I have a client with 4 rental properties so there is obviously going to be a second Schedule E. When I sent the e-signature file to him to sign, only 1 Schedule E was included. I then looked at a pri...
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I have a client with 4 rental properties so there is obviously going to be a second Schedule E. When I sent the e-signature file to him to sign, only 1 Schedule E was included. I then looked at a print preview of both the filing copy and the client copy and there is only 1 Schedule E. Anyone else having this issue and know how to resolve it or is it a software glitch? Thank you Jeremy
I have a similar issue where a client was deemed 100% disabled and withheld about 4 months of his DFAS retirement. His 1099R still reflected the full amount but the VA sent a letter indicating he cou...
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I have a similar issue where a client was deemed 100% disabled and withheld about 4 months of his DFAS retirement. His 1099R still reflected the full amount but the VA sent a letter indicating he could exclude the withheld portion from taxation. Anyone have thoughts on how to exclude that to avoid a notice from the IRS? Thanks
I have a client who owned 6 rental properties with her now ex-husband. Her divorce was finalized in June 2021 and each spouse kept 3 of the properties. My questions is how do I treat the rental prop...
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I have a client who owned 6 rental properties with her now ex-husband. Her divorce was finalized in June 2021 and each spouse kept 3 of the properties. My questions is how do I treat the rental properties for the first 6 months of the year? Should they each claim half of all 6 for 6 months and then only their respective 3 properties for the rest of the year or should they just claim 100% of the 3 properties they retained? Thanks in advance Jeremy
Client received a W-2 for the wages with taxes withheld. I entered the W-2 as normal and then entered the entire amount as an adjustment in Other Income. The program won't allow e-file because of the ...
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Client received a W-2 for the wages with taxes withheld. I entered the W-2 as normal and then entered the entire amount as an adjustment in Other Income. The program won't allow e-file because of the withholdings. Is there a way around this?
I have a client that receives royalty checks several times throughout the year. The income was supposed to be for her niece but wasn't set up that way because of her being a minor. When shereceives t...
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I have a client that receives royalty checks several times throughout the year. The income was supposed to be for her niece but wasn't set up that way because of her being a minor. When shereceives the checks, she immediately signs the checks and deposits them directly into her niece's trust account. Her previous accountant told her that with good records, she didn't have to report that income on her return but instead it would be on her niece's trust return. I have looked but have been unable to find anything that will confirm that treatment. Can someone point me in the right direction or explain how I would report it? Or, is this not allowed? Jeremy