emcpa1040
Level 1
12-07-2019
10:05 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Sch D tax calculation for a child changes when I change the occupation
Best Answer Click here
Labels
George4Tacks
Level 15
12-07-2019
10:05 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Is one of those occupations "student"?
Here's wishing you many Happy Returns
ctx192021
Level 1
12-07-2019
10:05 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Have you found that using "student" changes the calculation? Do you think there is a valid reason for this regarding the calculations? My impression is that what is in the occupation field should not have any bearing on the return.
George4Tacks
Level 15
12-07-2019
10:05 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Try changing occupation to "kid" and see what happens.
Here's wishing you many Happy Returns
Here's wishing you many Happy Returns
ctx192021
Level 1
12-07-2019
10:05 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Yes & any other forms related to unearned income go away when you do that. No kiddie tax, no amt. Just not sure if this is a glitch or intended by Lacerte?
George4Tacks
Level 15
12-07-2019
10:05 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I do not remember the logic, but it is intended by Lacerte. I think it has something to do with a student being eligible to be a dependent. Maybe @Intuit BettyJo knows why "student" is a killer occupation.
Here's wishing you many Happy Returns
Here's wishing you many Happy Returns
IRonMaN
Level 15
12-07-2019
10:05 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
My curiosity often gets the best of me so I have to ask - which is the highest taxed profession?
Slava Ukraini!
George4Tacks
Level 15
12-07-2019
10:05 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
An attorney authorized to represent in Tax Court?
Here's wishing you many Happy Returns
Here's wishing you many Happy Returns
George4Tacks
Level 15
12-07-2019
10:05 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Oops - I read highest tax profession. I will go stand in the corner.
Here's wishing you many Happy Returns
Here's wishing you many Happy Returns
abctax55
Level 15
12-07-2019
10:05 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
In terms of "kiddie tax" - I'd bet on student being the profession that generates the most tax.
"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"
( Generic Comment )"