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Form 8606 calculation change

amylcpa
Level 2

Has anyone else had their Form 8606 and taxable IRA distributions calculation change automatically by ProSeries recently? What is going on?

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4 Comments 4
CPA808
Level 1

I have a client who received a 1099-R with code 4.  In previous years it showed up as taxable. Now it shows up as non-taxable and I have to override the field to make it taxable.  It appears that if you have multiple IRAs the program cannot differentiate between which one the distribution in coming from.

TaxGuyBill
Level 15

Yes, an update from last week messed up IRAs and anything to do with a 8606 so it is not currently calculating correctly.

amylcpa
Level 2

ProSeries calc was working correctly and then just recently changed.  The return I had prepared and printed and gave to my client was correct and then the change occurred automatically upon efiling and the whole amount was made non taxable.

amylcpa
Level 2

Anyone know when ProSeries will fix that?  UGH