Just received the same rejection message, and as another posted, I did not inherit an IRA nor indicate that I did. When looking at "check E-File status", a statement indicates "We are reviewing updates to taxable inherited IRA calculations. We expect to have these updates done by March 5". Perhaps this is an indication that TurboTax, in fact has not been fully updated for filing when one has a normal IRA distribution?
I was the one who posted a few minutes ago. Yes, same thing .. a problem with an inherited IRA that I do not even have.
I am going to wait until March 5th, to attempt a resubmission based on the message indicated in "check E-File status", assuming the program has an update on or about that date.
Same here...
I have a Traditional IRA, with some non-deductible contributions (form 8606), for which I had a 2020 distribution. I do NOT have any inherited IRAs.
But the IRS rejected my e-filed return. When I open the return in TurboTax Premier a message states "There is a potential issue with the calculation of your Taxable Inherited IRA. We are reviewing updates to Taxable Inherited IRA calculations. We expect to have these updates done by March 5th, 2021."
Like others, I guess I will have to wait until the 5th, and check for updates to the software again, then roll the dice again.
I think I'll bookmark the web site for TaxAct... just in case.
I received exactly the same message a few minutes ago. I have income from IRA to Roth conversion but no inherited IRA.
Also told that something will be calculated by March 5. It must be a bug in either TurboTax or IRS software that is rejecting returns for no good reason
My distribution (also described in this thread) was also for a Traditional IRA => Roth IRA conversion.
Interesting.
Just got rejected for the same reason. Do not have an inherited IRA.
Did a tIRA > 401k rollover and also a non-deductible tIRA > Roth conversion.
Would love some more information from TT on what the issue is here.
I just got the same error for the same reason: tIRA to Roth conversion. No inherited IRA
Is that the complete reject message? Is there a reject code?
Reject Code FED_Taxable_Inherite
FED_Taxable_Inherited_IRA - There is a potential issue with the calculation of your Taxable Inherited IRA.
Reject code (maybe?): FED_Taxable_Inherited_IRA
But I do not have an inherited IRA
Same happened to me. Wife & I both made non-deductible contributions and backdoored them to ROTH IRAs. Same procedure as previous years, I removed & reentered all IRA & 1099-R info and refiled. Fingers crossed..
Same Problem! Fed Return Rejected due to
"FED_Taxable_Inherited_IRS". Like everyone else, I did not inherit an IRA!
To Turbo Tax: please fix this as soon as possible.
Thank you.
ASB
I had the exact same problem today. Non-deductible IRA to Roth conversion. Not inherited.
When I checked the filing status after receiving the email notifying of the rejection, I received the same message as others re Mar 5th. About an hour later, I checked the status again to get a screen shot and it is no longer there -- ie, TurboTax walks me through e-filing steps again.
How will we know when a fix is in place? Has anyone tried to re-file?
Same issue for me.. Can a Turbotax expert provide an input on what this issue mean and how they plan to fix it? thanks.
Same problem here - my return was just rejected with same reason cited. I did not inherit an IRA (and checked "no" to the Inherited IRA question in the TT software). Only did a conversion from my Traditional IRA to a Roth. Must be a TT software problem...
Fed was rejected due to non-existent Inherited IRA.
Details: My wife and I each have traditional IRAs, have distributions (partially taxable), have correct 1099-Rs (no Roth) and each have Form 8606. Same situation as in prior years and has always worked fine. Will wait for TT to fix problem (March 5?).
But State was filed concurrently and is now "Pending". What happens there? Fed 1040 accompanies (is "part of") State return. Will State return be rejected? Whether or not it's rejected, will I have to re-submit the State return?
TT, please provide answers. Thank you.
I filed simultaneously Fed + NJ +MA and all 3 were rejected at the same time because of the Fed rejection of the non-existent inherited IRA. This must be a TTax bug. Will it be fixed by March 5? Will they let us know when it is fixed?
Reject code (maybe?): FED_Taxable_Inherited_IRA
But I do not have an inherited IRA
Does this problem also occur with the download version?
I will hold off filing until I see on this forum that the problem was solved.
I use downloaded Deluxe version to PC running Windows 10. Same problem.
Does Turbo Tax ever read and/or respond to any of these messages? Is there any way to formally report this problem? I hesitate to keep "resubmitting" my return since I think we're only allowed to do that a few times (5?). I shudder sending a stack of paper to the IRS and to CA's FTB.
Don't worry about that. I don't think an e-file counts unless accepted. I've now done 8 e-files with 8 rejected. I haven't dealt with so much rejection since high school.
It is unlikely that anyone from TT is actually going to see this thread and act upon it. If you've got a couple of hours to kill you could contact support. This works better if you have Premier, but the best likely outcome even there is to be told it is a known issue. I spent several hours with Premier support regarding an issue where Turbotax is not transmitting Form 1116 "Various" as year-end date, leading to most of those rejections, and Premier support never did give me even that satisfaction.
Regarding state, it could very well be that your state requires that they be submitted together, but I know I'd never submit both but instead wait for Fed to be accepted and then file state.