Just wanted to let ProSeries know that the program is not working correctly on Schedule I (Adjustments to Covert 2019 Federal AGI and Itemized Deductions to the Amounts ALlowed for WI). In part II, Column II (WI), the program is doubling the federal cash gifts to charity. So the amount that the program is putting in Column II is the twice the amount of federal cash donations plus once the amount of federal noncash donations.
Just figured out that the program is only doubling the cash contributions in Column II if the client also has non-cash contributions on federal Sched A. I was working on another client and saw that WI Sched I was correct (same contributions for federal and state) so I played around and when I entered a non-cash donation on Sched A, then the WI Sched I was incorrect for that client too. So it seems the program is working when there are only cash contributions, but not working when a client has both cash and non-cash contributions.
Yes - noticed there was a problem with the state capital gains/losses earlier today. I printed a Wisconsin return and as I was reviewing it, I realized that the program didn't include the $2,500 add-back of the $3k federal capital loss. But what was strange was that when I reopened the client's tax return to fix the state return, the $2,500 add-back now was on line 3 of the state return (without me doing anything - I hadn't opened the Schedule WD yet) and obviously the client's refund decreased. So I don't know what triggered the software to change the state return after I had printed it the first time.
Form 1: Wisconsin line 22 (Penalties on IRAs, retirement plans, MSAs, etc. is calculating at 33% but should be 3.3%
Is anyone having the same issue. It's already nearly two months into the tax season. How soon can we expect this fixed?
33% is correct. From WI pub 126: The Wisconsin penalty is equal to 33% of the federal penalty tax. The Wisconsin penalty does not apply if the
distribution is from a local or state retirement system or federal retirement system and the distribution is exempt
from Wisconsin tax (see "Local and state retirement systems" and "Federal civilian employee retirement systems" in
Part 4.D. on page 5)