2012 ProSeries Basic Edition/1040 ReadMe
Release 2012.15f / February 26, 2014
Click on any of the links below to go directly to the topic of your choice.
All 1040 Forms can be filed
Items addressed in this release of ProSeries Basic
Edition/1040
Items addressed in previous releases of ProSeries
Basic Edition/1040
What's new in ProSeries Basic Edition/1040
New ProSeries Basic Edition/1040 forms and worksheets
Obsolete ProSeries Basic Edition/1040 forms and worksheets
Tax legislation issues
Electronic filing
All forms in this release of ProSeries Basic Edition/1040 can be filed with
the IRS.
Items addressed in this release of
ProSeriesBasic Edition/1040
The following issues have been fixed in this release
- Users can now efile returns when the "date PIN entered" is in year 2014.
Items addressed in previous releases of
ProSeries Basic Edition/1040
The following issues were fixed in prior releases
- Release 2012.15c / June 7, 2013 - A correction has been made to prevent
occurrences of reject R0000-058 which could be experienced by returns on
extension if PDF attachments were added to the client's file while in
Extension Mode. If you previously attached PDF files to your client prior to
their extension being accepted, review the client's Form 8453 to determine if
the PDF attachments are present for the return. Any PDF attachments not
identified on Form 8453 should be re-attached to the client prior to
electronically filing the individual income tax return.
- Release 2012.15c / June 7, 2013 - Form 2210-F - The penalty caculation is
now correct on returns filed after 4/15/2013. A special waiver was previously
assumed if no filing date was entered.
- Release 2012.15b / April 26, 2013 - Form 2848 - The fax numbers in the Where
To File Chart have been updated to the most recent fax numbers posted by the
IRS on IRS.gov.
- Release 2012.15a / April 12, 2013 - Louisiana was added to the list of
states in Part VII of the Federal Information Worksheet that are able to
electronically file an extension.
- Release 2012.150 / April 5, 2013 - 2210 Underpayment Penalty Worksheet - The
penalty percentage was corrected to be 3% from April 15 to September 30,
2012.
- Release 2012.140 / March 27, 2013 - Rent from personal property reported on
Box 1 of Form 1099-MISC is now included on the EIC Worksheet as investment
income.
- Release 2012.130 / March 22, 2013 - The What-If Worksheet no longer
defaults Net Investment Income for the 2013 3.8% Medicare surcharge to allow
capital losses in excess of capital gains.
- Release 2012.120 / March 15, 2013 - Form 4562 - The 2007 tables for the
calculation of the leased vehicle inclusion amount, which had previously
been omitted from the program, have been added.
- Release 2012.110 / March 8, 2013 - Form 2441 - A deceased spouse who was
not employed or a student while alive will no longer disqualify the taxpayer
from claiming the Child/Dependent Care Credit.
- Release 2012.110 / March 8, 2013 - Taxpayers with foreign addresses are no
longer prevented from e-filing.
- Release 2012.10a / March 4, 2013 - The IRS is now accepting all paper and
electronically filed returns
- Release 2012.10a / March 4, 2013 - E-file was updated to make it
easier for foreign firms/eros to electronically file returns.
- Release 2012.100 / March 1, 2013 - Form 1040 - An error message has been
removed that prevented efile of a return containing a dependent child with a
relationship of "stepchild".
- Release 2012.100 / March 1, 2013 - Form 2210-F - Has been corrected to not
calculate a penalty if the box on Schedule F is checked indicating 2/3 of
gross income was from farming and tax will be paid by March 1, 2013.
- Release 2012.100 / March 1, 2013 - Form 8582-AMT - Modified adjusted gross
income used in calculating passive activity income for purposes of AMT has
been corrected to include capital gain income.
- Release 2012.100 / March 1, 2013 - Form 1116 Supplementary Statement has
been corrected to include Schedule E income in gross income for purposes of
calculating the foreign tax credit limit.
- Release 2012.100 / March 1, 2013 - Form 8958 - This form has been
modified to better support those wishing to make a single line item adjustment
for allocated community property amounts. All fields, except for the Total
column, are now enterable and modifiable. The initial
calculation on the form still pulls the amounts reported on the tax return and
displays them in column 2 for the Taxpayer. However, you can now modify the
amounts in both the Taxpayer and Spouse columns when allocating.
- Release 2012.090 / February 22, 2013 - Form 8582: Due to late guidance
from the IRS, some returns that previously included a Form 8582 as part of
the return may now be eligible to be filed without Form 8582. Since Form
8582 is on the IRS "late filing" list of forms, these returns will no longer
be prevented from efiling due to containing Form 8582.
- Release 2012.090 / February 22, 2013 - Form 2210AI line 27 amounts and
calculations have been changed to reflect correct prorated social security
tax limits.
- Release 2012.080 / February 15, 2013 - Books and other course related
expenses not paid to an educational institution or required as a condition
of enrollment will no longer be included as qualified expenses for purposes
of the Lifetime Learning Credit.
- Release 2012.080 / February 15, 2013 - Schedule C: The year to year
converter has been updated to no longer convert the 1099 checkbox questions
on Schedule C, lines I & J. This fix will not correct previously
transferred returns but will correct if return is retransfered. You may wish
to retransfer any unstarted returns.
