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Obviously this is a huge problem for many Turbotax users and the help dept is clueless on resolving it.   The only satisfying thing is knowing Turbotax is losing a lot of money in filing fees as this forces the users to mail in their documents.    

Do not try to fix it until your original return has been fully processed and you have the "couple of thousand dollars" refund in your bank account. If you send an amendment now, it can freeze your original refund for months.   Once your refund arrives, you will need to file Form 1040-X (Amended Return) along with a corrected Form 8606.  After your refund is received, log back in and look for the link that says "Amend (change) a filed return." Go to Wages & Income > IRA, 401(k), Pension Plan Withdrawals (1099-R) and look for the screen that asks "What was the total value of all your traditional IRAs on Dec 31, 2025?"  Update your basis to the correct amount. This will automatically flow to your new Form 8606.  

Stop saying it’s user error.  After this happened people found the work around!!   The program should do a check at that step and question the user!!! That did not happen!!! I ran it through the final check 8 to 10 times and never a warning!!!  I have been using TurboTax for years and had Social Security benefits for the past 5 years.  NEVER has this happened!!! Quit making excuses and blaming it on users!!!!  Someone ought to file a class action suit!!

You can submit a claim under the TurboTax 100% Accuracy Guarantee.  Follow the link below to submit it.     How do I submit a claim under the TurboTax 100% Accurate Calculation Guarantee or 100% Accurate, Expert Approved Guarantee?

 If it was transferred to the sole proprietorship, for the LLC, you must indicate it was withdrawn for personal purposes.   You don't have to do that for federal income tax purposes. The LLC and the sole proprietorship are both reporting on Schedule C.

If the school does not have a Federal Employer Identification Number (EIN), you are not eligible for the American Opportunity Tax Credit (AOTC), even if the school is an "Eligible institution" on the Dept. of Education  Federal Student Aid website .  You are eligible for the less generous Lifetime Learning Credit (LLC). 

Hi Palms - forgot to add that the will specifically specifies the distribution of income and principle for my mother's support and any unused income would accumulate.  Then after her death, the trustees distributes all assets.  It is complicated so hope that helps.  Your help has been very useful.   Thank you!  

Just enter it once, in one place.  Actually you can just enter your total income as Other self employment income or as Cash or General income. You don't need to get a 1099NEC, 1099Misc or 1099K. Even if you did you can enter all your income as Cash.  Only the total goes to schedule C.  You should be entering the income from your own records.