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Investors & landlords
since the IRS needs to revise forms to account for the latest stimulus and considering it's probably understaffed, there are updates to come. TT allows submitting a return, assuming all forms and schedules contained therein are finalized by the IRS, before the IRS actually opens e-filing (for 2019 late January 2020). If you submit before the IRS opens it just sits on the TT server. if you realize there's a mistake you can't recall the return. Personally I wait until an early date in February before submitting. One year the IRS realized that the capital gain/qualified dividend worksheet contained an error and that caused a mess for both taxpayers and the IRS.
‎January 4, 2021
1:53 AM