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You need to go back and read @DaveF1006 replies to make sure that the liquidating distribution is properly flowing through your K-1. Distributions of property to a shareholder is deemed as a sale of that property to that shareholder; and should be reported as such in TT Business.   Since you are distributing property in which you claimed depreciation, you need to determine the gain; FMV less basis.  If you claimed Section 179, then your basis on that property is zero.  Just treat this as any other "sale" and allow TT to handle it. The gain on property being distributed to you is reported on your K-1 "as if" the S corporation sold it.  TT should handle this appropriately as you have potential for recognizing ordinary income on appreciated property distributed that was previously depreciated; depreciation recapture.  All of this gets handled in TT Business so if will properly flow through to your 1040. Then you need to update your tax basis schedule for the current year K-1 items. Yes you need to complete and file form 1099-DIV.  This form then provides you with the necessary information to compute your overall gain or loss on the "disposition" of your S corporation investment.  

Where does TurboTax tell you to "correct it to 0"? Is it on the federal return? the state return? when you enter the 1099-R? In the Review? I am having trouble visualizing what you are describing.   Also, may I confirm that this is not a military retirement 1099-R, and that you are 60+?

Only the IRS and your State control when and if a Federal or State tax refund is Approved and Issued.   Once a tax return has been Accepted by the IRS or a State, TurboTax receives no further information concerning the tax return or the status of any tax refund.   If accepted by the IRS use the federal tax refund website to check the refund status - https://www.irs.gov/refunds If accepted by the state use this TurboTax support FAQ to check the state tax refund status - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_...   After the tax return has been Accepted by the IRS (meaning only that they received the return) it will be in the Processing mode until the tax refund has been Approved and then an Issue Date will be available on the IRS website.

Why wont Turbotax allow an efile if there is a 1 in the 3520 box?  While Turbotax does not support Form 3520 it is a separate paper filing.  What is Turbotax's rationale for creating software code that says "you can't efile if you need a form that we don't support even though the paper form we don't support is not part of your overall 1040 submission".  I worry about a workaround to leave it as an empty box even though we are required to file a 3520.  Lots of people on the forum have this same problem - we would prefer to have the correct information on the 8938 and we would like to efile.  Why won't Turbotax allow that if the 3520 is mailed separately?

Why do you think  you are only getting it for 1 person?   I can think of a couple things.....   Go back to My Info and check both birthdates.  You both had to be 65 or older on Dec 31, 2025.   Check that your ssn under My Info was marked NOT VALID for employment.  Uncheck that.   How much is on your 1040 or 1040 SR line 13b?  Maybe you have a high income and the total for both is being phased out.  For Joint the deductions starts to phase out at 150,000 and maxes out at 250,000

Same exact problem for me.  For 2023 Tax Year, they refunded me after I paid for the filing. For the 2024 Tax Year, they denied my refund!  Now I have to continue to call to get help for the 2024 refund, and now also have to request the refund for the 2025 Tax Year.  Intuit currently owes me $279 + $279 filing fees and I am extremely unhappy about it...spending hours trying to deal with this and their products are supposed to help our businesses.

it might be that you are  getting it for noth but the amount is reduced when Modified Adjusted Gross Income on line 3 of Schedule 1-A is over $150,00   then if filing jointly and both are over 65, you lose 12% of the maximum of $12,000 for each dollar MAGI is over $150,000

Yes, my situation is the latter... living in 2 states with separate employers in each state. So it seems easy to tax each state return separately. Turbotax did Illinois return correctly, but NY return is including the IL income (so the total income to be taxed is higher) and only subtracting the NY taxes paid. So it says I owe NY taxes when really I dont if it would have included the NY income earned in NY only (same as the IL return). I put part-resident for both, so it should have done both states the same. 

@Taxnoob2026 ,  (a) I do not believe there is any quick way to achieve what you are trying to achieve. (b)  Was the son born in the USA or born abroad but registered by you ate US consulate ( through your citizenship )? (c) For you to claim your son as a dependent,  -- see this page from the IRS -->  Dependents | Internal Revenue Service Note there are special dispensations  for child residing in MX or CA (d) for you to file MFJ, your spouse needs a tax ID  ( SSN/ITIN ).  You can indeed file MFJ, include the  ITIN request W-7 and all the  required documentation  etc. and file by mail.  This will allow IRS to issue ITIN  retroactively ONLY for the purpose of filing a return. (e)  To get her K visa or whatever , I would suggest you contact/use the services of an immigration attorney.   Does this help ?  Is there more one of us can do for you ?  

What message do you receive when signing in to Morgan Stanley at Work for importing?   If you can give more detail, we'll try to help.   General tips: Make sure your broker account allows 'third party access' Allow LAN in browser settings   @DevinF064     

I cannot edit the Mac desktop home/business Schedule 1 form.   Specifically, I need to add an entry to the Part II section 24 (z) to make an entry that actually gets calculated.   I discovered how to select the empty field, go to Edit and select Override, and make my text entry.   When I save the file, I can then move to the dollar amount, repeat the override and enter in a dollar amount.   However, the form will not autocalculate to 24z.  So I manually select, override, enter in the dollar amount that I would have expected to be calculated from the line-item entry in (z).    And when I put in that dollar amount in 24z in the column, nothing is autocalculated in line 25. Naturally, Schedule 1, Part II, Line 25 will not allow an entry, nor the option to Edit:Override to make the entry.  So this form is basically useless.   Doesn't matter if I select the forms:1040/1040SR Wks or the individual Schedule 1 form.  No completion of task.   In EasyStep, where can I find the line items for Sch 1 part II, line 24?