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Business & farm
I'm in the same boat with this as well. Turbo Tax (and even their 'tax experts') are quite vague about this. I have a shareholder basis worksheet that needs to be filed. I generated a capital gain for distributions in excess of basis. Turbo Tax (premier) asks NOTHING about this information. I included the gain manually on Schedule D. And I will hope for the IRS to ask for the Basis Worksheet if they require it. It seems like it would be a simple matter for TT to collect the information from the basis worksheet.
‎April 28, 2021
10:55 AM