All Posts

Yes. You should amend to report the earnings on excess IRA contributions.   If you are expecting a refund, you should wait until your return is processed by the IRS. If, however, you expect to owe, then you should file your amended return before April 15th to avoid additional penalties.   Note: Form 1040X is not available yet. It is expected to be available March 4th.   You do not need to upgrade your TurboTax services to file an amended return.   To report your earnings, create a substitute Form 1099-R, since you will not be receiving the official one until next year, but have to pay tax on the earnings this year.   Here is how to make the necessary changes in your amended return.   TurboTax makes it easy for you to file an amendment. Here is a link on how to proceed with the amendment in TurboTax. While you wait to receive your Form 1099-R in 2027, you will be able to manually enter your transactions as if you had Form 1099-R, by doing the following:   Go to Wages & Income on the left panel within your TurboTax account Click on the +Add more income box Scroll down to Retirement Plans and Social Security and click the down arrow to expand Click Start to the right of IRA, 401(k), Pension Plan Withdrawals (1099-R) Click on +Add a 1099-R, select the Change how I enter my form box On the next screen, you can select Type it in myself, then Continue Select the box on the top left for Financial institution or other provider (1099-R), then Continue Enter the provider's information, then Continue Enter the details for your substitute Form 1099-R, using Distribution Code 8 (or 8J if ROTH) (if the distribution happened in 2025), or P (or PJ if ROTH) (if it happened in 2026), then Continue For Box 1, enter the gross distribution amount For Box 2a, enter the taxable amount (the amount of earnings you need to report) Continue answering the questions, pressing Continue to advance You will then enter the calculations for the substitute amounts, as well as an explanation, then Continue Here is a link to What do all the codes in Box 7 of the 1099-R mean?

@bpalmer7440    The file name extension for last year's file should be .tax2024, not .tax_2024. This could have something to do with your problem. It looks like you either changed the file name or you are using the wrong file. Note that you cannot open a 2024 file in the 2025 software. You can only transfer the data from 2024 when you first start your new 2025 tax return. You have added on to a long thread that is nearly a year old and is only superficially related to your problem. The details are entirely different. I suggest that you post a new separate question of your own. In your question, be sure to explain exactly what "refuses to load" means. Exactly what happens when you try to transfer the 2024 file? At what point does the problem occur? If you get an error message, what is the entire exact message? Do not answer these questions here. I'm just giving you a suggestion for what to include in your new separate question.  

I think you want to know how to enter a pension distribution reported on a Form 1099-R in TurboTax.    From the federal menu in TurboTax navigate to Wages and Income Find the Retirements and Social Security and choose  IRA, 401(k), Pension Plan Withdrawals Indicate that you did get a 1099-R statement if necessary Select how you want to enter your 1099-R statement (import or type in yourself) and enter your 1099-R information in TurboTax

The "Do Not File" watermark should disappear once the form is finalized. It also may appear if you printed your federal tax return before you e-filed it.   If you are using the TurboTax Desktop, you will have to update your software once the file is finalized. If you are using TurboTax Desktop, you can manually check for updates for  your TurboTax program by clicking on "Online" in the black bar near the top of your screen and selecting "Check for Updates."    In the meantime, you can get the forms by clicking here.     Click here for Why does DO NOT FILE, FORM NOT FINAL appear on my printouts?   Here is information for mailing your 1040 ES.IRS - Where to Mail 1040-ES   Click here for Instructions to Form 1040 ES   Please return to Community if you have any additional information or questions and we would be happy to help.  

@DaveF1006 The OP doesn't mention whether the dividends are qualified or not, but under various tax treaties, many foreign dividends are considered qualified, and therefore eligible for a lower tax rate.  If you report  qualified dividends under "Other Taxable Income" won't you miss out on that tax savings?   See this link for more info about how foreign dividends become qualified by tax treaties:  https://www.irs.gov/pub/irs-drop/n-24-11.pdf The list of countries in that document would include most of the world's biggest banks, so it may be applicable in the OP's situation.

