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Investors & landlords
If you read through the Schedule D instructions for 2020 you will see that TT is right here. negative numbers can be put in many fields but not proceeds. The IRS has issued specific instructions that negative numbers in those fields will result in rejected tax returns.
Sometimes TT is able to lobby at the IRS to change these parameters so it could get resolved before the end of tax season or they could possibly program it so that it automatically adjusts somehow but the issue truly is an IRS one in the end.
‎February 16, 2021
5:41 PM