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When will the calculation for the 8615 QDCG Wks; line 8 be corrected within ProSeries?

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Level 3
 
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Level 3

Add line 15 to this question.  The adjustment is still using 2018 amounts, not 2019.

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Level 10
Level 10

Have you up dated, because they are correct for me. from IRS:

link: https://www.irs.gov/taxtopics/tc409

Capital Gain Tax Rates

The tax rate on most net capital gain is no higher than 15% for most individuals. Some or all net capital gain may be taxed at 0% if your taxable income is less than $78,750.

A capital gain rate of 15% applies if your taxable income is $78,750 or more but less than $434,550 for single; $488,850 for married filing jointly or qualifying widow(er); $461,700 for head of household, or $244,425 for married filing separately.

However, a net capital gain tax rate of 20% applies to the extent that your taxable income exceeds the thresholds set for the 15% capital gain rate.

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Level 3

Terry,

Thanks - I should have been more clear with my question/comment.  In the Form 8615 instructions for 2019, Line 7 instructions for "Using the QDCG Tax Worksheet for line 7 tax" - on the QDCG worksheet, line 8: Add Form 8615, line 6, and $2,650.  Enter the smaller of the result and the amount listed below for your filing status."  For my client, the smaller is the result, but the amount that shows up on the QDCG, line 8 is actually the sum of Form 8615, line 6 and $2,600 - which is the 2018 amount.

Same issue for QDCG Worksheet, line 15 - uses the 2018 amount instead of $12,950.

I called support and left this same message.  Form 8615 does say it is not ready for efile and anticipated readiness date is 02.27.20, so I will wait and see.

Lori