Yes, you can contribute to an HSA.  You don't have to have earned income to contribute to an HSA.  You can make contributions if you are retired, unemployed, or have no income, as long as you are covered by a qualifying High-Deductible Health Plan (HDHP), are not covered by Medicare.  You cannot be claimed as a dependent by someone else.  If you are contributing for 2025 it has to be done by April 15, 2026 with NO extensions.     The 2025 annual contribution limits are $4,300 for self-only and $8,550 for families.  For 2026 they are $4,400 for self-only and $8,750 for families. Catch-up contributions for those aged 55+ remain $1,000.

@ reynoldsn8 wrote:"Turbo tax says that a simple return (1 w-2 with a standard deduction is all on it) is free (no charge). 'm filing a simple return but turbo is charging a fee of $88."   So does that mean you haven't yet paid and continued to file?  If you haven't paid, you may be able to downgrade as I'll mention below.     BTW, the number of W-2's doesn't matter.  Free Edition can handle multiple W-2's if the filer is otherwise eligible for that edition.   TurboTax Free Edition can be used for a simple Form 1040 when there are no additional forms and no schedules except for Earned Income Tax Credit, Child Tax Credit and Student Loan Interest.   You can try to downgrade to Free Edition, but if there is something in your return that requires a higher edition, it will ask you to upgrade again.   The following FAQ tells how to use the "Switch" method.   Another option is the "Clear and start over" method, about which there is a link in the bottom of the FAQ below.   FAQ:  How do I downgrade to a different Online TurboTax product? https://ttlc.intuit.com/turbotax-support/en-us/help-article/change-service-level/downgrade-lower-priced-version-turbotax-online/L2IDaMvkt_US_en_US

The XX is for the non-MD income. The nonresident information is separated from the resident on that form. You would know because on the screen, it asks for the amount from the various states.  You can select just your state and "multiple states" (the bottom option) as the two entries. [Edited 2/25/2026 | 12:07 pm PST)  @user17705877982 

Thank you for your input, @AmeliesUncle .  I agree there are some intricacies about when a Form 4562 is required vs recommended to track ongoing depreciation deductions from year-to-year.  There are assets related to both properties (Property A & Property B) that are being depreciated, and that depreciation is being deducted separately for each property on Line 18 of the Schedule E.  TurboTax online is generating a single Form 4562 for Property A.  There has not been an explanation for why one Form 4562 is being provided but not the second Form 4562.  Would it be required/included for just one property for some reason? Neither property had assets placed in service in 2025.  The AI assistant stated that a single Form 4562 would be provided that includes depreciation for all (both in my case) properties.  That is not the case in my review draft--only Property A data is included.  I hope someone can provide an explanation or a remedy.   Alternatively, can someone answer the TurboTax online interface question about whether or not I can manually add tax forms prior to filing? Or if a technician can do that for me?  The Form 1040 indicates that it is "Self Prepared," so that seems like a reasonable request if TurboTax takes no responsibility for the returns.   Thanks for the help!

@skijohn877    1) You cannot get it if you are preparing a  married and filing separately (MFS ) tax return.   2) It also won't show up if, in the Personal Info area, if you checked a box near your SSN indicating that the your SS Card indicated it was Not Valid For Employment.  Go back and edit your Personal info to make sure that box is not checked....(Unless it is true...in which case you are not eligible for the $6000)

The Tips deduction question applies to both TurboTax Desktop and TurboTax Online.   After you complete the W-2 information you will reach a screen:  'Let's check for other situations', select the checkbox next to 'Tips not reported on my W-2'.  Once this is completed TurboTax will walk you through the remaining questions about your tips.  The next screen is 'Now let's enter your unreported tips'. What's the new tax law for for tips? No Tax On Tips: How it Works in the One Big Beautiful Bill @Gatto0811