Form 8615 Tax calculating incorrectly.

Forum|Forum|5 years ago
February 15, 2021
6 replies
36 views

I have a Form 8615 with Line 14 amount $1550. Client has no dividends, cap. gains interest etc. Line 15

is calculating tax of $1,018 on that amount??? At 10% shouldn't it be $156??

Any ideas? Thanks!

ProSeries Professional

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Best answer by rbynaker

Another poster mentioned that you have to activate the Schedule D and then magically the math gets fixed. I'd throw this into a spreadsheet and independently calculate the tax until ProSeries starts getting the right answers.

Personally I wouldn't be in a rush to file this until Intuit actually comes out with a fix. There are a scary number of bugs this year.

rbynakerAnswer

Level 13

Another poster mentioned that you have to activate the Schedule D and then magically the math gets fixed. I'd throw this into a spreadsheet and independently calculate the tax until ProSeries starts getting the right answers.

Personally I wouldn't be in a rush to file this until Intuit actually comes out with a fix. There are a scary number of bugs this year.