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Deductions & credits
That is a situation that TurboTax does not support.
31. Deferred Gains for Qualified Opportunity Funds (Form 8949 for Codes Y and Z): The program
does not support the reporting of deferring tax on an eligible gain by investing in a QOF, by using
Code “Z” in column (f). The program does not support the reporting of the amount of eligible gain
that you previously deferred and now need to recognize by using Code “Y” in column (f)
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
July 16, 2020
8:45 AM