Form 4626

Forum|Forum|2 years ago
May 29, 2024
2 replies
7 views

Yesterday I spoke with a TT expert. I am using Business version. I went and filled out the form as best I could. And there on the other side at the very top was #8. Is line 7 more than $1 Billion. No. STOP here and attach to your tax return. I'll bet they could have found out pretty easily that this did not apply to me.

So it is pretty obvious that most people getting this letter have no business getting it. I will submit my Form 4626, and then write a letter to the Department Manager who sent me this letter. Whosoever allowed this to go this far should be found and demoted to the lowest job. I'll bet that thousands of people are worrying about this unnecessarily. Hope this helps folks out...

TurboTax Business Windows

Anonymous_

Level 15

That's why TurboTax Business does not support the form.

johnfineran3Author

Level 2

Received a post from a member that informed me that I was looking at the wrong place, and found that I had done Section K line 29 A&C of the 1120 wrong. So after reading that I looked closer and they were right. Changed the answers so that I was not an active corporation, and the form 4626 then does not need to be filled out. Filed an 1120X to change that and hopefully that will be it. Thanks to the member who told me that.