New Client comes in to file personal and upon talking tells us he created a partnership pre Covid 2 partners. Had no activity until 2022 and 2023 which were all... read more
I have a combined Texas partnership with revenue well below the threshold limit. Only a PIR is due, but the critical diagnostic says I don't need ot file Form 0... read more
My client took the standard deduction in 2020 but still made some charitable deductions that I'm hoping to carry through to 1040 line 10b. I've put the contribu... read more
The following diagnostic is generating: Form 4868 can only be filed on or before the original due date... This diagnostic now applies to every client that we e-... read more
I am receiving an error on the Texas Form 05-164 extension request when I have a combined group. It states that "Combined Entities must add affiliates to Form 0... read more
Anybody know what to do about efiling nonprofit short year tax returns, as well as the requirement to file 2 in the same calendar year?The IRS has required this... read more
In depreciating a home office, that office is supposed to be depreciated as commercial real property, which is MACRS straight-line over 39 years. Generally, §12... read more
I have had two or three clients reach out to me because their 2023 tax due did not come out of their bank account yet. One of them pays through electronic withd... read more
We are making updates to state calculations for custom strategies in the Tax Year 2024 projected tax returns and tax plans in Intuit Tax Advisor. As part of thi... read more
I was led to believe an FBAR would be required for a client for 2023. So I answered questions 7a & 7b yes. However, it turns out that the account was never 10k ... read more
On IT 201, Part 1, Section 2a, NYS that box should be greyed out.I entered earnings for federal and nys and it shows excess contributions when added to the actu... read more
Client retired and has decided to rent out his commercial building. How do I switch the asset from Schedule C to Schedule E? I stopped depreciation on the Sch C... read more