Does anyone know where to find on Pro Connect the Worksheet for Puerto Rico filers With Exempt Income Under Section 933 Who Do not Itemize Deductions?

Forum|Forum|3 years ago
October 9, 2022
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ProConnect Tax

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George4Tacks

Level 15

To exclude Puerto Rico income from a return where the taxpayer is a bona fide resident of Puerto Rico, from the Main Menu select: Income > SS Benfits ... > Other income and enter "§933 Excluded Income from Puerto Rico" and the amount as a negative number.

Answers are easy. Questions are hard!

S

SLNAuthor

Level 2

When excluding income, the standard deduction need to be modified and we need to reduce the foreign tax credit for the excluded income as per Publication1321. On form 1116 was showing the adjusted standard deduction instead of the full standard deduction and then the % allocation. It was calculating the allocation based on the adjusted standard deduction. Pro connect told me to go and put the full std deduction in Foreign Tax Credit (1116) Itemized deductions not directly allocable [override] so it allocates the % considering the full std deduction. It is showing a critical diagnostics, saying for e-file the standard deduction cannot be modified. I contacted pro connect and they say I can't e-file. Do you know another way around it?

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SLNAuthor

Level 2

I used the adjustments to income section>Less common Scenarios>Other Adjustments>Other>Description: Excluded Income under section 933. Is that Ok too?

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