Taxpayer (parent, MFJ) received a 1099-Q for a distribution, of which the funds were used for education purposes.It was for their college student.What is the pr... read more
When filling out the client's information worksheet, a portion of the form is blank. The form only populates up to Part X down to the foreign tax credit. It wil... read more
I have a client that began working for NYPD in April of 2024. Long Island resident, and I know he will have to file NYC-1127 for wages he earned. My question is... read more
I'm getting a message when I log into Pro Series that says "This action can't be completed because the underlying service is taking longer to respond. Please re... read more
I want to pay the late file penalty when I efile the 1120S return, but I do not know where to put the payment on the return.I also went to IRS.Gov to try and ma... read more
I have a taxpayer who won money from gambling and received a 1042-S in lieu of W-2G, using foreign passport as identity.How do I enter Form 1042-S onto his 1040... read more
Has anyone else noticed anything weird on Form 1041, Page 2, Schedule B, Line 3? The entry is supposed to be the capital gains allocated to the beneficiary on S... read more
I am preparing an initial 1041 for a Family Trust.The income is reported on Form 1099-R, along with Federal income tax withheld (box 4).Question:1) can the Fede... read more
I am seeing payments being applied on the 1040 for excess social security and medicare.I can't understand if these amounts are automatically flowing and how to ... read more
Hi,When there is more than one Form 1116, the Part III Line 24 numbers from the other Form 1116s should carry over to Part IV – Summary of Credits from Separate... read more
A client just told me that a friend of theirs that is also a volunteer fire fighter told them to ask me about a tax credit for being a fire fighter? I know I ca... read more
Taxpayer (MFJ) is the spouse and works in WI, but lives in IL.The W-2 has WI as the state code and has withholding to WI.Other than checking the NR box at the b... read more
My client exchanged rental properties through a 1031 exchange.Property Sold:FMV 510k, $185k mortgage paid off at closing, Cash received at closing $300k. Origin... read more
