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@waves25 wrote: These companies issued 1099-NECs, but did not include the tips since these forms weren't updated by the IRS in time for the 2025 tax year.    Are you tips included in the amount in Box 1 of the 1099-NEC?   The tips don't need to be separately stated on the 1099 for the 2025 tax year, but they still need to be included in the amount in Box 1 of the 1099-NEC.    

@user17689532250 wrote: Is there one version that does both? No. You need two different TurboTax products.   TurboTax Business can prepare the 1065s for your LLCs and you only need one copy to do multiple 1065s.   You then need a personal income prep TurboTax product to prepare your 1040 (such as Premier or Home & Business).

Do you mean, may I 'write off' the estimated cost of the automobile transmission which failed in June of 2025?     No, you would not.  If you have been claiming the standard mileage rate for the vehicle, the standard mileage rate contains a maintenance or repair expense component. The IRS contends that you are expensing the maintenance and repair costs of the vehicle as you claim the standard mileage rate.   However, do you mean that you paid for a replacement transmission or the repair of the transmission in June of 2025?  If so, in some cases, the IRS allows taxpayers to claim either the standard mileage rate or the actual vehicle costs when claiming vehicle expenses against self-employment income.   This IRS publication states:   Choosing the standard mileage rate.   If you want to use the standard mileage rate for a car or truck you own, you must choose to use it in the first year the car is available for use in your business. In later years, you can choose to use either the standard mileage rate or actual expenses.   So, If you have been claiming the standard mileage rate for this vehicle since it was first used in your business, then during any subsequent year, you may use either the standard mileage rate or actual vehicle costs, including the cost of the repair of the automobile transmission.    

@brianagonzale2005s    Don't post personal information in this  PUBLIC forum!!!!!!!!   EDIT your post and take that DOWN   You have opened yourself up to a slew of SCAM emails claiming to be from TurboTax, but instead are from criminals.

@RosaleeMcS wrote: but disbursements paid to members are taxed on our personal taxes as income.    I figured somewhere in the program there was a place for return of personal capital investment but I can't find it.   No disbursement paid to members are NOT taxed.  Unless they are in excess of your Basis.  Whether or not you enter your capital contributions on the 1065 will not affect that (although if you have a Balance Sheet on Schedule L, I'm not sure how you've been able to avoid not entering your original investment/contribution).   Have the Partners been keeping track of their Basis?

Yes, you should indicate that you rented the property for the eight days before the sale. This is necessary to preserve the historical information from your prior tax returns. You're not required to report rental income (if the tenant didn't pay for those days) in order to proceed and report the sale.   TurboTax Desktop Premier has expanded interviews and specific On Demand Guidance in the program that you may find helpful in your situation. Otherwise, the desktop software versions all contain the same forms.

I'm trying to get to the community, but when i login with my intuit account  I get shoved off to questionaires about using TT online.  I do not want to get sucked into that, how do I just get to community to complain that the usual easy-to-use desktop version has this year stymied me  at the very beginning by not prompting for the same  1099s as always I  have every year even though it has the list of them but wants me to type in a name or find it in a list.   

Assuming you are not legally obligated to support your son, yes, it is taxable income.   A lot of people like the cost-sharing idea, but I've never seen any legal support for it.  But even *IF* the cost-sharing idea were true for a person that lives with you, it would NOT apply if they do not live with you.   I know you said that he pays less than Fair Market Value.  How much less?  For example, it is reasonable to have lower rent for someone that you know is a 'good' renter (like your son).  There have been court rulings that have allowed 80% of FMV as counting as close enough to FMV.   This next question may not be an easy question to answer, but is this a not-for-profit rental or is it a for-profit rental?  Even if expenses are greater than the rent, you also need to factor in that the house tends to increase in value.  After factoring in the increase in value of the home, but then counter-acted by long-term maintenance (roof, furnace driveway repaving, etc.) does the long-term outlook seem like this activity would reasonable result in a profit motive?   The answers to the FMV question and the for-profit question will determine how to report that income.