Hello! Please forgive any ignorance in my question as this was my first year doing taxes as a sole proprietor. At my previous firm, we had a very intricate work... read more
I hope this is clear. My client has a brokerage account with LPL Financial and received a 1099 Consolidated statement. The statement includes OID, and interest... read more
Interesting provision from the tax bill released today for the House Ways & Means Committee hearing tomorrow: Sec. 112211. Restriction on regulation of continge... read more
My client sold two rental properties and the combination of sale turned into like $27k in loss. The entire loss is being deducted (through schedule 1) instead o... read more
how do i enter Canadian interest and pension income on US joint federal tax return. Where do i show conversion of Canadian dollars to American dollars?
I have 2 taxpayers who are unmarried but live under the same roof with their 2 children. The parents of the children both work outside the home. The father of t... read more
I have an issue with my Fast Path. I have been on the phone with your customer service, IT and billing department all week. We were facing a May 1st deadline fo... read more
I'm doing a partnership return that has a net rental loss for the year in Proconnect. When I run the returns though, the basis worksheet is showing an increase ... read more
Has anyone had problems with Tax Advisor not factoring in capital gains rate in estimating tax, thus subjecting return into AMT? My projection has a $21,000 AMT... read more
How are one-person solo 401(k) plan employee and employer contributions reported on the tax return of a sole proprietor in ProConnect Tax? Where in Input Return... read more
Greetings. I am working on joint federal tax return. Husband and wife were both disabled in 2023. Wife received a W-2 from Unum Life Insurance Company reporting... read more
Hi to all.Warm greeting to you after this tax season!Client did not file her 2023 tax return and also she has a saving account in Canada over $10000.Considering... read more
Has anyone been receiving what appears to be incorrect underpayment of estimated tax penalty letters on Forms 1041 for tax year 2024? We are on about our 6th on... read more
