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Your state return can be amended using the steps in the link below for 2023 and 2024. You will have to use TurboTax Desktop and begin with the federal even though you are not changing or amending that return.     After you enter the 1099-R, TurboTax will ask you ''Where is this distribution from?''.  As long as you select the 'Bailey settlement' button, TurboTax will apply the deduction to your NC state return automatically. How do I amend my state return? How do I amend a federal return for a prior year? Note: IRAs are not Bailey eligible.  IF it was an IRA, then you can't claim Bailey Settlement for that distribution.   @thomaspacker1 

Looks like I have THREE Microsoft C++ apps: Microsoft Visual C++ 2010 x86 Redistributable - 10.0.30319  (dated 3/26/2024) Microsoft Visual C++ 2015-2022 x86 Redistributable (X64) - 14.44.35211 (dated 2/8/2026) Microsoft Visual C++ 2015-2022 x86 Redistributable (X86) - 14.44.35211 (dated 2/8/2026)   I'm suspecting the last two because they're the closest to the most recent Microsoft system update. Three weeks ago I opened last year's TurboTax to grab a document and now I can't even open that version of TT.   Do I get rid of all 3 MS Visual C++ apps?  

When you enter each annuity, report the amount that you received as the RMD for that account.  Similarly, for you IRA withdrawal of $20,000, you would report that amount as having satisfied the RMD.  This will allow TurboTax to correctly report that your RMD was satisfied and that you won't be penalized for not having withdrawn enough.  This way, you will also not need to use Forms mode to input any data - everything should be entered in Step-by-Step mode.   Using your information above, your RMD for 2025 would be $39,000.  The payments of $5000, $4000, $10,000 and $20,000 from each of the accounts would satisfy the aggregate RMD for 2025.   With Secure Act 2.0 allowing the excess from annuities to be put toward your aggregate RMD, this allows you to reduce the IRA withdrawal as you had.

Yes. If your plan is a 401(a), you should not check the box that says "Yes, this is a 403(b) plan."    If you do, you are effectively telling the software, "I have a Tax-Sheltered Annuity," which triggers the confusing questions about annuity start dates and cost basis.   Follow these steps to bypass the annuity loop: On the 1099-R entry screen, make sure Box 7 matches your form (likely Code 7 or Code 1) Ensure the "IRA/SEP/SIMPLE" box is unchecked (since it's a 401a, not an IRA) When the software asks, "Was this distribution from a 403(b) plan?", select "No, it's another type of qualified retirement plan" By selecting No, the software should treat it like a standard pension or 401k distribution and skip the "Annuity" questions entirely

Follow these steps: Open your return Select Forms mode Locate 5329 in your list on the left of the screen Scroll down to Part II Enter the amount showing on line 5 from the 529 on line C   I am assuming you mean the waiver of the 10% penalty on Form 5329 which applies when a distribution becomes non-qualified because a scholarship covered the same expenses. The program should be seeing the Q and T and apply the exception code.    The goal is for your tax return FORMS to be accurate. The 1098-T is an informational form, all the worksheets in the program are not tax forms and do not go to the IRS. The Form 5329 containing the penalty, is a form that goes to the IRS.   Reference: 529 Plans and Taxes

Thank you all for your responses.  The brokerage company put the dividend into my IRA, but there is no related 1099(R?) from the brokerage company to report this transaction.  My IRA was increased by this dividend amount as "cash deposit" that was lumped into one line item along with the company stock shares at their transferred price that said - [rollover contribution "name of company that I worked"] on the brokerage IRA statement.  Based on your responses, it looks that the best way is to report the dividend that shows on the 1099DIV as dividend on schedule B?  And if I used the nominee distribution to adjust the dividend to zero on schedule B, am I supposed to send a 1099DIV form to the "actual owner", which would be the brokerage company, and also file a form 1096 with IRS?  I am kind of confused; the nominee distribution adjustment instruction (see below) appears to say I need to send a 1099R form to the "actual owner" and file a form 1096 with IRS.  The tax on the dividend probably is about $25, maybe it is better to just report it as dividend and pay the tax on it, and not worry about any adjustments.   "A 1099-DIV nominee is an individual who receives dividend income in their name, but the income belongs to someone else (e.g., joint accounts, trust, or inherited property). The nominee must report the total, then deduct the portion belonging to others as a "Nominee Distribution" on Schedule B. The nominee must issue a new Form 1099-DIV (by Jan 31) to the actual owner and file it with the IRS using Form 1096 by Feb 28 (Mar 31 if e-filed)."   (sorry about the cross posting.  I re-posted the question because  I found additional information on my initial posting). 

