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The "Tax on Excess Accumulation" is triggered when the software believes you failed to withdraw your Required Minimum Distribution (RMD). This calculation is based solely on how the questions are answered in TurboTax, not on your actual bank records. If you took your RMD, or donated it via a Qualified Charitable Distribution (QCD), but are still seeing a penalty, the software hasn't correctly linked your distribution to your RMD requirement.   Here is some guidance on how to split your RMD and Charity in TurboTax:    On your Form 1099-R, look for the Code used in Box 7. It might have a "Y" Code. If this code was used, it tells the IRS that the money was a distribution to charity. However, if you see Code 7, which means regular distribution, you will still be able to indicate how much of your distribution went toward charitable contributions. Here are the steps to follow:   Go to Income on the left panel within your TurboTax account Select Wages and income summary located at the bottom of the drop down menu Click Add/Edit to the right of IRA, 401(k), Pension Plan Withdrawals (1099-R) Click on +Add a 1099-R Change how I enter my form box On the next screen, select Edit to the right of your Form 1099-R with the QCD,  then Continue Enter the details from your Form 1099-R, checking for which Distribution Code was used in Box 7 (or review if imported) Ensure the IRA/SIMPLE/SEP box is checked, then Continue Continue answering the questions, pressing Continue to advance When you reach, Do any of these situations apply to you?, check the box that reads, I transferred all or part of this money directly to charity, Continue Next, write in the total amount of your RMD* (Don't include your donation amount yet) Next, check the, Some of this distribution applied to the December 31, 2025 RMD and enter your RMD again On the next screen, How much did your provider transfer directly to charity?, enter the amount of your total distribution that was your QCD, Continue Continue answering questions. When you reach, Let's go over any required...(RMD), click Continue (not the pencil)    Note: The above steps should clear the error, but it may be necessary to delete Form 5329 that was already triggered by doing the following:   Go to Tax Tools on the left hand panel inside of TurboTax Click on the down arrow and scroll down to Tools Click on Tools and select Delete a form from the menu items that appear in the Tool Center Click on the trash can icon to the right of Form 5329   *If you satisfied your total RMD by taking distributions from multiple accounts, do not enter your total RMD amount on every 1099-R. Only enter the specific portion of the RMD that applies to that individual form.

For the 2025 tax year, you generally cannot deduct charitable contributions if you take the standard deduction. While a new "universal" deduction for non-itemizers was recently signed into law, it does not take effect until January 1, 2026.

If you continued to work in your self-employed business with a profit motive and intent to earn income, then you can still claim your business expenses on Schedule C regardless of whether you had income for the year.     If you did not actively work to make money during 2025, then you may need to assess whether your business would now be considered a hobby, or whether you expect to continue to work and earn income in the future.  If you are simply paying fees to remain licensed so that you can work as a real estate agent some time in the distant future, then you would not claim those expenses as a business expense on Schedule C.   Take a look at the following TurboTax article for more details about things to consider when trying to determine whether you are still operating a self-employed business for 2025:     When the IRS Classifies Your Business as a Hobby  

@ReneV4  Thank you for your response. I have two 1099-Rs. One is for $12k and the other is for $9K.  I have no problem with how to enter the 1099-R for the $12k, but I still don't understand how to enter the 1099-R for the $9K since none of that was deposited into my account until 01/2026, which I understand is in the correction window...? If you would, please clarify. I appreciate your help very much! 🙂

To access your USPS (OPM) 1099-R form, log in to the OPM Retirement Services Online portal to view or print it directly. Alternatively, use the 1099-R Express Request tool (no password needed) to have a link emailed to you, or call 1-888-767-6738. Forms are generally available online in January   To enter, edit or delete a form 1099-R - Click on Federal Taxes (Personal using Home and Business) Click on Wages and Income (Personal Income using Home and Business) Click on I'll choose what I work on (if shown) Scroll down to Retirement Plans and Social Security On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button Online editions -   On the screen Did you get a 1099-R in 2025? Click on Yes On the screen Let's import your tax info Click on Change how I enter my form On the screen How would you like to upload your 1099-R? Click on Type it in myself On the screen Who gave you a 1099-R? select the type of 1099-R you received and Continue

Form 8615 will be in your child's return.   You will need to start a new, separate tax file for each child.  You can then find it under Less Common Income -Child's Income (Under Age 24).  You are correct that you should delete the UTMA 1099 from your return because the income in a UTMA account legally belongs to the child and is tied to their Social Security number. If it remains on your return, you will be taxed on it at your higher rate unnecessarily.   NOTE: Form 8814 is used if you elect to report the child's income on your return. This is generally only allowed if their income is solely from interest and dividends and stays below a specific threshold (e.g., $13,500 for 2025).  Form 8615 is required when the child files their own return. It calculates the "Kiddie Tax" by taking information from your parent return (like your taxable income) and applying it to the child's unearned income over $2,700.    

