ProSeries Tax Idea Exchange
Submitted by larry11 on 06-21-2022 09:35 AMThese international information returns are a must for practitioners dealing with expat. work.
As you have 5471 on the software, the 8992 and 8993 are required in most of the 5471 filings.
Without proseries having these forms, we have to use a third party forms package to deal file them. Most forms packages will not roll forward comparative data but most do the arithmetic computations in the required cell fields. Regardless, you need to get these forms for next year.
I noticed that you have the pfic 8621 for a few years now and have provided the long term capital gain and qual dividend adjustment on the form 1116 computation form. The latter was not there for years and i hope my same suggestions years ago was the decision to make the change. it would be nice to see a worksheet on how the software computes this adjustment.
I also recommend that on schedule e and B input there is a tick box to source the particular income to a country A, B, etc as this has been entered manually on the 1116 comp. worksheet for ever....