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InnovativeTax
Level 4
Jan 31, 2024 12:01 AM UTC
Question

Form 5695

Hello my fellow accountants!!!

Anybody else eagerly awaiting the approval of Form 5695? A little upset, as well, the form isn't even calculating the proper credit(s) or any credit at all and not properly flowing to 1040 arithmetic.

Am I off here?

Thanks

Chris M.

 

 

      This topic has been closed for replies.

      3 replies

      TaxGuyBill
      Jan 31, 2024 1:17 AM UTC

      ProSeries does not program the software based on tax law; it programs the software based on IRS Form, Instructions and Publications.

      The Instructions for Form 5695 are not final yet, which is why ProSeries has mostly left it to 2022 /programming.  It is scheduled to be released on 2/7/2024, but because the Instructions are not final yet, it likely will be delayed beyond that.

        InnovativeTaxAuthor
        Level 4
        Jan 31, 2024 2:03 AM UTC

        Interesting....Thank you!

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