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Previously, your mom had a room and paid rent below fair market value so you could not claim the rental property. Now, you are charging full market value and able to claim the rental house. It is a new rental asset for you this year. Here are some key points: Select yes to new rental. Rented at Fair Market Value must be yes  rather than the family rate she had before.  Rental days - your mom's bedroom was occupied with her belongings whether she was in rehab or at home. The room was rented all year. Personal use days- zero. You were not using her bedroom or renting it out to others. Square footage - this is the amount of space rented to your mother exclusively for her use, common areas do not count. If she has a private bed and bath, that would be the rental space. Usually, just a bedroom. Take the square footage rented exclusively for your mother and her things divided by the total sq ft of the home. After you selected that you rent out part of your home and continue through the property profile section, a screen will ask "let us calculate your expense deductions for you" and you can choose to let the program do the math and you enter the rental use percentage or select no and you enter the correct rental portion for utilities, trash, mortgage, etc.

Yes, if state tax was withheld and reported in box 14, you have to enter a state distribution amount in box 16 that is at least as much as the amount in box 14.  If box 16 is blank, enter the amount in Box 1, unless there is an amount in Box 2a, in which case use that amount.

An exception code may not be part of the entry process, however you should be selecting the correct applicable checkbox on Form 8949 or a holding period with basis reported to IRS, if applicable. If basis is not reported to the IRS this will require mailing   If you select 'The cost basis is incorrect or missing on my 1099-DA' this will require mailing.   Review your entries to determine if you are required to mail your forms to the IRS.   @user17736349294 

Thanks for replying.  This sale has no depreciation.  It is the sale of a business.  This is how it is showing up on my TurboTax form 6252 Line 5 - Selling price - total value , Say $100,000 Line 16- Gross profit   $90,000 Line 18 - Contract price - The same a sell price in this case  $100,000 Line 19 profit %  Turbotax says 1.0  even though it is really .90 Line A1  Install made  $15,000 A2  Interest  $5,000 Line 21  $15,000 Line 22    $105,000   ( it is adding gross profit and installment payment) Line 24  $105,000     This problem is corrected if I answer differently in the TurboTax step by step questions.  If I input  the sale date of 12.31.2024 instead of 1.1.25  it gives my an installment payment of $15,000.   Help!  What am I doing wrong?    I really appreciate your help!            

How did you claim the VA PTET credit and did you have to pay an underpayment penalty?  Turbotax is incorrectly hitting me with an underpayment penalty (automatically filling out Form 760C) because it's assuming I didn't make quarterly payments (despite applying the PTET credit to my VA tax bill).

You will report as the sale of the investment the same way you would report the sale of a stock reported on a Form 1099-B.    While working in your return:   In the income section, Select Investments and Savings.... On the page "Did you have investment income in 2025?"  Answer Yes On the page "Let's Import your tax info" click on "Enter a different way" Select "Stocks, Bonds, Mutual Funds" on the OK let's start with one investment type When asked "Which bank or brokerage is on our 1099-B?" Give a description of the investment for the bank or brokerage, leave the other fields blank. Click Continue Answer the next three questions Answer Yes to "Did you buy every investment listed...." Select "One by One" Continue past the "1099-B" On the page "Now, enter one sale..." for Sales section, select either "Short-term did not receive 1099-B form" or "Long-term did not receive 1099-B form" Select the type of investment & give a brief description Enter the date acquired and the date you sold or otherwise disposed of the asset Enter your proceeds and your your cost basis (what you paid for the asset) On the next page, click Continue, and your done

Thank you for the response. I had a doubt: what should I do with the extra money that I received by filling out the form as a resident? And, is there no amendment required? Is directly filling new forms from Sprintax safe?

The Virginia (VA) Form 760C is supported in all TurboTax products, however the VA return must be mailed if this form is part of the tax file. Watch for this option and selection when you are working on your VA state return. 2025 VA Form 760C 2025 VA Form 760C Instructions You can always print your return before you file so that you can review them. You have access to all forms when you choose to print your return in TurboTax Online/Mobile.  However you are required to pay before printing, but do not have to file until you are ready. Can I print a copy of my return in TurboTax Online before filing? If you are using TurboTax Desktop you can switch to Forms and review all forms and worksheets.

If you want to make changes or add a document to a tax return that has already been filed and accepted by the taxing agency, you should follow these guidelines.    You must first wait until the initial return is completely processed. This means waiting until the payment submitted with the tax return has been processed, or your refund has been received.  You will have to use the same TurboTax account that you used for the original tax return.  Once you begin your amendment, you'll see your original return.   The refund calculator will start new at $0 and only reflect the changes in the refund or tax due  Only make changes to the areas of your return that need to be corrected. You have three years from the date you filed your return or two years after you paid the tax due (whichever is later) to file an amendment   

I RECEIVED A LETTER FROM THE IRS/STATE     TurboTax does not receive any information from the IRS or your state after your return was filed, so no one at TurboTax knows about a letter you received from the IRS or the state.   https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-audit/turbotax-audit-support/L6AcMoNFD_US_en_US?uid=m5z7by9u     https://intuit.taxaudit.com/audit-defense/help/contact     https://ttlc.intuit.com/turbotax-support/en-us/help-article/internal-revenue-service/got-cp2000-notice-irs/L7Da6em2t_US_en_US?uid=m4of6ngd