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When you enter one taxable transaction, you can't just watch the monitor.  You increased your overall adjusted gross income and with that come many other changes in your return, not just the incremental tax on the one transaction.   Like for example it increased your AGI and that would decrease some deductions if you itemized on Schedule A.  And by increasing your AGI it might reduce some credits you were getting like EIC.  And can make more of any Social Security taxable.   You would have to compare both returns line by line before and after you entered the income to see all the changes.

Yes, you claim the child as your dependent. You will see an option in TurboTax to indicate that the other parent gave you permission to claim the child this year when you enter the dependent information.

The state you live in taxes all income worldwide but will give you a credit for tax paid to another state. Prepare your out of state return first. Then prepare your resident state.   The credit will be the lower of the state tax liabilities on the same gross income. You may owe your resident state,  if they have a higher tax rate along with differences in how the taxable income is calculated.

To amend a return you did somewhere else or you don't have the original.tax file,  you would first have to fill out Turbo Tax like you are doing the original return and pay for it.  You have to recreate the actual wrong original return.  Then when it matches each line that you really filed you have to tell Turbo Tax you will mail it so it thinks it was filed.  Then you can amend it.   For the current year you can use the online version by first recreating the original return exactly as filed.  Then pay the fees and say to mail it and print it out so it think you filed it.  Then when it matches every line you can amend.

I just said that I entered my student's scholarship info without triggering taxes, when it applied to the tuition only.  Well, after I clicked away and back, it turns out TurboTax has decided her scholarship is taxable, which it is not. I will need to enter her 1098-T into TurboTax to avoid that issue.

The form 8606 stands alone. You can correct it and mail it in. Send a separate one for each year needed. Be sure you sign and date the bottom of the forms. Be sure to carry that basis forward.    Caution: If you filed other 8606 forms since then, you will need to redo them with the correct basis and send them in. On any 8606 forms already filed, you will need to write amended across the top.   Reference: Prior year IRS Form 8606

Hi @MelindaS1 , if I uncheck the "Gulf Opportunity Zone" box, then I cannot claim the 50% Special Depreciation Allowance which I need to and have done so in past tax filings. The related rental property is in Texas and qualifies for Rita GO Zone.   Thanks

To transfer last year’s return into your 2025 TurboTax return, sign in and start your 2025 return. TurboTax will automatically prompt you to transfer your 2024 data if it’s in the same account (email address).