Why is ProSeries not calculating the rental income on the EIC worksheet? My client had $3962 in rental income and the system gave my client EIC.

Forum|Forum|4 years ago
August 4, 2021
1 reply
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ProSeries Professional

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Best answer by Just-Lisa-Now-

This was their main home for the first 69 days of the year then they rented it out for the rest of the year.

Ohhhh....Im thinking it has something to do with inputting personal use days.

You shouldn't be inputting personal use days unless they used it personally AFTER it became a rental.

Just-Lisa-Now-

Intuit Community Champion

Can you give a more complete account of the other income/loss on the tax return?

Im guessing you've followed the money through the EIC Worksheet, right? Which part isnt making sense?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

J

jllongAuthor

Level 3

The client had $27,142 in taxable wages, $222 interest, $15 dividends, $14 capital gain, $21,409 Sch C income and the $3,962 in rental income for an AGI of $50,951. Standard deduction & QBI of $3,979 for a taxable income of $22,172. The system calculated $496 of EIC. The IRS is disputing the EIC.

Just-Lisa-Now-

Intuit Community Champion

when you look at the EIC Worksheet, can you follow the money through the worksheet and see where it goes wrong?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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