All Posts

After you have entered the information reported on your Form 1099-R, one of the follow-up questions should ask about your basis in the account, or any non-deductible contributions that were made to the account.     If you did not see that as part of the follow-up questions, you can also enter the basis of an IRA in the Deductions and Credits > Retirement and Investments > Traditional and Roth IRA Contributions section of your return.     As you get started in that section, check the box for the type of IRA you have and go through the screens until you see a question about 'any non-deductible contributions' to your IRA.  Check 'yes' and then enter the total basis of the account.  Remember, this is only asking for the contributions that were made, not the total value of the IRA.   Your basis will be the $14,500 of non-deductible contributions that you made.   @DanielJBonis 

Because some people have been able to move past this error after installing the update, I think the issue causing you and others to still be stuck must be related to a hiccup with actually getting the update fully installed; let's confirm your state update with these steps:   Select View Installed Updates from the Online dropdown menu  Press the [+] next to California fiduciary to confirm your software received the February update  If the February update is not listed, then it hasn't fully installed, and there is some interference preventing this from happening. Additional troubleshooting steps to follow at this point:   Run as Administrator: Right-click the TurboTax icon Choose Properties Go to the Compatibility tab Select Run this program as an administrator   Check System Time: Ensure your computer's date and time are accurate, as discrepancies can cause secure handshake failures with the IRS.   Firewall/VPN: Temporarily disable VPNs or antivirus software during the update and filing process.   - Borrow a different laptop to install the software, load your .tax file, and e-file   Troubleshoot TurboTax Desktop for Windows issues (FAQ): I need help installing my software - Run the Windows System File Checker tool to repair missing or corrupted system files. - Delete the downloaded file and download TurboTax again from InstallTurboTax.com. Sometimes files get corrupted during the download process. - Restart your computer in Selective Startup Mode, and then install TurboTax. - Install TurboTax on a different computer. I need help updating my software - If updates appear to freeze or stop at 0% or 100%, don't end the download process, even if the Task Manager says TurboTax is not responding. Wait up to 15 minutes before doing anything. - If the Updater closes prematurely while you're checking for updates (usually with an error message or number), run the disk cleanup tool to delete unnecessary files and empty the Recycle Bin. Then select Check for Updates in TurboTax to resume the update process where it left off. - You can also download and install a manual update.   Troubleshoot problems with Windows Installer and the Microsoft .NET Framework (FAQ): The Microsoft .NET Framework helps software developers create applications quickly, efficiently, and with less code clutter. TurboTax for Windows relies heavily on the .NET Framework, so it's crucial that your .NET system files are up to date and functional. - Windows 11 comes with .NET Framework 4.8 - Windows 10 comes with .NET Framework 4.6 - Windows 8 comes with .NET 4.5, with automatic updates Troubleshooting - If you encounter errors or other problems with .NET, download and run Microsoft's .NET Framework Repair Tool. - If that doesn't resolve your issue, run the System File Checker and then open Control Panel and choose Programs and Files. Open .NET Framework 4 and select Repair. - If the issue persists, download and install Microsoft .NET Framework 4 from Microsoft's site. Windows Installer numerical errors If you receive a 4- or 5-digit Windows Installer error, we have specific help articles for your situation. - 1327: Windows Installer cannot write to the specified drive - 1601: Windows Installer service could not be accessed - 1603: Fatal error during installation   Manually Update TurboTax Business Software (FAQ): If you're having trouble updating your TurboTax Business 2025 software using the "Check for Updates" method, you can get the latest federal program update here: 1. Close TurboTax Business and all other programs except this browser window. 2. Select this link to download the 291 MB update. 3. Save the update file to your Windows desktop. 4. Double-click the update file w_bizrelsuperpatch... on your desktop to install the manual update.   Security software and TurboTax (FAQ): However, if your firewall blocks TurboTax software's internet access you won't be able to e-file, download state programs, or get the latest program updates.   In some cases, security software may misinterpret the actions of legitimate programs (like TurboTax). The security software would then block the program's internet access.   To prevent or resolve these conflicts: 1. Download the latest updates from your software's support site. 2. Adjust the settings or rules on your security software to allow selected programs (like TurboTax) to install and function as intended. Firewall software resources Most firewalls ask you for permission when an "unknown" program attempts to connect to the Internet. If you previously told your firewall to block TurboTax, your firewall will continue to do so until you add it to the list of allowed programs. In some cases, you may need to add TurboTax ports and addresses to the firewall's list.   Advanced users running Windows can manually configure firewall software by adding these processes as exceptions to Microsoft Defender or other installed firewall software: - C:/Program Files/Common Files/IntuitUpdate Service/IntuitUpdater.exe - C:/Program Files/Common Files/IntuitUpdate Service/IntuitUpdateService.exe   You can contact Customer Support for more guidance.   If the error continues, you can print your return and mail it: How do I file my return by mail?    

