What if TurboTax has a formula/calculation wrong? Who do I contact?

[DoninGA]

Report it here first so that we can determine if the formula/calculation is indeed incorrect.

[gracespop_2000]

I tried. https://ttlc.intuit.com/community/state-taxes/discussion/re-i-received-a-notice-from-my-state-tax-de...

Where can I send the details????

[user17733491813]

When TurboTax is asking questions regarding an installment sale for form 6252, it has you enter the date of the sale.  The date of the sale in my case is 1-1-2025.  When that is input as the date, TurboTax calculates the tax based on the entire $1,000,000 sale instead of the $50,000 that was paid in 2025.   If I put in the date as 1-1-2024, TurboTax calculates the tax based only on the installment payment of $50,000.  

[user17733491813]

In the step by step questions involving  "Sale of business Property" then 

"Sale of real estate, cars, or anything else for which you receive payments over two or more tax years (installment sales)"

"Property Description"

"Date you sold property"  - if you put the current year (2025)  Turbotax calculates the tax based on the entire sale instead of the installment paid in 2025.  It makes form 6252 wrong.  Line 19 , 20, 22 and 24 are wrong.

How does this get corrected?

[DoninGA]

@user17733491813 Doing a test return using other amounts.  Sale Price 100,000 basis of $50,000.  Gross Profit percentage (Line 19) 0.50,  Principal payment received $1,000, Interest payment received $2,000.

(Line 20) 0

(Line 21) $1,000

(Line 22) $1,000

(Line 24) $500

(Line 26) $500

I see no errors on the Form 6252

Have you updated your software to the latest release?  Click on Online at the top of the desktop program screen.  Click on Check for Updates

Current TurboTax for Windows Version 025.000.0279

[user17733491813]

I have checked for updates.  When you did the test, did you put a 2025 date or a 2024 date as  the date of the sale?  That makes the difference.

[DoninGA]

@user17733491813 The date of sale was 01/01/2025.

[user17733491813]

This is driving me crazy! I have reviewed the questionnaire a thousand times to see if I'm inputting something wrong.  When I get to the screen that says "your installment sale income"  It has the sale price 102% of the contract price, yes higher than the contract price.  The installment income should be 13% of the contract price.

should I just give up and call a CPA?

[DianeW777]

It depends. You can obtain assistance if you like and if you are not ready to go forward yourself. Use the information below if you would like to let us review your file.

If you would like to send us a “diagnostic” file that has your “numbers” but not your personal information it would help.  If you would like to do this, here are the instructions:  (Don't forget to give us the state)

TurboTax Online:

Open your return -Go to the menu panel on the left side of your return and select Tax Tools. 

1. Then select Tools below Tax Tools.
2. A window will pop up which says Tools Center.  
3. On this screen, select Share my file with Agent.
4. You will see a message explaining what the diagnostic copy is.  Click okay through this screen and then you will get a Token number.
5. Reply to this thread with your Token number and your state. This will allow us to open a copy of your return without seeing any personal information.

TurboTax Desktop:

If you like, you can send a copy of your return that will be scrubbed to eliminate your personal data by using these steps:

1. Click on Online in the top left menu of TurboTax Desktop for Windows
2. Select 'Send Tax File to Agent'* > Follow the prompts to reach the token number.
   • Enter your email used for TurboTax > Enter your code > Send
3. Write down or send an image of your token number and state then place in this issue.
4. We can then review your exact scenario for a solution.
5. Please also tell us any states included in the return. This is necessary for us to view the return.
   • *If using a MAC, go to the menu at the top of the screen, select Help, then, 'Send Tax File to Agent')

We will be able to see exactly what you are seeing and we can determine what exactly is going on in your return to provide you with a resolution.

@user17733491813 

[gracespop_2000]

There is no Tools option, maybe because I already filed my return.

I'm trying hard to help you solve a problem.