Leaderboard

In comparison, I'm little more than halfway through my career.

This is one of the most stimulating and impressive things that I have ever seen. One of my clients did tell me just the other day that I had to stay actively preparing her tax returns for another 20 years. Maybe?????

The part I could see using "reader view" Some tax professionals keep crunching numbers into their 90s and beyond GRAND FORKS, N. D.—Else M. Rike will be 101 years old on March 24 but doesn’t expect to take a day off to celebrate. She will be too busy preparing tax returns. After more than 70 years as an independent tax preparer, Rike knows how to pace herself. She aims to finish at least three returns a day in the weeks before April 15. The photo from the article:

Sorry, paywall. But I don't understand "old people" doing tax returns.../s

I'm confused because your original post said it was a SMLLC.

No. If properly prepared the 2023 form would have a check mark in Box 7. It's just a timing issue not a taxable issue..

From what I've read, CA, UT and NY are the only states that accept superseded individual returns.

Nor, do I!!!! Give credit where credit is due.

From 2018 onward, ATX tax and payroll have the same user interface and files structures. Payroll has its own MS 'Payroll xxxx Service'. Backup procedure is the same for both.

This stuff is nauseating.

Scan down the options under other income on Sch F. Check item #7. Has anyone every reported "illegal federal irrigation subsidies?" Asking for a friend.................

Yes, I am claiming a foster child who lived with my client for 7 months during 2024. Hopefully his drug addict mother, doesn't claim him first

But Our Judy cannot be Our Judy without Eric. It is a ying/yang thing.... Tom Longview, TX

Again, thank you - always something to learn! Best, Darlene

For K-1s from estate 1041s, it is the trust year-END that is within the individual's tax year that dictates what year to report on the individual's return. In your client's case, the K-1 year ended on July 31, 2024 so the activity from the K-1 flows to the individuals 2024 return.

it is a 2024 income item.

I wouldn't think they would change it. Other software vendors let you decide what security you want to use. Proseries does and Drake. Its up to the preparer to meet IRS requirements.

This was a GLORIOUS discovery. Thank you!!