Pacun

I don't see any difference between this and a scholarship that becomes taxable in order to get the credit. Since this is new this year and unique, your guess is as good as mine but I hope someone else can give you a better answer.

I would say yes. Not sure what it checks but it is accurate. To be honest, one of the returns was rejected before the 1095A was issued. So, I guess each month the IRS gets an entry stating that such and such social security number is getting money from the government to cover for ACA.

You will have to override in two places at least. The first will be to prepare the return without Child care and see how the amount Box 10 of W-2 Flows to the turn. Then you will have to override the W2 income amount on 1040. Then go to 2441 and override what is transferred from box 10 of W-2. I personally don't like to override an entry and 2 entries it is too much for me.

In the past, when the client didn't consolidate ACA Premium Tax Credit, the client got a long letter stating not to amend and to fax the form received from the Exchange along with form 8962 Premium Tax Credit. This year, there is flag for those people and when the software detects the lack of form 8962, efile rejects. MUCH better than the client receiving a letter and having his/her/their refund delayed.

Use the first two rows of cells that you see, and a third one will be opened automatically. If you need 10, the 10th row will be opened when you utilize row number 9.

I would also see 2020 1098T didn't not include scholarships that should have been included. As Lion correctly pointed out, see if the university report helps you figure it out.

Read carefully questions 2, 3, 4, and 5. If you answer those correctly, the credit will be calculated if the person qualifies. If it doesn't calculate, it is because TP doesn't qualify or the Tax preparer is not jumping to question 6 as instructed.

Make sure those 13K in scholarships are not more than 50% of her support and report that income on the dependent's return and call your next client.

The only payback provision is for Advance child tax credit. All stimulus checks are not re-paid.

Check all the entries on "dependents" on 1040. EIC line 4a is populated based on your selection on the Dependents tab. Don't override anything, rather see your answers on form Sch EIC on both Qualifying child and EIC question. I will bet you will find the/your mistake.

Do you have all the reports from Uber or just 1099-Misc and 1099-NEC? Ask your client to log on again and to print the rest of the report and it will match.

Yes, you should claim $1,400 on line 30 on their jointly return provided they don't qualify as a dependent for 2021.

If you are using a DELL computer press F12 when booting up and then select "diagnostics". You might get an error that your hard drive is going bad. Find out how to run diagnostics on your computer if not a DELL.

Prepaid rent is taxable when received.

Also, you can do this one: run cmd and admin and type chkdsk /r and press enter

Another useful thing to do is to hold down the shift key while you select shut down the way you normally do.

invoke the DOS prompt as admin and type sfc /scannow and press enter.

Since one of the spouses was residing in the US for more than 6 months, I would request those $4,200. My bother's wife was waiting for her Visa for 2 years and both years they filed jointly. She was a student and it was very beneficial to my brother to file jointly. I applied for an ITIN and sent a letter signed by both stating that they agreed to file jointly as resident for tax purposes and that she was going to report world-wide income (which was 0). In your case, the strong requirement is valid social security number and by virtue of them signing a letter stating that they want to file jointly as residents for tax purposes, reporting income earned while abroad, they should be entitled to all benefits except those specifically ruled out such as EIC. I was waiting for this post to be answered by someone else but it didn't happened. At least I will bump it up.

I have found two possible issues with ATX while calculating DC unemployment and when calculating Schedule H (renter's credit). Unemployment income is not transfer as taxable in DC and Schedule H doesn't pull Income amount from D40. As a result, the credit on Schedule H is 0.

I have Windows 11 and ATX is working properly.

Each Return accepted reads "accepted with messages". In the past, that message indicated that I have forgotten to answer an ACA question which was important. This year it seems that you get a message "Thank for using efile" and hence the message "accepted with messages". Am I missing something?

Someone dropped documents and I saw that the IRS have sent them a letter stating that $1,800 were sent in advance for their two children. Clients file jointly and failed to bring the wife's letter. When clients see the same amount of both letters and think they are duplicate.

I have seen a couple of dozen of videos from this person and if you have time, take a look so when you have a crypto hodler you can suggest to use the last of the suggestions for free (koinly). about a couple of weeks ago, I linked my metamask wallet to that application and I was surprised that in 20 seconds my capital gains were calculated. I used the free version of it and took a note of the amount of capital gains. I think that if I get a crypto hodler, I will ask him to visit koinly website and to link their wallet and run the report. Then I will ask them to buy a Crypto trading log and to be organized for the next year. This is the link for the video, but you can search "crypto news guy" and his latest videos will be shown.

Correct, they are different but we are talking about how to report them on 1040. The closest we can think of is to treat them as regular Crypto... again for reporting purposes.

The answer provided by cbslee seems to be correct if you bought it, but what about a nice hat and you make it NFT? What if you have an inventory of NFTs?