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3/27 ProSeries Ask me Anything session 11am-2pm Eastern Time

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Employee
Employee

3/27 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.  Experts will use the comment field to respond to your questions. 


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- POST CLOSED

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Moderator
Moderator

This post is now closed. We will be running sessions Monday/Wednesday/Friday until the end of season from 11am to 2pm Eastern. Please join us for our next live session!

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View solution in original post

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Moderator
Moderator

This post is now closed. We will be running sessions Monday/Wednesday/Friday until the end of season from 11am to 2pm Eastern. Please join us for our next live session!

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Accept as solution"

View solution in original post

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Level 15

What is the latest time that I can submit a return to have it considered timely filed?

Since it appears to be a slow news day here, I thought I would get the ball rolling.  That question gets to be quite popular in the next couple of weeks so I thought I would try and win the prize by being the first to ask it.

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.
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Employee
Employee
Hi @IRonMaN thanks for the question! :smile:
You can submit the return until 11:59 pm of deadline day for it to be considered filed timely. Think of it as a 'post mark' as if you were paper filing. Even if the acceptance does not come until the next day, if it was submitted before 11:59pm it is considered timely filed. In the case that it was timely filed and then rejected, there is a perfection period. More info on perfection periods found here: https://accountants-community.intuit.com/articles/1609461-electronic-filing-deadlines-and-perfection...
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Level 15
Level 15

I have Sch D set to print with the Filing Copy "If any data" yet it prints out with every return...even if they only have a W2 and nothing more.

Can this be forwarded to development please.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Hang tight Lisa, trying to replicate now :+1::+1:
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Thanks Lisa, for the question!  So we were able to replicate, i have no data, doesn't show in my "forms in use" but is printing in my print preview when listed as "if any data".  I'll be honest this will probably be a lower end priority but I will def get this reported.  Thanks lady! :+1::+1:
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Level 15
Level 15
I know its low priority and I can workaround, just thought Id add it to someone's to-do list for next year.  Thank you!

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Sure thing!
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Level 2

Hello, what hours are you open again on? 

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Community Manager
Community Manager
We will be running sessions Monday/Wednesday/Friday until the end of season from 11am to 2pm Eastern.

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Level 2

Are you able to efile 2017 1040s that have an amount due? Or do we have to efile then send in payment via the 1040-V. Thanks!

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Employee
Employee
Hi @sawas25 thanks for joining us! You can efile a 2017 return with an amount due, and you can select it for electronic funds withdrawal or mail in the payments. The caveat to this in a prior year return is that you cannot set a date for withdrawal, as it will be done as soon as the IRS processes the return.
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Level 1
Thank you sooo much for the quick response @Intuit Katie !! Your the best!
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Employee
Employee
Happy to help!
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Level 1

Question:  A client sold all shares of a PTP.  His 1099-B shows proceeds and cost basis for a gain of 9K, and his K-1 from the PTP has a schedule showing that ordinary gain on the sale of 35K needs to be reported on 4797.  Are there any articles or guidance on how to do this?

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Moderator
Moderator
There is an article that takes care of the 1099-B portion: https://accountants-community.intuit.com/articles/1612244-how-to-report-sale-of-complete-partnership...  just make sure you use the Corrected Basis (If Applicable) field to get the right Capital Gain/Loss amount for the Schedule D.
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Moderator
Moderator
For the 35K Ordinary Gain you would just go to the 4797 page 1 and enter it in the Smart Worksheet at the top of the 4797.
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Question: If a client has an amount in box 10 of W2 for Dependent Care Benefits, should I be completing Part 1 of Form 2441 and listing the provider details and amount paid for child care? If so, should I only list the amount paid up to the amount of the benefit received, or the total amount paid?

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Hi Patrick, thanks for the question! :+1:  Since we are unable to provide tax advice, which this would fall under, I can only tell you that yes, Form 2441's section about providers is to list/claim dependent and child care expenses, and amounts paid.  As far as whether or not you should only list the amt paid up to the benefit, i would recommend you pulsing your peers by asking this question on the main community page, if one of our regular All Stars does not chime in.:+1:
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Thanks, Ashley.
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Absolutely. You are welcome.
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Level 15
Fill in the form and use the total amount paid to the daycare provider.
ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.
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Thanks @IRonMaN
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Level 15
:+1::+1:
ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.
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Level 1

Question: With a RHODE ISLAND e-filed personal return's balance due including an underpayment penalty, why is an account debit only including the tax due (and not the penalty)? Should I override somewhere to correct this?

