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TurboTax is not asking all the pertinent questions for Schedule F. Being asked to enter data at review that is cryptic and unable to see the actual question

I have completed Schedule F as I have each year.  At the end of the federal return it says it needs to review schedule F.  The questions it is asking for clarification on are not listed in the TurboTax Schedule F interview.  In addition, the questions it is asking to be filled out are incomplete and make offer no indication what its asking ("other exp amount" and "at risk" for example).  There are no line numbers, no sections etc. TurboTax does not take you to the line of the form that its asking for clarification on.  There is also no way to undo a wrong answer.  

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TurboTax is not asking all the pertinent questions for Schedule F. Being asked to enter data at review that is cryptic and unable to see the actual question

Go back and reread the question on the at-risk.

You ARE at-risk - meaning that you are ultimately responsible for the debts and liabilities.

Based on your response "...it destroyed my refund...", I am assuming that your response to the way the question was worded is incorrect.

The tax world is difficult, and as much as TT does a pretty good job in helping millions get through their taxes, some situations, such as at-risk, are not easy areas.

This is certainly not the first year for having to address the at-risk rules.  The rules have been around for decades.

*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.

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3 Replies

TurboTax is not asking all the pertinent questions for Schedule F. Being asked to enter data at review that is cryptic and unable to see the actual question

Responses to your specific questions:

  1. "other exp amount" - TT is asking if you have expenses, other than those that are specifically detailed on lines 10 through 31.  If you do, then TT will take you to a separate screen where you can list those expenses and those will show up on line 32 of Schedule F.
  2. "at-risk" - TT wants to know if you have any at-risk limitations.  This is required in order to determine if you have any loss limitations.  Typically for a Schedule F taxpayer the answer will be that you do not have any at-risk limitation.  So pay particular attention to how the question is worded.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.

TurboTax is not asking all the pertinent questions for Schedule F. Being asked to enter data at review that is cryptic and unable to see the actual question

Thank you for your response.  I've never been asked these questions before and I've been filing schedule F for 3 years.  Secondly, you obviously know what these questions are through experience.  However, when TT is asking the questions it is not displayed in the schedule f form in the little window.  The actual line its asking about is not visible.  So it's really a guessing game for those that do not have that level of expertise.  As stated before I've never been asked the "at risk" question before.  When I answered no it just destroyed my refund.  Is this a new question for 2021?

TurboTax is not asking all the pertinent questions for Schedule F. Being asked to enter data at review that is cryptic and unable to see the actual question

Go back and reread the question on the at-risk.

You ARE at-risk - meaning that you are ultimately responsible for the debts and liabilities.

Based on your response "...it destroyed my refund...", I am assuming that your response to the way the question was worded is incorrect.

The tax world is difficult, and as much as TT does a pretty good job in helping millions get through their taxes, some situations, such as at-risk, are not easy areas.

This is certainly not the first year for having to address the at-risk rules.  The rules have been around for decades.

*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
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