K-1s
A K-1 CAN BE GENERATED FROM AN 1120-S, A 1065, OR THIS FORM, USED TO FILE THE INCOME TAX RETURN OF A TRUST OR AN ESTATE
WHAT IS A 1041?
REPORT RENTAL INCOME, ROYALTY INCOME OR INCOME REPORTED ON A SCHEDULE K-1 FROM A PARTNERSHIP OR S CORP ON THIS SCHEDULE
WHAT IS SCHEDULE E?
THIS RESOURCE IS BLUE WHEN IT'S PHYSICAL AND CAN BE FOUND IN PORTAL MANAGER
WHAT IS TAXBOOK?
THE AGE REQUIREMENT IS MET FOR THIS TYPE OF DEPENDENT, IF THEY ARE UNDER 19, OR 24 (IF FULL-TIME STUDENT) **NO AGE LIMIT IF PERMANENTLY AND TOTALLY DISABLED
WHAT IS QUALIFYING CHILD?
WE CAN'T DISCUSS THIS TYPE OF INCOME, EVEN RELATED TO CANNABIS IN A STATE WHERE ITS SALE IS ALLOWABLE UNDER STATE LAW
WHAT IS ILLEGAL?
A PARTNER IS GENERALLY THIS IF THE PARTNER STANDS TO PERSONALLY LOSE MONEY IF AN INVESTMENT FAILS
WHAT IS AT-RISK?
USE THIS SCHEDULE TO REPORT CAPITAL GAINS AND LOSSES THAT RESULT FROM THE SALE OR TRADE OF CERTAIN PROPERTY DURING THE YEAR
WHAT IS SCHEDULE D?
THIS IS THE FIRST PLACE TO CHECK FOR INTUIT APPROVED RESOURCES
WHAT IS THE HELP PANEL?
THIS CREDIT FOR ELIGIBLE DEPENDENTS IS UP TO $2,000 PER QUALIFYING DEPENDENT
WHAT IS THE CHILD TAX CREDIT?
IN ASSISTED, WE CAN'T DETERMINE THIS FOR REAL ESTATE SOLD OR PLACED IN SERVICE, WHETHER IT'S STEPPED OR COST
WHAT IS BASIS?
ON A 1065 K-1, CODE Z WILL BE USED IF THERE'S THIS TYPE OF INCOME THAT WAS CREATED BY SECTION 199A
WHAT IS QUALIFIED BUSINESS INCOME?
ITEMIZING DEDUCTIONS REQUIRES THE USE OF THIS SCHEDULE
WHAT IS SCHEDULE A?
THIS INTUIT BASED SOCIAL MEDIA PLATFORM IS ANOTHER GREAT RESOURCE FOR RESEARCH
WHAT IS ELEVATE?
THIS CREDIT FOR QUALIFYING DEPENDENTS IS WORTH UP TO $500 PER QUALIFYING DEPENDENT
WHAT IS THE CREDIT FOR OTHER DEPENDENTS?
WE CAN'T PROVIDE ALLOCATIONS FOR THIS KIND OF PROPERTY
WHAT IS COMMUNITY PROPERTY?
IF A CLIENT NEEDS TO GENERATE A K1, THIS DEPARTMENT CAN PROVIDE SUBSTANTIVE ADVICE ON THE TAX RETURN
WHO IS TURBOTAX BIZ/BUSINESS?
SOLE PROPRIETORS WILL USE THIS SCHEDULE TO REPORT THEIR PROFIT OR LOSS FROM BUSINESS
WHAT IS SCHEDULE C?
THIS IS NOT ONLY A GREAT RESOURCE FOR CONNECTING WITH PEOPLE ACROSS INTUIT, IT'S ALSO A GREAT RESOURCE FOR RESEARCH
WHAT IS SLACK?
A QUALIFYING RELATIVE MUST MAKE LESS THAN THIS AMOUNT IN 2023 TO BE CLAIMED AS A DEPENDENT
WHAT IS $4,700?
WE CAN'T DETERMINE WHETHER A CX NEEDS TO FILL OUT A 1040 OR THIS FORM USED FOR NON-RESIDENTS; WE REFER THOSE CXS TO SPRINTAX
WHAT IS A 1040-NR?
MANY 1040 CUSTOMERS MAY NEED TO FILE ONE OF THESE DUE TO PASS-THROUGH ENTITIES NOT GENERATING K1S IN A TIMELY MANNER
WHAT IS AN EXTENSION?
IT IS "INTEREST"ING THAT DIVIDENDS ARE PUT ON THIS SCHEDULE
WHAT IS SCHEDULE B?
WHEN PERFORMING A GOOGLE SEARCH, USE THIS PHRASE TO ENSURE THE RESOURCES ARE APPROVED BY TURBOTAX
WHAT IS TURBOTAX?
WHAT IS ANY AGE, AS LONG AS THEY MEE THE QUALIFYING RELATIVE CRITERIA?
WHAT IS CRYPTOCURRENCY?