ESPP Data Entry Bug on Second Transaction
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jaredtsmith
Level 2

ESPP Data Entry Bug on Second Transaction

I entered one ESPP transaction and all goes well.  I start through the second entry and when I get to the point where it asks for the 3922 form to enter in the additional details it looks like it gets confused and shows the data I entered for the first transaction.  Even when walking into the wizard the share count is wrong when it gets to the step where you enter the details it is pre-populated with the data from the first transaction which is incorrect.  I updated with the info for the second transaction and it looked like it clobbered the record for the first transaction.

 

Please fix this bug ASAP as I have several transactions and this is very annoying.

26 Replies
teksplorer
Level 3

ESPP Data Entry Bug on Second Transaction

Hey.  This is definitely a TT bug (and it really bothers me that TT shipped a product and hasn't yet fixed such a basic issue).  Having similar issues (there is a thread discussing some work arounds, like recording each ESPP sale in a "separate" Brokerage account).

For me I found it works to switch between Step-by-Step view and Forms view part way through the process (I posted it here: https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-espp-rsu-issues-on... ).

"Here is the what I found as a work around. I switch between the Step-by-Step view and the Forms view.
Initially populate the share sale data from 1099-B in Step-by-Step view.
When you get to the the Tell us about the ESPP sale screen, select the employer, click next. It brings you to the "OK, we just need a few more details" screen. Switch into the form view (from that point on don't use the Step-by-step interface for the sale). Manually fill out the Employee Stock Transaction Worksheet with data from your form 3922 for this particular transaction. You should scroll down a little bit and confirm you see the correct Compensation Income in that sheet once you fill out the info.

Switch back to Step-by-Step view. Click on some tab like "Personal Info" (so that you don't proceed through the Step-by-Step for the transaction. Then you can go again to the Federal Taxes/Stock Sales/brokerage screen, "Edit" the transaction you just entered, click through "Next/Done/Continue" (without changing any of the data), until you get to the screen where it says "Here are the ESPP purchase lots we have so far", and it should have the correct info associated with that sale. At least this convoluted process works for me.
Now repeat the process for the next ESPP sale."

jaredtsmith
Level 2

ESPP Data Entry Bug on Second Transaction

Thanks for the pointer on that; I ended up working around it by entering it as if it was a different brokerage account that worked.  All the numbers calculated matched my W2 at the end so I'm assuming it all worked right. 

 

One note for others I did not find any issues with RSU entry I was able to enter a bunch of RSU transactions under a single account with no issue so looks like this just impacts ESPP.

Autarch-of-Null
Returning Member

ESPP Data Entry Bug on Second Transaction

I encountered this same problem.  I ended up deleting all the entries and starting over but using the mode where you fill in all the numbers.  When I was done, it was still showing too large of a capital gain - it tells me that it has adjusted my basis by the bargain element (which was included in my W2) but what it puts into schedule D is still *wrong*.

 

So, I'm seeing two bugs: Second pass through still shows info from the first sale and even if you get everything in properly (manually) it will tell you your basis was adjusted but it was not.

 

I think the best I can do - since basis was not reported - is to calculate this entirely myself and enter the corrected basis and ignore treating it as a sale of Employee Stock.

 

This has worked so well for years - I wonder why they broke it for 2020?

tbonafide
Level 2

ESPP Data Entry Bug on Second Transaction

Yep, I'm seeing this issue on my side as well. Please fix this TurboTax.

LooseMoose
New Member

ESPP Data Entry Bug on Second Transaction

I tried entering in using teksplorers workaround, but by the time I finished entering a few RSU transactions and went back, it had the totals switched up again.  This is a BAD software DEFECT and needs addresses ASAP

jaredtsmith
Level 2

ESPP Data Entry Bug on Second Transaction

Just enter in each transaction as a different brokerage:

 

Charles Schwab 1,

Charles Schwab 2.....

 

That seemed to work for me and is probably a bit simpler.

 

But fully agree this is a bad bug that should be fixed.  I've also used this for years and this is the first year I've seen this broken.

3064jean
Returning Member

ESPP Data Entry Bug on Second Transaction

You are correct! I have the same issue this morning. I sent email to them.......

Toxeus
Level 1

ESPP Data Entry Bug on Second Transaction

I found the same bug.  It's easy to reproduce.  I've sent feedback to TT.  Hopefully they will fix the issue ASAP.

schnauze
Level 2

ESPP Data Entry Bug on Second Transaction

Team, I ran into the same issue and finally figured out to ditch all of the individually downloaded ESPP transactions from my brokerage, and simply enter 1 TOTAL transaction (all total ESPP shares for the year).  Inside of the step-by-step for this 1 transaction you will find a screen where you can enter individual "Lots" of ESPP sales, and use step-by-step for each Lot.  This worked fine and I entered each individual transaction as a different lot.  For some reason, TT has only allowed 1 table entry for all ESPP transactions.

teksplorer
Level 3

ESPP Data Entry Bug on Second Transaction

I don't know if this is allowed under IRS rules (not an accountant here or tax expert), because you are now combining multiple transactions into one on Form 8949.   Since the transactions have different cost basis (which is getting adjusted) and different sale / acquire dates, I think they have to be individually listed on Form 8949.

schnauze
Level 2

ESPP Data Entry Bug on Second Transaction

That's a good point.  In my case I only had 1 sale date for the year, and sold multiple tranches of ESPP shares previously purchased in years past on a single day at the same selling price.  For date acquired, I used the "Various" date and was able to enter all of the requisite info.  I agree that this would not work with multiple sales in the year, and then you should probably use the trick I found in another thread of entering each transaction using a different brokerage name ("Charles Schwab1, Charles Schwab2, etc.") which also seems to get around the bug.  Thank you for pointing this out!

tbg74
Level 1

ESPP Data Entry Bug on Second Transaction

I also ran into this problem and had to use one of the workarounds. I was curious if the latest program update (dated 2/17/2021) may have fixed this, and I tested it out on a backup of my file...but unfortauntely it looks like the bug is still there and it's still grabbing/populating the data from the first ESPP entry when working on the second, and ending up with a $0 cost bais for the second entry. :(

esppecially_annoyed
Level 1

ESPP Data Entry Bug on Second Transaction

I had exactly the same issue.

TT asks a question that are both poorly worded for anyone who had more than one ESPP purchase period in the year.

 

I had two ESPP purchases and sales. When entering information for each sale separately, TT asked "Did you buy all this stock at the same time", and I answered "yes" because the stock in that sale was all purchased in one lot. But if you do that, the answers you give will apply to *all* stock sales, not just the sale that you're entering.

 

The new ESPP workflow is very misleading in a way that is likely to cause people to be double-taxed (or worse) for their ESPP ordinary income, and is worse than 2019 when you simply had to know how to calculate the adjusted cost basis yourself.

dslatcher
Level 2

ESPP Data Entry Bug on Second Transaction

Please please please fix this Turbo Tax.  Can't believe you released a Premier product that does not work for one of the main reasons why I purchased it!

 

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