Schedule D is is putting my total from line 7 (which is a gain from selling some shares of stock) from Part 1 - Short-Term Capital Gains and Losses onto line 13 under Part II - Long-Term Capital Gains and Losses. Line 13 is for Capital gain distributions reported on a 1099-DIV statement line 2a-Total capital gain distributions. My total for line 7 is reported on my 1099-B statement with box A checked The software is then adding these same amounts together and putting them under Part III - Summary and including this erroneous total on line 7 of my 1040.
My short-term capital gain should not be reported under long-term capital gains as well. This is increasing my taxes due and it is a software error in Turbotax. I have contacted turbotax customer service numerous times for help and have had no luck. I tried overriding the error and fixed the form so it was correct, however turbotax then won't let me e-file because it doesn't want you to override their forms.
Turbotax needs to fix this software error. It is costing anyone who had short-term capital gains last year a lot of money. I am surprised there is no discussion regarding this topic. Any suggestions??
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The entry on line 13 of schedule D should be coming from a 1099-DIV entry. If you haven't checked your 1099-DIV entries you should try that first. The capital gains would be entered in the box 2(a) entry. When you speak to a TurboTax agent on the phone, they are required to resolve your issue or escalate the matter so that you get a callback when the issue is resolved. We can't resolve the issue here since we can't examine your tax return.
Here is how to contact TurboTax:
Thank you for replying to my message. I did know that line 13 on Schedule D comes from form 1099-DIV box 2(a). (Mine was zero 0 by the way.) I thought I had put that in my earlier message regarding the software error in Turbo Tax this year, if I didn't, I do apologize for this omission from my earlier message. I have called Turbo Tax support 5 times now and have never been escalated to someone higher up. I have even asked to talked to a manager or supervisor and they said they couldn't transfer me. In fact 2 of those times after talking with an agent for a short amount of time, they disconnected me. The first time I called, the person they were communicating with (the tax expert they said) claimed it was a "tax problem" and since I don't own the version of Turbo Tax that lets you talked directly with a "tax expert" they couldn't help me. This showed me that these individuals on the other end of the phone are not "experts" at anything. They should have gotten me to someone who receives software error complaints.
I have tried to let Turbo Tax know that they have a software error in Schedule D that will cause it's clients to have to pay more taxes than what they owe. It is unfortunate that they don't seem to care or the people I have talked to, don't really understand anything about taxes or software errors. I would think eventually more people who purchased and used Turbo Tax to do their taxes this year and who had short term capital gains will figure this out and realize they have paid more money in taxes than they actually owe because of Turbo Tax's software error. Considering Turbo Tax has been made aware of this error, they might be financially liable for this considering they have done nothing to fix it. I had to manually go in and make the changes myself.
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