This article will help you:
- Apply the CARES Act to your business returns (1041, 1065, 1120, 1120S) in ProSeries 2019
- Understand what applying the CARES Act provisions changes on your 2019 tax returns.
- Find clients' returns that you previously filed who may benefit from amending their return to apply the new provisions.
- Find articles for new forms and calculations due to the CARES Act for Tax year 2020 returns.
Related CARES Act topics:
- How to enter forgiven PPP loans in ProSeries 2020
- Generating Form 7202 in ProSeries will show you how to complete the new for tax year 2020 Credits for Sick Leave and Family Leave for Certain Self-Employed Individuals.
- Generating Form 8915-E in ProSeries will show you how to enter a 2020 Coronavirus-Related Retirement Distribution.
- Entering the Employee Retention Credit will help you make adjustments to the tax return if the Employee Retention Credit was taken on the 941 or 944.
- For information on deducting cash contributions if taking the standard deduction see 1040 Charitable Contributions.