What's in the most recent 2011 TurboTax Business federal program update?
Release 17 (R17) is the final update for TurboTax Business 2011; it became available on April 25, 2012. R17 fixed these issues:
- Interview loop when disposing of rental real estate or farm casualty assets (Corporations, S Corporations, Partnerships)
- Form 3800 carryover credits not flowing to Carryover Worksheet (Estates & Trusts)
- Radio button selections on "Describe This Asset" screen not being maintained through interview (S Corporations, Partnerships)
- IRS Rejection Code F1065-056 when Forms 8609-A and 8586 are included in return (Partnerships)
- IRS Rejection Code F5884B-001 when Form 5884-B, Lines 9 and 10 are blank due to Pass-Through Credit (Partnerships)
Why do I need to update?
It's important to update your TurboTax desktop software to ensure your tax return is as current and accurate as possible.
Throughout the year, federal and state government agencies issue new or updated regulations, guidance, instructions and forms that may affect your tax return. We constantly monitor these changes to make sure TurboTax supports any new or updated tax requirements.
In addition, we look at customer feedback to identify opportunities where we can improve TurboTax by implementing enhancements and corrections to program errors. For this reason, you should download and install updates whenever TurboTax prompts you to update.
How often do I need to update?
In a typical tax season, we release 1-2 dozen federal updates and an average of 3-5 updates per state. TurboTax will alert you whenever it detects that an update is available. (You can modify your update preferences if you want to change how TurboTax checks for updates.)
After updating, do I need to do anything else?
Normally, no. Each new update incorporates the information in all prior updates releases, so you don't need to install earlier updates. In the few cases where you need to take additional action after updating (such as reviewing a particular section of your return that may be impacted), we'll tell you what to do in these Update Notes. See also What if TurboTax is updated after I've already filed?