Is capital gains deferral with Qualified Opportunity Funds investement supported in turbo tax for 2019?

[tagteam]

Form 8997 is not currently supported.

[jmsandlin]

What about Form 8949? I have IRS instructions for the entries but TurboTax does not recognize the "Z" code for column F. When will TurboTax update the software to recognize capital gains deferrals due to investment in a Qualified Opportunity Fund?

[tagteam]

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@jmsandlin wrote:

When will TurboTax update the software to recognize capital gains deferrals due to investment in a Qualified Opportunity Fund?

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The information I have, currently, is that Form 8997 will not be supported for the 2019 tax year.

[jmsandlin]

Form 8949 is the one needed which is supported. They just don't have "Z" code for column F. 

[tagteam]

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@jmsandlin wrote:

Form 8949 is the one needed which is supported. They just don't have "Z" code for column F. 

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Form 8997 is required to be filed with the return and it is not supported by TurboTax.

See https://www.irs.gov/pub/irs-pdf/f8997.pdf

[contango21]

Since code "Z" is not available and Form 8997 is not supported, does that mean I can't use TurboTax (Premier) to file my taxes this year?  Or can I manually fill in Form 8997 and send that in, and e-file the rest of my return using TurboTax.  Any guidance? Thanks!

[tagteam]

@contango21 Form 8997 needs to be filed with your return; you can always print and mail your entire return.