I sold my house that I used 10% for income tax business for 19 years. Depreciation taken through the years was $11,564.Can someone give me step by step instruct... read more
I have a client with a rental property being reported on 1065 because 2 brothers own the property. The property generated losses, however the tax payer does not... read more
Does anyone know if the Tax Planner software in ProSeries is (will be) updated for 2024's tax brackets? Looks like the program is still using 2023 tax rates for... read more
I submitted a few 9565 forms electronic with the tax return and the taxpayers are getting a balance due letter and later the 9565 form response but its taking a... read more
If I purchase a mower for 3 rental properties, do I break that cost up for depreciation to put 1/3 of the mower on each property, or do I put 100% of the mower ... read more
Oregon passed legislation to exempt income from wildfire settlements and said to use code 312 on their adjustment page. However, it will not allow me to efile t... read more
Family of 5 siblings are beneficiaries of a beach house in a revocable trust whose grantor has passed away. Siblings are considering either leaving the asset in... read more
Taxpayer is amending form 1040 based on a revised K-1 from a 1065 for additional real estate depreciation as a result of a cost segregation study.The 1040 is no... read more
I have a rental property that I put in a 2 member LLC in 2023, which tax form in my 1040 that I should use to show that i no longer have the rental property?
The message "The action cannot be completed because the underlying service is taking longer to respond.Therefore, I always have to wait 5 minutes to go into the... read more
I e-filed for my client but the IRS rejected the return for a missing IP PIN (which my client didn't know about). The client obtained the IP PIN, I entered it, ... read more