Hi, client has one rental property and created an LLC with address of the property, but the property itself is under his personal name. LLC is in CA and will ne... read more
Hello all, I have a number of client's who did "back door" Roth contributions as their income was beyond the IRS threshold not allowing them to make such contri... read more
Hello Community.My client received a 1099-NEC from their former employer for an amount equal to her Medicare Premium B withholding from her SSA. I did not think... read more
Well well here we go again. I have just prepared my own tax return and I guess it is a good thing that WE do not have to pay estimated tax payments untill April... read more
I realize an S-Corp needs to file their tax return "by the 15th day of the third month following the close of their tax year".If an S-Corp revokes their S-elect... read more
A son wants to Transfer Commercial Real Estate to his father . The property is in a Single Member LLC. The property has an Appraised value of $ 1.3 million. It ... read more
Where do you enter "total capital gain distribution" from Form 1099-Div on Form 990PF?I put it under Part 1 (Analysis of Revenue & Expenses) line 11 "Other Inco... read more
Client provided a venmo account for direct deposit. A venmo account is not considered a checking or savings account. Proconnect want me to choose checking or sa... read more
From a Tax Court decision today – taxpayer is from Georgia. Since 1995 petitioner has been working as a freelance writer, writing movie reviews. In 2019 petitio... read more
Do we enter the 1099-G for the Parental Choice Tax Credit from OTC on screen 14.2? I entered it there but it is being treated as if it were a state income tax r... read more
Billionaire tech mogul Elon Musk posted Monday on his social media site that he had “deleted” 18F, a government agency that worked on technology projects such a... read more
I'm getting a strange error trying to file a 2023 return with interest and penalties. I have selected Electronic Funds withdrawal but it won't let me include th... read more
