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 comp... read more
I have 1 LLC-single member with business activity and 2 LLC-single member with rental activity each with different entity names, EIN and SOS numbers.On the Fede... read more
Where do I enter the cost of a major renovation project done to prepare a rental property for sale. Do I add it to selling expenses when entering the sale of th... read more
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 Securit... read more
So I was working on a 1040 a couple weeks back and checked with the client on whether or not he wants to make a SEP contribution. In the past he has earned $100... read more
Police officers and firefighters often make purchases that are not reimbursed by their employers; however these items are necessary for the job. They also use t... read more
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... read more
So...silly me! Return filed. Rejected..see above Husband,wife, 3 children. The # in the [ ] is the "2nd dependent from the top" So, where in the wide wide world... read more
I have two virtually identical 1041 tax returns. Both are "complex trusts" Both are small trust, with very little dividend income, but the income was not distri... read more
Have a K1 that has rental RE income on line 2 $31000...on line 13 code K (excess interest deduction) is $6000 and in the little box on the bottom left is partne... read more
