I filed a 2023 fiscal year corporation return for the year ended September 30, 2024 with proseries on December 26, 2024. This return is due on January 15, 2025.... read more
E-filed late an initial-year husband-wife LLC Form 1065 with no revenue and just a $3k lawyer fee expense.Did NOT elect out of centralized audit regime IRC 6221... read more
With tax season around the corner, who can wish anybody here a happy new year when you don't know what is going to take a bite out of you early in tax season? S... read more
I have a client, husband and wife. A cpa friend of theirs a long time ago set them up and LLC and filed them as an S-Corp. They now want to simplify things and ... read more
A client is selling her entire interest in an S Corp. The S Corp is the BUYER.Facts:My client is a passive investorShe owns 38% of the S, her brother owns 37% o... read more
Every year I purchase both products and wondering if there is a max amount of 1040's that I can prepare on the Pro Series before I am chargedOn the Basic softwa... read more
Can I deduct Gambling losses (to the extent of winning) on California tax return? If I can then where do I show the losses on 540 Form? My client won $8000.00 s... read more
Before I set on, just a note of thanks for all the help community members have given to those who always have questions.How should a client's stock losses due t... read more
CLIENT BACKGROUND: 2023 Married Filing Joint; 2024 husband died 4/24, house sold 12/18/24, wife died 12/20/24.When completing the form home sales worksheet, que... read more
2023 says I don't have a license and my name and address are grayed out and blank in firm/preparer category. Everything worked fine in 2023 and I was trying to ... read more
How do i review a W2 form for 2023 that i created through my ProSeries Basic? I get a message that states that I have to renew my 2024 first. Is that correct?
I am trying to set up a new depreciable farm asset in ProSeries. I am using the exact same method to fill out the Asset Entry Worksheet as I have used in the pa... read more
