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- Re: Does proconnect generates a form 1116 worksheet?
Does proconnect generates a form 1116 worksheet?
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jestrada-ledger
Level 1
03-11-2023
06:35 PM
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itonewbie
Level 15
03-11-2023
08:31 PM
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Kinda. What exactly are you looking for?
For scaledown, ProConnect Tax is grossly incorrect with fiscal year countries because it computes the ratio not in accordance with the regs but as if the entire foreign tax accrued was for the current calendar year. It also provides no alternative scenario for dual earners.
These were brought to the attention of Intuit probably 8 years ago and, after numerous discussions offline, they were willing to build in an override for the ratio (which didn't exist before) but have failed to address the technical issues to date, which means a lot of the returns prepared by unsuspecting tax pros are literally incorrect (or, in the case of some dual earners in calendar year jurisdictions, not tax advantageous)! @IntuitBoris Maybe we should reopen this discussion when you have a chance?
What we do now is to use the override when necessary and attach our own worksheets to support the calculations.
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Still an AllStar
Still an AllStar
