Where Do I Enter
Railroad W-2
Railroad employers are subject to a separate system of employment taxes administer by the Railroad Retirement Board (RRB) and the IRS. Payments subject to railroad retirement taxes are specifically excepted from FICA, FUTA, and the Self-Employment ...
Schedule C - Reporting Vehicle Actual Expenses
If the taxpayer used their personal vehicle for business purposes, they can generally deduct expenses related to the business use of the vehicle. Caveats: If they chose to use standard deduction in the vehicle's first year, they can switch to ...
Form 8919 - Uncollected Social Security and Medicare Tax
Form 8919, Uncollected Social Security and Medicare Tax on Wages, will need to be filed if all of the following are true: The taxpayer performed services for an individual or a firm (whether for-profit, not-for-profit, or a government entity); The ...
Form 8396 - Mortgage Interest Credit
The Mortgage Interest Credit is a nonrefundable credit intended to help lower-income individuals own a home. A taxpayer may claim the mortgage interest credit if a qualified mortgage credit certificate (MCC) was issued by a state or local ...
Enter Acceptance Agent Information in ProWeb
To include Acceptance Agent Information for a preparer in ProWeb, from the Welcome page select: Configuration Preparer Setup - Select Edit next to the preparer. Scroll down to the Preparer Agent Information section and enter the information in the ...
Indicate participation In business on Schedule -E
In Software, indicating that the taxpayer actively participates or is a real estate professional is done on a property-by-property basis, and active participation is not indicated when a property record is created. To indicate the status for a ...
Form 2441 - 2021 Changes to the Child and Dependent Care Credit
For 2021, the American Rescue Plan Act has made changes to the credit for child and dependent care expenses reported on Form 2441. The credit is fully refundable for taxpayers meeting residency requirements* The amount of qualifying expenses has been ...
Sale of Inherited Property
To determine if the sale of inherited property is taxable, you must first determine the taxpayer's basis in the property. The basis of property inherited is generally the fair market value (FMV) of the property on the date of the decedent's death, ...
Form 8959 - Additional Medicare Tax
Form 8959 is used to calculate the amount of Additional Medicare Tax owed and the amount of Additional Medicare Tax withheld by a taxpayer’s employer, if any. Form 8959 must be filed if one or more of the following applies: Medicare wages and tips on ...
Form 8960 - Net Investment Tax
Use Form 8960 to figure the amount of Net Investment Income Tax (NIIT) when modified adjusted gross income (MAGI) is greater than the applicable threshold amount below. U.S. citizens and residents. Individuals who have for the tax year (a) modified ...
Schedule E - Real Estate Participation
Rental activities are consider passive activities by definition and thus are subject to passive activity loss limitation rules. The taxpayer's level of participation in their rental real estate activities impacts how losses are treated in the tax ...
Form 8889 - Health Savings Account (HSA)
A health savings account (HSA) is an account set up with a qualified HSA trustee that is used to reimburse qualified medical expenses incurred by an individual, their spouse, and their dependents. HSA accounts are used by eligible individuals that ...
Form 1099-G - Certain Government Payments
Form 1099-G, Certain Government Payments, is provided to a taxpayer or entity that received certain payments from federal, state, or local governments. Generally, these payments are entered on the tax return and considered to be taxable income. ...
Form 1098-E - Student Loan Interest Deduction
A deduction of up to $2,500 is allowed for interest paid by the taxpayer during the year on qualified student loans. Deductible interest includes voluntary payments made during a period when interest payments are not yet required, interest on ...
Nondividend Distribution Statements
A nondividend distribution is a distribution that is not paid out of the earnings and profits of a corporation or a mutual fund. Typically it is a return of the capital or the investment that was made by the owner of the corporation or mutual fund. ...
Schedule R - Credit for the Elderly or the Disabled
The Credit for the Elderly or the Disabled is a nonrefundable credit, and its calculation varies depending on the taxpayer's filing status, age, adjusted gross income, and non-taxable benefits (i.e., Social Security, Pensions, and Annuities.) If the ...
Educator Expenses
An eligible educator can deduct qualified expenses as an adjustment to income on their tax return. The maximum amount they can deduct is as follows: 2021 and prior: $250 2022 and forward: $300 If spouses filing jointly are both eligible educators, ...
Form 8379 - Injured Spouse Allocation
An injured spouse is a taxpayer who files a joint return, and all or part of the portion of the joint overpayment (refund) is being, or is expected to be, applied against a legally enforceable past obligation of the other spouse. An injured spouse is ...
Form 8880 - Retirement Savings Credit
Form 8880 is used to figure the amount, if any, of your retirement savings contributions credit that can be claimed in the current year. Taxpayers may be eligible for the credit if they made contributions (other than rollover contributions) to a ...
Form 1099-K - Payment Card and Third Party Network Transactions
Form 1099-K, Payment Card and Third Party Network Transactions is a form issued by financial institutions that process electronic payments such as credit and debit card transactions. Form 1099-K is sent to individuals that receive such payments by ...
