In pro series connect showing Form 1040 line 21 other income but I don't have any. WHere is it coming from?

[TaxGuyBill]

Can you double-click Line 21 to see what it shows?

[satilla]

Tried that. Only the description is in blue, not the amount.  When I click on it it brings me to the page for ABLE distributions which there are none.  It's also showing ELA as the description on line 21.  Any idea what that means

[IRonMaN]

You are the second person to ask what ELA was showing up as other income but I don't know if anybody has cracked that code yet.

[satilla]

The answer is perfect!  When is pro series connect going to get this form in the software?  Can't efile without it.

[TaxGuyBill]

The IRS still shows the form as a "draft" form, so ProSeries can't e-file it until it is finalized.  Even then, it will likely be a while after the IRS has finalized the form until ProSeries will 'finalized' it in the software.

[TaxGuyBill · Accepted solution]

"ELA" has something to do with the new limit for business losses.  From the 1040 Instructions:

"Section 461(l) excess business loss adjustments. Enter "ELA" and the taxable amount on the dotted line next to line 21. See Form 461 and its instructions for more information."
https://www.irs.gov/instructions/i1040gi#idm140302174061168

https://www.law.cornell.edu/uscode/text/26/461#l
https://www.irs.gov/pub/irs-dft/f461--dft.pdf
https://www.irs.gov/pub/irs-dft/i461--dft.pdf