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H&R Block tax software
Old 03-02-2015, 05:57 AM   #1
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H&R Block tax software

Is anyone aware of any software issues with H&R Block (2014 filing year) tax software?

Here's my issue:

I owe this year.
We are filing married filing jointly.
My wife and I are both covered by a retirement plan 401k at work.
Our AGI is above $116,000.
Yet.....when I enter an ADJUSTMENT amount of $6000 for a 2014 IRA contribution (I have until April 15th 2015 to do this) the program calculation reduces what I owe by almost $1500.00.

According to IRS website if you are covered by a retirement plan at work, and your AGI is more than $116,000, you DO NOT qualify for an IRA deduction.

Publication 590-A (2014), Contributions to Individual Retirement Arrangements (IRAs)

Thanks
Mike
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Old 03-02-2015, 06:20 AM   #2
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I am using H&R Block software but I'm not contributing to an IRA. DW and I are contributing to a Roth. My only suggestion is to check to make sure the right boxes are checked on your W2 forms.

I can't fault your concern. I read the info the same way you do which is why we are going the Roth route. They are allowed to a higher income level.
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Old 03-02-2015, 06:25 AM   #3
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Quote:
Originally Posted by 2B View Post
I am using H&R Block software but I'm not contributing to an IRA. DW and I are contributing to a Roth. My only suggestion is to check to make sure the right boxes are checked on your W2 forms.

I can't fault your concern. I read the info the same way you do which is why we are going the Roth route. They are allowed to a higher income level.
Thanks.

The "retirement plan" box 13 is checked on both of our W2's and they also checked in the program. There must be a glitch in the software. I am going to make an appointment at an H&R Block office and go talk to them.

Mike
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Old 03-02-2015, 06:35 AM   #4
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Quote:
Originally Posted by wrigley View Post
Is anyone aware of any software issues with H&R Block (2014 filing year) tax software?

Here's my issue:

I owe this year.
We are filing married filing jointly.
My wife and I are both covered by a retirement plan 401k at work.
Our AGI is above $116,000.
Yet.....when I enter an ADJUSTMENT amount of $6000 for a 2014 IRA contribution (I have until April 15th 2015 to do this) the program calculation reduces what I owe by almost $1500.00.

According to IRS website if you are covered by a retirement plan at work, and your AGI is more than $116,000, you DO NOT qualify for an IRA deduction.

Publication 590-A (2014), Contributions to Individual Retirement Arrangements (IRAs)

Thanks
Mike
Mike,
I do not have HR Block software, and can't verify what you say, but make sure the contribution was entered into something like an IRA Contributions Worksheet. Then the software will check your entry against your limits. That is how it works in the tax software I've used (Turbotax, Proseries).
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Old 03-02-2015, 07:04 AM   #5
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Mike,
I do not have HR Block software, and can't verify what you say, but make sure the contribution was entered into something like an IRA Contributions Worksheet. Then the software will check your entry against your limits. That is how it works in the tax software I've used (Turbotax, Proseries).

I'll check that.....thank you.

Mike
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Old 03-02-2015, 07:48 AM   #6
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Quote:
Originally Posted by target2019 View Post
Mike,
I do not have HR Block software, and can't verify what you say, but make sure the contribution was entered into something like an IRA Contributions Worksheet. Then the software will check your entry against your limits. That is how it works in the tax software I've used (Turbotax, Proseries).
That's a good check. If you entered the value in the wrong place you may be "overriding" a calculated value the software would have entered.

Also Block has an online chat support, that seems like a simple question to ask them before making a trip to an office.

Customer Support - Contact Options - H&R Block® | H&R Block®
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Old 03-02-2015, 08:44 AM   #7
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That's a good check. If you entered the value in the wrong place you may be "overriding" a calculated value the software would have entered.

Also Block has an online chat support, that seems like a simple question to ask them before making a trip to an office.

Customer Support - Contact Options - H&R Block® | H&R Block®

Thanks.

Contacted them and gave them the link to the IRS.gov website where it shows I DO NOT qualify for an IRA deduction based on my AGI.

They said: "Yes you're right, you DO NOT qualify for an IRA deduction based on the information on the IRS.gov website" (I'm glad they set me straight ) and someone will get in touch with you in 2-3 business days!

Mike
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Old 03-02-2015, 02:08 PM   #8
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Also used H&R Block. Sometimes, to save time, I just use the "override" feature to enter the correct number on the actual IRS return.

Sometimes, answering questions, and having the software enter the data
can be confusing.

However, be careful. If you do not know what you are doing, you can miss
deductions or make other errors.
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