We have MFJ clients who are just above the standard deduction (example: $24,950) for TY2020 but ProSeries is still auto-filling the standard deduction until the itemized deductions go above $25,100 (the standard deductions for TY2021). Is this a known issue?
Just wanted people to be aware. It only fits a few small population, but still an error.
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As a follow-up, the program will also allow you to take the $300 charitable contribution deduction if the clients are in this range.
Never mind. I understand why now. you will get a bigger deduction if you take the standard deduction and then the $300 charitable credit deduction. Sorry it's been a long season already...
"Sorry it's been a long season already..."
But it's all downhill from here 🙃
Downhill....in a dumpster....that's on fire.....heading for a pool of gasoline.
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