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Taxpayer is a partner with a K-1 and has 965 tax. He is making 965(h) election spread out over 8 years. The deferred amount is supposed to be reported on Schedule 5 Line 74 d with "TAX" on the line. Proseries has no way to do this other than overriding and it creates an error preventing efile.
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Thank you for waiting for me. I have checked on this and the override would be the workaround. What I would do is check the Final Review, make sure that you have addressed everything that needs to be, turn off the error checking and e-file the return. We cannot guarantee that it will be accepted, however, it is possible. If it is not accepted, it would have to be paper filed.
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Thank you for waiting for me. I have checked on this and the override would be the workaround. What I would do is check the Final Review, make sure that you have addressed everything that needs to be, turn off the error checking and e-file the return. We cannot guarantee that it will be accepted, however, it is possible. If it is not accepted, it would have to be paper filed.
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Did you prepare F.965 and F.965-A?
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