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I did receive a k1 marked as final on it in 2025 with a loss of 1,900 for 2024.  The only thing I received for the “buyout/severance” payments for 2025 was a 1099-misc with the payment amount in box 3 which I received about a week ago   On the tax basis question.  I now know I am responsible for this information, but until I started looking this info up several weeks ago, I never knew I was supposed to keep my tax basis.  I guess I assumed the business accountant would have this info but I really never thought about it.  This was never explained to me by my business partner who was also the CEO/president/control freak of the company and used his personal accountant for the business taxes.   Much of the problems over the years is bc the business had to be formed quickly in 2012 as we had to leave the prior investment company hastily bc the formers owners of the business we worked for had to be turned into the SEC for personal trading violations.  Therefore, the normal partnership agreements, shareholder ownership, compensation, etc… were never formally set up.  

Here is an article that is on topic: How do I prepare a joint federal return and separate state returns?   To summarize, to file a joint federal return and separate state returns in TurboTax, use the Desktop version and follow these steps: Ensure your state allows separate filing if you filed a joint federal return. Prepare and file your actual Married Filing Jointly (MFJ) return with the IRS. For the 1st Spouse: Save a copy of your joint return, change the status to "Married Filing Separately," and delete the other spouse's income/deductions. Use this to generate and mail the first state return. For the 2nd Spouse: Start a new "mock" file from scratch as "Married Filing Separately" with only their data. Use this to generate and mail the second state return. Important: Only file the one joint federal return and the two separate state returns. Never file the "mock" federal returns used to create the state paperwork.

If you got a message that said  "Hmmm it looks like we hit a snag" it  is often due to a connectivity or browser issue. You can file your U.S. tax return online from Germany using TurboTax. You will need a stable internet connection, a U.S. bank account for any refunds, and a U.S.-registered credit/debit card with a U.S. billing address to pay for the service.   You can try these steps to correct this:  Go out of your program, close your browser and go back in. Clear your cache and cookies. Click here for How to clear your cache. Click here for How do I delete cookies? Try a different Web browser, such as Chrome or Firefox. Make sure you have allowed local network access by clicking the lock/info icon next to the URL. If you are using a VPN, disable it. Make sure your internet connection is strong and stable Try using incognito mode  Temporarily disable antivirus or firewall software that might be blocking data transmission If you are using TurboTax Desktop, you can manually check for updates for  your TurboTax program by clicking on "Online" in the black bar near the top of your screen and selecting "Check for Updates."  It may be a temporary server issue. This requires you to wait and try again later. Please return to Community if you have any additional information or questions and we would be happy to help.

do you have QBI loss carryovers on this property?   The gain on sale of the property does not qualify for the QBI. ny current year QBI is reduced by QBI loss carryovers from prior years. There is also a phaseout if your income is too high. look at the 8995 Did you enter everything in H&R so it exctly matches what's in TurboTax. if not, that could well be the reason  

Stupid question where is Find my 2025 tax file? I see open tax file, but not find my tax file? Again I am using the desktop premier turbotax software. The problem was solved the next time I opened TurboTax, which updated on its own, but I am curious if this ever happens again.  It took my breath away when it happened.

You can deduct mortgage interest on a Canadian vacation property by reporting it as a second home on Schedule A (Form 1040) as an itemized deduction. Even without a Form 1098, you can enter the total interest paid directly into TurboTax by selecting the option indicating you did not receive one.   You can designate one home in addition to your primary residence as a qualified second home to deduct mortgage interest, provided it is used personally and not rented out for most of the year   To do this, you can:   Click on the Search icon at the top right of your TurboTax screen Type 1098 in the search box Click on the link Jump to 1098 Your screen will say Did you pay any home loans in 2025? Answer Yes Your screen will say Who's your mortgage lender? Enter it and Continue Your screen will ask Do any uncommon situations apply? Check the box The seller is financing this loan and I did not receive a 1098 and Continue On the screen that says Let's get some info about XXXX now, enter the details and Continue Your next screen says Let's get the rest of your mortgage info, answer and Continue On the screen that says Is this loan secured by a property you own? Answer and Continue On the screen that says What kind of property is this loan for? Answer Second Home and Continue Continue through the rest of your TurboTax screens and answer all follow-up questions   See also:   Where do I enter my 1098 mortgage interest statement?   Publication 936, Home Mortgage Interest Deduction Please return to Community if you have any additional information or questions and we would be happy to help.