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I have the same question, but am using Turbotax Premier 2025.  The data showing in Turbotax for K-1 Partner's Capital Account Analysis (Section L) s the same as was shown in the 2023 K-1.  It does no... See more...
I have the same question, but am using Turbotax Premier 2025.  The data showing in Turbotax for K-1 Partner's Capital Account Analysis (Section L) s the same as was shown in the 2023 K-1.  It does not match the current 2025 K-1. Nor the 2024 K-1 for this partnership.  Do I need to update the numbers in L Partner's Capital Account Analysis in the 2025 K-1 in Turbotax? The numbers on the 2025 K-1 are different from the numbers in Turbotax Premier for this partnership.  The Turbotax Premier dialog does not address Section L, Partner's Capital Account Analysis.  Does it matter?  Want to avoid questions from the IRS when I submit my taxes this year.   Would appreciate a quick reply as I'm nearly ready to file my 2025 taxes.   Thanks veehbj  
Yes the program seems to get the right answer.
I'm paying for expert help, but I don't seem to be getting any. So much for TurboTax.
Can I still use NRA in my spouse's SSN field even she is resident alien via substantial presence test, under married filling separate?
Can I contribute to an SEP to reduce taxable income if I am collecting benefits from a pension plan, have W-2 earnings from a part-time job that also contributes to a qualified plan (Box 13 on W-2) a... See more...
Can I contribute to an SEP to reduce taxable income if I am collecting benefits from a pension plan, have W-2 earnings from a part-time job that also contributes to a qualified plan (Box 13 on W-2) and I am the sole member of an LLC earning 1099-NEC wages?  If so, in calculating how much a deduction would be reduced by, are only the W-2 and 1099-NEC wages counted?  The combined amount would be between 29 and 30k.  I am a single filer.  Thanks. 
No.  That is not a valid medical expense, if it was not prescribed by a licensed medical physician.
It will not let continue unless I fill in the values on a form (1099-k which I did not receive so I cannot continue  
My 2025 RMD came from 2 separate accounts, as was determined by my financial advisor. One check (~$12K) was deposited in 12/2025. The other check (~$9K) was not deposited until 01/2026.    But... m... See more...
My 2025 RMD came from 2 separate accounts, as was determined by my financial advisor. One check (~$12K) was deposited in 12/2025. The other check (~$9K) was not deposited until 01/2026.    But... my 1099-Rs for 2025 add up to the correct amount for total RMD due before 12/31/25, so it looks as if I received all my RMD.   What, if anything, do I need to do with all this for my 2025 tax return?   Thank you!
Ok, thanks for the explanation.  When I roll over the $65K pre-tax amount and leave $15K, which I then convert to a Roth, Form 8606 will take care of this — that makes sense. A few other questions ... See more...
Ok, thanks for the explanation.  When I roll over the $65K pre-tax amount and leave $15K, which I then convert to a Roth, Form 8606 will take care of this — that makes sense. A few other questions came across: If I complete this transaction before December 31 and effectively empty my IRA account, do I need to wait until January 2026 to do a backdoor Roth for 2026, or can I do it right after completing this? For a backdoor Roth, how long do I need to keep the money in the traditional IRA before converting it to Roth? On the tax return for 2026, do I just report the traditional IRA contribution? If I do a backdoor Roth, will the tax documents essentially net to zero (e.g., $8,600 after tax contribution and $8,600 conversion resulting in no tax)? Also, I have a SEP IRA. Is it allowed  to roll the $65K into the SEP IRA instead of 401k? Is that even possible? And does having a SEP IRA create any issues for doing a backdoor Roth?
Thank you I will try the quick fix to get the print out. The print out is not the only concern as the program input is not working correct either. Once you put the husbands income in first it gets ch... See more...
Thank you I will try the quick fix to get the print out. The print out is not the only concern as the program input is not working correct either. Once you put the husbands income in first it gets changed as soon as you put the wife’s income in second on her separate listing. 
I am a transgender woman. I pay a voice coach for lessons to make my voice sound feminine. Is the cost of these lessons deductible as a medical expense?
Once a tax return has been Accepted by the IRS or a State, TurboTax receives no further information concerning the tax return or the status of any tax refund.  Only the taxpayer listed on the tax ret... See more...
Once a tax return has been Accepted by the IRS or a State, TurboTax receives no further information concerning the tax return or the status of any tax refund.  Only the taxpayer listed on the tax return can obtain the status of a tax refund or a tax return.   As stated by the IRS, once you have verified your identity it may take the IRS up to 9 weeks to issue a tax refund.
I am a beneficiary of part of my mother's estate. The Schwab account was setup in Pennsylvania. I am a fulltime Florida resident.