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Employee
June 1, 2019
Question

When will 2016 cap gains schedules be fixed?

  • June 1, 2019
  • 2 replies
  • 0 views

Need to do est taxes soon. Cap gains are not working. Employer stock worksheet doesn't flow into cap gains worksheet, which has conflicting info about filling out part IV, and basis doesn't flow onto 1040. Any ETA for fixing this?


2 replies

Critter
Employee
June 1, 2019
4th quarter estimates are due 1/15/17 so the program should be working in time to make the last payment
Critter
Employee
June 1, 2019

2016 estimates should be completed using the fully functional 2015 program ...

If you want to play around with different figures and tax scenarios without affecting your original return you can

In the TurboTax CD/Download software by creating a test copy:

1.  Open your return in TurboTax.

2.  From the File menu, choose Save As.

3.  Give the copy a new name to distinguish it from the original (for example, by adding "Test" or "Example" to the file name).

4. Click  Save. You are now safely working in the test copy and anything you do here will not affect the original.

 https://ttlc.intuit.com/questions/1900642-how-to-make-a-test-copy-of-your-return

 

Or use the WHAT IF tool:

- Click Forms Icon (upper right of screen) or Ctrl 2 (forms view)

- Click on the Open Form Icon

- In the “Type a form name.” area type What-If (with the dash), click on the name of the worksheet - click on Open Form

- You will see the worksheet on the right side of the screen; enter the information right into the form

- To get back to interview mode - click on the Step-by-Step Icon (upper right of screen) or Ctrl 1

 

The Sch D & form 8949  will not be operational until at least 1/6/17 .....

https://ttlc.intuit.com/questions/1908854-forms-availability-table-for-turbotax-federal-products-exc...

babyrdAuthor
Employee
June 1, 2019
IT'S STILL NOT WORKING. Employer stock worksheet requires override to put company name in, and is not computing and sending basis upstream. 1040 is reporting entire sales proceeds as profit. And, BTW, estimates done using 2015 program use 2015 rates, carryforwards, and tax laws, so are not accurate.