When code "M" is entered for the type of income for a Military Retirement pension, ProSeries determines the amount that qualifies as a deduction from NC taxable income. This amount is posted in the totals area but is not carried forward to the summary area. When code "B" is used as the type the qualifying amount is posted in the totals area but is also carried forward to the summary area and subtracted from NC taxable income. Please consider an enhancement to have code "M" entries processed with the same functionality as code "B" so the preparer does not have to manually enter the qualifying amount in the the summary area to generate the correct calculation of the taxable income.
Thanks for the enhancement for the qualifying amount of code M in Military Retirement pension to be carried over to the in the the summary area (like code B). We are changing the status to "Open for voting" since it has been around for over 30 days and no longer considered "New".
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