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CRITICAL NOTICE Regarding Your 2020 TurboTax Returns, you have reported the cost basis of your Employee Stock Purchase Plan sales incorrectly

Did everyone got this e-mail?

 

If not then how does TurboTax know to send this to select few?

 

Paranoid?  Or, is Turbo Tax snooping at our returns?

 

As far as this software bug, EVERYONE knew but Turbo Tax only fixed AFTER the Apr 15 filing deadline.

 

 

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6 Replies
RobertB4444
Expert Alumni

CRITICAL NOTICE Regarding Your 2020 TurboTax Returns, you have reported the cost basis of your Employee Stock Purchase Plan sales incorrectly

This email went out to everyone flagged by the TurboTax software as potentially effected by the error.  It doesn't know for sure whether the error caused a problem for you, only that you used the forms and calculations that were involved.  

 

It sounds like you were aware and on top of the issue at the time so it may not apply to you but there are folks who had no idea whether the calculation was incorrect when they used it initially.

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CRITICAL NOTICE Regarding Your 2020 TurboTax Returns, you have reported the cost basis of your Employee Stock Purchase Plan sales incorrectly

How?

 

How does Intuit even know that i'm at (potential) risk to even flag me?

 

Intuit should not be using my TurboTax tax preparation data for any sort of analytical work, as stated clearly on their privacy document.  They may for other Intuit products, but NOT for TurboTax product.

 

Right?

 

And yes, correct, i had posted my experience last year in following discussion, where i documented what i had to do to manually workaround the software bug,

 

https://ttlc.intuit.com/community/after-you-file/discussion/re-after-federal-filed-and-return-accept...

 

CRITICAL NOTICE Regarding Your 2020 TurboTax Returns, you have reported the cost basis of your Employee Stock Purchase Plan sales incorrectly

 

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CRITICAL NOTICE Regarding Your 2020 TurboTax Returns, you have reported the cost basis of your Employee Stock Purchase Plan sales incorrectly

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DanielV01
Expert Alumni

CRITICAL NOTICE Regarding Your 2020 TurboTax Returns, you have reported the cost basis of your Employee Stock Purchase Plan sales incorrectly

@itrmt8372  TurboTax doesn't specifically know that you yourself had an issue.  What is being disclosed by the letter you received is that there was a program experience regarding this area of the software that was not performing as expected.  While your personal information is kept completely private, it is still possible to tell what categories of income/expenses, etc. were reported on your return, which in your case matches the profile of the experience that TurboTax is disclosing that did not meet expectations.  If you are affected negatively, TurboTax will work with you to get this resolved.  Hope that clarifies things a bit.

 

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CRITICAL NOTICE Regarding Your 2020 TurboTax Returns, you have reported the cost basis of your Employee Stock Purchase Plan sales incorrectly

Thank you.

 

I didn't know that TurboTax has built-in "tracker" that tracks (hopefully anonymously) my (every) move within the local installation of TurboTax and sends that to its mothership for analytics, including analytics to determine if my move has led to (possible) risk from their software bug.

 

IMHO, TurboTax needs to come forth and make this "tracking" clear in disclosing such.  I would be naïve to think in these age of every thing getting tracked by everyone, not all that surprising that such tracker exists in TurboTax.

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