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Level 3
posted Mar 16, 2022 10:45:19 AM

TurboTax 1031 exchange processing hosed!

I just spent an entire morning trying to figure out why my calculated tax has gone from a refund of about $12,000 to $66,000 tax due.  After checking every entry on the new property Schedule E's and the Asset worksheets for the old and new properties, I ran the federal check.  The answer was that the Form 8824 is still being updated and won't be done until two days from now!
Wouldn't it be nice if they told you that up front?
INTUIT - GET A GRIP!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

0 4 667
4 Replies
Level 15
Mar 16, 2022 12:14:53 PM

I agree; the program should have informed you that the 8824 was not yet available.

Level 3
Mar 16, 2022 2:19:51 PM

Thanks - good to know I'm not losing my mind!

Level 2
Feb 13, 2023 7:47:05 AM

And here we are in 2023 with the same problem.

Level 15
Feb 13, 2023 7:50:38 AM