All Posts

Report it as "sold" to the insurance company for the amount of the settlement.  The program should be able to calculate whether any part of the settlement is taxable income due to recapture of depreciation.  

When you enter your income and expenses for your rental, TurboTax will ask you how many days the property was rented.     Go to Wages and Income and select rental income Select Start or Update next to Rental Properties and Royalties (Sch E). Answer Yes to the question Did you have any income from rentals or royalties? Follow the on-screen instructions As you enter the information you will need to indicate that this is the first year you rented the property, and also mark that the property was not rented every day during 2025.     

I should have added to my initial post.  There is a screen with three RDM OPTIONS you can choose. First was stating that he's you did not take enough RDM. But the third is to request an exception and waver from the IRS. There is a very small box you can enter your reason. I am using this explaining mine and my wife's RMD are correct having verified with my financial institution and explaining this is a known Turbo Tax coding problem that they are not addressing or providing a fix. I stand by my 1099Rs as correct. I am confident in my documentation. The IRS can review and can honor the request. The penalty TT calculates is $559.  Shame on Turbo Tax.  

If you are using TurboTax and get the "snag" message, try these troubleshooting steps:   If using Desktop - Make sure the software is updated . See this help article for instructions to run a manual update. Reboot your device. Check your firewall and antivirus settings. Make sure they aren't blocking any feature of the software. Please see this help article for more information. Clear cache and cookies     If you are still having trouble, you might also try these steps if using Desktop version:   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. If you have tried all of the troubleshooting steps and the issue is still not resolved: See this help article for instructions on how to contact TurboTax customer support depending on which product you are using. @Tto 

Remember that while contributions can either be for the current year or the past year (within limits), the conversion only happens on the date it happens.  This is not a problem when reported correctly. In this case, you had a $2000 contribution in 2024 only, a $7000 contribution in 2025, and a $9000 conversion in 2025. 

Go back through your Indiana return in TurboTax and verify the out-of-state income and taxes paid are entered. If you paid local tax to another state, Indiana usually allows a credit to prevent double taxation, but only if it was entered correctly in the “Taxes Paid to Another State” section. If that section was skipped or the income wasn’t properly allocated, the credit won’t show and your refund will be lower. 

That is strange!  So you changed the amount for Pennsylvania tax withheld in Box 19 of your W-2 by .20 and your full credit was given in New Jersey?  Did you enter the W-2 manually or import?  It could be a rounding issue, but the original $106 credit is a mystery.    We can take a closer look at this if you're willing to send us a sanitized return (all personal info removed).  To do this, click the ONLINE link at the top and choose 'Send Tax File to Agent'.  You'll get a token number, which is best to post in a screenshot here.  If you just type the number, it may be removed as being a phone number.   @DrCCCG 

form 8960 is not populating line 9b correctly.  The worksheet for form 8960 line 9b is also not populated (all 10 rows are missing). I tried deleting form 8960 as suggested.  the replacement form 8960 has the same error.  The worksheet does not allow me to manually enter the data.   interestingly, this was all correct until I switched from itemized deductions to standard deduction, which caused line 9b and the associated worksheet info to vanish.  switching back to itemized deduction did not fix the problem.     I called the help desk.   The first person couldnt help me and hung up on me.  the second person also suggested deleting form 8960, which didnt work.  Then I was put on hold for nearly an hour.   Can you please help?  Is there any way to manually enter the data?  (using the quick zoom takes me to the correct place, but does not let me manually enter anything)   if it matters, I'm using a desktop version on mac.   thanks!\

I'm not sure of your question. If the IRS adjusted your taxable income that was reported last year, you can file an accuracy guarantee. If you would like to explain more about your issue or how it is affecting this year, we are glad to help.

It depends. Are you sure you didn't file the tax return already? Check the information below to confirm and of course check your email. How do I check my e-file status? How do I contact my State Department of Revenue? If your tax return has been accepted you might also be able to access your transcript from the IRS. Get My IRS Transcript Current Year Transcript Availability