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Form 1099-NEC is for non-employee compensation (services). Passive lease bonuses and rents should be on Form 1099-MISC, Box 1.  You can report as Rental/Royalty income.  This method places the income directly onto Schedule E as passive income.  In TurboTax: Go to the Federal Taxes tab and select Wages & Income. Find the section for Rentals and Royalties (under Rental Properties and Royalties (Sch E)) and click Start/Update. Add a new property and describe it as Land or Royalty (specifically "Oil & Gas" if for minerals). When prompted for income, do not select that you received a 1099-NEC. Instead, enter the amount as Rent Received or Cash/Other Income.  

Thanks for this info: "A carryover from a prior year does not require filing. The IRS knows and holds it to 10 years."   My carryover had been properly filed every year until now. I'm filing an automatic extension, so maybe I'll get lucky and TurboTax will have fixed this bug by October, lol.

TurboTax forces an amount in Box 17 (State Information) of a 1099-MISC, it is usually because Box 16 (State Tax Withheld) has a value (even a $0.00 entry). To fix this, delete any zeros in boxes 16–18, ensure the state information is blank, or use the TurboTax Support forumto check for missing state IDs. 

For your short-term transaction, definitely use code B. I don't know why E*Trade told you to check box C which is only for transactions without a 1099-B while actively sending you a 1099-B, maybe the templates they use for their reporting are out-of-date. But anyway, yes, since you received a 1099-B, you'll use code B if it is short-term (sold after less than 1 year) and code E if it is long-term (sold after > 1 year).    You can take a look at Form 8949, and that can help you determine what entries to make in the interview screens. Short term transaction codes are listed on the top half of the form, and long term sales are on the bottom half of the from starting on page 2 (Part II).

Correct, if you made a nondeductible traditional IRA contribution for 2025 but the conversion in 2026 then you will only enter the nondeductible contribution part in your 2025 return. The conversion will be reported in your 2026 return when you get the 2026 Form 1099-R.   Can you clarify what you are seeing to believe this is taxed again? If entered correctly you the contribution will be nondeductible  and you will have a basis on Form 8606 line 14.   To enter the nondeductible contribution to the traditional IRA: Login to your TurboTax Account  Click on "Search" on the top right and type “IRA contributions”  Click on “Jump to IRA contributions" Select “traditional IRA” Answer “No” to “Is This a Repayment of a Retirement Distribution?” Enter the amount you contributed Answer “No” to the recharacterized question  Answer the next questions until you get to “Did you have any nondeductible IRA contributions to your traditional IRA from 2024 or prior years?” and select “Yes” if you had a nondeductible contribution before this tax year. Enter your basis in the Traditional IRA from your 2024 Form 8606 line 14 (if you had a basis in the prior year) On the “You have deductible traditional IRA contributions of $xxxx.” screen enter the amount you want to be nondeductible (if you have a retirement plan at work and are over the income limit it will be nondeductible automatically and you only get a screen saying you don't qualify for an IRA deduction).   @cgmcnal 

There is a worksheet that is included in the packet that has the K-1 information entered on it.  However, it does not hurt to include your actual K-1 and  yes, include the 7217 with your CA return as well. 

If you're adding a bank account to QuickBooks. Go to Transactions Bank transactions,  Select Link account, and  Search for your financial institution.  Sign in with your bank account  Select the specific accounts to connect, and  Choose the transaction date range This will start automatically importing data. Contact us again with any additional information.

Looking to maximize returns here... Both spouses are Us persons curently living and working abroad. would it be possible to file each spouse separetely and claim child tax credit only on the spouse who's income will not be excluded?