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Taxed in 2026.  Whatever year you take it out.  If you had taken it in 2025 it would go on your 2025 return.   You could have taken it anytime in 2025 before you turned 73.   If you take it in 2026 don’t forget you still will have to take the 2026 RMD.   So you will have 2 distributions to take in 2026.  

@user17591775237 wrote: "At this time, I advised that there is no alternative deductible tracking solution currently available." Yes, NOT FROM INTUIT. Of course, there are other tracking solutions available from other developers.   For whatever reason, someone in authority here chose to delete the links to those solutions. Not sure why they would delete links to mostly free products that they no longer offer.

Yes, assuming you are a US Citizen or Resident Alien you would be taxed on your worldwide income regardless of India taxation.  Publication 575 indicates annuity payments received less premiums paid are US taxable income.  Had India taxed the income you could claim a credit for foreign taxes paid.  You will enter the income as if you received a 1099R for the annuity payment in the "Wages and Income" "IRA, 401k, Pension (1099R)" topic (Steps below).    It appears you would use the "General Rule" to determine the taxable portion of your annuity.  Publication 939 has the steps to make the calculations for your specific situation.  You will need to figure the Expected Return and then the taxable part of your annuity payments.     Select "Wages and Income" from the menu Start "IRA, 401K, pension (1099R)" topic Enter address of payer (use foreign address button if needed)  Enter a generic FED ID such as 22-2222222 (to allow e-filing) Enter the gross distribution amount in box 1 Enter the taxable portion of box 1 into box 2 per your calculations from Publication 939 Enter the non-taxable contributions (difference between boxes 1 and 2) into box 5 from your Publication 939 calculations Enter Code 7 and Code D into the box 7's Continue  This will make entries on lines 5a and 5b on form 1040 for pensions and annuities.

Deluxe has them.   All the Desktop programs have the same forms. You just get more help and guidance in the higher versions. BUT all the programs have not been updated yet for them to allow entering using the step by step method.    You can use the Forms Mode to enter sales.   You don’t directly enter the Schedule D.   You need to enter the 1099 forms you get for investments.   

Schedule D and Form 8949 will not be available until 01/06/2026. Go to this TurboTax website for forms and schedule availability - https://form-status.app.intuit.com/tax-forms-availability/formsavailability?albRedirect=true&product=Turbotax_online&bu=cg   To enter an investment sale - Click on Federal Taxes (Personal using Home and Business) Click on Wages and Income (Personal Income using Home and Business) Click on I'll choose what I work on (if shown) Under Investment Income On Stocks, Cryptocurrency, Mutual Funds, Bonds, Other, click the start or update button   Or enter investment sales in the Search box located in the upper right of the program screen. Click on Jump to investment sales

This is the reply I got from turbotax:   ello Dan, I am reaching out from TurboTax Customer Care on behalf of Intuit’s Office of the President. I am one of the specialized agents assigned to assist you. Thank you for taking the time to speak with me today. I am glad we were able to discuss your concerns in detail. As a recap of our conversation, we reviewed the discontinuation of the Its Deductible product and the frustration this has caused, particularly given your need to track multiple charitable contribution transactions and prepare for upcoming tax law changes. I acknowledged your feedback and confirmed that your concerns will be escalated to Intuit leadership for visibility and review. At this time, I advised that there is no alternative deductible tracking solution currently available. You also shared that, due to this change, you are considering using a different tax preparer that continues to offer a similar feature. If you need assistance in the future, please contact TurboTax Customer Support at 1-800-446-8848. Since your concerns have been addressed and documented, we will proceed with closing your case. Thank you for being a valued TurboTax customer. Respectfully, Shonda J TurboTax Customer Care

Besides the What-If worksheet you can just start a new return to test in.  The Desktop program can do unlimited returns.  Go up to File-New and it will first save your current return.  I have many test returns to help answering questions on mine.     Here’s an earlier post about the 2025 What-If worksheet not calculating the new Senior Deduction right TT2025 What-If not applying the new Senior Deduction

The $6,000 senior deduction will be calculated on 1040 Schedule 1-A page 2 Part V Enhanced Deduction for Seniors which goes to 1040 line 13b. It is separate and in addition to the Standard Deduction or your Itemized Deductions on 1040 line 12e.  Turbol Tax automatically includes it. IRS Schedule 1-A https://www.irs.gov/pub/irs-dft/f1040s1a--dft.pdf

there are two basic accounting methods. the IRS requires that the accounting method used clearly reflect income. Cash method - income is recognized when received and expenses are deducted when paid. Accrual method income is recognized when the buyer gets title and expenses are deducted when incurred.    the cash method is available to taxpayers (other than tax shelters) that have gross receipts of less than $31million for 2025, regardless of whether the purchase, production or sale of merchandise is an income-producing factor IRC 448(c). In addition, such taxpayers are not required to account for inventories under IRC 471. instead you treat inventories as an expense not reported in the cost of good sold section.      some taxpayers, even if not required, use the accrual method to balance revenue with the related expenses.  thus in your situation, you would record as revenue 100% of the sales price of items delivered on or before 12/31/2025. you would complete the cost of goods sold section and report 100% of the cost of those items .     you can not change method from year to year without filing Form 3115 - change in accounting method. 

