ProSeries Tax

Client married in Nov 2024 but wants to file MFS.  Clients live in Texas.  They do have a prenuptial agreement which keeps separate property, ie, other spouse has no rights to separate property.How do i report each spouse's income.  Does each one have to report 1/2 of each other's income on the MFS return even though they got married late in the year and had no access to each other's earned income.How about income from separate property?  same question.thank you so much. 

Can someone please help. I migrated Fixed Asset to a new server and shared the folder. I was able to access fixed asset manager from the server but when I tried accessing the fixed asset manager from a workstation, it keeps giving me this pop-up = "Cannot access system information. The system is currently locked by another user." 

Taxpayers lived in Illinois the entire year of 2024. Filing status MFS.  Spouse W2 State of employment is MS although both lived in IL the entire year.  If I complete an IL CR form taxpayer will owe $980. She did not have any IL income. Is IL 1040 an IL CR forms still required for filing. I think I am missing something,    

Does anybody know if there was massive escape from a lunatic asylum today?  Based on the phone calls and e-mails we have received today, that's the only logical explanation I can come up with because it has just been a bizarro day today.  I'm not a drinker, but before the day ends, I might me looking at cleaning out the Fireball stock at the closest liquor tonight.  

Two things:1) ProSeries is limiting depreciation to basis. But depreciation is greater than basis. Disposition of Vehicleslines 54 thru 59 isn't working correctly. Lines 56 and 57 Depreciation of any amount gives errors saying "Depreciation too large".2) Shouldn't all the depreciation be recaptured even if greater than basis?

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 the General Rule necessary when entering information from RRB-1099-R.   Can the General Rule be used, if you did not use it the first year?

Filing status is MFJClient is 36 years old.Opened the Roth IRA in December 2020 and his contributions from that time to December 31, 2023, were $4,405.During 2024, he contributed $720 but withdrew $4,500.  The withdrawals were for paying down consumer debt therefore none of the exceptions were met. He received a 1099-R with Box 1 - $4,500 and Box 2 - $4,500.  Distribution code is J.  Federal tax withheld was $450.I answered "No" to "Opened a Roth IRA before 2020".  I inputted his cumulative regular Roth IRA contributions as $4,405 (basis).  According to my Gregorian calendar calculations, he had the Roth IRA open for 37 months (prior to January 1, 2024) and 44 months before the withdrawal.  These are well short of the required 60 months.All Gregorian and Julian calendar aficionados are welcome to reply as well as those tax experts that are a lot smarter than me.Enjoy the day/evening!

IS THERE A DISTRIBUTION CODE FOR RRB-1099 R in ProSeries?

I am not a frequent user of HSA and the related issues and read IRS Pub 969 reg HSA but could not find clear answers of the following points:Does contribution to HSA require “Earned Income”?Is there any income level after which HSA contribution is disallowed?Is there any income level after which HSA contribution is allowed but “not deductible”?An active employee of a major corporation normally has full medical and dental insurance coverage from the employer after paying a nominal share of medical and dental insurance premium.  Such an employee does not need to have a separate HDHP “COVERAGE” and covered by no other coverage EXCEPT “Other Health Coverage”.  Can such an employee still contribute to HAS and claim a tax deduction?I know of many major companies referred to above contribute to HSA of its employee/s and show the amount in W-2 Box 12 with W code.  If the employer can contribute to such an employee, why not the employee can make addl contr to max out?Is there any

Per usual another update that has ruined a perfectly working function. My prior search function from home base worked perfectly. I'd hit "control F," type in smith, and only Smith's would pop up. Starting today my search function doesn't just show smiths. It will highlight Smith returns, but every other return still shows. Please switch it back and stop meddling with things that don't need fixing. Fix the things that need fixing instead! 

I have a client that is a resident of Mississippi and worked for a New Jersey based company that withheld New Jersey tax.  She did not ever go to New Jersey so I am filing a Non-Resident return but it is showing she owes taxes on the income.  I have put the Income from New Jersey on the Federal non-resident allocation worksheet and it is flowing to the allocation worksheet for New Jersey.  Now it is showing Gross Income as the amount of the W-2 wages from New Jersey W-2.  How do I show that this income is not taxable to New Jersey?  I must be missing something.  I tried to complete the information on the NJ-1040NR P3 showing but I believe that is for only if there is income earned partly inside and outside New Jersey.  Please help.

