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I fully agree with this thread and the concern that has been expressed.  I've been using Turbotax for over a decade and have come to rely on ItsDeductible. I'm massively disappointed in the discontinuation of it and will be searching for a different product that enables me to track items I donate to various charities with the same ease. Discontinuing this software makes me more likely to discontinue Turbotax as well.

Correct and there's actually little rationale for using accrual for an estate; it's actually somewhat absurd in most all cases.   Indeed the legal, accounting, and perhaps fiduciary fees should more than wipe out the $2,900 in dividends received.

Yes, "Cash basis taxpayers deduct expenses in the year they are paid and recognize income in the year it is received." is taught in Accounting 1A.  But then too many people have brought up amending prior years tax returns.  Why?  These people seem to be seeing the trees and not the forest.   Of course, we's not certain that the OP's 1041 has elected to be taxed on a cash basis, she hasn't said anything about that.  In my over 45 years of public accounting practice, however, I have never seen an estate using the accrual method of accounting for tax reporting purpose.   Assuming the OP's 1041 uses cash method, she can deduct, at a minimum, all the legal and accounting fees paid/reimbursed in 2023.  Fairly sure that those fees would wipe out the $2,900 portfolio income.  

I apologize; I hit send before I explained the problem. As along time users of TT Premier (and we are a retired senior executive couple from IBM), I understand what you said and agree.  Thank you for your thorough explanation.  However, the problem I am trying to address is for the first time in many years, (TY 2024) our W-2s did not appear on form 1040 in the first line called W-2.  Instead they came in on Schedule 1 Part 1, line 8t.  These are 2 non qualified plans which we received in monthly amounts all year, for years... On the W-2s themselves, line 11 has the amount as well as in line 1, and nothing is checked in line 12...   Is this correct?  It's the only thing i can find that is unusual in my filed return.  Yet I have not yet gotten a return and an IRS agent assured me that the IRS must not have a copy of our W-2s and we should have our employer resend to the SSA for reprocessing to the IRS.     I'd appreciate any suggestions you have as to what to do about this; I'd really like my refund! Thank you. Nancy aka NanaNancy PS I am not used to using this system and sent another new question when I didn't see this could be replied too.  Happily most years TT works fine and i don't need help.  Anyway, this is the same as that question so if you see it you can delete it!  

Wait until your original return has been fully processed before you amend, and make sure you have saved a pdf of the original return before you amend. (If you do not save it as a pdf, the amended return will overwrite the original, and the original will be lost forever)     See this TurboTax support FAQ for amending a tax return -   CURRENT YEAR https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/amend-federal-tax-return-current-year/L7eS6o1qh_US_en_US?uid=lfunevhk   Do not expect quick results from amending. It can take four months or more for the IRS to process an amended return.     You can watch for information here: https://www.irs.gov/Filing/Individuals/Amended-Returns-(Form-1040-X)/Wheres-My-Amended-Return-1  

A few comments: First and foremost, I would recommend you meet with a tax professional to work through this change in entity structure.  A foot fault will more likely be far more costly in penalties than the fees for a tax professional. You will need to pay attention to the timing of the revocation election; impact on the allocation of income or loss in the year of change. You will need to pay attention to the allocation of income or loss as there could be an election necessary here as well. S corporations do not generate earnings and profits; as do C corporations. The regulations discuss the timing of distributions during the post S corp termination period (PTTP).  This is an important period to understand.  This is important as you do not want to have any of those "earnings" (effectively AAA) trapped in the C corp if you miss distributing during the PTTP.   Hopefully there is sufficient cash to make the distributions during the PTTP.  If there is not sufficient cash to make the distributions during the PTTP, the opportunity is most likely lost.  There is a Chief Counsel Advice Memo on this that indicates they disappear, but I haven't looked up to see if that is still being followed. Hopefully you have consulted the appropriate individuals in making this decision.  While the current C corp tax rate could be lower than your individual rate, there is no basis build-up, and any distributions will be taxed as well.

Do you need to move all the programs or just your returns?  Your returns are not in the program but in separate files.   You only need the file ending in .tax2023 to transfer into 2024.  Or the .tax2024 to transfer into 2025 next year.   Your tax files end in .tax or .tax2021 or .tax2022 or .tax2023 etc.  They should be in your Documents in a Turbo Tax folder.  You should also have the pdf files of each year.  Or search your computer for all files ending in .tax.  Also if you haven't done it,  I would open each year in the program and save it as a PDF file, go to File-Save to PDF so you don't need the program installed to view or print your return in the future like to get a mortgage or loan, etc.   What I would do is just copy the whole Turbo Tax folder that is under your Documents.  That should be where the .tax files and pdf files are stored.  Copy that folder to a flash drive or best yet is to burn it to a CD or DVD and then you will have a backup of them.   Then on the new computer copy the folder (or files) from the flash drive to your Documents folder.   The programs need to be installed from the CD or download them again.  You don't need to install them unless you need to amend or open a return.  They only support the last 3 years so you might not be able to update older years or download any state programs you need.   Since you now have to log into an Intuit Account all your downloads and licenses are listed there (even if you bought it from somewhere else) so if you need to download to install it again or install on another computer, even on the other operating system (Windows, Mac).  And the download will always be up to date with all the updates.   After you get the program installed the first thing to do before you open your tax return is to update the program and install any state programs you had. Then open your file. So you first might need to start a fake return to be able to download the state program (go to File-New Tax Return).   Then go to FILE -Open and find your return.    See this article on how to move your tax return to another computer……. https://ttlc.intuit.com/community/tax-data-file/help/how-do-i-move-my-tax-data-file-to-another-computer/00/26128

