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A tax return we previously eFiled is now computing an additional ~$3k of tax. Income and deductions did not change. The only change is the tax computation on the Schedule D Tax Worksheet.
We have not seen any alerts from Intuit regarding ProSeries Professional Schedule D Tax Worksheet changes.
Has anyone else come across this issue?
Best Answer Click here
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I saw someone report this over in the ProSeries Facebook group....is this what you're seeing?
"The latest ProSeries update pushed out changes impacting tax calculations for returns with Form 4952. The software had been incorrectly using the Qualified Dividends and Capital Gain Tax Worksheet for returns with Form 4952. They corrected this to use the Schedule D Tax Worksheet - any returns that were waiting to be efiled have likely been changed."
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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I honestly do not think anything else can go wrong this year!
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We had no idea. That must be it.
Thanks very much for the response, Lisa.
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Now for sure it will
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Why didn't Proseries issue an alert about this? I just had a client receive a letter from the IRS asking for another $1,200 in tax due and when I opened up her tax return that we filed in early March, the tax calculated was completely different. No notices or nothing. Does anybody have a recommendation on a tax software company that is better about this? I am really tired of these errors without warnings. Something similar happened last year on Schedule D tax calculation.