Hello. What Version of Turbotax Has IRS Form 6765, for Research & Development?

Forum|Forum|5 years ago
February 28, 2021
2 replies
43 views

I have a small manufacturing firm. I recently learned about IRS Form 6765, which potentially allows for deductions on one's taxes for costs associated with developing and testing a new product.

I normally use TT Deluxe, but that version of the program appeared to not be able to add Form 6765 when I did my 2019 taxes. Can anybody guide me to which version of TT would offer feature. It could save our firm a lot of money.

Thank You Very Much.

dmertz

Level 15

No version of TurboTax for filing your individual tax return supports the creation of Form 6765. You must prepare this form manually outside of TurboTax, enter the result under General Business Credits, then print an mail your tax return along with your manually prepared Form 6765:

https://www.irs.gov/pub/irs-pdf/f6765.pdf

https://www.irs.gov/pub/irs-pdf/i6765.pdf

Since you use TurboTax Deluxe, it appears that your business is not a partnership, S corp or C corp. If it actually is one of these entities, TurboTax Business supports Form 6765 for inclusion in your business's tax return.

changbel

Level 3

Suggest Intuit add Form 6765 to turbo Deluxe, so that we can e-file both Federal and State.

Otherwise, it is such a big hassle to mail both of these returns just because of this form not supported by Turbo. Thank you!

askzach

Level 2

It is disappointing that despite paying hundreds of dollars for a premium tax service, I am forced to research and manually calculate significant business savings like the R&D tax credit outside of the platform. If the software is marketed for business owners, it should intuitively support these types of high-value credits without requiring external expertise.

Why am I paying a premium price for TurboTax if the software ignores major business incentives?