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The same thing happened to me. The irs recalculated mine also for 2024. They kept a couple of thousand. Tried to find a fix but no help. I did not check other country. With so many having the same problem it probably was turbo tax. So irs probably looked at any one that used the product.  Live and learn I guess. This year will check out other products. 

Did you sign up for the Advantage Plan so that you would get the desktop download software for 2025?   TurboTax Advantage Program: If you signed up for the Advantage program, you should have received an email in August reminding you that you enrolled, and another one in October reminding you to update your credit card information before the charge was incurred on your account. Did TurboTax have the correct email for you?  Check your spam mail if you did not receive the emails.     To cancel Advantage account https://ttlc.intuit.com/community/downgrading/help/how-do-i-cancel-my-turbotax-advantage-subscriptio... If you get charged for the Desktop program but can't install it, Turbo Tax has a special offer to move to the Online version. See info at the bottom of this Windows 10 End of Life article…… https://ttlc.intuit.com/community/articles/community-news-announcements/turbotax-windows-10-desktop-...       https://turbotax.intuit.com/personal-taxes/cd-download/advantage/  

@leenabelle in many cases, the taxable income reported on a W-2 is not the same as the gross income.  Why? because of 'cafeteria plan' items.  From Gross income subtract any 401k contributions, medical premiums, HSA contributions, etc.  Once all that stuff is subtracted the remainder is taxable income and what is reported in box 2a of the W-2.    if you have the problem with YTD so do other employees.  I can't imagine the Payroll Department doesn;'t know that and would permit all those W-2s to be reported incorrectly.    Until you see the W-2, there is nothing you can do about it in any event.  

thanks. His appox $10 in income includes about $500 of unearned income (bank interest that will come on a 1099-INT). He will file just to get his statutory withholdings of fed/state refunded - or hopefully at least some of it.  Does that make sense, or no?  Thanks for everyone's replies. I'm learning. 🙂

@doorcounty wrote: earn enough ($10k in 2025 income   one happy tax family with a slightly larger total income    If all of that $10,000 of income is from a job (less then $450 of non-job or non-self-employment income), he won't have "taxable income" and isn't required to file a tax return.  For purposes of the Premium Tax Credit (from the 1095-A), his income will NOT count towards that.    In a few cases, the SLSCP (column B of the 1095-A) gets messed up due to this circumstance.  You can look up the correct SLCSP on the Marketplace website to ensure that the proper amount is showing up on your Form 8962. https://www.healthcare.gov/tax-tool/#/    

@pk I skimmed this thread.   While it may be true that you don't have to take a tax credit that is afforded to you (and so in this instance stop taking the credit at $300/ $600), doesn't one have to assess the unintended consequence of that action?    If TT's math is that only $309 was eligible for the foreign tax credit, then what permits the taxpayer to grab the  entire $600 from the IRS?  Certainly that can't be permitted by any safe harbor.   I would question (with no basis frankly) that the IRS would permit you to claim less to get a higher tax refund.     Why is this any different than a Sch C self-employed taxpayer not claiming expenses so that the resulting income is higher and the CTC and EITC tax credits are higher.  That is not permitted.

@gjgogol wrote:  How do we get TT to change the words they use in those HELP and LEARN MORE links?    A LARGE amount of the "Help" and "Learn More" information is outdated, misleading, or outright wrong.  Intuit (the owners of TurboTax) doesn't really seem to care or review that material.

@_John__ wrote: fiscal ending date of Nov 30 as that aligns with 1099s produced by my property management company that end on Nov 30.     in order to use the fiscal date, but I hope I'm not missing anything more on that issue.   I did file my taxes from 7/2024 - 11/2024 on the 2024 1065 as it was a short year.   As I am preparing my taxes for 11/24 - 11/25, I tried starting in TT Business 2024, but when I select a fiscal tax year, the furthest into 2025 that it goes is June.        1099s are always filed on a calendar year.  Are you SURE your management company is filing them on a fiscal year?  If they are, they are doing it incorrectly.   Unless you can demonstrate a business purpose to a fiscal year, the required tax year is the same as the Partners.   If you have a fiscal year that begins in 2024, you use the 2024 software.  Because you also filed a 2024 short year return, it is unlikely you can transfer last year's file into the current year file.  If you did that, I suspect that is what is making the dates funky.   There are special calculations for short-year depreciation (you can't use the "tables" and can't just Basis divide by 27.5), and I'm not sure if TurboTax supports that.  And I suspect that because of a short year, the depreciation will always be a bit funky due to not using the "tables" for depreciation.   In my opinion, it sounds like you need to go to a good tax professional to get things straightened out.

@RH55 use this website - very accurate.  I have the same issue you do - attempting to maximize Roth converstions.  I use this website very easily.   https://www.dinkytown.net/java/1040-tax-calculator.html

Absolutely.  Purchased TT Business 2025 as I have for a number of years.  I prepared 1099s and W-2s for both my businesses in 2024; however, I cannot find a *.qef file.  When I attempt to transfer 2024 files and browse my TT directory, it finds no files.  Just wondering if there is something that has not yet been completed for this program??    also, when I go to the 2024 forms link in TT, I get the following message: Oops! It looks like you've accessed a link for a tax year that we no longer support.