There are 3 ways to do Business returns.  You can buy and install the DIY Business program on a Windows computer  here….. TurboTax® Business Desktop 2023-2024 | Tax Software Download   Or you can use the Online versions Turbo Tax Live Assisted Business TurboTax® Live Assisted Business 2024-2025   Turbo Tax Live Full Service Business TurboTax® Live Full Service Business 2024-2025   FOR THE INSTALLED DESKTOP PROGRAM (I don’t know about the Online Live versions) For federal you can use one Business program for additional businesses, even if they are different kinds of business or an Estate/Trust.   You have to buy the state Business program separately from inside the federal program.   Preparing state tax returns for more than one business? When they are the same types of businesses (such as two S Corps) and file taxes in the same state, buy one state product and use for all at no extra charge. Business State efile included.   When they are the same types of businesses (such as more than one LLC), but file taxes in different states, buy one product per state for $55.  Business State efile included.   When they are different types of businesses (such as an S Corp and a partnership) and file taxes in the same state, purchase one product for each business type for $55 per each business type. Business State efile included.  

desktop 2024 DIY you can do five Federal returns for one price with the purchase others are per return  https://turbotax.intuit.com/small-business-taxes/cd-download/  full service/live https://turbotax.intuit.com/personal-taxes/online/live/full-service/business-taxes/  live assisted TurboTax® Business Online 2024-2025

if you are used online nothing needs to be done because the app and data including the tax return file is maintained on Turbotax servers not on your old computer. if you used desktop, then you need to copy xxxx.tax2024 file to your W11 computer. (With a windows computer it would normally be in the Turbotax folder under documents). you may also want to reinstall Turbotax 2024 which you can download from your Turbotax account - under billings and products. install the federal and the any states. then check for updates before trying to open the tax file.     at this time, it would also be advisable to save a copy of your 2024 return as a PDF on your new computer and even another copy on a secondary storage device since drives do go bad. even new ones. 

The 2025 software will not be available until mid to late November.   Until then, online is only for 2024 returns and does not include the new tax laws that go into effect for 2025.  Not sure what you mean by "file" estimated tax for 2025.  No one will actually file a 2025 tax return until early in 2026.

This tool is so valuable and easy to use - why are you discontinuing it?!!!  I've been using it for decades to track all of my donations.  And now, you're cancelling it before the end of the year?!  That makes no sense!  Discontinue it AFTER April 15th, with enough notice beforehand so that we can track our donations using a different system!

there are specific things that must occur or be done to revoke s election An election terminates automatically in any of the following cases. 1. The corporation is no longer a small business corporation as defined in section 1361(b). This kind of termination of an election is effective as of the day the corporation no longer meets the definition of a small business corporation. Attach to Form 1120-S for the final year of the S corporation a statement notifying the IRS of the termination and the date it occurred. 2. For each of 3 consecutive tax years, the corporation (a) has accumulated earnings and profits (AE&P), and (b) derives more than 25% of its gross receipts from passive investment income as defined in section 1362(d)(3)(C). The election terminates on the first day of the 1st tax year beginning after the 3rd consecutive tax year. The corporation must pay a tax for each year it has excess net passive income. See the line 23a instructions for details on how to figure the tax. 3. The election is revoked. An election can be revoked only with the consent of shareholders who, at the time the revocation is made, hold more than 50% of the number of issued and outstanding shares of stock (including nonvoting stock). The revocation can specify an effective revocation date that is on or after the day the revocation is filed. If no date is specified, the revocation is effective at the start of the tax year if the revocation is made on or before the 15th day of the 3rd month of that tax year. If no date is specified and the revocation is made after the 15th day of the 3rd month of the tax year, the revocation is effective at the start of the next tax year. To revoke the election, the corporation must file a statement with the appropriate service center listed under Where To File in the Instructions for Form 2553. In the statement, the corporation must notify the IRS that it is revoking its election to be an S corporation. The statement must be signed by each shareholder who consents to the revocation and contain the information required by Regulations section 1.1362-6(a)(3). A revocation can be rescinded before it takes effect. See Regulations section 1.1362-6(a)(4) for details.     if it is an s-corp at year-end items are GENERALLY allocated on a per share per day basis. However, if a shareholder terminated their entire interest in the corporation during the year or a qualifying disposition took place, the corporation may elect to allocate income and expenses, etc., as if the tax year consisted of 2 tax years, the first of which ends on the day of the termination or qualifying disposition.

I understand all of what you said; sorry I hit send before I really asked my question in detail. I have been doing my taxes with TT for more than 20 years and while not a CPA, do understand the lay of the land for my sources of funds and expenditures, and as well I had 30 years in the IT industry so am not uncomfortable with computing.  But in 2024 I find I have had to dig further than ever before into forms and line items and what TT sw does to my input, ie, where it goes on the forms.     An IRS agent said the reason my return, efiled in April on time, hasn't been closed and my refund sent it that they don't have the W2s for me and my husband.  But the 2 W-2s were captured in income under other income on Schedule 1, Part 1, line 8t.  (The rest of our income is in 1099s.)  So the top line income looks right but it isn't on the primary W2 line on teh 1040, like it used to be!   This is the only thing I can see which looks different from prior returns.  I definitely did say it was a non qualified plan on the inputting.  Any ideas?  Thanks! NanaNancy