I have just noticed that charitable gifts are supposed to be included on Form 709, because of the format change for 2024 - although it has been true for a while... read more
I understand that by signing the 8879 and checking the right boxes, the taxpayer gives permission to the ERO to sign the 1040 on their behalf.BUT:How is it guar... read more
I'm working on a tax return for a client who has an NOL carryover. The Carryover Worksheet, line 14 has the amount carried over but shows an error. The error me... read more
Hello Community,Can you provide some suggestions for requesting a IRS payment/installment plan for clients? Especially if there is a way to do where we can requ... read more
I've been holding a return because of an error with net operating loss carryover bec a new Form 172 has not been finalized. Does anyone know when that will happ... read more
Taxpayer has a negative MAGI because of an NOL carryforward. His Household Income as a Percentage of Federal Poverty Line on Line 5 of Form 8962 is 0%. Even wit... read more
My client has a partnership which conducts rental real estate activity. He has a net income after expenses. He has Sec 179 expenses which would offset the net i... read more
Hi to everyone.The client’s son is 19, a student, and has two 1098-T forms from two colleges, as well as a W-2 with earnings of around $4,200. One 1098-T shows ... read more
How do I stop Forms 3522 and 3536 from showing up in the CA LLC return and causing error messages? Both these forms are not needed. Even if I "remove" them in t... read more
Client is switching from a schedule C to LLC partnership. They had depreciated items and more so real estate on that schedule C that belongs (or should) to the ... read more
1120S final return. How do I expense the remaining unamortized startup costs? I entered date of disposition as 7/30/2024 when the businesses closed, but I only ... read more
