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I am using TurboTax Premier - Desktop - Windows
Lots of errors this year when letting TurboTax guide me step-by-step:
1.When entering Charitable Donations, it accepts all the information but there is not a "Done" button. Therefore, when you go back to the Donation summary, the amounts are blank! Exiting the donations section sometimes fixes the problem and sometimes doesn't. I couldn't figure out the pattern.
2. When I entered rental property income, it said it would ask for expenses later. It never did! I went back to expenses manually. Then, when trying to add a dishwasher as a Rental Property Asset, it insisted on saying it was computers/electronics. I exited and came back in and it allowed me to enter it as an appliance.
3. One time when I was exiting, the tally at the top said my refund was in the $100.00 range. When I immediately reopened, it recalculated to be over $1200. It should have been current at the time I exited.
4. One time when I opened TurboTax, it said it was updating. OK, that is good. It is actually why I had exited and restarted. However, the update was to INSTALL NC TurboTax. I DID NOT ask for a state install. Fortunately, NC is what I will ultimately want, otherwise I would be really upset.
5. One time when I was opening TurboTax, and it said it needed to restart. OK. But it just completely shut down instead.
Frieda
Hi,
I am using The desktop version for Mac and completing the K1 (1065). On the screen which asks to input the "Enter the Box 20 Code E Amounts", the "Solar Property 2020-2022 construction" is valid but shouldn't there be one for "Solar Property 2023-2024 construction" since the ITC is different?
OR does "Solar Property 2020-2022 construction" also cover the latest projects constructed in 2023-2024 and the ITC is properly calculated already and it is a simple labeling issue?
Happy to post an image of the screen.
Thanks,
My
You are correct that the third line on the page "Enter Box 20 Code E Amounts" should be labelled as "Placed in service during 2024." Enter your current construction costs in the box for "2020-2022 construction" as this will report the amount on the correct line of the underlying form.
Confirm this by reviewing the Schedule K-1 Partnership Additional Information worksheet that is included in the PDF of your complete return.
This has been reported to the development team for further investigation.