Two individuals contributed money into an LLC and then put all of that money into another LLC that is building apartment buildings. In the first LLC, there's no... read more
I am entering a 1031 exchange for individual, the FMV of new asset is less than the asset sold.I have entered the disposition on the asset (depreciation) screen... read more
I have a client who moved in the middle of the year and is considered a part year resident of two states. As such, I am filing 2 state income tax returns. The s... read more
Due to voiding some checks from a previous year there is an adjustment to the fund balance.where on the tax forms to I record this. I am getting error messages ... read more
Confused how to best take advantage of the NOL carry forward to offset other ordinary income for the client. Would the S-corp have to stay an active entity unti... read more
Initial 1041 return and has one beneficiary. The beneficiary has executor fees that need to be recorded and I did that on page 1 under fidicuary fees is that th... read more
"Send K-1 Packages" has been a great feature, but I just had the second tax return go into Error status after sending (or attempting to send) the K-1s to the in... read more
Error Message:The e-File database indicates that Form 8962 or a binary attachment with description containing "ACA Explanation" must be present in the return.
Reaching out to gather some insights on the current market rates for federal and state tax return filings. As we gear up for the upcoming tax season, I’m intere... read more
A 1099-R was issued for a distribution taken after my client died in 2017. The distribution code from the IRA was "4-Death"The gross distribution, taxable distr... read more
Please only reply to this post if you know how to resolve this issue.Issue: The client originally filed as Single for their 2022 1040. However, the client later... read more
