H&R Block Computer Glitch

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climbhigh
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Joined: Fri May 30, 2014 1:54 pm

H&R Block Computer Glitch

Post by climbhigh »

Hello All -

Did my taxes this morning. I had done them by hand ahead of time so I knew what to expect. Quite surprised, however, when the H&R Block program (online) gave me a final number some ~$800 off what I had already calculated. Then I did it through Turbotax and it matched my "by-hand" calculations exactly. Went back to H&R Block and found the error: I had auto-imported my stuff from Vanguard and the H&R block program had inadvertently characterized my long-term capital gains as short-term capital gains. Once I fixed this the discrepancy was fixed.

For those that use H&R block I'd be cautious: when it auto-imports there is a drop-down menu that characterizes all of your capital gains. When I imported mine the drop down menu did say "long-term" but it wasn't until I actually clicked on the drop-down menu that the system realized what they were and performed the calculations correctly. So just because the drop down menu looks correct you may still need to click on it for it to become active. Now this may have something to do with my browser and computer settings, but just be cautious.
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wilpat
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Re: H&R Block Computer Glitch

Post by wilpat »

I have used H&R Block for many years with no problems. I, however, do not import anything. I enter the figures manually, which takes about 15 seconds per 1099 or whatever.
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jebmke
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Re: H&R Block Computer Glitch

Post by jebmke »

I guess I don't understand. Form 8949 requires that you enter the acquisition date and sale date. The LT vs. ST is just a calculation. Are you saying that the Block system is not performing the calculation correctly?
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dodecahedron
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Re: H&R Block Computer Glitch

Post by dodecahedron »

Interesting. I used HRB (downloaded to my Macbook) and the Vanguard 1099-B data download populated perfectly for me. (However, in my case, all the transactions were short term TLH. I don't know if I would have experienced the same problem you did if I had had any long term transactions.)
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climbhigh
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Re: H&R Block Computer Glitch

Post by climbhigh »

jebmke wrote:Form 8949 requires that you enter the acquisition date and sale date. The LT vs. ST is just a calculation.
Instead of putting the actual acquisition date it allows things to be grouped and you can select "Various - Long Term" or "Various - Short Term". Mine were imported and the drop down menu correctly appeared to say "Various - Long Term" but the calculations were being performed as though they were short term. It wasn't until I clicked on the drop down menu that the calculations changed (I'm in the 0% LT cap gains bracket so the error was obvious). Had I not known what I was supposed to pay I would have assumed it was correct and ended up overpaying by a substantial amount.
jebmke
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Re: H&R Block Computer Glitch

Post by jebmke »

climbhigh wrote:
jebmke wrote:Form 8949 requires that you enter the acquisition date and sale date. The LT vs. ST is just a calculation.
Instead of putting the actual acquisition date it allows things to be grouped and you can select "Various - Long Term" or "Various - Short Term". Mine were imported and the drop down menu correctly appeared to say "Various - Long Term" but the calculations were being performed as though they were short term. It wasn't until I clicked on the drop down menu that the calculations changed (I'm in the 0% LT cap gains bracket so the error was obvious). Had I not known what I was supposed to pay I would have assumed it was correct and ended up overpaying by a substantial amount.
One thing I train my preparers to do is to reconcile Schedule D with the 1099B. When you do that, you will catch errors on entry in 8949.

Interesting that they group with uploaded data. The whole reason to group is to avoid having to type in all the entries. With uploads, there really isn't much benefit to group.
When you discover that you are riding a dead horse, the best strategy is to dismount.
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thursdaysd
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Re: H&R Block Computer Glitch

Post by thursdaysd »

I just ran into the same problem (hadn't seen this thread). I sold stock last year for which Vanguard knew neither the basis nor the acquisition dates. I imported the data to HRB and when prompted entered VAR-L as instructed for various dates, long term. The tax due came to more than I expected, but I had realized when entering the basis that I had forgotten to allow for the effect of stock splits when I initially calculated it. If I had not also run the numbers through Turbo Tax I would not have caught the error, and would have overpaid by a significant amount.

I am also having a problem with the state form. NC requires me to pay tax on my muni interest, but allows me to deduct the portion attributable to NC. Although HRB asked me for the relevant percentage it is not applying it and it will not allow me to override. Since it's only $1 more in tax I'll probably let that ride, but I am really annoyed about the cap gains error. I liked the data entry for HRB more than TT, but I'll go back to TT next year.
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Voelund
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Re: H&R Block Computer Glitch

Post by Voelund »

After many years of using Turbo Tax, this year I switched to H&R Block.

So far the software has worked well but I am having difficulty printing readable federal and state paper returns. The forms print with good quality but the filled-in numbers, while readable, are very light and I wonder if the IRS optical scanners will be able to pick them up. Has anybody else had this problem?

I called H&R Block but they were not aware of a problem. The rep suggested a printing ink problem but that would not make sense since the forms are printing just fine. I think a special very light font is being used for the custom numbers

I am using an updated Apple system, OSX 10.9.5, with an HP printer. Any suggestions?
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