We've noticed that random clients have phantom NOL and/or suspended loss carry forwards on their 2024 returns that did not exist in 2023. We have also had an is... read more
Hello,New client as of end of Sept: Had S-Corp for his law practice – sole shareholder. Sold his client base to another lawyer on 12/30/22 for $1,500,000 – 5 ye... read more
I know ypu folks haver not heard from me in a while. The last time I got envolved with a discusion someone did not like my response and called me a moron. I hav... read more
I have a new client that hasn't filed their 2024 taxes. Their previous tax preparer filed form 4868 for 2024. The client provided the Submission ID from the IRS... read more
What is the process for entering multiple properties into Schedule E worksheets where the taxpayer receives an S Corp K-1 where the S Corp owns multiple propert... read more
Have completed 4684 worksheet showing casualty loss related to passive activity. The passive activity is residential real estate reported on Schedule E. The los... read more
I have a client who passed away between filing the extension and attempting to file the tax return (10/4/25). Arizona Form 131 is giving me an error which says ... read more
Client died in 2024. 1099-B shows social security number on 1099-B. Amounts need to reported on Trust return not individual return. How do I show on individual ... read more
2024 Form 8606TP made a nondeductible IRA contribution of $ 7,000 in 2024 and converted the same $ 7,000 into a Roth IRA in 2024.F 8606 Line 1 $7000, Line 2 0, ... read more
Hi,I'm having an issue with the passive general business credit not be applied correctly to a 2024 individual return. The individual had apassive general busine... read more
Hello! I have a client who died 10/31/2023 who had a house and two investment accounts in a revocable trust. There have been several legal issues so the first r... read more
