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We are unable to reproduce this experience. It would be helpful to have a TurboTax ".tax2025" file that is experiencing this issue.   You can send us a “diagnostic” file that has your “numbers” but not your personal information.  If you would like to do this, here are the instructions:    In TurboTax Online, go to the black panel on the left side of your program and select Tax Tools.  Then select Tools below Tax Tools.  A window will pop up which says Tools Center.   On this screen, select Share my file with Agent.  You will see a message explaining what the diagnostic copy is.  Click okay through this screen and then you will get a Token number.  Reply to this thread with your Token number and tag (@) the Expert who requested it. This will allow us to open a copy of your return without seeing any personal information.   If you are using TurboTax for Desktop, go to Online in the top menu, then choose "Send Tax File to Agent."   We will attempt to determine the cause of your experience and possibly provide you with a resolution. 

These are the  Safe Harbor  criteria to avoid tax penalties. They are applied in the calculation for the following year.   The underpayment may be avoided if: You paid 90% of the tax that you owe for the current year. If the current taxes paid are equal to 100%, (110% for higher incomes) of your taxes owed the prior year. The IRS also says you can probably avoid the penalty if the amount you owe is less than $1,000. To avoid this situation, it's recommended that you adjust your W-4 with your employer, or pay estimated taxes.    For more information, see Guide to IRS Tax Penalties: How to Avoid or Reduce Them.  

No, I wasn't holding any bitcoin. It was unfortunately an extortion scam, so I had bought the bitcoin on cashapp and immediately sent it to the other person. I will just treat it as a gift and not report it. 

It is automatic based on your age. It is not part of your Standard Deduction. The new Senior Deduction is separate and in addition to the Standard Deduction or your Itemized Deductions on 1040 line 12e. The 6,000/12,000 senior deduction will be calculated on 1040 Schedule 1-A page 2 Part V Enhanced Deduction for Seniors which goes to 1040 line 13b with any other sch 1-A amounts. Turbo Tax automatically includes it if you qualify. If you are married you have to file a Joint return. 
For Online version You can preview the 1040 or print the whole return https://ttlc.intuit.com/community/accessing/help/how-do-i-preview-my-turbotax-online-return-before-filing/00/26160 See the 1040……. ,

With a grantor trust, there are two ways to go. The trust owns the assets. However, the holder, such as a brokerage, is given your SSN (not the trust ein) and issues the tax reporting form using your SSN; no 1041 is required. If they are issued using the trust EIN, a 1041 is required, and it produces a grantor trust letter. There are two thoughts on reporting a grantor trust letter in an individual's 1040. 1) Complete the k-1 for the trust. 2) ignore the k-1, and enter on the same forms that the items would be entered on if no trust existed Of course, the best solution would be for TurboTax to creatoe K-1 for grantor trust reporting. .       

This is now fixed but you will need to follow these steps to generate the form and/or fix your rejection:   Sign in to your TurboTax Online account and select Fix my return. Select Federal from the left menu, then Deductions & Credits. Scroll down to Charitable Donations and select Revisit next to Donations to Charity in 2025. You must review each non-cash donation entry. For any donation or group of similar items over $500, ensure you have provided: The organization's name and address. A description of the property. The date you acquired it and how (e.g., purchase, gift). Your cost or basis and the Fair Market Value (FMV). Once you provide these details, TurboTax will automatically generate Form 8283.   If the form still does not appear in your Tax Summary: Go to Tax Tools > Tools > Delete a form. Check if there is a "ghost" Form 8283 or Charitable Contribution Worksheet that is blank. Delete it. Go back to the Donations section and re-enter the details for the specific high-value items. This forces the software to re-trigger the form creation. Once corrected, proceed to the File section to resubmit your federal return.

The penalty you mention may be applicable to the other three quarters of estimated taxes. Also, the payment you make with your tax return is just an estimate, the IRS will calculate any actual penalty for late payment of tax regardless of the estimate you pay in.

Here's how you can fix it:  Sign in to your account and select the Fix my return button. Follow any “fix it” instructions to update the information causing the rejection.    Note: Not all rejections will have explicit guides to fix the information. You’ll need to navigate to the program area to address the cause of the rejection.    Time-saving Tip: If what you originally entered is correct, you won't be able to e-file. There's probably a data mismatch at the government, a dependent that's already been claimed, or some other situation beyond your control that prevents your return from being e-filed. In this case, your only option would be to print and mail in your return. This article will give you instruction on how to print and mail your return.    Additional reject instruction here. 

$49,000 is the correct loss calculation, assuming that you yourself originally purchased the mutual fund shares for a total combined $54,000 purchase price, and you sold them last year at a large loss for only $5,000 in sale proceeds.    Gain/Loss = Proceeds - Basis  ($49,000) = $5,000 - $49,000    As long as you "lost" the $49,000 in total share value over the life of the investment, then what the software is calculating for you is correct.   Did you have a more specific question about your cost basis and capital gain transaction for these shares? Did you purchase these yourself, or did your receive them from someone else?    Keep in mind that if you were not the original buyer of these shares, you may have a different cost basis than the original purchaser. This would result in a different gain or loss on your Form 8949 for the year. See this note from the IRS instructions for Form 8949:    The basis of property acquired by gift is generally the basis of the property in the hands of the donor. The basis of inherited property is generally the fair market value at the date of death.    Learn more about Form 8949 at this TurboTax video link.

@dboy7 I have done the exact same as you on the exact same dates as you with the same situation receiving a payout, but a bit larger. I am curious if the rejected returns are because of us reporting the class action income may be causing the issue and that TurboTax hadn't gotten their forms together correctly.

No.   Payments for past taxes due are not reported on your tax return.    Estimated taxes are amounts you paid during the year for taxes which become due when you file the current year's tax return.

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)   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

If you are unable to access your TurboTax account, there is a way to recover your account. See the following TurboTax article for tips on how to address various login issues, including not being able to access the verification code:   I Need Help Signing Into My Intuit Account

In the Michigan state tax return section of TurboTax:  Look for the page titled Take a look at Michigan credits and taxes Under Other credits, Start or Revisit Other State Tax Credit On the Qualify for Other State Tax Credit?  select Yes On the Other State page,  choose the option for City/county/locality outside Michigan from the dropdown Enter Marshall County as the Local Government Complete the Income Tax By Both Jurisdictions (US$) and Tax Paid to (US $). MCL § 206.255(1)