Calculation of I 401(k) employee contributions is wrong in ProSeries Basic

[EJK]

Self-employed with Individual 401(k) plan.  When calculating employee contributions for ty 2020, ProSeries Basic indicates max is $19,000 with catch up of $6,000.

When will programmers reflect the proper amount for ty 2020 of $19,500 plus $6,500 catch for total of $26,000?

I have to overwrite the entries right now.

And how do you make "suggestions" to the programmers directly?

[Just-Lisa-Now-]

Simple IRA is wrong too. They havent been updated yet.   

[IRonMaN]

"And how do you make "suggestions" to the programmers directly?"

You can go directly to list of known ProSeries issues at ...............................................  Never mind, it was just a dream that I keep having that Intuit actually listened to us about keeping users informed of defects.  

[Just-Lisa-Now-]

FWIW I added it to the bug list in the back room....but I dont think its an actual bug, its just a delayed update.

[IRonMaN]

"FWIW I added it to the bug list in the back room"

But that's the problem with Intuit ---------------------- too many back rooms that they hide stuff in.  I'm guessing they never really want to provide a list of all of the known issues to its customers out of fear that most of the customers would flee if they saw how many issues there actually were. 

[TaxGuyBill]

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@Just-Lisa-Now- wrote:
 its just a delayed update.

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REALLY delayed, because the IRS announced the new rates in November of 2019.  When it is announced a YEAR before the software comes out, you would THINK they would have those updated when they release the software in November.

https://www.irs.gov/newsroom/401k-contribution-limit-increases-to-19500-for-2020-catch-up-limit-rise...

But Intuit's stupidity is that they program the software based on IRS Publications, rather than anything authoritative.

[Just-Lisa-Now-]

The CARES Act retirement distribution due to Covid that gives 3 years repayment happened back in March, right?  Still no 8915E in the program, its not even in the list of forms to be released.

[IRonMaN]

"But Intuit's stupidity is that they program the software based on IRS Publications, rather than anything authoritative."

Bill - you need to quit trying to hide your emotions.  You should start expressing how you really feel about Intuit 😁

[TaxGuyBill]

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@IRonMaN wrote:

Bill - you need to quit trying to hide your emotions.  You should start expressing how you really feel about Intuit 😁

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If I said what I really thought of Intuit, I would probably be banned for life from the forum.   🙂