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Thanks again!  Option 1 is what I had selected, and the one that results in taxing the entire amount.  But based on your description that it should align with "NOT being an IRA" -  it seems like the 1099-R selection (Option 1) is NOT the one I should select, as it specifically calls out IRAs?  I've included the selections that TurboTax provides, along with the added description shown on the screen. 1) Financial institution or other provider (1099-R). Retirement plans like 401(k)s, IRAs, pensions, annuities, etc. (Most common) 2) Office of Personnel Management (CSA 1099-R). For U.S. Government Civil Service retiree annuity 3) Office of Personnel Management (CSF 1099-R). For U.S. Government Civil Service survivor annuity 4) U.S. Railroad Retirement Board (RRB 1099-R). For annuities or pensions The deceased was not a government employee, so 2 & 3 don't seem to make sense. And they didn't work for the Railroad. The form itself only says 1099-R and the IRA/SEP/SIMPLE is not checked. Any other insights are appreciated!  Thx!

Are you the custodial parent? If not, and you have a Form 8332 or agreement with the custodial parent, this allows you to claim the child as a dependent and get the Child Tax Credit, but not the ability to claim Head of Household or Child Care Expenses. Head of Household and Child Care Credit is only available to the custodial parent.

Did you buy, then sell, a publicly traded partnership?  If this is the case, you received both the final K-1 and the IRS form 1099-B entry from your broker.  You may have reported the sale of the PTP twice.   The sale can be reported through the K-1 screens or through the 1099-B entries.     Be aware that if:    At the screen Describe the Partnership, you report Disposed of a portion of my interest.... and At the screen Tell Us About Your Sale you report Sold Partnership Interest, the sale is being reported.  You would not report the sale on IRS Form 1099-B Proceeds.    Within the K-1 entries,    at the screen Describe the Partnership, select This partnership ended in 2022, and  at the screen Describe Partnership Disposal, select No entry. In this case, you would report the sale on IRS Form 1099-B Proceeds.    Make sure that the sale is not reported twice.  Review the sale of the investment reported on IRS Form 8949 Sales and Other Dispositions of Capital Assets and IRS Form 1040 Schedule D Capital Gains and Losses.    To report the sale through the IRS form 1099-B entries, select Add investments under Investments and Savings and Stocks, Cryptocurrency, Mutual Funds, Bonds, Other.    You are able to view the entries at Tax Tools / Print Center / Print, save or preview this year's return.  

When uploading multiple crypto investments in TurboTax Online, follow these steps to help avoid issues with sessions and uploading documents: 1. Upload crypto transactions under the Investment Income section: Go to Wages & Income, then Investments and Savings, and select Start next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B, 1099-DA). 2. Use the cryptocurrency upload option: On the screen asking about investment income, select Yes. Then you can import directly from exchanges or upload CSV files. 3. Avoid uploading PDF files for crypto: TurboTax no longer supports gain/loss PDF uploads. Instead, use CSV transaction files from your exchanges or wallets for accurate reporting. 4. Clear browser cache or try a different browser: This can prevent session rollback and saving issues. 5. Save your work often: After uploading some files, save and allow TurboTax to update before continuing with more uploads. If digital assets are showing connected without documentation, it may be due to incomplete uploads or synchronization problems. Carefully review the investment overview screen to verify the accuracy of imported data.

For an excess Roth contribution, both the contribution and the associated earnings on the contribution can be removed by the tax filing deadline in order to eliminate the 6% penalty on the excess contribution.  The earnings from the excess contribution are taxed as ordinary income.  The 10% penalty on the earnings for someone under the age of 59-1/2 can be waived using "excess Roth earnings removed by the return due date" rule.  

