ProSeries EIC entry for "PYEI"

Forum|Forum|5 years ago
January 28, 2021
17 replies
51 views

ProSeries EIC entry for "PYEI" for Line 27 of 1040, per Pub 596 says to enter the 2019 taxable income on the dotted line next to Line 27 of 1040. The system is not allowing this entry. Where in the software can we make this entry since it is giving the tax payer more EIC for 2020. I know this is new this year, so is the program not updated yet with this change? or is there another area in the tax return to make this entry?

Please advise, thanks.

W. A.

ProSeries Basic

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Best answer by garman22

@athaureaux6 wrote:

It is already updated. Just complete parts A and B and the software will write on the dotted line.

You've already tried it and it auto populates based on answering those questions?

T

TaxGuyBill

Intuit typically only does their programming based on finalized Publications, and Publication 596 was just finalized 2 days ago.

The 'standard' turn around time for Intuit to reprogram something is 3 weeks, but perhaps this will be quicker.

BobKamman

Level 15

@TaxGuyBill "Intuit typically only does their programming based on finalized Publications, and Publication 596 was just finalized 2 days ago."

I think they use the Instructions before they look at publications. The 1040 instructions, which I believe were released January 6, include this:

If you make the election to use your 2019 earned income to
figure your EIC, enter “PYEI” and the amount of your earned
income on the dotted line next to line 27.

A

athaureaux6

Level 7

Hi, you can not input anything in Line 27, the software will do it for you, go to the worksheet, look for A and B of the provision and make sure you elected the provision, and that you have an amount and the software will automatically typed it for you on the dotted line. Hope this helps.