All Posts

Thanks. As I suspected. In fact, the depreciation was increased in 2012 when the capital improvements were made by my wife's ex, but apparently the cost basis increase didn't carry through in Turbo Tax from then until now. We are paying for the Depreciation recapture, but unable to also take advantage of the cost basis increase. Darn!  Too complicated unfortunately to try to correct it seems, as it was partially done right, but just not carried through for some reason over the years.

I am afraid I had to click on each one.  Each worksheet needs to be completed and then the exclamation point goes away.  Then it can be saved.  If you don't finish all, your entries are not saved.  If the exclamation point persists, scroll to the top and click down one page at a time - sometimes turbotax or I have skipped a page that needs to be check marked.  I only had about 200, so not so bad.  Sorry I don't have any better advice.

The amended forms are not quite ready yet, but you can use this tool to see when they become available. It is possible that the IRS will catch your error and send you a letter telling you that they are adjusting your return so be sure to wait until your return is fully processed before amending.  If they process your return and you do not receive a letter telling you your return has been adjusted, then you will need to Amend Your Return .   A few notes amount amending You will have to use the same TurboTax account that you used for the original tax return.   The refund calculator will start new at $0.  The new number you see will be the number you now owe or the extra you will get back.  This number takes into consideration the amount of your refund or payment in the original return.  Select your product below and follow the instructions.  Amend TurboTax Online  Amend TurboTax CD/Download  

This is not a TurboTax issue. The IRS has issued a correction to the 2025 Instructions.    We have corrected the calculation for joint occupants of a home who are claiming the energy efficient home improvement credit in Part II of the 2025 Form 5669. Please refer to the instructions below with respect to the joint occupancy section on page 3 of the 2025 Instructions for Form 5695. If you downloaded or printed the 2025 Instructions for Form 5695 prior to Jan. 26, 2026, please note the correction. Although, the IRS is saying March 6, if this is the date that they will have the forms corrected, TurboTax software will take a little bit to then make the changes.  You can attempt to refile on the 6th or wait for several days after that.  At this point I do not see anything stating a date as it does depend on the IRS actually getting their instructions and forms fixed before anything else can be done. 

It depends. It’s usually because a box was accidentally checked, indicating you stopped using the vehicle for business in 2025. Here is how to check for that.   Go to Wages & Income > Self-Employment Income and Expenses. Select Edit next to your business name. Scroll down to the Vehicle section and select Edit next to your car. Look for a screen titled "Tell us about your [Vehicle Name]" or "Vehicle Summary." Look for a checkbox that says "I stopped using this vehicle for business in 2025." If it is checked, uncheck it. If the date field below it has a date (like 12/31/2025), delete the date entirely before unchecking the box.        

sknaf - Thanks for the info. I gather that you use a downloadable desktop version of TurboTax, whereas I am using a browser based online version, and that's where you got that update detail. Interesting that it was updated for you almost 24 hours before Intuit's Mountain View, CA, people finally got it working. They must not have gotten the message that it was supposed to work the day before. But it is good to know that those guys out in Silicon Valley do really, genuinely care about us little people out in the heartland - eventually. Regards, 😉 Mike O'Brien 

It depends. TurboTax uses its “Best Tax Result” logic to review your Qualified Business Income (QBI) and Energy Credits. That’s why the software may be setting aside your higher itemized deductions—it’s looking for the option that saves you more.   The QBI deduction (Section 199A) for rental activity is typically 20% of your qualified business income. But there’s an important limit: your QBI deduction can’t be more than 20% of your total taxable income (before the QBI deduction).   If you itemize ($32,000): Your taxable income goes down. If it drops too much, your QBI deduction also gets smaller. If you take the standard deduction ($31,500): Your taxable income is a little higher, which may let you claim a bigger QBI deduction. TurboTax checks both options. If the extra QBI deduction from taking the standard deduction is worth more than the $500 difference in your itemized deductions, the software will pick the standard deduction since it leads to a lower tax bill.