ProSeries Tax

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.

Is there an election to carry forward NOL arising from a hurricane damage or is it mandatory to carry it two years back first. 

MD Form 500 still shows an error 'filing unsupported federal Form 1120-H' when 1120-H is selected.  This should be updated and removed now that the IRS began allowing 1120-H e-filing starting with 2024.  This error is unnecessarily preventing e-filing of MD Form 500 for any 1120-H clients.Also, any MD 1120-H clients cannot e-file the Federal 1120-H because of a Federal error requiring Form 1120 to be moved.  For MD clients, Form 1120 can't be removed without eliminating key info on the MD Form 500.  The MD Form 500 should be linked to the 1120-H (when 1120-H is selected) and not linked to Form 1120.  For these reasons, any clients located in MD can't e-file either Federal Form 1120-H or MD Form 500. 

Amending 2023 for 1099-R code P which seems so simple.  The taxable amount (earnings) is reducing the IRA deduction and creating additional tax on F5329.  Should this be happening?  It seems a vicious cycle.  Does the client remove the excess then we go through this process again ?Am I missing a check box to prevent this ?  And for those that want to chime in - I should've included the earnings on the 2023 return since the funds were withdrawn before the due date...... yes in a perfect world.    I don't live in a perfect world.

I have a client that has income on a w-2 that is non-taxable under Medicaid waiver payments.  As per the IRS it has to be reported on on Schedule 1, Line 8 s as a negative number.  However,  Roseries says the number is not accepted and it is not letting me file electronically.  I also reported it as excludable income on the W-2 worksheet for that employer. Has anyone experienced that and is there a solution.

New client brought me their paperwork and it seems they have been self preparing and filing an estate return for about 10 years. There were no assets and no probate from the very beginning. They have left in the estate ID an annuity payment of around $10000 per year. How to correct this? Do I go ahead and file their 1040? He already filed the estate return for 2024. This has been a most unusual year!

Should this say line 12? Everytime I enter the full amount of Line 13 I get an error that says I can't select a number larger than line 12. So I would assume the limit is Line 12. 

Can someone with experience provide information on what the process is to amend a MFJ to MFS.   2021 return was filed as MFJ.  There is a benefit if it were filed as MFS.  IS a 1040x involved?  How do you then file the separate returns?  I am using ProSeries Pro.  Appreciate any information you can provide. While researching the topic, I thought I read a return filed as MFJ CANNOT be changed to MFS after the due date.  Is that correct?  

I have a 1099- DIV with Line 9 filled out.   TurboTax says go to Investment Income under Wages & Income I cannot find anything about where to enter that information.  It comes from a Coop that sold out to a private business instead of going out of business.  I did not pay anything for stock in the coop other than doing business with them.  There is no Basis for the stock to calculate income.  What do I do?

Hi to all , Client sent me this picture and said my stock on Puxin LTD , NEWYY , DELISTED.Can I put basis and sell as zero on Sch D?

Good morning.   Fact pattern:Wife is a full year resident in PA and has earned income of her own in PA in 2024 Husband lived with wife together in PA for first two 2 months of 2024 and had some minimal income in PA during those two months. Husband then takes job in MD and has income in MD and moves to MD as is a resident there for 10 months of year.   Husbadn expects to remain living and working in MD for forseeable future.  MD has a rule I believe that if you sleeep so many nights year in MD, you are deemed a resident. Wife is a full year resident of PA;Husband is is part year resident of PA and a part year resident of MD.I've done MFJ split where each spouse is a full year resident of different states, and they file jointly at federal level, but then file separate state returns.    I have my ideas about how to handle the above, but curious as to other's thoughts here. Maybe I just treat husband as a full year resident of PA with

Hello i have a client that is trying to file and get back what they can  with zero income  but its not showing any of the child tax credit as refundable is this correct vs what i have read on google thanks

Can someone please tell me how you can get the software to show the amount of income (any line) in column B of the Colorado K-1 (DR 106K) without doing an override?  This would be for Colorado Partners or Shareholders.Thank you

How can I enter taxpayer and spouse income noting T & S? W-2 has the option. Don't see any option for interest/Div.Please help! Thank you all.

Hi online community, How about creating a button in the dependent section to check to create  a dependent tax return? I mean the biographical and address information.  Just asking. 

New client doing Adult Foster Care. I need advice on whether or not to use the standard or simplified method for business use of home. Prior preparer did the old method and wiped out all income, which would happen again if I use the same method. If I use the simplified method they will qualify for both child tax credits and EIC. 

On a joint return where both taxpayers have LTC contracts in  force does anyone have 2 forms 8853 to file? I get an error message that with 2 forms 8853 electronic filing is not allowed.

No text available

I received $27,090 from insurance company for damage to my barn, but it cost me $36,395 to repair it. How do I report this on my Schedule F and can I depreciate the difference?

No text available

You know Proseries is on the decline these days. I have a non-resident taxpayer that came income and federal tax withholding on form 1042S and I was told by Proseries that 1042S isn't supported by Proseries. How have you guys dealt with such issues? 

Taxpayer died in July with a Traditional IRA with basis.  However, the IRA was at three institutions.  At two of them, the beneficiaries were her children.  At the third, she did not name a beneficiary and it will end up in her estate.I have spent a few hours researching this and I cannot find the answer.  I know the basis follows the IRA.  And if it was just split between three kids, I would allocate a third to each.    But that is not the case here.  When the beneficiaries are different at the various institutions holding the collective Traditional IRA, how do you allocate the basis? I was thinking of trying to somehow determine the value held by each institution at the date of death, and then allocating the basis by the percentage each institution held to the overall value at date of death.  Once I have that, I can then determine how much goes to each beneficiary, including the estate.Does that seem reasonable?  Or is there some

Hi,A new client, came to usa with her kids in 03/01/2024. They got family visa however husband die in india on 12/03/23 before he came to US. Can she file as QSS with her kids?GK

A taxpayer had 2 rental properties. Sold one of them in 2023. In 2024 he had to pay local occupational tax on the gain on the sold property. Can he deduct this tax on his other rental property he still owns? He does not have enough deductions to itemize so if he can't he loses this deduction.