@rkasch    Your situation still is not clear....though you do seem to imply that no OH taxes were withheld   ...were MI taxes withheld from the Ohio Job W-2?   Or were OH taxes withheld? ...or perhaps no state taxes withheld at all?   If the proper forms were filled out with the OH employer, then only MI taxes would be withheld (or perhaps no state taxes at al)....and if only MI taxes were withheld for the OH job, you do NOT indicate that anyone worked in OH, and you would only file MI taxes on all your joint income.   Then you would just delete the entire OH tax return.   Hmmm...does the state line on the W-2 show up as MI income??? even if no MI withholding? ...or no state listed at all?

You would have to enter the child, under the age of 17, as a dependent on your tax return.  The dependent child must have a SSN or an ITIN issued by the IRS.  You must have at least $2,500 of earned income to be eligible the CTC.   To be a Qualifying Child - 1. The child must be your son, daughter, stepchild, foster child, brother, sister, half brother, half sister, stepbrother, stepsister, or a descendant of any of them. 2. The child must be (a) under age 19 at the end of the year, (b) under age 24 at the end of the year and a full-time student or (c) any age and permanently and totally disabled. 3. The child must have lived with you for more than half of the year. Temporary absences while away at college are considered living with you. 4. The child must not have provided more than half of his or her own support for the year. 5. If the child meets the rules to be a qualifying child of more than one person, you must be the person entitled to claim the child as a qualifying child. 6. The child must be a U.S. citizen or U.S., Canada or Mexico resident for some portion of the year. 7. The child must be younger than you unless disabled.

TT does not even mention 1098Q does not need to be reported if expense is <= to qualified expense.  It asks to enter 1098Q w/out providing ways to enter qualified expenses.  That needs to be addressed.  

No, you do not offset the $9,475 by the same amount. This is the price paid for the land they will keep and are using for the circle. The cost basis for this will be a portion of the price you originally paid for the land.  How to arrive at the price of the land sold: Use the tax assessment you had before the land was sold and ask the county or city for a new tax assessment after the sale. Take the original assessment land portion divided by total assessment (land and building) to determine the percentage of your cost that was for the land at the time of purchase of the property and multiply by the original purchase price. Take the new assessment land portion and divide it by the total new assessment (land and building) to determine the percentage of the new assessment that is for land only and multiply by the original purchase price. Take the result in 2. above and subtract the result in 3. above. This result is the cost of the land you sold to NC DOT. This will be used as the cost basis to offset your sales price. Keep in mind that if there were any sales expenses that will also factor in to reduce gain. To enter your sale in TurboTax, follow these steps.  Open or continue your return. Navigate to the investment sales section: TurboTax Online/Mobile: Go to investment sales. If using this application, make sure it is open TurboTax Desktop: Search for investment sales and then select the Jump to link. Or Personal Tab > Continue > I'll choose what I work on > Scroll to Investment Income > Select Stocks, Cryptocurrency, Mutual Funds, Bonds, Other Answer Yes to the question Did you sell any of these investments in 2025?  If you land on  the Investment sales summary or Your investments and savings screen, select Add More Sales or Add investments. Click this link for more information. Where do I enter Investment Sales? @dallasjh89 

To access your current or prior year online tax returns sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/ Scroll down to the bottom of the screen and on the section Your tax returns & documents.  Click on the Year and Click on Download/print return (PDF) or Download .tax file   If you used the desktop CD/Download editions installed on your computer, the only copy of your tax data file and any PDF's will be on the computer where the return was created.  TurboTax does not store online any returns completed using the desktop editions.   Go to this IRS website for free transcripts of a federal tax return - https://www.irs.gov/individuals/get-transcript   For a fee of $30 you can get a complete federal tax return from the IRS by completing Form 4506 - http://www.irs.gov/pub/irs-pdf/f4506.pdf