FORM 5695 and TurboTax is a disaster this year!!!

[monysto1]

I finally gave up.... I am so frustrated with TurobTax this year!!!! First it was that form 5695 did not work at all. Then finally it would let you fill it out via step by step. Then the Chase investments import got delayed from 2/17 to 2/22 to 2/24 then 2/26, just a horrible experience. Once it finally let you import it, it did not pick up that the investments were not digital (bitcoin type), but actual stocks. I had to step through 75 transactions identified as errors in the TurboTax review. Then finally, finally, finally I get to file my taxes because TurboTax review says all ready to file.

I file and both my federal and state taxes get rejected. I could not take it any more, I deleted form 5695 completely. Refiled my taxes and they were both accepted. Once my federal taxes get processed and refund issued I will file an amended tax return to get the energy credit refunded. Hopefully over the next couple of weeks TurboTax can get some competent programmers and get all their bugs fixed!!!

I have used TurboTax for over 30 years. I may switch to another tax prep program and never use it again!!! AND. and.... I believe TurboTax should issue a rebate to all its loyal users that have had to endure a nightmare of issues this year!

Forge on fellow tax filers  ! Best of luck !

[tblong]

Same issue here in my post: https://ttlc.intuit.com/community/tax-credits-deductions/discussion/fed-and-state-filing-rejected-du...

Wild that they (TT) allow you to file knowing good and well its going to get rejected with a known TT issue with the 5695 form.

[AmeliesUncle]

While I definitely agree that Intuit and TurboTax are SEVEVERLY lacking, most of what you are referring to is not their fault.

As the other answer indicated, the problems with Form 5695 are primarily because of the IRS, not TurboTax (although it is rather surprising that TurboTax let you file when it was a known IRS problem).

Imports are primarily based on the bank uploading your information, so most likely that is a Chase problem, not TurboTax.

If you decide to use different software in the future, personally, my first pick would be TaxAct.

[monysto1]

Not true. I was working with Chase who published and mailed investment documents. They also said the bug was on the TT side that all their docs were ready for import but could not be due to the TT software.

And for the 5695 form IRS was complete with modifications on 1/28/26. TT team should have been able to incorporate long before 5 weeks.... and finally I think we all agree that it is so broken that the TT software allow you to file knowing it will be immediately rejected.

But thank you for your comments.  🙂

[tblong]

---

@monysto1 wrote:

Not true. I was working with Chase who published and mailed investment documents. They also said the bug was on the TT side that all their docs were ready for import but could not be due to the TT software.

And for the 5695 form IRS was complete with modifications on 1/28/26. TT team should have been able to incorporate long before 5 weeks.... and finally I think we all agree that it is so broken that the TT software allow you to file knowing it will be immediately rejected.

But thank you for your comments.  🙂

---

@monysto1 You are correct.  I called TT support and they fully acknowledged the issue was on the TT side.