Toussaint's Posts

Toussaint · ‎03-04-2021

In Intuit Link when a client is active I get an email. However, it never tells me if they are completed with uploading documents/responding to questions. It takes considerable time to look at each...

In Intuit Link when a client is active I get an email. However, it never tells me if they are completed with uploading documents/responding to questions. It takes considerable time to look at each request every time they are active.

Toussaint · ‎09-12-2020

I agree that the social would have to match the name for the federal to not get rejected. However, the state doesn't always work that way. If either fed/state was filed incorrectly. I would se...

I agree that the social would have to match the name for the federal to not get rejected. However, the state doesn't always work that way. If either fed/state was filed incorrectly. I would send the amended return with the explanation of "Clerical Error" and state the original filed social and the correct one - enclose an "As originally filed" return copy as well as an "As amended" return copy with the 1040-X or other state Amended form. Seem like amended would have to be paper filed as Intuit software wont let you alter the SS# once it has been transmitted.

Toussaint · ‎05-29-2019

Shareholder A in an S-corporation had $0 stock basis and $100,000 of Debt basis (from loans provided to the corp over the past few years - that have never been paid back). Shareholder A wishes t...

Shareholder A in an S-corporation had $0 stock basis and $100,000 of Debt basis (from loans provided to the corp over the past few years - that have never been paid back). Shareholder A wishes to no longer be involved in the business. Shareholder B wants to continue the business. Shareholder A agrees to take payments on the loan. Questions are this: 1. How are the payments treated? 2. What happens to the Debt basis? 3. What happens to the Shares owned by A?

Toussaint's Posts

Toussaint's Posts

Client Complete notification

Re: How to correct the wrong SSN given in the return

S-Corp Shareholder with Debt Basis calls it quits!

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