topic Business income doesn't update. in Self employed

Business income doesn't update.

jimhaynesfederaltax — Sun, 29 Dec 2024 20:08:13 GMT

Still says 'needs review'. Returning to worksheet and its correct there as entered! Is this a bug??

Using Home and Business version on Windows 11

Re: Business income doesn't update.

pk — Sun, 29 Dec 2024 21:41:49 GMT

@jimhaynesfederaltax ,. assuming that the business income category is a " dis-regarded entity " or attached to your SSN, the current version of 2024 Home & Business is still not fully operational. Many of the forms are still not fully operational and thus TurboTax is saying " do not file " Nees Review etc.

Is this your issue ?

Re: Business income doesn't update.

jimhaynesfederaltax — Mon, 30 Dec 2024 17:16:33 GMT

I don't think so. It imports and shows all the correct business values for the prior year. Also, it actually calculates the current tax on the business correctly from the current income and displays it in the proper place. So it seems to be working correctly except still not showing the business income in the business income place. I think its a bug.

Re: Business income doesn't update.

jimhaynesfederaltax — Mon, 30 Dec 2024 17:26:25 GMT

Re: Business income doesn't update.

pk — Mon, 30 Dec 2024 18:20:06 GMT

@jimhaynesfederaltax , could you give me a little bit more about your business ( and dummy figures ) --- I would like duplicate the fault as also ask the mods/ admins to send the issue for resolution. Please help. I am assuming that the import of the past etc. is not important-- just this year.

Sorry for the inconvenience.

Regards

Re: Business income doesn't update.

jimhaynesfederaltax — Tue, 31 Dec 2024 19:41:40 GMT

Well, when I opened Turbo tax this time to get the data for you, it is working correctly, and the "needs review" note is gone. I had closed and reopened previously and it was not updating. But now it is ok. Perhaps it needed to rest overnight.

Re: Business income doesn't update.

pk — Tue, 31 Dec 2024 20:52:24 GMT

@jimhaynesfederaltax , early Happy New Year, I guess