Many of my clients are seeing thousands more in interest income this year, so their tax bill is higher. Combine that with a higher rate for figuring ES penalty,... read more
Hoi to all,new client self-employed in PA when I mark onFor the first client who owes $220, I was wondering if this amount can be withdrawn automatically from t... read more
Hi Friends,Just started working on a rental 1065 Return and it looks like the previous tax professional misclassified a roof replacement as "flooring" in 2022. ... read more
I have a 22-yr old taxpayer. She's a full-time student and lives in the state where her college is. She has $1000 of earned income. Her parents will claim her a... read more
I need some assistance with a client that I have. Going to post the gist of their forms below.1098-T: Box 1 - $10,089 & Box 5 - $2,500.001099-Q: Box 1 - Gross D... read more
Ok, I did this to myself. Opened a return with Missouri proforma'd. Got a dialog box - MO is not installed, would you like to install it now? I said No. Doh! I ... read more
On a 2023 Form 1065, I cannot get the income on M-2 Line 3 to match Form 1065 Page 5 Line 1. I know what the "problem" is but I cannot figure out what to do to ... read more
How do I get the tax credit to flow to this box?Utah Form TC-41A Pg.2 Part 5 b.Less nonapportionable refundable credit distributed to beneficiaries on Schedule ... read more
To report capital improvements that were made the same year of sale of the rental property. Is it proper to enter them as a separate asset and report them as so... read more