Why is line 16 incorrect on my client's return. He called me on it and I checked 2022 tax tables-looks like he's right. What's going on with Proseries?

Forum|Forum|3 years ago
March 31, 2023
5 replies
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IRonMaN

Level 15

Capital gains are involved?

Slava Ukraini!

J

joggergirl123Author

Level 3

Just a small capital loss.

IRonMaN

Level 15

Qualified dividends? Captial gain distributions?

Slava Ukraini!

PATAX

Level 12

I have never had an error with this with Pro Series. Never. Pro Series does an excellent job with this. Iron Man is correct.

dkh

Level 15

Go to line 16 click on the magnifying glass - it will take you to the 1040 worksheet line 16 - right above line 16 is a Tax Smart Worksheet which indicates how the tax was calculated. Is Line1 Tax Table box checked or Line 4 Qualified Div / Capital Gains box checked or something else ??

dkh

Level 15

Also.... do you print all the worksheets with your client's tax return copy? The Qualified Dividends / Capital Gain Tax Worksheet is probably in your client's paperwork. It shows the detail of how tax was calculated.

J

joggergirl123Author

Level 3

Thank you and apologies to all responders. I didn't take the time to check out the worksheet before posting. Crunch time and this guy was really ticking me off.

PATAX

Level 12

@joggergirl123 that's okay. The PITA clients know how to get to us. Go take a jog and let some steam off. Take your dog with you if you have one.🐕☝

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