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I have about 12 K1s from real estate investments. The rental activity nets to a loss. Turbo tax is taking that against my other income. They are passive losses so that is incorrect. Turbo tax no longer has the question do I participate materially so that it would know to limit my losses to my income and carryover the rest. They are not flowing through to a schedule E and therefore not to a form 8582.  I have put all the income and losses for each investment into line 2. I even had a Turbotax Expert on the phone for an hour and they can't figure it out. 

I completed my draft 1040 but wanted more time to double check everything, so I didn't file by 4/15/26. I did however make a "balance payment" for the draft amount of what I owe on time directly to the IRS online. Let's say that amount is $1000.   When I realized I wanted to take more time to go over everything and not file on/by 4/15/2026, I also made a $1 extension payment on 4/15/26 to initiate an automatic extension so I wouldn't have to file the extension form separately just to be safe.   Let's say the original computation of how much I owe will remain the same, except for the extension payment, so I potentially overpaid by $1.   Moving forward, what is the correct way to modify my 1040? Do I enter $1 for an extension payment, and then my total owed federal tax on the 1040 should appear as $999?   Any other foreseeable issues I should address? Thanks

I posted a note yesterday (with a token #) ... it seems to have disappeared.  Perhaps this is a better thread - it has 2026 issues (for TY2025) on it. Appears this 5805 situation is a recurring issue, going on at least 3 years now. For us, this is 1st time having to file 5805, so no personal experience with it.  Our situation: 2025 was 1st year we were required to pay quarterly.  Didn't realize it, didn't pay, so necessity to file 5805 this year - and pay penalty - is correct.  (That's on me, my bad.) But given that, some number on the form are questionable, unexplained, and I cannot reproduce them manually. Specifically: Part II. I can reproduce manually values for Lines 1-6, same as TT.  From there, however, TT is blank all the way to Line 13, where a penalty number appears out of nowhere, unsubstantiated. My manual calcs also result in a (different) number for Line 13 ... but I cannot get there without the numbers for Lines 7-12 - all blank in TT, so I have no way to even try trace its steps.   Part III. All number appear here, so at least I can follow along, pretend to keep up, sort of. Worksheet II. For part I (Figure Your Underpayment), there are number to follow. For Part II (Figure Your Penalty), all numbers are blank ... except for Line 14, where magically reappears the same unsubstantiated, unreproducible number that showed up earlier. I would like to see TT provide *some* substantiation/justification for the penalty calculation for both parts. Token ID is 1[phone number removed]4301.