I used Turbo Tax for 2024 and the estimated taxes for 2025. When will the software update be available to reflect effects of the Big Beautiful Tax Bill?

[xmasbaby0]

Do not expect the 2024 software to be re-written for tax laws that recently passed.   The 2025 software will become available in mid to late November and will require many updates in the early tax season.

TAX REFORM CALCULATOR

https://blog.turbotax.intuit.com/tax-reform/tax-reform-calculator-120487/

[rjs]

The new tax law does not affect 2024 tax returns. There is nothing that has to be updated for 2024.

The preliminary desktop TurboTax software for 2025 should be available in mid to late November. The preliminary version of TurboTax Online for 2025 will probably be available in early December. The preliminary versions might not include all of the changes in the new law.

[VolvoGirl]

If you have the 2024 Desktop program you can try using the What-If Worksheet or test in a copy of your 2024 return.   First copy your return go up to File-Save As (Duplicate on Mac) and save it with another name like Test 2025.

There are a few workarounds you can do.  Like if you itemize deductions the SALT (State And Local Tax) max was 10,000 and now is 40,000.  So you could enter the amount over 10,000 (up to 40) in another place like in Charity.

If you are 65 or older and qualify for the 6,000 senior deduction you could reduce some taxable income by 6,000 (12,000 married).