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If you K-1 ending percentages aren't printing the values that you've input, it's most likely because the items of income, expense, and distributions aren't being allocated properly to that partner for the software to calculate the ending balance that you want.    Revisit the Partner/Member Summary and the Member Capital entries, and make sure the values you've entered for beginning and ending capital actually equal the % share of the partnership total that ties to the face of the partner's K-1.    Ensure that the beginning capital that partner starts with +/- any income received +/- any distributions or withdrawals taken, actually = the final % you want to see on the face of K-1.    On the screen that says Basis Adjustment Election, make sure you've selected Yes, there was a distribution of property or a transfer of partnership interest so that the program knows that there needs to be an adjustment in the partner ownership %'s, and follow the prompts to enter those transfer details.    You'll likely need to input those same Basis Adjustment details in both the federal and state input menus. Ensure that both have been entered mathematically and completely.     

If you purchased materials for your business at Home Depot, you generally enter those costs under Supplies if they are consumable items used in your business operations. In TurboTax Online, go to the Schedule C section under Wages & Income. Then add these purchases as Supplies in the business expenses section. If the materials are part of your inventory or considered property for resale, you might categorize them under Inventory/Cost of Goods Sold instead.  

Yes, I received the token. The following are items I noticed in review. And all of the distributions are taxable on your tax return. The first 1099-R did not have a selection for taxpayer or spouse. On the screen 'What kind of retirement plan do you have...'. you must select 'Qualified plan....' which was not yet selected. The second 1099-R does specify spouse The third 1099-R also specifies spouse The fourth 1099-R did not have a selection for taxpayer or spouse Number 1 & 4 did not indicate any error even though the selection doesn't show on my end. Let's go over any required minimum distributions (RMDs) - both indicate no RMDs were missed. When I review the 1040, it does show the appropriate taxable amount for the IRAs and the Pensions. If you are using TurboTax Online you should do the following before you open your tax return to review again. Try clearing the cookies and cache.   It handles many issues that seem nonsensical on a regular basis with online activity. Watch to be sure you are selecting 'all time' as example.  Do not use selections like 'last hour' for those browsers that give  you options. How to clear your cache Once this is complete open your return and try again. If you are using TurboTax Desktop, save your return, then at the top select Online, then Check for updates. Open your return and review your Form 1040: From the left rail menu in TurboTax Online, select Tax Tools (You may have to scroll down on the left rail menu.) Select Tax Tools On the drop-down select Tools On the pop-up menu titled “Tools Center”, select View Tax Summary  On the left sidebar, select Preview my 1040  For TurboTax Desktop, change to 'Forms' and review the forms @owensrf            

Hi @RogerD1, I have a similar question I need help with figuring out how to file.  In 2025, just before filing for 2024 taxes, I opened a Vanguard Roth IRA and contributed the max amount $7000 for 2024, and $7000 for 2025 before filing, then a few days later when filing on TurboTax, realized that my income was too low and I was ineligible to do this. So Vanguard converted the Roth IRA to a standard brokerage account. I didn't receive any forms to submit regarding this, and was told by a family tax preparer to wait until filing for the 2025 tax year (I use TurboTax for myself though). In January 2026, I received a form 5498 for year 2024 stating a contribution of $7000 (which was not reported on my 2024 filing), and a form 1099-R for year 2025 with a gross distribution of $13815 (I'm assuming since the stocks in the Roth IRA fluctuated and devalued a tad in the few days they were in there).  So now I'm ready to file, and at the sections asking about IRA contributions for 2025, and asking about excess contribution withdrawals for 2025, what should I enter in these fields? Should I put $7000, $14000, something else? The account conversion from Roth IRA to standard brokerage took place in March 2025, before the 2024 taxes were filed.  Thank you

Related to above.... when I choose file an amended return, the Federal refund amount resets to 0 (which I believe is correct)  but the NY one does not.  I'm not sure that I have a "clean" copy of my original return at this point, i.e., I have forms IT 201-X pages 1-6 included.  I think TT already thinks the NY return was amended and I don't seem to be able to get it to  reset. Thoughts?  Thanks.

 The program does not support when someone other than the taxpayer (or spouse if married filing jointly) owns the Form 1095-A.    A workaround you can use is to enter the 1095-A, but do not select her name as the person who owns the 1095-A.  Just continue through.  Enter the policy number and such.  Then when you get to the review section, you will likely get an error on form 8962.  It should let you enter her name and SSN on the form.  Then you can continue through to e-file.  If it gives you a transmission error, you will need to print and mail the return.   

Thank you so much for taking the time to explain to me things in such good detail. This has been so helpful. I'm new here, and I don't mean anything by this, I just don't know what this forum really is. Are you and the others who respond tax people preparers?