ProConnect Tax

How do I enter the 2020 Ohio pass-through entity credit without using the Override option?

If I enter the credit as an override I am required to file a paper return.  If I can somehow not override, I think I can attach as a pdf to the electronic filing.  Any help would be greatly appreciated!!

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GiaLevel 1

Pass-Through Partnership K-1 on and S corp Return

I entered a pass through K-1 from a partnership that my S corp invests in. It shows up as "other income" on the income statement of my S corp return but it throws off the balance sheet/Retained Earning. Does anyone know how to fix this? Do I need to enter it as a investment in Sub in the assets section? Thanks in advance for your help!

272

K

kelly6Level 3

Form 5471 - Schedule C Income Statement and Balance Sheet not populating

Hello, I am trying to complete a 1040 that includes Form 5471. I have taken the company's UK P&L and Balance Sheet - and converted them using the year end rate in excel, and input the USD amounts on the Schedule C & F tab.Under Translation - I have put 2 for Year End Rate. I have also tried leaving blank, since I entered it in USD already. No matter what I do, these schedules won't populate. How do I fix this? 

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nakita-johnson00Level 2

When I am entering itemized deductions(SchA) into the system, why is it not generating a Sch A form?

No text available

153

Jo_FLevel 2

Sale of interest in an S-Corp or Partnership

In ProConnect, how do I enter the sale of interest/stock in an activity (S-Corps and Partnership).so that the gain from the sale populates on line 2a of Form 6198 At-Risk Limitations. I entered it on the  Quick Entry: Dispositions page, and it flows to Form 8949:Sales and Dispositions of Capital Assets, but it is not flowing to the At-Risk Limitations page to capture the remaining suspended loss.

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ddoggyLevel 3

When amending a 1040 should you include the tax payments made after the original return was filed?

I do not see a line for payments made after the return was filed on the 1040. It shows in the 1040X with the correct refund amount. However, should the 1040X refund match the amended 1040 and if so where should I enter the tax payment made after the original return was filed.Thank you!

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A

AventyrLevel 1

MFS comparison

with MFS filing may only one person take property deductions if property is owned jointly in a community property state?

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moulinconsultingLevel 1

Negative Modified AGI

I am preparing a tax return for a client that had to close during COVID because they were a venue. They are a MFJ couple that had W2 earnings of $40K , unemployment which nets to zero on schedule 1 due to American Rescue Act, joint Schedule C income of $20K etc but after their large S Corp losses ($-66K)(limited to basis) their Modified AGI is negative ($-6K) so when my software is calculating their premium tax credit they are getting a full premium tax credit refund for all the insurance they paid and because the Modified AGI is negative I'm having to mail in their return. Is there any risk in this? Is it possible they may lose their insurance or have to pay anything back or be at audit risk?

262

The Real HalloweenLevel 6

2020 Schedule E page 2 part 2 line 28 column (e).

How to tell PTO to check the box in column (e) on line 28? Thanks for your time and comment.

284

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info-clwcpaLevel 2

How do I generate Form 8865 for an individual return?

No text available

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remcpabsgLevel 2

1065 K-1 Import

H & W are both members of multiple LLCs.  When importing K-1 from a 1065, do I need to create a separate new import for each ("Add New Partnership K-1")?  Appears if I select an existing K-1 (previously imported) the software simply overwrites the last import.  Thanks.

242

C

cpgLevel 3

Depreciation split between multiple activities

With a home office deduction and Schedule E room rental income in one home, how is the property's depreciation split between these activities in ProConnect? 

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C

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vpierceallLevel 1

The 1040-SR is automatically populating but I want to file the regular 1040 instead. How do I force this?

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101

R

rogers-amt-foundLevel 2

I am trying to locate the input screens for PartXV, Lines 1 and 2 on a 990-PF. How do I add a manager's name on Line 1, and check the preselected charity box on Line 2?

Assets are over $5,000 and this section is required.

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M

mepayne59Level 1

I want to print a Minnesota Non Resident return without printing the "Do Not File" watermark. Minn income is below amount required to file, but we have withholdings .

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ZenLevel 1

Where to enter? "To reconcile fed and state diff from pass thru entities, turn on the state k-1 recon w/s. But doesn't say WHERE edit not avail for this diagnostic.

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tonymcpaLevel 1

Can you change the type of tax return being prepared? For example, filed an extension as a 1065 earlier in the year and now find out they should be filing an 1120?

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jon wolkLevel 2

I want to apply all of the US refund to next year how can I do that?

How can I make my overpaid amount apply to next year's estimated tax?

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jgauger-biblesocLevel 1

Can you use ProConnect to complete a form 990 if you are an overseas company? When looking at the sample business I don't appear to be able to enter a UK address?

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BParkLevel 1

Bookmarks Do Not Show in PDF's Created by Proconnect tax online

Bookmarks are not showing in the pdf created by Proconnect tax online. Is there an option to create them ?

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A

ndsmith75Level 1

How do I solve this diagnostic? What screens do I go to? M1W: Minnesota requires a 7-digit MN State ID number (Col A) and a MN income amount (Col B) The

Where do put column B. Where is the screen for the State ID number?

81

jeffpayas-aim-coLevel 1

How can I get the PDFs to work for my tax returns. I am a tax accounting student and I need it for an assignment.

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162

ncal2020Level 2

Lacerte 2020 won't launch after update

I performed an update today since I was trying to efile a 2020 tax return. After the update, it trys to launch and at the very end I get a lot of error messages regarding EF return counts, TBrush exception etc. and then closes up. I have tried rebooting and reinstall the software from the Web. It still won't work. John Hamann

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freydasanderscpaLevel 1

I dont see where to enter the amounts for 20AG from a 1065 partnership K-1. Also, if cash receipts are less than 25,000,000 do I have to enter it?

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patricia2Level 1

Please call I don't know what is wrong with this program

the employer 108 is not populating

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