2021 Schedule J base year carry forward worksheet shows the wrong 2020 taxable income.

Forum|Forum|4 years ago
February 17, 2022
3 replies
9 views

Has anyone else noticed that the 2021 Schedule J base year worksheet is showing the wrong amount of 2020 taxable income on line 4 of the schedule?. It appears to have deducted the 2020 QBI amount for a second time when populating the 2020 line 4 amount. Unfortunately, I found this after 10+ returns that use this schedule had been prepared and E filed. Please beware if you use this schedule (farmers). Thanks Intuit, for once again screwing up your software, and making us find your errors the hard way!

ProSeries Professional

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Lukepccpa

Level 4

Just found this today. Luckily it was my first return with a Schedule J.

Something is up and going very wrong at Intuit. The number of delayed forms and software errors is staggering compared to previous years.

The_AntiTax_Man

Level 7

@IntuitCharlene Programming error alert in: PS21 Schedule J Income Averaging for Farmers and Fisherman Base Year Information Worksheet [Sch J BYIW].

On the 2021 Sch J BYIW, in the 2020 year column, line 4 2020 Form 1040, line 15 Taxable income, the amount that is populating automatically from PS20 is incorrect.

The 2020 Form 1040, line 15 amount should be transferring directly to the 2021 Sch J 2020 column, line 4 without any modification in the amount.

@IntuitCharlene Please acknowledge receipt of this post by posting a Reply. I know you are busy as are we all. Thank you.

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Anonymous

@The_AntiTax_Man I'll take a look at this.

The_AntiTax_Man

Level 7

@PMB1 @Lukepccpa This same problem occurred on the Sch J worksheet two years back, the previous year taxable income amount that automatically populated to the Sch J worksheet was incorrect. I had to manually override it on every return. The PS programmers did eventually fix it in one of the PS updates but it took some time.

Last year it populated correctly.

This year its populating incorrectly again.

Thank you for posting here.

taxiowa

Level 8

Nice catch. For some reason mine never auto populate the last 3 years data so I have to go back and enter the info from the paper copy in file. So I guess I am lucky. Does yours auto populate the previous years return information?

The_AntiTax_Man

Level 7

@taxiowa I pull up the Sch J every year for every farm client even if it will not be used, then the info on Sch J does carry forward to each succeeding year. If you do not open the Sch J in the current year in will not carry forward.

taxiowa

Level 8

I use it every year also, but it still does not carryforward. I always keep 3 years paper returns in all files so it is easy to look up.

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