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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
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- Re: 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 in Oregon
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 in Oregon
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.
