Solved: Income tax due not calculating after adding additional income.

jstevent · ‎12-07-2019

Client provided late 1099-B and 1099-DIV. Opened tax file and added the new capital gains and profits from forms. ProSeries adjusted the income to show the new correct taxable income. The Tax Table value for old taxable amount was $3744 (taxable income of 34,355). The new taxable amount is $43,616 - tax table shows $4854 taxes due. ProSeries does not adjust this amount. Client info (Soc Sec, Birthday, etc is correct).

What am I missing to get the correct tax due to show?

John

abctax55 · ‎12-07-2019

1) IF that file contains confidential info, you need to remove it immediately

2) 1099-B indicates capital gains, and dividends might be qualified dividends. DID you consider that in determining the correct tax amount?

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"

View solution in original post

AshleyatIntuit · ‎12-07-2019

Removing client file for security purposes

AshleyatIntuit · ‎12-07-2019

Also try f9/f10 to recalculate the return

abctax55 · ‎12-07-2019

Thanks Ashley

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"

jstevent · ‎12-07-2019

thanks for removing file. f9/f10 didn't change anything.

jstevent · ‎12-07-2019

I did not check the Qualified Div worksheet. They were qualified and did not get taxed.

jstevent · ‎12-07-2019

thanks to all for help. I was getting frustrated.

abctax55 · ‎12-07-2019

YVW...it happens to us all.

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"

abctax55 · ‎12-07-2019

1) IF that file contains confidential info, you need to remove it immediately

2) 1099-B indicates capital gains, and dividends might be qualified dividends. DID you consider that in determining the correct tax amount?

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"

Income tax due not calculating after adding additional income.

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