I am getting the wrong amount on Lacerte's Form 8915-E, Part III Line 15. It is supposed to reflect the amount in either Line 2 column (c) or Line 2 column (b). The number appearing on Line 15 is too low by $188. My Line 2 column (c) is blank, so Line 15 should pick up $3,052 from Line 2 column (c), the Qualified 2020 disaster distributions made in 2020. This number gets divide by 3 to determine how much gets taxed each year for 3 years, i.e. tax is spread over 2020, 2021, 2022. Since my Line 15 is too low, not enough is being deferred to 2021 and 2022 and too much is being taxed in 2020. I have other clients that will have much bigger amounts to defer and I am worried about the accuracy. Has anyone else discovered this apparent error?
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Either call support or use Ctrl + L to highlight the return and send it to Lacerte with your concerns about it. They will either use this to fix the program OR let you know how to fix the problem. The nice thing is no hold time on the phone.
There are so many number combinations, that you may have just hit a sweet spot for this error.
I did as advised and sent a copy of the return to Lacerte. I am awaiting an update that will fix that error so I can e-file the return.
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