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Get your taxes done using TurboTax
No, i do not anything in 1099-INT Box 12 or 1099-OID Box 6. I do have accrued interest which reduces the federal tax. If I removed this accrued interest value, TT carries over the taxes to CA (540) correctly. This tells me that TT is doing incorrect calculation when accrued interest exists. For now, i will make CA adj to reflect the correct amount in CA (540). I called TT support and spent 2 hours on the phone with them. None of them was able to help. The worst part is that TT support is useless. They told me they'd open an investigation but in reality nothing happened. They just lied. I will switch to another tax platform next year.
‎April 1, 2025
10:38 AM