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Get your taxes done using TurboTax
Update: It is NOW possible to override the codes in Form 8949. There is a good description of how to do so for an Opportunity Zone investment, posted by @hpadden here:
<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/4502160-oppertunity-zone-capital-gains-credit-does-tt-allow-me-to-...>
My original reply (for context):
Yes, it would be good to have more clarity from TT, it's an annoying omission. Come on TT.
I feel strongly that the lack of "Code Z" support in Form 8949 is the biggest problem. While it's rather easy to fill out 8996 ourselves if we're doing taxes for a QOF, the lack of Code Z support in 8949 affects all investors in a QOF and ripples through all the capital gains calculations.
There is at least one separate open question on this: <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/4649558-when-will-tt-support-opportunity-zone-capital-gains-deferr...>
<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/4502160-oppertunity-zone-capital-gains-credit-does-tt-allow-me-to-...>
My original reply (for context):
Yes, it would be good to have more clarity from TT, it's an annoying omission. Come on TT.
I feel strongly that the lack of "Code Z" support in Form 8949 is the biggest problem. While it's rather easy to fill out 8996 ourselves if we're doing taxes for a QOF, the lack of Code Z support in 8949 affects all investors in a QOF and ripples through all the capital gains calculations.
There is at least one separate open question on this: <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/4649558-when-will-tt-support-opportunity-zone-capital-gains-deferr...>
‎June 4, 2019
10:35 PM