What's new in ProSeries Basic Edition/1040
For information on what's new in ProSeries Basic Edition/1040, open a 1040 return, go to
the Help menu, choose Help Center, then select What's New This Year?
Depreciation Report and Vehicles
Fully depreciated vehicles do not appear on the Depreciation Report until you
enter a current year expense related to the vehicle.
If you need to print the Depreciation Report before you complete this year's
income tax return (e.g. to submit with a personal property tax return), you
must enter at least one expense amount for the vehicle. Mark the expense as
"estimated" and ProSeries will remind you to review the amount before
filing.
We've added the following forms and worksheets to ProSeries Basic Edition/1040 for the 2012 tax year:
- Deductible Home Mortgage Interest Worksheet
- Form 1116 Explanation Statements. Nine new explanation statements have been added to Form 1116, line 8, to explain foreign currency conversion rates used.
- Form 4684 Explanation Statements. Four new explanation statements have been added to Form 4684 page 2, line 27, to explain deductible losses from a home office.
- Form 8958, Allocation of Tax Amounts Between Certain Individuals in Community Property States
Tip: For information about changes to existing forms, start or open a Form 1040 return, go to the Help menu, select Help Center, then select What's New This Year?
We've removed the following obsolete forms and worksheets from ProSeriesBasic Edition/1040 for the
2012 tax year:
- Form 8633, Application to Participate in the IRS e-file Program
- Worksheet F, Recapture of COBRA Premium Assistance for Higher Income Taxpayers
- Additional Dependents Statement
- Alimony Paid Statement
- Form 5884-B, New Hire Retention Credit, and related worksheet
- Refund Card, Your Prepaid Visa Card: Direct Deposit Enrollment Form
- Refund Card, Your Prepaid Visa Card: What's Next
Tip: For information about changes to existing forms, start or open a Form 1040 return, go to the Help menu, select Help Center, then select What's New This Year?
Late Processing of Certain Forms - Update
The IRS is now accepting all paper and electronically filed returns.
A listing of the late processing forms is available at the following
website. List of IRS forms.
For more information, go to http://www.proseries.com/support
or http://www.irs.gov.
For more information about what's new in ProSeries Basic Edition/1040:
- Start a new Form 1040 return or open an existing Form 1040 return.
- Click the Help button to open the ProSeries Basic Edition Help Center.
- Select What's New This Year?
Electronic filing functionality is
available in this release of ProSeries Basic
Edition/1040.
For electronic filing procedures and information, you can click the EF
clients tab (if HomeBase is on the screen) or the EF Clients button on the toolbar (if a
return is on the screen) to go to the EF Clients view. The Steps to E-File section on the right side of
the EF Clients view summarizes the steps that you take when you file a client's return(s) electronically.
- Click a step (in the Steps to E-File section) to see detailed
information in the ProSeries Basic Edition User's Guide.
- Click a button (in the Steps to E-file section) to see
more information about electronic filing.
To perform electronic filing functions, select the File Electronically Step button to e-file the return(s) for the client whose return is currently open on the screen. If you prefer, go to the EF Center and highlight the return(s) that you want to e-file for a specific client. Next,
go to the E-File menu, select Electronic Filing, then select
the appropriate command from the Electronic Filing menu.
Form 8839 cannot be electronically filed
The Patient Protection and Affordable Care Act (PL 111-148) made changes to the adoption credit, effective for tax years beginning after December 31, 2009. To properly claim the credit, required adoption related documents need to be attached to the return, therefore, returns containing Form 8839 cannot be electronically filed.
New in Tax Year 2012
PDF attachments will be supported for electronic filing with Federal 1040 returns
As you create returns for electronic filing, ProSeries will automatically
track attachments required to be submitted with the Form 8453 Transmittal for
an IRS e-file Return (or you can check applicable boxes to identify
attachments). If you would like to attach some or all of these attachments as
PDF files you can now access that option for the Federal 1040 return under the
e-file menu (either from within the return or on the HomeBase when the return
is highlighted). The Form 8453 will automatically keep track of required
attachments that have been attached as PDF.
- Important Note: If you attach all required attachments as PDF the Form 8453 Transmittal for an IRS e-file Return is no longer required to be filed on paper. However if you choose to only attach some of the required attachments as PDF you must still paper file the Form 8453 with the remaining required attachments.
IRS has discontinued the Refund Cycle Chart
For Tax Year 2012 the IRS is no longer publishing a refund cycle chart, therefore ProSeries will no longer include information about anticipated refund dates on the Form 9325 or on the EF Center HomeBase. The IRS has stated that taxpayers can generally expect their refund within 10-21 days. You should direct your taxpayers to the IRS.gov website 'Where's My Refund' page to view information about when to expect their refund.
Electronic Return Originator Information
The IRS requires all software transmitters to validate electronic return
originator information for Authorized IRS e-file Providers. New screens have
been added to the Options Setup Wizard and in Options to collect the ERO name
and address that are registered with the IRS for each EFIN used in ProSeries
for electronic filing. Intuit ProSeries will use the information provided to
verify the EFIN(s) against the IRS ERO Lookup service.
- Important Note: Ensure the information in the IRS
e-services for your EFIN matches what you enter into ProSeries. If unable to
validate your EFIN, Intuit reserves the right at any time to require users of
the Electronic Filing Service to provide additional information verifying that
they are Authorized IRS e-file Providers using a valid IRS issued EFIN.
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