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I have a Form 8615 with Line 14 amount $1550. Client has no dividends, cap. gains interest etc. Line 15
is calculating tax of $1,018 on that amount??? At 10% shouldn't it be $156??
Any ideas? Thanks!
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Another poster mentioned that you have to activate the Schedule D and then magically the math gets fixed. I'd throw this into a spreadsheet and independently calculate the tax until ProSeries starts getting the right answers.
Personally I wouldn't be in a rush to file this until Intuit actually comes out with a fix. There are a scary number of bugs this year.
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Read the post on kiddie tax and unemployment craziness. I believe there may be a solution there for you.
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Thanks for the info, but I have nothing to enter on the Schedule D- What would activating it do?
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Try it and see.
The more I know the more I don’t know.
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Thanks that worked! Will try tech support to fix but not optimistic based on past experiences!
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Thanks that worked! Wonder what else is lurking out there this year!
