On my federal review, TurboTax keeps getting stuck in a loop on Schedule C passive carryover losses and will not let me file because of it. How do I get it to accept a response of zero so I can move on to file? It says this is not compatible and will be in some later release of the software.
If you have business income which requires the filing of Form 8995-A, even if the calculated Qualified Business Income Deduction is zero, you must wait until the IRS has approved that form for filing.
Form 8995-A, the form used to calculate the Qualified Business Income Deduction, has not yet been approved for filing by the IRS. The expected date this will be approved by the IRS is 2/5/2020.
The state and federal governments approve the most common forms first and work their way down the list. Please see the links below for updates on form availability. Once released, Turbo Tax will work quickly to get it working in the program. Form 8995-A is near the bottom of the federal list.
Wow. Really? That's it? I spent several hours on the phone with TurboTax specialists trying to resolve the problem and all they could come up with is that it was a technical glitch in the system. In the process of trying to fix it, my ENTIRE tax return got nuked and I have to start my taxes all over again. I can't believe TurboTax doesn't know enough about their own product to actually inform users why they can't file.