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- 2022 Proseries Form 8962 is not calculating when income over 400% FPL
2022 Proseries Form 8962 is not calculating when income over 400% FPL
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Arnie Wuhrman -- Lake Oswego OR
Level 3
01-17-2023
11:31 AM
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Proseries 2022 is not correctly calculating Form 8962. It's refusing to fill in data when income exceeds 400% of Federal Poverty Line, even though that limit has been waived in American Rescue Plan Act Section 9661. Support says it will be updated by 1/23, but the form is already listed as being ready to print and mail now. BEWARE!
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4 Comments 4
Thomas3
Level 1
01-17-2023
09:12 PM
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I agree 8962 does not calculate correctly for income above 400% poverty level. It makes it difficult to tax plan in Dec. Or provide reasonable give estimate for taxes on Jan 15, 2023. Very disappointing!
Arnie Wuhrman -- Lake Oswego OR
Level 3
01-19-2023
09:44 AM
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As of this morning's update, FINALLY, Form 8962 is properly populating. The return I was working on has gone from $7,000 owed to a $1,700 refund. Phew!
haffcpa
Level 2
02-14-2024
01:23 PM
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The same issue is happening with the 2023 tax software. Form 8962 is not properly calculating.
Frustrated-in-I
Level 8
02-14-2024
01:50 PM
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As I stated in other post on same subject, it wasn't calculating properly on 2/7 but was on 2/9 after the update. Please make sure your software in up to date, including running repair updates.
As an aside, I still don't understand why we have to run updates as well as repair updates to ensure the program is really up to date.
