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Form 4562 is ready; however, work continues on that section of the program.  Those changes to TurboTax are expected to be available later this week with end of the week update. Check back after Friday February 20.  

Did you e-file?   Did you go through all three steps of the FILE section and click a big orange button that said “Transmit my returns now?”     When you e-file your return you will get two emails from TurboTax.  The first one will say your return has been transmitted; the second one will tell you the IRS has accepted  or rejected your federal e-file.  If you filed a state return, there will be a third email (usually a day or two later) that tells you if the state e-file was accepted or rejected.   Check your e-file status:   https://turbotax.intuit.com/tax-tools/efile-status-lookup/    What does it say in your account?  Does it show that the return was accepted?   Or does it say something else---like "rejected," "printed," or "ready to mail?”       If it was accepted, are you using the correct information on the IRS site?   You need your filing status, your SSN and the amount from line 35a of your Form 1040.

If the cost basis listed on your Form 1099-B is accurate, then you can use that without any adjustment.    If you are dealing with employee stock, you may have a discount on the purchase, vesting or sale of it. If so, that would be listed on your W-2 form, most likely with a note and amount in box 14. If so, you may need to adjust the cost basis on your Form 1099-B to add all or a portion of the discount, as often the 1099-B form lists only what you paid for the stock. The income from the discount needs to be added to what you paid for the stock to arrive at the correct cost basis for capital gain purposes. You will see an option to do that when you enter the sales proceeds and cost basis in TurboTax, as there will be a box you can check that says the cost basis entered is "incorrect or missing."

If you believe the issue was caused by an error in the TurboTax software, you must submit an Accuracy Guarantee claim within 30 days of receiving their first penalty assessment notice. Here's the link to submit the Accuracy Guarantee Claim.  

Revisit your My Info section and proceed through each interview screen again... double-checking that you have selected that you are: married, but filing separately; that your spouse's information has been entered correctly; and that she has not been accidently selected as your dependent.

@kowalski-kara  asked:  "I filed about three weeks ago, everytime I go to check my refund status it tells me it can’t find me and I’ve made too many tries; when will I get my refund?"   If you efiled, check the efile status at your Tax Home of your TurboTax online account.   Does it show as accepted, rejected, printed, started,, or what?    Or did you choose to file by printing and mailing?   Also, when using the IRS refund lookup tool, look at your actual return, and use the Federal refund amount shown on your Form 1040, Line 35a.

@Howard424 wrote: I don't want IRS to flag my son's tax return if I report she cannot be claimed as dependent on my form.  @Howard424    Don't worry about it. Go ahead and file your tax return. 1. The IRS does not do such complex matching. They will not think that your son cannot claim your spouse (at least not because of anything on your tax return). 2. You are not reporting that your spouse cannot be claimed. You are telling TurboTax she cannot be claimed just to get TurboTax to leave the box unchecked, but that "No" answer in TurboTax does not go on your tax return. As far as the IRS is concerned, that box should never be checked on an MFS return. It doesn't apply to MFS. So they are not going to investigate why it's not checked, or whether it should have been checked. Even after TurboTax fixes the bug in the interview, what the IRS sees will be exactly the same as what you produce by answering No. The error is coming up in Smart Check because there is a conflict between the MFS filing status and the "spouse as a dependent" box being checked on Form 1040 line 12a. According to the IRS a return can't have both MFS filing status and spouse can be claimed. To resolve the conflict, one or the other has to change. The error message says to eliminate the conflict by changing the filing status. In effect, Smart Check is assuming that the checkbox is correct and the filing status is wrong. But it could be the other way around. The conflict can also be eliminated by not checking the box. That's what you're doing.  

To contact Cross River Bank regarding a TurboTax refund issue, call their main branch at 1-877-552-7255, Monday to Thursday, 9:00 am to 6:00 pm, and Friday, 9:00 am to 3:00 pm EST.    @Troyflippen1313 

Part 2 of your question   Once you locate your 2024 return in the section Your tax returns & documents,  while in that section choose tax year 2024, and click on a link Amend (change) 2024 return It should then provide the instructions on how to amend the 2024 return.   See this FAQ and video: FAQ:  How do I amend my federal tax return for a prior year? https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/amend-change-correct-return-already-filed/L4VjJ9BA2_US_en_US   Tip:   You may wish to save a backup copy of the original 2024 return using a filename that identifies it as the original return.   NOTE:  Remember tax return PDFs and data files are very sensitive files containing your personal info and commonly even bank account numbers.  So when working with such files, store them safely and securely to protect from ID theft, hacking, etc.

Thank you.   I have one remaining issue to resolve, but this may not be the forum for that question. When  checking TurboTax's results I multiplied my taxable state income by our state tax rate (4.5%) but the Turbotax  result doesn't match my manual calculation. Gotta figure out why. 

You can’t add another W-2 (nor another type of tax document: 1099, 1098, etc.) if you have already filed your tax return.  You must wait for the IRS to process your initial return   The IRS may either Accept or Reject your filed federal tax return.   If the return is rejected you can open your return again, make the necessary changes and e-file again.   If the return is accepted you will have to amend your original tax return using Form 1040-X.  If you e-filed your original return, then you can go back online to make the necessary changes and then e-file the amended return.   Also, before you start to amend the tax return, you should wait for the original tax refund to be received (or the taxes due to be paid).   However, if you paper-filed (mailed) your original return, you will need to paper-file (mail) your amended return.   The IRS may take up to 20 weeks or longer to process an amended tax return.   For more information, please see TurboTax FAQ: How do I amend my federal tax return for this year?   The tentative date that the 1040-X form to amend your original tax return may be 2/25/26.

I use different software now for entities and only have the personal version of TurboTax for testing, etc.   However, I think the following from @Rick19744  might be the ticket here, if I recall correctly.   "Another option, would be that this gets adjusted in the partner's information section."