What is 50% of $1402 ?

Forum|Forum|6 years ago
December 7, 2019
1 reply
8 views

I am doing a Schedule E rental worksheet for a property owned 50% by my client. I enter the 100% amount and it should show the 50% amount in the adjoining column. However, on Line 16a for real estate taxes, I enter $1,402 and the 50% number comes out as $700.

Anyone else get this result? It reminds me of a problem I had with a TRS-80 back in the late 70s.

ProSeries Professional

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Best answer by TaxGuyBill

That's funny. However, my test file gives me $701.

You have probably done this, but just in case ...

Have you double checked it shows the ownership percentage is 50.000000?
Have you double checked if you entered any personal days?
Have double checked that nothing is entered for an owner occupied rental?
Have you deleted the $1402 and entered it again?
Close ProSeries, open it, update it, and open the client file?

Otherwise, I have no idea, as it works in my test file. Sometimes these weird quirks can be eliminated by deleting the worksheet and re-entering it, but the problem with that is then your assets would be deleted as well, so you probably don't want to do that.

T

TaxGuyBillAnswer

Level 15

That's funny. However, my test file gives me $701.

You have probably done this, but just in case ...

Have you double checked it shows the ownership percentage is 50.000000?
Have you double checked if you entered any personal days?
Have double checked that nothing is entered for an owner occupied rental?
Have you deleted the $1402 and entered it again?
Close ProSeries, open it, update it, and open the client file?

Otherwise, I have no idea, as it works in my test file. Sometimes these weird quirks can be eliminated by deleting the worksheet and re-entering it, but the problem with that is then your assets would be deleted as well, so you probably don't want to do that.

BobKammanAuthor

Level 15

Yes, tried all that except for deleting the worksheet. I changed the 1402 to 1403 and it comes up with 701. My theory is that 701 is a prime number and has some magical qualities, at least on the version of Windows I am using. I entered 1402 on the lines for commissions, and management fees, and the results were 701. But then I entered it on the line for utilities, and the answer again was 700.

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