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Investing

I sold some BRK.B this year at Charles Schwab

I sold some BRK.B at Charles Schwab this year. As such, I would expect the sale to appear in the 1099 from Schwab, which it does. I imported the data into TurboTax and looked at the generated tax return. It does not show any sale of BRK.B. It is poss... read more

Cannot File Tax Return — 1099-R Qualified Disaster Distribution Error (2025)

After doing multiple uodates in previous weeks and doing the last one this past Thursday 02/19/26, I’m still unable to complete my tax return because TurboTax Desktop is blocking filing in the Qualified Disaster Distribution worksheet after entering ... read more

Small amount foreign tax credit without Form 1116

I received $29 Nintendo ADR with $4.4 foreign tax withheld reported on 1099-DIV. That's my only foreign income. Based on the US-Japan treaty, Portfolio Dividends (Individual Shareholders) is typically subject to a 15% reduced tax rate. I believe that... read more

Robinhood event contracts

Does anyone know exact process to report robinhood event contracts on turbo tax online?

Cannot enter explanations in Line 52A of Form 5329T

For my Beneficiary IRA I did not withdraw a sufficient amount to meet my RMD for 2025. I found the error today Feb6, 2026. I filed out a form 5329T form and asked for a waiver. selected explanation button. When I entered text of the first line, it di... read more

Giving up small amount foreign tax credit

I have a foreign stock ADR with $30 dividend and $4 foreign tax withheld reported on 1099-DIV. That's my only foreign income. If I don't want to deal with Form 1116 or Form 1040 schedule 3, is it allowed to just keep the $30 in total dividend but ent... read more

Turbotax vs ProConnect for Complex K1s

I am considering Private Equity investments, but I fear that the K1s will be complex and as a Do it yourself filer, I feel I will have to rely on a CPA going forward just for this single investment into a PE fund. The fund could take 7-10 years to ha... read more

Under Traditional IRAs I Cannot enter "Value of your traditional, SEP, and SIMPLE IRAs on December 31, 2025"

TT will not accept any entry into the subject box. It will permit entries into the other boxes on this page however.What can I do?

1099R for QCD

FYI - Just got my 1099R from Vanguard for a QCD. They didn’t use code Y in box 7. Only code 7.

Limits for investing in a traditional IRA (not for a tax deduction)

Good morning, I've recently read on Vanguard (and others) that there is no limit for investing in a traditional IRA. You may not get a deduction, but you can still invest and earn interest free income until retirement. I max out my 401k, it would be ... read more

Non Covered Long Term Investment Entry (Add 0 (zero) Col "g"?

Turbotax Desktop:1) I believe I saw somewhere that when entering Non Covered Long Term Investments, no adjustments on Form 8949 that 0 (zero) needs to be entered in column "g" in order for TT to accept. Is that true?2) If above is true are there any ... read more

Traditional IRA to Roth IRA conversion

My wife are cannot contribute to Roth IRA (due to high MAGI). So we decided to put in $7000 each to our respective Traditional IRA accounts in fidelity. Both of us are maximizing our 401(k) contributions through our employers. 1. I did not had a trad... read more

How to report sales with no 1099-B form from overseas brokerage

I am using a desktop version of Turbotax Home & Business 2024. I have been successfully using this software for many years, but I am running into a snag (I didn't have any problems last time, reporting income and/or losses from sales of stock on a fo... read more

1099 misc - Substitute Payments

Hello, I have a margin account, and thus I have the following issues: -I have a substantial amount of substitute payments or "in lieu of dividends". -I have a substantial amount of margin interest. My margin interest exceeded my capital gains, ordina... read more

What do I attach if summarizing transactions from 1099-B involving noncovered transactions or wash sales?

For context, I am paper filing this year. I entered the summary of transactions for all of my 1099-Bs, but some 1099-Bs have noncovered transactions and adjustments for wash sale losses. For those 1099-Bs involving noncovered transactions or wash sal... read more