When will the updates be ready? EG 1099 section for dividends, etc...

[SteamTrain]

No one here knows

Software updates usually occur ion Wed or Thurs evenings....so check once on/after every Friday

[baldietax]

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

Form 8949 and Schedule D both say Jan 6th so presumably then but yeah who knows.

If you're trying to do year-end estimates just use simpler online calculator for now like this one, have some egg nog and come back to TT in mid Jan when they're done cooking this turkey

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

Happy Holidays

[johnlantz1960]

Thanks for the website.  I couple of others ones I checked wasn't right (eg.  They didn't have the 12k deduction for old folks like me).

[VolvoGirl · Accepted solution]

Turbo Tax is up to date with the Enhanced Senior Deduction.  It is automatic if you or spouse is 65+.   You don’t need to do anything.

It is calculated on 1040 Schedule 1-A.   Which goes to 1040 line 13b. This is in addition to the Standard Deduction or Itemized Deductions on 1040 line 12e.

The maximum deduction is $6,000 for each spouse 65. The phaseout is 6% of the amount by which MAGI exceeds $75,000 for single or $150,000 for married filing jointly (MFJ). The MAGI is normally the same as your AGI but with some Foreign items added back in. On a joint return the phaseout is calculated separately for each person, so the 6% phases out for each spouse. This deduction is intended to provide tax relief for seniors and is in addition to the existing standard deduction or your itemized deductions.  Expires December 31, 2028.