Proconnect Product Discussions

Will the IRS kick out mismatch for 1099-NEC issued to a single member LLC (electing S Corp) using LLC EIN and owner's name/address if LLC is not named on 2nd name line?

Owner address and LLC address are same. Want to know if LLC name must be on the 1099 in name/address section also, and if so, should issuing company reissue to avoid a mismatch?

912

J

jinqian98-hotmaiLevel 1

Accidently deleted return how can I retrieve it back?

how can I retrieve deleted return?

131

G

gatekeeper651Level 1

excess distributions taken due to having funds from EIDL Loans

I am running into this more and more frequently - Scorp owners taking excess distributions with the EIDL funds so now I have negative equity.    Do I just make them pay capital gains?   What is everyone doing?

111

mbuchineLevel 3

I have a client that owns real estate proper in Tenancy-In Common.There is some additional K1 information on the report.How to I enter the data for Tenancy in common

real estate property, not sure where to enter her share of the profit and loss.Not sure where to enter the additional K1 information as no K1 provided

692

W

WI FISHYLevel 4

Proseries doesn't seem to carryforward the Covid 3 year spread on qualified distributions from 2020. How to handle?

How to enter or capture the carryforward deferral of IRA distribution from 2020 that got 3 year spread on Form 8915E in 2020?  Proseries is saying form obsolete and the 1/3 spread is not showing up in the carryforward wks.  Any suggestions. thanks.

242

R

mjerome36Level 2

What is the country of citizenship for tax purposes on 1040NR for an A2 type visa from Spain if the the taxpayer works in the US for 2021 tax year.

No text available

231

N

newtoyouLevel 1

If client has a MAGI over $125,000 from pensions and investments, and has a small business, is he still allowed an IRA deduction?

No text available

152

C

catbrennerLevel 3

Why did forms print correctly in 2020 and they are not in 2021 for Form 1040-SR? I am only getting Form 1040 for everything and no Form 1040-SR.?

No text available

101

MikeFFLevel 1

Help with uploading photos of tax docs to Intuit from iphone

Hello.  My CPA sent me a link to Intuit for uploading docs for tax filing.  I can upload docs that are already digital form on my laptop, but for paper docs, Intuit indicates to "choose Proconnect on phone" to upload photos to Intuit. ...... I have no "Proconnect" on my phone to do this?  I would have thought that if I needed this on my phone, my CPA would have given instructions when they sent me the Intuit Link.Anyway, I realize this is probably a very basic question, but any advice would be appreciated.

572

mkemptonLevel 2

Why doesn't current Section 59(e)(2) expenditure carryforward to Schedule E pg 2?

Personal returnForm 10402021IDC entry from 1065 K-1 Line 13 doesn't carryforward to Schedule E.  Entered as a positive number.  Didn't elect to amortize.  Thinking it was a basis limitation, entered a larger amount in additional amounts invested this year in the Basis tab.Thank you in advance for your support.Mark

341

E

EK5Level 2

Where do I input NY Paid Family Leave tax (box 14 on W2) so that it flows to local taxes?

No text available

662

mcord21Level 2

NJ K1 Disregarded Information Flipped

I'm currently facing an issue with the "Partner Information" flowing correctly to the NJ K1 for a partner that's a disregarded entity (single member LLC). This is causing an e-file rejection for NJ.For the federal K1, the individual's SSN and name/address are correctly populating partner information in boxes E & F. The disregarded entity information is correctly populating in H2.However, for NJ the disregarded entity information is populating the partner information while the individual's SSN and name are populating under the disregarded entity boxes. There is no option to override these inputs. It appears that ProConnect is not handling the disregarded entity information correctly when flowing to the NJ K1. This is causing an e-file reject for NJ for a partner mismatch as the partner's SSN needs to be reported under partner information rather than the single member LLC EIN.Anyone know a workaround or to raise this issue with Intuit?

121

C

Chessmaster1Level 3

E-file rejection state Ca

my clients federal tax return was accepted but CA state tax return was rejected. The reason for the. rejection the primary taxpayer SSN cannot match a previously accepted return 

151

T

timtyau-gmail-coLevel 1

How to enter stock transactions in form8949

No text available

81

idawkrizmanLevel 3

How can I prepare Married Filing Separate Returns

I have a married couple that can benefit if they file separate returns.  I have never had to do this, and all the documents are on the Husband's Client account.  Is there advice to prepare the separate returns?  Do I just copy and change the client or do I have to separate the clients?  Is this going to be two returns against my account balance or one?

421

G

gshepherdLevel 2

How do you record credit for taxes paid to another state

No text available

131

G

X

xy36Level 1

Does anyone know when the NJ partnership return will be ready?

No text available

41

A

accounting2Level 2

I forgot to put in the account and routing info for direct draft of balance. I entered it after transmitting. Does that work?

No text available

312

A

P

pwms2009Level 2

Client has a 1095-A reflecting Insurance through September. Client joined a group plan in October and has a 1095-C. How can a premium credit repayment be avoided?

the 1095-C confirms coverage for the entire year, but 1095-A only though part of the year seems to be causing a credit repayment-

111

T

S

shayalebo-gmail-Level 2

Why is the Depreciation expense not showing under Ordinary income?

No text available

201

S

K

kanchan-textax-uLevel 3

Sale of Business with goodwill and various class of asssets

Hi team, There is sale of business, with purchase price allocation which is to be reported in Form 8594. All the assets of company were sold and get allocated according to Form 8594 and will characterized as operating income (such as assets related to Inventory, Depreciation Recapture, etc.).  The remainder of the purchase price is allocated to Goodwill and is Capital Gain. There are various class of assets, how to i report the same, so has to flow through KAccountAsset ClassTax RateCashClass I -   Accounts ReceivableClass III0.5325InventoryClass IV0.5325Fixed Assets - Depreciation RecaptureClass V0.5325Fixed Assets - Capital GainClass V0.371Prepaid and Other AssetsClass V0.5325Section 179 Intangibles, Existing Contracts, WIPClass VI0.5325Residual (Goodwill)Class VII0.371   Total     Earn-outStock0.386     It is 1120s, where we made F reorganization, which caused installment sale.I understand

601

B

beth-mcmullinLevel 2

Can Other Portfolio and non business income be offset by Section 1411 Net Investment Income or Deductions?

I am entering a K-1 from an estate and think the entries should net to $0 income but it comes out as income.

111

spacecoasttaxesLevel 2

E-file federal w/out state

Does anyone know if we can e-file federal without the state tax return and later then e-file state? TIA

71

D

don 12Level 1

How do I download 2021 personal tax returns? How do I update an individual tax return?

No text available

61

K

KAWLevel 1

How can I eliminate the Diagnostic Errors for Form 8958 (Allocation of Community Property Income)? Last year client filed MFS and allocated. Spouse is now deceased.

No text available

61