Update TT SW today (12/23/23) and got a different refund from what I had previous (just tweaked end of year numbers)...On further review Line 34 is wrong, Should be Line 33 - Line 24 (29,945-29,557 = $388) but appears to be Line 33 - Line 18 (29,945 - 29,744 = $201)
I ran a quick test. The numbers are not exact but the calculation appears to be correct.
Yep...its correct in your case so there must be a conditional error. Try it with a value in line 18 and a Section 3 credit on the following lines....In my case the answer is clearly wrong...
I can only suggest holding off until the next update is released. There is no one around to whom the issue can be reported until next Tuesday at the earliest, anyway.
This is the second post I have seen mentioning this sort of calculation error involving Schedule 3 with the 12/21/2023 release:
@Cannoneer7724 wrote:
Try it with a value in line 18 and a Section 3 credit on the following lines.
I tried a few different credits on Schedule 3 and did not have the problem. It must be one specific credit that causes the problem, not just any Schedule 3 credit. It will help to get the problem fixed more quickly if we can identify the specific credit that causes it. To try to narrow down the problem, and see if we can reproduce it, what is the amount on your Form 1040 line 20? On Schedule 3 Part I (lines 1 through 8), which lines have amounts, and what are the amounts on each line?
Schedule 3 Line 5b = $187 so 1040 Line 20 and Line 21 become $187...
This is the exact amount of the error.
1040 line 22 and line 24 correctly reduces taxes due by $187 (Line 18 - Line 21)
but the refund is not correct...1040 Line 34, the refund, should be Line 33 - Line 24 but appears to be Line 33 - Line 18...$187 credit is "lost"
@Cannoneer7724 Maybe they will want to see a diagnostic file next week after the holiday. Post the Token number you get. The file is stripped out of all your Personal Info
TurboTax Online
1. Sign into your online account and select Take me to my return
2. Locate the Tax Tools on the left hand side of the screen.
3. A Drop down will appear. Click on Tools, then Share my file with agent.
5. This will generate a message that a diagnostic copy will be created. Click on OK, the tax file gets sanitized and transmitted to us.
6. Please provide the Token Number that was generated onto a response
OR
TurboTax Desktop
1. Click into your return.
2. Click Online and select "Send Tax File to Agent".
3. This will generate a message that a diagnostic copy will be created. Click on OK, the tax file gets sanitized and transmitted to us.
4. Please provide the Token Number that was generated onto a response
@Cannoneer7724 wrote:
Schedule 3 Line 5b = $187 so 1040 Line 20 and Line 21 become $187...
This is the exact amount of the error.
Thanks. I was able to reproduce the problem. As you said, the Energy Efficient Home Improvement Credit on Schedule 3 line 5b gets "lost" from the Form 1040 line 34 calculation. I will pass on this information, and my test tax return, to TurboTax. I don't expect any response until after Christmas, and even then, it typically takes them a few weeks to get a fix into an update.
Much of the 2023 program is still under construction and there will be many many updates to come in the next couple of weeks. There are no bugs or program errors until after the estimated date of availability which you can check by either clicking on the REVIEW tab in the program or going online here : https://form-status.app.intuit.com/tax-forms-availability/formsavailability?albRedirect=true&product...
It's not uncommon for such misbehavior to go unnoticed by the developers and TurboTax Product Quality until they are made aware of the problem by users, so it's reasonable to report all such instances no matter when during the release process they arise. Doing so also helps TurboTax Product Quality prioritize the correction of problems by allowing them to gauge how many users might be affected.
A month has gone by, I have the most recent update and the problem is still there.
Line 34 is supposed to be Line 33 minus Line 24. It's not. 29945 - 29557 is 388, NOT 201.
The error is exactly equal to Line 21 ($187). Line 21 IS correctly incorporated into the the "tax withheld" sums in Line 22 and 24. My Line 23 is 0. Line 33 is thus correct (29945).
So in doing what should be simple subtraction, Line 33 - Line 24, the code is somehow deducting $187 from the refund even though it is a valid credit (energy efficiency) from Schedule B, Line 3.
I'm not excited about losing $187 because of an obvious SW bug, Its subtraction. not rocket science...I know because I am a rocket (missile) engineer.
The Form 5695 Residential Energy Credits for tax year 2023 has not yet been finalized in TurboTax.
The Form 5695 is scheduled to be available in TurboTax on 02/07/2024 (subject to change).
Go to his TurboTax website for forms availability - https://form-status.app.intuit.com/tax-forms-availability/formsavailability?albRedirect=true&product...
@Cannoneer7724 wrote:
Americal Division?
Yes. 1969 - 1970. 196th Light Infantry Brigade. LZ West