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My K-1 Line 20 Z (199A) lists 4 different companies with various answers for QBI and UBIA. The software asks for my main K-1 information then when I get to line 20 I only have the option to enter for 1. If I create a different K-1 for each listed company venture for Line 20 Z aren't I entering the main page information 3…
I have a single K-1 form with multiple rental properties and Passthrough entities listed in the SECTION 199A INFORMATION, BOX 20, CODE Z, like below: Rent - Property 1 address RENTAL INCOME (LOSS) -****. UNADJUSTED BASIS OF ASSETS xxxx. Rent - Property 2 address RENTAL INCOME (LOSS) -****. UNADJUSTED BASIS OF ASSETS xxxx.…
When would I be getting money
I'm trying to enter the sale of a business property which needs to transfer to form 4797, When i click the form is goes to schedule C income, what are the steps to get me to form 4797?
So I got into this app called rips by triumph as a sorta fun thing because I love collecting Pokemon and other collectible cards but me being an idiot I didn’t know if I would get taxed as this is my first time doing this stuff, I’ve only withdrawn about $32.70 from the app, and over my time of usage I’ve deposited 75$…
I have gone through the entering of my K-1 (I sold the company last year) and after entering the information Freetax gives me this screen which confuses the heck out of me. I try to post the screen but it keeps coming up "Permission problem" The two messages are You have a capital gain you need to report on your tax return…
Our son(19yo in college, dependent), has total income of about $6000, which includes some W-2(~$2500) and some miscellaneous/other income(~$1800), and div/CG(~$2000) from a mutual fund. As a dependent, his standard deduction should be calculated as his earned income plus $450(so about $4350). But FreeTaxUSA is not adding…
I understand that the total amount of my W-2GS is entered as business income on schedule c, but where are the individual W-2GS I received reported/itemized on the return ? I have about 100 of them and if I enter them under 'other income', my AGI goes thru the roof and I can't take the standard deduction. So where are the…
When I go to Extensions and Other Tax Payments - Federal Income Tax Withheld it is grayed out and unable to change. Then I was told to "enter your W-2G forms under the standard gambling section, but zero out the income portion so it doesn't duplicate your Schedule C gross receipts" but doing this gives me an error that the…
Hello, I am a registered nurse working as an aesthetic nurse in a med spa. I do not work in a hospital or traditional clinic. My role involves performing injectables (Botox and fillers), IV therapy, and IM vitamin injections under my RN license. Because of the nature of the industry, I regularly receive tips from clients,…
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