Intuit - Need for 1099R Checks and Balances
I think there is a serious flaw in the way Turbo Tax accepts and processes 1099R data input and in subsequently in checking the data during the review process. I am sure you know that a majority of the people who use Turbo Tax are not even close to being experts or even well versed in tax regulations and laws. They depend on your product to keep them out of trouble and meet their statutory requirement.
The problem is centered around the 1099R inputs into Turbo Tax, Box 1 Gross Distribution and Box 2a Taxable Income recorded on the 1099R from an employer, financial institution or whatever. Turbo Tax processes a “no entry” [or the lack of any numerical data input, as zero (0)] . Further, the program does not come back with a message i.e. “Are you sure there is zero on your IRS Form 1099R?” Turbo Tax will inquire about certain data throughout the program if it believes something is missing i.e. users will be asked if they are sure the SEP/IRA block is checked or unchecked. However, nothing is done to confirm the data in the Taxable Income Box, which if processed as a zero is significant. Some 1099R may indicate (like in my case) ‘UNKNOWN” in Box 2a.
It is possible for a person who is not a tax expert (or very tax savvy), who is depending on Turbo Tax to catch mistakes, to assume that the information in 1a Gross Income will be used in the calculations of the taxes. A lot of users figure that as long as they input data in the right places (or what they think are the right places), Turbo Tax will calculate the correct outcome and will catch any mistake during the Turbo Tax Review process.
A modification to your program that says if no information is input in Box 2b, a screen will pop up asking for input and require the user to input data or the program could default to the data in Block 1, Gross Income.
This reviewer shared experience about "flawed review process" and wants this business to offer any options to resolve the issue as the author lost $16000. The author is overall dissatisfied with Intuit. The most disappointing about intuit turbotax tax software from Intuit was failure to catch a mistake , but reviewer liked step by step process. Reviewer wants customer support to reach out to him or her ASAP for further discussion of this matter.
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