ProSeries- MN returns-Mutual Funds

[Beth]

I need help fiding where to enter something in ProSeries. Client has a mutual fund which derived a percentage of the income dividend from US obligations.

Where do I enter this to make the adjustment on the MN return?

[JON]

Do not use PROSERIES

but right on dividend input is there not a column for % US Govts?

[Beth]

ProSeries- MN returns-Mutual Funds

That would be easy,. but no. There is a worksheet that opens up for entries, but it only seems to want items from the boxes on the 1099DIV, and only box 1 has entries.

The reality is that the % earned as a result of US obligations should be able to be subtracted on the M1, and I think maybe I will have to do an overide to get that to work.

Thanks for trying to help though!

[fliszt]

Double

click on the Company that you entered on the dividend sheet on the 1040 side. You'll pull up a "dividend entry worksheet". I think you can then make your adjustments on that sheet,

[Beth]

ProSeries-MN-Mutual Finds

Yes, I found that sheet, but I do not see where this would be entered. The worksheet asks for entries from other sources, and then totals them.

Is there something I am missing?

[BOB W]

Support....

.... you should be calling ProSeries support, they should have a quick answer for you.

[Mike Mac]

Answer to your MN Proseries Question

Beth,
Go to the the Dividends Smart Worksheet on Schedule B. Double-click on the Payer's name line (or in any of the Dividend amount lines) to bring up the "Dividend Info Worksheet". Go down to Line #4 "U.S. Government interest included in dividend" and enter the amount of the the U.S. obligation. This will transfer as a subtraction item on the MN state return. (I just double checked that it worked right before I replied).

Mike
Mike's Tax Service
(St Joe, MN)