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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
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- Int on Escrow & Status
Int on Escrow & Status
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dascpa
Level 11
03-09-2022
08:02 AM
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Never thought about this before - taxpayer no longer itemizing, do they have to report the interest earned on escrow if they're not deducting the interest paid and the real estate taxes? I would assume yes since they're separate issues.
52% in, 30% out. Tired and wish this was over.
Even biz extensions are taking longer with the new estimated tax payments for the PTE tax that needs to be entered.
Also, tons of people owing due to large capital gain distributions - and now the market has tanked....
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Just-Lisa-Now-
Level 15
03-09-2022
08:21 AM
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Yes, on the interest.
And I agree, lots of capital gains this year!
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
And I agree, lots of capital gains this year!
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
qbteachmt
Level 15
03-09-2022
11:43 AM
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If they are earning $10 or more, there would have been a 1099-Int issued, as well.
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