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ANOTHER WORKAROUND - 199A DIVIDEND REIT INFORMATION ON 1040 ENTERED IN K-1 1041 INPUT FORM DOES NOT FLOW THROUGH TO THE 199A FORM FOR CALCULATION PURPOSES ON 1040

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Level 2

Discovered another software error dealing 199A dividend reit information.

I talked about the error dealing with the 1041 software itself.

This time this is dealing with the 1040 program.

Within the 1040 tax program you will have clients that will have k-1 forms from various sources such as a 1041 trust or estate k-1 form.

When you are in the 1040 program and then goto the k-1 form for a 1041 type of k-1 for example, whenever you start putting in Statement A information at the bottom of the 1041 k-1 input form you should see a flow back of the information back to the 199A calcuation form.

I put in 199A REIT dividend information at the bottom of the Statement A form for the 1041 k-1 form and the REIT 199A information does not at all flow through the 199A calculation page at all.

Of course the 2018 tax program does do this and it does work.

The only workaround for this issue is going to Schedule B on the 1040 program, put the name of the trust, put zeros for dividend income and qualified dividend income information, then go to the specialized worksheet area where you can put in more information regarding dividend income information which will include putting in the 199A Reit dividend information.  When you do that the 199A dividend information flows through to calculate the deduction like it is supposed to.

Again the point is if you are in the 1040 program and you have various k-1 forms to input from various sources that may have 199A reit dividend information that information may not all flow to the 199A calculation page at all.

Yet another issue for the 199A forms that needs to be fixed by proseries.

 

 

 

 

 

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3 Replies 3
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Level 8
Level 8

@Bear2   Thanks for the heads up!

@IntuitAustin This one is serious and will affect the tax calculation; especially since it worked correctly last year. Pease make sure that developers are aware and look at the 199A functionality of the other worksheet inputs.

 

 

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Level 2

Proseries support and tech people have been informed 5-6 times about this subject for the last 3 weeks.  I can't do any more.  It is up to them to fix it which I would assume would be some time in August 2020 when tax season is done. No one currently wants to fix the issue for some reason even though you can show them what is going on and they agree something is going on. 

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Community Manager
Community Manager

I will make sure our development/support teams are aware of this. Thank you! @Skylane 


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