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January 23, 2023
Question

Why doesn't Turbotax respond as to why they do not include Form 8996 and 8997??

  • January 23, 2023
  • 1 reply
  • 0 views

Why doesn't Turbotax respond as to why they do not include Form 8996 and 8997?? It has been years that users have been stuck with submitting paper returns because of this one form.

 

Maybe the TurboTax people have a good reason, but at the very least they could provide some response, other than it is not available.  

 

And the suggestion that we could add the 8997 as a pdf to electronic submission would at least help some.

 

 

    1 reply

    Employee
    January 30, 2023

    Why doesn't Turbotax respond as to why they do not include Form 8996 and 8997??

     

    They have; lack of demand.

    RobMdAuthor
    January 31, 2023

    Lack of demand doesn't cut it as an explanation. Many many people have been complaining about this for years, ever since QOZ funds were available as a "major" investment that both allowed deferral of capital gains and greatly advanced affordable housing and reuse of marginal properties.  This is a very worthwhile program that helps the country.  And all of us who have OZ funds can't use Turbo tax to submit returns electronically, which is kind of a deal breaker.  So how hard is it to add a form? There are tons of forms already in Turbotax that most people do not use.

     

    Still waiting to hear a viable reason directly from TurboTax.

    Employee
    January 31, 2023

    @RobMd wrote:

    Still waiting to hear a viable reason directly from TurboTax.


    I would like to hear the same, except I am not sure if or why they would owe anyone an explanation.