Investment Sales section of Turbotax 2020

[geeAITCH]

I purchased a download of TT2020 Premier from Amazon ( a month back)  and it looks like some sections are not ready for use yet. One such is "Investment Sales". Any idea when this section will be ready? As of today, it is not ready.

I'm also wondering if I need to re-install TT2020 Premier to get this feature. I'm asking in  the odd chance that updates don't pick up such sections that have recently been completed.

Thanks

[DoninGA]

The IRS has not yet finalized the instructions for Schedule D and Form 8949 which would be included in the Investment Income section of the TurboTax program.

When the schedule and form have been finalized the TurboTax program will be updated.  Make sure that your update preferences are set to automatic so that you will receive any updates available when you start the TurboTax desktop program.

See this TurboTax website for IRS forms availability - https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html

[geeAITCH]

Thanks 👍

[smreed48]

2020 Schedule D is available on the IRS.GOV.  What gives???  I would really like to do some "what Ifs" but Turbo Tax WILL NOT even let me input the data manually.  That's why I bought this today.  This unavailability of forms, impacting data entry, has never happened before in my 20 years of buying TURBO tax in late December.  This is a FAILURE on Turbo Tax's part!!  I should be able to input the data!

[DoninGA]

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@smreed48 wrote:

2020 Schedule D is available on the IRS.GOV.  What gives???

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The IRS instructions for Schedule D are still for tax year 2019.  Until the IRS finalizes the instructions for the 2020 Schedule D then TurboTax cannot provide a finalized Schedule D in the software.

Go to this TurboTax website for IRS forms availability - https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html

[h2ofun]

You posted end of Dec was not ready yet. It is now march and I still cannot find this so my 8949 stuff gets done correctly.  Am I doing something wrong

[smreed48]

I was upset that TT didn't have a temporary fix in place prior to end of 2020. I use Fidelity and Schwab and both were available by Feb 19. You need Premier or above to import your data from your broker. Go to Fed taxes, Income Summary, Investment Income, and start stocks...

Add sales, receive 1099-B: yes, check import from bank or brokerage, continue, select your brokerage, continue, and log into your brokerage as you normally would.

The default is to download more than you may want. Just check what you want.