First of all, I've been using TurboTax since it came to market 20-something years ago. with that said, I can definitely see my way around the program{s}.
This year, TT has got some VERY serious QBI-related issues... and their "DO NOT FILE" warnings for forms that are not yet ready ARE NOT reliable.
1. A couple of days ago, TT allowed me to file a 1041 Simple Trust return without any kind of a warning that forms were incomplete or missing. I filed it and then compared it to last year's return... they were VERY different in terms of the pages/forms used and the calculations performed. SO, I went in and built a new 1041 return using the previous YEARS (2018) 1099 numbers with TT Business 2019, so I could see if TT 2019 could duplicate the return from 2018. RESULT????: ----->>>> different calculations, forms missing, etc. I got on the phone with their CPA assistance program and he informed me that many of the QBI forms and calculations are STILL NOT READY and that I should have gotten warnings from TT that I should not file the return yet. I told him that I got NO "DO NOT FILE" messages. When he remotely viewed my returns, he was definitely surprised that I had been right. Information he was given during our phone call was that multiple QBI (and other forms) would not be ready until 2/21/20. Problem is, the proper "DO NOT FILE" messages from TT are NOT appearing where they should be in many cases.
2. I've done the exact same 1041 Trust return for many years. Income in the trust is mineral royalties. All income is distributed to the beneficiary. For the 2018 tax year (the first with QBI) TT generated a 199A Statement as part of the K-1, indicating the total net income was a certain amount AND included the depletion claimed in the numbers on the 199A statement. THIS YEAR, there is no 199A statement with the K-1 but line 14i still has an entry: STMT...which means a statement should also follow. AND THEN, the numbers that do print out to a 199A summary form in the return documents are deducting the depletion even though it is being paid to the beneficiary.
3. SO, when I rebuilt this year's return for yet a 3rd time I answered "NO" to the question (paraphrasing) "Is this income eligible for QBI deduction consideration?" which popped up after the entry of each payor's 1099-misc, figuring I'd just get rid of the QBI question altogether. SURPRISE? all of the income that I entered was STILL being treated as QBI income. So, TT didn't allow me to bypass the QBI deduction. WHAT IF THE INCOME WASN'T ELIGIBLE FOR QBI DEDUCTION CONSIDERATION? TT would have me claiming a deduction for which I wasn't eligible.
Like I said.... some serious issues as yet unresolved AND unacknowledged in a useful way.
