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1040 E-file errors

F8960-021-01 e-file error

If Form 8960, 'InvestmentInterestAmt' has a non-zero value, then it must be equal to Form 1040 Schedule A, 'InvestmentInterestAmt' unless all of the following conditions are true: 1) Filing status of the return is Married filing jointly or Qualifying widow(er) and 2) Form 8960, checkboxes 'Section6013gInd' and 'Section6013hInd' are not checked and 3) Form 8960, 'FilingThresholdAmt' equals 125000. (rule F8960-021-01)
You'll get this error message if Form 8960, Line 9a, doesn't equal Schedule A, Line 9.

Solution

  1. Review the amounts on Form 8960, Line 9a, and Schedule A, Line 9.
  2. If they're the same, make sure there are no overrides for those lines.
    1. If there are overrides, you'll need to revert to the calculated value and adjust the inputs, as necessary.
    2. Go to the ACA Tax screen in the Taxes folder.
    3. Check the
      Investment interest expense (Force)
       field. Entering something in this field will force a number on Form 8960, Line 9a, when it's not present on Schedule A.
  3. If they aren't equal, and this is correct, you need to meet the following conditions to e-file the return.
      • The filing status of the return is
        Married filing jointly
         or
        Qualifying widow(er)
        .
      • The Section 6013 checkboxes are clear in Part I on Form 8960.
      • Form 8960, Line 14 equals $125,000.
      note
      Per Form 8960 instructions, if the filing status on the return is
      Married filing jointly
      , you need to report $250,000 on line 14. This doesn't meet the 3rd condition. In this example, you need to file the return on paper with Form 8948.

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