1099 Nec

Forum|Forum|1 year ago
January 11, 2025
1 reply
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Every time I try to add my 1099 NEC I receive a message that says Form 8582 p 1:_ This form has not been approved for release at this time. You must obtain an update Before you file your return In order to ensure that all of the calculations are correct.

Is it an update from the company or an update from TurboTax? It won’t let me finish off the refund because of this. can you enlighten me more?

DawnC

Employee

Form 8582 is filed by individuals, estates, and trusts who have passive activity deductions (including prior year unallowed losses). That form has not been finalized in the TurboTax software yet. That update is tentatively scheduled for 01/16, although, please note, that date may change.

To enter your Form 1099-NEC in TurboTax:

Open or continue your return.
Navigate to 1099-NEC:
- TurboTax Online/Mobile: Go to 1099-NEC.
- TurboTax Desktop: Search for 1099-NEC and select the Jump to link.
Follow the onscreen instructions. When you’re done, we’ll ask you a few questions and help you through entering any expenses you may have so that you can reduce your taxable income.

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