tax software algorthim

Feb 15, 2008 2 Replies
I

i had problems with tax software that was unable to remove treasure bills from state data



what i suspect is going on is that the math for populating state data only can from data entered on federal tax form



software than does some rather simple math and populates the state data--my software cannot modify state data and recalculate data



i suspect that there is a lot of taxware out there that has this problem



incidently i tried working around this by printing out original data that is fed and state tax forms ( remember t,bill data was entered in fed as taxable interest


i then went into fed tax data and entered 1 in the taxable interest and printed out fed and state forms--state form data was in chaos made no sense i probably should have entered something in fed taxable interest larger than



1--i will try 10 and maybe 100

hope this is clear


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R

Are you sure that on the form/worksheet/whatever there is no place to say that this is US Treasuries interest?

For example, in TaxAct, you'd bring up TaxAct's 1099-INT form and you'd put the interest in the box that says something like "Interest on US debt obligations". Or in TaxWise, you'd put a minus sign in the "State Adjust" column on the interest worksheet and then put the amount of interest to get subtracted out on the state return.

-- Rich Carreiro snipped-for-privacy@rlcarr.com

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I

rich found a box that said treasury bills--mayor not be state taxable. data entered in this box is sate exempt

dese;ected my old data and entered correct amount in treasury bill box as expected software never corrected state data i appreciate your help on this---i suspect that prior calculations of state/federal data are in some database that is not modifiable--glad i found this out--i am awaiting help from software--at this point i really could care less but is suspect a lot of people go burned on this ..my state tax form is really easy once i learned how to do it once again thanks for your help and suggestions will keep all posted on this

peter

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