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ProSeries Frequently Asked Questions

Transfer of Illinois Prior-Year Overpayment or Balance Due to the Federal Carryover Worksheet May Be Incorrect

Products Affected:

• ProSeries/1040
• ProSeries Express/1040
• ProSeries Basic/1040

Situation

If you transferred data from a 2005 ProSeries client file using 2006 ProSeries/1040, version 2006.02 or earlier, ProSeries Express/1040, version 2006.06 or earlier, or ProSeries Basic/1040, version 2006.01 or earlier, AND the client claimed any of the following credits on the 2005 Illinois Form IL-1040:

• Line 19, Income tax paid to another state while an Illinois resident
• Line 20, Illinois Property Tax Credit
• Line 21, K-12 Education Expense Credit
• Line 22, Earned Income Credit
• Line 23, Income tax credit amount from Schedule 1299-C

then the Illinois taxable state tax refund amount or the income taxes paid amount transferred to the Federal Carryover Worksheet is incorrect. 

Solution

How the information is transferred is corrected in ProSeries/1040 (version 2006.03), ProSeries Express/1040 (version 2006.07), and ProSeries Basic/1040 (version 2006.02) updates anticipated to be available online on or about January 24, 2007. Download and install the appropriate update when it becomes available. (From the Update menu, choose Update Installed Products.)

Correcting Data Transferred With an Earlier Version

Installing the latest update will not correct data that was transferred using an earlier version. To correct this data, edit the 2006 Federal Carryover Worksheet.

1. Refer to the 2005 Illinois return to determine the correct taxable state tax refund amount or the correct tax due amount.
2. Open the 2006 federal Form1040 return and go to the Federal Carryover Worksheet.
3. For an overpayment, enter the correct amount in column (f), Total Overpayment, in the 2005 State and Local Tax Information section.
4. For a balance due, enter the correct amount in column (e), Paid With Return, in the 2005 State and Local Tax Information section.
5. Save the return.

Note: If you are using ProSeries/1040 or ProSeries Express/1040 and you have not started data entry on the return, you have the option to retransfer the return after installing the update.

1. Go to the Tools menu and select Options.
2. In the Options dialog box, select Transfer and then check the Overwrite Existing Client Files box. Click OK to close the Options dialog box.
3. Go to the File menu and select Transfer. Transfer the data from the client's 2005 ProSeries or ProSeries Express client file again.

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