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?
YOU PUT INFORMATION ABOUT RENTALS ON THIS SCHEDULE
WHAT IS E
THIS RESOURCE IS LOCATED WITHIN IEP AND IS ENCOURAGED TO BE USED FIRST WHEN ON A CALL WITH CLIENT
WHAT IS INTUIT ASSIST?
IF THE IRS HAS EVER DONE THIS TO AN EIC CLAIM, THE CX MUST FILL OUT FORM 8862
WHAT IS DISALLOWED
WHAT IS ILLEGAL
A PARTNER IS GENERALLY THIS IF THE PARTNER STANDS TO PERSONALLY LOSE MONEY IF AN INVESTMENT FAILS
WHAT IS AT RISK
YOU WOULD WANT TO BUT CAPITAL GAINS ON THIS SCHEDULE (WHICH USUALLY NOT A GREAT GRADE)
What is D?
THIS IS THE FIRST PLACE TO CHECK FOR INTUIT APPROVED RESOURCES
WHAT IS THE HELP PANEL
AN EARNED INCOME CREDIT REFUND DOES NOT AFFECT ELIGIBILITY FOR TANF, MEDICAID, SUPPLEMENTAL SOCIAL SECURITY, LOW-INCOME HOUSING, OR THIS (FORMERLY KNOWN AS FOOD STAMPS)
WHAT ARE SUPPLEMENTAL NUTRITION ASSISTANCE PROGRAM BENEFITS (SNAP)
IN ASSISTED, WE CAN'T DETERMINE THE THIS OF REAL ESTATE SOLD OR PLACED IN SERVICE, WHETHER IT'S STEPPED OR COST
WHAT IS BASIS
ON A 1065 K-1, YOU'LL NEED TO ENTER CODE Z IF THERE'S THIS TYPE OF INCOME THAT WAS CREATED BY SECTION 199A
WHAT IS QUALIFIED BUSINESS INCOME
ITEMIZING DEDUCTIONS REQUIRES YOU TO USE THIS SCHEDULE
WHAT IS A
THIS INTUIT BASED SOCIAL MEDIA PLATFORM IS ANOTHER GREAT RESOURCE FOR RESEARCH
WHAT IS ELEVATE
WHICH TAX CREDIT INCREASED THE REFUNADABLE PORTION FROM $1600 TO $1700 IN TAX YEAR 2024
WHAT IS CHILD TAX CREDIT?
WE CAN'T PROVIDE ALLOCATIONS FOR THIS KIND OF PROPERTY (COMMONLY USED IN WESTERN STATES)
WHAT IS COMMUNITY PROPERTY
IF A CLIENT NEEDS TO GENERATE (NOT AN INPUT) A K1, THIS IS TO WHOM THEY'LL NEED TO SPEAK IF THEY NEED SUBSTANTIVE ADVICE ON THE TAX RETURN
WHO IS TURBOTAX BIZ/BUSINESS
IF YOU'VE GOT YOUR OWN BUSINESS, YOU WILL WANT TO USE THIS SCHEDULE
WHAT IS 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
THE EITC INCOME LIMIT FOR THOSE FILING AS SINGLE OR SURVIVING SPOUSE OR HEAD OF HOUSEHOLD IS $59,899 FOR TAX YEAR 23; FOR THIS STATUS, IT'S $66,819
WHAT IS MARRIED FILING JOINTLY
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, BECAUSE K1S WON'T GENERATE UNTIL THE PASS-THROUGH ENTITY HAS NOT FILED A RETURN BY THE APRIL 15TH DEADLINE
WHAT IS AN EXTENSION
IT IS "INTEREST"ING THAT YOU PUT DIVIDENDS ON THIS SCHEDULE
WHAT IS B
WHEN PERFORMING A GOOGLE SEARCH, YOU SHOULD USE THIS PHRASE TO MAKE SURE WE GET RESOURCES APPROVED BY TURBOTAX
WHAT IS TURBOTAX
THE EARNED INCOME CREDIT IS SO CLOSELY PROTECTED THAT PREPARERS MUST DO THIS ALLITERATIVE TWO WORD TRAINING
WHAT IS DUE DILIGENCE
WE MUST ONLY TALK ABOUT INCOME TAXES, NOT THESE KINDS OF TAXES REPORTED ON A 706 OR 709
WHAT IS A TRANSFER TAX (GIFT TAX, ESTATE TAX OR GENERATION SKIPPING TRANSFER TAX)