I have searched this and i can't seem to get a firm answer. I don't prepare a lot of payroll. As any client that has more than a few employees, uses a payroll company for that. I don't have any c...
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I have searched this and i can't seem to get a firm answer. I don't prepare a lot of payroll. As any client that has more than a few employees, uses a payroll company for that. I don't have any client that has more than 10 W-2s. If you combined all the clients that I do payroll for, then yes it is more than 10 employees. I know it is for 1099s combined with W-2s. Would have two in total as I do have two that have more than 10 in that case. But, do I have to electronically file for all my clients as combined everything is over 10. Or just for the two where the combined W-2s/1099s are over then. Thanks in advance
One year later is the 10 W-2s/1099s in total for all my clients or per client? I don't have much payroll. I don't have any one client that has more than 10 employees. The ones that have more t...
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One year later is the 10 W-2s/1099s in total for all my clients or per client? I don't have much payroll. I don't have any one client that has more than 10 employees. The ones that have more than a few employees, have their payroll done by a payroll company. I do have a couple of clients that do have more than 10 1099s issued, so I would have to electronically file those Thanks,
1) 11/3/22 date of abandonment 2) 384,893 principal outstanding 4) 510,000 FMV of property 5) box is checked, borrower was personally liable for repayment of the debt the basis is not on the 1...
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1) 11/3/22 date of abandonment 2) 384,893 principal outstanding 4) 510,000 FMV of property 5) box is checked, borrower was personally liable for repayment of the debt the basis is not on the 1099-A. But it is about 420,000 Thanks for your help
I did fill out the cancelled debt worksheet. What i entered o Form 1099-A flowed to Part 1 Section 5 of the cancelled debt worksheet. My issue is that unlike when you fill out From 1099-C (which h...
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I did fill out the cancelled debt worksheet. What i entered o Form 1099-A flowed to Part 1 Section 5 of the cancelled debt worksheet. My issue is that unlike when you fill out From 1099-C (which has part to mark it is from bankruptcy (Box 6 identifiable code), there is no such box to mark on Form 1099-A. Which then makes it taxable and doesn't flow automatically to Form 982 (as it does for Form 1099-C) There is a Part VI exclusion for bankruptcy on the cancelled debt worksheet. But, even if i override that on Box 37, the numbers still don't flow properly. So do I have to fill out Part III on the cancelled debt worksheet (which would calculate the loss on sale, making the sale zero) and then fill out Form 982 manually?. Doesn't make sense to me.
I thought that originally. But, from what I read, when it is a bankruptcy, you don't do it that way. Maybe I am wrong, but seems that is only proper when it is not a bankruptcy
Client received Form 1099-A. I don't see a box in the worksheet to mark bankruptcy (as there is one Form 1099-C). How do I mark that? This prevents the information from flowing to Form 982. I'v...
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Client received Form 1099-A. I don't see a box in the worksheet to mark bankruptcy (as there is one Form 1099-C). How do I mark that? This prevents the information from flowing to Form 982. I've checked this board and while i found a couple of discussions about the bankruptcy, they all mentioned the link on Form 1099-C. Nothing about Form 1099-A. Thanks in advance for any help.
I see it for Form 1099-C. But not for Form 1099-A. I am using Pro Series professional Even if i override it on the Cancelled Debt worksheet, it doesn't flow to Form 982. Nor does it remove it fro...
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I see it for Form 1099-C. But not for Form 1099-A. I am using Pro Series professional Even if i override it on the Cancelled Debt worksheet, it doesn't flow to Form 982. Nor does it remove it from income.
I am preparing an S corp return that received three K-3s from different LLCs. One of those K-3s has information on page 17. The Section is Part X - Foreign Partner's Character and Source of income ...
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I am preparing an S corp return that received three K-3s from different LLCs. One of those K-3s has information on page 17. The Section is Part X - Foreign Partner's Character and Source of income and Deductions. There isn't page 17 in the K-2 or K-3 module of the S corp return. It does exist for the partnership returns in Pro Series. What do I do for the S corp
I didn't to create any K-3s until last week. In those cases it was one K-3 received. This client has three. For the k-2 that I create, I thought it would be entering each K-3 received onto 3 diffe...
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I didn't to create any K-3s until last week. In those cases it was one K-3 received. This client has three. For the k-2 that I create, I thought it would be entering each K-3 received onto 3 different K-2s separately (that then flows to a K-3 for each shareholder). Is this something where I just create one K-2 and manually add up the data for each of the three K-3s received? Sorry if this is a basic question, but as I said I didn't have to create any until last week. I did have 1040 clients receiving them, but that was different as it was a personal return. Thanks