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February 21, 2026
8:22 PM
Turbotax forgot to remove the accumulative depreciation value from both asset and accumulative depreciation in previous year filing when asset was disposed. The beginning balance for asset and accumu...
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Turbotax forgot to remove the accumulative depreciation value from both asset and accumulative depreciation in previous year filing when asset was disposed. The beginning balance for asset and accumulative depreciation amount are both overstated. Net asset value is correct. What should I do with current year filing?
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February 21, 2026
8:19 PM
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February 21, 2026
8:19 PM
1 Cheer
You may be able to take a § 1341 credit for the amount of the repayment in excess of $3,000 that you previously included in your taxable income (and paid tax on). See TurboTax article, "What is a cla...
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You may be able to take a § 1341 credit for the amount of the repayment in excess of $3,000 that you previously included in your taxable income (and paid tax on). See TurboTax article, "What is a claim of right repayment?" for detailed guidance on figuring and entering this credit.
In your fact pattern, you state that you only received about 1/3rd of the repayment amount as interest income; so it seems 1/3 of the repayment would represent a repayment of previously reported interest income for purposes of the 1341 credit. You also state you liquidated all of your crypto positions in a prior year; presumably, some amount of the repayment total would be figured as previously reported and taxed capital gain income.
Importantly, to the extent that your settlement repayment is offset by any distributions you received from the bankruptcy estate, that portion of the repayment is nondeductible / nonrecoverable (since you already recovered it out of the bankruptcy estate). And if your bankruptcy estate distributions at all exceed the amount lost in preference repayment, those amounts would be includable in the year received and taxable as income.
Because you state that you closed your account with Celsius before their bankruptcy proceedings, and you state that you then reinvested those redemptions of basis and earnings into other, later crypto investments, then I do not see why you would take a capital loss for the amount of the 2025 lawsuit settlement. Did you ever fully forfeit your total original cost value in the crypto or stablecoin investments due to bankruptcy or lawsuit proceedings? If not, I would not characterize this as a total loss of investment value or worthless security. Instead, any repayment can offset net gains / income (such as bankruptcy distributions) in the year received, or be calculated as repayment of previously included and taxed income. You should seek the guidance of a crypto-focused investment tax specialist (CPA or lawyer).
See also: IRS - FAQs Related to Ponzi Scenarios for Clawback Treatment
February 21, 2026
8:17 PM
The easy part is submitting the total wins and the total losses, but then several casinos mailed me 1099-MISC forms (not all of them). The 1099-MISC data is only the total of the wins (no losses are ...
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The easy part is submitting the total wins and the total losses, but then several casinos mailed me 1099-MISC forms (not all of them). The 1099-MISC data is only the total of the wins (no losses are accounted for) so this doubles the wins for these casinos and a much larger tax burden. How do I either submit the losses for these 1099-MISC or how do I deduct the amounts on the 1099-MISC? I heard from other sources that I can enter it into Misc Income/1099-A/1099-C as the negative amount on each of the 1099-MISC. Is this an appropriate method of offsetting these specific 1099-MISCs?
February 21, 2026
8:14 PM
If Turbo Tax is saying Ready to Mail that means your return was NOT filed but it's ready for you to print and mail it to the IRS. And it will always say Ready to Mail. Turbo Tax doesn’t know if or...
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If Turbo Tax is saying Ready to Mail that means your return was NOT filed but it's ready for you to print and mail it to the IRS. And it will always say Ready to Mail. Turbo Tax doesn’t know if or when you mailed it and the IRS doesn’t update Turbo Tax when they get your mailed return. How to mail a return from the Online version https://ttlc.intuit.com/community/printing/help/how-do-i-print-and-mail-my-return-in-turbotax-online/01/26258 You can try to switch to Efile https://ttlc.intuit.com/community/e-file/help/how-do-i-change-from-mail-to-e-file-in-turbotax-online/00/26985
February 21, 2026
8:14 PM
If you are using TurboTax Deluxe Desktop, and your return shows the Standard Deduction even though Itemized Deductions are larger, you can follow these steps to resolve the issue:
Go to Form...
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If you are using TurboTax Deluxe Desktop, and your return shows the Standard Deduction even though Itemized Deductions are larger, you can follow these steps to resolve the issue:
Go to Forms view by choosing Forms at the top of the screen.
Click Open Form above the list of forms on the left.
Enter Federal Information Worksheet.
Find Part VI-Additional Information for Your Federal Return.
If you find that the box is checked to select to take the Standard Deduction even if it is less than Itemized Deductions, uncheck the box and you should now have Itemized Deductions if they are greater.
@fcjo
February 21, 2026
8:12 PM
When working on Investments and Savings, in the online Premium TurboTax, your software listed fund names used in the prior year. Instead of going into each one separately (and importing one at a time...
