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November 25, 2023
Question

TTAX Business for 2023 1099-OID

  • November 25, 2023
  • 2 replies
  • 0 views

Will TTAX Business for 2023 be able to CORRECTLY handle Form 1099-OID?  I am not talking about a workaround.  I'm talking about being able to enter Form 1099-OID into an actual template on the screen.  Workaround is a joke and does not work properly, IMO.  Tried that last year.  Did not work for me.  Product needs to be updated for Form 1099-OID.  Take the code from regular TTAX and incorporate into TTAX Business.

    2 replies

    Employee
    November 26, 2023

    Will TTAX Business for 2023 be able to CORRECTLY handle Form 1099-OID?

     

    No. The alternative is still the workaround; there is no 1099-OID template in TurboTax Business.

    November 26, 2023

    I don't know TTB but some of the issues I read about also occur in TT for 1040. what I do is one 1099_int for taxable and a second for tax-exempt. for tax-exempt I do my own netting and use only box 8

     

    uthorns76Author
    November 26, 2023

    I will use TaxAct for my trust return for 2023.

    Employee
    November 26, 2023

    That program does have the 1099-OID template.