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
Hi,A friend's sibling passed away in 2022. The property the deceased own left the home to her 5 siblings. The main person in charged, my friend received instruc... read more
My client worked for a foreign company overseas during the entire year of 2024. He is not the owner of the business. He got paid by salary, and he paid the inco... read more
Client has over 20 W2-G Forms. Can I combine them into one and just enter that into the program? All forms were issued from the same payer, all forms were Slot ... read more
