those instances? I'm curious about why this is coming up now.   Your tax return is a form 1040.  If you are engaged in a business, then your 1040 includes as an attachment, a schedule C.  Schedule C lists business income and expenses, and calculates net profit, which flows to form 1040 where it is combined with any other income.   ---Step 1--- The first question we have to ask is, were you required to file any tax return for any reason in 2019, 2020, etc.  You were required to file if your total taxable income was more than the amount shown below.   2019 $12,200 2020 $12,400 2021 $12,550 2022 $12,950 2023 $13,850 2024 $14,600   Or, you are required to file if your net income (gross income minus expenses) from self-employment was more than $400 in any one year, even if your total income was less than the $12,000+ threshold.   So if your Rev was always less than $400 per year, we can ignore that rule for now.  Then we go back to total income -- was there any year when your total income (selling stocks, bank interest, and Rev) was more than the $12,200+ threshold shown in the chart. Remember that money from the sale of stocks is not all taxable, only the gain.  For example, if you bought the stocks, or someone gave them to you, and paid $10 a share, and you sell for $15 a share, your taxable income is not $15, but $5, the amount of gain.   If your Rev income was always less than $400 and your total income was always less than the chart, then you were never required to file a return, and there is no reason to file one now unless a bank or college wants to see it (and even then, I would double check, because if your income was always too low to file, then why make you file now?)   However, if you file for any reason, then you must list all your income, no matter how small each item is.   ---Step 2--- If you decide to file a return for one or more past years, you must include the Rev income along with everything else (interest, stocks, etc.).  However, Rev might be a business or it might be a hobby.  That depends on how active you are.  The IRS has some guidance here. https://www.irs.gov/newsroom/hobby-or-business-heres-what-to-know-about-that-side-hustle   Since you don't appear to have engaged in the business regularly, with a profit motive, and you did not rely on the income, it would seem to me that you can treat it like a hobby (but you have to make that decision for yourself).  If it is a hobby, it is still taxable as miscellaneous (hobby) income, but you don't include a schedule C and you don't deduct business expenses.

I have been searching for a substitute in vain.  Are we expected to insert all our charity deductions manually line by line into TT2025?  I had 101 entries last year and its deductible saved me a lot of work.  I have a spreadsheet method of logging charity entries that avoids me having to type in charity names (for repeats from previous years) and allows me to track amounts year-to-year, but the final transfer into TT is my biggest problem now.  A direct upload of a spreadsheet would work --- I could easily adapt to another format.  Does anyone know what method they are using for 2025?  

I had some income from bank savings interest, but from Rev all I made that year was 45. Similar in 2020 and 2021, I made some dollars from Rev but also had interest from my savings account and I sold some stocks. Would I need to file schedule c in those instances?

for line 20z just enter the net income or loss. Turbotax doesn't use it in the tax calculations. What it may use the entry for is to later on ask for the various components that go into computing 199A. it may ask even for this info even if nothing is enter for 20Z.      for wages not sure why both SE wages and W-2 wages are presented.  what's the difference and what are SE wages? a w-2 has taxable wages Box 1), soc1al security wages (box 3) medicare wages (box 5) and possible wages on other lines. they can all differ.   you can read this thread about 199A wages. further questions about the info you got need to be addressed to the preparer. we would be guessing https://petersbandura.com/2025/06/02/understanding-qbi-w-2-wages-what-counts-for-the-qualified-business-income-deduction/       

If your only income in 2019 was "$45 and some change" you do not need to file a 2019 tax return, so do not worry about 2019.       The current online software is only for 2024 returns; it cannot be used for any other year.    If you had more than $400 of self-employment income for 2020 or 2021, you need to file returns for those years and pay self-employment tax for Social Security and Medicare.       Software is no longer available for 2020, but you could use paper forms to prepare by hand and mail in to the IRS.   Again---you only need to do this if you had more than $400 of self-employment income for 2020.   If it was less, do not worry about 2020.   The same is true for 2021----if you had more than $400 of self-employment income you can use the desktop download software on a full PC or Mac to prepare a 2021 return to mail in.   It cannot be e-filed.  Software for 2021 is still available; after mid-October the 2021 software will be gone.     If you had self-employment income, you also prepare a Schedule C for any business expenses you had.        You have not mentioned tax years 2023 or 2024.   You cannot change the tax year.   The current online program is for 2024 only.   Only a 2024 return can be prepared online and only a 2024 return can be e-filed.   Online preparation and e-filing for 2021, 2022, and  2023 is permanently closed. Note:  The desktop software you need to prepare the prior year return must be installed/downloaded to a full PC or Mac.  It cannot be used on a mobile device.   To file a return for a prior tax year  If you need to prepare a return for 2021, 2022, or 2023  you can purchase and download desktop software to do it, then print, sign,  and mail the return(s) https://turbotax.intuit.com/personal-taxes/past-years-products/ You may also want to explore purchasing the software from various retailers such as Amazon, Costco, Best Buy, Walmart, Sam’s, etc.   Remember to prepare your state return as well—if you live in a state that has a state income tax.   https://ttlc.intuit.com/turbotax-support/en-us/help-article/state-taxes/contact-state-department-revenue/L9qVToi02_US_en_US?uid=m6e06um0   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 certified mail so you will know the IRS/state received the return.   Federal and state returns must be in separate envelopes and they are mailed to different addresses.  Read the mailing instructions that print with your tax return carefully so you mail them to the right addresses.