I've had 2 clients whose underpayment penalties were partially refunded. This has never happened before. Does anyone know if there is/was a glitch in the softwa... read more
Client received ERC in 2023. Do 2020/2021 tax returns have to be amended or can this be reported on 2023 tax returns as other income? Reading conflicting "opini... read more
Taxpayers owe taxes on their Form 1040. Their children want to pay the taxes, each paying 1/3 of the taxes owed. What form do I use or how do I do this???????
My clients owes taxes and their children want to pay the taxes for them. There are 3 children and each wants to pay 1/3 of the taxes owed. What do I have to do?... read more
Is there a downside to including investment income on Line 4e? Will this comeback to hurt my client in the future? The only reference I can think of is deprecia... read more
Taxpayer received a Sch K-1 (Form 1041) from a Trust with Ordinary Income (Box 6) of $213,368 and Box 14 marked with Code H with an adjustment amount of -$213,3... read more
Customer did a back door Roth, however, when I enter the amount on Form 8606 on Line 1, then Line 8, 11, and 16 does not populate the amounts to show the conver... read more
Is anyone experiencing worksheets printing (2023 ProSeries) that had previously been "turned off" when we customized our settings in December? The two people in... read more
I am working on an estate return in which the main home and a business property both of which were sold within five months of the date of death. I have read tha... read more
H & W clients own a property that they rent through VRBO. They are not real estate professionals and they say they don't stay at the property for vacations.So t... read more