According to the Pennsylvania Department of Revenue, "If the PA S corporation has any Built-In-Gain to be recognized in a subsequent tax year, then the PA S corporation does have an RCT-101 filing requirement for that year."   Otherwise, the requirement for an S-Corp to include RCT-101 expired for tax years beginning after December 31, 2015.   As for PA 20S/PA65, a domestic or foreign PA S corporation must file the PA-20S/PA-65 Information Return if: During the taxable year, the PA S corporation or its qualified subchapter S subsidiary earned, received or acquired any gross taxable income (loss) allocable or apportionable to Pennsylvania, regardless of the amount of its income (loss), whether distributed or not; and/or The PA S corporation had at least one shareholder that was a PA resident individual, estate, trust, or single-member limited liability company.

Thank you for posting this!   Turbotax, please let us know if you can address this or if I have to start all over with a new tax software provider? I've invested a lot of time already on your platform but will do it all over again elsewhere if I have to.  Some solution is needed!  You were able to handle this last year it can't be that hard!    The folks at Koinly are reasonable. Work with them on some kind of solution please.  Talk to them! 

Because you are a U.S. citizen and you live in Canada,  you are required to file a US tax return if you meet the minimum income filing requirements.  Regaring how to report your income in the US, you would report it the same as in Canada, for example, wages as wages, pensions under pensions.  You will be able to indicate that your income is foreign and TurboTax will ask you the necessary questions.  You may be able to elect to exclude on your US return, some or all of your Canadian earned income.     For more information see:   Do I need to file a federal return this year?   Publication 54, Tax Guide for U.S. Citizens and Resident Aliens Abroad   Publication 597, Information on the United States-Canada Income Tax Treaty   @Mashied60 

If you receive a Form 1099-OID where all boxes are zero or blank, you generally do not need to enter it into TurboTax.  You can delete your Forms 1099-OID that were brought forward from last year (2024).   If you decide to enter your forms, you would leave the boxes blank rather than entering zeros. Sometimes entering zeros can interfere with calculations, such as for bond premiums.  

you hit on something i never had to deal with before. i would suggest commenting on TT's insta or FB posts with this issue. i did that and finally got them to work on my issue and generally be much more responsive. companies do not like being called out on social media and that is an effective way to get some help. be reasonable with your comment and of course don't put any personal info in the comment.

If you mean you have TorboTax Online Premium that covers Self-Employed Schedule C, you can downgrade.  However, the Premier version It covers the sale of stocks, bonds, cryptocurrency, and mutual funds, while also handling rental property income, expenses, and depreciation.   Log into TurboTax. Click My Home (Top left) Select Personal Info and Continue This will bring up a full menu on the Left side.. On that left menu,  Scroll down to Switch Products Click the down arrow You can  Upgrade Downgrade or Clear and start over. Select what you want to do.

Koinly released this guidance 4 days ago: https://koinly.io/blog/how-to-do-your-crypto-tax-turbotax/#how-to-report-crypto-with-turbotax-desktop Sounds like there is a workaround but Turbotax could probably fairly easily support this correctly just as they did last year.   Turbotax mods -- with tax day approaching can you please talk to your devs and let us know if waiting might yield helpful results for us please?

When entering Schedule K-1 (Form 1065), Box 11 Code A requires additional information. TurboTax presents a page titled "Enter Code A Detail" with a list of possible reporting options. One of the options is "Other Portfolio Income (Loss) to be reported on Schedule E Page 2." Check this box to allow the amount from Box 11 Code A to flow to Schedule E. Be sure to enter a description and amount in the boxes that appear.   @mbcohen139