All Posts

Yes.  It is so difficult to get past the automated telephone system.  Insist that you need expert help because your program is not working.  Once you get through and your problem is not resolved get a support ID from them. I have been always downloading my TurboTax from the link provided by order cofirmation email.   I never had any problem installing and working with it.  This year it has become ridiculously difficult. You may be doing every thing right.

I did all of the steps, also cleared browser history, shut computer down, re-started...all of my financial institutions show a screen saying it's a success, but nothing is actually imported into TT.  I guess that TT has a different meaning for success!!

No. You don't use addtional tax payments to generate the penalty.  Here is the flow for how to enter in TurboTax and generate the 5329.   Follow these steps to force TurboTax to generate Part V of Form 5329:   Go to Federal Taxes > Deductions & Credits.  Locate the Education section and click Start/Revisit next to ESA and 529 (Form 1099-Q). Even if you did not receive a 1099-Q, you must proceed through this interview. When asked, "Were you the beneficiary of a Coverdell ESA?" (or if you are entering it for a dependent, answer accordingly), say Yes. Continue through the screens until you reach the prompt regarding contributions. Look for a screen that asks about excess contributions for prior years or current year contributions. Enter your excess amount there. TurboTax will spot the excess and create Form 5329 with the tax figured in Part V. That amount will then show up on Schedule 2, Line 8.

Your best option is to revisit the California state tax section and review your answers to all questions about your business. Also, be sure you allow all updates when you restart TurboTax Desktop.   @fquinone 

If you would like to send us a “diagnostic” file that has your “numbers” but not your personal information it would help.  If you would like to do this, here are the instructions:  (Don't forget to give us the state)   TurboTax Online: Open your return -Go to the menu panel on the left side of your return and select Tax Tools.  Then select Tools below Tax Tools. A window will pop up which says Tools Center.   On this screen, select Share my file with Agent. You will see a message explaining what the diagnostic copy is.  Click okay through this screen and then you will get a Token number. Reply to this thread with your Token number and your state. This will allow us to open a copy of your return without seeing any personal information. TurboTax Desktop: If you like, you can send a copy of your return that will be scrubbed to eliminate your personal data by using these steps: Click on Online in the top left menu of TurboTax Desktop for Windows Select 'Send Tax File to Agent'* > Follow the prompts to reach the token number. Enter your email used for TurboTax > Enter your code > Send Write down or send an image of your token number and state then place in this issue. We can then review your exact scenario for a solution. Please also tell us any states included in the return. This is necessary for us to view the return. *If using a MAC, go to the menu at the top of the screen, select Help, then, 'Send Tax File to Agent')   We will be able to see exactly what you are seeing and we can determine what exactly is going on in your return to provide you with a resolution.   @kevinigreen 

The form is made available after you finish your return, complete the final review and proceed to file. The program will see eligible children  on your return and ask about if you want to open the accounts. Eligible children born in 2025 can elect to have the $1,000 deposit.  

The designated beneficiary is the individual to receive the benefit of the funds in the account.   If you are the designated beneficiary and you are receiving the distribution, the answer is Yes.     The explanation for IRS form 1099-Q states:   Box 6   The designated beneficiary is the individual named in the document creating the trust or custodial account to receive the benefit of the funds in the account. If you are not the designated beneficiary, see IRS Publication 970.

@Howard424    TurboTax should not even be asking whether your spouse can be claimed as a dependent on an MFS return. The IRS instructions say that that box (on Form 1040 line 12a) should only be checked if you are filing jointly. That's why Smart Check is flagging it as an error. Your spouse being a dependent has no effect on an MFS return. What I think you should do is go back to the spouse information and answer No to the question "Can anybody else claim [Spouse] as their dependent for 2025? It won't make any difference in your tax return, and everything else should proceed normally.