Beginning date for the updates

[athaureaux6]

Hi online community, 

Does anybody have an idea when they are going to start with the updates for TY 2024? It looks that Form 1040 shows the correct standard deduction in the field, but on the left side it seems to have the 2023 amounts. Thanks everybody. 

[IRonMaN]

They released their 1982 Yugo.  At this point in the game they release something that tends not to be functional.  But by releasing something, they can justify charging your credit card now instead of sometime in January when the software is mildly functional.  I don't see that they have provided a release date page yet so everybody is flying in the dark.

[TaxGuyBill · Accepted solution]

It is usually completely useless until mid-December.  If I remember correctly, last year it was completely useless until mid-January.

As a general rule, ProSeries does not update the software until the IRS issues the "final" forms and publications (despite the fact that most of the information was available a year ago), so the new-year updates usually depends on whenever that happens.

[Terry53029]

You should also wait until mid January before transferring clients from 2023 (I only do it when clients drop off paperwork for 2024) otherwise you will wind up with a mess. 

[PATAX]

Please do not take this the wrong way, but one cannot do any returns until January at the earliest, many returns cannot be done until February or after, so why ask about this on November 2nd?

[johnea]

because they seem to be wanting our $$$ already

[Ephesians3-14]

I tried to download the 2024 software today and it doesn't look like it's not available yet. IS IT?

I know it's still the preliminary version (been using it for almost 25 yrs) but I like to "pre-fill" the client's tax return if possible (sale of a personal residence, etc) to get a head start and save precious key strokes and follow ups during tax season.

[PATAX]

@Ephesians3-14 you may save a few keystrokes, but like others have correctly stated, you run the risk of having the potential of even more time consuming problems. Better to wait until January to transfer the clients, and I would not be in any hurry to download the initial version, you can wait a little bit for that too.

[IRonMaN]

Yeah, too many things that can be updated (and screwed up) between now and when the return is actually ready to be completed.  That keystroke saving time now could result in more time eaten up later when you have to fix things.  I never download the program until at least mid January ------------------ I've been around long enough to see all of the oops that happen when the software and client transfers are done too early.

[Ephesians3-14]

That has not been my experience (25 yrs using PS). I'm only pre-loading client data (e.g., DOD for clients who died in 2024, sale of personal residence on the Home Sale wksht, real estate taxes paid, "tagging" the 1099-R worksheet as a reminder to ask the client for that 1099-R b/c Proseries doesn't highlight the 1099-Rs that have no entries in the distribution field, etc.). We will also "tag" (F8) the dependents who are 18 or over - so we can ask the client whether the kid was in college or working as well as 15-20 other fields that we want to be alerted to when preparing the client return. We have a checklist that we reference every year that we use to preload a lot of client info (address changes that the client told us about in the summer, sale of a rental property, new Sch C if the client started a new biz - we can get that Sch C worksheet set up in advance as a reminder that we need that data, etc). 

I don't e-file any returns until early Feb, but "pre-loading" data during Nov-Jan saves us a boatload of time during tax season with relatively no downside risk of doing so. There was one year when the RE PIN numbers didn't transfer over to the State returns and that was a bit of a hassle re-entering those on 700 tax returns that were affected...but that was definitely the exception and all of that work was done in Jan when it wasn't that busy. I'm all for reducing key strokes during tax season, or "tagging (F8) fields where PS doesn't highlight when blank as reminders to me that I need that data from the client. I also tag the status notes so that I make sure those are reviewed before the return is finalized. 

We save LOTS of time pre-loading client data - definitely reduces key strokes during tax season because it's data that we can enter in advance. Less key strokes during tax season = less time = less stress. 

[ljr]

I've downloaded but have not yet transferred files. I will soon ONLY because I use the client checklists to send to clients (half my clients love it and use them - the other half don't even look at it so I'm probably wasting time lol)

I don't input anything until February and there are times I transfer - get my mailing labels and checklists - then delete what I transferred and wait until late Jan to transfer again. Or I transfer and do no input and watch intuit alerts for problems. 

[Greta]

I disagree. As soon as I get the provisional software for 2024, I lay out my and my (extended) family's tax returns. Before the year has ended, I give them strategy advice such as how much to move from traditional  to Roth IRA. How to avoid IIRMA income cliffs. What estimated payment to make. What piece of equipment to buy. My brain gets reacquainted with the software. Then I transfer all my clients. I fill in forms that I wish ProSeries would transfer but they don't: Form 8867, update children's info sheet, auto info for Sch C, Rental boxes to check off, deduction for teachers, expired driver licenses. In Virginia, I need to look back to see what county client lives in and fill that in. Remind clients of BOI reports due end of the year. I wish ProSeries would faintly include social security benefits (as they do with Sch B) so I don't overlook them. This saves me much time once the hectic tax season starts.

[BobKamman]

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@Terry53029 wrote:

You should also wait until mid January before transferring clients from 2023 (I only do it when clients drop off paperwork for 2024) otherwise you will wind up with a mess. 

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Same here, because it seems to me that the more clients are loaded into one year's program, the slower it runs.  Might just be my imagination.  

I thought the November sales were only to subscribers who wanted a discount from the January price.  That might be my imagination, also.  If we were forced to wait till January to pay for it, many of us would be complaining about having to forego the tax deduction for another year.  

[IRonMaN]

"Same here, because it seems to me that the more clients are loaded into one year's program, the slower it runs."

Might be time to upgrade from that Commodore 64 😃