All Posts

It will not work because Turbotax did not go to the effort to update their code to work with Windows 10 which has 23 times more users than Windows 11.  Me a 40 year Turbotax customer.  My experience is that it was easier to switch to H&R Block than to upgrade to Win 11(itself a problem) and Turbotax.  (My tax: married couple joint file, extensive stock trading, no business, no earned income, retiree income, state income tax, standard deductions.) Turbotax broke the loyalty trust and keep it simple principle hooking up exclusively to Windows 11.  Microsoft + Intuit = customer nightmare.

Here are the steps to report the change in ownership of the LLC:   Open your Form 1065 return using TurboTax Business and go to Business Info >> About Your Business. Change the answer to the last question "Has an Ownership Change" by clicking Edit then answering "yes." Under Partner/Member Information, edit the info for your mother.  Check the box "This member left the company this year." Add the Trust as a new member of the LLC (leave the name blank - you will need to add this later). Enter the EIN in the format XX-XXXXXXX. Check the box for "This member is not a person" and choose "T-Trust" from the drop-down box. Continue through the interview to the Change of Ownership page. Indicate there was one change during the year and enter the date the trust was added to the LLC. TurboTax will allocate the income for each member based on this date. On the Profit Percentages page: The outgoing member would have zero for the After Percentage. The new member would have zero Before and an After Percentage equal to the outgoing member's Before number. Total Percentages for both columns must equal 100%. Indicate this was an Exchange with no basis adjustment. Continue to the end of the Business Info section. Now check your entries using Forms Mode.   Open your return and click the Forms icon in the TurboTax header.  In the list of Forms in My Return on the left, scroll down and look for Sch K-1 Wks.  Click the form name to open it in the large window.  Use the embedded scrollbar at the right side of the form to find the entry for the trust (or use page-down). You may need to re-enter the EIN in the "ID" box. Enter the trust name for "Entity Name" and delete any entry for First/Last Names. Be sure there is no red exclamation mark beside the form name in the form list. Click the Errors icon above the forms list to open a footer below the open form and see an explanation of any remaining errors. Resolve any errors related to the Sch K-1 Wks form. Click Step-by-Step in the header to return to the main screens.

If you feel that you need someone to review your taxes in TurboTax, you can upgrade to or use TurboTax Live. TurboTax Live allows a tax expert to review your return, offer you advice, and sign your return.    If you are using a standard version of the TurboTax program, you can generally upgrade to a "Live" version at any point in the process to get this feature.    If you are using a Desktop version of TurboTax you can select a Live Review to have a professional review your tax return information.   You can access this in the "Review" section (this is near the end of the filing process) of TurboTax, or you can choose "Full Service" to have a tax professional complete your return from start to finish.  Click here for What if I need my return completely reviewed? Click here for TurboTax Full Service.

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 used desktop software downloaded/installed from a CD to your own computer, then the tax files are stored locally on your own hard drive or any backup device you used like a flash drive.  They are not stored online.  If you cannot recover them due to a hard drive failure, etc. you can get a free transcript from the IRS or for a fee of $30 an actual copy of your tax return. https://www.irs.gov/individuals/get-transcript https://www.irs.gov/pub/irs-pdf/f4506.pdf

It will not work because Turbotax did not go to the effort to update their code to work with Windows 10 which has 23 times more users than Windows 11.  Me a 40 year Turbotax customer.  My experience is that it was easier to switch to H&R Block than to upgrade to Win 11(itself a problem) and Turbotax.  (My tax: married couple joint file, extensive stock trading, no business, no earned income, retiree income, state income tax, standard deductions.) Turbotax broke the loyalty trust.   Turbotax 2025 + Windows 10 = No work without a nightmare of accommodations and downloading.  Nope, no worky.  But best of luck who want see for themselves. Note to Intuit, think of your customers first next time, if there is a next time.

Hi JamesG1,   Thanks for taking the time to respond. The income was reported on Form 1099-MISC under Box 2 Royalties. The  gross income is $5820, and will be approximately $4000 after expenses.   Thanks again!

Thank you. I see what I need, but it was an adventure getting past the push to online.   Downloaded desktop for 2025, giant popup is "Make the switch to online filing at no extra cost" Default is go online, which is probably how I wound up in The Land of No File Menu or Forms Tab Click Desktop Are you sure? Yes Are you really, really sure you want to use desktop? Use online instead no extra cost. For feedback I clicked features on desktop not available online.    

Hi, I see my number for self employed health insurance deduction (2% S-Corp shareholder) on my tax return is $2458 but when I add my mom as dependent that number goes down and when I add my father that number goes down again. What is the relationship between these, it seems that the number should go higher. They do not have income and they are not on my premium . They have their own insurance.

It will not work because Turbotax did not go to the effort to update their code to work with Windows 10 which has 23 times more users than Windows 11.  Me a 40 year Turbotax customer.  My experience is that it was easier to switch to H&R Block than to upgrade to Win 11(itself a problem) and Turbotax.  (My tax: married couple joint file, extensive stock trading, no business, no earned income, retiree income, state income tax, standard deductions.) Turbotax broke the loyalty trust. 

Although you might be able to view or print your information from the website, most banks, brokerages and other financial institutions do not have the data formatted for import into tax software before sometime in February.  So if you are wanting to enter it sooner, you have to key it in by hand.   Or….wait until it is available for import.   If you want to enter it manually, click the option that says “I’ll type it in myself”  

The zero in box 2a of the Form 1099-R indicates that the 401(k) plan believes that you requested a rollover to a traditional IRA, not to a Roth IRA.  If you properly requested that the 401(k) plan make the rollover be to a Roth IRA, the plan needs to correct the Form 1099-R to show the same amount in box 2a as is in box 1.   If you did not specifically indicate to the plan that the rollover was to be to a Roth IRA, you yourself redirected the rollover to a Roth IRA and there is no reason that the plan would be expected to change the Form 1099-R.  In that case you would need to include a substitute Form 1099-R (Form 4852) in your tax return showing the same amount in box 2a as is in box1.  Note that including Form 4852 prevents you from e-filing.