I use the Pro Series Professional, but assume the programs are similar. If you have filled out the SEP 4.a. box with the amount from one LLC, but it still comes up with the two added together, you c...
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I use the Pro Series Professional, but assume the programs are similar. If you have filled out the SEP 4.a. box with the amount from one LLC, but it still comes up with the two added together, you can go on down to the Adjustment part and fix it there. If you need more help, use the HELP at the top of the page and get the Instructions for this Worksheet. It states that it only does one business at a time so can't understand why they are adding together. Override or Adjust. Use the HELP.
I'm having printing problems, too. I get an Error #10250: Can't create PDF Creator Pilot object. I got the Authorization to print, then the Error Message pops up. I've been using this program fro...
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I'm having printing problems, too. I get an Error #10250: Can't create PDF Creator Pilot object. I got the Authorization to print, then the Error Message pops up. I've been using this program from the beginning in the 1970's and have never had any problem with it running smoothly until this year. What is happening with the quality of this program this year? ProSeries Professional
Thank you everyone for the help in talking this over and suggestions of things to read. I've finally come up with the answer. The Joint Venture, a Special Partnersip, is to be reported on a Form 1065 ...
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Thank you everyone for the help in talking this over and suggestions of things to read. I've finally come up with the answer. The Joint Venture, a Special Partnersip, is to be reported on a Form 1065 for partnership treatment, but only used as a flow-thru vehicle. My client should've received a Form K-1 to pass his 25% income of profits. The other venturer should've received on his K-1 the interest expense he paid for the loan. I realized I had another client for 35 yrs. that a Form 1065 was used for a "flow-thru" vehicle for gathering information for a family with "undivided interests". I have the answer I was looking for, finally. Thanks, again.
The venture is a loan for equipment to be repaid to my client in 4 yrs. Should this venture be a partnership with treatment for taxes, but not really a partnership? It is called a Joint Venture, a spe...
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The venture is a loan for equipment to be repaid to my client in 4 yrs. Should this venture be a partnership with treatment for taxes, but not really a partnership? It is called a Joint Venture, a special partnership. My client receives a 25% ownership in business, no liability for expenses. Does anyone know where to put the income (25% of profits)? Should this be a 1065 or a Sch. C or just Line 21 on 1040?
You don't have to file if compensation is under $600. I found out it was really my client's 25% of income of joint venture. I need a Sch. C for the Venture to record the income. The 1099 must be zero ...
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You don't have to file if compensation is under $600. I found out it was really my client's 25% of income of joint venture. I need a Sch. C for the Venture to record the income. The 1099 must be zero (corrected). Thank you for the help.
Made out to Client. I asked Client to have 1099 corrected, which had loan payments plus under $600. of labor. Form 1099 should be zero. Thank you for your help.
Should the Joint Venture be reported on a Partnership Return with the K-1 going to each venturer? If not, where on the 1040, which Schedule, should the income be reported? My client received a For...
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Should the Joint Venture be reported on a Partnership Return with the K-1 going to each venturer? If not, where on the 1040, which Schedule, should the income be reported? My client received a Form 1099-Misc, with income and loan payments combined in the "Non-employee Compensation" box. Help!