In year one the "Adjusted Gross Income" in the "Taxes" tabular data matches the "Federal AGI" seen in "AGI detail". But in year 2, the Adjusted Gross income has an (unexpected) large drop while the value in the AGI detail has the expected small increase (due to a higher RMD). Shouldn't those two columns in the different tab always be equal?
@stkeros Search the forum for circular reference, there's an issue (due to an Excel thing) where unscheduled withdrawals don't get taxed until the next year, unless you make them scheduled (a work around but I do this for clients once we have the plan locked down anyway). Just in case the problem you're seeing is related to RMD or taxable withdrawals rather than earned income.
@hines202 Thanks Bill. I searched for circular reference but I didn't see an explanation for what I'm seeing (or didn't understand the explanations/workaround). The AGI in the taxes tab has a sudden unexplained drop in year 2 that then persists throughout. It's as if source of income suddenly disappeared in year 2 and never comes back. However the Federal AGI under AGI Detail tab does not have this drop AND it contains the value I expect to see. Summary: Two columns which I would expect to always match (correct or not), do not except for year one. Said differently, the AGI Detail has all the income and deductions I would expect, and it totals to the Federal AGI column. But the Taxes tab has AGI values that are way too low and cannot be correct.
@stkeros Please send (to mail@pralanaconsulting.com) me a representative export file and I'll figure out what's going on.
Thanks,
Stuart
@stkeros Thanks for your file! It turns out that there's one piece of data missing from the tabular projection of AGI: healthcare expenses that are qualified as a business deduction and treated as an income reduction. The actual AGI calculation used in computed your taxes is correct; the error is in showing you the breakdown of your AGI and that's being corrected in v1.9 which will be released later today.
Stuart
