I have a client and her husband, whose entire income is derived from interest, dividends, and capital gains (not taxed), plus a retirement income which is taxed... read more
Taxpayer has tax exempt interest which must be added in on M1M which flows to line 2 of M1. Proseries is taking line 1 - line 4 to get Minnesota income. It shou... read more
Well for the first time in a few years, I can go home at 5:00 like a normal human being on April 15th (or the equivalent depending when the IRS gets a bonus hol... read more
I strongly recommend, once again for next tax season, that on State Returns, especially NJ returns, on the Information Worksheet Part VIII, Direct Deposit, the ... read more
Anybody know what to do about efiling nonprofit short year tax returns, as well as the requirement to file 2 in the same calendar year?The IRS has required this... read more
I have a partnership where ownership is 50/50 split. However, they "eat what they kill" so the profit is based on what they bring in. To complicate matters a bi... read more
I have a client who has been paid 50k (sweepstakes) description per customer. He did not receive a W2-G gambling form or 1099. I have been reading regards this ... read more
I have a client who has a business and in 2023 bought a portable metal building that now uses as a working shop. This one is easily movable. He also bought a... read more
I am working on a partnership return and there was a change in ownership in 2023. The partner that left has a negative capital account. Does that amount need to... read more
Hello,I have clients who have recently inherited assets and are interested in setting up a non-profit and/or foundation for the performing arts in their area. T... read more
How we can adjust section 754 depreciation adjustment in intuit pro-connect. How property purchased on 2021 can be adjusted in 2023 by deducting 754 depreciatio... read more
Within Tax Plans, followed by "Tax," I'm finding the tax due in the very last tax bracket to be wrong, when I do my own calculation. It's correct for every brac... read more
To get the program to report this as a commercial clean vehicle credit instead of the clean vehicle credit. You must skip Part I question 2 which asks "does the... read more
I've had three 1040 clients this week tell me that they got a refund check for the underpayment penalty that was calculated on their 2023 return in ProConnect T... read more