Error in Schedule D 2016 Return

[EEGriffie]

How do I correct a Schedule D Error made by TurboTax in my 2016 IRS Tax Return?

[xmasbaby0]

2016?   Why are you trying to change something on a tax return from so long ago?   It is too late to get a bigger refund for a 2016 tax return.  What are you trying to do or accomplish?

TurboTax no longer supports nor provides software to make changes to a 2016 return.

[xmasbaby0]

And...if you used online TurboTax to prepare that 2016 return, it is probably gone.  The IRS and TurboTax save returns for seven years and then they are purged.

[EEGriffie]

TurboTax made a serious Investment Loss entry on my 2016 Schedule D, which has carried through up to now. My Tax Attorney has advised me to file Amended Tax Returns for 2016 -2023. I have copies of all TurboTax SW Discs, but not the Data Files that TT created. Any suggestions or recommendations on Next Steps? Thanks.

[rjs]

Without the data files, the TurboTax software won't do you any good. And the software older than 2020 won't work anyway. The amended returns will have to be prepared on paper forms. Since you used the TurboTax CD software, TurboTax does not have copies of the data files.

My recommendation is to pay your tax attorney to prepare the amended returns, or have a local professional tax preparer do it in consultation with the attorney. You will need paper or PDF copies of all the original tax returns, or tax return transcripts from the IRS. With your permission, the attorney or tax preparer can get the transcripts if needed (though 2016 may no longer be available).

The attorney or tax preparer may be able to use their professional tax software instead of paper forms, at least for the more recent years. The amended returns for 2020 and earlier will have to be filed by mail. The IRS no longer accepts e-filing of earlier years.

[Mike9241]

assuming you are using desktop and kept the apps updated, you will need to recreate the returns from scratch. Turbotax does not have copies of the data files when the returns are done using the desktop apps. You'll need to pay any additional taxes since that s specifically excluded under the accuracy guarantee (you get bills for any penalties or interest). you can try to submit a claim if charged penalties or interest but without the original data files, it's likely Turbo tax will deny them