taxit

I believe the 8594 is only required if there is more than one type of asset sold. It seems you only have a book of business.

When you enter the items on the 4562 input , the program creates the depreciation report. You can see the report when you view the return.

Thank You Judy! I looked at that screen many times and did not see that little box. That did the trick. Have a great day!

Does anyone know where to make the SEC 172(b) election in Drake to waive the NOL 2 year carryback for a farm? Thanks.

Thank you Kate.

Thank you for your response. I know the deferred comp is not pension. My problem is the software is showing a $20,000.00 pension exclusion for New York IT-203. The NY instructions for the pension exclusion mentions W2 box 11 deferred comp but does not give much detail. This is the only NY return I do and have done it for many years. This is the 1st year my client has deferred comp in box 11 of his w2 and the pension exclusion is showing up.

Need clarification for NY pension exclusion Yesterday, 11:31 AM New York preparers - Thanks for any assistance! I have a PA resident working in New York. The W2 shows an amount in Box 11 , nonqualified deferred comp. The software is allowing a $20,000.00 pension exclusion on line 28 of IT-203. The NY instruction say if there is an entry on line 10 NY column you may qualify for the pension exclusion. There is no entry on line 10. Does the deferred comp qualify for the exclusion? My client is 65 yrs old.

I am having he same issue.

I read last night that since the bill did not make it into the American Rescue Plan as an amendment, that it would not likely pass before the April 15th due date. So, I think I I will get these returns processed. Thanks for the responses!

Is anyone still holding returns with unemployment income?

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It would not show up on the worksheet for the 8880. However it would still be part of the adjusted gross income. Probably enough to eliminate the savers credit.

I believe the extended due date for the 1041 is Sept. 30, 2019.

I switched from ATX for 2013 tax year same as jklcpa. I much prefer Drake for the same reasons as the others have mentioned. It is nice not to be afraid to do an update. Also, most updates take less than 15 seconds.

It is a 2017 fiscal year 1041, so 2017 is correct. The K1 will show that is a fiscal year. Anything reportable for the beneficiaries , will go on their 2018 tax return. Also, if the decedent passed away in May of 2017, your end of year for the return is April 30th 2018. Due date would be August 15, 2018.