ESPP/RSU issues on Turbo Tax 2020

[JoshB1]

1. Wish the subject was not set to solved - this is not solved
2. Has anyone figured out how to force the creation of the additional 8949 form when entering the "Compensation income, capital gain (loss) amounts already determined (Go to Part VII of the Employee Stock Transaction Worksheet) which would then fill in the adjustment on the Schedule D? 
   1. I haven't figured out a way to force this
3. Have people just settled for using the the TurboTax calculated adjustment: "Compensation income, capital gain (loss) amounts not already determined (complete lines 12 through 14)" on the Employee Stock Transaction Worksheet? 
   1. The risks are it is slightly less accurate, correct? In my case, I honestly think this is not a huge delta 

Finally, I guess its also not worth it to me to spend hours with TurboTax Customer Support trying to explain this bug - its too bad they don't review or have Support Community resources replying in these threads....

[annieland]

I notice with RSUs, TT doesn't take into account Dividend Equivalents also released, and in our case, apparently used in part for tax withholding.  So the Total RSU compensation on the W-2 doesn't match TT's "calculated" amount.  It won't let you adjust it either.  I see it did the same in 2019.

Anyone know if this is the correct input?  I can't figure out if I'm being doubled taxed on the dividend equivalents as it's already in the W-2 Box 1, and TT is only counting the gross proceeds of the stock shares.  The amount on the 1099-B Worksheet in the box matches the W-2, though. 

[DJG]

@bbodb1 

I agree with all your points, except it turns out TT does actually have a customer support mechanism that works well:  they call it the Office of the President (although I suspect it's really just a premium customer support group).  I discovered it by emailing Intuit's CEO directly, but you can actually reach out to them directly via  OfficeofthePresidentVoiceoftheCustomer_ at intuit.com.  They provided a very good customer service experience (competent, knowledgeable, responsive, etc.), even if I wasn't ultimately satisfied with their decision to stick with transaction-level rounding. 

Why doesn't TT provide that type of customer service to everyone who calls for support or posts a Q on the message board?  Time and time again over the years, every other time I've contacted TT for help, I have been *deeply* unsatisfied with the experience.  My recent experience with the Office of the President proves that Intuit does understand what good customer service is and that they are capable of delivering it, so it really begs the question:  why not just provide that type of support to all your customers, rather than waiting until they are so deeply frustrated and angry enough to email the CEO?  

[nestornot]

How did you solve this? I keep having this problem. If I do what turbotax tells me, then I end up paying $0 Taxes in or very little in my ESPP Capital Gains. It just does not make any sense.

[Lorri]

torchill

Have you resolved your issue, yet?  Sometimes, when using software for a number of years, or when we feel confident, we dismiss or do not read the flow of questions that are asked of us. 

Here are a couple of things I did not see addressed in my cursory glance over comments.  First, online software needs to be up to date, to properly calculate and reflect any software updates that may have occurred.  If you are using turbotax online, these updates occur each time you sign out /sign back in, to your account.  For turbotax desktop, you will need to save your file and accept updates.  Make sure you do this prior to filing your returns.  We have seen a lot of tax legislation changes over the past few years, making this more critical.  Secondly, you will need to make sure you clear your cache and cookies (check online how to do this for apple products, but for PC it is CTRL+SHIFT+DELETE and clear for all time).  This should help clear the "cobwebs" from your web searches.

If you are having trouble having your stock properly reflect the cost basis, you can make an adjustment if your basis reported as ordinary income is not reported on your 1099-B tax form.

[torchill]

Thank you for the input; however, the errors WERE 100% agreed upon by turbo tax to be their issue.  I am ALSO not online I am on a computer program and have powered down multiple times.  I honestly don't know if all my issues were resolved as I found ways to resolve the issues so I could file tax return and had turbo tax accountant check it out to make sure it was correct.  It was... 

[bbodb1]

In my case, what you describe is exactly the result I was looking for - we should NOT have paid any additional taxes when entering ESPP sales. 

The reason why is the profit was already calculated by the broker who handles stock for company employees and that profit was added to my spouse's income (therefore already reported for tax purposes).  TurboTax was never clear on how to properly handle this situation but as updates were published, I would retry the calculation until I saw the desired outcome.  It was on that outcome that I filed our taxes. 

TurboTax definitely needs to address this for TY 2021 if they want to keep my business. 

[markie44]

I am using the Mac version of TT Premier. I remember I was able to enter a form 3922 for t/y 2019. I already filed my 2020 return and just today found my documents from ESPP/RSU income I did not report as yet. I fired up TT and went to forms and tried to look up Form 3922. MISSING!

I'm now going to the interview section to see if I can find something there.

[markie44]

Since I did not sell any of my ESPP shares in 2020, I did not get a 1099-B and have nothing to report.