ESPP/RSU issues on Turbo Tax 2020

[bbodb1]

I am fighting this issue as well - and I am completely lost.  Clearly, I can tell the calculation TT is making on my gain from our ESPP sales is way too high but I have had no luck in trying any of these solutions yet. 

As I was searching the solutions to date, I stumbled across this: https://turbotax.intuit.com/tax-tips/investments-and-taxes/empl[product key removed]ase-plans/L8NgMF...

..and since we had 3 disqualifying dispositions in 2020, I worked through "Situation 1: Disqualifying disposition resulting in short-term capital gain" and generated my three sums from each sale.  TT is reporting a MUCH higher number than this calculation is producing.

This is beyond frustrating - and I am to this point where I will strongly consider other tax products next year.    But for now, can someone confirm that the calculation using the Situation 1 methodology above produces the total gain that should be reported?  Thanks..

[gordontull]

Yep, I pulled my lack or hair out today on this with TT for Mac for many hours today.  I first thought it was a data import problem and started over manually keying in the data with the same result. I've used TT for many years.  I particularly rely on it for ESPP and RSU calculations.  Otherwise, my taxes are pretty easy.  I hope for a fix soon.  For the time I put into this, I might as well do my taxes manually.  Or find another tax company.

[Owens204]

I am still having an issue with "Turbo Tax Home and Business 2020 for PC".  I believe I put everything in the correct way based on their screens, but my Form 8949 is not populating an "Adjustment" for the discount that I received and am including in Ordinary Income.

[BryanL1]

So glad I found this thread and thanks to everyone for trying to get TT to fix this issue. As of tonight, 2/17, the issue with ESPP ordinary income not getting applied as an adjustment to gains on Form 8949 is still occurring, at least on the Windows download version I am using.

Interestingly, the correct adjusted cost basis, gain, and ordinary income shows up on the "Emp Stock Wks" for the ESPP sale. However, then the adjustment disappears from the "Capital Gain (Loss) Adjustment Worksheet" and Form 8949. Definitely a bug within TT and not a data entry error since the Emp Stock Wks shows that they have the data captured but are failing to utilize it in all of the correct worksheets.

[I Hate How Taxes Are Complicated]

Unfortunately, it seems like today's update for Premier for Windows (2/18) still didn't fix the bug....  TT really needs some kind of issue tracker this kind of thing

[torchill]

I called to TT again yesterday.  During that call, they agreed there was still an issue and they opened up a case ID; however, they immediately closed the case in an email about an hour later, but did NOT tell me anything why it was closed!!  I think this will never get fixed!!!

[binhvo]

I am glad I found this thread because it drove me nuts last few days.

So I just deleted what I imported from ETrade and manually entered my ESPP and RSU transactions. Everything came out correct now. So I think the problem is with the import function. Just a guess...

[bbodb1]

@binhvo- that is my experience as well.  We had 4 ESPP sales to enter for 2020 and instead of using the import function, I manually entered the details of each sale by walking through the interview process four times.  On each run though entering the data manually, TT calculated a cost basis on each sale that appeared to be reasonable (I just can't use the word correct there...)  and I went with that.

Prior to doing this, when using the import function, the first ESPP sale seemed to calculate the cost basis but the second and third sales each had a calculated cost basis of zero dollars.  I know that was not correct....

@TomYounghas commented on this issue in other threads and he seems to be a very busy lad around these parts.  If I understood one of his posts on this issue correctly, that was what lead me to the solution I used above. 

Whether that was right or wrong, one indicator I kept track of was to make sure TT calculated a cost basis of something other than zero for each sale. 

Best of luck with this.

[teksplorer]

For me, import was never an issue because my employee account doesn't support direct import into TT.  Even with manual entry for me I ran into the issues where the compensation income was being calculated to $0, or the wizard was using data from an earlier ESPP transaction

[annieland]

I recommend doing what @teksplorer advised.  Yes, it's stupid that we have to, but I want this done with.  Now that my ESPP and RSU transactions are available for import from E*Trade, I started over, deleting everything I had put in my original and "draft" forms.  I imported everything fresh, and didn't have any issues with the RSU transactions.  With the ESPP's I updated the forms manually and everything matched up.  I only had 3 transactions so it wasn't a huge drag.  It got a little nuts because the company stock split in the middle of last year and the 1099-B has the original numbers and the 3922 has the adjusted for split numbers, but I just went with the 1099-B as that is what is reported to the IRS and used the release forms for the 3922 info.

Phew! Now I have to deal with a disaster of a 2 year old ISO payment...

[CPSMCapital]

@teksplorer solution is the real solution.  I feel the other workarounds mentioned will lead to undesirable results while this one will give you the same end result as when TurboTax finally fixes this bug.  Great solution and totally agree that TT should fix this ASAP.

[brazilian_sf]

I'm having issues with ESPP reporting also. I have multiple ESPP sales and the values are being cloned between them -> the last value I enter sticks, all others are reset.

When I enter the additional information in 1 ESPP sale it works correctly, even though I think the cost basis is wrong (it should not be 0). Then I go to the next ESPP sale (different entry), it comes with the value of the first entry pre-filled. If I update it, then the old entry is updated. It's as if there was only 1 ESPP entry for all, even though they're individual entries, and should have individual values.

If I specify that they come from multiple lots, and enter only 1 lot, then Check Errors fails because it expects a 2nd lot that does not exist.

This is very buggy, please fix it.

[JET34]

i totally agree w/ you!  These transaction-types are pretty much the main reason i pay-up to get the Deluxe version of TT, and when it doesn't work properly (causing 3 days of angst), it really rubs me wrong.  

Thanks to this community, i'm thinking a lot more rationally, now.  Manual entry into forms, or wait for an update to addres ... i'm gonna wait another week, i think.

[teksplorer]

Just to let you know, I don't think Intuit monitors the forums.  They will not take action based upon these posts.  The only real way to get them to fix this bug is for folks to call in and report it.  The more folks who call in, the higher the chance that they will fix it.

[krt2]

I tried deleting my imported stock transactions and entering them each manually.  It worked great for the first ESPP transaction. But when I got to the 2nd one, I had the same problem.  As soon as I got to the part where I was entering details it showed the info for the first transaction.  It was still all screwed up.

I just need TT to fix this issue. That's why I use Turbo Tax, so I don't have to be a Tax guru to file my taxes. 

Is there a way you can be notified when they fix the issue?