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Investors & landlords
SamLin,
Your response was helpful.
In my case, a family member purchased a small amount of Energy Transfer LP in October 2024.
The family member sold Energy Transfer LP in March 2025 because of this nonsense.
I read somewhere that something did change around 2021 or 2022 and think it may have something to do with Form 8990 and Section 163(j). Maybe this info might help you to investigate further. My knowledge is limited and I can't explain further.
I called TurboTax for help entering the Box 20 info. The letter code selections are limited and you can only choose code ZZ for the rest. I had 8 entries with codes ZZ. Two slides later it seemed I had to reenter those 8 entries, because TT said these items may need to be place elsewhere in the tax return.
However, my TT rep, who said he was a new employee, said anything with a ZZ was not needed and was just for informational purposes. So, why did the screen say the info may need to be placed elsewhere in the return?
The rep also said Form 8990 was only for Businesses not for Individual Tax Returns. Who knows?
In my mind TurboTax is not as good as it once was.
I now have a tax professional doing the return.
As far as the IRS hunting you down as you explained in your prior post, who is left working at the IRS to care if you paid too much tax and hunt you down? But I do understand and agree with you.