Turbotax for Business -- beware!

[vg55]

Spent a lot of time today, trying to get Intuit to fix a software issue. Absolutely no luck.

Our LLC bought and sold a rental property within a 6 month timeframe.

bought the property for 373,750
sold the property for 382,000
depreciation: 1,052
sales expenses were 15,000

my math: LOSS 7,802

Turbo tax result: GAIN $180,732

I tried to paste the turbotax math into this post to show folks. In any event, the support person saw the issue as a software calculation issue (I AGREE), BUT the person that she escalated the issue saw this as an IRS code issue and gave me the IRS helpline phone number.

Incredible!

Any advice?

[neilpilot]

H&R Block

[stan1]

I tried to paste the turbotax math into this post to show folks. In any event, the support person saw the issue as a software calculation issue (I AGREE), BUT the person that she escalated the issue saw this as an IRS code issue and gave me the IRS helpline phone number.

Incredible!

Any advice?

I'd start by reviewing the relevant IRS instruction/code. No way to know who is right without doing that.

[student5]

As an aside, please note that TurboTax Business does NOT currently offer 1099-OID forms!