I have a client who sold his Scorp assets for $800,000. The sales agreement indicates that $191,000 was allocated to FF&E and $5,000 to inventory. The remainder... read more
Has there been any improvements to Proseries to allow an additional return to be filed in the same year for same tax ID? With all the problems of the IRS proces... read more
Can a self-employed Schedule C business contribute to both a SEP and a 401K for the same year? This is his only business, has no employees. She wants to make a ... read more
I know this should end up on Schedule E. I do not believe that ProSeries basic supports the automatic deduction in the year of disposal, so I entered it manuall... read more
When entering the disposal of a PTP the software directs me to not enter the sale price and basis if the sale was reported on a 1099, which it was. The problem ... read more
I am trying to e-file form 1120-H, I checked the box on the info wks under federal filings 1120/1120-H to efile the form. After I checked the box, it populated ... read more
Hello,A young adult is filing taxes for 2024 a bit late. However, they have an issue when it comes to the kiddie tax.The young adult is in college (20 years old... read more
I'm trying to enter a donation of conservation easement in ProSeries. I'm entering on Noncash Contributions Smart Worksheet. I chose Property Type "n" for "Real... read more
The sale of home is being reported on the 1041 Estate tax return. After applying the step up basis there is a 344K gain which will show on the surviving spouse’... read more
The program has not been user friendly for the past few years.If a W-2 has multiple work location on line 1a (I have had to enter as many as 40 locations)On lin... read more
Hi all, and thank you for your help.My question is regarding the Section 469 Activity Grouping Disclosure under Treas. Reg. §1.469-4.I would like to know: When ... read more
