I have a 1095-A, Health Insurance Marketplace statement, for parents and child. In 2023, child is no longer a dependent but is still on the 1095-A. I am preparing both returns. I want to allocate 10...
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I have a 1095-A, Health Insurance Marketplace statement, for parents and child. In 2023, child is no longer a dependent but is still on the 1095-A. I am preparing both returns. I want to allocate 100% of everything on the 1095-A to the parents. I am getting a critical diagnosis, ref. #58459, that the child must paper file their tax return because enrollment premiums or advance payment of PTC must be entered. I have entered that information in Lacerte. Based on all of the instructions, it seems that my situation is a standard allocation and no where do I find that a paper return must be filed. What have I done incorrectly?
I am getting the same message! Sometimes, I copy a client and the new client will back up just fine. Then, I delete the first client with the error. However, this is happening to a return that I ha...
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I am getting the same message! Sometimes, I copy a client and the new client will back up just fine. Then, I delete the first client with the error. However, this is happening to a return that I have already gained REP access for a 2nd state. If I copy, I will be charged twice. So, I am looking at other options. Any suggestions??
Taxpayer had received K-1's for a rental property held in a family trust, for several years. Each year created a passive loss carryover on the TP's 1040. In 2022, the last member of the Family Trus...
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Taxpayer had received K-1's for a rental property held in a family trust, for several years. Each year created a passive loss carryover on the TP's 1040. In 2022, the last member of the Family Trust passed away and the Trust ended. It distributed the rental property to the last beneficiary (my client) based on the terms of the Trust. The K-1 is marked Final. So, all of the previous PLC on the TP's 8582 is being released. I am concerned because the property was not sold, it was transferred to my client. Should this PLC be fully released? If no, how do I keep it from releasing?
The first 3 words of IR-2023-33 = Disaster-area taxpayers...... My interpretation is that if you live in a declared disaster area, you are allowed the extension. It doesn't say "taxpayers impacted ...
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The first 3 words of IR-2023-33 = Disaster-area taxpayers...... My interpretation is that if you live in a declared disaster area, you are allowed the extension. It doesn't say "taxpayers impacted by a disaster", which in my mind is different.
I double checked the IRS website today, this address still seems to be valid until June. This address was also provided by Lacerte software on the client letter and the 1040-V payment voucher.
In previous years, we could type in "various" under the name of foreign country when entering foreign tax paid information from dividends. Is that no longer available in the 2020 program? How are o...
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In previous years, we could type in "various" under the name of foreign country when entering foreign tax paid information from dividends. Is that no longer available in the 2020 program? How are others handling this when the foreign country name is not available on the 1099-DIV?
It would be great if that was a feature, but, I haven't found it. My work-a-round is to create my own PDF copy of the tax return, water marked review copy, of just the forms in the actual return. T...
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It would be great if that was a feature, but, I haven't found it. My work-a-round is to create my own PDF copy of the tax return, water marked review copy, of just the forms in the actual return. Then, I make a PDF copy of items in the return that I do not want to be watermarked, such as ES and the client letter. I then upload both of those as "other documents". I check the box that I do not want DocuSign to automatically add a watermarked copy of the return to the envelope. I would be really interested to find out if there are settings that would make this automatic. Nothing is more frustrating than having to re-invent the wheel for something that could be automated.
I have entered all of the information for California Withholding on a Real Estate Transaction (Form 593) but keep getting a critical diagnostic (ref. # 35806) that the seller address information is r...
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I have entered all of the information for California Withholding on a Real Estate Transaction (Form 593) but keep getting a critical diagnostic (ref. # 35806) that the seller address information is required for e-file purposes. When I click the hyper link to see the missing entry, it takes me to the address section that I have already completed. I tried closing the return, restarting Lacerte, but, still, I get the critical diagnostic. I searched help, but could not find any reference to this error code. What am I missing? Thank you for your help.
Client has tried remotely to "verify" signature through the Lacerte e-signature authentication process. She says she answered all of the questions correctly, yet, the authentication process has faile...
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Client has tried remotely to "verify" signature through the Lacerte e-signature authentication process. She says she answered all of the questions correctly, yet, the authentication process has failed twice. Other than having her come into the office to sign her e-file documents, is there an alternative process through DocuSign?