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ProSeries TaxExperience: 30 years
Details
1
State proficiencies
IL
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Haha - right, I already read the instructions.I saw line 5a on the the form that mentioned cash distribution - but looks like that just relates to "boot" in con...
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That's exactly what I do as well - just copy the prior year file over.
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IRS has released (in draft form) the new IRS Form 7217. Looks like this form is required to be filed by individuals on their 1040 and it's purpose is essentiall...
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I've asked the client whether a 1099 will be issued. Haven't heard back yet. To answer your question, I would (in that case) report it as income on page 1 and t...
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I have an elderly client who died in 2024. A lawsuit was filed by her estate claiming that the assisted living staff abused her. The estate won a $300K judgemen...
