Case Summary:The taxpayer received a Schedule K-1 from a partnership. On page 1, under Line L – "Partner's Capital Account Analysis," the ending capital account... read more
Hi Professionals,I have question about reporting a 1065 K-1 to individual tax return. From my understanding, we need to use the "Partner's Basis Worksheet" from... read more
What is the cutoff for e-filing late returns? I have a new client who hasn't filed since 2019. Since we are still in the 2024 tax filing season, does that mean ... read more
I have a tax client who was a not for profit that closed during 2025. They would like to file a short year return and we tried on paper and it was rejected. How... read more
Case:I have a new client who is a Virginia resident. For tax year 2024, all of his and his wife's income—W-2 wages, interest, capital gains, and K-1 income—is f... read more
hi i m transfering a current year return from turbotax to proConnect online. but it need permission for sharing the file. how do I get the permission to share t... read more
Seeking inputs on handling tax return for nonresident alien who used to be a U.S. resident but now is canada resident and received a 1099-INT for interest from ... read more
A partner has left a partnership changing it from a 1065 to a single member LLC. Can the short year ending in 2025 be efiled? (a 2024 return was filed)
Case: I have a new client who provided me with a copy of his 2023 individual tax return. On the "General Info" page, there is a "Carryover to 2024" section that... read more
Getting rejection on CA Form 568 with S-Corp PartnerError message:Data in the return is missing or invalid. Please double check your entries.Solution:For the SM... read more
I HAVE A NONRESIDENT ALIEN WHO IS A BENEFICIARY OF AN ESTATE IN IT'S FINAL YEAR RETURN. THERE WAS NO INCOME DISTRIBUTED, BUT SINCE THIS INDIVIDUAL IS A BENEFICI... read more
