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What I would do on the old computer, is copy the whole Turbo Tax folder that is under your Documents. That should be where the .tax files and pdf files are stored. Also if you haven't done it, I would open each year in the program and save it as a pdf file, go to FILE - SAVE TO PDF so you don't need the program installed to view your return. Copy that folder to a flash drive or best yet is to burn it to a CD or DVD and then you will have a backup of them. Then on the new computer copy the folder (or files) from the flash drive to your Documents folder. You only need the tax return data file ending in .tax2023 to transfer into 2024 or .tax2024 to transfer into next year. You can't transfer the programs. They have to be installed from the CD or Download. You don't need to install older programs unless you need to amend or you didn't save the pdf file. And they only support the last 3 years. If you install an older year you won't be able to update it or download any state programs, so you won't be able to open your return. See this article on how to move your tax return to another computer……. https://ttlc.intuit.com/community/tax-data-file/help/how-do-i-move-my-tax-data-file-to-another-computer/00/26128 IMPORTANT After you get the program installed or reinstalled the first thing to do before you open your tax return is to update the program and install any state programs you had. Then open your file. So you first might need to start a fake return to be able to download the state program (go to FILE - NEW). Enter some basic information, then go to the state tab and download the state program. Then try to open your existing return, go to FILE - OPEN

@ irladnd wrote: I filed my 2024 return using Turbotax but now have a new computer. I've installed Turbotax 2024 again but it doesn't retrieve the file.  How do I get set up so that Turbotax 2025 will be able to transfer data in for the start of that return? If you used desktop software for the 2024 return, you should have a *.tax2024 data file on your computer.  In Windows the default file location is in the Documents\TurboTax folder, but it could be anywhere you saved it. That's the file you will need to transfer into your 2025 return next year.   So make a good backup of it in case anything happens to your computer.   "I've installed Turbotax 2024 again but it doesn't retrieve the file."   If you want to open the 2024 data file, launch your TurboTax 2024.  If Windows version, at the main screen go to the top TurboTax menubar and in the left corner choose FILE, then in the dropdown menu OPEN TAX RETURN.  Point TurboTax to the file location.   But see my Edit Note below about installing the state software first, if applicable, before you open the data file.   EDIT NOTE:   Added 4/24/2025 at 3:58 PM Pacific     As @ VolvoGirl  stresses in her comment below, before opening the 2024 data file, if it contains a state return, be sure to install the state software first.  Otherwise you may get an error notice.   See additional recommendations in her posting below.

Yes, you will need to file a final tax return for the partnership, even if you had no income. Also, you'll need to file notification with the state declaring the business has ended.   File new documents with the state to form a single-member LLC. Then you can report any activity for that entity on Schedule C of your personal Form 1040 return. You will need a new EIN.   There are no quarterly filing requirements for the IRS other than estimated taxes, if that applies. Otherwise, you would need to file quarterly wage withholding reports if you have employees.   Due to the change in business structure, you might seek assistance from a local attorney or tax professional who would be familiar with your complete business situation.

@fanfare wrote: @ mesquitebean  the words "estimated tax penalty"  on Form 1040 do not mean your penalty is being estimated. It means you underpayed Estimated Tax after withholding. That's why I suggested it might be clearer to say "penalty for estimated tax".   Or even clearer yet if the IRS just said "underpayment penalty" on Line 38. 

What file do you have on the thumb drive?  Is it the pdf or the .tax2023 file?  If you have the .tax2023 file you need to first copy it to your computer before you  transfer it into 2024 or before you try to open it in the 2023 Desktop program.     Are you using the Online version for 2024?   If you used the Desktop program last year here’s How to transfer into the Online version. You need to have the prior year .tax2023 file on your computer. Expand the link if you used the Desktop software last year........ https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/transfer-last-year-return-turbotax-online/L279eUvY2_US_en_US?uid=l8w7nlbv Or here’s How to switch and transfer from the Desktop program into the Online version........ https://ttlc.intuit.com/community/tax-topics/help/how-do-i-switch-from-turbotax-cd-download-to-turbotax-online/00/859756

@ fanfare wrote: @ mesquitebean  the words "estimated tax penalty"  on Form 1040 do not mean your penalty is being estimated. It means you underpayed Estimated Tax after withholding. That's why I suggested it might be clearer to say "penalty for estimated tax."   It would even be clearer yet if the IRS just simply said "underpayment penalty" on Line 38.  

If you are using the TurboTax desktop Home & Business, box 17900 should be checked if you have sold your primary residence in 2024. To verify, go to forms mode, click on Forms at the bottom of the screen, and look for Schedule 3.    If you sold your primary residence in 2024 you must also fill out the T2091 and PRWS forms. The easiest way to do this is to enter the information in the EasyStep mode to ensure you do not forget any information. In EasyStep click on income and expenses >> Principal Residence. If you originally filed it out in the forms mode, we recommend reviewing the section in EasyStep.   If you did not sell your primary residence, then box 17900 should not be checked. Verify if forms T2091 and PRWS exist in your list of forms and click on Edit menu >> Forms >> Clear current form and repeat and click on Close current form.    Hope this helps resolve the error.   Thank you for choosing TurboTax    

You can look at your 2023 information in the online version by logging in and clicking on that year.   If you used the desktop version you need to open the prior year tax file.  Which is harder to navigate to if it is stored on a thumb drive.   @denmartamullin 

Undepreciated Capital Cost (UCC) is the amount left on your assets for further depreciation. Your UCC is your running balance for each capital cost allowance (CCA) class from last year.  You can find this info on last year's return, or, if you transferred your TurboTax return from last year into this year's return, this amount will already be filled in for you. If this is your first year of claiming CCA on an asset, you won’t need to enter any amount for the UCC.    

Your 1099-K showed 21K in income and then you entered your expenses and got the income down to the point where you only owed $1800.  That means you had a profit of some sort.  Why do you think that you had a loss?   @kavin 

@RobertB4444  Makes sense!  Date differential.   I did look at my TT forms.  And TurboTax did calculate the $250 penalty by using form 2210, but form 2210 was not included in the efile.  It calculated the interest due from quarterly underpayments.  The estimated payments that should have been paid were far higher than the $250.  Interest rates were 7% and 8%.    Seems I was asked when I expected to pay the amount due.  Perhaps that date could have been used when calculating the penalty.  However, I don't know that I would have filed on the date I specified anyway.   Gotta try not to let under estimated payments happen again.  🙂    

Generally, you can't, but if you renovated your home to earn income, or to make the property more accessible for a senior or a disabled person, then you might be able to claim something on your taxes.    

@sarif01 What boxes are you filling out on your T3 slip?   On your T3 slips:  Enter the 50% under your percentage  If you have an amount on box 21 you need to enter that same amount in box 52 or 53 (either or not both) This transfers correctly to Schedule 3 at 50% for each person.    See the example below:          Thank you for choosing TurboTax