@DaveF1006    NO!  The foreign country charged INCOME TAX ($15K) on the gross proceeds of the sale amount ($50K).  Their was no inheritance tax or cost basis involved.  They charge a % of the sale amount as income tax.  Everything we discussed was correct.   I have carefully reviewed our Q&A in this thread and realized I did not explore the option of taking the house sale foreign tax as a credit per your instructions from above in a previous reply (reproduced below in italicized font):   "As you navigate through the foreign tax credit section, your dividend and interest information is already reported. You need to report the sale of the house and report the gross amount of the proceeds..   Go to Deductions & Credits  Estimates and Other Taxes Paid > Foreign Tax Credit. Follow the prompts  It will first ask you to report the income for the dividends and interest. In this case, you just need to check a box next to the dividends and interest to record the income. After this is done.  There should be two country summary screens. When you get to country summary screen, select edit next to the country XX that reported the interest.  Here it will ask you to report other Gross income XXX.  You will report the Gross proceeds from the sale. Don't enter anything for expenses. Continue through the screen until it asks you to enter foreign taxes. Here you will enter foreign taxes on other income. Finish out the interview screen until you are done." It turns out if I report the gross proceeds from the sale of the inherited house per these instructions, I can take ALL of the foreign taxes paid, including ones reported on 1099-INT and 1099-DIV, as credit and in that case do not need to itemize the house sale foreign taxes as a deduction.  This would result in the most favorable tax outcome, as you can well imagine.   If I do what you suggest above, in Turbotax interview for France's Passive Income piece of 1116, I input: Then I don't enter anything for expenses or losses as you suggested: The first part of resulting 1116 looks like the following.  The $600 in France's 1099-INT income and $500 itemized deductions are US personal property taxes. and   Then I enter income taxes withheld on the house sale as you had indicated earlier: This results in FULL credit of foreign taxes, where the house sale proceeds are treated as ORDINARY INCOME (not long term or qualified gains), 100% consistent with the treatment by France.   The MISTAKE I was making is that I was entering $100,000 of ordinary losses on this income (and $50 ordinary expenses, although that is less important) to be consistent with the US TREATMENT of this sale per 8949.  If I do so, then the following is what I see.  First picture shows the $50 expense for appraisal per 8949 and the second picture shows the $100,000 loss per 8949 ($50K sale price - $150K basis).   This results in modifications to the 1116 shown above.  Note the changes on Lines 2 and 5.   This results in complete inability to take ANY foreign tax credit and all of it is carried forward which I will never be able to utilize.   SO the key difference between the two approaches is whether I treat the foreign proceeds from the sale of the inherited house as ordinary income, consistent with your instructions and 100% consistent with the foreign country's treatment of those proceeds, or do I treat the foreign proceeds from the sale of the inherited house as a short term capital loss (there is no provision in 1116 for a long term capital loss) along with expenses?   This question is key and your help will once again be much appreciated!  I've taken a whole day to draft this reply, your careful review will be very valuable, please DM me or post a reply here if any more clarifications are needed.

No. None of those codes accurately describe your situation so let me make another suggestion on how to report this.    Open your return and go to Federal > Wages & Income.  Scroll to the very bottom to the Less Common Income group. Click Start (or Revisit) next to Miscellaneous Income, 1099-A, 1099-C. Select Other reportable income (usually the very last option). Other taxable income  Click Continue past the screens until you reach the screen that says other reportable income at the bottom. When it says any other taxable income. Mark yes. Description: Enter EXCESS 457(B) DEFERRAL Amount: Enter 2200 Click Done. This is a much simpler method since it doesn't require the use of codes, but still captures the income in your return.   @peterlkim11 

@Seth7363 No one in the user forum knows when your refund will post to your bank account.   That will depend on your bank and when the bank posts deposits.  You will just have to keep checking your own account.