@taxlady28 wrote:
If the IRS accepts your TurboTax return then it will reject the second one. But who knows which one will get processed first?
Here, if form 5695 was not correct when it was first released, it seems likely that returns filed with bad info on form 5695 will be rejected.
However, I should also point out the possibility that the IRS computers were not programmed correctly, and turbotax was sending form 5695 before the IRS was ready to accept it. So maybe the IRS is holding 5695 returns without accepting or rejecting, while they update their own computers. At this point, 5695 is a big mess on both sides. The IRS was very late in approving the form, making Turbotax late in programming it.
