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Thanks so much for the quick reply! A couple follow ups, if possible.    1. Just want to confirm, then, that we should NOT include my wife's 1099 on the 2023 amendment, but rather file it in the 2024 standard filing. Is this going to create any issues for my 2024 contributions? I maxed out at $7000 each after confirming our income was lower this year and we were allowed to go up to the limit.   2. Even though the earnings are minor (~$200) they increase my income in 2023 and therefore lower my contribution limit to the Roth IRA, meaning that even after the excess contribution withdrawal, I am again over contributing... this seems quite circular and I don't know how to resolve it. 

@dmertz . thank you for the detailed response.  I have spent hours emailing/calling TIAA and finally they informed me that they processed it as rollover and not a conversion based on the forms used. (Of note, the form was provided by my TIAA advisory team).  Hence they said there is nothing they can do and will not issue me a new 1099-R. So suggestions at this point would be greatly appreciated.  Regards.  

The tax expert's reply to this question contradicts information found elsewhere -- according to some sources, a wage earner who is a resident of Kansas City, Missouri, apparently is liable to pay tax on wages regardless of whether they were earned in Kansas City, Missouri, or elsewhere. Can this be researched further and clarified on this board?

If the sale was not your primary home or a rental property -   To enter an investment sale - Click on Federal Taxes (Personal using Home and Business) Click on Wages and Income (Personal Income using Home and Business) Click on I'll choose what I work on (if shown) Under Investment Income On Stocks, Cryptocurrency, Mutual Funds, Bonds, Other, click the start or update button Using the online editions - On the screen Did you have investment income in 2024? click on Yes On the screen Let's import your tax info click on Enter a different way On the screen OK, let's start with one investment type, select Other and Continue On the screen Tell us more about this sale enter a Name and Continue On the following screen select the type of investment sale on the dropdown What type of investment did you sell? Continue with this section until it completes.

For others reading this:   You get the breakdown, by state,  from your mutual fund company. It usually by percentage, not dollar amounts. If they did not provide a breakdown, you check the box “I earned tax exempt dividends in more than one state” ("Multiple States" in the  online program) on the first screen after entering the 1099-INT or 1099-DIV. Then select  "More than one state" at the bottom of the state  scroll down list. If your mutual fund company provided you a breakdown*, you are only interested in your home state*. Multiply the % for your state by your total tax exempt dividends to get a $ amount (you can't enter the % in TurboTax [TT]). When asked which state, check the box "I earned tax exempt dividends in more than one state". In the drop down menu, select your state and enter the $ amount you calculated. In the 2nd box, select "More than one state*" (at the bottom of the scroll down list) and enter the remaining dollar amount. If you don't want to mess with it, it is perfectly acceptable to assign the entire $$ amount to the single designation of "more than one state” / “Multiple States" *Most mutual funds will provide a breakdown. But you usually have to ask for it, or find it on their web site. **Your state will tax all the dividends except the dividends from municipal bonds  from your state and US Territories. In Illinois, only certain types of bonds are state tax-exempt. If you can't find the breakdown (or you don't want to make the effort to look; it's no big deal. The percentage for any particular state is usually small.  Here's Fidelity's (for an example) https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/taxes/2023-tei-by-year.pdf California, and Minnesota require that the bond fund hold at least 50% of their holdings be in their own state's bonds, before you can break out that state's $$ for possible lower state taxation.  Illinois, essentially,  doesn't allow it at all. See screen shots at https://ttlc.intuit.com/community/state-taxes/discussion/do-i-enter-the-state-in-which-i-live-in-regarding-the-earned-exempt-interest-dividends-in-for-the/00/2074410 For details on how to enter, see: https://ttlc.intuit.com/community/state-taxes/discussion/re-exempt-interest-dividends-are-entered-from-form-1099-div/01/1318344/highlight/false#M58913 Most particularly, see the screen shot at that link.

In general, unless you are selling a rental property or your personal residence, the sale of real estate property is reported on Schedule D as a capital sale.   Follow the steps in the TurboTax help article below for guidance:   Where do I enter the sale of a second home, an inherited home, or land on my 2024 taxes?   As you go through these steps, the main thing to remember is that you start by saying you have sold an 'other' type of property that generally will not be reported on a Form 1099-B.  Then, your method of acquiring the property could affect your basis.    

Yes, you should file a “final” Schedule C in the year you ceased operations (2025). This will permit you to “dispose” of any business assets you have been depreciating so TurboTax can calculate any gain or loss on the sale.  Supplies, such as paper, inventory and raw materials, do not have to be accounted for unless you deducted the costs before and sell them.    There is no place to mark the Schedule C as final; however, you will indicate it closed  in the business info section of the Schedule C interview  in TurboTax and dispose of all assets.  See example image below (of course it will say "Did you stop... in 2025?").   For more information, see this helpful TurboTax article Closing a Business    

Absolutely, you can purchase it from a retail store and use the same account. There are twelve returns available for TurboTax Online Premier Retail editions. Pay per return applies if you make an online purchase straight from the website.   Thank you for choosing TurboTax.

HI Dana- Thanks very much for this response but appears perhapsI was unclear. The excess contributions were NOT to Roth IRA but to Trad IRA. The mistake was my custodian. In Feb of 2024, they put in those IRA contributions at my request: 7500 for 2023 and 8000 for 2024. I asked them to remove 3 wks later as I realized I hadn't/ wasn't going to be earning. They took out both as excess contributions. BUT they neglected to remove the earnings (NIA) ! I didnt realize this till I got the 2 1099s both end of March. Each had amount of distribution with taxable part as zero.  I had switched custodians- we called and they apologized but nothing they could do.    The earnings were about 79 on 2023 and 40 in 2024. We just put those back in Trad IRA. I need to finish my 2024 return tomorrow and need to know what to do. I know I need that Form- do I list the original and the earnings as the separate excess contributions they were? Then what?  They gave me options for the excess 40 and want to now apply that to 2024 which I can do as I have nothing contributed. ( Easier for me than having another excess contribution to deal with next yr). will the software allow me to pay the tax on that? and is there a 6%penalty given I put everything back? I'm confused in that though it;s 2025 now it's still within the time available to contribute money to a 2024 IRA. yet it asks what yr you put it in ( 2024) and what year you took it out (2025). So it's not clear about penalty .   It's so helpful when you list exactly what to do as a recipe. I didnt expect to be right at deadline. Very stressful   As for 2023, I know I need to amend that return. Same form? Besides tax I know there will be penalty . now that earnings are returned do I pay penalty twice since it's now 2025?   It would be helpful too if you delineate the difference between the cases above w Roth IRA and this case, other than that they dont have to pay any tax and I do.    Thank you so,so  very much and hope I hear today as I wont have time to do return next week.   

I did not know that the ID PIN changes every year. This explains the problem. I will have to contact the individual involved to see if he received another CPO1A form with the correct ID PIN for 2024.   Thanks so much for clarifying this. I greatly appreciate your help.