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With a grantor trust, there are two ways to go. The trust owns the assets. However, the holder, such as a brokerage, is given your SSN (not the trust ein) and issues the tax reporting form using your SSN; no 1041 is required. If they are issued using the trust EIN, a 1041 is required, and it produces a grantor trust letter. There are two thoughts on reporting a grantor trust letter in an individual's 1040. 1) Complete the k-1 for the trust. 2) ignore the k-1, and enter on the same forms that the items would be entered on if no trust existed Of course, the best solution would be for TurboTax to creatoe K-1 for grantor trust reporting. .       

This is now fixed but you will need to follow these steps to generate the form and/or fix your rejection:   Sign in to your TurboTax Online account and select Fix my return. Select Federal from the left menu, then Deductions & Credits. Scroll down to Charitable Donations and select Revisit next to Donations to Charity in 2025. You must review each non-cash donation entry. For any donation or group of similar items over $500, ensure you have provided: The organization's name and address. A description of the property. The date you acquired it and how (e.g., purchase, gift). Your cost or basis and the Fair Market Value (FMV). Once you provide these details, TurboTax will automatically generate Form 8283.   If the form still does not appear in your Tax Summary: Go to Tax Tools > Tools > Delete a form. Check if there is a "ghost" Form 8283 or Charitable Contribution Worksheet that is blank. Delete it. Go back to the Donations section and re-enter the details for the specific high-value items. This forces the software to re-trigger the form creation. Once corrected, proceed to the File section to resubmit your federal return.

The penalty you mention may be applicable to the other three quarters of estimated taxes. Also, the payment you make with your tax return is just an estimate, the IRS will calculate any actual penalty for late payment of tax regardless of the estimate you pay in.

Here's how you can fix it:  Sign in to your account and select the Fix my return button. Follow any “fix it” instructions to update the information causing the rejection.    Note: Not all rejections will have explicit guides to fix the information. You’ll need to navigate to the program area to address the cause of the rejection.    Time-saving Tip: If what you originally entered is correct, you won't be able to e-file. There's probably a data mismatch at the government, a dependent that's already been claimed, or some other situation beyond your control that prevents your return from being e-filed. In this case, your only option would be to print and mail in your return. This article will give you instruction on how to print and mail your return.    Additional reject instruction here. 

$49,000 is the correct loss calculation, assuming that you yourself originally purchased the mutual fund shares for a total combined $54,000 purchase price, and you sold them last year at a large loss for only $5,000 in sale proceeds.    Gain/Loss = Proceeds - Basis  ($49,000) = $5,000 - $49,000    As long as you "lost" the $49,000 in total share value over the life of the investment, then what the software is calculating for you is correct.   Did you have a more specific question about your cost basis and capital gain transaction for these shares? Did you purchase these yourself, or did your receive them from someone else?    Keep in mind that if you were not the original buyer of these shares, you may have a different cost basis than the original purchaser. This would result in a different gain or loss on your Form 8949 for the year. See this note from the IRS instructions for Form 8949:    The basis of property acquired by gift is generally the basis of the property in the hands of the donor. The basis of inherited property is generally the fair market value at the date of death.    Learn more about Form 8949 at this TurboTax video link.

@dboy7 I have done the exact same as you on the exact same dates as you with the same situation receiving a payout, but a bit larger. I am curious if the rejected returns are because of us reporting the class action income may be causing the issue and that TurboTax hadn't gotten their forms together correctly.

No.   Payments for past taxes due are not reported on your tax return.    Estimated taxes are amounts you paid during the year for taxes which become due when you file the current year's tax return.

