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@markorec wrote:   2024 depreciation was 20% per MACRS ($10,975) multiplied by 80% = $8,780 2025 depreciation will be 32% per MACRS ($17,560) multiplied by 80% = $14,048.   If I decide to sell the vehicle in January of 2026 and trade in for a new vehicle, I am concerned about using the right numbers for the calculation. If a dealer offers me $36,000 for my vehicle is the calculation as follows: $54,875-all depreciation ($22,828) = $32,047 basis $36,000 sale -$32,047 = $3,953 gain   Or do I multiply either of those numbers by 80%?      if I wait another year and take another approx $8400 in depreciation and then trade in for say $34,000, the spread becomes even greater resulting in a bigger tax bite.   The year you take it out of service you only get a half-year of depreciation.  If you take it out of service in 2025, you will only get $7,024 of depreciation.  If you take it out of service in 2026, you'll get $14,048 of depreciation for 2025 and $4,214 in 2026 (based on exactly 80% business use).   $54,875 x 80% = $43,900 business basis $43,900 - $27,042 depreciation = $16,858 Adjusted Business Basis $36,000 x 80% = $28,800 Business Sale Price $28,800 - $16,858 = $11,942 taxable gain     However, when you refer to a bigger "tax bite", are you meaning that is a good way or a bad way?  The additional depreciation is either neutral or is HELPING you.  You are getting a deduction for that depreciation, so paying the recapture when it sells is just breaking it even.  Or if this is a Schedule C business, you are getting a deduction for BOTH income tax AND Self-Employment Tax, and then selling it is only increases income tax (no effect on self-employment tax).  

you probably did what may others do when they sell a PTP and that is to NOT attach the section 751 statement (would require mailing your return), If the IRS inquires you can explain the situation. It was a sale of a PTP. The broker reported the incorrect tax basis using type A or D when for a PTP the correct type is B or D. - tax basis not reported to IRS because the broker doesn't know it. The tax basis comes from the sales schedule provided by the partnership. A copy of which is enclosed. I made a mistake by adjusting the reported tax basis rather than using the adjustment column (code b) but the reported gain/loss is correct.     perhaps also complain to the broker about their misreporting. maybe even move your account. 

No one in the user forum can resolve a billing issue.  If you have a question about your TurboTax fees or billing, make sure you use the word “billing” in your request for help.  Do not use the word “refund.”   https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/contact-turbotax/L2y9ZKpQB_US_en_US?uid=m5s9l2vh

"Code J is entirely custodian's fault."   Presumably you had the opportunity to review the details of the transaction prior to finalizing the distribution request, so it's doubtful that the custodian made the distribution as an ordinary distribution without your approval.   If you do want to challenge the accuracy of the 2023 Form 1099-R, using 2022 TurboTax you would have to enter a substitute Form 1099-R (Form 4852) describing the error and your attempts to get the erroneous Form 1099-R corrected.  With that done, you would report the substitute Form 1099-R on your 2022 tax return as you described.  You would need to file the same substitute Form 1099-R (Form 4852) with your 2023 tax return or 2023 amendment, otherwise the IRS would determine that you failed to report the $154 of income shown on the code-J 2023 Form 1099-R.   Given that the penalties are only $13, I would just treat the distribution as an ordinary Roth IRA distribution as reported by the custodian and as I described in my post above.  It would be less effort (no Forms 4852) and essentially no chance of the IRS disagreeing with the way that you report the distribution.  The $103 of gains would end up on the 2023 tax return instead of on the 2022 tax return.  No matter what you do, both the 2022 tax return and the 2023 tax return are affected, so if both of these have already been filed, both need to be amended.

Oh I was going to post ,  How to get started with the Desktop program, install and activate it, incase you haven't installed it yet......... https://ttlc.intuit.com/turbotax-support/en-us/help-article/product-delivery/download-software-turbotax-com/L7u9oLEkq_US_en_US?uid=luqgvzrd

Huh?   If you were legally married at the end of 2024 your filing choices are to file married filing jointly or married filing separately.  A spouse is NEVER listed as a dependent.   Did you enter her name as a dependent in MY INFO by mistake?   If so, delete that entry.   When you enter the primary spouse’s information in My Info, you have to answer the question "Were you married?"  If you click the button for Married, then a drop down will appear that asks, "Do you want to file this return together with your spouse?"  Then you choose YES to file a joint return.  You enter your spouse's information into My Info.  Whenever you are entering income information there should then be a spot for you and for your spouse's income information.  WATCH for the names as you enter income on the screens.  Or when you click to add income it will prompt you to choose which spouse had the income.   When you prepare a joint return you include all the information for both spouses on the SAME tax return.  Include all of your personal information, all of your income from every source, all dependents (if any), all credits and deductions for both of you.  You get ONE refund with both names on it.    

u0d4n7a0p , your duplicate question is answered here: https://ttlc.intuit.com/community/retirement/discussion/excess-contribution-made-to-ira-in-2022-withdrawn-before-deadline-in-2023-march-1099-r-has-only-code/01/3707851/highlight/false#M252399

The code-J 2023 Form 1099-R indicates that you received an ordinary distribution, not a return of contribution.  As such, only the $51 contribution is reportable on your 2022 tax return and, given that it was an excess contribution, is subject to a 6%, $3 penalty on your 2022 tax return, determined on Part IV of your 2022 Form 5329.  The $51 carries forward to 2023 as an excess and as your basis in Roth IRA contributions.  The 2023 Form 1099-R distribution is not reportable anywhere on your 2022 tax return.   In 2023 TurboTax, make sure on that the $51 appears on the IRA Information worksheet as an excess carried forward from 2022 and as contribution basis carried forward from 2022.   You report the regular $154 distribution by entering the code-J 2023 Form 1099-R into 2023 TurboTax.  This distribution will appear on line 20 of your 2023 Form 5329 to be subtracted from the $51 on line 18, reducing the excess to zero.  The distribution will also appear on Part III of your 2023 Form 8606 where your $51 of contribution basis will be subtracted, resulting in $103 being subject to ordinary income tax and a 10%, $10 early-distribution penalty.

The state return put the correct taxable amount there (10,195 - 7000) even though I had filled Box 16 with total distribution (10,195).    My reasoning to fill that Box was that I should let state know of the distribution as well. (Google Gemini insisted me to fill that box  😃.)     Looks like the state return just got line 11 from Federal return in its line 1. And the state distribution value (10,195) that I had entered in Box 16 field above doesn't appear anywhere in the state return.         Federal return:   Does it mean everything was done correctly? Do you have anything I should double check?   PS: I had already submitted it on deadline day (Oct 15, 2025).   @fanfare