Sch NJ-DOP: column d - Price cannot be greater than the federal amount

[NJHero]

I narrowed the issue to two factors

1. Investment import from Fidelity 

2. Specially transactions associated with options

I deleted all my investments,  reloaded investment tax info from each institution individually and navigated till NJ tax filing. 

Investments uploaded from ETrade, Charles Swab are fine and no issue observed, when the Fidelity investments are uploaded, NJ tax review screens throws an error. I think TT is not parsing the data from Fidelity correctly.

Work around - don't report transaction level for Fidelity,  aggregate entire year gain/loss and report it as one transaction. 

[alanhelm]

Thanks NJ Hero. I have the problem with the import of options from tastyworks. And this only started happening with the last TT Premier update I did on March 4. So we need a software fix and update from TT.

[TPM04]

Thanks, NJHero.  You're on to something but my situation is a bit different - I've localized it to E*Trade, but it definitely has something to do with options strategies.  The three exceptions it's thrown for me are situations where I rolled covered calls to prevent my shares from being called.  Very frustrating that TT can't handle this correctly. 

[silver8ack]

I agree that it’s to do with option strategies… namely selling of options I believe. I don’t think it’s Fidelity specific. I have Fidelity and others but Fidelity is the only one I don’t have option transactions 

[silver8ack]

Also…. You can’t report the data in aggregate if you have any wash sale adjustments, correct? I believe I have a few of them on the accounts with issues. 

[Deborah_Sawyer]

I would try deleting the 1099-B that is causing the issue, and enter it as totals instead.  Do not import it.

[ngozman]

TT issue with NJ-DOP is not broker related. It happens when short option selling results in loss.

Brokers report shop options selling to IRS with cost basis set to zero like when option expired worthless. This normally happens unless you have to buy to close short position. In Proceeds column (column d on fed form 8949) brokers send gain or loss. So, in case of loss this number is negative! In 2020 TT gave error in fed form 8949 when this number was negative, it was fixed later. At the same time in 2020 NJ-DOP had zero in column d and that didn't cause any error. 

This year TT programmers has wrong requirements that NJ-DOP must match fed form 8949 in columns d, e and f! It won't match in such cases. Program should only match columns f, which is bottom line - gain or loss! 

Easy fix. I am telling as a programmer who worked for 30 years for one of the brokerage houses. 

Nothing is wrong with form NJ-DOP as it is now in TT. It is only TT who claims it is wrong. 

[NJHero]

In my case, Fidelity is not providing cost basis on many option transactions (only gain/loss is provided), TT is throwing error on losses that doesn't have cost basis. On TT, I manually updated option transactions that has losses with actual cost basis and proceeds using historical statements.

It does take 2-3 hours to track all historical transactions, if you are in a hurry to file then it is worth an effort. Not sure when TT will update the system again.

[silver8ack]

What do you mean you updated the cost basis? If you sell a put/call/shares to open, you don’t have a cost basis. So it should report as zero just like on the federal. 

[silver8ack]

@NJHero are you saying the cost basis was blank, rather than having a zero?

[ngozman]

What is cost basis on your federal form? If it is zero as it is supposed to be then NJ-DOP column d will be greater than federal amount and TT should give you an error.  

[alanhelm]

Folks this error started with the latest TT Premier update (I updated on 3/4). It was not an issue prior. TT needs to make a software fix and provide an update as ngozman states above.

Will a TT representative please reply to this thread to let us know what the status is for providing a fix.

[lenamonj]

Same problem here, so frustrating TT hasn’t addressed this 

[TPM04]

It's not just TT Premier - the Deluxe version has this issue, as well.  It should be a simple programming fix, c'mon TT, get with it already...especially since you charged us for the privilege to e-file but your software won't permit us to with this error!

[shaomei16]

same issue here. I talked to the support 4 times.  last agent told me it was fixed from TT side. the worst I need to do is to delete state tax and start over. I started over twice and it still didn't work. 

today the agent gave me this link. so it is not fixed.

right now still on call waiting for tax specialist help to see what I should do.

VERY FRUSTRATING!!!