To access your current or prior year online tax returns sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/ Scroll down to the bottom of the screen and on the section Your tax returns & documents.  Click on the Year and Click on Download/print return (PDF)   If you used the desktop CD/Download editions installed on your computer, the only copy of your tax data file and any PDF's will be on the computer where the return was created.  TurboTax does not store online any returns completed using the desktop editions.   Go to this IRS website for free transcripts of a federal tax return - https://www.irs.gov/individuals/get-transcript   For a fee of $30 you can get a complete federal tax return from the IRS by completing Form 4506 - http://www.irs.gov/pub/irs-pdf/f4506.pdf

If you are unable to access your TurboTax account, there is a way to recover your account. See the following TurboTax article for tips on how to address various login issues, including not being able to access the verification code:   I Need Help Signing Into My Intuit Account

In the Michigan state tax return section of TurboTax:  Look for the page titled Take a look at Michigan credits and taxes Under Other credits, Start or Revisit Other State Tax Credit On the Qualify for Other State Tax Credit?  select Yes On the Other State page,  choose the option for City/county/locality outside Michigan from the dropdown Enter Marshall County as the Local Government Complete the Income Tax By Both Jurisdictions (US$) and Tax Paid to (US $). MCL § 206.255(1)

If your entire distributions shown on Form 1099-Q were used for qualified education expenses, then you will indicate that in TurboTax when prompted.  The earnings will be tax-free if/only when they are used for qualified education expenses.   Here's a link that walks you through where to enter Form 1099-Q in TurboTax; Where do I enter a 1099-Q?

The Form 1040-X for amending a 2025 tax return is estimated to be finalized and available in TurboTax on 02/19/2026.   You will have to wait for the IRS to either Accept or Reject your filed federal tax return. If the return is rejected you can make the necessary changes and e-file again. If the return is accepted you will have to amend your original tax return. An amended return, Form 1040-X, can only be printed and mailed to the IRS if the original tax return was not e-filed. The IRS will take up to 20 weeks or longer to process an amended tax return. Before starting to amend the tax return, wait for the tax refund to be received or the taxes due to be paid and processed by the IRS. See this TurboTax support FAQ for amending a current year tax return - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/amend-federal-tax-return-current-year/L7eS6o1qh_US_en_US?uid=lfunevhk

Here are several troubleshooting steps that you can try: Make sure your Windows Software is up to date. If you are using a downloaded version, uninstall and reinstall the program from your MyDownloads folder.  How do I find my TurboTax for Windows software download? If that doesn't help, try a manual update. What is a manual update? Turning off your VPN and anti-virus software during the update can help as well.

I was in similar situation.  I actually tried to "Transmit Now" since the errors related to assets that were fully depreciated prior to 2025.  However, after I clicked "Transmit Now", I received a message that e-filing could not be processed due to the errors in depreciation errors noted.   I guess I'll have to wait for the bug fix.   Disappointing Intuit hasn't remedied the problem already. 

If you are getting an error regarding "Covid Disaster Recovery" you can try deleting Form 8915-F if one is listed. Sometimes it is carried forward from a prior tax year.   To delete this worksheet, you can try the steps listed below.   If you are using TurboTax Online, you can try: Go to "Tax Tools" in your left panel of your TurboTax screen, then  Select "Tools" and  Under "Other Helpful Links"  Select "Delete a Form."  This will bring up all of your forms and you can click on "Delete" next to the Form 8915-F.   If you are using TurboTax Desktop, you can try:  Click on the "Forms Icon" on the top right of your screen to bring up  "Forms Mode"  Choose "Form 8915-F" from the list of forms in the left panel of your TurboTax screen 3. Use the "Delete Form" option at the bottom of the worksheet to remove the worksheet Select "Yes" to confirm deletion of the form   Click here for How Do I View and Delete Forms in TurboTax Online.   You can also go back through your Form 1099-R entries and make sure you did not select "I took this money out due to a qualified disaster" on the TurboTax screen that says, "Do any oof these situations apply to you?"   You can easily get to these screens in the TurboTax program by clicking on "Search" in the top right of your TurboTax screen and typing "Form 1099-R" in the search box. Then click on the link "Jump to Form 1099-R."  Continue through your screens until you get to the screen "Do any of these situations apply to you?"   You may  need to clear your tax return and start over to clear this error message.  Click here for How do I clear and start over?   But first try the following steps: Go out of your program, close your browser and go back in. Clear your cache and cookies. Try a different Web Browser. For further instructions on how to clear cache and delete cookies, please see the links below:   Click here for How to clear your cache.   Click here for How do I delete cookies?     Please return to Community if you have any additional information or questions and we would be happy to help.