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TurboTax's value for Effective Tax Rate is a relatively meaningless number.  It is not useful for your purpose.  What you need to do is to determine your marginal tax rate, which is the rate by which your tax increases for additional dollars of income, something that TurboTax does not calculate.  To avoid penalties, you either need to pay sufficient quarterly estimated tax payment or have sufficient taxes withheld to meet the safe-harbor of 100% (or 110% for those with higher AGI) of the previous year's tax liability, or you need to do an accurate simulation of your expected tax liability based on expected income numbers.  The desktop version of TurboTax does have a What-If Worksheet in forms mode that can assist with this.   As RogerD1 said, the tax system is pay as you go, quarterly.  You can still have a penalty for earlier quarters if you underpay for earlier quarters even though you overpay in later quarters.  However, this can't happen if all of your taxes are paid through withholding, not with estimated tax payments, because, by default, both income and tax withholding are treated as received and paid evenly throughout the year.  Estimated tax payments are only credited on the date that they are actually paid.

As DoninGa mentioned, TurboTax Online does not have the option to use forms mode.  If you are using TurboTax Desktop, you can switch to forms mode by selecting the Forms icon in the top.   @mostrenga53130 

My Fidelity Investment Account's 1099 shows sum of Foreign Taxes Paid on the first page.  It lists foreign transaction details by country in another section, "Foreign Income and Taxes Summary."  Depending on your investment profile, yours might be one or several pages.  You'll probably find the overall sum of individual transactions for "Equities + Bonds" and for "RICs" at the section's end.   Like another poster said, it's almost the last page of Form 1099.  Hope this helps.

Thanks, this will work.   I am waiting to see if the University can explain the $7500 gap.  One guess is that they included the healthcare expenses, which I believe should be taken pre-tax and not included in income.     Rich

So on Schedule B line 9 shows the income required to be distributed currently.  Its actually principal. Line 10 is blank and line 11 is the total.  Same as line 9.  When it kicks out my K1 the distribution should not be taxable since it was taxed in earlier year prior to us inheriting this trust and its not.  Everything look right but I have never done a trust tax form.  The program says during the check " You incicated on Form 1041, page 1, line A that you are a complex trust and since Schedule B line 11 total distributions is more than Schedule B line 8 (accounting income) you need to prepare schedule J, UNLESS the trust has no previously accumulated income.  When my parents died.  We got an EIN number for the trust and enherited it as co trustees.  So with our EIN number we have no income other than the 15 K from interest, dividens, and rent monies from a rental home in the trust.  So it sounds like what I have done is correct.  I am just trying to verify this since the error check said that.  

You want to go to Investment Sales and Select Other for the sale of an inherited home.  Where do I enter the sale of a second home, an inherited home, or land on my 2025 taxes?   You’ll have to use TurboTax Premium to report the sale of an inherited home or land.   Open or continue your return. Navigate to the sold second home screen: TurboTax Online/Mobile: Go to sold second home. TurboTax Desktop: Search for sold second home and select the Jump to link.   Answer Yes on the Did you have investment income in 2025? screen, then Continue. If you land on the Your investments and savings screen, select Add Investments. Follow the onscreen instructions.

Thanks Robert. I have been chewing on this, and now I am thinking "Complete Disposition->Liquidated Partnership Interest" is not the correct Partnership Disposal method for my situation. My wife did not liquidate the partnership interest. The partnership ended with her holding on to the shares that she got in exchange for the amount she had invested. So if I select "Disposition was not via a sale", TurboTax (TT) does not prompt me for any sale price or partnership basis so she doesn't need to enter anything because she did not sell anything. TT does ask me for a Purchase date: 2020, and Sale date: Date when final distribution was made to her in 2025, and that's it. The only downside to this approach is that the way TT software is coded - because she selected "Disposition was not via a sale", the K-1Partner Additional Info form marks this as a "gifted partnership interest"! There is no way to work around this, unfortunately. Will this selection have any unintended consequences? She will enter the correct cost basis when she sells the shares in the future.  

Check your Schedule C - the income should all be reported.   The message does not prevent e-file and TurboTax is reporting your 1099-NEC totals on Schedule C.     Go ahead and scroll down to the bottom of the page and click on Continue.   The Needs Review message will NOT prevent e-file.   Before you file the return(s), TurboTax will take you through a Complete Check and will flag any errors that will prevent e-filing then.   You can continuing preparing your returns and ignore the needs review messages.   If there are any errors on the return, the Complete Check in the final review section will prompt you to make changes before submitting the return(s).    @Al130     

To clarify, did you start from desktop or TT online? I started from the desktop and that screwed me since you can't import anything there. The crypto importing only works with the online version. I had to start all over from the online version and do everything there. Others have reported that the desktop version eventually might be discontinued but not sure if that is true or not. TT really screwed this whole thing up and hopefully will get it fixed; should have been fixed months earlier. 

This bug was fixed several weeks ago.  If you are using the desktop version of TurboTax, makes sure that you have updated TurboTax.  If the problem persists, try deleting and reentering the code-H From 1099-R.   The original problem was that TurboTax was marking the Rollover box on line 4c instead of the Rollover box on line 5c.  TurboTax now correctly marks the Rollover box on line 5c.  Nothing regarding this rollover is to be present on line 4a/b/c, only on line 5a/b/c.

I am filling out my 1099-NECs. I am self-employed and have many every year. About half of them are showing "Needs Review" but no matter how I update them, it does not go away. There are no red boxes indicating a need for more info.    I do not want to skip entering the NECs. It is useful for me to do this. How do I get it to accept that what I have entered is correct?