ajp's Posts

cancel
Showing results for 
Search instead for 
Did you mean: 

ajp's Posts

You get a better deal than I do.  Just to get power tax light, the network version, and the required fast path, I am at $7,758.37 after sales tax.  I just called to see how much more for the power ta... See more...
You get a better deal than I do.  Just to get power tax light, the network version, and the required fast path, I am at $7,758.37 after sales tax.  I just called to see how much more for the power tax library.  It was quite a jump!  I couldn't quite get a good list of what it included, but I think I got the gist of it.  Amy
This seems to be a new protocol.  All summer, investment firms will only fax or mail items to me.  We actually got rid of our fax line several years ago.  When I need to fax out, which is rare, I use... See more...
This seems to be a new protocol.  All summer, investment firms will only fax or mail items to me.  We actually got rid of our fax line several years ago.  When I need to fax out, which is rare, I use one of the online fax services.  I also don't understand how fax is more secure than email. 
I did.   It seems to be working now.  The update from 10 to 11 messed up our network pathways and/or sharing.  I am a little fuzzy about which (both?) were needing help.  We straightened those out, ... See more...
I did.   It seems to be working now.  The update from 10 to 11 messed up our network pathways and/or sharing.  I am a little fuzzy about which (both?) were needing help.  We straightened those out, did the repair updates again, and everything seems to be in working order.  
Windows did a big update on the server, moved to Windows 11, and now every year of proseries on the workstations has the common files error.   Will I really need to reinstall every year of proseries... See more...
Windows did a big update on the server, moved to Windows 11, and now every year of proseries on the workstations has the common files error.   Will I really need to reinstall every year of proseries?  Or is this caused by something else?  
It seems that ProSeries has features that I am not using.  However, I have other software for these tasks.  I am thinking of eliminating the redundancy.  Which features do you find useful and which s... See more...
It seems that ProSeries has features that I am not using.  However, I have other software for these tasks.  I am thinking of eliminating the redundancy.  Which features do you find useful and which seem like overkill.  For example: we use account edge for our firm's accounting.  This includes a nice billing platform.  Proseries also allows for billing, but I don't see how it would be that useful since I would still need account edge for the rest of it.  I really don't like quickbooks, but we currently have that too because of a few clients.  It probably won't be renewed. Amy
I'm curious as well.  I agree that the pricing has gone crazy.  Other companies seem to be more competitive, but I worry about what I will lose and, eventually, regret.   Do you only do 1040's?  I s... See more...
I'm curious as well.  I agree that the pricing has gone crazy.  Other companies seem to be more competitive, but I worry about what I will lose and, eventually, regret.   Do you only do 1040's?  I struggle to find options that support all the forms I use.  Yet, I'm not certain the amount of business I do with some of the other forms is worth the cost.  However, whenever I've asked proseries to break it down, they don't do so in a way that is useful to me. I would also love a follow up. Let us know if everything went smoothly or not.  
It will do it.   How did you access the asset entry page?  I have found it to work best if I jump to it through the smart worksheet.   Then you have to see where it is being allocated.  If it is al... See more...
It will do it.   How did you access the asset entry page?  I have found it to work best if I jump to it through the smart worksheet.   Then you have to see where it is being allocated.  If it is allocated to the beneficiaries, it won't show up on line 18.  You can see this inside the smart worksheet box as well.  I hope this helps! Amy
Interesting! Maybe someone else will chime in, but since a Schedule C is for self-employment, resulting in self-employment tax, it doesn't really work well for a trust.  I would keep that part on th... See more...
Interesting! Maybe someone else will chime in, but since a Schedule C is for self-employment, resulting in self-employment tax, it doesn't really work well for a trust.  I would keep that part on the person's personal return unless income is being reported specifically for trust property.  If the property is in the trust's name and is still being rented, I would move the rental income to a schedule E on the trust return. I'm interested to hear other responses.  I understand that certain rental stuff (ie AirBnB) is usually on schedule C if it falls on a personal return.  I know I've read something in regard to its treatment within a trust, but I can't seem to pull out a proper reference! Amy
