In form 1065 for 2024, schedule L is not picking up the balance sheet information and all columns are left blank, unlike in my previous years returns that had a... read more
I hope someone can assist with an issue I'm having completing an 1120-s:The company has right-of-use lease assets for vehicles and despite entering the informat... read more
If taxpayer sold a rental ( 27.5 sl ), with land ( 0 ) and improvements (5 ddb,) can this be inputted as a bulk sale or should it be inputted separately?
If I missed"electronic payment of estimated tax" in the original return, can I file it separately? In amended return for example? It should be a separate filing... read more
taxpayer is on F-1 student visa all of 2024 and did stay in US for previous 2 years on said F-1 in two previous years . But filed EB-5 application and also conc... read more
How do I make the designee pin show on Utah form TC-40. The instructions say to edit the preparer in settings which I did but it still doesn't populate it to th... read more
According to IRS Publication 970 (2024), page 20:IF you...don't claim on your tax return a dependent who is an eligible student (even if entitled to claim the d... read more
When you enter a 1031 "like-exchange" in ProConnect, and use the standard (not simplified) method to continue the depreciation of the old property basis, it cre... read more
New client has rental property that was sold this year. I entered building, land, improvements separately in Input / Deductions / Depreciation. In Details, I pu... read more
Hello Community!My client is in the uniformed services originally from Oregon and plans to go back to Oregon after his assignment is over.He is currently living... read more
Taxpayer's income is IRA RMD and Social Security. RMD has Fed and State withholdings. In March, He sold rental property and realized a gain of $340,000.Factorin... read more
Client rented his personal residence for 10 days to an outside company. They gave him a 1099 indicating it was rent. I was going to list that under Schedule E, ... read more
Is anyone having issues with payments to IRS on tax return taking a long time to be withdrawn from the client's bank account? I have accepted 1040s and 1041s wi... read more
Taxpayer wants to avoid being taxed on part of the gain on sale of personal residence. He wants to not take depreciation on business part of home. My understand... read more
