Entering a nominee distribution on the Dividend Income Worksheet (additional Information) is decreasing the nominee distributions in the return. Why?

Forum|Forum|6 years ago
December 7, 2019
2 replies
29 views

No text available

ProSeries Professional

This topic has been closed for replies.

D

denslowtax

Level 2

In the interest and dividend worksheets the amount of "Nominee Adjustment" is entered as a positive number (which may be counter-intuitive). You may have to us separate entry lines on the Sch. B W/S because the nominee adjustment gets spread across everything on that line; so split into a pre-DoD bucket and a Post-DoD bucket.

Then include an explanatory statement telling IRS what you have done about accomplishing the split. A spreadsheet will help, but there's no way it's not tedious.

D

dgaring-pattigarAuthor

Level 2

The program will not let me enter a negative number for the amount of the nominee distribution. I am entering a positive number and the program is still adding the nominee adjustment to taxable income. I updated my program and it appears to be working correctly now.

Sign up

Login with SSO

Let's get you signed in

Login with SSO