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4/12 ProSeries Ask me Anything session 11am-2pm Eastern Time

4/12 ProSeries Ask me Anything session 11am-2pm Eastern Time

Welcome to the ProSeries 'Ask me Anything' post.  Please use the answer question button to ask your question and use the tag "Question:" followed by your question.  ProSeries Product Experts will use the comment field to respond to your questions. Please note that Moderators cannot answer Tax Advice Questions, however, other Community Members and AllStars may contribute answers as well. 

PLEASE scroll to the bottom of the post and hit "Contribute an answer" to ask your question (or "I can Answer" depending on your view)  (Helps to ensure we see each question)

This post will remain live until 2pm EDT. 


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It's been a pleasure assisting with your Ask Me Anything questions this tax season.  Finish strong and we'll talk again soon!

- Ashley, Charlene, Katie, Austin, and Kathi

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This post will close in 15 minutes at 2pm Eastern Time.


It's been a pleasure assisting with your Ask Me Anything questions this tax season.  Finish strong and we'll talk again soon!

- Ashley, Charlene, Katie, Austin, and Kathi

View solution in original post

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Champion
Just an FYI to pass to developers, my flat rate global billing description still doesn't transfer over to the tax returns....not worth whining about, but thought someone might want to add that to their "need to fix" punch list!

I have "2018 Tax return preparation fee" showing in Tools > Options> Global Billing
But the invoice prints out as just  "Tax return preparation fee" it doesn't include the tax year that I've added in there.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Noted.  Thanks Lisa.
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rbynaker
Level 9
Yeah, the billing stuff has been broken all year.  The closest thing to a work-around I've found as soon as you start working on the return, go into the invoice and check that box at the top to reset everything.  The states seem to work okay, but it doesn't seem to matter when I transferred the federal (December or April), it's always broken.
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Champion
Ahhhh ok, that does fix it.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Champion

help me please.... i'm pinned up here at the top of the heap and can't get down

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CVTS
Level 3

Client has a fishing business. My 1st time setting up a boat as an asset. What type asset code do I use? Is it "O" 10 years?

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Moderator
Moderator
If we right click on the Type of Asset and choose About ProSeries does have an alphabetical list of assets. Boat is listed with code O as the best choice. When we click on the O it does list Boat with a typical recovery period of 10. These lists are generated based on info in Pub 946.
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CVTS
Level 3
Only issue with "O" is that you have to set up all info, it doesn't auto populate.
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dlmclellan
Level 1

Preparing 1041.

Need to distribute net accounting income  jan to July 7 to one benef, and all other distributons after July 7 to 4 other benefs in final year.


How do I do this on the k-1's?

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Moderator
Moderator
The 1041 does not really have a way to do Special Allocations but with a little math you may be able to do it with a minimal amount of entries. The 1041 Schedule B line 9 shows you the amount that will flow to the beneficiaries. When you get to the K-1 itself you have the choice to allocate by Percentage OR by amount. In this case you may want to use the BY Amount field to allocate a specific dollar portion to beneficiary one (the amount earned from 01/01-07/07) then on the second beneficiary enter their exact dollar portion. You just want to make sure the By Amount fields total to the Schedule B line 9.
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Ernie
Level 8

Where are the prior ask me anything posts?

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Moderator
Moderator
Hi Ernie and thanks for stopping by. We keep the links in the following announcement: https://accountants-community.intuit.com/announcements/1799523
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Ernie
Level 8
Thanks.
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TaxBandit
Level 1
QUESTION:  Does ProSeries process 8689 forms?
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You can enter an enhancement request here though for next year: https://intuit.uservoice.com/forums/31961-proseries-tax-product-suggestions
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@TaxBandit there is an entry for it, looks like it's in the "Other Credits and Payments Mart Worksheet, line E reads "Line 74, credit for U.S. tax paid to the Virgin Islands (Form 8689)"
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TaxBandit
Level 1
I found that is where the credit goes but I also need that form with the return.  Guess it's a paper file with form added from the IRS website.
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Maxine
Level 3

I have a return that I cannot get rid of the reject code.  Divorced Mom with 3 kids, oldest is a college student, she wanted me to file with all benefits for all 3 kids knowing the return would most likely reject because Dad has been claiming the oldest.  His income is too high for any college credit and she is 20 now so we were going top get the reject, efile without her and then amend to add college student who lives with Mom, no 8332 signed in order to claim her and AOTC.  

After the reject I went in and changed college student to code Q, ran review and the code is still return rejected and next step resolve return.  I have completely taken off the dependent and shut down the program and rebooted the computer put the college student back on with code Q and still have the same red return rejected in the status column.

The reject description is  /efile:Return/efile:Return Data/efile:IRS1040[1]/efile:DependentDetail[3]/efile:DependentSSN     These are always confusing so thought okay maybe he claimed dependent 1 and 3 (college student was 3).  I went through the above steps again changing codes on 1st dependent also.  Even completely deleted them to try to clear the reject, nothing has worked.  Run homebase tune-up and data base maintenance, nothing has worked.  Why can I not get the return rejected to clear?  

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Moderator
Moderator
What was the rejection code on the return? The Field reference would definitely be indicating the third dependent listed on the 1040 itself.
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Maxine
Level 3
R0000-507-01
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Moderator
Moderator
When you put in a code Q for the dependent that person should no longer appear on the 1040 Dependents line. Are they showing on your 1040 still? It would be the third person on the 1040 Dependents line that is generating the rejection.
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Maxine
Level 3
No the code Q dependent does not appear on the actual 1040.  She does qualify the taxpayer for additional EIC.
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Moderator
Moderator
When you e-filed it after you moved the people around was it still /efile:Return/efile:Return Data/efile:IRS1040[1]/efile:DependentDetail[3]/efile:DependentSSN  which would be the third person listed on the 1040?  efile:DependentDetail[3]  the number in brackets here is what we would want to compare with the 1040 itself.
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Maxine
Level 3
I haven't been able to efile a 2nd time I cannot clear the red Return Rejected Resolve Error status.
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Moderator
Moderator
Ahh ok. So changing them to code Q should clear the reject. We just need to re-transmit the return. You would just highlight the return on the EF Center and choose to e-file it again now that code Q is picked for the student.
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Maxine
Level 3
I think this is my only reject this year, in past years that would have to be cleared and would then give the status as return marked for efile.  I just tried resending with the return reject there and it is now received by Intuit.....OMG I have wasted so much time on this, will keep checking to see if it gets accepted.
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Moderator
Moderator
I'm glad I could help get it re-transmitted!
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Maxine
Level 3
Thank you Charlene for saving me from more frustration.  Lesson learned, these days with all the changes, don't think you know how the program works even if you have used it for 23 years, lol.
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Moderator
Moderator
I hope this last weekend goes smooth for you! Thanks for stopping by our Ask Me Anything live session!
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TaxGuyBill
Level 11
As a side note, I had a reject notice that the dependent number [3] was wrong.  It was actually a different dependent that was causing the problem.
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