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It is now February 17th -- Why is the depreciation schedule not available?  Can we get a refund for our non-working TurboTax software?  Should we use a competitor's product.  I am not happy and I think that I am not the only unhappy customer!   TurboTax is spending MILLIONS advertising on TV and the product doesn't work.  Shame on you!

There are a few firms missing in the import list. Acorns, for example, is missing and Merrill just got added last week. You might want to give it a week or two and see what happens. I am aware of some friends, family, and clients who have accounts at Morgan Stanley (including E*Trade) and a couple of other brokerage firms who told them their consolidated 1099s won't be available until the first week of March.

this is a bit confusing to follow what your referencing on each line back to 2023 but from what you're describing...   for 2023 you only had a non-deductible contribution.  think of backdoor roth as 2 separate transactions, the contribution to the Trad IRA can be done in March 2024 backdated to 2023, but the Roth conversion part done in 2024 would apply to your 2024 taxes.   your 2023 8606 should have only reflected the contribution and a basis carryover to 2024, no tax unless you were doing any other distributions or conversions in 2023.   your 2024 8606 line 2 should have had that carryover, plus the 2024 contribution done in Sep 2024 on line 1.  You should have had 1099-Rs totalling both the Mar and Sep Roth conversions that should have landed on line 8.   I'll pause there if that helps unravel what happened between 2023/4 and if still stuck pls post more details what you are seeing on the 8606s.   If you need to amend 2023 taxes you can only do that on desktop and print/mail the 1040X etc.  If you only need to fix the basis on 8606 or didn't file 8606 and it has no tax impact, I don't think you need to amend taxes for that if the 1040 didn't change but not sure all the rules - see comments at the end of this article about prior year 8606. https://ttlc.intuit.com/turbotax-support/en-us/help-article/retirement-benefits/enter-backdoor-roth-ira-conversion/L7gGPjKVY_US_en_US   if you paid tax in 2023 that was a mistake you can still get a refund on 2023 (2022 deadline for refunds is this April).   to do an amendment for prior year in desktop it's important to save a copy of your .tax file for the original return, see guidance here (and always have backups anyway - also ensure you have PDF with all forms and worksheets as your official filing record, the .tax files can only be opened by Turbotax and they stop supporting the s/w after a few years). https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/amend-change-correct-return-already-filed/L4VjJ9BA2_US_en_US

To clarify, did you make this election last year, since you mention "it didn't seem like an issue last year"? If this is the case, you do not need to make the election again this year and attach the IRC §6013(g) election statement.   @erictaur

I am having this same issue trying to file my 2025 taxes.  I looked at the Forms like you suggested and the amount I entered in General Income that didn't update on the screen view didn't update on the form.  Help!

No one in the user forum can see your 2024 tax return so we can only offer guesses.   Did you enter a Social Security number for the child on your 2024 return?   Did you answer correctly when it asked if the card is valid for employment?    When it asked in MY INFO if the child paid for half his own support did you say NO?   If the child was born in 2024 did you say they lived with you the whole year?   Did you enter income from working?  The refundable part of the CTC, which is called the additional child tax credit, is based on the amount you earned by working.

@johnw42598 wrote: I waited until Wells Fargo Advisiors said the forms would be available, today. The forms can be downloaded from the Wells Fargo website. Yes, but it typically takes a few days (and sometimes a week or more) for some brokerage firms to get the forms (1099s) into the proper format for importing into tax preparation software.

Qualified Tuition Plans  (QTP 529 Plans) Distributions General Discussion It’s complicated. For 529 plans, there is an “owner” (usually the parent), and a “beneficiary” (usually the student dependent). The "recipient" of the distribution can be either the owner or the beneficiary depending on who the money was sent to. When the money goes directly from the Qualified Tuition Plan (QTP) to the school, the student is the "recipient". The distribution will be reported on IRS form 1099-Q.  The 1099-Q gets reported on the recipient's return.** The recipient's name & SS# will be on the 1099-Q. Even though the 1099-Q is going on the student's return, the 1098-T should go on the parent's return, so you can claim the education credit. You can do this because he is your dependent. You can and should claim the tuition credit before claiming the 529 plan earnings exclusion (unless your income is too high).  The American Opportunity Credit (AOC or AOTC) is 100% of the first $2000 of tuition and 25% of the next $2000 ($2500 maximum credit). The educational expenses he claims for the 1099-Q should be reduced by the amount of educational expenses you claim for the credit. Room and board (R&B) are also qualified expenses for the 529 distribution, but not the AOC (R&B are also not qualified expenses for a scholarship to be tax free). But be aware, you can not double dip. You cannot count the same tuition money, for the tuition credit,  that gets him an exclusion from the taxability of the earnings (interest) on the 529 plan. Since the credit is more generous; use as much of the tuition as is needed for the credit and the rest for the interest exclusion. Another special rule allows you to claim the tuition credit regardless of whose money was used to pay the tuition. In addition, there is another rule that says the 10% penalty is waived if he was unable to cover the 529 plan withdrawal with educational expenses either because he got scholarships or the expenses were used (by him or the parents) to claim the credits. He'll have to pay tax on the earnings, at his lower tax rate (subject to the “kiddie tax”), but not the penalty.   Total qualified expenses (including room & board) less amounts paid by scholarship less amounts used to claim the Tuition credit equals the amount you can use to claim the earnings exclusion on the 1099-Q.  Example:   $10,000 in educational expenses (including room & board)    -$3000 paid by tax free scholarship***    -$4000 used to claim the American Opportunity credit  =$3000 Can be used against the 1099-Q (on the recipient’s return)   Box 1 of the 1099-Q is $5000 Box 2 is $2800 3000/5000=60% of the earnings are tax free; 40% are taxable 40% x 2800= $1120 There is  $1120 of taxable income (on the recipient’s return)   **Alternatively; you can just not report the 1099-Q, at all, if your student-beneficiary has sufficient educational expenses, including room & board (even if he lives at home) to cover the distribution. You would still have to do the math to see if there were enough expenses left over for you to claim the tuition credit. Again, you cannot double dip!  When the box 1 amount on form 1099-Q is fully covered by expenses, TurboTax will enter nothing about the 1099-Q on the actual tax forms. But, it will prepare a 1099-Q worksheet for your records, in case of an IRS inquiry. On form 1099-Q, instructions to the recipient reads: "Nontaxable distributions from CESAs and QTPs are not required to be reported on your income tax return. You must determine the taxability of any distribution."  ***Another alternative is have the student report some of his scholarship as taxable income, to free up some expenses for the 1099-Q and/or tuition credit. Most people come out better having the scholarship taxable before the 529 earnings. A student, with no other income, can have up to $15,750 of taxable scholarship (in 2025) and still pay no income tax. 

We have been advised by management that the work on the depreciation section of TurboTax is continuing and expected to be completed with an update to TurboTax coming the evening of Thursday, February 19th.   @johanssonleo02 

Other "tax processors" have not updated their systems. H&R Block, for example, has not yet updated their rental section to include depreciation.    Intuit has purportedly scheduled an update for Thursday night or Friday.

I got this message today when doing my Schwab import "Success! We got your tax data. You can now return to TurboTax." but when I go back to Turbo Tax, the data is not on my 1040. Anyone else having these problems?

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