rbynaker
Level 13
12-07-2019
04:57 AM
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YW. The IRA stuff in ProSeries is pretty quirky. I think there's probably a way they could streamline it some but I'm sure it's not a high priority.
Turns out I didn't need to enter the $0 ending FMV. Personally, if I were programming it, that would be a requirement for any conversion with basis. PS assumes $0 if you leave it blank, I agree with itonewbie, that's a really bad thing to assume. If you do put a number in there (it's on the IRA Info Wks), it does correctly allocate basis. But IMO, a non-entry should be an incomplete calculation.
Rick
Turns out I didn't need to enter the $0 ending FMV. Personally, if I were programming it, that would be a requirement for any conversion with basis. PS assumes $0 if you leave it blank, I agree with itonewbie, that's a really bad thing to assume. If you do put a number in there (it's on the IRA Info Wks), it does correctly allocate basis. But IMO, a non-entry should be an incomplete calculation.
Rick