Paperwork received does not clarify tax treatment on this class action distribution. What is the most conservative method to report? Just do 'Misc Income', and can you do that if you don't receive a 1099? 

installing W11 on W10 results in the entire drive being wiped. A new registry is created which contains nothing from the W10 registry.  if it's within 10 days of upgrading to w11 there is a procedure to revert to w10. if you want to go back see this https://support.microsoft.com/en-us/windows/go-back-to-the-previous-version-of-windows-4fdf8a9e-ddc9-4f65-971f-47e7debab6e1   

MY UPGRADE NOTES All my programs back to and including 2019 open and run.  I did have a problem getting 2024 to update.   So ended up having to reinstall 2024.  It didn’t ask or tell me I needed to use Cloud storage or backup or OneDrive or sign into anything online.   One Drive wasn't activated.  I wasn't using it in Win 10 and it stays empty on Win 11.   And I’ve never set up a Microsoft account.      Here are my notes…….   6/12/25 I updated my Windows 10 to Windows 11. Had trouble getting Turbo Tax 2024 updates (my 2023 program updated ok). Got error 1603. My Windows was updated. Tried lots of things, turning off A/V, restarting many times, clearing cache & cookies, updating Windows, etc. Got stuck with MS Net Framework. I seem to have Net 6 under Program Files (x86) instead of Net Framework 4.8. So I finally decided to uninstall TT and reinstall. Went to Settings-Apps-TurboTax 2024 and uninstalled. 6/15/25 Sunday. Logged into my Intuit Account - Products and downloaded 2024 again Windows_PC_TurboTax_Download (2).exe 409,926 kb. My first download was 1/3/2025 363,627 kb Installed it. It never asked for my License Code or to download my state. After it installed, it didn't automatically start so I clicked on the Desktop Icon to start. It asked me if I wanted to update. I did and it only updated California (to release 5/8/25). I think the new download had the current federal updates. All my returns were listed and opened.

  You have to access your own account and/or  print it for yourself using exactly the same account and user ID that you used when you prepared the return.    https://myturbotax.intuit.com/   Start a 2025 return online and enter some personal information  so that the menu on the left opens up and lets you access your past year returns.   https://ttlc.intuit.com/community/prior-year-return/help/how-do-i-access-my-prior-year-return/01/27010     https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US?uid=m5y4ch1y   Many people have multiple TT accounts and forget how to access them.  Log out of the account you are in now.     https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/many-intuit-accounts-turbotax/L9aVfKS1Z_US_en_US?uid=ll5g6zcx Account Recovery     Or did you use the desktop version of TurboTax?  If so, the files are on your own hard drive or any backup device you used like a flash drive.     hhttps://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/find-last-year-tax-data-file-tax-file-computer/L0XJvPaJr_US_en_US?uid=m6gufxei     https://ttlc.intuit.com/turbotax-support/en-us/help-article/data-systems/find-tax-data-file-mac/L4VNGm33S_US_en_US?uid=m6guhab0 You can get a free transcript from the IRS or for a fee of $30, an actual copy of your tax return. https://www.irs.gov/individuals/get-transcript https://www.irs.gov/pub/irs-pdf/f4506.pdf       SAVE YOUR TAX RETURNS ! EVERY year before mid-October you should save a copy of your tax return as a pdf and print a copy of it for your records.  That way you will not be searching online frantically when you need it for a lender, FAFSA forms, your next tax return, etc.    https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US?uid=m6guj526   https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-2021-turbotax-online-return-pdf/L8dHfRkpT_US_en_US?uid=m78eb8pc In order to transfer a past year return to the new return you need the tax file   https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/save-turbotax-online-return-tax-data-file/L4xwOG3LF_US_en_US?uid=m6guk3xl   NOTE:  TurboTax and the IRS save returns for seven years.  Returns older than seven years are purged.    

Thanks for your response. I received a paper notice dated 12/15/2025, Notice: CP28A. It doesn't say any details relating to the return other than the following.   "Our records show you claimed too large of a Home Mortgage Interest Deduction on Schedule A of your 2024 Form 1040 tax return. Review and fix any incorrect home mortgage interest claims. This may help you avoid additional interest or penalties. There are limits to the amount of mortgage interest you may deduct. Home Mortgage Interest Deduction is limited by your mortgage size (outstanding mortgage amount) and date (loan origination date). You may only claim an interest deduction for a mortgage amount up to $750,000 (for mortgages dated after December 15, 2017)."   My mortgage originated in 2022 at 757,400 and was transferred to another lender on Apr 5 2024 so I've got 2 1098 forms for 2024 and entered both.   First 1098: Box 1: 10,875.83 Box 2: 776,999.76 Second 1098: Box 1: 32,403.45 Box 2: 742,571.10   Tax return Schedule A box 8a: 43,279   (my 2023 1098 from the same lender had box 2: 755814.65 which is interesting to me increasing in 2024, but thinking it might be related to COVID related deferral of 6 months payments around 31k total)