When I key-in input the "Fed Tax Due" display doesn't change. It doesn't update until I do "Federal Review" the return. I have had this happen on previous versions of TT that required me to make a selection on the "command line". I don't recall how to do this. Searches for information have been fruitless.
Look in the REVIEW tab ... you have many forms that are not fully functional yet and as such the program will not work well until they are all ready to file. There will be many updates between now and the opening of filing season in late January so check back later.
Although TurboTax may allow you to e-filed some returns as early as 1/6/22 (IF the forms in your return are ready for filing … see info below) they are NOT actually sent to the IRS. TurboTax stores those early filed returns in a holding “POOL” until the IRS opens for business and “drains the pool” for processing ... only then will you get an e-mail telling you if the return was accepted or rejected by the IRS.
Only the simplest returns can be transmitted to TurboTax early. Some forms will not be finalized until Jan 25 and some later than that.
https://ttlc.intuit.com/questions/1908854-forms-availability-table-for-turbotax-federal-products-exc...
Why does TurboTax allow early filing? Because their competitors do - It is a marketing ploy to capture market share.
Filing early with TurboTax before the IRS opens is a really BAD IDEA for many reasons...
1) If you discover something that is wrong on your return, receive a W-2 that is different, receive some other tax document that was not on the return that you filed then there is NOTHING that you can do about it other than wait to see if the IRS accepts or rejects the return after they open. If rejected you can correct and file again, but if accepted then the only remedy is to amend which can take at the very least 4 months to process.
2) You must remember to check back after the IRS opens (or check for an e-mail) to confirm that the IRS has accepted or rejected the return. If rejected, then it was never filed at all and must be corrected and re-filed. Every year many taxpayers that file early, forget to check back and only discover months later that they never actually filed because if was rejected by the IRS but they had forgotten about checking back after filing with TurboTax.
3) While the IRS does conduct some pre-opening tests and does accept some returns early (ONLY for TESTING purposes), they will not actually process those until after the official opening date. The reason they do testing is to discover any problems with their systems. A couple of years ago a test went bad and several thousand "test" returns were lost. The IRS was able to recover those but it delayed refunds for some by months.
There is no real advantage to file before the IRS opens but there are several disadvantages to doing so.
When will my forms be ready?
Historically, IRS tax forms start becoming available in January, with a few stragglers (most notably Form 1040X) getting finalized in February.
State tax forms can become available for filing any time between December and late February, depending on the state and the tax form.
For specific forms and dates, refer to the Forms Availability Table for your TurboTax product, see the related information below.
Can I Still Work On My Return Before My Forms are Ready?
Yes, according to the following:
Federal Taxes
You can still work on your return and finish most of it. Once your forms become available, we’ll create the forms and include all of your info.
You’ll only be able to e-file or print your return once the forms are available.
While you’re working on your return, we’ll ask if you want to receive email updates when your forms become available.
State Taxes
If your forms aren’t available, you’ll get a message asking you to return once they become available.
While you’re working on your return, you’ll have a chance to let us know you want to receive email updates when your forms become available.
Waiting for the final form update is not the issue. The problem is that TT doesn't calculate in real-time. Somewhere in the software there is an option to only calculate when the final review is performed. I don't recall how to turn on/off this option.
@robertshanebrook wrote:
Waiting for the final form update is not the issue. The problem is that TT doesn't calculate in real-time. Somewhere in the software there is an option to only calculate when the final review is performed. I don't recall how to turn on/off this option.
Don't see how you would have this problem with the software. I have used the TurboTax software for over 15 years and the Taxes Due or the Tax Refund will always change when I add or remove income or add or remove taxes withheld.
Create a fake W-2 and add $50,000+ of income and/or $10,000 of federal taxes withheld. The federal taxes due or refund should immediately change.
Sometimes you have to finish a section for the "Refund-O-Meter" to make a change and other times nothing changes because what you entered didn't change anything. This happens a lot with the deductions & Credit sections... until you enter enough Sch A deductions nothing will change or if you add more deductions than needed you will also not see a change. If you use the downloaded program you can switch over to the FORMS mode and actually look at the forms to see what is happening.
Also remember that the form 1040 is really just a long math problem and until you enter all the parts of the equation the finished product will not be reflected in the end result. IGNORE that meter while you work ... it is only accurate when you have completely finished the return and have cleared the REVIEW tab.
Somewhere in the software there is an option to only calculate when the final review is performed. I don't recall how to turn on/off this option. Stop looking ... there is no such option. All you can do is turn off the annoying and confusing Refund-O-Meters.
The reply doesn't apply to my question. My question is how can I activate real time calculation of the refund/taxes due. It has nothing to do with the availability of IRS forms.
Do you mean the refund meter is not showing ... if so click on "show my refund so far" ... otherwise that meter will only change when you entered something and complete a section which affects the bottom line. It is possible that the meter will not change with every screen change and that is normal. Have you even entered in any income yet ?