cpr1955

No grants to individuals

My client donated more than $5,000 in total grants, but no one recipient received more than $5,000. The software is giving me an error message that I must complete Sch I (which I have). Any fixes?

I switched back to ATX from ProSeries, which did have the 114 available (although it was a mess). No big deal - thank you!

Is FinCEN 114 available on ATX?

I have a client who loaned his friend a good amount of money to start a business. The business is not doing that well, and my client would like to claim non-business bad debt. I know the rules for filing the loss, but am not sure how it would affect his friend's tax situation, i.e. would the IRS require that the friend report debt forgiveness income?

No - I am re-allocating equity among partners. Want to show increases and decreases in Box 20 using Code Z. I can enter the amounts on the "Detail - Items" tab in the 1065 K-1 module, but I keep getting the error message I typed above.

I have some Code Z items that I need to enter. I am able to enter in the "Detail - Items" tab, but when I check the return, it gives me a message that the "total amount from "Detail - Items" should match the amount on "Detail" for line 20, Code Z." When I try to enter the amount on the "Detail" tab, the program says it is a locked field - cannot override. i just switched back to ATX this tax season, so am still a little rusty.

Thank you, Jainen - I thought that I had read all of Pub 536 - guess my eyes were glazing over.

I have tried to e-file a 1040 that has net operating losses from prior years and carryforwards to subsequent years. The program requires that an "NOL statement" be completed in order to e-file. I am not sure why this is required. What kind of info needs to be stated?

My software has slowed to a crawl. I recently updated my anti-virus program. Thinking that this may be the problem, I disabled it, but it did not affect the speed of ATX. Any ideas on how to speed things up again?

I tried that and also called ATX supoort. They had me go through and remove all unneeded punctuation and then resubmit. IRS still rejected. I keep getting an "unexpected end of content" message for the EIN, Start Date, Accounting Method and Number of Forms K-1 fields.

One of my 1065's was rejected for "XML data has failed schema validation". What is this and how can I fix it?