I mailed my federal return 6 weeks ago it still says that haven't received / can't provide any information about my refund? Should I be concerned?

[troubletos1]

Appreciate the info.  One "override" was TTAX denied my being able to deduct "Business Use of Home" because I had no Schedule "C" profits.  However as I recall you can also "add" Schedule "D" capital gains when determining whether you have enough income to qualify for the "business use of home" deduction.  It is a gray area as I am a "day trader" rather than an "investor".  Technically as a day trader I don't have to pay self-employment tax, so in a way I am not a business but from what I read you are allowed certain deductions such as office supplies as it relates to your trading.  Perhaps I am stretching the deduction???

As for the stocks, I trade do about 400 transactions a year.  I do download the transactions from my broker but it is not in the correct format.  I have to take it to Excel to match it to IRS requirements.  It is easier for me just to attach it to the return and mail it in then.  Perhaps I can attach it electronically.  I don't know.  Ugh.  LOL    

[Kenneth 3]

Yes I'm concerned 

[EbonyA]

Are you needing assistance related to this topic? please note that this is a 2 year old thread; feel free to provide details on your specific concern @Kenneth 3.

[Troubletos]

As I recall when determining gains from a business for deducting "business use of your home" you add BOTH Schedule "C" and Schedule "D" income/capital gains.   TurboTax only considers Schedule "C" income.  If you override it by adding Schedule "D" capital gains Turbo Tax rejects your attempt to E-file your return.

I'm at a loss as to why TurboTax disallows E-filing if you have overrides.  What do they care?   You paid to E-file.  If your override is an error isn't it your problem with the IRS? 

[Critter-3]

@Troubletos 

Your memory is faulty ... the program does it correctly.   And overrides may keep you from efiling but it will void the accuracy guarantee. 

[Vanessa A]

As I recall when determining gains from a business for deducting "business use of your home" you add BOTH Schedule "C" and Schedule "D" income/capital gains.  No.  When you are deducting for business use of your home, it is ONLY reported on Schedule C.  It is not included on Schedule D.

The program will not allow you to e-file when it picks up an error due to the accuracy guarantee. 

[Troubletos]

No my memory isn't faulty.  TurboTax does NOT take into consideration Schedule D income when determining whether you are eligible for the deduction.  Instructions to Business Use of Home, Form 8829 does include Schedule "D" income.   Go to the IRS Form 8829 instruction sheet for Line 8, second paragraph.  It states it considers Schedule "C", Schedule "D" and Form 4797 income.   So yes the program is faulty. 

It sounds like you work for TurboTax or you're a Turbo Tax advocate.  If you are then perhaps you can contact them so they can take another look at what type of income the IRS considers to be eligible for the Business Use of your Home deduction?  

As for TurboTax rejecting your return to be E-Filed because of an override, it should be none of their business.  You paid for the program and you paid to have your return E-Filed.  If you prefer to E-File your taxes with an override then TurboTax should simply require you agree by checking off a box that the return will no longer be covered with the TurboTax accuracy guaranty.   

[Critter-3]

Ok ... lets look at that instruction carefully ... you don't get to take all the Sch D income for the 8829 just any amount on line 4797 and Sch D that relates to the business like the sale of business assets.  So is that what you are referring to ?    If so did you enter the sales of assets in the Sch C section correctly so that those sales are linked to the Sch C ? 

Line 8
If all the gross income from your trade or business is from the
business use of your home, enter on line 8 the amount from
Schedule(s) C, line 29, plus any gain derived from the business
use of your home and shown on Form 8949 (and included on
Schedule D (Form 1040)) or Form 4797, minus any loss shown
on Form 8949 (and included in Schedule D) or Form 4797 that is
allocable to the trade or business in which you use your home
but is not allocable to the use of the home. If you file more than
one Form 8829, include only the income earned and the
deductions attributable to that income during the period you
owned the home for which Part I was completed.
If some of the income is from a place of business other than
your home, you must first determine the part of your gross
income (Schedule C, line 7, and gains from Form 8949,
Schedule D, and Form 4797) from the business use of your
home. I

[Troubletos]

What if you are a day trader (not a long term investor which is not classified as a business).  You have an office, and you buy and sell financial products such as stocks and bonds on a daily basis.  You use your space solely for executing your online trades, doing research etc.  By definition your space meets the IRS home office requirements but your income is reported as capital gains on Schedule "D".  Your office expenses are reported on Schedule 'C".   

Turbo Tax disallows this.   Therefore if you want to take this deduction you have to override an entry on Form 8829 which includes Schedule "D" income which is allowed by the IRS instructions.   Although you paid for software that TT advertises you can E-File your return, TT blocks you from E-Filing due to the override.  As I said before, TurboTax should not be telling you what you can or cannot do regarding your return.  If you choose to override one or more entries, then TT should have a screen that you check off that you understand your return is no longer covered under the TT accuracy guaranty.  

[Critter-3]

The TT program is not set up to accomodate all tax situations and yours is very unusual.  If you do not want to use a professional to file the return then your only option is to use the downloaded DIY version and make any overrides you believe needs to be done in the FORMS mode which may keep you from efiling the return. 

[Troubletos]

Oh I see.  Let's review your first comment to me :   "Your memory is faulty ... the program does it correctly."   

It seems my memory is not faulty and now you tell me the program does not accommodate all situations.   LOL    

I'm not sure why TT doesn't cover a BASIC fact that is clearly spelled out on the instruction form that Schedule "D" income can be included when determining if you qualify for the business use of home deduction.  I'm guessing declaring Schedule "D" income might raise an IRS red flag so TT doesn't want to take a chance by having to honor their "accuracy guaranty" if the taxpayer gets audited. 

It's kinda like .... TT has an accuracy guaranty but you better not make a deduction that "may" be questionable.  LOL   

What about my suggestion that Turbo Tax should allow someone to E-File with overrides if they agree to drop the TT accuracy guaranty?   Perhaps you can make that suggestion to  the TT gurus.  I'm only Level 2 so my ideas won't have much clout.   

Thanks for the chat.   Happy tax filing.