Sma
Level 2
02-28-2021
04:15 PM
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I have entered a 1099r for the full amount and taxable amount per the form. They are both the same. The client has a small basis in the IRA from prior years which has been carried over . After entering the FMV the Full amount of the IRA is properly reflected on the line 4a. Line 4b shows 0. This is incorrect and I cannot seem to force the correct amount on 4b. It seems like proSeries is automatically assuming distributions are non taxable for 2020.
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abctax55
Level 15
02-28-2021
04:22 PM
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There are many threads posting about a known issue with how PS is handling 1099-R's right now.
HumanKind... Be Both
abctax55
Level 15
02-28-2021
04:25 PM
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Altho this seems to say the problem is the opposite:
HumanKind... Be Both
Level 15
02-28-2021
04:36 PM
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Are you using Basic or Professional?
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Sma
Level 2
02-28-2021
04:40 PM
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Lisa I am using Basic
Level 15
02-28-2021
04:56 PM
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that seems to be the common denominator, Basic is having some issues with the 8606
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Level 15
02-28-2021
04:57 PM
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Ive reported it to the powers that be, still waiting for confirmation that this is on the radar with an open ticket for it to get fixed.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