Hi allAnyone have experience filing a form 3k-1 in MA. The form is attached to the K1 and noted as "for informational purposes only must be electronically filed... read more
If a rental property is sold without depreciation taken in the past, can it be correct as "0" for the prior year depreciation amount? Under this senario, it see... read more
Hi allMy client has only 1099 income om $200k, and wants to claim $36k for a personal assistant. Any issue entering this $36k as contract labor? No 1099 was iss... read more
Hi, client has part of the home (dettached) that airbnbs. Does not provide substantial services nor qualifies as RE professional so I think sch E is appropriate... read more
I have done some research and are still not getting a clear answer. I'd love some help with this question... I have a client who passed in January, 2024 who had... read more
Facts: Son, mother and father are all owners in a home. The son lives in the home, but the parents do not. The son wants to sell the home.Question: If the paren... read more
I have a small grocery store client that has suffered losses for three years. Fiscal YE = 9/30/24. I don't think any tax analysis is needed as they won't need t... read more
My client's mother died in Feb. 2023 and sold her mother's property in Sept 2023. Two 1099-S were report. 50% under the mother's social security and 50% under t... read more
It is heard very often about a concept called "deprecation recapture".On K-1 form, there also has a line called "unrecaptured section 1250 gain".What is the dif... read more
How long should I keep electronic client records? Also, within ProSeries, a number of prior 1099 & W-2 prepared form(s) from prior years remain on the record ev... read more
Is the accrued market discount recognized for tax purposes on schedule B after showing an adjustment to the gain on the form 8949 tax exempt from Iowa as intere... read more
Did anyone else fail to receive a certificate for attending the live training webinar on Cybersecurity on Aug 22, 2024? I got a follow up email the next day fro... read more
I am trying to populate 2023 form 3800 part III line 4a columns h and i.I have made an elective payment election.on screen 28.2 I have entered a 1 for gross ele... read more
