TurboTax 2024 Updates

[Lynnie11]

Wanted to estimate my taxes for 2024 and determine the amount of IRA withdrawal to make this year. However, Turbo Tax has not updated interest, dividends, or retirement account sections. Any idea when these sections will be available? Hopefully soon and well before year-end.

[Bsch4477]

This calculator is for 2023 but should be close enough for planning purposes. 

https://turbotax.intuit.com/tax-tools/calculators/taxcaster/

[jl747]

Go here to find out when TT will update IRS and State forms.

There is a drop down next to "Tax form availability" where you have to pick which TT you have.

The rest is simple. Click each drop down for Return type and Agency.

https://form-status.app.intuit.com/tax-forms-availability/formsavailability?albRedirect=true&product... 

[rjs]

Until the Step-by-Step interview sections are updated you can enter the information in forms mode to get an estimate. If you do this, don't use it as the tax return that you will actually file. When you are ready, start a new return using the interview for your actual filing.

This applies only to the downloaded desktop TurboTax software, not to TurboTax Online.

[rita27]

I'm in the same boat.  Many items will not be updated until second half of december and into January.  Why is this?  Already billed.  Not being able to do reasonable estimates in a timely manner with the software significantly reduce the value i get out of this product. 

[bw1957]

Totally agree!   Waiting until January for these updates is not good at all.  I have a very complicated tax situation this year and need to get this estimate completed before year end.   I will attempt to use the forms version as stated above but I would expect better from this product!

[jl747]

I would not totally put the blame on TT. They could put draft versions in the program.
But, people will still try to send in the draft forms before the IRS and TT accepts e-filing or mailing in.

If you used TT 2023 you can use the "What If" to punch in some numbers or create a new file and punch in the numbers in TT 2023 for an estimate. That's what I have done. The big problem is what will be on my 1099's.

So I just estimate those numbers.
They have to wait for the IRS to finalize the tax forms. They probably also have to wait to see if the Government changes any rules.

To find the "What If" see this post. (I think this is in the Desktop version only)

https://ttlc.intuit.com/community/taxes/discussion/what-if-worksheet/00/3112351 

[bw1957]

Totally agree on the real issue being the IRS and at this time 1099's are not available.  However, having the ability to just enter numbers for IRA withdrawals would be nice to have.  Similar to entering estimated tax payments.  

With that said good call on using the 2023 for estimating numbers.

[Lynnie11]

Thanks for the suggestion! It was most helpful and mirrored the results of the suggestion to go into the forms directly and type inn the information. Much appreciated!

[Lynnie11]

Thank you for this suggestion. It was most helpful - a bit time consuming but was able to guide me to a solution. Thans so much!