Business Income and Expenses ' Needs Review'?

[Jenndy43]

I'm guessing that's it then, it's related to Form 3800?

[Jenndy43]

@manbeing 

WOW! I had Income in 2023 and Form 3800 was not generated for me??! 

But there were a TON of posts from people complaining how Turbo Tax was delaying Form 3800 and it was eventually released around March 5th

I looked up Form 3800 on IRS website and it looks like its multiple pages!!

I hope this gets solved soon. 

[manbeing]

@Jenndy43  In your 2023 Home and Biz, did it show 'Needs Review'? or showed the correct positive income in the Business Income and Expenses section?

[Jenndy43]

For 2023 Never had a NEEDS REVIEW or Form 3800. Showed correct positive income.

Everything Was transferred correctly 

It's only this year, ie  2024 taxes I'm seeing the NEEDS REVIEW. 

[manbeing]

@Jenndy43  You are right. The Form 3800 didn't get generated in 2023 at all, even though I went through the general business credit section.

[Jenndy43]

@manbeing 

Sure wish someone at Turbo Tax would tell us if that's why we're seeing NEEDS REVIEW ie because of  the FORM 3800 DO NOT FILE . 

[daveneedsanswers]

This is from 2024 Turbotax Home & Business Desktop:

[Jenndy43]

@daveneedsanswers 

Best explanation yet!!!

Hopefully all the TAX EXPERTS responding on the issue will see this and let people know!! I've been down so many "rabbit holes" from their answers. 

Last year didn't even need to file Form 3800, looks like it's changed for 2024, its huge Form.

I also hope Turbo Tax will keep to it's "section will be ready Feb 22nd" because doing a search on Form 3800  last year it did not for those needing it and there was a lot of frustration. People were infuriated that other software was ready with Form 3800 much earlier - apparently TT kept delaying and only released Form 3800 early March. 

[manbeing]

@Jenndy43  @daveneedsanswers 

Another turbotax employee's reply to the 'Needs review' issue. Let us wait for the Friday's update.

"We have an update scheduled for the end of the week that may resolve the needs review notification. Please update your software on Friday and check back to see if everything is working smoothly."

[DanTheMan]

Same problem here.  Business Income and Expenses keeps showing "Needs Review".  I walked through every menu item to 'Update', even when there was noting to enter.  Final screen before this has all the numbers right.

TT needs to fix this ASAP.  Recall a similar problem a few years back regarding 1099-NEC, where TT kept flagging the input even though it was correct.

Guess I'm glad it's not just me.

[Jenndy43]

@manbeing @daveneedsanswers 

Just saw Form 3468 (Investment Credit)  won't be ready in Turbo tax until March 6th!!

I think it feeds into Form 3800 which I think is causing the "Needs Review"

I could be wrong but we may not see an update for Form 3800 until then, ie March 6th.

Same thing happened last year - TT kept moving the date for Form availability, people were frustrated and complaining other software had it earlier.

I'm confused why we even need Form 3800 this year (if we have zeroes by our answers!)  and why TT is generating it. 

[johngeffel]

Can’t we just go into forms mode and delete form 3800 if we don’t need it?

[manbeing]

I don't think it is an issue caused by the Form 3800 (I could be wrong).

I didn't go through General Business Credit section, so no Form 3800 was generated in the FORMS section, but I am still getting 'Needs Review' warning.

[Jenndy43]

@manbeing 

Is it possible you got the NEEDS REVIEW warning because you didn't go through the General Business Credit section? And then those of us that did go through the section, we got the Form 3800 which isn't ready?.

I've looked at the IRS website on Form 3800 and I can't tell if we don't need it, if we can delete the Form 3800 - or if it's mandatory to file it this year. 

[Jenndy43]

@johngeffel 

I don't know. I looked at the IRS website re: Form 3800 and I can't tell if we need to file it or not....?