1040-US ELF: Error Code F8960-021-01

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Error Code F8960-021-01: If Form 8960, Line 9a 'InvestmentInterestAmt' has a non-zero value, then it must be equal to Form 1040 Schedule A, Line 14 'InvestmentInterestAmt' unless all of the following conditions are true: 1) Form 1040, Line 2 checkbox "Married Filing Jointly" or Line 5 checkbox "Qualifying Widow(er)" is checked (element 'IndividualFilingStatusCd' has a value of 2 or 5) and 2) Form 8960, checkboxes 'Section6013gInd' and 'Section6013hInd' are not checked and 3) Form 8960, Line 14 'FilingThresholdAmt' equals 125000.

If you receive this rejection, compare Form 8960 line 9a and Schedule A line 14 to verify they match. If they do match, verify there are no overrides on Form 8960 line 9a or Schedule A line 14 by pressing CTRL+D to access the Federal diagnostics window. If there's an Overrides tab, then there are overrides within the return. If there are overrides on Form 8960 or Schedule A, you will need to remove the overrides and revert to the calculated data by placing your cursor in the field containing the override, and choosing Edit > Overrides > Delete Override.

Check for input in the Investment interest expense (Force) field on Screen ACA Tax in the Taxes folder. This will force a number on Form 8960, line 9a when it is not present on Schedule A. line 14.

If Form 8960 line 9a and Schedule A line 14 are not equal, and this is the correct reporting, then the following conditions must be met:

  1. The filing status of the tax return is Married filing jointly or Qualifying widow(er)
  2. The Section 6013 checkboxes are not checked in Part I of Form 8960.
  3. Form 8960 line 14 equals $125,000.

Note: Per 8960 instructions, if the filing status on the return is Married filing jointly, UltraTax CS will report $250,000 on line 14 which does not meet the 3rd condition.

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