Turbo Tax slow updates causing errors

[Ole Red 29]

I was finalizing my taxes and noticed TT showed I owed a $28 penalty. After further review, I noticed form 2210 (quarterly tax payment penalty) was hugely wrong (even had 2020 payment schedule with 2 payments due July 15th). After a little more digging I found TT states the form won't be available until February 17th, so I am assuming before that date it is just wrong? Has anyone else had this problem? Are my assumptions correct? How are people filing their taxes early before the forms are updated? TIA.

 

[RunningBum]

TT must let you file if all the forms you need are available. I didn't need form 2210, for example, which you are blocked on.

I wouldn't worry about 2210 errors until they say the form is ready to use. But you want to be prepared to fill in quarterly income if you haven't already. If you are itemizing, same for expenses.

 

[cathy63]

People who have simple returns can file now. If you need a 2210, you don't have a simple return and can't file yet. If you don't need it, just delete it from your return.

It's still very early. Many people haven't even gotten 1099s yet since the deadline isn't until Tuesday. We just got ours on Friday and they have text in big red boxes that says they're not final, so we should wait to file until the corrected ones come out in March.

 

[audreyh1]

Good to know.

I don’t think we’ll have to file Form 2210 this year as I paid the 1/4 equal payments of 110% last years taxes for the first three installments before dropping to a bit over 90% of this year’s owed taxes which turned out to be lower than last year’s.

But we’re still missing our biggest 1099, so have to wait a while longer.

 

[ncbill]

As a poster on another thread noted all popular tax programs are still issuing updates through the end of February if not into March as well...anyone rushing to file quickly ignores that at their peril.

 

[walkinwood]

The form 1116 - foreign tax is not yet ready. I think the date for that is 2/17 too.

 

[Ole Red 29]

OP here. Today is Feb 17th, the day TT was scheduled to update their form 2210 and sure enough they did. All my errors went away with the updated form. So the real story here is, as many other posters have said, be sure the software has all the updates you need before your file. Even though I am getting a small refund, I am not going to stop being in a hurry to file each year.

 

[cathy63]

OP here. Today is Feb 17th, the day TT was scheduled to update their form 2210 and sure enough they did. All my errors went away with the updated form. So the real story here is, as many other posters have said, be sure the software has all the updates you need before your file. Even though I am getting a small refund, I am not going to stop being in a hurry to file each year.

They also published Form 1116 (foreign tax) today as promised, so I was able to file DD's return. She doesn't actually need an 1116 because her credit is below the threshold, but I couldn't complete the return until it was available.

 

[martyp]

I was unable to file a simple tax return the other day. The message was that they didn’t have updated form yet. I will try again next week.

 

[BarbWire]

They also published Form 1116 (foreign tax) today as promised, so I was able to file DD's return. She doesn't actually need an 1116 because her credit is below the threshold, but I couldn't complete the return until it was available.

I am envious.

I have been waiting on Form 1116 (using CD/Windows version of Deluxe). Just updated the software and launched my return; still says that 1166 is not available, but will be "ready soon."

The Intuit website says [-]2/17[/-] [-]2/24[/-] 3/3.

What format/source of TTax are you using?

 

[cathy63]

I am envious.

I have been waiting on Form 1116 (using CD/Windows version of Deluxe). Just updated the software and launched my return; still says that 1166 is not available, but will be "ready soon."

The Intuit website says [-]2/17[/-] [-]2/24[/-] 3/3.

What format/source of TTax are you using?

Desktop Deluxe. Perhaps what they accomplished was to enable me to claim the credit without filing the 1116. All her foreign income is reported on 1099-Div and is less than $300, so she doesn't actually need the form.

 

[BarbWire]

Desktop Deluxe. Perhaps what they accomplished was to enable me to claim the credit without filing the 1116. All her foreign income is reported on 1099-Div and is less than $300, so she doesn't actually need the form.

That is entirely plausible. I did find instructions on an Intuit forum for a bakcdoor solution, deleting Form 1116 if you don' need it. Alas it didn't apply to my case, so I will continue to wait.