This article will help you set up your client's tax return to receive direct deposit—and identify whether direct deposit is set up before you e-file—in Intuit ProConnect. Follow the steps for your return type below to get started.
Direct deposit for individual returns (Form 1040)
To set up direct deposit:
- Go to the Input Return tab.
- On the left-side menu, select General to expand that section.
- Click on the Misc. Info./Direct Deposit screen.
- Check the box labeled Direct deposit of federal refund.
- Scroll down to the Financial Institution #1 subsection, and enter the information:
- Name of financial institution (memo only),
- Routing Transit Number,
- Depositor Account Number,
- Select the Type of Account from the drop down menu, and
- Select the Type of investment from the drop down menu.
Two additional financial institutions can be entered here if you wish to split the refund between multiple accounts. Form 8888 Direct Deposit of refund will generate with the return. If the type of account selected is an IRA, the program will limit the amount deposited to the to the IRA limits. If more than one IRA account is selected, then the total is limited to the IRA limits. The limitation is computed per spouse, and can be computed using this year's or next year's IRA limits.
To set up direct deposit for a state tax return:
- At the top of the Misc. Info./Direct Deposit screen, click on a state abbreviation.
- Inputs will vary by state. Most states have a checkbox or field where you enter "1" to indicate direct deposit.
- By default, ProConnect will use the bank account you entered for Financial Institution #1 for the state refund. You can enter a different financial institution here for the state refund, if needed.
To verify the refund is set up for direct deposit:
- Go to the Check Return tab.
- On the left-side menu, select US.
- View the FinTrans Summary. If the federal or state return is generating a refund, and direct deposit is set up, the financial transaction summary will indicate the amount and bank account information.