I asked this earlier and have figured some of it out but still need some help.Client sold a rental home. Received $300k in cash at closing. $200k went to the 10... read more
In Box 13 of K1 (1065) Box 13 Code H Investment Interest Expense has an amount of $2,302. It is carried to Form 5942. The investment income expense deduction is... read more
I'm new please can someone help! I have a client who's tax preparer retired and they have a short term capital loss from 2023 on schedule D that looks like an a... read more
Please help! I have a client who let the Right/Warrant Expire instead of exercising but it's listed on his 1099B under undetermined term transaction for noncove... read more
TP received Sch K-1 from his partnership. I've not included one of these on a personal return before and was hoping for some guidance. Other than entering the s... read more
I need states Federal Payers TIN for 4 states: ID, MN, ND, WI. I've called these states without success. The Pro Series Basic will not clear the error message w... read more
ProSeries just attached Italy as the mailing address for every return. Every one. And then it just deleted all spouse information in the return I was working on... read more
My client divorced before2017 and no dependent child anymore (all independent).He pays $14 k alimony to his ex wife in previous years.But current year, instead ... read more
The taxpayer wants to claim the penalty from their early IRA withdrawal as a business expense because they used the full amount to start a business. I’m pretty ... read more
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