Yes. If you are a U.S. person (citizen or resident alien) and your daughter is your dependent, her Canadian bank account is considered a foreign account that may need to be reported to the U.S. government.   Whether you personally have to report it depends on how much control you have over the account and how you file your taxes.   The FBAR is required if the total value of all foreign financial accounts exceeds $10,000 USD at any time during the calendar year.   Your Daughter’s Requirement: Even a minor child is technically responsible for filing their own FBAR if they meet the threshold.  If you are a joint owner or have signature authority (the ability to control the funds) over her account, you must also report that account on your own FBAR, even if the money isn't yours. Parental Responsibility: If your daughter cannot file her own FBAR due to her age, you (the parent) must file and sign it on her behalf. Here is the link to file the FBAR if you meet that $10,000 threshold.  In addition to the above, you may need to file form 8938 if the account exceeds $50,000 on December 31 or if the value exceeds $75,000 at any time during the year. ($100,000/$150,000 if Married filing Jointly, but I doubt if your daughter is married if she is your dependent)   Form 8938 is a form TurboTax supports and can be efiled with your return if you have a filing requirement based on the filing threshold amounts I just mentioned.                        

To enter a Form 1099-MISC that is not for self-employment - Click on Federal (Personal using Home & Business) Click on Wages & Income (Personal Income using Home & Business) Scroll down to Other Common Income On Form 1099-MISC, click the start or update button  On the screen Did you get a 1099-MISC?, click on Yes On the screen Let's get the info from your 1099-MISC, enter the amount received in box 3 and continue On the screen Describe the reason for this 1099-MISC, enter a reason and Continue On the screen Does one of these uncommon situations apply? - Select None of these apply and continue On the screen Did the (reason) involve work that's like (your name) main job - Select No and continue On the screen How often did (your name) get income for (reason) - Select 2025 and continue On the screen Did the (reason) involve an intent to earn money? - Select No and continue The amount entered from the Form 1099-MISC will be entered on Schedule 1 Line 8z The total from Schedule 1 Part I Line 10 flows to Form 1040 Line 8

The best approach to enter your Section 1256 Option contracts is to start with the step below and continue with steps provided above: TurboTax Online or TurboTax Desktop: Search (upper right) > Type Form 6781 > Click the Jump to... link  Answer 'Yes' to 'Any Straddles or Section 1256 Contracts?' On the next screen, it is highly unlikely that you need to make any elections, so just click Continue On the screen with 'Contracts and Straddles', more than likely you only need to select Section 1256 contracts...   Select 'I'll report the totals from each broker or account.' Enter the information to report your profits and losses from your Section 1256 Options transactions.   Review the information provided by both of our tax experts @DavidD66 and @DaveF1006.   Note: Section 1256 contracts are IRS-regulated financial instruments—including futures, non-equity options, and dealer equity options—that receive special 60/40 tax treatment. They are marked-to-market at year-end (treated as sold on the last business day) and taxed as 60% long-term and 40% short-term capital gains, regardless of holding period.   @atn888 

i have only been using TT Desktop. I am assuming the procedure is similar?   Also, noticed i have been asked for license again trying to open 2024. I am assuming the SSD upgrade i did to have more storage available to use TT Desktop is an issue. I cannot go back to the old SSD due to lack of space available. is there a help number to get 2024 and 2025 re-activated?

To determine the tax treatment, we need to know a number of things:   1. I want to confirm that you each had an HSA. 2. What was your HDHP coverage for each of you in each month? Especial, what was your coverage on December 1, 2025? 3. Did either of you have FSA coverage after you were married (congrats, by the way)? Any other coverage? 4. Are either of you 55+? 5. The medical bills paid for with HSA funds will be reported on a 1099-SA, and should be tax-free, as you said. 6. P.S. you can retain your separate HSA accounts even after marriage; there is no such thing as a Joint HSA, even if you have HDHP Family coverage.

How did you end up rectifying it last year? It is getting down to the wire here and I'm starting to get nervous. I've been at this for almost two weeks and I'm still hung up trying to get turbotax (which I have used for years without issue) to generate these prompts and the appropriate forms. It is the only thing I have left to do.  If I can't get this resolved, I'll have to resign myself to starting over with a different tax software program.

Your IP PIN is on the letter that you received from the IRS.  If you no longer have it, you can get it from the IRS, on your IRS account if you have one, at the Get an IP PIN site, or by calling them at 1-800-908-4490.   How do I get my 6-digit IP PIN?

If box 16 is blank (empty) or has a 0 entered then enter the amount from box 1 into box 16, state distribution, so that you can e-file the tax return.  The state distribution does NOT flow to the state income tax return.