Reject Update Today

[jebartlett1]

Not sure if this is good news or bad news.  But this morning I am getting a new message when I go to the "Fix My Return" button.  At least there is some acknowledgement on the part of TT that there is a problem.  

Description of error:

If Form 8960, 'Net Rental Income Or Loss Amt' has a non-zero value, then it must be equal to Schedule 1 (Form 1040), 'Rental Real Estate Income Loss Amt' unless all of the following conditions are true: 1) Filing status of the return is Married filing jointly or Qualifying widow(er) and 2) Form 8960, checkboxes 'Section6013gInd' and 'Section6013hInd' are not checked and 3) Form 8960, 'Filing Threshold Amt' equals 125000.

What needs to be done:

This return cannot be electronically filed due to a processing error on Form 8960, Net Investment Income Tax. This issue will be resolved on February 19, 2023. On or after this resolution date you may resubmit this return for electronic filing.

[SantinoD]

Yes, we are aware of this issue and a fix is in the works. The IRS has confirmed a "Known Issue" in their systems. Please check back after February 19th, there should be an update available to correct this and allow you to proceed to file.