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When working on Investments and Savings, in the online Premium TurboTax, your software listed fund names used in the prior year. Instead of going into each one separately (and importing one at a time), I decided to import ALL the fund information from that financial firm at one time (I didn't want to review each already listed fund as some new ones were excluded). Now, I cannot get rid of those extra fund categories, despite the trash can next to them. I won't be able to finish or file online with them still there. Please help ASAP. I may have to start all over again and do the returns NOT online (which I was going to do anyway, except for your offer of free State e-filing). I went to the Tax Tools but that would only let me delete whole forms, and I don't want to delete all that info I pulled from the financial firm.
February 21, 2026
8:12 PM
How to view all your accounts https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/many-intuit-accounts-turbotax/L9aVfKS1Z_US_en_US?uid=ll5g6zcx It's common to end up wi...
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How to view all your accounts https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/many-intuit-accounts-turbotax/L9aVfKS1Z_US_en_US?uid=ll5g6zcx It's common to end up with multiple accounts. First LOG OUT of whatever TurboTax account you're logged into right now. Then use this TurboTax account recovery website to get a list of user ID's for an email address. Run the tool against any email addresses you may have used https://myturbotax.intuit.com/account-recovery/
February 21, 2026
8:11 PM
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February 21, 2026
8:10 PM
My Federal refund was still on Ready to Mail, and it has completed the 21 days
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February 21, 2026
8:03 PM
Thank you so much! It wasn't obvious what to do, but your instructions worked, and the download worked. Important to take one's time and not to "block" a permission!
February 21, 2026
8:03 PM
Everytime I select the option to manually enter 1099-DA info, the website says I've hit a snag. I won't be able to complete my taxes.
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February 21, 2026
8:01 PM
To enter Federal or State Estimated Taxes Paid, including a state estimated payment made in January for the prior year, go to Federal on left or at top (Personal for Home & Business) Deductions and...
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To enter Federal or State Estimated Taxes Paid, including a state estimated payment made in January for the prior year, go to Federal on left or at top (Personal for Home & Business) Deductions and Credits Then scroll way down to Estimates and Other Taxes Paid Estimates - click the Start or Update button
February 21, 2026
8:00 PM
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February 21, 2026
7:58 PM
2 Cheers
To enter income from a Form 1099-MISC that is not from working, in TurboTax Online, enter Form 1099-MISC information in the section to which it pertains. In Wages and Income, there are several locati...
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To enter income from a Form 1099-MISC that is not from working, in TurboTax Online, enter Form 1099-MISC information in the section to which it pertains. In Wages and Income, there are several locations where you can enter a Form 1099-MISC.
If you enter Form 1099-MISC in the Other Common Income section, at the screen "Does one of these uncommon situations apply?", a list of options appears from which you can select that includes reasons for Form 1099-MISC other than self-employed income.
In the alternative, you can enter the amount under Other Reportable Income. In TurboTax Online:
Go to Wages and Income
Scroll down to Less Common Income
Go to Miscellaneous Income
Select Other Reportable Income and follow the prompts. Enter a description for the reason for the payment.
@Jakeado
February 21, 2026
7:55 PM
I did not purchase it. It was a spinoff of a previous spinoff by Bristol Myers long ago.
yes - sorry i should have added that info. here's what i got from TT today in an email: We’re happy to inform you that we’ve updated TurboTax and resolved the issue you experienced If you’re...
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yes - sorry i should have added that info. here's what i got from TT today in an email: We’re happy to inform you that we’ve updated TurboTax and resolved the issue you experienced If you’re using TurboTax Online, it’s been updated automatically. Just sign in and you can continue working. If you’re using the TurboTax CD/Download Software, download and install the latest update. You can do this through the prompt when you launch the software or by following these instructions. If you’re still having trouble or there’s anything else we can help you with, feel free to give us a call. Thanks for your patience, The TurboTax Help Team
February 21, 2026
7:53 PM
California Form 568, Limited Liability Company Return of Income, is included in TurboTax Desktop Deluxe and Home and Business.
Depending on how you answer questions in the Schedule C or E secti...
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California Form 568, Limited Liability Company Return of Income, is included in TurboTax Desktop Deluxe and Home and Business.
Depending on how you answer questions in the Schedule C or E section, it may generate automatically. If not, you can bring up the form by going to Forms mode by clicking the button at the top, then clicking Open Form and entering "568".
In TurboTax Online, in the California questionnaire, look for the Business Summary screen and follow the instructions to generate Form 568.
Form 568 must be filed by every LLC that is not taxable as a corporation if any of the following apply:
The LLC is doing business in California.
The LLC is organized in California.
The LLC is organized in another state or foreign country, but registered with the California SOS.
The LLC has income from California sources.
Form 568 can either be e-filed or mailed to:
Franchise Tax Board
PO Box 942857
Sacramento, CA 94257-0501
SMLLCs
For SMLLCs owned by pass-through entities (S corporations, partnerships, and LLCs classified as partnerships), the original due date of the return is the 15th day of the 3rd month following the close of the taxable year.
For all other SMLLCs, the original due date of the return is the 15th day of the 4th month following the close of the taxable year of the owner.
The TurboTax forms availability tool indicates that Form 568 is supported for e-filing but the payment Form 3522 may not be.
@fquinone
February 21, 2026
7:52 PM
It will not let me go past 14 box keeps directing me back to it
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