Schedule C - Business Income and Loss
To create a Schedule C in Software, from the Federal Section of the tax return, select: Income Profit or Loss from Business - For a return filing MFJ, indicate if the business is for the taxpayer or the spouse. (Indicating the business is a Qualified ...
Puerto Rico Excluded Earned Income
U.S. Citizens who lived in Puerto Rico for the entire year (bona fide residents) do not have to file a U.S. federal income tax return if all of their income was from sources within Puerto Rico. If income was received from sources outside of Puerto ...
Form 8915-F COVID-19 Retirement Plan Distributions and Repayments
Unlike Forms 8915-A through E that dealt with specific years, the IRS calls Form 8915-F a "forever" form to the extent that it will be used for disaster years 2020-2024. The expectation is that it may be appended in future years foregoing the need to ...
Prior Year Capital Loss Carryover
To enter a capital loss carryover from a prior year in the individual tax return (Form 1040) in software, from the Federal Section of the tax return select: Income Capital Gains and Losses Other Capital Gains Data (including Capital Loss Carryover) - ...
Household Employee Income
To enter Household Employee income in Software, from the Tax Return Summary page in the return select: Federal Section Income Less Common Income Other Compensation Household Employee Income
Enter Gambling Income or Losses
Gambling winnings To enter gambling winnings in Software, from the Federal Section of the tax return (Form 1040), select: Income Less Common Income Gambling Winnings Select Taxpayer or Spouse, if needed. Enter all information from Form W-2G. If there ...
Form 8283 - Noncash Charitable Contributions
Charitable contributions are deductible when the taxpayer itemizes deductions on Schedule A, Form 1040. To be deductible, a charitable contribution must be made to a qualified organization. Refer to Publication 526 for the definition of "qualified ...
Form 2210 - Underpayment of Estimated Tax
Form 2210 is used by individuals (as well as estates and trusts) to determine if a penalty is owed for the underpayment of income taxes due. The form doesn't always have to be completed; the IRS will generally figure any penalty due and send the ...
Ohio School District Codes
Ohio residents living within a taxing school district during any portion of the year are subject to Ohio's school district income tax. An individual must file the Ohio School District Income Tax Return (Form SD 100) if all of the following are true: ...
Form 2106 - Deductible Business Expenses
Form 2106 is used to calculate the amount of unreimbursed employee business expenses the taxpayer can deduct as an adjustment on Schedule 1. This form can only be used by the following taxpayers: Armed Forces reservists - A member of the Army, Naval, ...
Form 5405 - Repayment of the First-Time Homebuyer Credit
The first-time homebuyer credit provided taxpayers an incentive to purchase a home from 2008 through September 30, 2010. The refundable credit functioned as a loan, and repayment of the credit generally began with the 2010 tax return by adding a ...
Specified Private Activity Bond Interest
A Specified Private Activity Bond is issued to encourage private-sector investment in the development of certain facilities that serve specified public purposes, Included are exempt interest dividends paid by mutual funds that are attributable to ...
Wisconsin Homestead Credit - Schedule H
The Wisconsin Homestead Credit is designed to lessen the impact of property taxes by providing a credit on the Wisconsin state income tax return. The credit is based on property taxes levied in the tax year, and is available to both property owners ...
Deductible Attorney Fees
Are attorney fees deductible? The answer is, “It Depends". For business returns, attorney fees incurred by a business for business matters are most often considered tax deductible expenses. The real question arises in regards to personal tax returns. ...
Form 8615 - Kiddie Tax
Note: The Further Consolidated Appropriations Act, 2020 changed the rules regarding the Kiddie Tax calculation for tax year 2019 and retroactively for tax year 2018. Taxpayers will have the option of using the new rules or the old rules for these ...
Form 8814 - Parents' Election to Report Child's Interest and Dividends
Parents may elect to include their child's income from interest, dividends, and capital gains with their tax return as long as the total taxable interest, dividends, and capital gains are less than $11,000. Once the total reaches $11,000, the child ...
Section 1341 Repayment - Claim of Right / Social Security Repayment
When a taxpayer reports income in one year (because at the time they thought they had an unrestricted right to it) but then has to repay that income in a future tax year, the question arises as to how to include the amount repaid in their tax return ...
Form 1099-B - Aggregating Multiple Stock Transactions
Brokerage firms are required to report stock transactions on Form 1099-B. While the brokerage information may contain multiple transactions, they don't necessarily need to be individually entered but can be aggregated on the tax return. You can ...
Form 8949 - Entering Wash Sale
A wash sale occurs when an individual sells or otherwise disposes of stock or securities (including a contract or option to acquire or sell stock or securities) at a loss and within the 30 days before or after the sale or disposition does any of the ...
Statutory Employee Income from a W-2
Earnings as a statutory employee are reported as income in Schedule C rather than as wages on Form 1040. If a taxpayer receives a Form W-2 marked as a Statutory Employee in box 13, you will need to enter this income in two places in Software: Enter ...
Next page