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The business code for Schedule C is enter in the Business profile section.  If you do not know your business code, you can enter a description and the program will make a suggestion for your business code. Go to the business profile and select EDIT for Business Code.   If no code is entered, the program will default to 999000   Do you have an additional question?    @ADPer   

CAN I USE TURBOTAX TO AMEND IF THE RETURN WAS PREPARED SOMEWHERE ELSE?   If you did not use TurboTax to prepare your tax return, it is possible to amend the return using TurboTax but it will really be a pain.  It would be better to use the software or service used to file originally.  If a paid preparer made a mistake on your tax return, that tax preparer should do the amended return for you at no charge. In order to use TurboTax to amend your return, you need to purchase the desktop software for the tax year and re-create the return EXACTLY as it appeared when it was filed with the IRS/states.  Every line has to be the same.  Then you have to "trick" the software into thinking you filed by saying you will mail the return. (but do not mail it)   AFTER that, you use the software to prepare a Form 1040X, which has to be printed, signed and mailed to the IRS.  It takes the IRS about 4-6  months to process an amended return   https://turbotax.intuit.com/personal-taxes/past-years-products/ You may also want to explore purchasing the software from various retailers such as Amazon, Costco, Best Buy, Walmart, Sam’s, etc.

Here is a calculation off of Forbes website:         Here is from the Smart Asset calculation tool.  The same exact figure:           There is something definitely wrong with TurboTax's calculation!!

Patricia,   Do you  know how I can download the tool for 2023??   I had the loop problem with 2024 and the TT rep helped me download the clean states tool for 2024.  It fixed my problem.  But I also have the exact same issue with 2023 TT Premier (desktop).  I know from searches that the tool existed but I can't find it.   Thanks

The long term capital loss carryover should import to your 2024 tax return automatically if you filed with TurboTax last year. You can check it using the steps in the link below. Also Line 16 less Line 21 of Schedule D on your 2023 tax return is the amount of your carryover. There will also be a worksheet in your 2023 return with the carryover amount. How do I enter my capital loss carryover?

Provide the following info for more specific help: Box 1 of the 1098-T box 5 of the 1098-T Any other scholarships not shown in box 5 Does box 5 include any of the 529/ESA plan payments (it should not) Is any of the Scholarship restricted; i.e. it must be used for tuition Box 1 of the parent's 1099-Q Box 2 of the parent's 1099-Q Box 1 of the grandparent's 1099-Q Box 2 of the grandparent's 1099-Q Who’s name and SS# are on the 1099-Q, parent or student (who’s the “recipient”)? Room & board paid. If student lives off campus, what is school's R&B on campus charge. If he lives at home, the school’s R&B “allowance for cost of attendance” for student living with parents. Other qualified expenses not included in box 1 of the 1098-T, e.g. books & computers How much taxable income does the student have, from what sources Are the parents eligible for the AOC (income not over $90K, $180K MFJ) Why isn't the student being claimed as a dependent (age, income, support) Is the student an undergrad or grad student? Is the student a degree candidate attending school half time or more?

If you haven't filed your return, follow the steps below    From your Tax TurboTax Online Home screen Locate Review and File. Click on Finish and File You will see the last 3 steps of your return. Click and revisit Step 2 Your refund info. You will then choose the option to receive a paper check If you already filed your return and originally put it in for direct deposit, and want to switch to a paper check, you will need to contact the IRS directly. They will put a hold on the direct deposit and revert to a paper check.    Contact the IRS

Thanks. We sold this rental property in 2024. While I collected all the rent, reported all expenses on my returns for entire the time we co owned the property, do my sisters need to include depreciation recapture on their 2024 returns or only me need to include entire depreciation recapture on my 2024 return?

If you put in an amount that you plan to contribute to a Roth IRA in the IRA contributions section of TurboTax, then the program will do the calculations and let you know if you qualify to make that contribution.  Try starting with the maximum amount you would like to contribute.     See the information in the following TurboTax help article to get started:   Where do I enter my traditional or Roth IRA contributions?  

The general rule is that you would get a direct deposit, but your state may have a different procedure. You can try to contact your state DOR to get an answer. List of Department of Revenue by state  List of state DOR's