Randy G wrote:

- quote -

Your joking, right?

--
Alan
http://taxtopics.net

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"Road Atlas" <no[at]spam.com> wrote:

- quote -

No, it is not.

There is an update that will be available mid Feb for
Turbotax. I think that will answer your question. I had the
same problem.

From Turbotax.com- Non-Final Forms:

The following forms were not available for this release of
TurboTax; we expect these forms to be updated by
mid-February:

Form 3468 Investment Credit
Form 6198 At-Risk Limitations
Form 6781 Gain/Loss Sec 1256 Straddles
Form 8582 Passive Activity Loss Limitations
Form 8582CR Passive Activity Credits
Form 8615 Tax for Children Under 14
Form 8814 Election to Report Child's Interest and Dividends
Form 8839 Qualified Adoption Expenses

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I am currently doing my taxes using Turbotax and I adopted a
boy in 2003. Turbotax will not even work out my credit right
now, I have to wait for "updates" to come around. I plan on
contacting TT and giving them hell for this. You would think
the program would be updated for a credit that has been
around for almost a year!

As a result, I can't complete my taxes using TT to get my
credit. I don't know if Taxcut has these credits, but I am
ready to ask for my money back on TT.

Maybe if we both contact TT and complain it will speed it up.

Let me know what you find.

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Road Atlas wrote:

- quote -

The pre-2002 limit was $5000. As you paid $23,000 in 2002,
your limit for taking the credit in 2003 (assumes US birth)
is not $5000. What I am not sure about is whether you have
to use the 2002 limit of $10,000 or whether you can use the
2003 limit of $10,160. I think it is $10,160. I'm not a
Turbo Tax user, so I can not respond as to why that product
is limiting you to the pre-2002 ceiling.

--
Alan
http://taxtopics.net

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I pre-paid adoption fees to the agency on Dec 16, 2002
($23,000 fee) to enter their program at the bottom of
the waiting list.

My child was born 1/3/2004.

Adoption legally final on 1/7/2004.

My MAGI for 2003 is $115,000

My TurboTax software says I can only dedcut $5,000
this year. Is this correct?

================================================== =====
Moderator: I hope you truly enjoy the gift of a child.
================================================== =====

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