sffdib's Posts

sffdib · ‎03-13-2021

FTB 3539 looks complete, I don't see electronic authorization form attached, just the 8453-C but banking section is blank even though I have "Extension" box checked for Use electronic funds withdrawa...

FTB 3539 looks complete, I don't see electronic authorization form attached, just the 8453-C but banking section is blank even though I have "Extension" box checked for Use electronic funds withdrawal, Federal as well. ProSeries will not allow me to efile it. Any ideas?

sffdib · ‎03-13-2021

Is there an updated link to this page? I cannot find the same page for year 2021.

sffdib · ‎03-13-2021

Why is 8878 greyed out? Cannot be filled. I need client's electronic filing authorization before setting up the payment withdrawal? Anyone else having this problem with ProSeries professional?

sffdib · ‎03-12-2021

I am filing form 7004 for a corporation and needs to pay with the extension. What is the electronic filing form? I see 8878, but when I try to select it, it doe not save or allow me to click in any o...

I am filing form 7004 for a corporation and needs to pay with the extension. What is the electronic filing form? I see 8878, but when I try to select it, it doe not save or allow me to click in any of the fields.

sffdib · ‎03-11-2021

Thanks, but this does not answer my question. The article says: State adjustments may be needed if the return includes a state that doesn't conform to federal guidelines. My question was how do w...

Thanks, but this does not answer my question. The article says: State adjustments may be needed if the return includes a state that doesn't conform to federal guidelines. My question was how do we treat the PPP loan for state that do not comply with federal, California in this case.

sffdib · ‎03-11-2021

Do you recommend filing 7004 even if no payment due? How come in some instances failure to file penalty of $195 per month is imposed on form partnership and s-corporation filers even if they file 70...

Do you recommend filing 7004 even if no payment due? How come in some instances failure to file penalty of $195 per month is imposed on form partnership and s-corporation filers even if they file 7004?

sffdib · ‎03-11-2021

Detail instructions on how to treat PPP loan forgiveness on California return? Loans have not been forgiven yet. Do we exclude 60% of payroll and 40% of utility and rent? Do we add an amount to incom...

Detail instructions on how to treat PPP loan forgiveness on California return? Loans have not been forgiven yet. Do we exclude 60% of payroll and 40% of utility and rent? Do we add an amount to income for the total?

sffdib · ‎03-10-2021

Thank you.

sffdib · ‎03-10-2021

Thank you TaxGuyBill. Great information. Based on item number 2 in your reply, it would not work in my client's case. These are commercial garage doors, and tools sheds with useful life of over 12 mo...

Thank you TaxGuyBill. Great information. Based on item number 2 in your reply, it would not work in my client's case. These are commercial garage doors, and tools sheds with useful life of over 12 months.

sffdib · ‎03-10-2021

Any special qualifying requirements other than cost of under $2,500? I do have 4 items under $2,500 and gross income is around $100k.

sffdib · ‎03-09-2021

Using ProSeries Professional, FTB 3554, CA New Employment Credit appears in every return. Do we need to complete it even if TP do not have employees? Base year has to be entered and it will affect fu...

Using ProSeries Professional, FTB 3554, CA New Employment Credit appears in every return. Do we need to complete it even if TP do not have employees? Base year has to be entered and it will affect future years.

sffdib · ‎03-09-2021

Can I use the de minims safe harbor rule for assets under $2500 for commercial garage door and is the code in ProSeries Professional?

sffdib · ‎03-08-2021

For state of California, regarding the PPP loan forgiveness. Is the amount taxable? Are expenses tax deductible? If not, how do we calculate what expenses are or are not deductible?

sffdib · ‎03-07-2021

I am using ProSeries professional. I am on the Intuit Link Client Details page. I see a new function called "Sent email". It shows my first email to the client. How can I send additional emails using...

I am using ProSeries professional. I am on the Intuit Link Client Details page. I see a new function called "Sent email". It shows my first email to the client. How can I send additional emails using the same function? I don't see the usual email setup, new email, send...

sffdib · ‎03-07-2021

Thank you Bob for the section code: Eligible individual For purposes of this section, the term “eligible individual” means any individual other than— (1) any nonresident alien individual, (2) any...

Thank you Bob for the section code: Eligible individual For purposes of this section, the term “eligible individual” means any individual other than— (1) any nonresident alien individual, (2) any individual with respect to whom a deduction under section 151 is allowable to another taxpayer for a taxable year beginning in the calendar year in which the individual’s taxable year begins, and (3) an estate or trust.

sffdib · ‎03-07-2021

Can a family who moved to the U.S. in March of 2020, became resident alien upon entry qualify for both rebate credits? All have valid social security numbers. They meet all other qualifications.

sffdib · ‎03-05-2021

Lisa - thank you so much. The most straight forward help I received from this community.

sffdib · ‎03-04-2021

I have a ProSeries professional, where is the 1040-NR?

sffdib · ‎02-03-2021

Equipment was used for 5 years. The numbers that I presented were not actual. I just wanted a simple answer. Do we have recapture depreciation? Is it cap at 25% like real estate? Where does it go...

Equipment was used for 5 years. The numbers that I presented were not actual. I just wanted a simple answer. Do we have recapture depreciation? Is it cap at 25% like real estate? Where does it go on the form? Why ProSeries is not calculating page 2 of 4797?

sffdib · ‎02-03-2021

Please let me know what I am missing in calculating capital (loss), and depreciation recapture on 4797 this is all long term. Help please. Equipment was purchased for $100,000, depreciation is $10,...

Please let me know what I am missing in calculating capital (loss), and depreciation recapture on 4797 this is all long term. Help please. Equipment was purchased for $100,000, depreciation is $10,000, sold for $1000. Capital Gain (loss) is $89,000 ($100,000 - $10,000 depreciation - $1000 sale price). Is this considered section 1245 property? Gain (loss) goes on Part I, form 4797 $89,000? Recapture goes on Part III line 25b $10,000? ProSeries Professional is not calculating the anything on page 2 form 4797.

sffdib's Posts

sffdib's Posts

FTB 3539

Re: What is the interest rate to enter on form 2220 line 30 for a 2019 tax return

Re: 7004 and 8878

7004 and 8878

Re: PPP loan forgivenss

Extensions

PPP loan forgivenss

Re: Depreciation commercial garage door

Re: Depreciation commercial garage door

Re: Depreciation commercial garage door

FTB 3554

Depreciation commercial garage door

PPP loan forgiveness

Send email from Link

Re: Recovery Rebate

Recovery Rebate

Re: 1040-NR

1040-NR

Re: Depreciation recapture for equipment

Depreciation recapture for equipment

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