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Same situation this year, but TurboTax no longer lets me enter a negative Other income in an offsetting 1099-MISC entry.  Do I just carry the info to the Contracts and Straddles section, and zero out the original 1099-Misc?

I have the same situation. If I understand you correctly, the beneficiaries will get a Capital Loss Carry Forward, not the actual full loss against this year's taxes. Will they get $3000 loss each? Or will that be divided by the beneficiary percentages?  Anndee

Only the IRS and your State control when and if a Federal or State tax refund is Approved and Issued.   Once a tax return has been Accepted by the IRS or a State, TurboTax receives no further information concerning the tax return or the status of any tax refund.    If accepted by the IRS use the federal tax refund website to check the refund status - https://www.irs.gov/refunds If accepted by the state use this TurboTax support FAQ to check the state tax refund status - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_...   After the tax return has been Accepted by the IRS (meaning only that they received the return) it will be in the Processing mode until the tax refund has been Approved and then an Issue Date will be available on the IRS website.

I have the same situation. If I understand you correctly, the beneficiaries will get a Capital Loss Carry Forward, not the actual full loss against this year's taxes. Will they get $3000 loss each? Or will that be divided by the beneficiary percentages?  Anndee

@user17717129788 wrote: I purchased turbotax standard program on 11/5/2025. I cannot locate the file on my computer. There is no CD to fall back on. I need to download the program again. Go to this TurboTax website to download the 2025 TurboTax desktop program you purchased - https://turbotax.intuit.com/personal-taxes/cd-download/install-turbotax/

Tried again on Friday the February 20th.  No luck.  I tried deleting the form and starting over.  Same result.  I'm guessing it's not also deleting the worksheet.  I'm now stuck in a loop.  Even if I try to file without my tax credit, it still points to an error with the deleted form.  Sad TurboTax doesn't actually have a technical support line to fix what is clearly an input output code error.

It will not show up on Schedule C and not reduce any SE Tax on a net profit.  It does reduce your 1040 total income for the regular income tax.     Self-employed health insurance deduction goes on Schedule 1 line 17 (which goes to 1040 line 10), as long as the expense is not greater than your net self-employment income. If it does exceed your net self-employment income it gets split automatically. An amount equal to your net self-employment income goes on Schedule 1 and the remainder gets added in to medical expenses on Schedule A.

If the grandchild's total unearned income exceeds $1,350 (threshold for 2025) and the grandchild could be claimed as a dependent, then the grandchild is required to report the income.  This can be accomplished by the grandchild filing a 1040 or have the parents report the dividend income on a form 8814 with the parents' tax return.  You are not responsible, for tax reporting purposes, to pay tax on the grandchild's unearned income even though you are the custodian.   I understand you want to pay the tax for the grandchild.  If the parents use TurboTax to prepare their taxes, then it's very easy to enter the Vanguard income as the last step and see how much additional taxes are due by including the your grandchild's unearned income.  Even if the parents have their tax return prepared by a paid preparer, just ask the paid preparer how much is the additional taxes.  You can then reimburse the parents.  Filing an 8814 is much simpler than having the grandchild file a separate tax return.   Having said that, however, if your SSN is on the 1099, then you should report the $1,100 on your Schedule B and also report $1,100 as "Nominee distribution" to offset the income.