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I really appreciate both or your responses.   I figured out that the 2026 standard deduction will be 16,100.   I also realized my Aetna premiums are about 14,400, and the out of pocket maximum for the Aetna policy is 4000.  Sadly, I see myself easily spending the 4000, then they cover 100% of your medical claims for the year after that.  So that comes to 14400 + 4000 = 18,400.   I can also itemize about 1500 more for acupuncture treatments.   So itemized deductions is showing as like 19000 and if I use funds from my traditional IRA account and have to pay the taxes it reduces my refund from 4700 to 1500.   That might be worth considering paying more taxes now before the tax rates go up in future years?   Thoughts?

Also received a Schedule K 1 showing the amount of the capital gain on line 9a and the amount of the exclusion on line 11 code O.   Both can now be entered in turbotax home and business 2025.   The amount on line 9a still flows through to line 12 on schedule D.  The exclusion from line 11 doesn't seem to be carried anywhere else and the amount on line 12 on schedule D is not reduced. Am I doing something wrong?  The IRS also requires entering the information on form 8949 where code Q can be used to indicate the exclusion.  Since the inclusion of line 11 from schedule K1 doesn't seem to flow through to the other forms, should the amount of line 9a still be reduced by the amount of the exclusion, so that it is not reported twice?  In the answer you mentioned it doesn't matter but will the discrepancy between what is reported on line 9a versus what is reported on line 9a in the partnership K1 submitted to the IRS be a problem?   Thanks for your help

If the amount does not appear on line 36 of TurboTax's IRA Information Worksheet, it would seem that you have not properly told TurboTax that this was rolled over to a Roth IRA.   I assume that the Form 1099-R has code G in box 7 and the IRA/SEP/SIMPLE box is not marked.  When entering this form, make sure to answer No when asked if this money was rolled over to a Roth 401(k), Roth 403(b) or Roth 457(b), then answer Yes when asked if you rolled the money over to a Roth IRA.

Thanks LeticiaF1 I tried importing from E*Trade from my Turbo Tax Premier Desktop again after installing all updates, but got the same error. Could it because my E*Trade accounts are closed? Also, appreciate your suggestion on the easiest and least manual way to go about if Turbo Tax Desktop doesn't support import of closed accounts. Thanks again! Something’s not working         We didn’t find the right account types to connect at this provider. We can connect to E*TRADE from Morgan Stanley but can’t find the right kind of accounts. Select an account at a different provider. (106)

Any suggestions on how to fix this in the case of a short term rental partnership with material participation?   K-1 income/loss is correctly reported in line 2 but software refuses to treat is as active income/loss despite checking boxes for material participation and active trade or business. Very frustrating  

That's just so it can be used to enter the 2025 W2 info if you have the same job in 2025.  Or you can delete them and enter 2025 W2s from scratch.  If you  don't have the same joba and W2 in 2025 then delete them.