Good afternoon Quickbooks Professionals,
I have a client in a similar situation (after military retirement, later diagnosed as 70% disabled). The 1099R shows an amount, taxable amount (both the same) and a code 7 (normal distribution). On the "General Rule" screen of the 1099R section within ProConnect Tax Online, there are fields called "Exclusion percentage" and "Exclusion amount." When I enter 70, .70 or dollar amount, Proconnect Online is not calculating any amount. What am I doing wrong?
