These are some of the questions we received about Custom Credits during our Administrator Webinar
Q: What are Custom Credits used for?
A: They are typically used to capture data for reporting purposes that changes with each return so a picklist is not a good solution through Custom Questions. Sites typically use these to capture refundable state credits and any numerical information that may not be captured for reporting purposes when completing the tax return.
Q: I understand. we use to be able to track how many homesteads were processed. When using the software for 2016, there wasn’t a way to capture this information.
A: Depending on the data you are collecting, you can capture this information via Custom Questions if Yes/No or by Custom Credits if you are tracking the amount of the credit.
Q: Are they going to be able to use alpha in custom credits?
A: No, the primary purpose of these fields is to allow the preparer to enter numerical information that changes with each return.
Q: Is there anyway to assign a number to each taxpayer for reporting purposes without using the custom credit section?
A: No, if you want to assign a unique number to a taxpayer for reporting purposes, you will need to create a custom credit. This will allow the unique number to be entered.
blog Posted 10/22/2017