Will Depreciation and Amortization be ready soon?

[user17702729688]

I’m sure I’m not the only one, but you’ve lost a customer with this issue

[jnfrench]

I saw February 13 as the latest ETA.

[tmorawiec]

curious if any other tax prep softwares are having the same issue with depreciation? has anyone checked? to Intuit, how do you plan on accomodating your customers for their inconvenience? will you offer a discount?

[jnfrench]

I also like to get my taxes done early, and I eagerly await that module. But I don't think mid-February is unreasonable. Many investment companies and banks don't have their 1099s available for import until sometime in February.

[dhuber24]

This isn't about being reasonable. It's about communicating expectations. Their platform mentions that Depreciation will be available BY February, if not sooner. So asking why it's not available (it is February), is not unreasonable. In fact, I'm just asking for clarification of what THEY communicated.

[jnfrench]

Understood. I am just communicating that I am not that surprised, and I am not going to be concerned yet.

[LigoQuantus]

I am having the same issue as all the other commenters here and am experiencing frustration.

This is not the most useful of responses.

In my case, a property was sold and I am unable to report the sale as I know is required by the IRS. It is the only thing holding up my return.

I am quite sure we all understand that these things happen, but the main issue here is the clash between what was promised (February or sooner) and reality. 

Please provide a firm date for updating this section of Turbotax so that we know when to log back on and finish our returns. Of course, if it happens sooner than this firm date, everyone will be thrilled. The problem is when we're told a date and it doesn't come to fruition in reality at said date.

Thank you.

[emidec]

You lost a customer. Tired of this kind of BS from TurboTax. The only reason I stuck with you guys it's because it's easier to import an older return than starting from scratch but this has finally pushed me over the bar of preferring to start anew.

[user17701419133]

1099s (most types, including 1099-INT, 1099-DIV, 1099-B, 1099-NEC, 1099-MISC) are legally required to be sent (i.e. placed in the mail or made available electronically) by January 31st.  That's why a lot of people do their taxes the first week of February. 

[jnfrench]

How is this related, please?

[user17701419133]

@jnfrench This was a response to your comment that "Many investment companies and banks don't have their 1099s available for import until sometime in February."  I was simply pointing out that those 1099s are in fact legally required to be ready by January 31st.

[baldietax]

if that were true a lot of brokerages are breaking the law!  1099B and consolidated 1099s are due by mid February not 1/31 which will be a big hold up for a lot of people.

I'm not doing anything til end Feb, all this forms noise and issues should be stable by then - it's been clear since the initial release last year that this tax season would require some patience.

[jnfrench]

@user17701419133 I completely understand that. I mentioned that they are not available for import electronically until later in the month. So people like me, who like to do that, can't finish their returns anyway until later. I also understand why people start their taxes early, and I am not trying to defend the company. I am only saying that a few days later isn't a big problem, and I will be concerned if it goes on too long. 

[jnfrench]

@baldietax Wise words. 

[user17701419133]

@baldietax You are correct!  Jan 31 is the common default for many 1099s, but 1099-B is generally due to recipients by mid-February per IRS General Instructions.