How is it remotely possible Turbo Tax Premier doesn’t support Opportunity Zone investments?

[tagteam · Accepted solution]

No version of TurboTax supported Form 8997 for the 2019 tax year (or 2018, for that matter), so it is not exactly surprising that it would not be supported for 2020.

[Critter-3]

Sorry but some things are used so infrequently that they are not worth the cost to include them and the form 8997 is one of them.  You can add a manually calculated form to the downloaded program however the return will need to be mailed in.  There was some discussion here :   https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/qoz-qof-form-8997/01/...

[jfbutcher2]

Other software providers support Opportunity Zone (Tax Act) so not really sure why it is not supported in Turbo Tax even if not frequently used.   There are a lot of forms not frequently used that are supported.  You will be losing one customer.