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).   

[sanman57]

what the heck.  

I paid for it and you had all year to prepare it.  

You still cant even accept income from IRA/401k.  How behind is your tool. 

THAT TAX AREA HASNT CHANGED.

I always model my return BEFORE I make the choice to have accountant handle it.  

You guys let me down.  

[jdisan]

we are mid December "you indicated it would be ready mid November" and the senior portion for 2025 tax estimate is still not ready?

i need this ASAP in order to decide my tax situaiton

[email address removed]

[jdisan]

exactly my comment

[xmasbaby0]

2025 STANDARD DEDUCTION AMOUNTS

SINGLE $15,750  (65 or older/legally blind + $2000)

MARRIED FILING SEPARATELY $15,750  (65 or older/legally blind +1600)

MARRIED FILING JOINTLY $31,500  (65 or older/legally blind + $1600)

HEAD OF HOUSEHOLD $23,625 (65 or older/legally blind + $2000)

The $6,000 senior deduction will be calculated on 1040 Schedule 1-A page 2 Part V Enhanced Deduction for Seniors which goes to 1040 line 13b. It is separate and in addition to the Standard Deduction or your Itemized Deductions on 1040 line 12e.  Turbol Tax automatically includes it.

IRS Schedule 1-A
https://www.irs.gov/pub/irs-dft/f1040s1a--dft.pdf

[al-neal]

I agree 100% with sanman57.

Y'all need to have a way in the new edition software to input estimates of or what we know we have in income, expenses, deductions, etc.

This allows us to make moves at the end of the year to maximize our income and savings on taxes.

KingAl

[baldietax]

stop waiting on turbotax for an estimation tool for final 2025 moves, they had 5 months to absorb 900 pages of tax legislation for the current tax year and new forms from the IRS.

you can try forms mode otherwise use other online calculators like this instead

https://www.dinkytown.net/java/1040-tax-calculator.html

[jdisan]

Dinky has it all up to date for the last 60 days, but also and it includes OBB for the senior part! i have used chatgpt to estimate my taxes and they made a mistake on the first go. Once corrected and compared to Dinky very similar. 

[VolvoGirl]

@jdisan   The 2025 program has been updated for the Senior Deduction.   

The 6,000/12,000 senior deduction will be calculated on 1040 Schedule 1-A page 2 Part V Enhanced Deduction for Seniors which goes to 1040 line 13b. It is separate and in addition to the Standard Deduction or your Itemized Deductions on 1040 line 12e. Turbo Tax automatically includes it if you qualify.

IRS Schedule 1-A
https://www.irs.gov/pub/irs-dft/f1040s1a--dft.pdf

Here is Turbo Tax 2025

[sanman57]

Take your taxes to a public place?  Are you Russian or Chinese?   IMO Geesh thats a stupid thing to do.  

[VolvoGirl]

Who said anything about a public place?   I couldn’t find that in this thread.   Maybe that was on another post?   I read most of the posts in this forum and never seen anyone mentioning to go to a public place.   Just maybe go to a CPA or tax accountant.  

[sanman57]

but it wont take retirement income OR investment income.   So its DEAD TO ME.   

TODAY 28 DEC 2025