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If you are an NJ resident and pay an NJ Inheritance tax on an Inherited IRA, the NJ tax on taxable distributions from the IRA is set at zero until you have recouped the inheritance tax.   @Kdbaker412 

See the attached link which should address your question: https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/form-3115-automatic-depreciation-change-can-i-re-enter-in-turbotax-desktop-and-e-file/00/3795193  

I use the desktop version too but couldn't get TT to download all the 1099-B's.  And the desktop version can not download a pdf file (and entering the "summary" of the 1099-B manually makes you physically mail a copy of the 1099-B to the IRS).  So I started an online file, imported my 2024's but it too could not find all the 1099-B's.   So I saved a pdf file from my bank and then allowed the online version to upload it.  I had to clean it up some as for some reason, while it moved over every transaction, it left the stock/bond name off some of the transactions.  I went through and added the names, closed and saved it.  Then went back to my desktop and started a new file by clicking the box that said something about continuing from the online file.  Now I didn't have a whole lot in the first desktop file I had started because all I did was import my 2024 and went straight to the importing data from my financial institution so I didn't have to redo a whole lot of work.  However, if I had followed their step by step I would have to reenter all my business info and retirement income all over again.  So lesson noted.    TT desktop needs to allow downloading pdf files like the online version and I would not have had to jump through all those hoops!  And it is not right with the price TT charges more for the online version ($140 online) versus ($95 at Sam's Club for the H&B version) that they limit it to only one person instead of 5 returns so you can do your own return and that of your kids who need one too!!!

Depending on how TurboTax rounds, your 2023 Form 8606 should have shown something like:   Line 1 = $6,500 Line 14 = $6 Line 16 = $6,500 Line 17 = $6,494 Line 18 = $6   and your 2024 Form 8606 should have shown something like:   Line 1 = $7,000 Line 2 = $6 Line 14 = $6 Line 16 = $7,000 Line 17 = $7,000 Line 18 = $0   The $6 on line 14 of your 2024 Form 8606 carries forward to line 2 of the next From 8606 you are required to file.  If you made a nondeductible traditional IRA contribution for 2025 or you did a Roth conversion in 2025, that would be your 2025 Form 8606.

The program did not register that you took the full RMD. After you enter the 1099-R, there are a lot of questions to answer, including the RMD question. Follow these steps:  Edit your 1099-R,  continue through the screens until you see: "Was this withdrawal a Required Minimum Distribution?" Select Yes. The next screen asks: "Did you take the full RMD for 2025?" Select Yes.

If your HSA contributions were through payroll and reported on your W-2 with a code W in box 12, the amounts were not included as income on your returns.    If you made contributions outside of payroll, those are also entered in the federal section - Any HSA amounts entered on the federal return have been removed from income on the federal and PA returns, so no additional deduction is entered.       Pennsylvania allows four deductions against income.   Deductions are allowed for: Medical Savings Account contributions; Health Savings Account contributions (allowed on federal); IRC Section 529 qualified Tuition Program contributions, and IRC Section 529A Pennsylvania ABLE Savings Account Program contributions.    

Thanks Dave. That is very helpful. Do I need to split the SEP contribution between my two schedule Cs (I have two separate businesses and the SEP contribution is calculated per the total earnings of both businesses)    This resulted in two issues.   1. how to assign the contribution to the business — which you have resolved. 2. Only one  business shows up to assign the contribution. How do you apply the contribution across two businesses, how is the split calculated, or does it not matter and you need only apply the total mixed contribution to one business under a schedule C?   many thanks!