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Level 2
February 7, 2024
Question

Software issue-checkbox for $3 to Pres Election

  • February 7, 2024
  • 2 replies
  • 10 views

Has anyone noticed that when you check "No" to $3 contribution to Pres. Elec. Campaign on the Info worksheet that it's not carrying over to the 1040?  Even is I manually "x" the box, it won't efile that way. and that's the last place most of my clients want any of their money to go! 

Can Proseries fix this ASAP please?

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    2 replies

    dkh
    Level 15
    February 8, 2024

    The checkbox on the 1040 is for a YES to $3     blank box means NO

     

    bf1040Author
    Level 2
    February 9, 2024

    Yes, I realize that BUT it isn't printing on the 1040 SO does that mean it's also not noted on the efile return file being transmitted?  Realize this isn't a big deal but IT IS a software glitch.  

    dkh
    Level 15
    February 9, 2024

    You're flip flopped on what the 1040 indicates.  🙂

    If you DON'T want to $3 to go to the Presidential election fund  the 1040 should NOT have the boxes checked.    The 1040 box being checked is a YES to the $3.   

    Not a software glitch. Works fine. 

    Test it out by marking Taxpayer yes on Info worksheet and Spouse No on info worksheet then look at the 1040.

     

    BobKamman
    Level 15
    February 10, 2024

    That fund is still around?  I thought no one was taking money from it because there were too many strings attached.  This is from Wikipedia, probably not up to date:

    In 1977, about 29% of taxpayers checked off the box to contribute $3 of their taxes towards the fund. The level dropped to 19% by 1992 and dropped further to only 3.6% in 2020.[14] Two reasons cited for the decline are an erroneous belief that donations increase tax liability, and a general apathy toward the political duopoly.

    Re-assignment of funds
    The portion of the checkoff that formerly went to pay for party conventions was diverted to pay for pediatric research in 2014, with the passage of the Gabriella Miller Kids First Research Act.

    The Gabriella Miller Kids First Research Act (H.R. 2019; 113th Congress), which was passed into law on April 3, 2014, diverts the money in the Presidential Election Campaign Fund which was earmarked for party conventions, to pay for research into pediatric cancer through the National Institutes of Health.The total funding for research would come to $126 million over 10 years. As of 2014, the national conventions got about 23% of their funding from the Presidential Election Campaign Fund.