Why does TT on our Arizona return ask the amount of net LT capital gains for assets acquired after 12/31/2011? Is this a program problem in TT or is it a real question?

dshfsh2 · ‎February 1, 2020

JohnB5677 · ‎February 2, 2020

Arizona has a law (43-1022) that allows certain items to be subtracted from federal income. The effective date was 12/31/2011.

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dshfsh2 · ‎February 2, 2020

OK. Thanks for the reply. But, my mutual funds 1099-DIV only gives the total capital gains distribution for each fund in column 2a. There is no way I can answer the "after 12/31/2011" prompt . Any help there? Or, should I just take the 1099-DIV column 2a distribution total for all 3 MFs to answer the 2011 prompt? TT will accept that for AZ.

JohnB5677 · ‎February 5, 2020

If these are mutual funds, I agree that there is no way to determine when the Fund purchased the stock. However, do you know when you acquired the mutual fund

Assets acquired... will be considered “acquired” when the asset was acquired by the transferor. If the date cannot be verified then a subtraction is not allowed.

From Arizona Form 140 instructions

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Why does TT on our Arizona return ask the amount of net LT capital gains for assets acquired after 12/31/2011? Is this a program problem in TT or is it a real question?