We need more information.  Is this a trust or an estate? Typically, Schedule C isn't on a 1041.  Why is there one for your client?   
I disagree.  If he had several trust accounts, they may have all been revocable until his death, in which case, this would be treated as an estate.  
Yeah, we've used it a work around before, but possibly only with paper returns.  Darn. 
It is an estate. I would use an alternate year beginning at date of death.  First year, May 2022-April 2023.  Second year, May 2023-April 2024.  This isn't that unusual.  The 1041 may end up with a b... See more...
It is an estate. I would use an alternate year beginning at date of death.  First year, May 2022-April 2023.  Second year, May 2023-April 2024.  This isn't that unusual.  The 1041 may end up with a balance due if funds were held up/not distributed because of the disagreement.  Hopefully, the second return will be the final return.   Amy
Filed a 1041 for 2022.   In early 2023, they sold the final parcel.  I prepared a short year return so that everything can be final.  I know I've done short year returns before by using December 31s... See more...
Filed a 1041 for 2022.   In early 2023, they sold the final parcel.  I prepared a short year return so that everything can be final.  I know I've done short year returns before by using December 31st as the start date.  However, this time, I can't file the return electronically because I've already filed a return for that trust.  This is marked "final" and has a short year.   Will I have to file a paper return since we don't want to wait until next year? Amy
Thank you Norman for both responses.  I hope it worked.  My client went through the link, but he thought it was odd that it wanted to send his stuff to turbotax.  I thought that was odd too.  We wil... See more...
Thank you Norman for both responses.  I hope it worked.  My client went through the link, but he thought it was odd that it wanted to send his stuff to turbotax.  I thought that was odd too.  We will see if it worked.   Amy
Is it possible to import a 1099-B Brokerage statement from Charles Schwab?  If so, can you point me to directions? Client started day trading -- we now have a 1400+ page document with a full 1/2 bei... See more...
Is it possible to import a 1099-B Brokerage statement from Charles Schwab?  If so, can you point me to directions? Client started day trading -- we now have a 1400+ page document with a full 1/2 being the brokerage statement.  Lots and Lots of wash sale disallowed.  I ~really~ don't want to enter in all the adjusted transactions manually.   Also, has anyone heard of Mark to Market?  He seems to think this election will help him out of the tax that will be due because of all the wash sale disallowed losses.  I read on it briefly, and I am failing to see how it would help with this.  I would love more information.  Thank you,  Amy
That is interesting Lisa.  I would delete the file and transfer again if I hadn't already had a lot of time with this return.  Amy
I have a similar issue.  Vehicle from 2014, special depreciation used that year, and it has been fully depreciated.  However, the program is trying to depreciate it this year too.  When I look at the... See more...
I have a similar issue.  Vehicle from 2014, special depreciation used that year, and it has been fully depreciated.  However, the program is trying to depreciate it this year too.  When I look at the history, it has zeros for several years. If I enter the full amount of depreciable basis for "prior depreciation" it still won't remove the current year depreciation, but it does give me a nice error for trying to depreciate more than allowed.   I was thinking it might be a software bug and I am hoping an update will solve.   
It ended up being that we needed to verify a preparer's PTIN number.  
Simple return, says I can't file because of an error.  Yet, there are no errors to be found.   Is anyone else running into this?  I have checked for updates.  I have been able to file a couple retu... See more...
Simple return, says I can't file because of an error.  Yet, there are no errors to be found.   Is anyone else running into this?  I have checked for updates.  I have been able to file a couple returns.  
Finishing up a 1041 for a trust.  The trust receives several K-1s from CA partnerships.  These have "California adjustments" that change the amounts in boxes 1 or 2.  How do I make these adjustments?... See more...
Finishing up a 1041 for a trust.  The trust receives several K-1s from CA partnerships.  These have "California adjustments" that change the amounts in boxes 1 or 2.  How do I make these adjustments?  I can't find a place on either the federal form where the K-1s were originally inputted or on the CA form.   Amy