Schedule J Income Averaging for Farmers and Fisherman

kennyship · ‎02-19-2020

The base year information for line 13 taxable income (2018) the program is carrying over from 2018 is incorrect according to instructions for the Schedule J. It should be carrying over Line 10 Taxable Income, but instead is carrying over Line 10 plus Line 9 QBID. The instructions for the form do not support this. They specifically say to use Line 10.

RDL · ‎02-26-2020

I agree the Schedule J base year taxable income carrying over from 2018 is incorrect. Will Pro-Series correct this error?

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taxiowa · ‎02-26-2020

Just change to correct number and elect income. 2017 and 2016 don't always roll over numbers and you have to enter them anyway. So it doe not hurt to correct 2018 as well.