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Prior year tax return information for a new client

grandma1
Level 1

Do I need to enter any information for a new client from their prior years tax return?  If so, where do I do this?

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6 Replies 6
Just-Lisa-Now-
Level 15
Level 15
Maybe, do they have any carryover information that would need to be input for 2020?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
lindadod0626
Level 3

Depending on the state you're in, sometimes you'll need the earlier return to calculate whether a state refund is taxable on the current return.  

I wouldn't enter anything under, say, tax history; I'd prefer that my client be able to distinguish between preparers and only want the data I prepared on the tax history form.  

josephfolsomcpa
Level 4

I normally enter the prior year for new clients so I can use the two year comparison. I enter the prior year data on the "two year comparision worksheet" It's also a good exercise to check for any carry overs from the prior year to the current year. 

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sjrcpa
Level 15

I always enter last year's AGI and tax for underpayment penalty computation purposes.


ex-AllStar
grandma1
Level 1

Where do I enter this information?  What if they did not have any income in prior year, therefore, did not file a tax return?  

Also, is anyone else having problems with the final review continually looping and never completing?  I have had basic returns with just W-2's, returns with W-2 and 1099-NEC, returns with W-2 and 1099-R - everyone I have done is not completing the final review (and these are from prior year transfers)?

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Just-Lisa-Now-
Level 15
Level 15
Ive seen reports of the looping issue when a 1099NEC has been entered, not sure why it does it, but thats been the culprit for many people.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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