Small Business, Farm & Startup Tax Forum

Business & farm

Easily File 1099-NEC or W-2 Forms: Quick Employer Forms (QEF)

Did you pay someone to help with your business? If so, you might need to file a W-2 form for an employee or a Form 1099-NEC for contracted help. If you have bona fide W-2 employees, you’re probably already withholding taxes and you know those W-2 for... read more

Vehicle Deductions: All You Need to Know!

Do you want to drive away with massive vehicle tax deductions? Before you race to the tax-filing finish line, there are things you need to know to ensure that tax win! While vehicle deductions can be huge, there’s a great responsibility to thoroughly... read more

Self-Employed: Don’t Miss These Tax Moves!

You don’t know what you don’t know! For example, did you know that many self-employed taxpayers qualify for a health insurance tax deduction? Or did you know that if you don’t file the proper forms for employers and contractors (on time), the IRS cou... read more

Quick Links for Self-employed & Gig Workers!

Having a business is both exciting and rewarding! But it can be confusing if you don’t know what it means for your tax returns. Whether you’re starting off and plan to conquer the world with your new business, have a side gig for a little extra cash,... read more

Do I enter the taxes paid to Canada in the box for "reduction in Taxes" on form 1116

On form 1116 What is reduction in taxes?

Can I use the "taxpackagesupport" K-1 as is?

These don't have all the entries that are on the paper K-1s I receive in the mail. For example, they don't contain the line 20, code ZZ (other) entries. These are the entries I am most interested in asking about, as these line 20, code ZZ entries are... read more

1041 K-1 Box 14

I'm curious. Does Box 14 1041, with letter E include rental real estate income? How would I calculate this number on my own?Where would I find box 14 letter I on my 1041? How would I calculate this number on my own? Box 14 letter F would be active in... read more

Rental property in Disaster Area

We have rental house in Waynesville Nc. This was declared a disaster area after being hit by hurricane Helene. The houe is fine but the driveway to the house had a mud slide, making it unusable to vehicles. The house is accessable by walking but it's... read more

199A Mess with Turbotax

I have $3 for 199A (Box 5) from a 1099-DIV form for a Vanguard Balanced Index Admiral fund. When this is entered it is creating a Schule K-1 Partnerships and it is asking me enter partnership name and asking me to choose General or Limited Partner. I... read more

Where can I add unreimbursed business expenses for a partnership so that it goes into a Schedule E?

I can't get the assets and expenses to generate anywhere on my tax return. I tried to input them under "Self Employment Income & Expenses" but it generated into a Schedule C. I need it in a Schedule E correct?

Where is form 4797?

I'm using Turbo Tax Business to file for my S-Corp. I need Form 4797; however it's not showing up for me. Where / How can I find Form 4797?Additional (~1 hr later): Just curious, is this not being answered because it's a stupid question, not enough i... read more

Form K1 - OBI and Real estate profits boxes checked and Code Z in box 20 has multiple passthroughs

I'm really sorry to ask this considering the number of times it has been asked before. But just wanted to make sure I do it right. My K1 has the following entries in Part 2. Following entries in part III And following entries in STMT for Code Z in bo... read more

IRS Refund Check for Dissolved S Corp

Received a check from the IRS for 6 months after filing final return and dissolving S Corp. The check is made out to the corporation name, and the bank account has been closed and the bank says there is nothing they can do. I eventually disposed of t... read more

How to carryover mark-to-market loss from schedule K to future years as an investor

what forms should I do or double check to make sure I carryover the mark-to-market loss from schedule K to future years as an investor. They are supposed to write off investors' W2 and 1099 incomes. If I file Form 8582 (passive income/loss), I won't ... read more