Federal 2010: Qualified Small Business Stock Reinvested in Other Small Business Stock
Certain customers, who sold Small Business Stock and reinvested in other Small Business Stock within less than 6 months, may have filed an incorrect tax return.
TurboTax has fixed this issue.
How to tell if you are impacted:
You may be affected if ALL of the following are true:
- You filed a tax return prior to February 17, 2011, AND
- You had qualified small business stock that you held for 6 months or less AND
- You sold the qualified small business stock in 2010 for a gain AND
- You reinvested in other qualified small business stock (and choose to defer paying tax on your gain).
If you are affected, you may have underpaid your federal tax. You will need to amend your federal tax return and may possibly need to amend your state tax return.
If you need to contact us, please use the phone number in the email from TurboTax and tell the representative you’re calling about the Federal 2010: Qualified Small Business Stock.