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Posted by Arnie Goetchius on February 14, 2008, 5:37 pm
Please log in for more thread options az willie wrote:
> For investors who have used Tax Cut this year.
>
> Does it have a place to enter data from your form 1099-B from your broker?
Tax Cut has a Capital Gains and Losses Worksheet where you enter each
transaction, date acquired, date sold, sales price and cost. You can
take the sum of the sales price at the bottom of the form and compare
that with what your broker provided on Form 1099-B.
As I recall, Tax Cut has always used this approach.
>
> I have used TurboTax for several years and I always entered the info from
> tha 1099-B and it compared the number there to the total on the Schedule D
> and it had to match.
>
> This year there is no place to enter that info from the 1099-B and after a
> couple of hours on the phone with support and them checking with
> supervisors ... they keep telling me it isn't necessary to enter that info
> anymore and there is no place to do so. On the form list where it mentions
> 1099-B if I click on that it takes me to the Schedule D!!!!
>
> I don't see how they can guarantee an accurate return if they don't check
> the total of my entries for stock trades against what my broker reports on
> the 1099-B.
>
> I think this is a huge screw up for TT this year and they are not admitting
> it.
>
> Granted, since I have the 1099-B I can manually compare my Schedule D to
> that ... but the idea is that the program is supposed to be doing that.
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