Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProSeries Tax
- :
- ProSeries Tax Discussions
- :
- MA 355S Bank Interest on Schedule S
MA 355S Bank Interest on Schedule S
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
mksoroko
Level 1
02-02-2022
08:34 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
In prior years, we could tell the software on MA 355S, Schedule S, that the Interest from Form 1120S was MA Bank Interest on line 40. Presently, the interest is showing up on line 41. The only workaround that I found was to subtract the MA interest on line 41 and then add the interest on line 40. Is this what other MA tax preparers are experiencing?
Labels
2 Comments 2
KHW
Level 1
05-23-2022
01:57 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Did you ever get this issue resolved? I'm working on a 2021 Form 3 and am having the same problem. I can't get the interest to flow to the correct line on the MA return. Thanks for any help you can give!
mksoroko
Level 1
05-24-2022
07:44 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
No I did not! We tried multiple times to get Proseries support to change the way the program defaulted with no success. To make matters worse, once you back out the ordinary interest and add the MA bank interest, there is then an addition error on the statement of the SK-1. Another issue that Proseries will not correct at this time! The work around is to then back out the amounts doubled on the statement in the description section of the Schedule SK-1.
