Schedule D and TurboTax Deluxe 2020

[dICK5216]

Turbo Tax is getting worse.  As of 12/26 at 12:49 PM EST Form 1040 is still not ready.  At least that is the message I am getting.  Also in one place it says Schedule D is not ready but the initial log in does not say it is not ready like the form 1040 above.

What is going on?????????

[macuser_22]

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@dICK5216 wrote:

Turbo Tax is getting worse.  As of 12/26 at 12:49 PM EST Form 1040 is still not ready.  At least that is the message I am getting.  Also in one place it says Schedule D is not ready but the initial log in does not say it is not ready like the form 1040 above.

What is going on?????????

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See the form available list posted above.  The 1040 is scheduled for the Jan 7 update. 

[DoninGA]

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@dICK5216 wrote:

Turbo Tax is getting worse.  As of 12/26 at 12:49 PM EST Form 1040 is still not ready.  At least that is the message I am getting.  Also in one place it says Schedule D is not ready but the initial log in does not say it is not ready like the form 1040 above.

What is going on?????????

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The IRS has not finalized the Form 1040 instructions.  TurboTax cannot provide a finalized form 1040 until the IRS finalizes the instructions.  Then TurboTax has to get approval from the IRS for the form to be available for filing.

The Form 1040 is scheduled to be available on 01/07/2021 (subject to change)

The Schedule D is scheduled to be available on 01/14/2021 (subject to change)

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

[dstormoe]

Also super frustrated that Schedule D is still not available on Dec. 30th, I first started getting the will be ready soon message at the end of Novenber 

[Critter-3]

Those forms are never ready before the end of the year ...  

3  work arounds ...

1) use the fully operational downloaded 2019 program in the what if mode

2) use the partially functional 2020 downloaded program and make overrides in the FORMS mode temporarily

3) use the tax caster tool  http://turbotax.intuit.com/tax-tools/calculators/taxcaster  

[bazbsg]

@Critter-3 

1. I remember there used to be a what if feature but I haven't seen it in many years. I tried to find it just now in 2019 Premium but I couldn't. Can you tell me how to get to it? I guess it wouldn't be perfectly accurate because it would use 2019 tax laws to estimate 2020 taxes. Or do they update the what if feature for older versions as new laws are made?

2. For this option would we expect the calculations to be accurate? I'm not sure if the calculations are accurate but only the forms and interview are not available yet or if some of the calculations might not have been updated to 2020 tax law changes.

Thanks...

[VolvoGirl]

If you have the Desktop program you can do a What-If worksheet.  

Go to Forms Mode, click Forms in the upper right or on the left for Mac. Then click Open Forms box in the top of the column on the left. Open the US listing of forms and towards the bottom find the What-if worksheet. It's right under Estimated Taxes.  

Or try…Go into Forms View. Once there, at the top of the left column, click on the icon for "Open Form". A popup window will appear. In the text line, type the word "what" without quotes. You should see "what-if worksheet" appear as a selection choice. Double-click it to launch the form.

[macuser_22]

"WhatIf" is only in the CD/download desktop version (not in the online), and is in the list of forms in the "forms mode".

[DF-24]

Agree with you fully.  If they had true customer service, we might get an answer to this question.  This HAS to be intentional - it can't be by oversight or accident.  Really bad Turbo Tax! And worse customer service trying to get an answer. This is March and they still don't have the form ready? The IRS certainly does!

[DoninGA]

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@DF-24 wrote:

Agree with you fully.  If they had true customer service, we might get an answer to this question.  This HAS to be intentional - it can't be by oversight or accident.  Really bad Turbo Tax! And worse customer service trying to get an answer. This is March and they still don't have the form ready? The IRS certainly does!

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What form?  The Schedule D and Form 8949 have been available for almost a month in the TurboTax online and desktop editions.

[GMHansen21]

I wish they would be clear.  I had historically had auto-renew but realized I was paying $30 more than if I bought it from another source so I discontinued.  Not sure why it is more expensive to go directly thru Intuit than a 3rd party.  Only problem is I need to make sure I am getting Schedules A-F.  Not sure if download vs desktop are same.  Talk about creating customer confusion.  Think I will be moving to another firm for 2021 season -- after more than 15 years with TT.

[VolvoGirl]

Yes the download is the same as the CD Desktop program.  Yes look around for sales.  Costco always has a coupon in January.  Also you can buy any Desktop version even a lower version.  All the Desktop programs have the same forms.  You get more help in the higher versions like for investments in Premier and self employment in Home & Business.

[bazbsg]

@VolvoGirl do you know if they ever have sales before Dec 31? My purpose for buying it early is to estimate my taxes so I can make last minute decisions like IRA withdrawals or conversions that have to by done before Dec 31. This year I bought it early at full price, then was annoyed when later I got a dozen emails offering it at a lower price. If I'm aware to look for sales before the end of this year I might get lucky and buy it cheaper.

[VolvoGirl]

Not from Turbo Tax.  Check the stores for better prices.  And if you sign up for the Advantage plan where you automatically get it each November as soon as it comes out you pay the full price.  So don't sign up for that.  You just have to watch the stores starting in November.  

[M60]

Wait until you retire.  According to Turbotax, the IRS is not done with the retirement annuity form 1099-R yet either.  Turbotax congratulates me on "... getting started early."  Here it is the middle of March.  My taxes are due in a month!  The IRS forms are not ready yet?  Quite difficult to believe that IRS tardiness is the problem here.