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ProSeries Basis is not calculating an amount on form 8606 line 15c (taxable amount of IRA distribution).

Level 1

I have a retired client who received taxable traditional IRA distributions in excess of his IRA basis. No entries apply from the IRA distribution worksheet. Line 15c is blank. It should be calculating line 15a - line 15b (which is 0). Is this a programming error? If I override it, then I won't be able to e-file. Thank you

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4 Replies 4
Level 14

Yes, it is a programming error.  We may just need to wait for a 'fix'.

Level 1

Thank you for your response. What is the best way to let ProSeries know about the programming error?

Thank you

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Level 15

They know.

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Level 4

On 3/1 I e-filed a 1040 farm return that was due 3/1.  On 3/2 I contacted tech support as e-file status never changed to "sent to IRS".  Tech Support rep assured me that return had been sent to IRS.  On 3/3  I received a reject for this return that appears Intuit rejected it and the return was never sent to the IRS.  Reason for reject is "potential issue with calculation of taxable inherited IRA".  This is not an inherited IRA and basis calculation is correct and all lines on Form 8606 have correct entries except lines that require no entries.  If the IRS rejects a return I have 5 days to fix.  Does anyone know if IRS waives penalties if rejected return was never sent to IRS?  

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