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Yes, I received the token. The following are items I noticed in review. And all of the distributions are taxable on your tax return. The first 1099-R did not have a selection for taxpayer or spouse. On the screen 'What kind of retirement plan do you have...'. you must select 'Qualified plan....' which was not yet selected. The second 1099-R does specify spouse The third 1099-R also specifies spouse The fourth 1099-R did not have a selection for taxpayer or spouse Number 1 & 4 did not indicate any error even though the selection doesn't show on my end. Let's go over any required minimum distributions (RMDs) - both indicate no RMDs were missed. When I review the 1040, it does show the appropriate taxable amount for the IRAs and the Pensions. If you are using TurboTax Online you should do the following before you open your tax return to review again. Try clearing the cookies and cache.   It handles many issues that seem nonsensical on a regular basis with online activity. Watch to be sure you are selecting 'all time' as example.  Do not use selections like 'last hour' for those browsers that give  you options. How to clear your cache Once this is complete open your return and try again. If you are using TurboTax Desktop, save your return, then at the top select Online, then Check for updates. Open your return and review your Form 1040: From the left rail menu in TurboTax Online, select Tax Tools (You may have to scroll down on the left rail menu.) Select Tax Tools On the drop-down select Tools On the pop-up menu titled “Tools Center”, select View Tax Summary  On the left sidebar, select Preview my 1040  For TurboTax Desktop, change to 'Forms' and review the forms @owensrf            

Hi @RogerD1, I have a similar question I need help with figuring out how to file.  In 2025, just before filing for 2024 taxes, I opened a Vanguard Roth IRA and contributed the max amount $7000 for 2024, and $7000 for 2025 before filing, then a few days later when filing on TurboTax, realized that my income was too low and I was ineligible to do this. So Vanguard converted the Roth IRA to a standard brokerage account. I didn't receive any forms to submit regarding this, and was told by a family tax preparer to wait until filing for the 2025 tax year (I use TurboTax for myself though). In January 2026, I received a form 5498 for year 2024 stating a contribution of $7000 (which was not reported on my 2024 filing), and a form 1099-R for year 2025 with a gross distribution of $13815 (I'm assuming since the stocks in the Roth IRA fluctuated and devalued a tad in the few days they were in there).  So now I'm ready to file, and at the sections asking about IRA contributions for 2025, and asking about excess contribution withdrawals for 2025, what should I enter in these fields? Should I put $7000, $14000, something else? The account conversion from Roth IRA to standard brokerage took place in March 2025, before the 2024 taxes were filed.  Thank you

Related to above.... when I choose file an amended return, the Federal refund amount resets to 0 (which I believe is correct)  but the NY one does not.  I'm not sure that I have a "clean" copy of my original return at this point, i.e., I have forms IT 201-X pages 1-6 included.  I think TT already thinks the NY return was amended and I don't seem to be able to get it to  reset. Thoughts?  Thanks.

 The program does not support when someone other than the taxpayer (or spouse if married filing jointly) owns the Form 1095-A.    A workaround you can use is to enter the 1095-A, but do not select her name as the person who owns the 1095-A.  Just continue through.  Enter the policy number and such.  Then when you get to the review section, you will likely get an error on form 8962.  It should let you enter her name and SSN on the form.  Then you can continue through to e-file.  If it gives you a transmission error, you will need to print and mail the return.   

Thank you so much for taking the time to explain to me things in such good detail. This has been so helpful. I'm new here, and I don't mean anything by this, I just don't know what this forum really is. Are you and the others who respond tax people preparers?

I also receive this description of the error in the email from Turbo Tax:   ReturnState/ReturnDataState/SchAR3/Contributions/OtherContribution/TotalOtherContributions - Data in the return is missing or invalid. Please double check your entries

To enter a foreign exchange loss in TurboTax for Euro/USD (not cryptocurrency), you typically report it as a capital loss if it relates to investment sales or as an ordinary loss if related to business or personal transactions. If it's an investment-related loss: 1. Navigate to the Wages & Income section. 2. Select Stocks, Mutual Funds, Bonds, Other. 3. Enter the details of the sale, including the foreign currency amount converted into USD. If the loss isn't investment-related (e.g., business): 1. Go to the Business Expenses or appropriate section. 2. Enter the loss as a foreign exchange loss. TurboTax doesn't have a specific foreign exchange loss field, so enter amounts converted to USD accurately.

Since your business is running at a loss this year, the Section 179 deduction is likely not the best choice because it is limited by your business income. According to the tax code, the amount allowed as a Section 179 deduction cannot exceed your amount of taxable income from conducting your business.   The Special Depreciation Allowance (SDA), on the other hand, does not have the taxable income limitation, which means you can fully expense the computer and increase your business loss for the year, which could be carried forward as a Net Operating Loss.   Alternatively, because your computer was under $5,000, you may be able to bypass the depreciation and Section 179 rules by simply choosing to expense the computer using the de mimimus safe harbor method for tangible property. This election allows you to immediately deduct the cost of the computer as an ordinary business expense. However, most small businesses only qualify for up to $2,500 because they do not have an "applicable financial statement". If you have a large corporation with an applicable financial statement, then the amount would increase to $5,000.   Therefore, if your computer cost $2,500 or less, use the de minimis safe harbor method and expense it. Otherwise, opt for the SDA.

@user17681516237 wrote: One for myself (self employed, payments direct to me as a person) AND one for my LLC (payments made to the company name, and then I get paid from there) LLCs default to self-employed status with respect to single-member LLCs and partnership status with respect to multi-member LLCs, Either way you are NOT an employee of the LLC and do not take a salary from the LLC.