When are "ESTIMATED TAXABLE INTEREST OVERRIDE" and "ESTIMATED TAXABLE DIVIDENDS OVERRIDE" used?

Forum|Forum|4 years ago
August 30, 2022
9 replies
27 views

I was reviewing a client's 1040 and found entries for "ESTIMATED TAXABLE INTEREST OVERRIDE" and "ESTIMATED TAXABLE DIVIDENDS OVERRIDE" on the Schedule B. I think I might be losing my mind, but I don't recall posting either of these entries, and they are in all caps, which I only use when I copy and paste.

I don't recall ever seeing these phrases, and wondering if I entered something elsewhere in ProSeries which prompted the software to post these. Open to any suggestions on this, because I'm totally baffled.

ProSeries Professional

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dkh

Level 15

Weird. Are you the only person that would work on that clients return? Did you look back at last year's return to see if the Sched B had those entries and they were transferred to this year?

D

davetodd11Author

Level 5

Yes, I am the only person who uses my ProSeries. I didn't do the returns last year, but checked the 2020 returns and there is nothing like this in them. I don't find this term in any of the source docs.

The figures from the source docs total:

$122k in Interest and $685k in Ordinary Dividends.

With these INT/DIV override entries those figures on the 1040 are $1.49M and $1.41M, respectively.

IRonMaN

Level 15

You said you didn't do the returns last year. But did someone go in and play with the return after it was finished? You said you checked the 2020 returns, but does that mean you looked at a pdf or paper copy instead of going into the software to see what is in there?

Slava Ukraini!

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