My client purchased a US Treasury and the interest from it was $40K in 2022, and he also has an accrued interest paid in $26K. He did not claim the accrued interest paid of $26K in 2022. Can he claim the $26K accrued interest paid in 2023 while he received another 50K of interest from the same bond?
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You cannot use TurboTax to prepare tax returns for clients. TurboTax is only for do-it-yourself consumer use and cannot be used by paid preparers. Intuit (the company that makes TurboTax) has three tax software product lines for professional preparers: ProSeries, Lacerte, and ProConnect. You can find information about all three product lines at the following link.
Professional tax software for preparers
I am using Lacerte, not Turbo Tax
Then you are using the wrong forum. contact a Lacerte agent.
@Kelly107 wrote:I am using Lacerte, not Turbo Tax
I see you have now posted your question in the Lacerte tax forum. A lot of tax pros use that forum, so you should be able to get help there. Good luck.
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