Bottom left of page 10 of the IRS instructions for Form 1040-X: "Note. Show any negative numbers (losses or decreases) in columns A, B, or C in parentheses."
TT Deluxe used minus signs instead of parentheses. Is there a way to remove the minus signs and use parentheses instead, or do I have to print a blank 1040-X and complete it with a pen?
Thank you.
You'll need to sign in or create an account to connect with an expert.
I would use what TT prints and ignore the instructions.
Publication 1167 section 6.2.8 (page 30) https://www.irs.gov/pub/irs-pdf/p1167.pdf
says for the following for all "substitute forms" (I think a tax form printed by software is probably a "substitute form" as it is not a printed form from the IRS)
Negative (or loss) amount entries should be enclosed in brackets or parentheses
or include a minus sign. This assists in accurate computation and input of form
data. The IRS preprints parentheses in negative data fields on many official
forms. These parentheses should be retained or inserted on printouts of affected
substitute forms
The instructions are for hand filing the form on paper. Before the TurboTax software can be distributed to the public all forms had to be submitted to the IRS for their approval. The IRS has no problem with the way TurboTax does it. (Formats and specifications for electronically prepared tax forms are defined in IRS furnished "schemas" that can be different than the published instructions for paper forms - everything on the form must be exactally as the schema defines it or the IRS computer will not be able to read it. )
Excellent! Thank you for your reply, and for digging up the info in Pub 1167.
Much appreciated!!
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
gary_green123
New Member
jman3
Level 3
charlie-boobar
New Member
djmckinnongolf
Returning Member
j_abella
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.