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Moderator
Moderator
This issue has been reported to development and should be corrected in an upcoming update.
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Level 1
Thanks much!
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Level 2

Question:  Is there any update on Congressional Extenders for 2018?

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Hi @mike thank you for the question.  I believe a lot of the tax breaks are still "up in the air".  Here is a cnbc link from last month (https://www.cnbc.com/2019/02/06/congress-has-yet-to-approve-these-valuable-tax-breaks-for-2018.html) , and to the best of my knowledge there are no additional details at this time.  I would encourage you to check back on the IRS.gov site as well frequently for changes.
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Level 2
Yep, saw that as well.  Can't find anything more current either.
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I am sure as information is approved, the IRS will likely announce and cascade accordingly.
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Level 1

Question: is there any way to batch import 300-400 prior year returns (either as PDF or CSV) in to the 2017 proseries pro 2017? the goal would then to transfer the data to 2018 and have the "shell" return available for much faster 2018 preparation. thank you!

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Moderator
Moderator
ProSeries does not have the ability to import returns from CSV or PDF. We can perform a year to year transfer of ProSeries Data files. If you have recently switched software vendors we do have a Data Conversion process that can convert tax returns from most of our major competitors. https://proconnect.intuit.com/proseries/data-conversion/ gives you more information on Data Conversion and what software we can convert from.
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Level 1
Question: Can I efile a CA return that has two schedule Cs that are both single member LLCs
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Employee
Employee
ProSeries only supports the creation of one LLC per return, per unique Employer Identification Number (EIN).
Taxpayers with multiple LLCs with the same EIN will be able to efile only the first LLC, all remaining LLCs must be printed and filed by mail.
https://accountants-community.intuit.com/articles/1628841-preparing-a-single-member-llc-for-efile
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Level 1
Thanks Katie. So if I understand you correctly, I efile everything with just one Form 568 LLC and then print the other Form 568 and mail just that form in? Is that correct?
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Employee
Employee
Yes, you are correct :smile::smile:
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Level 1
Thanks Katie. I appreciate your help.
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Level 2

Form 1040, taxpayer has excess HSA contributions which will be returned before filing the tax return. ProSeries is correctly included in income and taxing the excess. Where do I indicate that the contribution is not subject to the 6% excise tax?


Thank you

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Level 10
If you look at the help file for Form 8889 Line 2 (hit F1), you'll find:

"Note: Do not include any excess contributions that were withdrawn by the due date of the return."

So, as long as it gets unwound by the deadline, pretend it didn't happen.

Rick
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Moderator
Moderator
This depends on the type of HSA contribution.
If the Contribution was on the W-2 it flows to the 8889 line 9. On the 8889 Line 12 Smart Worksheet there is a line for Excess Withdrawn after the end of the year.   

If the contribution was on the 8889 line 2 (Not through a W2) the program help for line 2 indicates to not include any contributions that will be  withdrawn before the due date of the return.
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Level 2
Thank you
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Level 1
Can a client who was claimed by her mom file MFS? If so what should her standard deduction be? Proseries gives her 12000 standard deduction.  They cannot file MFJ because they are not filing just to get a refund
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Employee
Employee
Hi @kennoncpa - As we are program experts and not tax professionals, the moderators are not able to advise on if she can file MFS or what her deduction should be. However, our AllStars may be able to jump in on this and provide their tax expertise. Alternatively, you can post this question on the main community page for other preparers to answer.
@Just Lisa Now! @IRonMaN are you possibly able to weigh in?
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Level 2

Is there a way to print the client copy with the social security numbers masked without any watermark?

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When printing Client Copy specifically there is a checkbox for Mask Sensitive Data, but while we don't encourage printing that information, you can always provide the client with the Filing copy too
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Level 2
When I click on Mask Sensitive Data the Watermark is checked and greyed out by default
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Moderator
Moderator
If the Sensitive Date on the return has been masked the watermark would automatically apply. There is not a way to print it masked without the watermark.
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Level 1
Are all the updates complete on the 5695?
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