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Based on the information I was told, the update to be released on Thursday, February 19 is expected to resolve issues within the rental income and expenses section with regard to depreciation.  Waiting to test your return on Friday, February 20 is advised since there is not a specific time for the release of the update.   @Viejo303  @kmarbitrage 

You had helped me with this last year and have folow up question.  As fiduciary I prepared final 1041 in 2020 for my mother after she passed. Five years later received unclaimed property from NJ and 1099 for $5000 interest income for those unclaimed years. The 1099 was sent to social security number of mother not ein of estate and NJ will not correct it. I know I can do the amended 1041 for 2025 reporting interest to ein of estate with explanation letter. The cash expenses were 3500 for legal probate fees and taxable income would be 1500 with 1041 tax due at $150. However would not want to prepare k1 if possible to me. The 1500 was kept by me as fiduciary and tax preparer. I spent something like 20 hours dealing with attorney on probate, NJ state in filing for unclaimed property and getting documents prepared, etc.    Can I just show the 1041 as 1500 net income with 150 tax due and leave it at that (preferred) or do I have to deal with potential k1 preparation and then consider deducting my time which could be 2000 and then a 500 1041 loss and more k1 issues to deal with? Just want to make this simple if possible and not have to deal with the k1 situation.  Help Please    

Did you enter your income from working under each parent's name?     You will not get the childcare credit until (unless) you enter income earned from working.   The credit does not work unless you enter your income first.   If you are filing a joint return you must show income for both spouses, or show that one or both of you was a student or disabled.   If you have self-employment income and show a loss you will not get the childcare credit.  You will not get the credit if you are filing married filing separately.     If you have entered all of your income and you have entered your dependent(s) then work on the childcare credit by entering the Tax ID or Social Security number of your childcare provider and enter the amount you paid for the childcare.   One of the most common mistakes that messes up the childcare credit for people is listing all of the earned income under only one name on a joint return.  Make very sure that your incomes are listed under each of your names.  It’s pretty easy to check.  Go to the Income section, and click “update” on Wages and Salary.  That will take you to the W-2 Summary.  Do you see income listed under both of your names?       The person receiving the care had to be 12 or under or qualified as mentally or physically disabled. To claim the childcare credit you need to be filing as Head of Household or Married Filing Jointly. (NOT married filing separately)    If your child was born in 2025 make sure you say the child lived with you all year. The credit is a percentage of your expenses based on your AGI (the higher the income, the lower the percentage)  You must provide the Social Security number for each child you are claiming, and the Social Security number or Tax ID for each care provider.    In the case of divorced or never-married parents—only the custodial parent can use the childcare credit.     And remember that the childcare credit is a NON-refundable credit.  It can reduce your tax owed down to zero, but it is not added to your refund.       https://ttlc.intuit.com/turbotax-support/en-us/help-article/taxation/child-dependent-care-credit/L8h8A5Klg_US_en_US?uid=m5yifys1  

The software believes that you are required to file IRS form 8615 Tax for certain children who have unearned income.   For 2025, a child must file Federal form 8615 if all of the following conditions apply:   The child has more than $2,700 in unearned income, The child is required to file a tax return, The child does not file a joint tax return with a spouse, At least one of the child's parents is alive, The child is within certain age limits. For tax purposes, the child's "age" is the age on December 31. The child must file the form if any of these conditions apply:   The child is under 18 at the end of the year, The child is 18 years old and does not have earned income that is more than half of the child's support for the year, or The child was a full-time student age 19-23 and does not have earned income that is more than half of the child's support. This TurboTax help also explains Federal form 8615.

Babysitting income is self-employment income and is entered in TurboTax under Federal>Wages & Income>Self employment income and expenses   Your babysitting income can be offset by related expenses and is subject to self-employment tax.   See this TurboTax blog for more information: Do Babysitters Have To Report Their Income on Taxes?

You're no required to report a 1095-C on your tax return.   It's only for your records, and you should keep it with your tax documents.   You may have a 1095-A that is causing your filing problems. If you're sure you didn't get a 1095-A you can use these steps to clear it.   Select Tax Tools On the drop-down select Tools There will be 2 green boxes Select Topics Search Type 1095-A The question will come up Did you receive Form 1095-A for your health insurance plan?      Answer Yes Continue to the form Delete it using the trash can ------------------- Repeat the process When you get to Did you receive Form 1095-A for your health insurance plan?      Answer No

You totally missed the point and your wrong. I have used the same paid version for years...this was very first time I was asked to pay the $40 processing fee. Your word salad is bull$hit! If you purchase the software you should not have to pay a "processing fee" before or after...whenever. I'll send mine via snail mail this year and look into using another software next year. 

LIVE ASSISTED https://turbotax.intuit.com/personal-taxes/online/live/how-it-works.htm     FULL SERVICE https://turbotax.intuit.com/personal-taxes/online/live/full-service/     Or….Post clearly worded, very specific complete questions here in the user forum.  We cannot see your screen or your tax return.

Also, when I click on my uploaded documents, it says there’s a 1099-NEC, but I did not upload one, nor do I have one for this tax season. When I click on the uploaded 1099-NEC, nothing comes up, it just says that there is one there.

Do the same steps apply if the excess contribution was made in 2025 and the excess contribution plus gains were removed in February 2026, before our 2025 tax return was completed and submitted?     I'm trying to figure out how to fill out Turbo Tax for 2025 for myself and my spouse (we learned that neither of us could contribute to a Roth IRA in 2025 in the process of filling out our taxes - we both removed the excess and all gains in Feb 2026).     What steps do we need to take in Turbo Tax for our 2025 return so that we don't have to file an amended return when we get the 1099-R's next year (we were told by our financial institutions that 1099-R's will be issued in 2027 because we removed the excess plus gains in 2026)?

Any luck with this? I try to download my 1099-B data from Morgan Stanley Wealth Management, it says "successful" after connecting, and to continue back to TurboTax to continue.  Unfortunately, when I go back to TT the data is not there and it just tells me to connect to MSWM again...   An infinite loop of nothing.

We've been advised by management that the work on the depreciation section of TurboTax is continuing and expected to be completed by the evening of Thursday, February 19th. Note that this update will affect depreciation for Schedule E (Rental Properties) only. Schedule C (Self-Employment) was updated previously, and should be working in all versions of TurboTax.  (Problems receiving the update? See: troubleshooting for TurboTax Online)   You can sign up at this link to be notified via email when the depreciation and amortization forms are available in TurboTax.