Proseries 8962

[kathyc2]

Anyone else having issues with 8962 not computing? Line 24 is 1400 line 25 is 2928, but it's not putting the repayment on line 27.

[Twin Turbo Z]

Go to the information worksheet and scroll down to "dependent of someone else". Choose no and all will flow.

[kathyc2]

Good grief! Took support 1/2 hour to tell what TT did. Now, it's now pulling the incorrect amount to Sch 1 line 29. Net SE income is 4,422 and it's pulling in 1800., He paid significantly more than the 4,422. Can you answer it before support does?

[kathyc2]

This is absolutely insane. They don’t have a clue why line 29 is not correct, and I don’t think she understood how it is calculated.

Here’s the situation: MFJ, have W’2 and both have small Sch C businesses. Her net profit is 5495 less ½ SE of 388 leaves 5107. I direct entered SEHI amount on her C 5,103 which is Medicare, supplement, etc.

His Sch net profit is 4758 less ½ SE of 336 leaves 4422. He paid 5,765 for ACA plan and has a repayment amount of 1,522. Should not the amount of line 29 for him be 4422? Pro is calculating it to be 1824. I have the 1095A linked to his business.

Moral of story is if you have a Sch C with a 1095A check the math and don’t rely on software.

[Twin Turbo Z]

If you dont link the 1095a to schedule c ? She has medicare ? Is the 1095a for both ? Yes I know, support sucks. They have several local tax rates wrong and I have been trying to get them to correct them. They should have a global option to change "generic" tax rates (IMHO).

[kathyc2]

If you dont link the 1095a to schedule c ? She has medicare ? Is the 1095a for both ? Yes I know, support sucks. They have several local tax rates wrong and I have been trying to get them to correct them. They should have a global option to change "generic" tax rates (IMHO).

Yep, I'm just going to unlink it and put the 4,422 direct on C worksheet. Really pisses me off to pay for premium software and it does stuff like this and they have no reason why. Pisses me off further that I spent close to 2 hours on it. Heck with it, I'm going to have wine and chocolate for dinner!

[Twin Turbo Z]

I will be right over !!! Yes I agree, but considering all the **** code changes, it could have been worse.

[Twin Turbo Z]

Just had one similar, self employed couple (two C's) and 1095A. But their income was lower this year, so they have a tax credit coming. Linked 1095a to C and it figured correctly. Must be a part III issue.

[kathyc2]

Ok, I sheepishly need to admit the incorrect calculation was operator error. When I linked the 1095A I entered numbers for months rather than using drop box. Entering 1 produced a result of October rather than January.

However, if the SEHI is coming from the 1095A rather than direct entry on C worksheet, it is not using the amount to reduce the QBI income. Something people will want to be aware of.