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Investing

TurboTax does not know how to handle options

If one sells an option and it expires it has a costs basis of $0 , yet Turbo tax keeps telling me I have an error and have to enter the costs basis.. I know I can force a work around, but this software should be able to understand that there are inve... read more

long term capitol gain tax issue

I entered 1099-B showing a long term gain on sale of mutual fund. The fund was held over 12 months.Filed as MFJ with taxable income of $69,000. The gain should be 0.00 tax. It shows on our 1040 form as income subject to tax. Please explain

Definition of Disney Collectibles for tax purposes

I have a large collection of Disney trading pins. I have sold some in the past for a good profit per pin. My tax consultant stated that these sales qualify as collectibles and should be included on Schedule C. I'm concerned to do this because of the ... read more

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