Tax extender late legislation check

[UberSuave]

When tax extenders are approved, will Proseries notify us which returns need to be reviewed or amended? I have a few clients that would qualify for PMI deduction but it is not calculating and instead providing a late legislation worksheet with the box checked. How should I set up the return to notify me of passed legislation?

[Just-Lisa-Now- · Accepted solution]

There is a Late Legislation Worksheet that shows up in the list of forms (at the very bottom of the forms in use list in the left margin) in a clients file if you've entered items that may be extended.

I just put a sticky note in the client file for next year...if something happens to be extended, I'll amend then...like I did for the PMI in 2017.

[garman22]

You are assuming these items are extended? I highly doubt they will. But to answer your question, PS will not keep track. We will have to do so. 

[IRonMaN]

I'm assuming they will in fact be extended.  I am also assuming that I will win the lottery for half a billion dollars.  Which do you think is more likely? :wink:

[garman22]

Im going to shoot for a half billion!! Im coming up to live in MN if thats the case. I'll happily become a Viking fan! :laughing:

[IRonMaN]

If that's the case, I'll spilt my winnings 50/50 with you. :+1:

[garman22]

Wahoooooo!!!:moneybag: :moneybag:

[Marc-TaxMan]

Ironman will pay all the income taxes and then make a gift, and pay gift tax too???  Safe bet.

[IRonMaN]

Yes sir.  I am willing to spread the wealth.  Garman can reserve the moving van and start packing up tomorrow.  

[garman22]

Imma coming!!!