All Posts

When we printed and sent in our state (michigan) return, TurboTax did not print all items as there were more than the printed sheet could hold. Tis caused the Michigan IRS to recalculate our taxes. This is a major bug and needs addressed ASAP.

We are dissolving pass through partnership LLC. Form 7217 in 1040 for partners requires a fair market value of assets (section 179) to be supplied by partnership. What form in 1065 will generate a FMV of assets (section 179)?

I (executor) am preparing the 2025 tax return for my mother who died on 11/29/25.  Is if allowable to take the amounts on the 1099-INT (and the 1099-DIV), multiply the total by 11/12 (she lived 11 months out of 12), and attribute the adjustment part to the reason:  "I received all of part of this interest for someone else (I am a nominee)."  or should I fill in "Other Reason."

Hello- I had a basic 1099 B upload question re: accuracy of uploaded data please:   I downloaded a 1099 B from Merrill - the description of property shows the correct stock name but the shares are not showing after the company name   Do I leave it alone as it was uploaded? or do I go in and edit it to say x shares after the company name ?  Not sure if it matters but my inclination is to leave it alone so that it syncs with the source document   thanks for any help and double checking me !

I have the desktop copy of Turbotax Home and Business and I've discovered a severe bug with its Schedule E handling this year.   Background: I have owned a 2-family house in Massachusetts for 29 years. I live in the upstairs 2 floors and rent out the ground floor and always have since I bought it. When I first used Turbotax after buying the house, I discovered that Turbotax would allocate everything for me so long as I told it what % of the house was for rental use. This allocation has always shown up, year after year, on Schedule E Worksheet under "Owner-Occupied Rentals" On line Q with line P ("Check to allocate personal use items to Schedule A") checked. I only ever had to check line P and enter that percentage once only, decades ago, the first time I used Turbotax, and the product always just flows those over from the previous year's return.   This year, however, Turbotax instead moved those values up two lines: it checked line N in the "Ownership Percentage" section ("Check to allocate income and expenses using ownership percentage") and moved the 38.5% from line Q up to line O -- THIS IS A MAJOR BUG. When I glanced at the worksheet, I didn't initially notice anything, since the familiar 38.5% was on the page as per usual.   This meant not only that my real estate taxes and mortgage interest (yes I refinanced a few times) didn't flow to schedule A, but that *it only reported 38.5% of my rental income*.   Depreciation also seems broken on the Schedule E worksheet. I did get a warning back in January when I began working on taxes that the deprecation form wasn't ready yet, but the forms do seem to be there. But the depreciation is blank. It's been 29 years, and I thought depreciation didn't zero out until the 30th year but I could be wrong about that.