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EITC LOOK BACK

Level 7

If I check the Yes box in the EITC worksheet to look back to 2019, will Proseries automatically pick the better result from 2019 versus 2020? So shouldn't I always check that box for each of my EITC clients?

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Level 15
Level 15

Probably good practice, Im hoping they make it a "pink" box that has to be checked one way or the other so people don't forget to look at it.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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7 Replies 7
Level 15
Level 15

Doesn't seem like it, I fiddled with it the other day, you still have to choose whether to use it or not. 

I didn't really dissect what was happening, I just watched the refund meter bounce back and forth when I chose it or didnt.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Level 7

So you think that for each EITC client, I must use the worksheet as one last step before I consider the return completed.

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Level 15
Level 15

Probably good practice, Im hoping they make it a "pink" box that has to be checked one way or the other so people don't forget to look at it.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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Level 7

So agree about needing a pink message!

Level 12

IRS may have a blanket rule about allowing programs to make "elections" automatically.  Or it might be there as a reminder to enter the 2019 number, if it is not auto-filled for a client whose return you prepared last year.  

What if your client comes in to do a 2020 return and says, "By the way, here's another W-2 I forgot to give you last year?"  

And then there are the joint returns where this year's spouse is not the same as last year's.  I'm not sure how this election works, anyway.  I did find that 2019 earned income must be > 2020 earned income.  But what do you do with someone who was MFJ in 2019 and HH in 2020?

Level 15
Level 15

"What if your client comes in to do a 2020 return and says, "By the way, here's another W-2 I forgot to give you last year?"  

And then there are the joint returns where this year's spouse is not the same as last year's.  I'm not sure how this election works, anyway.  I did find that 2019 earned income must be > 2020 earned income.  But what do you do with someone who was MFJ in 2019 and HH in"

Great questions, I have no idea how any of that will work!


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Level 1

What about the Child Tax Credit how do you get the program to use the look back 

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