They need to add more significant logic than just the “sale date” in order to capture what the IRS means by acquired. They have made it very clear that it means a written binding contract with a payment, which can be nominal prior to their deadline.
TurboTax uses a woefully inadequate calculation of the “sale date” in isolation to determine eligibility.
Their interview does not fully capture all the required information to determine eligibility and therefore for us, we have paid for software we cannot use.
i am very disappointed and dissatisfied.
For what it’s worth, ChatGPT is saying that FreeTaxUSA uses a more comprehensive logic and allows for e-filing. I am trying to determine what my options are, and this seems to be the best.
a second alternative would be to use TurboTax to complete the return, except for this particular form, and completing that accurately outside the software and sending a paper return to the IRS, but this is highly undesirable because of the delays associated with paper return processing.
The third option would be to use a paid preparer who can actually do this correctly,
What a let down and shame that TurboTax doesn't do this properly for taxpayers.
