And one more thing, while we're at it.
The Federal cap gains worksheet uses a different methodology than the state worksheet, resulting in the following additional error:
Sch NJ-DOP: column D - Price cannot be greater than the federal amount
Heres an example: Sold one covered call for $50. Bought it back to close the position at $75 to prevent the stock from being called away.
Here are the real numbers:
Actual data: Sell to open price: $50. Buy to close price: $75. Result: Loss of $25
TT Fed worksheet: Proceeds: -$25. Cost basis: $ 0. Result: Loss of $25
TT NJ state worksheet: Proceeds: $0. Cost basis: $ 25. Result: Loss of $25
I've previously seen issues with the "Quantity" field being reported as a negative number in the case of a short sale so maybe that's it, but this is just pretty poor programming/quality control in my view. At the very very least be consistent in your methodology. It took quite a bit of searching and many wasted hours to ascertain what was actually happening here.
You need to do better Turbo Tax. Once again, I do not expect a reply.
