I've already seeing many insane looking tax returns for teenagers who somehow received tens of thousands in unemployment and are in the 35% and even 37% tax bracket!!!!!! One client dropped off her daughter's w-2 for less than $1,500 and a 1099-g for over $20,000 (!!!!!) with a note asking is her daughter even needed to file!!!!! She owes $5,000+!!!!!!!
Solved! Go to Solution.
Yeah, laws suck.
But the daughter has over $20,000 of unemployment income she probably didn't deserve, so she has lots of money to pay the frigging tax!
Cry me a river. Pay the tax.
I posted this in another thread. The program is computing the kiddie tax wrong. After you enter all your information, make sure you open the 8615 Schedule D worksheet. You don't have to enter anything, just open it. Upon opening it, the tax computed will change to the correct tax.
I have two kids so far with just unemployment and small W2 so no need to have the Schedule D worksheet. But because of a similar issue the program had last year, I recognized the problem. My point is we shouldn't have to recognize a problem like this. We all pay big bucks for this program and it should work. Period.
I'm glad I came to the community for help - when is this error going to be corrected by Proseries????
I told my client the kids owed more money than they did because of the error. If I didn't look at this answer they would have paid way too much. I'm glad we held back awhile on e-filing or I would have had 3 returns to amend.
What's up Intuit? These programs aren't cheap. And thanks to the person that replied!!! I guess I should contact him instead of customer service next time!!
Well, not to bore you with the details, but if last year is any indication, it won't be fixed anytime soon. I talked to so many customer service reps last year, all of which checked with whoever they check with, and ProSeries continually claimed the program was correct. I did the tax calculation challenge, and that was met with crickets. Finally, I got really pissed off and reached out to someone at Intuit. All of a sudden, they admitted the program had an error. They took another couple weeks to update the program.
Honestly, I don't have time, nor I imagine anyone reading this does, to spend a good portion of my day typing in all the issues found. I can tell you know there is an issue on the 1099B worksheet. I have a case number on that but no response in over a week. I can tell you there is an issue on the deductible home mortgage worksheet. They wouldn't even open a case on that, insisting they were right. I'm beginning to believe they have our money and just...don't...care.