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
Latest Update: Version 44.0508 - Release 8Check out modules below to see what updates have been released in this version of your software. (e.g., recent changes... read more
Hi all...A and B form an LLC AB in 2019. A contributes $500 K real estate with a basis of $290 K and no mortgage. B contributes $4 K. They take out $250 K mortg... read more
You didn't get the memo? It says right here in the Manual that IRS issues a memo. 20.1.3.2.7.1(12-10-2013) Estimated Tax Penalty and Reasonable Cause ... read more
The IRS will not allow paper filed returns for the 990 starting in January 2022.Please update your software so Form 990 clients can file short year and 2 tax re... 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
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
When exporting a K-1s for entities that a relatively large number of shareholders, members or beneficiaries, can the entity name and return year be added as a p... 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
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