PS20: 2020 Schedule J Income Averaging for Farmers: Base Year Information Worksheet

Forum|Forum|5 years ago
March 1, 2021
6 replies
35 views

@IntuitAustin

PS20

2020 Schedule J Income Averaging for Farmers and Fishermen

go to: Base Year Information Worksheet

at: Part I Base Year Income Information

look at: Line 4, 2019 Form 1040, line 11b

The amount that is rolling from PS19 into column 19, line 4 of this 2020 worksheet is NOT 2019 Form 1040, line 11b. Please explain.

ProSeries Professional

This topic has been closed for replies.

Best answer by IntuitAustin

Closing the loop on this, it looks like this fix went out recently for ProSeries.

Let us know if you have any questions!

Cheers

The_AntiTax_ManAuthor

Level 7

@IntuitFlora @IntuitAlicia ??

IntuitCharlene

News Author

Thank you for tagging us in this issue. I have done some testing and it does seem like returns that had QBI deductions in the prior year may not be transferring the amount from 11b. I have submitted a request for our escalation team to look into this to see if the program is treating this correctly or not. If you feel this is incorrect per your research the program will let you change the amount on line 4 without needing an override. We'll let you know once our escalation team gets back to us.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Accept as solution" and then just changing the Accept as solution to Mark as Best Answer, mine gets cutoff, so it is too long. I changed mine to the following and it fits. -->**Say "Thanks" by clicking the thumb icon in a post**Click "Mark as Best Answer " to mark the post that answers your question.

The_AntiTax_ManAuthor

Level 7

@IntuitCharlene I concur with your testing finding. I assume it is a PS programming error as I find nothing in the Schedule J instructions to support the PS method of computing the amount on the worksheet. Please let me know what you find out ASAP. Thank you for your assistance in this important matter.

Sign up

Login with SSO

Let's get you signed in

Login with SSO