cpacountry

My question deals with the amount of tax calculated on the Foreign Income Exclusion. I calculated that my client is able to receive a prorated exclusion of roughly $57K for 2019 (remainder to be had in 2020). However, their income is about $420K prior to the exclusion. Yet the tax savings is calculated based on the $57K solely as if it was the only income (from the 10% and 12% brackets), so it is only saving $6400 in tax. Am I missing something or is this correct?

Does anyone know if/when ATX will update the 2018 program so that we can amend for returns that can now include the mortgage insurance premiums?

We are having the same problem. It doesn't allow us to leave the town's blank, but the towns listed are not the towns my clients live in. It worked yesterday. I hope they fix it soon.

I checked the K-1 and nothing flowed there. Thanks!

Can anyone help with these forms? I'm trying to process an energy credit for an S Corporation for the purchase of solar panels. The Form 3468 doesn't seem to work properly and it is supposed to flow over to Form 3800. However, Form 3800 doesn't show up in the forms list at all (not even to say that is is unavailable). I would appreciate any help with this. Thanks so much!!