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Hi, replying here in hopes that additional reports help get this treated with the appropriate level of urgency. I am also experiencing the same issue, in my case using Turbotax for web. I can confirm that this is a new bug as of this year, as my tax return is structurally similar to last year's and the Form 1116 line 33 field was entered correctly in my 2024 tax return.    This bug causes a very significant misreporting of my tax due (claiming I owe much more than  do). Given there's now two cases of this, who knows how many others aren't even aware that this field isn't being input correctly. Thanks and appreciate any escalating that can be done here.   Edit: I attempted to flag this as well via other venues, like with a tax expert or support, and they will suggest or say anything but acknowledge there may be an issue or do anything to potentially escalate to a development team to look into this. 

No, there is not a known issue with Colorado returns that has been documented.     Try deleting your state return and starting it over.  There may have been an issue when the data was transferred from the Federal return to start the state.  If the issue is not corrected, feel free to come back and let us know.   See the following TurboTax help articles for guidance:   How do I delete my state return in TurboTax Online?   How do I delete my state return in TurboTax Desktop for Windows?  

If they owned rental property then they were not able to. The program stops you from filing because the new update for depreciation has not been released.  I am guessing they purchased after reading other threads that HR Block was updated and then ran into the same issue I did. Specifically Form 4562 is the one requiring the update so if they didn't need to file that for some reason then they could have filed. If you search on Federal Tax form availability on HR Block's site it will tell you that the Depreciation schedule will now not be available until Feb 27th.  The below is cut and pasted from their site:   Form 4562: Depreciation and Amortization 2/27/2026 2/27/2026 Depreciation Summary: Summary of Assets 2/27/2026 2/27/2026 Depreciation Worksheet: Depreciation Worksheet 2/27/2026 2/27/2026 Vehicle Worksheet: Vehicle Expense Worksheet 2/27/2026 2/27/2026 Bonus Depreciation Election Out: Bonus Depreciation Election Out 2/27/2026 2/27/2026            

I uploaded a copy of it. As you can see it doesn’t have any dates and just lists # of transactions as “10”.    what I am trying to determine here is should I individually put each transaction into TurboTax with the cost basis and Proceeds? Then I would upload my 1099-DA along with my gain loss report that Coinbase had provided me? Because when I go to try to put everything in a TurboTax, it asks if I have more than four transactions and then it asks for me to put the total of all proceeds and the total cost space is instead of having me do it individually will that cause a problem with the IRS

On Schedule C?  Should you have a profit or show a loss?    If you are not showing a loss on Schedule C.... Some expenses, such as home office or section 179 depreciation can only be used to reduce your schedule C taxable income to zero, and not to create a loss. Excess deductions for these carry over to the next year. And you have to answer yes to both questions about exclusive and regular use, not just one. The area of your home office must be used regularly and exclusively for business to deduct it.   Or you checked the box on Schedule C line 32b saying Some Investment is Not at Risk. If you have money not at risk you can not take a loss on schedule C. If you don't know what it means then probably All your Investment is at Risk (check Box 32a). It means you are using your own money for the business. People usually check the wrong box.

Thank you for responding. I am extremely reluctant to provide my tax file as described in your feedback. One reason is that I have no way of knowing what is being transmitted to Intuit if I upload the file. While it may be scrubbed of person information I do not have a way of verifying that. A second reason is that if I provide the “token” to the reply to my message then that clearly links my account to the case or file I upload. Since my login here is through my Intuit login (with my email address) that token is linked to me. I don’t consider that anonymous at all.   My post makes clear exactly where there is an error. Specifically it describes that the California Form 5808, Part II, Line 5 number is determined by a calculation based on the correct data shown to me on Line 2 of the “California Carryover Worksheet for 2025”. While I have no doubt that having my data file would make it easier to debug this issue, I would expect that my clear description in my original post should allow examination of how the field on California Form 5808, Part II, Line 5 is programmed to work.   Happily, TurboTax offered me the option to have the state of California calculate any penalty rather than file my taxes with the incorrect penalty information computed by TurboTax. Unless this bug in TurboTax is corrected prior to the time I file my taxes that is what I plan to do.   That this issue exists brings up 3 thoughts: How many other errors is TurboTax making in my tax computations?  How many Californians will file with incorrect penalties being assessed? I’ve used TurboTax now for a very long time but this makes me question whether I will choose to do so next year.   Thank you again for taking the time to respond. I hope that TurboTax can address investigate and address this error so that others do not encounter it.

It will tell you that the Kiddie tax form 8815 is trigger (and you can't use the free edition of TT) but there is no actual kiddie tax because his taxable income is $0 (his standard deduction is more than the $11K "earned/hybrid income").  See the calculations on form 8815.    Q. Other than trying to override the schedule 1 to get the information on line 8r, how do I answer the questions in TT to get it to go there? A. The way to enter stipend/scholarship income, in TurboTax, is at Deductions and Credits / Education / Expenses and Scholarships.  After answering no to having a 1098-T*, answer yes to qualifying for an exception (that gets you to the entry screens). You will have to go thru the whole education interview to get to the scholarship screen. At the scholarship screen, enter the amount of the grant. When asked if any was used for room and board, answer yes. Then enter the amount you want to be taxable (usually all of it), in the pop up box. R&B are not "qualified educational  expenses".  So, this is how you tell TT that it is taxable. Note the wording at that screen “or other expenses”. You didn’t have to literally use the scholarship for R&B.  This will put it on line 8r of Schedule 1.   *If you do have a 1098-T, one of the follow-up questions will be do you have any scholarships not shown on the 1098-T. Enter the additional scholarship/stipend there.  

Your financial institution may report transactions where one or more data elements are unknown by the institution and cannot be reported.   In such a case, you have to determine cost basis from your own records.  For instance, if you purchased the investment, the cost basis is what you paid for it.   At the time that you received the shares and received a report from the bankruptcy court, what value were you told that the shares held?     You may have held some investment that then precipitated your involvement in the bankruptcy proceeding.  What was your cost basis in that investment?   Were the shares received in a bankruptcy settlement that took place in 2025?  Or at an earlier date?  This date may give you a idea whether the investment should be reported as held on a long-term or short-term basis.   In addition, you might ask the broker if they have any information about the acquisition date and purchase price. Sometimes they have the information, even though they do not report it on the IRS form 1099-B which they issue.