On a 165 partnership return where you are opting out of includingSchedules L, M-1, and M-2 on the return, most tax software allows you to still show thecapital ... read more
I have a client that Purchase a Business under the S-Corp. for the amount of $58,000 which $14,080 was Furniture and Fixed Assets and the rest is the Business N... read more
I saw directions early from Lacerte and they didn't make sense for my case. The Partnership K-1 was a final one and distribution was made. Line 20 shows code AD... read more
When I go to the state income allocation form the page will display down to about line 19 Where TSA health deductions are allocated, then the screen goes blank.... read more
Rental Property in the previous year was sold and a mortgage taken back. On the Sch E worksheet, Box H was not checked in the year of sale, and subsequently, de... read more
Client has a Schedule K-1 from a Partnership that shows a VCA credit flowing through to the taxpayer. I entered this credit onto Schedule VC on line 3a. The cre... read more
Client sold their second home condo. It would not let me create a Form 8949 as it says it comes from data on Schedule D. When I go to enter data on Schedule D, ... read more
Single client passed in January 2024. The client had a will and chose a close friend as executrix. The close friend relinquished that responsibility to the clie... read more
I e-filed for a client on March 13, 2024. The federal return was accepted right away. However, the two state returns have not yet been accepted by the stated. T... read more
A high school kid ref for hockey, received 1099 nec from school for 1400. I put it as other income.Standard deduction become 1250, taxable income become 150. Sh... read more
So, some of my clients ERTC claims have not been processed as yet, They were timely filed. What happens if they get the funds after 4/15/24...when supposedly, I... read more
trying to request from a client eSignature and get error message saying specifically,"None of the return(s) for the selected client are eligible for eSignature.... read more