I created a tax file in Intuit Proseries Basic by transferring a TurboTax file to Intuit Proseries. The interest deduction in Proseries is wrong. For some reason, the interest payment is added twice, doubling the interest paid. Can anyone help me?
No, I'm sorry. I am not dealing with interest income but a mortgage interest deduction. When I transferred a file from Turbotax to Intuit ProSeries basic, the interest listed on Form 1098 appeared twice. It appeared in the box for reported interest and also in the box for interest not reported on Form 1098. This is a software error that should be corrected by an update. I worked around this problem by deleting the unreported interest figure in the mortgage interest worksheet linked to Schedule A.