Schedule 1, Part II, Adjustments to Income, Line 24z

Forum|Forum|4 years ago
February 12, 2022
2 replies
36 views

I am not able to enter any information on Schedule 1, Part II Adjustments to Income, Line 24z. Unlike Sch 1, Line 8z which has a worksheet behind it that you can enter any misc income information, the same doesn't seem to apply to Line 24z, its locked, no cross reference or linked capability. Anyone else having this issue and/or know how to utilize this field without just overriding everything? Thanks for any assistance, Dan

ProSeries Professional

This topic has been closed for replies.

Best answer by Just-Lisa-Now-

Thank you again for all of our assistance, still debating about just showing the taxable amount and not reporting the Fraud component at all but also trying to avoid an automated IRS letter, still so difficult to get things resolved like this if you have to call or send a written reply. Maybe I will just report correct amount and attach an 8275 to explain the fraud component. Thanks again, Dan

You could back it out as a negative on the Other Income line 8z, with the 8275 explaining the situation...that would avoid the CP2000 mismatch letter.

Just-Lisa-Now-

Intuit Community Champion

I think you want this smart worksheet area on the 1040/1040SR worksheet, I think these lines flow to 24z.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

D

DanCocAuthor

Level 4

Thanks for the reply, I did see this earlier, what is you need to add something that is not listed, there isn't a place or line for write in items, like we have with Line 8z.

Just-Lisa-Now-

Intuit Community Champion

what is it youre trying to add in there?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

K

Karen Henell

Level 2

Thank you all for your solutions which entail making modifications and additional work on our part. Instead of enabling a sub par software system we should expect ProSeries/ Intuit make Line 24 z of Schedule1 operable This affects many adjustments and will make us look unprofessional when the IRS letters arrive in a year or two. We are paying for a PROFESSIONAL tax program and think they should live up to their standards and the amount they charge!

rbynaker

Level 13

Adjustments to income are by legislative grace and enumerated in IRC section 62. I think the IRS form design folks did a pretty good job of including them on the new 2021 Schedule 1 Part II. This isn't an area where you can just make up your own stuff. If you're fudging numbers to match bad 1099 forms, all of the fudge should be above the line, not below it.

K

Karen Henell

Level 2

Seriously. "fudging" numbers? There are numerous occassions when the numbers reflected on a 1099K are adjusted and this cannot be accomplished when ProSeries has the IRS approved adjustment line inoperable. Case in point AirBNB 1099K for a 14 day rental. It is not taxable., but the 1099K must be reported and then an adjustment made. Schedule E can't be used because it is less than 15 days. Another case in point making adjustments for foreign treaties. Venmo and paypal transactions that are actually reimbursements. I could go on and on. Other tax programs have Schedule 1 line 8 z for other income is operable. Line 24z for "other adjustments" is inoperable on Pro Series. FYI IRS did a great job on Schedule 1 AND THEY PROVIDED LINE 24 Z FOR OTHER ADJUSTMENTS. Pro Series has not made it operable on their program.

I am not referring to bad 1099s, I am referring to 1099s that have EXCEPTIONS!

Think and know what you are talking about before you accuse individuals of "fudging" not very professional.

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