turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Ask the Experts Retirement/Life Events! >> Event happening TOMORROW!!!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

How do i make the section 1278(b) election in Turbotax Premier software?

This election is necessary for 1099-INT box 10, when buying market discount bonds per IRS publication 550.
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies

How do i make the section 1278(b) election in Turbotax Premier software?

Turbotax does not have that election. so you have to provide the info mentioned in pub 550 and attach it to your return which will require filling by mail

 

How do i make the section 1278(b) election in Turbotax Premier software?

Thank you for your response.  Doesn't make sense to me that turbotax doesn't make that election available and frustrating to have to paper file instead of efiling.  Investment support was the reason why I purchased turbotax premier.  Is there anything in the help section of turbotax that would indicate this?  I have spent a lot of time researching this before I made it to the turbotax community.  

CatinaT1
Expert Alumni

How do i make the section 1278(b) election in Turbotax Premier software?

Here is where you find this information: Are there any personal (individual) tax situations or calculations that TurboTax doesn't handle?

 

This specific issue is the first item listed.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies