It is not the added charge. The doubling of the fee, for the reason of this form’s use, is the issue. Just because the IRS lumped, reporting of the maturing of a CD bought through a Brokerage, with the sales of Stocks and Bonds, does not justify the amount of the upcharge by TT. There is no extra tax preparation expertise needed to include the form with the filing. To charge another $70 for this form's use is not warranted, when it is to merely acknowledge the maturing of a CD.
When a CD purchased through a bank matures, there is no report required. That is because it is simply informational to the IRS when a Brokerage is handling the transaction. Again, no tax expertise required by TT. There are no Stocks or Bonds involved; it’s simply a CD!
TT fee structure:
Maturing CD from a Bank….no charge.
Maturing CD from a Brokerage…. $70.
