@Tax4fp Most of this information was previously provided by Tax4fp in a previous post.
Applies to TTax2021 Dlx desktop (possibly others):
After fix level R24 applied on 04/05/22. This info may have been posted by someone else previously. The problem with failure to annualize the quarterly amounts for LTCGs is STILL NOT FIXED with this patch level. The incompetence of TTax developers is now legendary!
There are 3 workarounds that will enable you to file your taxes. In my opinion the best is option one since it replicates the process used on the Capital Gains and QDI worksheet used to compute the tax.
1. Combine the amounts for LTCG and QDI by quarter and enter the combined amount in the appropriate column of the QDI row. Enter zero for each quarter in the LTCG row. The QDI amounts are being annualized and the tax on line 14 is correct (at least for me).
2. I don't recommend. Combine the amounts for LTCG and QDI by quarter , manually annualize them by quarter, and enter the combined annualized amount in the appropriate column of the LTCG row. Enter zero for each quarter in the QDI row. This option will give incorrect results if TTax ever fixes the LTCG annualization problem.
3. I don't recommend. Manually annualize the amounts for LTCG by quarter and enter them in the LTCG row. Enter the NON-annualized QDI amounts in the QDI row. This option will give incorrect results if TTax ever fixes the LTCG annualization problem.
I tested all 3 of these options and they all gave identical (correct) results.
