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Thanks for replying! To be clear, I did not receive a 1099 G form nor was I expecting one. My question was why does TT prompt me to enter in information as if I have received one. No, my state does not mail them out and I was not aware that I am supposed to receive one considering I do not itemize and only receive the standard deduction. Yes, I did receive a state refund last year.     

Overtime is 1½ times your pay.  You only get a deduction for the 1/2 part which is 1/3 of the total overtime.   The part that is tax-free is only the half-time for working 40 hours or more, not your base pay, and only up to $12,500 per year, and only if your income is less than $150,000. Meaning that, if you work 60 hours at $20 per hour base pay ($30/hr OT), the tax-free portion would be 20 hours x $10.

Not sure which numbers you are looking at BUT Only the excess over your regular hourly pay is eligible for the exemption from taxation.   Thus, if OT was  Time& a half, then only the 1/2 part  isn't taxed....which is 1/3 of the  gross1&1/2 paid.

@JohnQT wrote: OK then if Windows is not the leading MSFT cost center then why spend any time screwing it up?   Well, THEY think it's an improvement and I doubt those in charge of product development can retain their current positions if they're not continually making changes.

Dear@MarilynG1 ,   Below are quotes from the TurboTax Data Source for Form 1116 Lines 1a and 3d. Both lines include values from Form 2555. Note that the TurboTax FTC Computation Worksheet breaks down Form 1116 Line 1a into 13 subparts (a through m).   Here is the TurboTax Data Source for Form 1116 Line 1 (subpart e: "From Form 2555 Foreign earned income"): "If General category is indicated AND if the Income Excluded on Form 2555 Smart Worksheet has an entry in the column, then from the indicated Form 2555, line 27, LESS the indicated Form 2555, line 45, PLUS any amount entered on the indicated Form 2555 to the left of line 45, to the indicated column."   Thus, TurboTax Form 1116 Line 1 subpart e = Form 2555 Line 27- Form 2555 Line 45 + Form 2555 Line 45 write-in (if any).   Here is the TurboTax Data Source for Form 1116 Line 3d: "From the corresponding copy of the Foreign Tax Credit Computation Worksheet, line 1f of the corresponding column. Additionally, if this is a General category of income (Box d is marked above), and there is an entry in the related column in the Income Excluded on Form 2555 Smart Worksheet on the Foreign Tax Credit Computation Worksheet, then from the corresponding copy of the Foreign Tax Credit Computation Worksheet, line 1f of the corresponding column, PLUS Form 2555, line 45, of the indicated copy(ies) of Form 2555."   Thus, TurboTax Form 1116 Line 3d = Form 1116 Line 1 + Form 2555 Line 45.

Thank you.  Follow-up questions... A) Regarding my basis, would FMV be based on its value when I bought the item personally, or it's value at the time I transfer it into my inventory? B) When I transfer the item to my inventory, does the basis function the same as a cost as if I were buying a new item from one of my wholesalers? C) Let's say I paid $100 for the item a few years ago.  If I sell it for $40 through the business, would the business show a loss of $60, thus reducing my tax liability?   This is separate, but you mentioned "the fact that you can pay yourself- that is- withdraw money out of your owner equity in the business."  Does doing this incur personal tax, or is it built into everything since me and the LLC are the same entity for tax purposes?  For example, if I bought a bunch of inventory for $1000, then sold it for $5000 the same year, would I pay income tax on $4000 at tax time?  Then, if I were to transfer that $4000 to my personal accounta couple years either that year, or a couple years down the road, would there be anything else to report for tax purposes?

You may be able to import your W-2 if your payroll provider is a TurboTax Import Partner. You will need your year- to-date gross income from your last paycheck stub and your employer's EIN to import your W-2.  Refer to the TurboTax Help article How do I import or enter my W-2?   If that doesn't work and you don't receive your W-2 by January 31,2026, here are some other options:   Contact your payroll department to request a duplicate W-2.  Contact the IRS for help at 1-800-829-1040. The IRS can help you with trying to obtain your W-2, or File a Form 4852 as a substitute W-2 Form along with your tax return, but you will have to mail your tax return.   For more information, refer to the TurboTax Help article What To Do If You Haven't Received a W-2 and How do I file a substitute W-2 using Form 485

If the internship is required by the school for her degree, or was at least organized by the school and she is getting degree credit for it, then it is "education" and not "work" (even though it probably felt like "work").  In that case it is taxable as other income (similar to a scholarship) and is not from self-employment.  That means the income is taxable, but not subject to self-employment tax.  She also can't deduct expenses.  And she should not have a schedule C for this income.     There is a difference between internships that are simply lower paying entry-level jobs, and internships that are considered part of the student's education.  We can talk about that further if you are interested.  

I can enter SS into my Windows Home & Buisness program.  If you click on Visit All by Retirement Plans and SS you do get the message This section will be ready soon.    But you can click on the next line down by Social Security to enter SS. I never use the Visit All button.   And interest is working ok.  Have you updated your program?  Go up to Online-Check for Updates.