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Tried again with no luck. Spoke to Turbo Tax support and they still have no idea when it will be resolved other than in the Feb-March timeframe.
@RobertB4444 and others: there is another thread in the support forums where hundreds of folks are impacted and struggling to understand status. Please see the discussion for: federal-return-rejection-reject-code-f8960-019-04-processing-error-form-8960-net-investment-income/ (I am unable to provide a full link)
Folks on that thread are somewhat desperate for someone from Intuit to provide some insights and guidance, and unfortunately lots of folks are finding that filing with other tax software is solving their ability to successfully eFile. Help!
thanks
If you want to go ahead and file to get the refund for your closing costs, you can delete whatever is feeding into that form 8960 in that specific area that is "glitched." For example, just delete a 1099-nec, and go ahead and file without it. Then, file an amendment and mail it in with payment before the April deadline.....it's really not that difficult to file and amendment.
The official IRS page lists the resolution date as: sometime in late February to mid-March 2023.
The list can de downloaded here: https://www.irs.gov/pub/irs-schema/ty[product key removed]s-and-solutions.xlsm
It is a known IRS issue. Click here for known issues.
Looks like it will be corrected in late February to mid-March. This is not TurboTax but a known issue rejecting returns, try not to get rejected to many times before it will not accept, and please report all forms as instructed and applicable, per IRS guidance.
Add me to the "watch list." Same exact issue that you are all describing. Driving me bonkers! Two rejections... and I'm a guy who does NOT handle rejection well. Lol. Ok... I'm going to take a deep breath... enjoy a shot or two of good bourbon and wait a few days to see if this matter is resolved. Please ANYONE... if you see if and when this matter is addressed please post it!
One more quick thought... our previous tax returns that are really quite consistent in scope and manner have NEVER generated a 8960 form. We've done nothing new this year. (E.g. we have had interest and dividend income in the past but that income has never generated this form. It's just been added to our gross income figure.) Is the 8960 a new form or is information we are entering on other sections of our return incorrectly generating this form?
Form 8960 for net investment income tax has been around for more than ten years. It is generated when you have investment income and your income is over $150,000 married/joint or $200,000 single filer.
Feb 7th
Issue not fixed
I don't think its the form, as much as certain things that hit it. I removed the 1099 nec and still had dividend income on the form, and the tax return went through. I will turn around now and file an amendment for the small amount associated with the 1099nec. I was not about to wait until March for my refund because of some stupid form glitch!
Thanks Swansea7. Let's keeping posting each other on this one. (Maybe we should set up a betting pool on if and when this gets resolved!)
I expect more from Turbotax. If the same return can be submitted using HR Block, then TT is partially at fault. What is TT doing to get around the error? I have not heard this point. Also, the issue seems to be around for over a week. TT should provide much better error messaging. The error message they just transferred from the IRS is poor. And, this seems to be affecting many TT customers. I would like to know more than just suggesting to wait.
I'm trying to file using another provider, but TurboTax won't give me a refund because I didn't use their CD or Download product. What a joke. I will never use TurboTax again after this experience.
"We are unable to process the refund for TurboTax Online product Case #### because our Satisfaction Guaranteed policy only covers TurboTax CD/Download products. TurboTax Online is designed not to charge the customer until after they choose to file, so it is not covered under the Satisfaction Guarantee."
I've tried to remove the forms. I have been on the phone with several agents and I am at my wit's end over this.
Tried to submit today. Rejected. If I had not already paid the fee I would use another tax platform.
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