When will Proseries allow the e-filing of Form 1120-POL? This capability is way past due from Proseries.

new client with a business NOL where do i put it in proseries 

Can you submit the installment agreement request with the electronically filed return for both federal and California return?

Good evening, everyone.I have a client who had a traditional IRA distribution via 1099-R, and of the total box one and box two distribution, $7k was for a charitable contribution for TY2024. Unfortunately, due to USPS issues, the check never arrived at the organization and was not cashed, but was also not discovered by the client until this year (2025). The financial house will not correct the 1099-R to indicate the funds were not distributed in 2024 (2 hours on the phone). They also will not reissue the contribution stating it was for TY 2024 since it is now 2025. They have said the contribution can only be reported for the year the check is sent.So, how do I correctly report the 1099-R as less taxable by the unreceived $7k, since the funds weren't distributed to either the client or the charity? I feel like if I just adjust the amount in box 2, it is going to trigger a letter or audit by the IRS due to not matching up with the reported document. Thanks, y'all. I've never ex

I have followed the instructions exactly when trying to e-mail my client's tax return to them.  It shows that it has been e-mailed but nothing comes through an e-mail.  I know this is the way it is because I tried to e-mail my own return to me and I get nothing, not even in my junk. In case it matters, I have a 64 bit operating system.  

New format this year from P.S..If I enter DE and add in entity name, then in DE section enter the member's name and SSN it comes out in an EIN format xx-xxxxxxx.If I enter individual's name instead, it asks for Entity Name. Any way I enter it keeps showing the dreaded pink/red error bar.What is correct method - and yes - I could just put in I for individual and leave off DE entirely but member wants it in their EIN, not SSN. 

How to report grant received for medical school student? The income was reported on 1099G in the taxable grant box #6. It is my understanding that this program falls under an exception and is excludable from income even though there is a future service obligation. The program is intended to increase availability of health care in rural areas. I have included the amount in the 1099G section, but I cannot determine where to remove it from income. 

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I have a taxpayer claiming daughter 26, full time student with less than 5000 income, and claiming parent.  Both should be other dependents.  After I complete the form 8867 and checklists, I get an error message saying CTC/AOTC box should not be checked unless claiming CTC or AOTC.   The box in question is labeled CTC/AOTC/ODC and I am claiming ODC.  How can I claim ODC?

Client received a 1099-R, code K7. IRA box checked, showing gross and taxable amount of 44,703.  He never received any money as Global Capital LLC was determined worthless.  Providence Trust Co was holding the worthless asset, decided to get it off their books and transferred to the client as a promissory note.  On the 1099-R worksheet I do not see a way to record a worthless asset and get it removed from taxable income.  Any suggestions would be greatly appreciated.

I just received a 1099-S from a client and I am not sure how to enter in Proseries Professional.Can someone please provide me steps on how to enter the 1099-S and if i need additional information from my client

Not a question, just a public service announcement. Just found out that the Arizona Property Tax Credit 140PTC has been printing all year without Social Security numbers on it. Since that form has to be mailed in, it's likely that any clients who had a 140PTC will not get their refunds. I called AZDOR and the nice lady I talked to said that without a social security number, it will be treated as if it was never filed. And since the property tax credit is not available if the retrun is filed late (if no extension), it needs to be corrected and mailed again by April 15 or these people will not get the credit this year.So we are having to reprint and call all of our clients who have a 140PTC and have them come in again to mail the form. Proseries has been informed of the problem but who knows when it will get fixed or if they will send out any alerts.

Have client that lives in OK but sold home in GA.  I need to exclude the sale from OK income but allow the income for GA as client doesn't qualify for the federal exclusion exemption.  ProSeries says to check the box with the "*" to exclude the gain or loss and when I do, the income still indicates the sale of the home to be included.  I can manually exclude the income on Form 511 with the Out-of-State Income Smart Worksheet however the system should be calculating this.  Any help would be greatly appreciated.