Ran across these this year. Shouldn't affect most people, but if the shoe fits, it's worth checking your returns:
- Some less common 1099 DIV information isn't showing up in imported forms. In my case, box 2b (Section 1250 gain) came up zero, even though the financial provider had passed this info to Intuit. I communicated the error to Intuit, and I believe (not sure, it was awhile ago) that they acknowledged a few glitches like this. So always check your imported data against the 1099s, W2s, etc. from your financial institutions.
- Delaware state return software doesn't recognize that interest from territory (e.g. US VI, PR, etc.) muni bonds is tax exempt in Delaware. If you're only filing in one state, you may be able to fake out the software by declaring the muni income as coming from DE. If you're filing in multiple states, the only "fix" I could come up with was to override a figure in the Delaware form. I spoke with a tax person at Intuit who confirmed territory income should be treated as exempt from Delaware tax.
- Fidelity 1099 data provided to Intuit does not match its 1099s to the penny. Literally. I found a figure differing by a penny. This almost surely won't affect the amount of your tax. Fidelity confirmed that one should use the data on their 1099s and not what you import (should they differ). What I find disconcerting is that there is only one number (for each box) provided to the IRS; why isn't Fidelity taking measures to ensure the same number is reported to the tax preparation sites?
Happy returns
Comments
In other words her state tax is too high and we are not seeing how to touch form 8606 directly.
Will investigate further, could be a mistake we are making, but can be added to TT bug list maybe.