All Posts

Open the form by selecting the forms tab, go to line 25, for electric panel and sub panel question and check the box for option ‘No’. Since turbo tax leaves both option blank, the e-filing gets rejected. So update it and file.

Almost the same instructions.  In the Premier product, you will go to:     Federal Taxes (top menu) and then Wages & Income.  Select I'll choose what I work on.   Scroll down to Investment Income and Click Start / Revisit to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other. Answer Yes on the Did you sell investments? screen. Click on +Add investments. Skip Import Choose Other - 1099-S, then hit Continue. Enter your own reference info for the broker. On the entry screen, choose Collectible for the TYPE of investment, and enter your information.   Where do I enter investment sales?   Capital Gains Info  

If your tax return keeps getting rejected, you can review this information. It contains rejection codes and fixes. What does my rejected return code mean and how do I fix it?   You can contact TurboTax Customer Service using this link: Turbo Tax Customer Service.   Click here for Tax Tips for Avoiding E-file Rejections   Click here for How do I fix e-file reject IND-031-04 or IND-032-04?  

@DianeW777  Thanks a lot for your advice. As per the house sale, we are in middle of the process and hope to close in a month. I haven't yet filed my 2025 returns yet. As per your suggestion, it's ideal to file 2025 returns with correct building cost basis and corrected previous year depreciation to show accumulated depreciation till 2025.  @DianeW777 ,@Turbotax community, could you please advise on any specific item or info from 2024 returns that is relevant to 2025 filing? Just checking to make sure I can complete correct 2025 returns before April 15th without need for amendment later.  Are there any penalties on improper depreciation applied at recapture time during selling? Is the penalty  mainly on the taxes owed on income lowered due to over-depreciation? If an amendment is asked by IRS, will it be only for 2024? provided 2025 returns use correct cost basis. Appreciate your response. Thanks

MarylinG1, thank you for taking the time to write an answer. I see that you made a similar answer in an other almost identical thread. I am just a regular person and not a tax expert. I like doing my own taxes and understanding as much as possible. A plain reading of publication 561 strongly suggests, if not outright says, that the correct way to value a stock is average share price. Comparable sales is specifically mentioned when talking about other kinds of property. I welcome clarifying information showing why average share price is not correct? Perhaps there is an IRS ruling, or it is spelled out more clearly in another publication? Or maybe this is just something that tax professionals know but is not written down anywhere? At the moment I still believe that "Average share price" is the proper way to fill out this form in this circumstance. But I also suspect that it doesnt matter much because no one at the IRS is going to look at it, and it doesn't change the numbers.

If your TurboTax program is not letting you pay for your tax return, please try the following:  Sometimes simply signing out and signing back into your TurboTax account can clear this. Clear your cache and delete your cookies. Click here for How to clear your cache. Click here for How do I delete cookies? Also try a different web browser, such as Google Chrome or Firefox.   And try using incognito mode (private browsing). If you are using TurboTax Desktop, you can try the following:  Run the program as an administrator. Set your display scaling to 100% in Windows Display Settings. Make sure your software is updated by clicking "Online" in the top menu and selecting "Check for Updates." Some other payment issues fixes you can try are as follows: Verify that your Billing Address for your credit card exactly matches your address that your financial instituion has on file. Make sure that your address matches your address in your "My Info" section of TurboTax. Disable any ad blockers or antivirus programs that could be blocking the secure payment screen.  You can contact TurboTax Customer Service using this link: Turbo Tax Customer Service  Please return to Community if you have any additional information or questions and we would be happy to help.

Thanks for the response, Catina!   I wanted to share what worked for me in case it helps others dealing with the same Form 5695 / Enabling Property rejection.   Clicking "Fix Rejection" was not helpful — it would just flag the Enabling Property fields, reference the March 6th fix, and loop back without resolving anything.   What I tried (on March 10): Loaded my tax return progress on a different laptop Cleared Google Chrome cache, cookies, and website data Used Tax Tools → Delete Form to delete Form 5695 Revisited the Home Energy Credits section and re-answered all the questions Went through the full Federal return review, all the way to the e-file screen (just before submitting) — this seems to regenerate/update the forms; note that you can't download the updated PDF unless you go through to the end of the e-file flow One thing I noticed: The rejection error does not go away even after you've made changes — it only clears once you actually go through the e-file process. So don't rely on it as a signal that something is broken or fixed.   After going through all of the above multiple times, I took a chance and submitted — and both my federal and state returns were accepted! 🎉   I'm not entirely sure what made the difference. My Form 5695 PDF didn't visibly change (the Yes/No answers stayed the same), so it's possible something was fixed on the IRS or TurboTax backend. Either way, it's resolved!   Hope this helps someone else in the same situation.

Generally, qualified dividends should be included in your estimated tax calculations as capital gains (specifically, long-term capital gains rates), not ordinary income. While they are listed within the "ordinary dividends" total on tax forms, they are taxed at lower preferential rates depending on your overall income.    See this IRS webpage for the capital gains rates for 2025.   See this TurboTax blog for more information about dividends and taxation.