Dear Members,I hope this message finds you well.I have a query regarding the availability of Form 8936 for S Corporations and Partnerships in ProSeries tax soft... read more
My client resides in California, and they, along with their spouse, own a Single-Member LLC (SMLLC). For federal tax purposes, they are treated as a Qualified J... read more
Client received Form 1099 R, Taxable amount of distribution is $197K, Dist. code is 1 Early withdrawl He is Not 55. Have checked all exceptions to early distri... read more
I want to invest in a tax research service that is informative and reasonably priced. I would welcome suggestions.Also, I have always used the 1040 Quickfinder ... read more
THE IRS SITE, CHECK MY REFUND, KEEPS SAYING THAT THE INFO DOES NOT MATCH ANY THING IN THERE DATABASE. IT SUGGESTED TO RE-EFILE THE RETURN, CAN YOU ACTUALLLY DO ... read more
I filed a client return that had tax due on Federal and Wisconsin. I checked the appropriate boxes for the withdrawal from taxpayers checking account. The feder... read more
Returned was filed and acknowledged on 2/8/2024. The taxpayer has not yet received the refund as shown on the return. On 3/18/2024 the taxpayer received Notice ... read more
Final 1065 will be 2024. In 2023, my client, a 1/3 partner died. I do prepare the 1065? How do I allocated stepped up basis for only asset, a building, that wa... read more
Notice to Other Practitioners regarding Tax CreditsOne of my taxpayers recently received an IRS 2023 CP12 Notice indicating their requested refund was reduce du... read more
Clients established two irrevocable residence grantors trusts years ago; Mom's trust was funded with one property (a summer house). Dad's Trust with a 2 family ... read more
I have had 2 clients who received letters from the IRS along with refund checks for the amount of their penalty which was system calculated. The letter states t... read more
My client is in her 80's and single. She was living in Assisted Living Care facilities for the entire year in 2023.She paid approximately $80,000.00 for the ser... read more
It looks like entering an amount of the overpayment to be applied to next year in the 'next year estimates' screen has no effect on the actual form 1041 line 30... read more