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Get your taxes done using TurboTax
While I am disappointed that TT does not seem to currently support opportunity zone deferrals, it doesn't strike me as unreasonable. It's software that requires deep knowledge of the complexities of tax law, with issues that are often not resolved much before the beginning of the year.
However, I do find it unreasonable, irresponsible, and incompetent that a month before the filing deadline TT has not seen fit to provide any guidance as to what its customers can expect as far as such support. Even in the worst case, a simple "Opportunity Zone CG deferrals will not be supported for the 2018 tax year." would at least allow its customers to find other paths forward. And even if it won't be supported, providing a recommendation of best practices for reporting such a deferral would seem to be a minimum effort at customer service.
Instead, we are faced with the prospect of reading the tea leaves of appearing and disappearing boxes on worksheets to guess as to whether it will be supported, and rolling our own experimental solutions that may or may not cause federal and state taxes to be incorrectly calculated and even if it does ultimately may not pass muster with the IRS resulting in additional taxes, penalties and interest.
Can Turbotax *please* demonstrate some leadership and customer service and let us know where we stand?
However, I do find it unreasonable, irresponsible, and incompetent that a month before the filing deadline TT has not seen fit to provide any guidance as to what its customers can expect as far as such support. Even in the worst case, a simple "Opportunity Zone CG deferrals will not be supported for the 2018 tax year." would at least allow its customers to find other paths forward. And even if it won't be supported, providing a recommendation of best practices for reporting such a deferral would seem to be a minimum effort at customer service.
Instead, we are faced with the prospect of reading the tea leaves of appearing and disappearing boxes on worksheets to guess as to whether it will be supported, and rolling our own experimental solutions that may or may not cause federal and state taxes to be incorrectly calculated and even if it does ultimately may not pass muster with the IRS resulting in additional taxes, penalties and interest.
Can Turbotax *please* demonstrate some leadership and customer service and let us know where we stand?
‎June 7, 2019
4:40 PM
13,640 Views