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LoveTax's Posts

Is it possible to manually lock the return after manual "unlock return" was clicked in PTO?
How to generate Ohio Depreciation Schedule to print (for sch E Rental) in ProConnect Tax for individual tax returns (1040)? Ohio accelerated depreciation adjustments were reported (not claimed due to... See more...
How to generate Ohio Depreciation Schedule to print (for sch E Rental) in ProConnect Tax for individual tax returns (1040)? Ohio accelerated depreciation adjustments were reported (not claimed due to net loss). Thank you
Agree
In the Business Income (Sch C) section under Business Information tab go down to section before "Explanations" and put 1 for Delete this year.
Is there a way to create a separate folder/section for uploading documents directly to client's Shared Document folder via Intuit Link? Thank you
Intuit Link: Add ability to add Sections for Templates in Intuit link (like Completed/Final Tax Returns), so preparers can deliver final products to this folder/section and clients can download docu... See more...
Intuit Link: Add ability to add Sections for Templates in Intuit link (like Completed/Final Tax Returns), so preparers can deliver final products to this folder/section and clients can download documents shared BY tax preparers directly from Intuit Link without confusion. Since clients went through the hassle of setting up user name/profile for Intuit Link and gathered all tax docs there, there would be logical for us, tax professionals, to be able to share final products with clients via the same Secured means of communication instead of password protecting final copies of tax returns and emailing/using other workarounds. Basically, there is a need for a clearly marked separate section for tax preparers where we can securely share documents with clients.
How do you deliver the final product to the client once tax returns are complete. I've used to collect tax info via Intuit Link, however, do not see an appropriate way/folder to upload the final prod... See more...
How do you deliver the final product to the client once tax returns are complete. I've used to collect tax info via Intuit Link, however, do not see an appropriate way/folder to upload the final product there. Please share your experience. Thank you!
Looks like the issue was fixed today. Here are the steps that worked for me: Once I re-entered Nonresident income for PA Schedule SP (in the MFS screen, although my client is single), sch SP is no l... See more...
Looks like the issue was fixed today. Here are the steps that worked for me: Once I re-entered Nonresident income for PA Schedule SP (in the MFS screen, although my client is single), sch SP is no longer generated and form PA-40 looks correct.        
  Please let me know what other inputs I should check 🙏
Form PA-40 line 19a should show code 0 and no tax forgiveness, however it is currently shows code 01 and calculated tax forgiveness schedule for nonresidents. How to fix this?
Great idea! 
1. For tax returns reviews. This will save a whole lot of time. 2. Once return is printed, it is so much easier to navigate, especially in 100+ pages. To easily find Federal and Tax forms.  3. I ca... See more...
1. For tax returns reviews. This will save a whole lot of time. 2. Once return is printed, it is so much easier to navigate, especially in 100+ pages. To easily find Federal and Tax forms.  3. I can bookmark pages that need to be signed (manually or digitally). 4. If client calls to go over specific item, it would be so much easier to navigate in pdf file. 5. Compare to the prior year returns. 6. It looks professional (even TurboTax provides this feature!).
Is it possible to make PTO calculate late tax payment penalty in PTO for CA 568 LLC for current year (client never paid min CA LLC tax of $800 for 2020)?
qbteachmt, Thank you very much for your research. I might be confusing subscriptions with QBO Accountant. There are various levels of QBO subscriptions, I am not sure if I will be able to use Prep... See more...
qbteachmt, Thank you very much for your research. I might be confusing subscriptions with QBO Accountant. There are various levels of QBO subscriptions, I am not sure if I will be able to use Prep for Taxes for QBO Essential level via my QBO Accountant view if my client subscribes to QBO Essential.... I know for sure that QBO Self-Employed does NOT have Prep for Taxes, but I cannot find which subscription level does have prep for taxes. Is there a place/link/chart to check?
Thank you, my understanding based on this info and PTO calc, looks like husband with SSN + child with SSN both qualify for EIP #1 even with ITIN spouse, so will file with EIP credit and hope for no I... See more...
Thank you, my understanding based on this info and PTO calc, looks like husband with SSN + child with SSN both qualify for EIP #1 even with ITIN spouse, so will file with EIP credit and hope for no IRS notices.
ProConnect Tax Online calculates Recovery Rebates credit for the spouse with ITIN. Based on IRS descriptions, the whole family was disqualified for EIP #1 with any spouse with ITIN; only those with S... See more...
ProConnect Tax Online calculates Recovery Rebates credit for the spouse with ITIN. Based on IRS descriptions, the whole family was disqualified for EIP #1 with any spouse with ITIN; only those with SSN were qualified for EIP #2. Is there a way to suppress/fix the calc?  Case: Husband with SSN valid for employment, wife with ITIN, child with SSN. They received EIP #2 of $1,200 ($600 husband + $600 child). What's the best approach in filing via PTO? Thank you
@BobKamman REIT LLCs with similar names do not have tickers. Even if no-one is reading, I still have to input all numbers into the software.
Are dependent care benefit amount reported on W-2 line10 fully taxable if only one spouse worked in 2020 and another spouse with ITIN is not allowed to earn income? The couple spent on child care ov... See more...
Are dependent care benefit amount reported on W-2 line10 fully taxable if only one spouse worked in 2020 and another spouse with ITIN is not allowed to earn income? The couple spent on child care over $10K vs DCB $3,461. Thank you