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Deductions & credits
Just read in The NY Times (https://www.nytimes.com/2022/03/04/us/politics/irs-chaos-tax-season-2022.html) that the IRS still has a huge backlog (20 million!) of 2020 paper returns so I don‘t want to paper file. I don‘t want to stop using TurboTax because I‘d need to re-enter so much data as I‘ve been using it for rental property for decades. Hopefully either TurboTax will allow us to upload Form 1116 Sched B as a pdf, then efile, or the IRS will rescind the Sched B requirement for this year. I may hold off and not file until October if TurboTax can‘t fix this problem before April 16th. (I made a 2021 return payment online @ IRS Direct Pay so at least I won‘t accrue penalties.)
March 4, 2022
12:03 PM