Dan

QUESTION: Are you able to start a business with more expenses than the income you receive? Will be completing Schedule C for the client.

Question: Are you required to send in Oklahoma 511-EF when you e-file an Oklahoma return in the ATX program? If so, must the form above be signed? Question: Are you required to send in Form 8879 when you e-file in the ATX program? Also, must the form above be signed?

When I enter 711219 into the business code section for Schedule C in Drake it says your entry is not valid for a business code. Also, that number is not listed in Principal Business or Professional Activity Codes on pages C-18 to C-20 of IRS instructions for Schedule C.

Is the code 711210 instead of 711219

What code would you use for a professional golfer? I used earlier 999999 (unable to classify). This number is no longer listed in the principal business or professional activity codes, now the number is 999000. The client goes to golf tournaments, makes money and has expenses attending these events. Is there something that needs to be done to change this code to another code?

Thanks, jkicpa for your information. It worked.

Question: I am wondering about what should go in Form 2210 line 8? The Drake program automatically puts in 17,306 but I think it should be less than that. The instructions for line 38 say on page 60. In regard to the exceptions, you won't owe the penalty if your 2021 tax return was for a tax year of 12 full months and either of the following applies. "For most people, the tax shown on your 2021 return is the amount on your 2021 Form 1040, line 24 (17,306) minus what is listed on line 30 (2,800) equals 14,506. So, I would say that the amount that should go on form 2210 line 8 is 14,506. I don't know how to change this in Drake. It is easy in ATX.

jkicpa -- Yes you are correct in what you explained how to populate the State estimated tax vouchers, but I was hoping the program would do this for me like ATX and TaxAct does. I quess here you have to figure on your own what you need to put in each State voucher. I took my figures from TaxAct and entered them in the vouchers as you explained, and it worked. Thanks for the info.

Deb, I see where you put in the estimated taxes you have already paid in 2022 for Kansas and Oklahoma for each quarter but I don't find where you are able to print out the vouchers for Kansas and Oklahoma that you will use to pay those quarter payments in 2023. The underlined words are my question?

Yes, there is a big problem with Drake in regard to 2023 estimated tax vouchers for the States. For example, I can't find them for Kansas and Oklahoma. I see the 1040-ES for Federal but do not see the K-40ES individual estimated income tax vouchers for Kansas or the OW-8-ES individual income tax vouchers for Oklahoma. I would like to know if anyone knows where to find these vouchers for 2023 year? Drake support could not help me. That is a big problem with Drake Software since ATX and TaxAct easy populate these vouchers.

Where is the fill-in-quick-navigate box? How do you find it?

Problem: I probably did not ask my question as I should have. The first quarter estimated tax payment was made on March 25, and the second quarter payment was made on April 1 so both payments would be thus for the first quarter. The next payment was made on June 8 and the fourth quarter payment was made on July 4. If the payments would have been made closer to their due dates, all quarters would have $3607. Catherine-where do you find the options you are talking about or the calculate penalties check box?

Qluestion: How do you get the right penalty computation in Drake Software when you send in the first quarter estimated tax payment on March 25, 2022, and the second quarter estimated tax payment on April 1, 2022? This has to do with line 11 on part III.

Lion EA, thanks for your help.

QUESTION: The client is a golf professional-an employee. All income is reported on a W-2. The golf professional has expenses of teaching others how to golf that he is not reimbursed for. His un-reimbursed expenses are around $11,000. Where can I deduct those un-reimbursed expenses on the tax return? QUESTION: Can I use form 2106 (Employee Business Expenses) in this circumstance? QUESTION: Would the golf professional be the same thing as a qualified performing artist?

Thanks Yardley. The home was completely paid off by the couple in 2022. She took out a loan to pay his share of the home in 2022 so she could live in the home. I haven't seen the divorce decree.

Question: What supporting documents do I need from a client who separated from her husband in November 2022? I understand she has a divorce decree but am wondering if I need that to do her taxes, and does it need to be sent to the IRS? 1. She has a son in college 2. She took out a loan on her home and paid half of the appraised value to her former spouse 3. Is form 886-H-HOH required to be sent to IRS 4. Can she file as HOH (Head of Household) 5. What other documents do I need Thanks for your reply to these questions.

I have found a way to enter Form 4835 income and also Schedule B (Farm crop interest) as out-of-state income on OK 511, line 4b. Here below are the steps I took: In Data Entry: Click on States; Click on Oklahoma; Click on out-of-state income. On the form that shows up you can than enter Form 4835 and the Crop Interest income. I also entered Schedule F and E on that form but not their income because it had automatically transferred to line 4b.

Question: Where can I find the application for the student loan forgiveness plan that the president is talking about? Is there such an application? How can one go about applying for a student loan forgiveness? Would appreciate your help. Thanks!

It is very easy to do the above with the ATX program. I have no idea how to get Form 4835 (out of State income) to flow to 511, line 4b. I really don't know the reason income from Sch E and Sch F did flow to 511, line 4b.

Question about Drake software: I have a problem finding how to complete line 4b of Oklahoma Form 511? I have out of state income from Kansas for Sch. E, Sch. F and form 4835. The Out State Income for OK 511 (line 4/ OK 511 Sch B line 2) includes Sch E and Sch F but not Form 4835. As a result, OK 511, line 4b only has the income from Sch. E and Sch. F. The income from Form 4835 is missing. How can I get the income from Form 4835 to show up on OKOUST.LD worksheet?

Has anyone seen this error in the Kansas K-40, Schedule S Part A, line A11 form? This happens when you have two states that send out form 1099-G's.

Has anyone else seen the error on A11 of the Kansas K-40 Schedule S Part A? I have two 1099-G's. One is a refund from Kansas and the other is from Oklahoma. According to the working of the ATX program only the Kansas refund comes in line All. Both refunds need to come in because both are taxed in the federal return. The instructions say in the Kansas booklet for line A11 "Enter any state or local income tax refund included as income on your federal return." I been in conversation with ATX a lot and am not getting this problem fixed.

The ATX program automatically puts the amount in the State and local income worksheet on line 1c. I don't know how they get the amount in 1c. When I fill out the State and Local Income Tax Refund Worksheet for Schedule 1, line 1, I don't see any amount for 1c. When I delete the amount in 1c. it shows my total state tax refund. When I restore line 1c it brings in the original number before I had deleted it and causes my state refund to be less than received.

Question: Are you required to enter the amount of state and local general sales taxes you could have deducted in 2020 on the State Income Tax Worksheet? If you are to enter this, it will lower your State(s) refund. In ATX, I deleted this amount on the worksheet. For example: Originally 1a had 1965; 1b had 2231; and 1c (general sales tax could have deducted) was 914. Before I deleted the 914 from 1c the taxable amount was 1317. When I deleted the 914 from 1c the amount was 1965 which was the total of state refunds.