Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
Not unless it's fixed in the latest update (their server was too busy
today). Part (only part) of the issue is their ignoring the AMT loss
limitation, and many people in this market got caught with ISO's that
dropped from exercise value. For a large block of stock, TurboTax
ignores the 3,000 limit, and could give you a 50K or higher bill if
audited. You can still use it and fix this manually, but you have to
know how.
--kanab


As an aside. If you are filing the Schedule AI for Annualize Method of installment taxes you must limit the Capital Losses to $750 in the first quarter, $1,250 in the second Q $2,000 in the 3rd quarter in order for them to annualize to the $3,000. ed
Print the post  

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.