ProSeries Tax

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There is a place, I dont know where, that has what is suppose to be the tomb of Mohammad. the sign reads this is the tomb of Mohammad, His body lies here.There is another location< I believe is in the orient that has the tomb of Budda. THe sign reads this is the tomb of Budda his body lies here.In Isarel they have what is believed to be the tomb of Jesus Christ.It has a sign that reads this is the tomb of Christ.HE IS RISEN, HE IS NOT HERE.

I did a correction to a return but I am not sure if it was before I submit it

What country is for RIC?

T/P is a Sole Prop (Sch C) who sells childrens clothing. She has amassed a large amount of unused raw material (over $25,000) which she has donated to a charitable organization.. Can she take a deduction, and would it be on Sch C or Sch A?

I am preparing a tax return for a taxpayer whose spouse died in 2022.  The deceased spouse has a 3 year spread on a disaster IRA distribution, 2021-2023.  How is the third part handled that would normally be filed on the 2023 tax return? 

11 Days to go.Lets get together and celebrate.

The taxpayer passed in 2022, she only had 15k of social security income.  Does a final tax return need to be filed?  And if so, can it be filed electronically since it doesn't have any income? A follow up question has to deal with her estate, she had a very limited estate but her brother opened up probate because there was a potential for a lawsuit on her death.  He is not going pursing any legal action and wishes to close out the estate.  Does a 1041 have to be filed for 2022 with zeros down the form, since probate was opened?

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Hi there,Hope everything is doing well.I'm having trouble of entering Form 1099 Consolidated when preparing Form 1065. I was unable to find the right place to enter Section 199A Dividend, Total Capital Gain Distribution and Advisory fees.Can someone point out please?Thank you.Helen

how to print K-1 with SS# masked in Pro-series

Taxpayer and spouse each contributed $6k to a traditional IRA and immediately converted to Roth for the same amount.MFJNo other IRA balances.I understand you must enter the contribution on the IRA contribution worksheet, and then enter the corresponding 1099-R as well.However, where in the software do you "link" it all together so that there is no deduction, no taxable income from the 1099-R, and that the backdoor conversion is fully recognized?

Good morning, Hmmmmm, client sold a home he picked up for a song originally intending it to be a rental. Made a tidy 80k when he sold it instead. He is convinced that he read 'somewhere' that if he put the profits into his primary residence to improve it, that it would be a write-off. Am I missing something here, because I would have thought the improvements would have had to have been made to the house he sold rather than the house he kept? Thank you, Community! **How many more days??????????**

Good morning, Curious if anyone has experience with larger payment options with the IRS? I have clients who will need to remit 32k but are asking me if they can make three payments instead of setting up a monthly arrangement? (April, July, Oct). Thanks everyone!! 😎  

I have a new sole-proprietor business client that owns a construction company and pays every workday for all of his full-time employee's lunch. This is more that $4000 for the whole year. Nothing fancy just regular to-go meals from a restaurant that he pays of his company to reward his loyal employees. I am under the impression that meals are deductible if the main purpose of the meals was the conduct of business but what about employees' meals while on lunch break?

My client is a sole proprietor and reports her business ( property management co) on a schedule c.For tax year 2022 she received a 1099k from Buildium, LLC a Payment settlement entity. The 1099k is issued to her ein, however, it  is total income that she collected which was then transferred to each property owners account.My Client is the 3rd party.My client issues 1099misc to all property owners which, of course, is the same total that is listed on the 1099k that was issued to her ein.My question is where do I report 1099 misc income given to property owners.On the Sch C there is a space for contract labor but it can't go there.Is it best to reconcile on 1099k worksheet?Like, how is the best way to reconcile the income reported to my clients ein? It is over $14 million dollars and I want to make sure that it is reported the best way as to not flag her for have that as gross income?These 1099k's ugh!Any guidance would be much appreciated.Thank you!   

I was able to change FTB to accept later date for payment but cannot find anywhere on 1040 info to make change.  Been on phone with Intuit for over an hour and still have not gotten a resolution to this.Thanks in advance

Under Reconciliations, Fees, Expenses and Expenditures, there is a line for "Deferred Income Tax Payment."That should be reported as income, I presume but can't seem to find a spot for it in ProSeries.Thanks! 

So I worked on an individual return yesterday and printed it out.  I realized that the client had a second page to a W-2 with Wisconsin withholding.  So a little while I add Wisconsin and life is good.  The package also includes the Minnesota M1PR which is treated as a separate state by Intuit.  So I print out the return and the M1PR and the Wisconsin return aren't being included with the print package.  Ok, maybe the printer had a hiccup.  Just to see if things are working right, I print the whole return package again and once again all that pops out of the printer is the federal and Minnesota.  Exit ProSeries and sign in again.  Hit print again and all 4 returns printout, although the M1PR is out of the normal print order.  Bizarre.  Just bizarre.

TP is full time student and not a dependent of her parents or anyone. Her earned income is about $4500. TP received a 1098-T with $5036.99 in box 1 and $24,330.00 in box 5. She states that any excess, or refunds she receives, is used towards the next semesters tuition or qualified expenses. The students account detail shows only one semester (fall) being billed to the students account, because the university included spring semester of 2022 on the 2021 1098-T. As a result, the student has taxable income on the excess between box 1 and 5. As a result of the excess, she's not allowed any of the education credits. Is there a work around for this or is the poor child on the hook to pay taxes of over $1K on the excess. Any suggestions or direction would be greatly appreciated. Thank you.

Is anyone else getting this error message when attempting to e file an s corporation for which you extended and have confirmation of acceptance through pro series? "RETURN IS SELECTED. PLEASE COMPLETE THE EXTENSION FOR THE RETURN FIRST. IF THE EXTENSION HAS BEEN COMPLETED, OPEN THE RETURN NAVIGATE TO STATE/CITY AND SAVE THE RETURN"I have followed said instructions with no success, again the extension has been completed and accepted and it's only happening with S corps not Partnership returns. Not just one client either, right now all of my s corps  

can you pay PA or NJ estimated taxes via debiting the bank account

ProSeries is not automatically carrying the $50 minimum refundable property tax credit to line 56 of NJ-1040 on returns where taking the credit is clearly more advantageous than the deduction (i.e. zero taxable income); anyone else notice this?

And at one end of the bar is Donald Trump and the other end of the bar sits Joe Biden.  In between the two of them sits Jesus and his lucky 13 disciples.   Ok, there is no joke, but this is religious and political ------- combined, so I want to see how long before it disappears.  My timer is set, so GO!  

Client sold rental and bought second rental on land contract.  Does not qualify for like kind due to not identifying 2nd property within the 45 days.  New rental is being bought on land contract, and since the client doesn’t technically own the property can they take depreciation?