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Investors & landlords
I would be surprised if TurboTax added this form. Honestly, nearly all taxpayers required to file this form shouldn't be doing it themselves. It is an extremely complicated form. I think TaxAct's support for the form is limited to some small number of entries, which is almost impossible for anyone who has PFICs since you have to report every transaction on a per share basis. TurboTax is aimed at the masses, and 8621 isn't a form that many people file. It's an awful lot of complex programming for a form only a few people need (who will probably all screw it up, and them blame the program.) Huge liabilities there, too, if it's done incorrectly.
‎April 17, 2022
4:30 PM