Were we suppose to make a manual adjustment to the RE taxes on 8829, when SALT exceeded 10K on Sch A?

Forum|Forum|6 years ago
December 7, 2019
10 replies
40 views

I saw someone in a FB group asking why ProSeries doesn't make this adjustment on the 8829 automatically...I didnt think that 8829 was subject to the limit, I thought it got first dibs on the RE taxes, then the remainder that flowed to Sch A was subject to the 10K limitation.

I honestly cant think of any of my clients that the situation would apply to, but I'm wondering if this was something I should have paid more attention to.

ProSeries Professional

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Best answer by George4Tacks

There is a nifty worksheet for line 11 (see page 3 of the instructions https://www.irs.gov/pub/irs-pdf/i8829.pdf) Lacerte does not do it either. I think Intuit is hoping IRS doesn't know how to do the worksheet, so we may all get off scott free.

George4TacksAnswer

Level 15

There is a nifty worksheet for line 11 (see page 3 of the instructions https://www.irs.gov/pub/irs-pdf/i8829.pdf) Lacerte does not do it either. I think Intuit is hoping IRS doesn't know how to do the worksheet, so we may all get off scott free.

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IRonMaN

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abctax55

Level 15

Lacerte gives a diagnostic. Every single one that I did the computation manually on came up with the EXACT same result.

But it did give me something to do /S

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