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If you live in a common law state, then one-half of the assets in the LLC get a stepped up basis.   If you live in a community property state where the LLC interests are held as community property, then 100% will get a stepped up basis.

yes on the safe harbor recap I see my typo there thanks for clarifying.  there're more guidance on this topic here https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-is-form-2210/L2z0haVWb   Yes 2210 AI can be a pain to do, depending how complex your situation is and whether it's worthwhile depends on how much penalty you are trying to eliminate.  You're doing mini tax returns for each quarter, and have to self-calculate the AGI i.e. replicate lines 1-11 on Form 1040, splitting up your income and any line 10 adjustments etc.  Turbotax won't guide much it just asks for those inputs then does the rest of the form 2210 mechanics - the annualization and tax calcs, and needs breakdown of LTCG/Qualdivs and withholding to do that.  There's probably other 3rd party advice on it if you do some searches and also go thru the Form 2210 instructions.   There's one other option which still involves some penalty but I'll put it out there, which is to adopt quarterly ES payments late, and quickly catch up your Q1-3 ES installments now to stop the penalty accruing, then pay Q4 in January.  At this point (mid Oct) your Q1 installment is about 6 months late, Q2 is about 4 months late, Q3 is about 1 month late, with an annual penalty rate for 2025 of 7%.  So for example if your total ES due was 10k for a quarterly ES of 2.5k, the penalty at this point if you catch it up should be (roughly) $2500 * (6+4+1)/12 * 7% = $160.   If you do not pay any ES at all then by default and without the AI method, for the same example, your final penalty by mid April would be roughly 2500 * (12+10+7+3)/12 * 7% = $467.   (if my penalty math is correct)   Beware also the $250 penalty last year may have been based on a lower safe harbor based on your 2023 tax which won't apply this year if you've being doing sizable Roth conversions since 2024, and the 'default' penalty if you do nothing could be much higher than last year.   One tip if you are using desktop TT, in forms mode you don't see Form 2210 by default, but if you double-click line 38 on Form 1040 then double-click the same line in the worksheet, TT will then show the 2210 form and penalty calculation.   Hope that helps.

Thanks, but that wasn't the question.   Your post above makes no mention at all about a home office.  If you were reimbursed by insurance for some of your costs you cannot enter the amount you were reimbursed for as an expense on your tax return.   You can only enter the amount that you actually paid.

Thanks, but that wasn't the question.   I'm self-employed and work from home. My question was, should I deduct what the insurance company sent me from the actual numbers? I entered the actual numbers. I asked him where they got the number. He hasn't responded. I don't have time to wait.

You should be able to get it from your credit card statements.   Or if you had the fees deducted from a federal refund see how much less your refund was from your tax return line 37.   And remember there is an Extra $40 Refund Processing Service charge (45 in California).  

@smithbg1 wrote: I have looked everywhere for how the MAGI is calculated and you're the ONLY one who has stated that MAGI does not include the non-taxable portion of Social Security.     There are MANY kinds of MAGI that are slightly different.  The original answer was in response to question about the new exemption that starts in 2025 for people age 65 and older.  If you are referring to MAGI for another purpose, you need to specify what you are referring to.

One more note, @smithbg1 - sometimes, MAGI does include the non-taxable portion of social security benefits, such as when calculating the Premium Tax Credit. For purposes of the Senior Tax Deduction, I can confirm that the non-taxable portion is thankfully excluded, per the bill section below:   “(iii) Limitation based on modified adjusted gross income.—“(I) In general.—In the case of any taxpayer for any taxable year, the $6,000 amount in clause (i) shall be reduced (but not below zero) by 6 percent of so much of the taxpayer’s modified adjusted gross income as exceeds $75,000 ($150,000 in the case of a joint return).“(II) Modified adjusted gross income.—For purposes of this clause, the term ‘modified adjusted gross income’ means the adjusted gross income of the taxpayer for the taxable year increased by any amount excluded from gross income under section 911, 931, or 933."   Sections 911, 931 and 933 deal with the following, respectively: citizens or residents of the United States living abroad; income from sources withing Guam, American Samoa, or the Northern Mariana Islands; and income from sources within Puerto Rico. Just wanted to make sure I clarified my answer to indicate that sometimes the MAGI calculation depends on what it is being calculated for. Thanks!

WHAT IS AN RMD?   https://ttlc.intuit.com/turbotax-support/en-us/help-article/retirement-benefits/rmd/L5Nqogylp_US_en_US?uid=m7dj7gdt     https://ttlc.intuit.com/turbotax-support/en-us/help-article/financial-institution/auto-import/L12wI9uKM_US_en_US?uid=m6wcupvi      NOT ON THE DROP DOWN LIST If your bank or financial institution is not on the drop down list, click the words “I’ll type it in myself” and key in your information by hand.     See if your financial institution is on the Partner List - If not, you will have to enter the information manually.     IMPORTING VARIOUS KINDS OF 1099’s https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/import-1099s/L2hPcduMb_US_en_US?uid=m8jay5v3       https://ttlc.intuit.com/turbotax-support/en-us/help-article/retirement-benefits/rmd/L5Nqogylp_US_en_US?uid=m7dj7gdt  

This is how it showed up on my Federal 1040:   1. The total distribution appeared on 4a and earnings appeared on 4b. Should it not have populated 4a?     2. Form 5329 was generated like this:     3. It also added the statement about the return of contribution that I had written: 4. It showed up like this in the state return:     5. I didn't see any indication that the 1099-R I entered was for 2025 as selected in the form (Code P J). Where do I see this info in 1040?         Did I do this right, or did I make any mistake?   @fanfare @AnnetteB6 @DanaB27 @MinhT1 

No one can call you from the user forum.   Beware of anyone who calls and says they are from TurboTax---only scammers and would-be identity thieves will call you if they see your information here.   This is a public web site that can be seen by anyone—including scammers and would-be identity thieves who would love to contact you and pretend to be from TurboTax.  Please remove the personal information you posted here ASAP by returning to your post and clicking the three little blue dots on the upper right to edit your post.   To enter your retirement income, Go to  Federal> Wages and Income>Retirement Plans and Social Security>IRA  401 k) Pension Plan Withdrawals to enter your 1099R.