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@metu   Namaste ji Before one can answer  (a) Are you US person ( citizen/GreenCard/Resident for tax purposes )?  If yes, you are taxed on your world income, file on form 1040, rental income reported on Schedule-E.  If not , then you are taxed a NRA, file on form 1040-NR -- you are  taxed on your US sourced/connected  income. Your rental income is passive but US sourced.  Also the state ( CA?) would want a cut. (b) Are you planning of buying  housing only for purposes of income or you plan to use as own home.  Note there is at least a 1/4 point penalty for  rental property mortgage. (c) If buying residential property, are you proposing use of entity (  SMLLC, Partnership etc. ) or under your own name ? (d) if you are a US citizen or GreenCard, which country are you a citizen of ? (e) Real question here is what are you trying to achieve ?   I will circle back once I hear from you --yes ? Namaste ji

2024 "numbers" will not transfer to 2025.   Your personal information and the information regarding names of employers, EIN's, 1099's, 1098's, etc. transfers over.   Even with that transfer you still have to enter 2025 amounts yourself.   Your 2024 numbers are not going to be "plugged in" to calculate your 2025 tax refund or tax due if that is what you are hoping for.

yes I have the 2025 downloaded. My question is can I transfer ALL of my 2024 numbers into 2025 or do I have to enter every w2, 1099? as a test. Do you know if this is posable? I want a quick appraisal of how the new Tax laws affect my tax without entering every number from last year. Thanks

The online software for 2025 is not yet available.   Only the desktop download for 2025 is currently available.  Online will be ready in early to mid-December.     In answer to transferring your 2024 information---you must transfer the tax file, not a pdf.       https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/transfer-last-year-return-turbotax-online  

@superlyc I would check the safe harbor, from what you describe with your increase in withholding already, maybe you met 2024 tax and you don't have to worry about estimated tax.   to @NCperson's point Form 2210 AI method is a pain but provides that ability to handle unexpected income late in the year to line up with one-off ES.  Q4 Roth conversions is another example.  IRS still expects you to plan and pay tax timely.  The 'pain' in the AI method is you have to calculate your AGI, withholding, qualified divs and LTCG by quarter (3/31, 5/31, 8/31, 12/31) which TT can't do automagically, you have to work all that out and input it.

Nope! There is nothing of significance in Windows 11 that couldn't have been updated into Windows 10. The changes are superficial, and a lot if changing 'happy' to 'glad' so MS and their PC Hardware buddies can realize a bump in revenue and profit. I have also found alternatives to Turbo Tax who are not as tone deaf to their customers finances and whose products are rated similar to Turbo Tax. I am not looking forward to  manually entering my data in February, but I refuse to condone and support corporate greed and backdealing that Intuit appears to have adopted as their business model.

2024 & 2025 Turbo Tax Desktop Download System Requirements. For 2025 you will need Windows 11 or later or Mac OS Sonoma 14 or later (newer). Click on the 2025 tab at the top. https://turbotax.intuit.com/personal-taxes/cd-download/tta-system-requirements  

@superlyc - it gets complicated.... the IRS expects to get paid quarterly and unless you complete form 2210 (which is a pain in the neck), it assumes your income was earned evenly spread through out the year.    you can pay ahead to avoid any penalty.  The due date for income generated between Sept 1 and Dec 31 is January 15, 2026.  But the IRS will always take money early! 

When you amend you will need to delete the SSA1099 that you entered for your grandchild.      Go to Federal> Wages & Income>>Retirement Plans and Social Security  (SSA1099 and 1099RRB) to enter /delete a SSA1099     Do not enter the SSA1099 for your grandchild on your own tax return.   Someday if the child has other income  (after school job, etc.) and is filing a tax return, for that tax year he will need to include the SSA1099 on his own return.  Until then, it does not get entered anywhere.   https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/amend-change-correct-return-already-filed/L4VjJ9BA2_US_en_US?uid=m76mq6z2    Do not expect quick results from amending. It can take four months or more for the IRS to process an amended return.     You can watch for information here: https://www.irs.gov/Filing/Individuals/Amended-Returns-(Form-1040-X)/Wheres-My-Amended-Return-1