Good morning,My client built a small home office separate from his home. I'm trying to find specific IRS guidance if this is a direct expense since it is not at... read more
Hello Community,I have a question that I am perplexed over.I have a client who with his mother is on the title of his mother's house as a co-owner. He does not ... read more
It took two tax seasons but we can finally print letters and single forms without having to switch to state and then back to Federal. P.S. Customer Service - ta... read more
The following diagnostic is generating: Manually prepare a supplemental statement to be included with each partner's PA Schedule RK-1 and/or NRK-1 for "Nontaxab... read more
Client did a $6,500 in 2023 and $7,000 in 2024 traditional IRA contribution (8606 was done in 2023 and 2024). Did the conversion of $13,535 ($35 in interest) in... read more
Hi, client paid a contractor $100K+ for primary residence capital improvements. The contractor is bankrupt and this money is deemed lost. Would this be a capita... read more
On New York IT -204 Line 105 the total amount from federal Form 1065, Schedule K, lines 20a through 20c should be reported. The Lacerte is not transferring info... read more
Good day all,I have a client who rented out his personal residence for less than 10 days. The rental income is exempt under 280A(g). The tenant issued a 1099- M... read more
Husband & Wife (MFJ) sold a home to their son that has been renting it for a number of years (sch E has been filed for previous years). Closing statement shows:... read more
How do you enter 2 1098-T Forms for the same student in ProConnect? I am entering them on the parent's return. One form shows a scholarship and the other is jus... read more
