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Did the replies above answer your question? If so, select “Mark as Best Answer” to help others find this thread. Respond below with any follow-up questions so we can point you in the right direction. If you’d like to change subjects, Select a Topic and find the button to Post your Question. Thanks for joining the Community, @NovoAlternatives  **Say “Thanks” by clicking the thumb icon in a post **Mark the post that answers your question by clicking on “Mark as Best Answer”  

Did the replies above answer your question? If so, select “Mark as Best Answer” to help others find this thread. Respond below with any follow-up questions so we can point you in the right direction. If you’d like to change subjects, Select a Topic and find the button to Post your Question. Thanks for joining the Community, @jessicanwebb1997  **Say “Thanks” by clicking the thumb icon in a post **Mark the post that answers your question by clicking on “Mark as Best Answer”  

And....just so you know....it is too late to get a refund for a 2021 tax return.  Even if your tax form shows a refund, the IRS will not pay it.   You forfeited that refund when you missed the deadline to file on April 15, 2025.

Tips are income that has to be reported on a tax return.  On the federal tax return, there are will not be any federal taxes on the tip income if you are eligible for this deduction. This is reported on IRS Schedule 1A which is estimated to be available in TurboTax on 01/14/2026.   There is no complete elimination of tax on tips. However, a new federal law, the "One Big Beautiful Bill Act," provides a temporary federal income tax deduction for up to $25,000 of qualified tip income per individual, effective for tax years 2025 through 2028.    Key Details of the "No Tax on Tips" Provision  It is a deduction, not a full exemption: Tips are still considered taxable income, but eligible individuals can deduct a significant portion, reducing their overall federal income tax liability. Payroll taxes still apply: All tips remain subject to Social Security and Medicare (FICA) taxes, which must still be reported to employers. Maximum Deduction: The maximum annual deduction is $25,000 per individual. Income Limits: The deduction begins to phase out for taxpayers with a modified adjusted gross income (MAGI) over $150,000 (single filers) or $300,000 (married couples filing jointly). Qualifying Tips: Only "qualified tips" are eligible. These must be voluntary (not mandatory service charges), not negotiated, and received in occupations that "customarily and regularly received tips" before 2025. Eligible Occupations: The IRS has issued guidance with a list of nearly 70 eligible occupations, including bartenders, restaurant servers, casino dealers, hotel housekeepers, and various personal service workers. Claiming the Deduction: For the 2025 tax year, the deduction can be claimed when filing your federal income tax return in early 2026 using the new Schedule 1-A (Form 1040). State Taxes: This is a federal tax deduction. State and local tax treatment of tips may vary, so you should check with your state's tax agency for specific guidance. 

The software is not yet updated for the tax law changes regarding tips.   Please be patient and watch for updates, which typically happen on Thursdays.   If you are in a rush to file your tax return, keep in mind that the IRS will not begin to accept returns until the end of January.

@slamny Since nothing has changed on the NY return, there is no need to file an amended NY return.  Amending a return is required only when there are changes to the original return and it affects either the taxes owed or the tax refund that was received.  Since neither has occurred on the NY return there is no need to amend the state return.

Sorry, Turbo Tax only sells the last 3 years so you can't get 2021 program anymore. You might need to go to a local tax place or if you have a simple return and want to file for free you can fill out the forms by hand. Here are some basic forms….. Here is the IRS 2021 Form 1040 https://www.irs.gov/pub/irs-prior/f1040--2021.pdf or if you want bigger type use 1040SR for Seniors, https://www.irs.gov/pub/irs-prior/f1040s--2021.pdf And 2021 Instructions https://www.irs.gov/pub/irs-prior/i1040gi--2021.pdf 2021 Tax and EIC Tables https://www.irs.gov/pub/irs-prior/i1040tt--2021.pdf Sch 1 : https://www.irs.gov/pub/irs-prior/f1040s1--2021.pdf Sch 2 : https://www.irs.gov/pub/irs-prior/f1040s2--2021.pdf Sch 3 : https://www.irs.gov/pub/irs-prior/f1040s3--2021.pdf You have to print and mail prior year returns. When you mail a tax return, you need to attach any documents showing tax withheld, such as your W-2’s or any 1099’s. Use a mailing service that will track it, such as UPS or certified mail so you will know the IRS received the return. Don’t forget state.  

There is additional $100 in interest. And I have to pay $22 in Federal. I have to mail in the Federal with check. But for NY State even with increase of $100 in interest, it doesn't change the original refund amount. Should I mail in a copy of NY IT201-X and a copy of IT201 as the print out. Also, do I have to attach a copy of 1040-X, since the print doesn't include that ?

I appreciate and understand your answer.  And, no the W2s and 1099s do not open in the Business program.  It is important to me that all returns associated with the S-Corp can be saved and transitioned to the next accountant without having to share my personal returns.